Investment Strategies: Luxury Homes in Boulder
by Osman Parvez
Want a bargain? Check out the slowest selling luxury home in Boulder. 419 Canyon Blvd, on the market for 1,106 days. Originally priced at $2MM back in 2002, this 2,100 SQFT historic home (in the historic district) was reduced to $1.75MM in August, 2003.
As I recently advised a client looking for a good investment, sometimes it pays to pursue an uncommon approach. New listings and (to a lesser extent) those that have had recent price reductions generate a swell of buyer interest. The MLS system encourages this by sending out “alerts” for new listings and price changes. Meanwhile, properties that have sat on the market for extended periods of time (without a price change) gather far less attention.
“Seasoned” listings have more realistic sellers and there is typically more room for negotiation. If you are looking for a bargain, ask your realtor to help you find listings that have been on the market for a greater than average period of time. You may just find a gem hidden in the rough.
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As always, your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
Investment Strategies: Luxury Homes in Boulder
by Osman Parvez
Want a bargain? Check out the slowest selling luxury home in Boulder. 419 Canyon Blvd, on the market for 1,106 days. Originally priced at $2MM back in 2002, this 2,100 SQFT historic home (in the historic district) was reduced to $1.75MM in August, 2003.
As I recently advised a client looking for a good investment, sometimes it pays to pursue an uncommon approach. New listings and (to a lesser extent) those that have had recent price reductions generate a swell of buyer interest. The MLS system encourages this by sending out “alerts” for new listings and price changes. Meanwhile, properties that have sat on the market for extended periods of time (without a price change) gather far less attention.
“Seasoned” listings have more realistic sellers and there is typically more room for negotiation. If you are looking for a bargain, ask your realtor to help you find listings that have been on the market for a greater than average period of time. You may just find a gem hidden in the rough.
—
As always, your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
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. Learn more about Osman.
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