As we march onward into 2023, it's worth looking back at the largest discounts, and premiums in Boulder County.
The following was originally published on founding broker, Osman Parvez's Twitter.
Owned by seller for decades, this 60's era bi-level was listed for $1.1M and sold for $1.46M, or 33% over asking. Here's the skinny...
Note: The market is not always rational and while it might annoy the buyer and their agent, I'm going to call it as I see it.
1. There are tons of bi-levels in Boulder and they have limited market appeal. For every buyer I have worked with that accepts a bi-level, I have five who won't. I even warn my clients about this because some day, I'll might sell their house. I don't want them surprised by the market reality of bi-levels.
2. OK staging and photos, but showed needed updates, power lines, and traffic.
3. Sunroom addition was very popular and an inexpensive upgrade back in the day (when permitting was easier).
4. Two car garage - a requirement for many buyers.
5. Overall, it's a nice house but the seller got lucky. It's a north-facing bi-level with traffic noise exposure. Also the seller utilized a discount broker, not known for handling negotiations very well. Very lucky, indeed.
For comparison, take a look at 235 Manhattan, a larger and better updated bi-level, less traffic noise that sold a couple of months earlier. For about the same price, you could also purchase a similarly updated bi-level in Table Mesa (albeit with a one garage).
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.
