There’s Always Another House [Fresh Listings, Get ‘Em Hot]
It’s hard for me to believe. I’ve been working with buyers and sellers for nearly 15 years. Based on all those years, this I know for sure: There is always another house. If you missed out on a listing, it’s best to lick your paws and let it go. When you’re ready, dust off and get back in the game.
Yes, losing a bidding war can be painful. Sometimes another buyer, with greater financial resources (or far less prudence) wants it more than you do. Meanwhile, “winning” only to get cold feet a few days later and bail out is not winning at all. It’s damaging to the seller and to the buyer as well. Boulder is a very small community when it comes to real estate and the vast majority of deals are done by a handful of agents. I’ve worked with these other top agents many times and let me tell you the second thing I know for sure: reputation matters. This is one of the reasons we have in-depth discussions of the pros/cons of houses, carefully vet offers, confirm intent, and only submit (or accept) serious, well written offers.
Ready to shop for houses?
It was actually tough to select properties this week. There were a lot of good choices that hit the Boulder real estate market. If you’re ready to jump in, here are the best.
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
A discussion of important sales to help you better understand market conditions.
6121 Songbird Cir | $2.08MM | More Details Sombrero Ranch is a small development of mostly higher-end homes built in the 1980s, located just east of Flatirons Golf Course. It’s situated in unincorporated Boulder County, which adds a variety of pros/cons (talk to your Realtor). This particular four bed, four bath was marketed as a “complete rebuild,” although I think they really meant refinished. It’s an attractive, traditional home with four bedrooms, four baths, three car garage and a touch under 5,000 SQFT. First listed for $2.18 last year, the seller brought it back to market this spring at $2.08. It sold at asking, cash. Take home lesson: It’s critical to know the real value of your property and agree on a marketing strategy with your agent before listing your home for sale. The only way to do that is with a deep market analysis, there is no substitute. At the higher-end of the market, listing periods tend to be longer, which is why it often pays to be more aggressive on pricing.
3120 14th St | $1.88MM | Eye Candy
A good example for what’s possible when you build atop a basic 50’s ~1,200 SQFT ranch. The developer popped the top and expanded the SQFT to more than 4X the original size, likely maxing the potential for the ~8,000 SQFT lot. Five bedrooms, five baths, indoor and outdoor entertaining spaces, and a two car garage rounded out the picture. The location is excellent, east of Broadway and just south of the Hawthorne Gardens. Click the link above for the eye candy photos, they’re worth it. Market note: The last time the house traded hands was October 2015 for $1.64. $240K of appreciation over a 30 month holding period. As my friend Rob C would say, “not bad given that you lived in the house during that time.” It’s also proof of the premium buyers are willing to pay for turn-key, updated homes.
Fresh Listings
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
Boulder
1600 Blue Sage | $4.0MM | More Details
Properties in premium locations, particularly those that back to open space or in close proximity to downtown, lose less value during downturns and appreciate better during the upside of the real estate cycle. A few years ago, I sold a similar property on an equivalent perch in Devil’s Thumb. Today, that purchase price looks cheap, but at the time, my c-suite client initially felt the +10% premium over similar homes (without the open space or views) was steep. It took some convincing (with lots of data), but eventually he agreed and pulled the trigger. This particular house has the same story. Materials and design currently reflect the mid 80’s vintage, but this is the type of property that will benefit from remodeling with modern materials and techniques to maximize views and create a seamless transition between indoor and outdoor living areas. It also happens to be in South Boulder, with the areas best schools and easy access to trail heads.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
725 7th St | $4.0MM | More Details
Chautauqua adds tremendous value to the immediate adjacent neighborhood. From cultural events to concerts, to trails and nature tours, it’s one of the reasons (of many) that people live here. My first home in Boulder was just down the street and to this day, I miss the ease of hitting Boulder’s most iconic trails for a morning run. This particular five bedroom, five bath home is generously sized at 5,200 SQFT and features a nice layout and well designed outdoor living areas. It’s reserved and understated. Mid 2000’s construction. Due diligence: For as long as I can remember, parking has been a problem not just at Chautauqua but into the adjacent streets. The city has fully adopted a pilot program to mitigate the parking situation, but prudent buyers should verify the front yard experience on a busy weekend.
