985 7th Street [Notable Sale]

 985 7th Street | $2.4M  

What Makes It Notable?  
A custom mid-century home from the 1960's, the overall design was funky and quite dated. We toured it twice with clients while it was available, and both times, we concluded the compromises outweighed the privacy of the lot and uniqueness of the architecture. In particular, the location was difficult to access and tightly nestled next to the neighbors. Ultimately, we just couldn't get our head around it and envisioned the right end user doing a massive renovation.  

Originally listed at $3.1M, it sat on the market from April through August, going under contract twice before it sold. The successful buyer paid a whopping 12.7% below the last list price. That's quite the win. I hope they put their savings toward a budget for an extensive remodel project. They'll need it.  

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Due Diligence  
On paper and in the photos, this home appears quite similar to one we sold a few years ago. They have many functional similarities but on the ground, they're apples and oranges. This underscores the importance of seeing homes in person. The compromises are never obvious from a virtual tour, photos, or listing agent provided videography. A site visit is a must to understand the comps.  

Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our goal is to educate you on market conditions and recent sales to help you make a smarter real estate decision.

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.