Lean-In, It's Time to Play Hardball [Boulder Fresh Listings, Get 'Em Hot]

Winter is in the homestretch and you'd rather be sipping piña coladas on the beach in Maui. Or gazing at the sunset from an endless pool overlooking the ocean. 

Yeah, me too. 

Forget it. Inventory is picking up and January was a slow month in Boulder real estate. The smart move is to become more selective, not sit on the sidelines. The key is to choose wisely.
I sifted through this week's fresh listings and removed poor locations, refreshed old listings, and absurdly overpriced homes. Over one hundred listings hit the market this week in Boulder but just five properties made my list. 

Don't forget, just because I think it's worth seeing doesn't mean it's worth buying. Intelligent real estate decisions are based on deep market knowledge. There is no substitute. 

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 
7181 Longview Dr | $1.4MM | Pics and Details
It's unfortunate that Niwot is often overlooked by Boulder home buyers. We encourage our clients to consider it because it has its own charming and historic downtown, a vibrant community, and exceptional schools. It's also only a few minutes drive to the city of Boulder and offers direct access to the areas best cycling routes. 

7181 Longview Drive is a family-friendly and tastefully updated six bedroom, five bath with just over 5,000 finished square feet. A traditionally-styled two story home home, it's on a smaller lot but backs to land unlikely to be developed. The seller, a Realtor in Boulder, utilized professional photography, priced it right, addressed inspection items prior to listing, and provided the pre-inspection report - exactly what we recommend to our clients. 

The property went under contract almost immediately but buyer #1 flaked due to financing issues. It was back on the market for only a week before buyer #2 swooped in and locked it down. 7181 Longview drive sold for $25K over the original asking price. 

Fresh Listings
536 Maxwell Ave | 2.0MM | Pics and Details
An adorable two bedroom cottage in one of the best locations in the Mapleton Historic District. The existing floor plan is funky, with a spiral staircase connecting the master suite on the upper level and to the guest bedroom on the lower level. The open living area is attractive. The kitchen is ready for a remodel. 

As with all historic homes, I advise House Einstein's buyers to closely inspect the foundation, and mechanical, electrical, and plumbing systems. Historic homes require more care than a more modern home, which can sometimes be overlooked by previous owners. Supposedly this one has received a number of updates. Trust but verify.

Note: The listing dangles the possibility of converting the detached garage into an ADU. If your use-case and investment thesis relies on it, verify potential with the city and a local architect before the inspection period is over. Ask your Realtor to bring an architect to the showing.

For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896. 

467 Pearl St. | $1.35MM| Pics and Details
Surprise, it's back! Acquired last year in a bidding war for $1.2 MM, this property is one of the iconic (and rarely available) San Francisco style town homes on west Pearl. It features three bedrooms, two baths across a reasonable 1562 SQFT. It doesn't appear that the seller did any improvements during their ownership period, they're supposedly selling due to health issues. 

Due diligence: Smaller HOAs are often underfunded, especially when dues are as low as for this property. Exterior maintenance almost certainly falls to the owner. Don't skip the inspection and be sure to request the seller's inspection report in the due diligence document request section of the contract. 

For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896. 

922 12th St. | $900K | Pics and Details
By the time you read this, it might already be under contract. This historic home in University Hill has five bedrooms, all above grade, and three baths. It also has a detached one car garage. With a (much-needed) gut and remodel, it could be charming.  

The previous owner was a retired CU professor of Russian language and literature. It's a great location for an academic or anyone who works at the University.  

Listed early this week with an unusual Friday offer deadline, it's under-priced to entice a buyer to take on a complete rehabilitation. 

Due diligence: In addition to being prepared for the cost of remodeling a historic home, buyers should be advised about the location. The park is awesome but also attracts non-resident transients. Student density is also high. We have sold homes to families in this location, and they're happy with their choice, but they also went in understanding the pros and cons. The pin on the map is also incorrect. The property is located just south of the park and has an alley along the north and east. 

For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896. 

775 36th St. | $625K | Pics and Details
An entry-level three bed, one bath ranch in the Baseline neighborhood. It has a few updates like patio doors and windows. Lot size is about right for the asking price. It shouldn't be on the market for long.  

Due diligence: 36th is a through street to Aurora but isn't a straight shot like 35th. There are quite a few rentals in this neighborhood, due to its central location and close proximity to CU but that also makes it easy to find a tenant, should the need arise. For those concerned with capital preservation during a down-cycle, you should be aware that the entry level of Boulder's market lost the least value during the horrific 2006-2009 downturn. Remember, history doesn't repeat, but it often rhymes. Property selection is critical at this stage of the real estate cycle. Talk to your real estate adviser

For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896. 

3025 Broadway #12 | $405K | Pics and Details
A busy location, but also a solid choice for an owner who intends to occupy occasionally (executive residence, grand parent, or CU), wants to be car-free, or for rental. Ideal market and downtown are a short distance away. The Skip stops practically outside your front door and runs every fifteen minutes. Two bedrooms, two baths, and one space in the underground parking area. It's what most lock and leave buyers are seeking. Our last listing here sold quickly and before we could even get it on the MLS (to an owner occupant).     

Due diligence: It wasn't that long ago that the owners in this development were assessed for repairs to the stairs and decking. I also recall some litigation related to it (from one particular owner), but I believe it was settled. Buyers are advised to carefully review HOA financials, minutes, and look for a reserve study. It's also a smart idea to talk to current or past board members. Finally, check for noise tolerance. The units closer to Broadway are more impacted by the traffic.

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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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: Tyler Raye

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.