Business Update

• 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
• Over the weekend I've been thinking a lot about the importance of trust. Without trust, every aspect of a deal becomes more difficult.  It's not just between buyer and seller, trust matters between the agents and their respective clients. How can you be effective in any relationship, business or personal, without it? This is why we go to great lengths to listen to our clients's needs, lay out clear strategies, honor our agreements, and invite constructive feedback. Earning and keeping trust is not just about doing good work and adding value, it requires regular communication. As an organization, we are constantly striving for improvement. How can we get better at our work? How can we add more value? Are there expectations that are not being met? These are the sorts of questions we ask of our clients. Note: we aren't bench marking our performance against other agents and brokerages. Check out our feedback. We outperform expectations in our vertical. We're bench marking against leaders and companies from other industries. 

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
• As you may already know, I serve on the Board of Directors for Growing Gardens. Last week, we discovered a flood mitigation plan was being floated to create water retention ponds in the Hawthorn Garden, remove three feet of topsoil, and displace hundreds of community gardeners. This is Boulder's last remaining urban farm. Over the last two years,  Growing Gardens has donated 32,000 lbs of food to low income people in Boulder. Thousands of children from BVSD come through each year for youth leadership training and other programs. Flood ponds would destroy Growing Garden's ability to use the land and represented an existential threat to this organization. Luckily, we were able to rally our stakeholders and make our voice heard. You may have seen the article in the Daily Camera. We're going to keep a close watch on this project, but have also been assured that the proposal is a non-starter. As an aside, this proposal also strongly affects one of my real estate clients on Spring Valley Road and could result in a change to his flood zoning. I've alerted him.  Additional Reading: The flood mitigation proposal for Twomile Creek and upper Goose Creek.

• 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. 


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.