8003 N 63rd Street [Notable Sale]

LONGMONT NOTABLE SALE: 8003 N 63rd Street | $3.73M 

Why Is It Notable?
We've been keeping our eye on this hobby-farm for some time. It's a centerpiece of Dannybrook Farm, a small enclave of luxury homes surrounded by agricultural land in unincorporated Boulder County. Out here in the high plains countryside, water rights are a critical component of valuation, and 8003 N. 63rd Street featured 1 cubic feet per second (CFS) of adjudicated rights, pond stored. The house itself was constructed in 2014 and traditionally designed, with views from nearly every room. It sits on a 2 acre parcel, adjoined by a 91 acre out-lot.

Listing History
Valuation is challenging on this type of property. Instead of a thorough analysis, agents/sellers will go with a SWAG because comparable sales are rare. This was the case for 8003 N. 63rd Street, which has been listed at high as $6.0M and has been on and off the market for six years. Last year, the seller finally got serious and began slashing the price. After five cuts, it finally attracted a buyer and closed last week for the relative bargain price of $3.73M.

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.