Come on people, step away from HBO for a moment. We're in the SPRING market!
There are over 1,500 listings on the market in Boulder County. Nearly two hundred more hit the market this week, alone.
Can you read past the doctored listing photos and Realtor hyperbole? If you're a buyer, what's worth seeing and what should you skip over?
Many listings are overpriced, poorly located or in compromised locations. Yet nearly 1 in 5 houses during the 1st quarter sold for more than asking in the City. Once again, it's a tale of two markets.
To help guide you, I sifted through what's new and pulled out the most compelling properties to hit the Boulder real estate market this week. To help educate you on market conditions, I've also included several recent closings.
Ready? Let's hop in the Realtor car and 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
Chauncey Stokes was born in a log cabin in New York in 1824, one of twelve children. In 1855, he married Lucey Wylie. Together, they moved to Evanston, Illinois in 1964 where he began work as a builder and architect. Relocating to Boulder in 1875, Chauncey opened a lumber yard and architecture firm. He later oversaw the construction of the first County Court House, the Masonic Temple and several churches in Boulder. In addition, Chauncey designed the President's house at CU and superintended the construction of dormitories.
The Chauncey Stokes House is a restored example of French Second Empire architecture; a rare find in Boulder. Classic layout, upper level bedrooms, two car garage, full kitchen and a legal OAU carriage house, this home exudes charm without giving up modern functionality. Another Smiley restoration and a great Whittier location.
On the market only two weeks before a buyer locked it down, it sold for $50K below asking.
Originally constructed for a prominent Boulder physician, this contemporary gem was completed in 1991 by Sugarloaf Building Company. Located just inside Eldorado State Park, it features three bedrooms, three baths, and about 3,700 finished square feet. The lot size is generous - almost 33 acres, and of course it's nestled into the park itself with year-round hiking and climbing opportunities.
Although now almost thirty years old, the design is still striking and numerous aspects of the home have been recently updated. The home was available for just under a month and sold at full asking.
This was our top pick when it first hit the market in March. No surprise, it was under contract within a week. The spectacular views, potential for cosmetic-only upgrades, and sense of privacy were the selling points. It sold this week for $30K under asking.
Our buyers were active participants in the overheated bidding war for this Louisville quad-level. Our offer was strong; substantially over asking and with minimal contingencies. When the dust settled, we were surprised to learn that there were more than a half dozen offers and the winning one waived everything - yes, including inspection. It's a great house, but as I advised my clients, losing out to an offer that exceeded your comfort level is not losing, in reality. A disciplined approach means to know when to fold 'em. They're now under contract on a far superior home in Boulder proper.
443 E Raintree sold for $30K over asking (+4.6%).
443 E Raintree Ct | $680 K | Pics and Details
443 E Raintree sold for $30K over asking (+4.6%).
One of the most intriguing listings of the spring. This compound includes three separately lots, one of which appears to have some development potential. The combined lot size approaches a half acre and it's well located, just steps from Ideal Market which features great dining options (looking at you Santo). And if that's not enough, it's a short summer evening stroll to downtown restaurants and more shopping.
The structures include a primary house, guest house, studio, and greenhouse. All together, it features six bedrooms, five baths, and about 5,600 tastefully finished square feet. Click through the eye-candy photos (link above) and you'll see thoughtful touches abound. This is an exceptional choice for a family home, with little updating needed - and it's turn-key for the next owner.
Due diligence: Whenever development is a consideration, we recommend our buyers schedule an in-person consultation with a City of Boulder planning specialist. We often attend these meetings with our clients and we also connect them to local, experienced architects to walk through the real potential of the property. When it comes to listing agent hyperbole, trust but verify.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
705 Mapleton Ave | $3.7 MM | Pics and Details
It's hard to believe that this is the same home that traded hands in 2016. Compare the link above to the old listing photos. It's been extensively modified, added-to, and renovated. Now almost 1,700 SQFT larger, every aspect of the interior appears well executed and modernized. If some of the finish choices don't match a buyer's taste, they could easily, and relatively inexpensively be changed. The hard work has been done and it's eye-catching.
From a location perspective, it's also hard to beat the 700 block of Mapleton Hill. It's in the center of the historic district but still far enough away from the crowds at Sanitas so that parking will rarely be an issue.
Due diligence: Curb appeal from the street on this home is understated, which tends to appeal to more conservative affluent buyers, but the reason the exterior has seen minimal alteration is likely because the house is deemed contributing to the District. It's best to conclude that what you see from the street is probably what you get, unless proven otherwise. As with any recently completed construction, don't forget to verify permits were closed out.
