What's New at House Einstein?
- For the second weekend in a row, we received an offer for one our listings which did not reach agreement on terms. Some buyers are getting more aggressive about low offers while others are becoming skittish, some sellers are making drastic price cuts while others stand firm firm. It's a standoff. Take home lesson: Regular analysis of the competition is crucial. We do it weekly for our listings to better advise our sellers and we solicit feedback with phone calls, not easily ignored automated emails.
- We successfully put three properties under contract for our buyers since the last newsletter. We'll release more details on those transactions as we get through their contingencies. Sophie also had a closing for new construction in Denver and she's preparing to bring a new listing to market in Nyland.
- We successfully negotiated a tough inspection resolution, a mere minutes from contract termination. The takeaway: Not every buyer wants a cash credit for inspection issues. If the answer is for the seller to take on repairs, crafting resolution language, expectations, and contractor choice can be done, but it takes time. It helps to pay attention to the time of day deadline.
- Property management update: Recent extreme heat caused two of our rentals to experience air conditioner failures. One was repairable, the other will need complete replacement. Due to labor and supply chain shortages, the cost is roughly 3X what was expected. Even trying to schedule estimates has been challenging. Our tenant without A/C has graciously accepted a portable unit while we work on getting her system replaced.
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.
