A Frasier Meadows rambling ranch, larger than most. Just before it went under contract, we identified this home as a prime candidate for a low offer and took one of our buyers to see the property.
Our analysis showed a post-acquisition investment of at least $200K to make the home livable. Our client’s response: “To put it succinctly, do I want to look back at days managing a house remodel, or be looking back at outdoor days and volunteering?” They passed.
From a deal perspective, this home was an excellent value for a home with good bones in Frasier Meadows. It was listed at $1.52M in October. The seller cut the price to $1.4M in mid November. The buyer acquired the home for $1.25M, or 10.4% below the last list price.
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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.