100 Valley View | $2.3MM |More Details
At +7,000 finished SQFT, this giant early 90’s mansion is for a buyer who (a) desires that sort of luxurious space, (b) wants killer views and a quick drive into Boulder, and (c) has a budget and the patience to undertake needed updates to modernize the interior. The views are jaw dropping, for sure, but the interior begs for a substantial refresh. Lots of bedrooms and bathrooms, for your extended family and other guests. Enough space to be by yourself and avoid them, too. Worth a look. Due diligence: When we represent buyers, our checklist for mountain property begins with water, septic, fire mitigation, and winter access. Property orientation is also critical. That’s just the starting point.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
1435 Upland Ave | $2.2MM | More Details
On the market only two days, and this five bedroom, five bath is already under contract. Why did a buyer snap it up so fast? The lot is worth 50% of the asking price alone. It’s a full half acre and has critical north/south orientation. Due diligence: This property is right in the middle of the 100 year flood, which restricts future permits for substantial modification or substantial improvements. Buyers should make sure they understand those technical terms and verify mitigation for future events. They should also check that damage from the ’13 flood event was professionally repaired. Talk to you agent.
830 Grant Pl | $1.5MM | More Details
I’ve got a soft spot for this location. With a short (and fast!) bike ride, you’re right downtown. Head uphill and Chautauqua beckons. The streets are lined with mature shade trees and many of the homes retain their historic charm. You’ll also find decades of capital reinvestment by homeowners. The main level of this cozy three bedroom, four bath features vaulted ceilings and a galley kitchen. The lower level has remodeled baths and functional living spaces. Due diligence: With a pre-war construction date and a tiny lot, what you see is almost certainly what you get. The one car garage could be a challenge for gear heads. If your agent isn’t familiar with compatible development, solar access, green building, and other constraints – find one who can better represent you.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
737 Pearl St |$1.35MM |More Details
Last on the market in 2013, this late 70’s stick frame town home is in an exceptional location on West Pearl. Some updates and a reasonable HOA. Four bedrooms, three baths, and carport parking. Due diligence: Associations are the bane and blessing, with shared costs (and rules). Pet restrictions and regs against short-term rentals are increasingly common. Special assessments and liability is also shared. Do not waive the association review to win the bidding war. You can always Uber to downtown.
5017 5th St | $925K | More Details
A ~3,000 SQFT town home in Dakota Ridge. High quality open space is practically at your front door. It has three bedrooms, five baths, and a two car attached garage. Built in the early 2000’s, fronts on the park, classic row home style. Market note: The North Boulder Subcommunity plan is gaining steam and the Nobo Art District is a likely possibility. The strip club is going away soon. There are plenty of restaurants but no major grocery store nearby.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
547 Utica Ave | $850 | More Details A clean three bedroom, two bath, mid 80’s town home. The location is west of Broadway, near Wonderland Lake Open Space. Interior needs updating. A good option for downsizing Boulderites. Lucky’s is your nearest grocery option, which includes a couple of restaurants and a bakery. Market note: The shortage of adult (i.e. non student) attached dwellings in Boulder is currently being filled by S’park and the Peloton, but the wave of Boomers seeking lock and leave downsizing is just beginning. A key component of value for this property is the location, which is far superior to most new build options.
1529 Easy Rider | $615K | More Details
And it’s back! This modern beauty absolutely flew off the market when it was last available a year ago, likely due to it’s rare availability. The previous owner, did a bunch of attractive updates. Two bedrooms, one bath, and just under 1,000 SQFT. 1 car garage and an ecopass, included. Market note: Since it was built, our buyers have either consistently loved or hated the Holiday Neighborhood. There doesn’t seem to be an in between. New Urbanism isn’t for everyone but for those who want it, there really isn’t another choice in Boulder.
930 Neon Forest | $1.1 | More Details
Prospect is one of only a few locations I recommend to buyers considering Longmont. It’s filled with interesting, and visually attractive architecture, plus the neighborhood has several fun dining and drinking options. During the summer, the community comes to life with family friendly events like a food truck night. In the autumn, half of Longmont seems to show up for Halloween. This particular house is a beautiful execution of traditional design, but with many modern touches. Six bedrooom, six baths, a carriage house, and multiple living and entertaining spaces. Likely won’t be on the market for long. Pro-tip: Be sure your agent takes you to see new build options.
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
1131 Jefferson Ave |$912 | More Details
In a good spot in old town, this is a pre-war four bedroom, two bath Craftsman with a 2 car car-port. The interior has some updates including a gourmet kitchen. It was quickly snapped up when it was last on the market in 2013. Given the incredible shortage of inventory in Louisville (absorption is nearly 90%!), it likely won’t last long.
