T'is the Season for a New Home? [Fresh Listings, Get 'Em Hot]

Ready to cuddle up with that special someone next to the roaring fire? Before you get too deep into the eggnog, let's take a look at recent notable sales and fresh listings to hit the market this weekend. Maybe you'll find a new home in your stocking.

As usual, I've sifted through the most recent listings in Boulder and surrounding areas to bring you property worth considering.  I've also included a discussion of notable sales to help educate you on market conditions.  Remember: Intelligent real estate investments are based on deep market knowledge. 

As for me, I'm heading into the mountains on Saturday morning to look at properties and then spending the rest of the weekend with family and friends. 

To schedule a private showing, which includes a discussion of valuation and all the eggnog you can drink, call Osman at 303.746.6896.

Sold Listings of Note

342 2nd Ave (Niwot) | Sold Price: $3.1MM | Details 
It's hard to believe, but after 9 months on Market, the Niwot Inn finally sold.  The deal closed for a whopping ~14% below asking, a lesson to other would be unicorn buyers and sellers.  Most likely, the property will continue to be operated as a bed and breakfast or boutique hotel.  
1077 Canyon Blvd #301| Sold Price: $1.8MM | Details 
The Arette sets the standard for high-end, downtown lock-and-leave property in Boulder. Views from this particular condo were not outstanding, which is helpful for comp analysis when other downtown condos come to market. This unit is a 2 bed, 3 bath with just over 2,000 SQFT, originally marketed at $1.95.  It took 3 months and a significant price reduction to sell ($884/SQFT) during the off-season.

71 Acorn Lane | Sold Price: $1.52 | Details 
Pine Brook Hills is a desirable neighborhood just to the north of Mt. Sanitas. The views are spectacular (despite the poor quality, pixelated photos) and it's a quick trip into town. The owner of this one had been attempting to sell since 2008, with prices that have been all over the map. At one point, 8 years ago, it was listed at $2.4MM. Take home lesson: If you're serious about maximizing value, price it right and market it professionally. 

4348 Pebble Beach Drive | Sold Price: $970K | Details 
I love Lake Valley, but when buyers hear the Longmont address, they get confused - which is probably why the listing agent marketed this property as being in Niwot.  It's not.  Lake Valley is a higher-end neighborhood just north of Dakota Ridge. The mailing address is Longmont, even though it's closer to Boulder than Gunbarrel.  

Originally marketed at $1.2MM, it's an example for why I advise my clients to be highly selective in any of the higher-end neighborhoods between Boulder and Longmont (proper). There is plenty of inventory and Buyer appetite for ginormous homes on large lots is limited once you leave the city limits. For every buyer I work with who wants one of these, I have ten that would prefer a much smaller, simpler home, close to downtown Boulder. 

Despite one of the strongest appreciating markets in years, this owner had zero appreciation after paying transaction costs.  Sellers: if your Realtor has not deeply analyzed the comps, find a better Realtor.  Never test the market with wishful thinking.

2144 S Walnut | Sold Price: $625K | Details 
I was talking with one of my clients the other day about the characteristics of a good income property. I sent him this listing. It checks a lot of boxes. The location should make it easy to find tenants and with a cosmetic refresh a few years down the road, it could obtain a premium rent. Student density is high, but that also works in a landlord's favor if you don't care to update the finishes. Students will rent anything. They also love to live together.  4 bedrooms, 3 baths, and a reasonable HOA fee work towards a respectable cap rate.  

Fresh Listings
Remember:  To schedule a private showing, which includes a discussion of valuation and market trends, call Osman at 303.746.6896.


1095 Redwood Ave | Asking Price: $2.7MM | More Details 
The Granary is nestled right against Wonderland Lake open space.  This contemporary new build features beautiful, high-end finishes and modern design.  It's  turn-key and ready for occupancy.  Due diligence: Confirm the view corridor is protected and check for noise tolerance from Broadway.  If your Realtor shrugs when you ask about due diligence, find one that understands the meaning of fiduciary duty.

