What is Dirt in Boulder Really Worth? [Holiday Update]

Note: The following introduction was published in the latest edition of Fresh Listings, our weekly newsletter.  Every week, we review the most interesting new listings and notable sales. There's only one way to get it. Sign up.

What's New at House Einstein?

Sadly, there's no puppy beneath our tree. 

It's mid-December. we're wrapping up year-end business, making our annual donations to non-profits we like to support, and getting ready for important holiday events with family and friends.  We're also preparing for our first corporate secret Santa gift exchange. That should be exciting. 

As it happens, we're also preparing to launch one of our most interesting new listings, ever. The rules limit what I can share, but given this is a private newsletter to our clients (and prospective clients), I'll share a few tantalizing details. The house is stunning, with an architectural design on par with a Haertling or Wagner.  The design is Usonian, with three bedrooms, three baths, plus an office. The home is also closely tied with a very significant person in Boulder's history and sits on a giant 1+ acre lot, in a very private and serene part of Frasier Meadows.  If that sounds like your cuppa, call me. 

What's Happening in Local Real Estate?

Anecdotally, Realtors say that they are surprisingly busy. The 2022 real estate season appears to have gotten started early.

Here's the catch: mid-December data doesn't show much in the way of increased listings. All of the activity appears to be on the buy-side, in particular pending sales. Likely, this late season frenzy is driven by the news that the Fed is planning three rate hikes next year. We'll see what happens when January comes around. 

In short: buckle your seat belts; 2022 is going to be a wild ride. 

Weekend Reading

Here's what we're reading this weekend: 

1. As gentrification continues, and newer residents displace those that have lived in Denver's historic neighborhoods for decades, some are pushing back.  My take: good. I think it's important to honor our past and for communities with a vested interest to speak up. New is not always better. 

2. Millennials now represent the largest segment of home buyers, a trend expected to continue to accelerate in coming years. My take: this is a big deal. For many decades, the market has been obsessed with what Boomers have wanted, exclusively. Younger generations have very different buying needs. Here on the Front Range, there's a severe shortage of large-scale, new development, which is driving insane demand for remodeling of older homes and a skilled labor shortage. 

3. Developers of the Park Hill Golf Course are running into strong headwinds as they attempt to convert what was once a city owned golf course into housing and retail space. My take: Nimby-Yimby battles are becoming louder and nastier in Denver and Boulder. Typically (but not always), the dividing line falls between those who already own and and those who rent and wish to see more housing.  Expect more battles in coming years. Personally, I get the equity and fairness argument. I also don't want to see quality of life degraded by unlimited population growth. I'm not sure there's a way to have our cake and eat it, too. 

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.