It's More Than a Feeling [Fresh Listings, Get 'Em Hot]


Change is in the air. Can you feel it?  At House Einstein, it's more than a feeling. We obsess over real estate market conditions in Boulder. It's the only way to provide our buyers and sellers with deep, actionable market knowledge. 

What's the market doing? The data shows that Boulder house inventory remains low and it's down about 25% year over year, but at the same time the percentage of inventory under contract (i.e. absorption) has fallen from 52% at the end of April to 38% today. That's a remarkable indicator. 

If you're considering buying, now is the time to be exceptionally selective. Rates are rising (two more rate hikes expected this year by the Fed) and change is coming. Only engage in a bidding war when you're confident it's the right house. Be disciplined in your strategy; ask your broker to deeply analyze comparable sales, negotiate aggressively, and be prepared to walk away. Remember, there's always another house.  

The process starts by seeing the right property. To help guide you, we've sorted through the inventory. No refreshed old listings, no bad locations.  This is the best of Boulder real estate. 

Remember: Worth seeing doesn't mean worth buying - especially at the asking price. For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.



Sold Listings of Note

980 University Ave | $1.39MM | More Details
A historic property in a prime student rental location, with grandfathered high occupancy, and potential to expand from the existing 6 to 8 occupants (supposedly). The seller's pro-forma showed $956/bed.  For 2018, I model desirable rental properties at ~$900/bed. Historic + CU rental has been a winning investment formula for the past thirty years in Boulder. On the market for two days, sold for $1.39MM ($40K over ask, with $2K in concessions). 



611 Marine St | $1.31MM | More Details
High student density and a growing vagrancy problem doesn't seem to impact the desirability of this location near downtown Boulder. A classic Victorian with traditional design elements as well as a few modern touches. One car detached garage, smaller lot. Sold for $30K over ask, cash.  Historic homes don't seem to ever go out of style.  The challenge is making them livable.



1460 Moss Rock Pl | $1.25MM | More Details
Modern, turn-key property doesn’t last long on the Boulder market. 1460 Moss Rock made Fresh Listings a few weeks ago. Flatiron views, typical size lot, north facing and on a quiet street. $550/SF is now a good baseline for this property type in North Central Boulder. Sold for asking, with a $1500 concession at closing.



Fresh Listings

Boulder

5364 2nd St | $3MM | More Details
At the western edge of Dakota Ridge, backs directly to Foothills. Crisp modern design, framed around the views. Ask your broker if the valuation is supported by direct access to open space. Dakota Ridge should continue to benefit from the implementation of the NoBo Art District




For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.




1503 Cedar Ave | $2.69MM | More Details
Freshly renovated and expanded from a 1920's bungalow to this modern, elegant farmhouse. About a third of an acre, corner lot in a very desirable part of North Boulder.  Click the link above for the eye candy.  Over the long term, it should benefit from the Alpine-Balsalm redevelopment. Due diligence: The seller wants buyers to use their builder contract - before you write the offer, be sure you know what contingencies you're giving up. 



2240 17th St | $1.59MM | More Details
A classic Victorian with a wrap around front porch in a desirable part of the Whittier neighborhood. The square footage is a little tight for this charming three bedroom, three bath house, but the handsome outdoor entertaining spaces might make up for it.  1 car garage. Due diligence:  Just outside of RMX-1 zoning. 


 For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.



2455 University Heights Ave | $1.09MM | More Details
An intriguing redevelopment opportunity for a buyer closely affiliated with CU. It's a dilapidated, mid-century modern ranch style home in a prime location, on a large lot, and nestled right up against campus. Foothill views from the perch. Bring your scratchpad to capture ideas for the renovation. If you're not ready to take on the renovation now, rent it out - you'll find a deep pool of potential tenants.  



929 15th St | $900K | More Details
A cute bungalow with some nice updates, close to campus. High student density. All bedrooms on the main. The detached garage is heated and might serve as an art studio or other informal space (cough). Don't wait to see it. Offers are due on Sunday. 




 For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.


3060 24th St | $858K | More Details
An L-shaped ranch with an open floor plan on a quiet street in Central Boulder. Updated kitchen and baths. Close to Google, downtown and Rayback. Ranch style homes are often the perfect platform for a second floor addition. 




7111 Cedarwood Cir | $800K | More Details
Homes scattered around the Boulder County Club tend to offer generous main floor living areas and semi-private lots.  This vaulted 2-story i needs some updating but seems to have a good floor plan. Small lot.  Close to Twin Lakes and Avery. 




 For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.




4260 Evans Dr | $750K | More Details
4 level in Park East. Backs to the creek along the bike path, which has an informal social trail (I run on it). Ready for updates. Vaulted ceiling in the living area.   








4105 Martin Dr | $635K | More Details
It's hard to get a sense of this Martin Acres ranch from the rough listing photos. The interior is obviously dated but at the asking price, it shouldn't last long. Martin drive is a through street, but peak traffic is mostly related to the elementary school schedule. 


Louisville


701 Lincoln Ave | $580K | More Details
An attractive, historic bungalow with an open floor plan in Louisville. Decent location, albeit subject to some traffic noise from Pine. The house can likely be expanded, even with historical designation. Tiny houses in the back are described as “fun” but due diligence should include the legality of these structures.


 For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.


Lafayette

2843 Shadow Lake Rd | $750K | More Details
A moderate size 2-story from 2012 with nice finishes, listed as three bedrooms and five baths. It looks like there might be two non-conforming bedrooms in the basement. Indian Peaks is an excellent part of Lafayette, not far from downtown Louisville. Due diligence: School performance compared to Louisville. Also train noise tolerance. 





Niwot 


8716 Skyland Dr | $1.3MM | More Details
A nicely appointed, late 90's luxury home on the east side of Niwot.  Half acre lot, three car garage, and attractive built-ins. Walk out basement and it backs to a large parcel of HOA owned open space. Very attractive outdoor entertainment areas. Niwot also has exceptional public schools.  Due diligence: Make sure the large structure to the southwest isn't a fracking well. It's likely just a water tower. Also, if you're shopping Niwot real estate, be sure to evaluate market conditions. During the last downturn, more than two years of inventory piled up.  Bidding wars here are less common. You've got options. 

 For a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.

----
Want to get blog updates via email?  Click HERE.       
Ready to buy or sell?  Schedule an appointment or call 303.746.6896. 
You can also like our Facebook page or follow us on Twitter.

As always, your referrals are deeply appreciated.  

--
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: J Plenio
----

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

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.