Eye Candy on Spanish Hills, Hip Urban Loft, and More [Fresh Listings, Get 'Em Hot]


Autumn is often when we find the best deals on the Boulder real estate market. Competition between buyers is lower and sellers are often more negotiable and motivated to sell. It's a great time to shop for a home or an investment property.  

Our picks this week include a luxurious estate overlooking Boulder Valley, a hip urban loft, and a variety of interesting properties across price points and locations in Boulder. Nearly 100 listings hit the market this week. We've culled out the old refreshed listings, the bad locations, the Frankenhouses, and otherwise poor choices. The following listings are the best the Boulder market has to offer. 



To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896.




Sold Listings of Note
Home sales worth noting. 

3083 8th Street | $1.875MM | Pics
On the market just a few days, this property sold the very first weekend on market in a bidding war. Why? Because it's difficult to find a moderate sized family friendly, functional, newer home in a great spot in Newlands. If you've priced out building lately, you know it's actually a very good deal. When you know it's the right one for your family, paying +4.2% over asking is trivial. 



9715 Niwot Road | $1.875MM | Pics
As Boulder’s population continues to grow and congestion increases, demand has risen for country estate like properties on the north of town. This one didn’t have any significant acreage, but included water rights for irrigation and excellent views. It was also nicely updated. Try building an 8 car garage in Boulder proper. It sold for 3.8% below the asking price after several weeks on market. 

By the way, if you're in this price range and you haven't checked out Niwot, you should. The historic downtown is lively and thriving, with several excellent restaurants. There is just enough retail so you can regularly skip driving into Boulder for shopping. Schools are excellent and the lot sizes are typically generous. The market is also much softer, so you have better selection and more leverage in the negotiation than in Boulder proper. We wouldn't hesitate to live in Niwot, personally.



2233 15th Street | $1.725MM | Pics
An example of a classic pre-war Victorian in a good location. This one was well maintained with ample square footage, decent finishes, and a one car garage. It sold quickly after only 3 days on market, and no discount from the asking price. 





To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896.



Featured Listing
Select listings from our portfolio. 

Boulder 


3200 Carbon Place #S208 | $400K | Pics

A hip urban soft loft style apartment, beautifully maintained, with tasteful updates. "What's a soft loft", you say? It's a purpose built loft, not a conversion from an industrial factory.
That means the mechanicals are efficient, the paint isn't full of lead, and it's intelligently designed. The location of this one is central to everything, with excellent retail, and it's only steps from Google’s new campus. There's no lawn to mow, very little maintenance to deal with. This gorgeous property buys you time to enjoy Colorado's lifestyle.


Fresh Listings
The best of what's new.

Boulder 


7579 Panorama | $8.5MM | Pics (Eye Candy Alert)
Spanish Hills is an exclusive pocket of high end homes with spectacular views that overlook Boulder Valley. This particular estate is at the top end of the market, with no expense spared. As Ferris once said, “If you have the means, I highly recommend picking one up.” 





3060 17th Street | $2.14MM | Pics
Over the past few years, this part of Boulder has seen a string of buyers competing for dilapidated 1950’s ranches. The reason? The location offers a near perfect balance of access to downtown, work centers, and open space. Many new owners have taken them down to the studs and rebuilt to create tasteful modern homes. This is a good example of what's possible. If you’re considering doing the same, it's also a chance to skip the risk for construction cost and timeline expansion. Turn-key and well executed, it's worth a visit. 




2795 32nd Street | $979K | Renderings
It won’t be complete until the end of next summer, but Spark is officially on the market. It’s a solid location with great access to retail and tech offices. They’re selling quickly, so don’t delay. Prices vary but expect to pay at least $850K to get what you want. Due diligence: Train noise. 




6956 Lodgepole Ct | $650K | Pics
An affordably priced four bedroom, three bath towards the south end of the Country Club in Gunbarrel. Decent size lot.  The house has some tasteful updates. The owner is still making some final updates as it comes to market (new carpet, master bath). 
Due diligence: Corner lot, check for traffic issues. 




