The early birds have tottered from the nest and the new real estate year is off to a proper start. A handful of exciting new listings hit the market this week (along with a bunch of leftovers from last year). I sifted through the options, looking for the most interesting and compelling properties.
Are you ready to see some houses? You'll find the best listings to hit the Boulder area real estate market below. As always, we'll kick it off with a discussion of notable sales.
For private showings and discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896. My goal is to help you make a smarter real estate decision.Sold Listings of Note
A dramatically remodeled and expanded home near Chautauqua with an open layout and contemporary finishes. Five bedrooms, four baths and about 3,750 finished SQFT round out the picture. The transition between living areas and private backyard was particularly well executed. The primary downside of the property was that it had no garage. Listed just before Halloween at $2.4MM, the seller went under contract in early November and closed last week at 12% below the asking price.
Due diligence: Buyers should be aware that this location, although desirable due to its proximity to Chautauqua and CU, also has quite a few student rentals. It varies block by block. Careful, or you could end next to Beachapalooza.
Marketing tip: When the first photograph isn't an exterior shot, it sends a message to prospective buyers about curb appeal. No, it's not a good message. Only if the exterior is truly wretched do we recommend leading with an interior photograph.
2080 Park Lake Drive | $1.29 | Pics and Details
Just east of Teller Lake in unincorporated Boulder County, this neighborhood is only a few minutes from Boulder proper. Listings are somewhat rare and buyers who target this location need to be prepared to move quickly. 2080 Park Lake is a large three bedroom, four bath ranch sitting on a 3/4 acre lot. Originally constructed in the mid 70's, it was nicely updated and turn-key for its next owners. The outdoor areas convey a sense of spaciousness and privacy from the neighbors. On the market only four days, it sold at a token discount from asking. Boom.
Located on the dead-end portion of High Street, Sunset Hill is one of the most sought after locations in the City of Boulder for luxury home buyers. 1515 High Street is a tasteful, family oriented home with unpretentious, classic curb appeal that hides a well executed interior layout and finish. Click the link above to check out the photos, including the fun custom brickwork in the basement living area. From the front door, you're on Pearl within minutes yet the neighborhood is quiet and feels far removed from the bustling downtown.
A stylish ranch in Boulder's exclusive Alpine-Balsalm-Panorama peninsula. This location has one of the best views in Boulder while retaining close proximity to downtown. Completely re-imagined and updated.
Take a look at what the home was like when the seller acquired it for $1.2MM in 2017. Compare to the current photos.
The scope of work included relocation and expansion of the kitchen, a new rear porch and deck, and a new covered front porch. The remodel on the lower level included an addition of a bathroom, laundry room and a mudroom. On the main level, the remodel included the addition of a half bath, conversion of a bedroom into an office space, remodel of another bath, and remodel/expansion of the master suite. Worth seeing just for the spectacular interior. It's well executed by one of our new favorite staging companies.
Due diligence: Check for permit closure. I also recommend analysis of interior vs exterior loop comparable sales. They don't trade at the same value.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
1091 Copper Hill Ct| $1.99 | Pics and Details
Just west of Spanish Hills, this neighborhood feature extraordinary views of the Front Range and yet, it's only a few minutes to drive to Old Town Louisville, Superior, and Boulder proper. Constructed in 2009, this substantial five bedroom, six bath luxury home sits on 1.85 acres and features traditional design and finishes. An adjacent path leads directly to Harper Lake, a popular walking area for local residents.
Due diligence: The western edge of the property abuts McCaslin Blvd, about 270' from the edge of the house. That's likely an adequate distance for most buyers but test for tolerance from this busy road. The seller may also have been the general contractor, so plans should be readily available.
Note: SQFT on the MLS is currently incorrect. According to the tax assessor, it has 6,618 F. SQFT.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
494 W. Spruce | $1.88 | Pics and Details
Anyone who visits downtown Louisville on a summer weekend knows that it's a thriving community. Live music, great restaurants, and neighborhood events are all but a stroll away from this property. As listed, it's a beautiful five bedroom, four bath with a two car detached garage and plenty of indoor and outdoor entertainment spaces. It's also eye-catching, with vaulted ceilings, exposed beams, and current finishes.
Due diligence: The seller acquired this home a year ago and, at least according to the listing records, it's grown in size somewhat. Both finished and unfinished square feet have increased by about 500. Check for work completed during the past year and verify permits are closed out. Double check the square footage. Don't forget to review the possible driveway easement and use of the city owned property to the west.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
9.4 acres of ag land, with water rights between Boulder and Longmont. This one could be right for a buyer looking for good bones for their dream home. The existing structure is a large but dated single story home, currently configured with only two bedrooms. There's a lovely stream that flows through the backyard and it's surrounded by mature trees.
Due diligence: Check and then double check the flood maps, the house and the rest of the property do not appear to be in the same zone. Evaluate the flood mitigation work from 2013 and inspect closely for signs of damage. Be judicious about valuing the water rights, they are often not liquid assets and prices are all over the map. Don't forget to bring a budget for improvements.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
A nice second story addition on a classic Martin Acres ranch. 32nd street is one of the quietest in the neighborhood. The house itself is nicely done, with four bedrooms and three baths and a modest 2,300 SQFT. The two car garage in the back is a bonus.
Due diligence: Pop-top additions are very popular in Martin Acres. The last time I ran the numbers, they cost $350K to $450K and that was a few years ago. So, take a basic ranch at $650K, add $40K to $60K for the garage, and then another $400K for the addition (if you're lucky). Plus the construction risk. This shouldn't be on the market long.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
As my buyers will tell you, I'm a big fan of property that backs to (true) open space and is designed around the view. Historically, these type of properties tend to hold their value better during downturns and appreciate quickly during up-cycles. They're the equivalent of ocean front. Sure, they cost a little more on entry, but the long term performance is often worth the premium. Plus, you get to enjoy the view and spaciousness of not having a neighbor behind your house.
This somewhat standard five bedroom, four bath is a traditional two story house with a few updates and mostly builder grade finishes. The opportunity is to do some cosmetic (and maybe mild framing) updates that enhance the potential of the open space, investing in landscaping and the deck to increase the value of the outdoor experience. At under $260/SF, it's a good starting point.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
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Ready to buy or sell? Schedule an appointment or call 303.746.6896.
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As always, your referrals are deeply appreciated.
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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.
Cover image: Ray Hennessey
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Ready to buy or sell? Schedule an appointment or call 303.746.6896.
Feeling social?
Facebook | Twitter | Instagram
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.
Cover image: Ray Hennessey
