• Sophie is enjoying a well deserved vacation. Pardon the poorly edited blog post. Typos are my doing, entirely.
• We had two great closings last week, both attached dwellings in very competitive market segments in Boulder. One was a primary residence, the other an income property. Both awesome properties and we have two very happy clients.
• Closing #1 was with a client we've represented several times. We feel a deep sense of gratitude at the opportunity to work with such a deeply savvy buyer again, and one whom has high integrity. They're thorough and smart, each time we do business, we each learn something new. We're honored to represent them. Their trust in us makes us work harder. I'd like to partner with them in their next purchase and perhaps we will on the next deal.
• Closing #2 was with a new client. They contacted us to sell their condo in central Boulder. We did our usual deep analysis on market conditions, advised them on optimal pricing, and agreed on a marketing strategy. Our listing attracted multiple offers and the deal closed $20K over asking with very little fuss or drama. We've sold a few units in this development, and we're now trying to arrange a happy hour for the buyer (not our client) to meet some of his neighbors and help him get settled in his new community.
• We're still closely tracking the market and have started to publish some of our research on Instagram. The format seems to work well for charts, although the written discussion is limited. If you're a client, you're always welcome to contact us for more details. Active buyers and sellers are our top priority. This blog and other socials are secondary. As you can see from the chart on this post, inventory for single family houses in Boulder has dropped 13%. Meanwhile absorption is once again up over 50%. The coming summer market is looking strong, despite rising rates.
• We did a tour of new construction across Boulder, visiting new development projects all over the county. Most have a waiting list of many months, but then you get a brand new property customized to your specifications. There are also lots of other things to think about with new construction, including risk of capital loss if you're buying at the end of a cycle and the limited recourse inherent in a builder contract. We're happy to represent our clients who choose new construction, we just want them to go in with eyes wide open.
New construction in Superior Town Center |
One thing is clear. Values don't exist in vacuum. They look nice on the wall but they only truly exist when tested. When a challenge arises, it's an opportunity to look at ourselves in the mirror and make decisions that reinforce our values. I particular appreciate the opportunity to discuss these matters with my mentors and my colleagues.
The view from the Pollinator Pavilion at Hawthorn Garden |
• A few personal notes: We hosted a wonderful gathering of friends and family for a baby shower for Leah's sister on Saturday. It was great to see so many people come together in celebration and the weather was perfect. My ankle has also mostly healed from last fall's injury and my weekly running miles are now back into the low 20's. I also wrapped up my fractional ownership of a vehicle on the west coast. It was a good model for expanding into real estate partnership.
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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.
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