Mid Century in Chautauqua, Historic Downtown Boulder, Investments and Lock and Leave Town Homes [Fresh Listings, Get 'Em Hot]


By Osman Parvez
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It sure seems like spring is in the air. All over Boulder, real estate agents are busy helping their clients prep listings and bring them to market. From now through summer, inventory will continue to grow and more buyers enter the market.  In a typical year, demand outpaces supply from January through June, which results in more options but also greater competition. 

If you're serious about buying real estate, you can't sit on the sidelines. You have to see listings to be in the game. The challenge is seeing the right ones before they're gone. That's why we sift through new listings and share our recommendations, week after week. No stale, refreshed listings or poor locations. These are the best properties to hit the Boulder real estate market.  

This week's fresh listings include a "restored" mid century modern ranch in Chautauqua, several attractive historic properties including one in highly desirable RMX-1 zoning, an investment condo in Stratford Park, and a luxury town home in Uptown Broadway. 

Remember, just because we think it's worth seeing doesn't mean we think it's worth buying - especially at the asking price.  

Are you ready to see some houses? Let's go! 



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

Recently closed transactions that highlight market conditions.

2408 Bitterroot Cir | $1.0MM | Details
Indian Peaks in Lafayette with views of the golf course.  A substantial house with ~4,000 finished square feet, 6,400 total with four bedrooms and four baths, plus a three car garage. It could use some cosmetic updates but hold off on updating the baths. Rumor has it gold fixtures are coming back. Yes, seriously. It sold for 5% below asking (estate sale), four days on market.  


4304 S Hampton Cir | $1.0MM | Details
A nice family house in Four Mile Creek. Slightly overpriced when it first hit the market in November (poor time to list). Backed to the creek and a wooded area. Decent condition, mostly basic finishes with some mild updates. Two price drops from first asking, it closed for $1MM, cash. 


275 Pearl #14 St | $875K | Details
An updated three bedroom, three bath town home with vaulted ceilings on west Pearl. It was gone the first weekend and we're surprised it didn't sell for over asking. Maybe cash and a fast closing had something to do with it. Three days on market, two weeks to closing. BOOM. Deal note: Based on the last time it traded hands fifteen years ago, this property appreciated at 5.4% annually. Not bad. 5% gain is what we conservatively estimate in our investment model for downtown Boulder.


Fresh Listings

The best of Boulder real estate and beyond.

Boulder 

1224 Mariposa Ave | $2.3MM | Eye Candy
This one almost didn't make the list. The Chautauqua location, reasonable lot size, and potential remodel quality makes it worth a look. No basement, all ~2,300 SQFT are on the main level. Two car garage. Due diligence: Visit the building department to determine whether additional square footage is possible. Better yet, bring your architect to the showing. 



2600 Park Lake | $1.8MM | Details
This location is intriguing. About 15 minutes from the Google building and set far back from Arapahoe in unincorporated Boulder County. This moderately sized five bedroom, four bath home backs to open space. It also features a three car garage and almost five acres of land. The mid 70's original build has been tastefully updated. Pro tip: Talk to your broker about the pros/cons of living in unincorporated Boulder County.


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


2137 Pine St | $1.7MM | Details
An attractive Victorian, built in 1900, only half a block from Whittier Elementary. Three bedrooms, two baths and about 2,100 SQFT. Looks like it's in good nick, but remember, historic homes are often constructed on cobble stone foundations, which mandate a close inspection. They also limp along on ancient plumbing, mechanical, and electrical systems. We advise our clients to expect double the normal maintenance costs compared to a more modern structure. Pro tipTalk to your Realtor about the potential of the two car detached garage in RMX-1 zoning. Make sure the garage isn't historic, too. Before you write your offer, calculate the appreciation rate from the date of last sale. 


764 15th | $1.4MM | Details
The last time this three bedroom, three path historic property was on the market, it took 8 months to sell and the price dropped almost 18% from first asking. Back on market 9 years later with fresh paint, remodeled baths, and new appliances with an asking price that reflects an annualized appreciate rate of 8.2%.  Is it worth it? Only a firsthand look will tell. The location is solid, almost a block north of Baseline and far enough away from CU so student rental housing density should be low. Close enough to Chautauqua for easy access to open space and events. No garage, but the entire backyard is essentially a parking lot (listed as 6 cars worth of space). 

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

2227 16th | $1.3MM | Details
We took our buyers to see this adorable two bedroom, two bath historic carriage house when it was last on the market a couple of years ago. It's a unique property, with lots of historic quirks - err, charm. The location makes it a good second home choice; it's an easy stroll to downtown Pearl restaurants and coffee shops. 


1310 Rosewood 5C | $800K | Details
A large 2 bedroom, 3 bath town home in Uptown Broadway. Directly adjacent to several excellent restaurants and a variety of retail. We expect it to continue to improve over time, with city led investments in cultural/arts and higher quality retail. 1700 finished SQFT and a two car garage. Full disclosure: House Einstein's office is in this location. Due diligence: Uptown Broadway is currently resolving an issue with EIFS stucco.  

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


850 35th Street | $615K | Details
A basic three bed, two bath ranch in the Baseline neighborhood. Galley kitchen with a likely structural wall (not easy for take downs). Some updates, including kitchen cabinets, sliding glass patio doors, and one 3/4 bath. The extra shower is definitely a plus. Priced right and shouldn't be on the market long. Due diligence: This might be a good candidate for a pop, but check the driveway width. It looks too narrow for the required parking spaces to eliminate the garage (or build a garage in the back). Ask your Realtor why this is important. 

3035 Oneal Pwky S-30 | $310 | Details
Constructed in the early 70's, the units at Stratford Park are pretty basic but they've served our investor clients well in the past. Three beds = +CF. Don't wait, schedule a showing now. At this price, it wont be on the market long. Due diligence: Check to make sure the bedrooms are legit. One looks suspect from the photos. 

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

Lafayette 

1512 Seneca Cir 127 | $330K | Details
If you're a first time buyer looking for an affordable yet functional space, go see this property. It's an easy commute into Boulder or downtown Louisville. Three bedrooms, two baths, and some updates.  We've sold several to entry level buyers over the years. 



Interesting Price Reductions

Recently discounted homes, possibly worth a second look.

2460 Agate Ln | $1.7MM | Details
Originally listed at $1.8MM at the end of November, the seller just slashed the price $100K. Five bedrooms, three baths and a decent size lot. The structure was built in the late 80's. Good layout, some dated finishes, but has potential. On a cul-de-sac but it also backs to Premier Ln. 



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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: Aaron Burden

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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.