What's New at House Einstein - Dec 5, 2021

Note: The following was published as the introduction to the latest Fresh Listings Newsletter, a review of the most interesting new listings and notable sales in Boulder, Denver, and surrounding areas.

What's New at House Einstein?

We had four closings this past week, with deals in Denver, Westminster, and Boulder. After multiple offers, our listing on Chinook, the one with the two-story indoor waterfall, closed at nearly $375K over the list price. Credit for that goes to the seller for trusting our advice in how to prepare and market the home. I also want to thank the entire House Einstein team for their support throughout the process and our colleagues who helped prep the home.  

The new construction purchase at Velo had a few surprises at closing. Supposedly the builder's entire punch-list team walked out just before our closing. Although the issues were all apparently minor, a newly built property shouldn't be dirty and needing repairs at the final walkthrough. We also should have been notified in advance. It's easy to blame the builder, but the reality might be more to do with the intense skilled worker shortage - a problem we expect will likely get worse in 2022. 

In other news, we released a couple of new videos last week; 10 Things You Need to Know about Frasier Meadows is the latest in a YouTube series designed to help buyers understand some of the pros and cons of Boulder neighborhoods. When researching these videos, I always uncover new facts. Perhaps there's a few tidbits in there that even locals don't know. 

The second video is the result of being asked why we stopped publishing Fresh Listings on the blog, The Realtor Police Come Knocking tells the story. Cameo appearance by Jackson, our black Lab. Feedback is welcome. 

What's Happening in Local Real Estate?

The big news in real estate is that conforming loan limits have been increased by the Federal Housing Finance Agency.   Nationwide, the limit is up $98,950 (18%!) from 2021. Boulder County is up 14.2%. Denver is up 14.6%. I don’t anticipate this to be much of a factor in the City of Boulder, where the median price was $1.35M last month, but these new limits could fuel market activity in the low and mid range of the market elsewhere. 

What about market conditions?  In the City of Boulder, the median sold price of a single family house last month rocketed 35% above last year. County wide, the median sold price increased 20.3%. In Denver, the median sold single family house increased 11.7%. For condos and townhomes, the median price increased 11.4% in Boulder County and 18.4% in Denver.  In the city of Boulder, the median sold price actually dropped ever so slightly - 0.1%. 

Note: Our data source historically has separated the City of Denver and Denver County, even though these entities are one and the same. My sense is that some listing agents are using local place names incorrectly or including property in Denver County that shouldn't be included.  Going forward, we're only going to report data that is coded as "the City of Denver."   

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.  image: Colin Lloyd

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.