BOULDER NOTABLE SALE: 2211 Bluff Street | $1.31M
The north side of Bluff Street in Boulder has a steep slope, limiting the size of back yards. It also contains a number of townhomes in close proximity, most built around the same time period. Still, it's close to historic districts and in proximity to both downtown and the Google Campus.
2211 Bluff is an early 80's townhome, with one bedroom on the main and two on the upper level. It shares a wall with the neighbor and doesn't have an HOA, which could make ownership (and financing) interesting. From a functional perspective, this is a property type that is somewhat challenging for many people with mobility issues. It's also much more common in San Francisco than Boulder. Finishes were adequate, and the interior is quite cute.
Deal Notes: The property was listed in mid October for $1.28M and was quickly snapped up by an eager buyer. It's too bad that buyer was really looking for an option, for just as quickly as they jumped on the property, they terminated. 10 days after listing, and six days after it was under contract, it came back to open market but with a new and improved price: $1.35M. How's that for setting a market signal?
There it sat for about a month before buyer #2 put it under contract in late November. It finally closed during the first week of January for $1,315,000 or 2.6% below the last list price.
Due Diligence: When there's a shared wall and no association, we would caution our buyers to not waive any related contingencies. In fact, building a little extra time would be warranted for legal review. The second, and more common area of due diligence is related to foundations on steeply raked slopes. This era of foundations were woefully under-engineered, and any movement in that hillside could translate to expensive foundation repairs.
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Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our discussion of notable sales is designed to help educate you on market conditions and 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.
