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416 Pleasant St [Boulder Notable]

BOULDER NOTABLE SALE: 416 Pleasant St | $850K 
We took our clients to see this historic home while it was on the market. Built in 1902, it featured three-bedrooms, two baths and plenty of charm. Unfortunately, the home also showed many signs of deferred TLC. The survey markings around the property also raised more questions than they answered. Provided the budget, this home would be a one of a kind gem in a fantastic neighborhood. It was just too much for our clients to take on and they passed.

Deal notes: The home was listed in July at $1.075M and quickly went under contract. The first deal failed, likely due to survey or inspection issues, and it was re-listed a couple of weeks later. This time around, it took about two weeks to go under contract. It eventually closed for a whopping 20.9% below list.  

Take home lesson: Sellers take a big risk if they list their home with visible and obvious problems. Boundary issues can also take a big bite out of property's value. To maximize sale price, address problems proactively and don't wait for a buyer to discover them. If you're a buyer, this deal is an example of a diamond in the rough and being willing to engage in a tough negotiation. Even with the work needed, an acquisition price of $850K looks like a steal. 

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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.  

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.