517 15th St [Notable Sale]

NOTABLE SALE: 517 15th St | $3.78M 

What Makes It Notable?  
We've written about this house several times over the years. Located in lower Chautauqua, it's a historic field-stone cottage with a large, modern home built out from the rear wall. To some, this home represents a planning failure. To point, the City of Boulder Historic Preservation Department has been known to drive new staff past this house to illustrate one of the challenges with current code - one that allows an owner to develop nearly anything they'd like from the rear wall.  

In this case, the historic cottage has become an entry room to a modern contemporary house. To be frank, the mismatched style is jarring in person and has limited appeal. As always, Mr. Market makes the final call, but market data shows this home has come up for sale quickly after acquisition and takes a long time to find a buyer. We hope the new buyer has better luck with it than the previous owners.  

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Prior to this sale, 517 15th Street last sold in June, 2016 for $3.4M. The owner tried selling it only a few months later for $3.55M. The listing expired after being on the market for a little over a year; then they re-listed it at $4.25M November, 2020. It sat on the market until it was withdrawn June 1, 2021. The same day it was re-listed for $4.15M, withdrawn 45 days later, then re-listed 4 days later at $3.95M. It finally went under contract late September and sold October 18 for $3.78M, just in time for Halloween.  

Pro Tip 
Always check the past listing history. If a property has had difficulty selling in the past, you can safely expect it will have difficulty again in the future. It still might be the perfect house for you, but you should be prepared for a long listing period when you attempt to resell it.  

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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Thinking about buying or selling and want professional advice?  Call us at 303.746.6896. Your referrals are deeply appreciated.  

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.