Newlands, Historic Mapleton, Sobo Ranches [Fresh Listings, Get 'Em Hot]

Newlands, Historic Mapleton, Sobo Ranches [Fresh Listings, Get ‘Em Hot]

Osman Parvez|March 9, 2018|Boulder, Longmont, Louisville|

Spring is on its way.

This week, real estate listings hit the Boulder market all over town: turn-key homes in Newlands, “shovel ready” projects in Mapleton Hill, south Boulder ranches, and more. What’s worth seeing?

As usual, we’ve searched through the inventory. No bad locations, looming overhead transmission lines, or refreshed old listings. Here are the best listings to hit the market this week. Are you ready to see some houses? Let’s go!

To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.

Sold Listings of Note

1155 Canyon Blvd | $5.5MM | Eye Candy
Originally listed at $5.8, this stunning downtown condo was on the market for about four months before the right buyer came along. The location is an A+, which in my book requires as protected view and close proximity to downtown or open space. From a design perspective, Colorado home buyers love having exceptional indoor and outdoor living spaces. It checked that box too. The first silver LEED certified building in the state, so you can brag to your eco conscious friends at dinner parties. They’ll hear you, too. It’s sound insulated from adjacent units including triple pain windows to keep out the traffic noise from Canyon. Three underground parking spaces. The one sold for a 5.1% discount from asking. Fun fact: It’s the former residence for Marc Peperzak, founder of Aurora Organic Dairy and Horizon Organics.

7645 N 41st St | $1.3MM | Photos and More Details

Last spring, my buyers were interested in this property. At the time, it had already been on the market for 11 months. Originally listed at $1.75, the asking price at that point had dropped to $1.56. My buyers were interested because it met a lot of their criteria, but it needed a bunch of updates. We did a careful evaluation of the updating and maintenance it needed, and I told the listing agent we thought it was worth $1.3. If the seller would consider that price, my buyers were willing to write a contract. The response was that the seller wouldn’t consider dropping it even 10%, much less the 16% reduction we were seeking. So we moved on and eventually my clients bought another house. Meanwhile, it stagnated and the price reductions continued. Well, it finally sold this week and the price was exactly what we offered the seller a year ago. Click the link for photos and more details. It’s a cool property with lots of land, views, a pond, and an rv/boat garage. Take home lesson: Price it right and market it professionally if you want to maximize the sale price. There is no substitute for deep market knowledge. Oh, and take all offers seriously especially when you listed it with a wishful thinking price.

317 Bross St | $747K | Photos and More Details
If you’re tracking Old Town Longmont, take note of this sale. It’s a moderately sized, pre-war Victorian with five bedrooms and three baths. It sold for 3.6% below asking after three weeks on market. One of the keys to historic homes is the garage. With small closets, these homes are often very tight on storage space. This one had a detached two car that was also described as a carriage house. Due diligence should include a close look at foundations, roofing, mechanical and electrical systems. Energy efficiency is usually quite poor and maintenance can cost twice that of a newer, more modern home. Deal note: the seller also paid an undisclosed amount in closing costs (likely inspection issues masquerading as a credit).

Fresh Listings

Boulder

2873 6th St | 2.7MM | Photos and More Details
In my fifteen years of real estate, I don’t think I’ve ever been “amazed by the privacy” of a house, especially when it’s smack in the middle of town. Listing agent hyperbole aside, this is a pretty good spot in Newlands and a generously sized, well designed house. It’s nicely updated and well worth your time to see. Three bedrooms on the upper level, two in the basement. Plenty of baths and a two car garage. Negotiation tip: It has sold a couple of times in the last dozen years and never stayed on the market for very long.

To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.

3168 5th St | $1.8MM | Photos and More Details
The cover shot makes it look like a tiny house in the distance. It’s not. You’re looking at a moderately sized 3,740 SQFT home with four bedrooms, four baths, and a two car detached garage. In a good spot in Newlands, a few blocks from open space access. Nicely updated.

