BOULDER NOTABLE SALE: 1175 Georgetown Rd | $3.6M
- We toured this property multiple times with our buyers. It’s one of the most beautiful homes we’ve seen ever listed in the Table Mesa neighborhood. A clean sheet design from the ground-up, it’s rare to see a spec home with this level of design.
- Deal Notes: Originally listed just below $4M, the challenge for the seller was the lack of comps at a similar level in the neighborhood. To make matters worse, shortly after listing, a redevelopment began directly behind the house. Uncertainty regarding how the views and privacy would be affected by the newly constructed neighboring property impacted its marketability. The property ultimately sold for $3.6M, about a 10% discount to the list price.
- Take Home Lesson: Be careful developing (or buying) a spec in a location that pushes the comps. This home is now undoubtedly the most expensive property in the immediate neighborhood.
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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.