3665 Smuggler Place | $609K | Pics
Shanahan Ridge is a popular spot. Townhomes in this older development from the late 70’s typically sell quickly and rent easily, given their proximity to open space. They’re also in the area’s best schools and a quick bike ride down the hill to nice retail options. This one fronts on an HOA park, which lends a sense of spaciousness. 
Due diligence: While charming, these units are not well insulated and often have electric baseboard heat. Be prepared for higher than typical heating and cooling expenses. 


To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896.


755 35th Street | $585K | Pics
The Baseline neighborhood is entry level for Boulder’s market for stand alone houses. This is a good example of what you'll find, with a slightly larger than typical lot. The location is in close proximity to CU, which makes it easy to rent.  
Due diligence: 35th is directly accessible from Baseline, so it gets some traffic. Check it out at rush hour. Also, if you have plans to open up the kitchen by removing a wall, you should know that this particular layout has a structural wall in the middle. It's still possible, but adds a few thousand to the expense.



4757 White Rock Circle F | $320K | Pics
Top floor condo with vaulted ceilings and a loft. Powderhorn is a popular and affordable location with a short commute into Boulder. We have helped several clients purchase here and they have never regretted their investment. It’s a great community. 



Longmont 

4224 Portofino | $815K | Pics
Regular blog readers know I’m a fan of Renaissance. It’s a quiet neighborhood filled with families where kids walk to school. Open space, cycling routes, and excellent retail options are nearby. This particular one has a deck backing to open space/bike path corridor and a three car garage.  
Full disclosure: Osman owns an investment property in Renaissance.  It's currently available for rent


Worth A Second Look  
Select older listings, back on market or with substantial price reductions. 

Boulder 

2928 7th Street | $1.1MM | Pics
Originally listed at $1.3MM, now down to $1.1MM.  Decent location in Newlands. Seller is signaling they’re motivated.  Contact us for more details.  





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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.

Image: Hedi Alija

2 comments:

  1. I see you chose 755 35th Street in Baseline neighborhood. I like that area a lot along with Martin Acres. You've said in the past that homes off Baseline are "compromised" locations that should go for a 10% discount. Is this one OK because it is not right on the corner but like the 3rd or 4th house in?
    Another question - What would you expect a basic ranch 3br house like this to rent for these days (2017-2018 rental rates)? While in recent years the Boulder rental market (especially 2012 to 2016) has been tight, word on the street is that there are now (in 2017) increased vacancies and renters have more choices. In fact, the rental vacancy rate in Boulder is the highest it's ever been since the last economic crash, according to the dont be a NIMBY Daily Camera. Is $2100-2400/mo ($700-800/room)a reasonable estimate? At those rental income projections, homes should go for probably $500K (gross rent multiplier appraisers use, but sales comp approach supports the value), but we see a lot of homes like this starting at 600K to even 700k in Martin Acres neighborhood these days so I am guessing that's why we don't see nearly as many cash offers as we did in 2014-2016.

    Also, I've heard a lot of people unable to buy in Boulder County right now saying they're expecting prices to fall out significantly because these are unsustainable price levels being propped up and there will be more supply so this can't be maintained with lack of wage increases. I disagree- I think that while market is slow now, most places in the county should hold value pretty well and there's not a whole lot of room out there for supply

    ReplyDelete
  2. A couple of things.

    1. We generally don't publish anonymous comments unless they offer significant value to the discussion. I encourage you to publish your comments on the Facebook thread, where it's more difficult to be anonymous. Anonymity has value in certain circumstances, but it's rare for a real estate blog.

    2. There is nothing wrong with the Baseline neighborhood. While certain locations in the neighborhood may be compromised, which is true in any neighborhood, it's a good spot for entry level homes in Boulder. I personally have several friends who live in Baseline and love it. The 10% is a good rule of thumb for compromised locations within a neighborhood, depending on the severity of the compromise. Some locations I wouldn't recommend buying at any price.

    3. Rental projections: If we have a client relationship, please give me a call so we can set up a time to discuss.

    4. Market price projections: See #3. I may get around to publishing a few thoughts, ala a "crystal ball" post, but it's not on the top of my to-do list. Clients are #1.

    ReplyDelete

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Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.