3170 18th Street | Asking Price: $675K | Details 
A mid-century, scrapeable house in a good location in north-central Boulder. The east-west orientation is not ideal for redevelopment (larger shadows cast on neighbors runs up against the solar access regulations) but it should still be adequate for most architectural plans. Typical size lot. Expect the inside to be a dump. No pics and it's an estate sale. What do my always sunny competitors like to say?  Oh right, "bring your imagination."  Due diligence: Ask your Realtor to bring their architect to the showing for a consult. If they don't offer that, find a Realtor who does.

3707 Telluride Circle | Asking Price: $590K | Details 
The keys to intelligent valuation at Shanahan Ridge are orientation to the HOA open space, view corridors to Flatirons, and number of bedrooms/baths. This one has the preferred 3/2 configuration and larger square footage. Pics and the listing description suggest the views are there. A comparable stand-alone house would be in the high 700's, maybe more. It should sell quick and maybe even obtain a premium to asking. Due diligence:  Mid 70's vintage construction and electric baseboards translate to high utility bills. Make sure you meet the neighbors before you place your offer. 

The only new listing in Louisville this week is on Main Street.  It's much too close to the railroad tracks to recommend.  Protip: Never go see property in a compromised location.  All you can do is talk yourself into a bad investment decision.  Skip.

391 Pika Point | Asking Price: $659K | Details 
Protected views mitigate against capital loss during a down-cycle and offer significant appreciation potential during upswings.  This relatively affordable option appears to have them, plus a decent size lot and a 3 car garage.  A quick jaunt down the road and you're also into downtown Louisville.  The in-law suite in the basement could help a creative buyer generate an income-stream to offset the mortgage. Worth a look.  Due diligence: Confirm the views are indeed protected.  Check your commute for rush-hour traffic on the roads into Boulder.


2113 Creekside Drive | Asking Price: $665K | Details 
A large family house on a decent size lot in desirable south Longmont.  The commute to the Googleplex is ~15 minutes.  It's not far from the most popular north Boulder cycling routes and downtown Niwot. It's even in high performing Niwot schools. Ignore the gold trimmed bathrooms, go see it.   

Remember:  To schedule a private showing, which includes a discussion of valuation and market trends, call Osman at 303.746.6896.

312 W Maple | Asking Price: $688K | Details
You can't get much closer to Costco without living inside the building, but maybe that's a bonus. The house is also right next to a nice park and in easy commuting distance to Boulder or Denver.  I've sold a couple of homes in this location during the past year. None of my buyers have complained about the proximity to retail.  Due diligence: Superior should keep growing for the next few years with the Superior Town Center development now underway.  Make sure you consider all your options.

3160 E Yarrow Circle | Asking Price: $530K | Details 
A decent size, affordable family home with a good layout with close proximity to trails and open space. Late 90's construction, the awful gold trim shower must have been a special order.  Due diligence: As with all Rock Creek property, check carefully for signs of foundation damage from expansive soils. Many homes have had to incur foundation repairs.  

Remember:  To schedule a private showing, which includes a discussion of valuation and market trends, call Osman at 303.746.6896.

Investment Opportunities 
Both of the following multi-family properties offer decent cap rates and the possibility of future gains from Longmont's rapidly appreciating market.  

212 E Longs Peak Ave | Asking Price: $2.3MM | Details
8 units in walkable proximity to downtown. Early 80's construction puts it past the lead paint era. Hold it for the current cap rate and invest in finish improvements as the tenants turn-over for a boost to your return.  Due diligence: traffic noise, but most potential tenants rarely care.

2223 Dexter Drive | Asking Price:$695K | Details 
It's hard to find a 4 unit multi-family development anywhere in Boulder County for below $1MM. Fully rented, ready for a budding income property investor willing to take some location risk.  Due diligence: It's in far north Longmont.


Remember:  To schedule a private showing, which includes a discussion of valuation and market trends, call Osman at 303.746.6896.

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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 credit: Toa Heftiba

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.