NOTABLE SALE: 325 Martin Drive | $705K
Why Is It Notable?
An unremarkable Martin Acres ranch with an unpermitted 4th bedroom in the garage. It's a location I know well. After all, I lived only a few doors down for many years. It's a great spot, perhaps a bit busier than most in Martin Acres (it's a through street) but filled with great neighbors.
We were direct participants in this particular bidding war. Our buyers wrote a strong offer and were disciplined in their approach. They were not successful. This is a tough, tough market for disciplined home buyers. Sometimes buyers lose a few before they lock one down. It's all part of the process.
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Due Diligence
This block of Martin Drive is pop-top row, but prices for construction materials have risen markedly this year. The neighbors (also my friends) will tell you that $400K was about the cost of a second story addition when they did their projects. I'd plan to add an extra $100K given today's constrained labor market and higher cost of lumber.
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.
