This week's fresh listings include drool worthy mountain estates, brand new spec homes, and adorable small-is-beautiful options.
Remember, the market continues to cool. Prime locations and homes at the entry level are still seeing strong demand and bidding wars, but inventory is starting to pile up at the higher end. Careful property selection and disciplined negotiation are now critical to reducing risk of capital loss. Welcome to a buyer's market.
Market update: Inventory was up 35% in the City of Boulder for houses last month, while sales slid 26.3% (YoY). Longmont fared better, with sales sliding only 7.5% and inventory increasing 12.4%. Remember, intelligent real estate decisions are based on market knowledge. Whether you're buying or selling, there is no substitute for current, relevant data and deep analysis.
Over one hundred properties hit the Boulder real estate market this week. Nine made the cut.
For private showings and discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896. Worth seeing doesn't always mean worth buying. My goal is to help you make a smarter real estate decision.Fresh Listings
22955 Peak to Peak | $4.5M | Pics and Details
Located just south of Ned, this +42 acre estate backs to National Forest and features a late 80's luxury five bedroom, four bath home. Included in the deal are a private pond, indoor ice skating rink, and twelve person copper hot tub.
Zamboni driving fantasies aside, the house was designed with rugged Rocky Mountain finishes and feels like a classic mountain home. It's also less than a ten minute drive to Nederland. You know, when you want to experience a little local culture.
These types of luxury properties can wait a long time for the right buyer to come along, so you probably have plenty of time to go see it. From a valuation perspective, the last arms-length sale was in March of 2016 for $3MM. It's unclear what improvements have been made over the past three years.
Due diligence: Although it backs to National Forest, there are forest roads and campsites just to the west. That means public use. Be sure to go check those roads and campsites out and talk to neighbors before your inspection period ends. Have your agent look at comparable sales, with a focus on lot size, location, and negotiated discounts vs DOM. If your agent shrugs and says, pay what you think it's worth, choose a better agent. Finally, don't forget the usual mountain property checklist items, especially fire defensibility.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
3074 15th St | $3.3M | Pics and Details
A solid location, just south of Growing Gardens and a few blocks north of restaurants and the shops at Alpine and Broadway. The crisp, mid-century, luxury home features an open and spacious layout, with four bedrooms, five baths, and just under 4,000 F. SQFT.
Due diligence: Buyers should carefully evaluate failed inspections for rough electrical, mechanical, and roof and review corrective measures applied by the builder. Final inspections were completed on June 19th.
Remember, worth seeing doesn't always mean worth buying. Review lot value, cost of construction, and time value with your Realtor.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
2455 Cragmoor Rd | $1.7M | Pics and Details
A large 1970's ranch (without a basement) in a premium location, with exceptional South Boulder open space just steps away. The home's design features natural wood paneled cathedral ceilings and a walkout to the outdoor living/entertaining areas, but was last remodeled about twenty years ago. From a functional perspective, it has four bedrooms, three baths, and just under 3,800 F. SQFT, which should work for most buyers. Devil's Thumb offers additional amenities potential buyers should also consider. For a relatively low association fee, your family will enjoy access to a private community pool and tennis courts.
Due diligence: Talk to the neighbors about potential parking or other issues due to the nearby trail head prior to submitting your offer. This one isn't quite turn-key, but the post-acquisition investment is likely modest, possibly limited to a kitchen/bath upgrade and larger windows.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
3171 4th St | $1.6M | Pics and Details
Right on the popular 4th street cycling route, with social trail access to Mt. Sanitas around the corner on Forest Ave. The original structure is from the 1940's, but it's been extensively remodeled. Today, the home is understated on the exterior but will impress the moment you walk in the door. It features three bedrooms, three baths, and a reasonable ~3,000 SQFT.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
7865 Arlington Dr | $1.59M | Pics and Details
A late 70's two story, remodeled somewhat recently, with five bedrooms, five baths, and that backs to City of Boulder open space. It's also in unincorporated Boulder County, which typically means somewhat lower property taxes and no rental licensing restrictions (for now). Solid schools, great views.
Due diligence: Potential train noise. The last I heard, the power plant is scheduled to be decommissioned.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
For optimal mountain property investment performance, I recommend prioritizing year-round access, proximity to Boulder, privacy, and a design that maximizes the experience of being in the mountains. This four bedroom, four bath, early 90's two-story appears to check most of those boxes. The lot size is reasonable. It's a ten minute drive to downtown Boulder. Interior and exterior finishes appear to date from the time of construction. Pop some rough hewn rock finishes on the exterior and do a kitchen refresh.
Due diligence: The usual mountain property items: fire, septic, water. It also looks like this property has a shared driveway with three neighbors. If so, take a close look at the easement as part of your title review, including seasonal maintenance requirements. Don't waive the survey objection in the contract. Finally, while Boulder County currently has no rental licensing, it might change in the future.
Due diligence: The usual mountain property items: fire, septic, water. It also looks like this property has a shared driveway with three neighbors. If so, take a close look at the easement as part of your title review, including seasonal maintenance requirements. Don't waive the survey objection in the contract. Finally, while Boulder County currently has no rental licensing, it might change in the future.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
Located just off Flagstaff Road, this two story mid 70's home features three bedrooms, three baths, and a modest ~2500 F. SQFT. The unfinished workshop is generously sized, and the artist studio is a nice bonus. Nicely finished
inside and out, with exposed beams and situated on three acres of land, this one appears like a relative bargain.
P.S. It never hurts to have a nice street name, especially one named after one of the cutest animals on the planet (what troll down voted this video?).
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
435 Park St | $739K | Pics and Details
A buttoned-up and attractive three bedroom, three bath on the south side of Lyons with eye candy finishes. The house is somewhat smallish, but it appears they've made the most of the space.
By the way, Lyons continues to improve. It's no longer just a gateway to Rocky Mountain National Park. It's a worthy destination in its own right, has many popular events, and gets a ton of seasonal visitors.
Due diligence: Evaluate the location for traffic tolerance/screening potential. It's at the corner of St. Vrain Drive. Also, Lyons requires licensing for short term rentals. Review restrictions carefully if your investment thesis hinges on AirBnB. Short term rentals must be owner occupied for 9 months of the year (or longer). Check for permits.
For private showings and a discussion of market conditions, valuation, and negotiation strategy, call Osman at 303.746.6896.
Due diligence: this home has a long list of recent work, including a new foundation, sewer line, mechanical, roof, and more. That's all a plus, but make sure you include invoices, receipts, and warranties in the due diligence document section of the contract.
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232 Gay St | $679K | Pics and Details
A historic three bedroom, three bath in Old Town Longmont with a dollhouse interior. The main house has tall ceilings and feels spacious. The permitted guest cottage has many potential uses. It's reasonably close to restaurants and shopping.
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: Wooozxh
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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: Wooozxh
