536 La Farge Avenue | $1.17M
For more than a decade, Buyers have been snapping up old miners cabins and other historic homes in downtown Louisville and completely re-imagining them as almost new, modern homes. Values today regularly exceed $1M for homes in solid locations like this one.
Why is it Notable?
Old Town is Louisville's equivalent to Mapleton Hill, with a 60% discount (or more). Plus, it doesn't have college students, tourists, and the same level of issues with transients. This is why we often recommend our buyers consider it (among a few other areas).
536 La Farge Avenue was owned by one family for an extended period, who later updated it to feature vaulted ceilings and tasteful entertaining areas. The only thing missing was exceptional outdoor living areas and a seamless indoor/outdoor transition - a likely project for its new owners. It was listed for $1,375,000 in December and underwent several price reductions before a buyer saw the value. It closed in early July for $1,174,000
Q: Why did this property take so long to sell while others have flown off the market? A: It's as easy as 1-2-3. (1) listed at the worst time of year, (2) listed prior to construction completion, and (3) initially overpriced. Compare to other recent sales of remodeled, restored, or renovated homes in downtown Louisville.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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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. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
