A surprising number of old (previously withdrawn/expired) listings hit the Boulder area market this week. Maybe it’s the time of year, but it might also be a signal that the market has started to slow. 


Bottom line: We’re well into record territory for a bull market in real estate. Now is the time to be extra cautious with property selection. Some will hold their value far better than others. Don’t overpay for marginal assets. 


Of course, there were plenty of real new listings too. I sifted through and removed the bad locations, the jaw droppingly overpriced, and the old ones masquerading as new. Here are the ten best listings to hit the Boulder real estate market this week. As usual, I’ve also included a discussion of notable sales.  


Ready to see some houses? Let’s go!

To schedule private showings, including a discussion of valuation, price trends, and negotiation strategy, call Osman at 303.746.6896.



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Sold Listings of Note

1035 Kalmia Ave | $2,243,592 | More Details 

2061 Bluff Street | $835,000 | More Details 

A beautifully updated, historic cottage in a great part of town. Too bad it didn’t have a garage, or expansion potential, or it would have sold much faster. The tiny lot will make it pretty much impossible to add additional square footage (per Compatible Development Regs), so what you see is what you get. Due diligence: The location is great. Epic homes are just up the hill from here and it’s an easy walk to downtown. The challenge was the lack of a garage and storage, which few well heeled-buyers will tolerate. Perhaps it was acquired as a guest home. 





1190 Berea Drive | $714,000 | More Details 

820 38th Street | $560,000 | More Details 

1140 Monroe Drive C | $419,000 | More Details 

I wrote about this one last December when it hit the market. I also took investors to see it. It was among the best I’ve ever seen in the complex – nicely updated and no obvious issues. A comment on the blog post claimed a similar unit rented at $2300/month. It sold quickly: 4 days on market. 


Fresh Listings

To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and price trends, call Osman at 303.746.6896.






Boulder 

2056 Walnut St. B | $1,195,000 | More Details 
A turn-key, lock and leave downtown Boulder property constructed only a few years ago. A good layout, contemporary finishes, and a one car garage complete the picture. 3 beds, 3 baths, plenty of space.  




780 16th St.| $1,195,000 | More Details 

3252 4th St. | $1,150,000 | More Details 

This one checks a lot of boxes for a platform to build your dream home.  The large lot faces south (better for active and passive solar design) and allows adequate expansion potential without running afoul of Boulder’s compatible development or solar access ordinances. The post war construction is of no interest to historic preservation. It’s a large ranch with nearly 1,500 SQFT on the main level and a full basement.  It’s not in a flood zone.  Won’t last. Drop what you’re doing, go see it.  What’s that? Your Realtor can’t see it until next week?  Find one who is more responsive to market conditions.

360 S 41st St. | $799,900 | More Details 
A relatively recent pop/expansion in a good part of Martin Acres. I should know, I purchased an investment property just up the street in the 4th Quarter. HERE is what it looked like 8 years ago before the renovation. Market notes: The seller also had it listed a couple of years ago at the same asking price. The market has caught up. It should sell quickly. 



3860 Colorado Ave F | $575,000 | More Details 

Niwot

9253 Blue Spruce Lane | $2,400,000 | More Details 
Niwot is awash in $2MM+ estate quality properties on large lots. It’s an enclave of exclusivity, only a few minutes from Boulder. The small town center has a handful of interesting retail options, enough to avoid driving into Boulder proper, and the public schools are high performing. With that said, when the market turns, Niwot inventory will most likely pile up as it did during the last down cycle. For capital preservation, selection is critical. This particular one was completed this decade, finishes remain reasonably fresh and the design aesthetic is inline with what most Colorado luxury home buyers want. If you’re shopping in Niwot, this house is worth seeing. Market notes: It was last on the market a year ago, went under contract in 11 days, and sold for 3% below asking. It’s now listed $175K higher. 




Superior

2570 Clayton Circle | $760,000 | More Details 
Ignore the listing hyperbole, there are no “one of a kind” homes in Rock Creek. It’s a neighborhood developed by large, well known builders, with an easy commute into Boulder or Denver. With that said, you couldn’t come close to building this home for the asking price given the upgrades. If it suites your taste, it’s a value play. Due diligence: Rock Creek is well known for expansive soil and potential foundation issues. Do not waive inspection in a bidding war on this one. If your Realtor recommends otherwise or claims to not know anything about foundation issues in this neighborhood, find a better Realtor. 

Investment Opportunities 


1012-1014 S Bowen St | $350K | More Details
An inexpensive duplex in an up-and-coming part of Longmont. The cap rate is probably too low to entice a professional investor. This one checks the box for a primary home buyer who wants to supplement their ownership costs with rental income. Want to own real estate on the cheap? Here’s your chance. 
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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.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 


image credit:  João Silas