BOULDER NOTABLE SALE: 1047 Balsam Ave | $3.0M
Beautiful and nearly new construction, with five bedrooms, six baths, and a two car garage. It’s also in extremely close proximity to Ideal and an easy stroll to downtown. Despite the turn-key nature of this home, it took nearly a month to find a buyer. Listed this past August. Closed for $250K below the asking price, or 7.7% below list in a conventional mortgage acquisition (i.e. not cash).
Due diligence: The buyer took a big gamble given uncertainties related to the massive Alpine Balsam project directly across the street. Were they advised about the scale of this project, the hassle of living next to major construction, and the potential impacts of higher density? We sure hope so.
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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.
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