2156 Magnolia Road [Notable Sale]

Why is it Notable?
Originally offered at a wishful thinking price of $2M, this property checks a lot of boxes for mountain dream homes. Constructed in the 90’s, it has an attractive design and excellent views. It’s sitting on over 9 acres of land. The functional floor plan, adequate bedrooms/baths, and giant workshop make it a year-round, primary home option. The short driveway and reasonable 7,000’ elevation, ~twenty-minute drive to town (when weather and canyon construction cooperates), and nearby public open space trail access completes the picture. If they had priced it right at the beginning of the listing, it probably would have sold much, much faster and for more.   

Due Diligence 
By the way, our recommended mountain home due diligence is much deeper than that for historic homes. When we represent mountain home buyers, we advise a careful evaluation of surveys, water testing, fire mitigation, seasonal access, and easements. And that’s just to start. In the case of Magnolia Road, it’s also important to understand the issues caused by nearby dispersed camping and how it might increase fire risk. 
2156 Magnolia Road sold for $1.46M or 8.7% below the last asking price.

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.  

Please Note

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.