Time to Smell The Flowers [Boulder Fresh Listings]


This week's fresh listings includes the rarest of the rare, one of the largest and most private estates on Sunset Blvd. In this post you'll also find good examples of improvable options throughout Boulder, everything from basic ranches to one of the oldest homes in the City.  

Inventory also continues to rise. For buyers, that means it's important to be more selective. Sellers should also be more judicious in utilizing professional marketing approaches and pricing ahead of the curve.  

Ready to go for a ride? Hop in, let's roll. 

Before we get started, a quick market note: Last month inventory was +21.7% YoY for houses and +28.3% YoY for attached dwellings in the City of Boulder. Buyer demand appears to be absorbing the added house listings with sales volume up +20.8% over last year, but condo/townhome sales dropped 25.4%

Don't forget: the market varies dramatically by price range, location, and property type - down the street level. Intelligent real estate decisions are based on deep market knowledge. 



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 
2800 5th Street | $1.9M | Pics and Details
Proving the value of a large lot in Newlands, this +14,000 SF dirt patch has an existing, and modest, mid 60's ranch with a basement - the most important aspect of which is that it will not require historic review to remove. Keep in mind, to remove an existing structure, you can no longer scrape it into the dumpster. In case you haven't heard, Boulder doesn't allow demolition any longer. Structures must be deconstructed and recycled. 

Listed at $1.65, 2800 5th Street sold for $200K over asking. If the new owner is on it, they'll hit the gas and get their permit filed soon. The city has decided large homes are immoral and it's on a mission to ban large homes entirely. Expect new regulations soon. 

P.S. I look forward to the day when "hit the gas" confuses future generations. The future will be electric!

3030 23rd Street | $842K | Pics and Details
An ordinary mid-century ranch with a full basement, on a typical size lot, cosmetically updated but nicely staged. We saw it with our buyers and they felt it was a nice platform, but they preferred to do their own improvements. Listed at $799K, it sold for $43K over asking (+5.4%). 

Due diligence: This location continues to be in high demand due to its proximity to downtown, the 30th/pearl nexus, access to bike paths, and overall centrality. Ranch style homes (especially with basements) often attract buyer attention because they're an excellent platform for second floor additions.  


Fresh Listings


1489 Sunset Blvd | $7.5M | Pics and Details
True legacy assets are rarely available. This estate has been owned by a single, exceptionally successful owner for nearly twenty years. It's in a class all on its own. 

Let's start with the lot: an estimated 1.3 acres located on the north-west corner of Sunset Blvd, one of the most exclusive streets in Boulder. Of course the perch has exceptional views, but it's also flanked by Casey Middle School, which provides an additional buffer. The result is a private oasis in the city. 

The existing +6,000 SF family home was constructed in 2001 and oriented to feature the beautiful mountain views. Finish choices, while luxurious, are starting to look a little dated. Few buyers need a seven bedroom home, but this type of property is so exclusive, it's a must see - assuming you're qualified. Don't expect to schedule a showing without proof of funds. 

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


508 Pleasant Street | $3.3M | Pics and Details
A historic vernacular frame one and a half story house, originally constructed in 1900 and thoroughly expanded and updated to Leed certification. It features four bedrooms, four baths, a two car garage, and a very attractive location.

Due diligence: Last traded in September 2015 for $2.15M. The seller's addition increased the home's size by 655 T. SQFT. If you ballpark the cost of the addition and renovations at $500K, it pencils out to a reasonable 6.42% IRR at the asking price. Review the owner's list of improvements carefully. For comparison, here's what it looked like in 2015

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


429 Highland Avenue | $3M | Pics and Details
The exterior color may not suit every buyer, but try to look past it. Paint is cheap. The Blystad house is a one and a half story brick home in a somewhat modified Edwardian Vernacular style. It was originally owned by Evan and Marie Blystad and their six children, Norwegian immigrants. Originally landing in NY and then later Sioux City, Blystad moved to Boulder to work on the Sanitarium. Later, the home was owned by Boulder Realtor Joseph P. Giroux. The home features three bedrooms, four baths, and is located in a highly desirable location. 

Due diligence: The listing says the home was constructed in 1920 but the Blystads were living here in 1900. The home is deemed contributing to the district. Do not expect to be able to do much in the way of exterior modifications but the existing 2,556 SQFT could be a suitable palate for an adorable and light interior remodel. Really, it's just that bathroom. 

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



2005 Vassar Drive | $1.79M | Pics and Details

A home with views and a perch worthy of investment. The existing structure of the home is reasonably sized and already oriented to feature the view, perhaps giving the new owner an opportunity for a cosmetic remodel. Only an in-person showing will tell. Regular readers know we've been obsessing over Table Mesa, with a number of recent sales. The key to valuation is all about understanding the rarity of the lot size, view, and potential of the existing or future structure. Buyers should bring a budget to gut the interior with an eye to retaining the late mid-century charm. Combining two or more of the bedrooms to create a master suite may also be a wise move. 

Pro-tip: Don't be surprised if you're not the only cash buyer at the table for this one. 


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


574 Arapahoe | $1.5M | Pics and Details
The listing says it was constructed in 1920, but this lovely home on West Arapahoe is really one of the oldest structures in the city. It was originally constructed prior to 1887. Although it's unclear who was the original owner, William and Bertha Mitchell lived in this home in the late 90's - that's the 1890's. He was a miner. 

As it stands today, the home features classic curb appeal, five bedrooms and two baths across ~2,400 F. SQFT. It appears well preserved with some modest updates. 

Due diligence: The location is on the corner of 6th, which is somewhat busy. Buyers should consider how it might be better screened. In addition, it lacks a garage so don't forget to think about storage and the potential, or lack thereof, to add space later. 

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



2000 Dartmouth Avenue | $1.3M | Pics and Details
This home features four bedrooms, three baths, and backs to rarely used West Highland Park open space; on the upper end of Dartmouth where it dead-ends. We're very familiar with this area and we're not sure there is even a trail into this open space. It's listed as a two-story but it looks more like a raised ranch to us. In addition, the interior was recently been updated.  

Due diligence: Although the lot size is a generous +12,000 SQFT, it backs to steeply sloped open space which can create its own challenge when it comes to drainage. The biggest deficit is the lack of back yard.

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





2996 24th Street | $775K | Pics and Details
It's obvious this home was tenant inhabited so make sure to put your due diligence caps on. This one might be perfect for an expansion and second floor addition. However, make sure to do your homework. Dun, dun, duuun!

Originally built in 1958 this five bedroom, two bathroom brick ranch has hardwood floors and a full basement. 

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



137 Alpine | $724K | Pics and Details
Mountain properties are typically in poor condition and have lots of deferred maintenance. This one now only looks mostly buttoned up but features water and mountain views. It's also close enough to town to stroll or ride a bike to restaurants.  

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. 
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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.