I've been crunching the latest data on real estate conditions in Boulder. It paints an interesting picture. Inventory continues to build, as expected, but pending sales spiked dramatically upwards in February.
What does it mean? There's more to the story - a lot more. The real estate market varies by location, down to the neighborhood level. Property type and price range are also key factors. I'll be publishing charts and analysis on the blog and our socials for the next week or so.
From high-end luxury homes to entry level condos, a lot of real estate hit the Boulder market this week. For the first time in years, buyers have better selection and lower odds of ending up in a bidding war. This spring market is shaping up to be a good one. Refreshing, really.
As usual, I've culled the listings that are excessively overpriced, refreshed old listings pretending to be new, or properties in compromised locations. 138 listings hit the market. 7 made the list. Put on your slip-on shoes, let's go see some houses.
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
431 Arapahoe Ave | $2.6MM | Pics and Details
On the market just a few days, this gorgeous historic home is steps from Eben G. Fine Park and the bike path to downtown. Understated on the outside, beautiful and well designed on the inside. Five bedrooms, four baths, and a studio above the garage. It's unclear whether the views are protected. The property was only available for three days and sold for full asking, cash.
Due diligence: Although the park and Boulder Creek are great, buyers should be advised about the high volume of transients who hang out and sometimes even camp on the bank of the creek. In summer, this can also be a very popular spot. If your agent didn't mention any of that, find a better Realtor.
3660 19th Street | $4.5MM | Pics and Details
I advise buyer clients to avoid purchasing on busy arterial streets. Busy locations do not appreciate quickly and take longer to sell. If you see a yellow line in front of the house when you pull up, don't even get of the car. All you can do is talk yourself into a bad decision. I call this my "yellow line rule."
There are always exceptions to a rule.
Take 3660 19th Street, for example. With just under 6,000 SQFT, this six bedroom, seven bath luxury home includes a three car garage, beautiful indoor and outdoor spaces and a 3/4 acre lot. Completed in '95, it's an estate quality property, set on the top of the hill in Carolyn Heights, with a perch that provides a spectacular, and well protected view. The residence is +150 ft from 19th street and there is adequate screening from traffic. The builder, Smiley Construction, is well known for historic restorations throughout Boulder. Unlike a few others popular builders, they deserve their reputation for quality.
3660 19th Street was on the market for just under a month and sold at full asking.
Fresh Listings
So, you want to be close to everything iconic in Boulder? It's tough to beat this location. There are social trails direct to Chautauqua and surrounding open space. Downtown is not far away and it's still easy to get onto US36 or head to the airport.
Completed just a few years ago, this five bedroom, six bath luxury home features thoughtful design choices and high-end finishes. The master suite is generously sized. Additional bedrooms on the upper level have en-suite baths, as does the guest room in the lower level. Don't forget about the day-light, walkout basement.
Due diligence: Take a close look around the exterior for any signs of settling, SPD shows some potential areas that warrant a close look. It's probably all fine, but as I told a colleague this week, we trust but verify.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
It looks like a doll-house, but no. It's real. It's also beautiful inside and in a solid location, close to Ideal but far enough away that it likely won't see much negative impact from the coming Alpine Balsam project. Moderately sized with tall ceilings, five bedrooms, four baths, and tasteful finishes - this should work for a variety of buyers who want to be in the heart of everything.
Due diligence: Square footage on a listing is usually taken from the tax assessor (which is almost always wrong), but in this case is from the company that produced the floor plans. Buyers should verify if square footage is a key factor.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
Indian Peaks is a golf course community on the north west side of Lafayette. It's about the same distance to both downtown Louisville and Lafayette. Even if you don't play golf (I'm horrible), buyers should consider golf course communities around Boulder. First, there aren't many of them. They also tend to feature higher end homes with a greater sense of spaciousness from their neighbors, especially if the home actually backs to open areas or the course itself.
This particular four bedroom, six bath home caught my eye because its well situated on a keyhole lot with views from multiple rooms of the house. Most of the finishes are still current. Outdoor dining and entertaining spaces are attractive. The workshop, theater, and wine cellar are nice touches. For the asking price and square footage, it also can't be replicated.
Due diligence: Based on how most people play, the home should be relatively free from errant golf balls but you may want to confirm by walking out onto the course (and maybe talking to a better golfer). Also, check school performance.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
Back in the day, my dorm in college was a white washed concrete block cell, shared with a roommate. Paul Manafort undoubtedly has it better.
Today, students have better options for housing. For parents who prefer to build equity instead of enriching the landlord, purchasing can be an intelligent choice - especially if they have multiple children who might attend CU. You have to crunch the numbers.
Landmark Lofts is a higher-end, high density, student development located steps from campus. Unit #303 has two bedrooms, three baths, and +1400 SQFT. It also includes one car space in the underground garage.
If you're comfortable at this price point, parents should also consider is whether it makes more sense to buy a stand-alone house rather than invest in a luxury condo. The price is similar, especially when you take out the HOA, but if junior can't handle the responsibility and you are managing from afar, parents are usually better off choosing the attached dwelling. There are pros/cons to both options.
p.s. If you're not a student, cross Landmark Lofts off your list. Trust me. Also, no showings before noon.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
Last on the market six years ago, this adorable historic three bedroom, two bath is located on the west side of Old Town. The kitchen is nicely updated and it includes a one car detached garage. Storage is usually the big problem with historic homes and this one supposedly has plenty.
Due diligence: The usual historic stuff - foundation, electric, mechanical, plumbing, environmental. Pretty much everything, so don't waive inspection entirely if you find yourself in a bidding war. Historic homes require more care and greater due diligence than more modern structures.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
The southwest corner of Longmont is one of the most affordable and family friendly locations anywhere near Boulder. This particular home in Renaissance has three bedrooms, three baths, and an unfinished basement if you need more space in the future. Bike paths from the neighborhood lead to open space. It's also easy to get to shopping or commute into Boulder proper.
Due diligence: I own an investment property in this neighborhood and of course, I'm suffering confirmation bias. Feel free to ask me about the investment performance.
187 Conger Dr.| $375K | Pics and Details
It's not often you find attached dwellings in Nederland, in apparent good nick and with cash flow potential. The location is downtown, it's not in a particularly quaint spot. I'm taking a client to look at it on Saturday.
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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: Akshar Dave
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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: Akshar Dave