537 Terry St | $1.28 MM | Pics and Details
Due diligence: With the exception of the kitchen, the interior appears authentic but could use a bit of attention to bring it inline with current trends. As with all historic houses, we strongly advise our buyers to pay close attention to the state of the foundation, mechanical, electrical, and plumbing systems. These homes were often built on a cobblestone foundation.
This is an unusual and rarely available property. It will take a unique buyer and thus, not likely fly off the market. The last time it was available, it took well over a year to find the right buyer.
Due diligence: Demo and construction costs in Boulder are often far higher and time consuming than most would-be buyers realize. To get a better handle on cost, be sure to consult with a local architect and builder before pulling the trigger. What's that, your Realtor can't recommend someone? Talk to one who can.
3005 Birch Ave | $900K | Pics and Details
Speaking of builders, here's the former residence of an owner of SoBo Homes. It's an oversized, three bedroom, two bath ranch in a solid location in Martin Acres, on a quiet street, with multiple families nearby and great neighbors. Lots of thoughtful and functional touches throughout.
Due diligence: While not a major roadway, Glenwood does get some traffic. The Columbine park and elementary school are just to the west.
Due diligence: It's a reasonable distance from the train tracks, but buyer should verify noise tolerance.
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It's hard to believe that this is the same home that traded hands in 2016. Compare the link above to the old listing photos. It's been extensively modified, added-to, and renovated. Now almost 1,700 SQFT larger, every aspect of the interior appears well executed and modernized. If some of the finish choices don't match a buyer's taste, they could easily, and relatively inexpensively be changed. The hard work has been done and it's eye-catching.
From a location perspective, it's also hard to beat the 700 block of Mapleton Hill. It's in the center of the historic district but still far enough away from the crowds at Sanitas so that parking will rarely be an issue.
Due diligence: Curb appeal from the street on this home is understated, which tends to appeal to more conservative affluent buyers, but the reason the exterior has seen minimal alteration is likely because the house is deemed contributing to the District. It's best to conclude that what you see from the street is probably what you get, unless proven otherwise. As with any recently completed construction, don't forget to verify permits were closed out.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
537 Terry St | $1.28 MM | Pics and Details
The J.B. Thompson House, built in the Queen Anne style in 1887 by the former Mayor of Longmont, hardware store owner, and incorporator of the Longmont and Erie Railroad. For the last 23 years, it's served as a bed-and-breakfast on the west side of Old Town. Today, it features eight bedrooms, ten baths, no garage, but plenty of off-street parking. It could continue to function in its current commercial role, or be converted back to a residence.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
410 Iris Ave | $995 K | Pics and Details
A mid 50's raised ranch on a decent sized lot in Newlands, good location, offered at essentially dirt value. Buyers looking for a structure with good bones on which to build a dream-home should consider it.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
3005 Birch Ave | $900K | Pics and Details
Speaking of builders, here's the former residence of an owner of SoBo Homes. It's an oversized, three bedroom, two bath ranch in a solid location in Martin Acres, on a quiet street, with multiple families nearby and great neighbors. Lots of thoughtful and functional touches throughout.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
2460 Glenwood Dr | $849 K | Pics and Details
While you're looking at oversize ranches, consider 2460 Glenwood. It's in a more upscale and premium location, N/S orientation (better for passive and active solar), three bedroom, two bath, with a two car garage. The interior is not as updated as 3005 Birch, but if you're planning a second story addition and a complete gut/remodel, this might be a better choice.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
2868 Shadow Lake Rd | $779 K | Pics and Details
A classically designed, moderate size three bedroom, three bath in Indian Peaks (Lafayette). Like most homes in the neighborhood, the lot size is quite small but the tasteful finishes (recent construction), custom upgrades, and close proximity to both downtown Louisville and Lafayette make up for it.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
1740 Clover Creek Dr | $515K | Pics and Details
Our gorgeous listing in SW Longmont. This six bedroom, four bath has plenty of space for the entire family at an affordable price. The location is a very quick commute into Boulder or enjoy Village at the Peaks in Longmont. The HOA owned space wrapping this house adds to its sense of spaciousness. Bike paths start out your front door. Surrounded by fruit trees and other edible plants all around the home, it's a gardeners dream.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
237 Sunset Street | $425K | Pics and Details
It's a historic bungalow on the west side of Old Town - well maintained, tasteful updates including the kitchen, a screened-in porch, and a carriage house for guests. Are you surprised it's already gone? It didn't even make it through the weekend. Two days after hitting the market, the seller accepted an offer. Snooze ya lose.
It's a historic bungalow on the west side of Old Town - well maintained, tasteful updates including the kitchen, a screened-in porch, and a carriage house for guests. Are you surprised it's already gone? It didn't even make it through the weekend. Two days after hitting the market, the seller accepted an offer. Snooze ya lose.
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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: James Barker
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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: James Barker