521 Maxwell Ave | $1.5MM | Photos and More Details
Years ago, the first agent that joined my company owned a house just up the street. Soon after she started working with us, we were invited over for dinner and I fell in love with Mapleton Hill. The historic district is stunning, with tall well tended trees and beautiful homes that have stood the test of time – not just for their classic design but as sound investments. This one has a second dwelling behind the main house and comes with a set of approved plans for expanding the primary residence. Could be quite a deal at this price, or it could be a complete train-wreck. Only an in-person visit will answer the question. Showings began today.

To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.

2480 Balsam Dr | $1.5MM | Photos and More Details
Snooze, you lose. This bi-level was on the market just one day before an eager buyer snapped it up. Listings on the Alpine-Balsam peninsula are very desirable but a big piece of the valuation depends on the view quality. There are also recorded architectural restrictions to add to your due diligence, but many have carved that path ahead of you. Too late, it’s gone. Next!

p.s. It may still be worth putting in a back up offer, especially if the buyer didn’t realize the standard challenges inherent in building in Boulder, much less additional restrictions recorded with title. This one could come back. Rule of Thumb: The faster it goes under contract, the more likely a buyer is to get cold feet.

To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.

2341 Bluff St, Boulder | $1MM | Photos and More Details
The house is a scrape. Too bad it’s historic. The value is based on the secondary dwelling you can (potentially) build in the back. Coveted RMX-1 zoning allows it, but you have to be familiar with the other restrictions in order to make a fast decision. Those restrictions include historic review, solar access, green building codes, and compatible development rules. It’s way beyond standard zoning setbacks. This is why we have architects that we bring to our showings, but only when it’s warranted. Solid location. Definitely worth a look. Could go very fast.

7388 Park Cir, Gunbarrel | $988K | Photos and More Details
It’s funny, we were just talking to new clients about the advantages of Gunbarrel. They’re a few months off from getting serious, but this home is a prime example of how you get a lot more house with only a 10 minute drive from town. Five bedrooms, five baths, and a generous +5,000 SQFT built in the late 80’s. Backs to the park. The interior finish on this house is a bit traditional and could use some refreshing, but when you’re starting below $200/SQFT, it’s a bargain. It’s often more cost effective to remodel the interior than start from scratch.

To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.

3760 Lakebriar Dr | $899K | Photos and More Details
There are a handful of attached dwelling options in this part of Boulder, but they’re rarely on the market for long. A deep pool of Boomers want the low maintenance of an attached dwelling but also in a great location, near open space and Lucky’s. The listing agent is expecting multiple offers and will probably get them. Due diligence: Check out the reservoir in the back. Also ask about any HOA restrictions on short-term rentals, it’s becoming increasingly common.

915 Miami Way | $839K | Photos and More Details
An east/west oriented ranch with a basement, four bedrooms and three baths. It’s also three houses from a busy street (my minimum rule). Check for noise tolerance, especially during the commuter work rush from NOAA. Widows and baths look updated. Basement finish looks fresh. Lot size is a little on the small side. Depending on the width of the driveway, this could be a good candidate for a pop. Negotiation tip: When you’re evaluating the comps, Mr. Market says you can pay 10% less for an equivalent ranch in Majestic Heights or Martin Acres.

To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.

Louisville

2410 Rose Ct | $1.1 | Photos and More Details
The North End in Louisville is an attractive location. A three bed, three bath on a cul-de-sac with the bike path in the backyard. Built in 2011, with finishes that have aged well. Market note: Home in adjacent Lafayette neighborhoods sell for a significant discount, largely due to the schools. Bring your bikes to the showing so you can check out nearby Waneka Lake and the ride into downtown Louisville.
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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: Wilfried Santer

Newlands, Historic Mapleton, Sobo Ranches [Fresh Listings, Get ‘Em Hot]