This stunning house caught our buyers eye and we aggressively pursued it. Not only does it look like it belongs in Dwell Magazine, it actually was in Dwell Magazine. Remodeled for the owner of Cure, every detail was well chosen and tastefully crafted.
The only flaw? It’s on a section of Grape Street dominated by overhead transmission electrical lines, so called high-tension lines. Although there’s a good chance that these lines will one day be undergrounded (Xcel has committed over $30M for the project), for now they dominate the landscape at the front of the home. Still, the design of the home was stunning and captured our interest.
Deal notes: We analyzed the comps and submitted what we felt was a reasonable, albeit sane offer, $200K over list. Turns out we were seriously outgunned. 1045 Grape Street sold for $500K over list. Why would a buyer go to that length? Time has value, and a remodel of this scale is probably a 6 month endeavor (without the addition). With the addition, it's probably 18-24 months for design, permits, and construction. Time has value.
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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.