Lafayette
408 E Chester | $439K | More Details
Only a few blocks from the center of Old Town, with a variety of restaurants and shops. This three bedroom, two bath has had some updates since it was originally built in 1914. The lot size is reasonable , which is good because you’ll need the space add a garage. It’s affordable and filled with historic charm, but the fact the listing leads with the interior suggests it may need some work. Due diligence: If you have school age children, talk to your agent fracking protests that are currently underway for the oil/gas development planned for near the school.
—-
Want this blog via email? Sign up HERE.
Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.
Follow us! | Facebook | Twitter | Instagram
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.
Image: Eric Han
There’s Always Another House [Fresh Listings, Get ‘Em Hot]
It’s hard for me to believe. I’ve been working with buyers and sellers for nearly 15 years. Based on all those years, this I know for sure: There is always another house. If you missed out on a listing, it’s best to lick your paws and let it go. When you’re ready, dust off and get back in the game.
Yes, losing a bidding war can be painful. Sometimes another buyer, with greater financial resources (or far less prudence) wants it more than you do. Meanwhile, “winning” only to get cold feet a few days later and bail out is not winning at all. It’s damaging to the seller and to the buyer as well. Boulder is a very small community when it comes to real estate and the vast majority of deals are done by a handful of agents. I’ve worked with these other top agents many times and let me tell you the second thing I know for sure: reputation matters. This is one of the reasons we have in-depth discussions of the pros/cons of houses, carefully vet offers, confirm intent, and only submit (or accept) serious, well written offers.
Ready to shop for houses?
It was actually tough to select properties this week. There were a lot of good choices that hit the Boulder real estate market. If you’re ready to jump in, here are the best.
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
A discussion of important sales to help you better understand market conditions.
6121 Songbird Cir | $2.08MM | More Details Sombrero Ranch is a small development of mostly higher-end homes built in the 1980s, located just east of Flatirons Golf Course. It’s situated in unincorporated Boulder County, which adds a variety of pros/cons (talk to your Realtor). This particular four bed, four bath was marketed as a “complete rebuild,” although I think they really meant refinished. It’s an attractive, traditional home with four bedrooms, four baths, three car garage and a touch under 5,000 SQFT. First listed for $2.18 last year, the seller brought it back to market this spring at $2.08. It sold at asking, cash. Take home lesson: It’s critical to know the real value of your property and agree on a marketing strategy with your agent before listing your home for sale. The only way to do that is with a deep market analysis, there is no substitute. At the higher-end of the market, listing periods tend to be longer, which is why it often pays to be more aggressive on pricing.
3120 14th St | $1.88MM | Eye Candy
A good example for what’s possible when you build atop a basic 50’s ~1,200 SQFT ranch. The developer popped the top and expanded the SQFT to more than 4X the original size, likely maxing the potential for the ~8,000 SQFT lot. Five bedrooms, five baths, indoor and outdoor entertaining spaces, and a two car garage rounded out the picture. The location is excellent, east of Broadway and just south of the Hawthorne Gardens. Click the link above for the eye candy photos, they’re worth it. Market note: The last time the house traded hands was October 2015 for $1.64. $240K of appreciation over a 30 month holding period. As my friend Rob C would say, “not bad given that you lived in the house during that time.” It’s also proof of the premium buyers are willing to pay for turn-key, updated homes.
Fresh Listings
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
Boulder
1600 Blue Sage | $4.0MM | More Details
Properties in premium locations, particularly those that back to open space or in close proximity to downtown, lose less value during downturns and appreciate better during the upside of the real estate cycle. A few years ago, I sold a similar property on an equivalent perch in Devil’s Thumb. Today, that purchase price looks cheap, but at the time, my c-suite client initially felt the +10% premium over similar homes (without the open space or views) was steep. It took some convincing (with lots of data), but eventually he agreed and pulled the trigger. This particular house has the same story. Materials and design currently reflect the mid 80’s vintage, but this is the type of property that will benefit from remodeling with modern materials and techniques to maximize views and create a seamless transition between indoor and outdoor living areas. It also happens to be in South Boulder, with the areas best schools and easy access to trail heads.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
725 7th St | $4.0MM | More Details
Chautauqua adds tremendous value to the immediate adjacent neighborhood. From cultural events to concerts, to trails and nature tours, it’s one of the reasons (of many) that people live here. My first home in Boulder was just down the street and to this day, I miss the ease of hitting Boulder’s most iconic trails for a morning run. This particular five bedroom, five bath home is generously sized at 5,200 SQFT and features a nice layout and well designed outdoor living areas. It’s reserved and understated. Mid 2000’s construction. Due diligence: For as long as I can remember, parking has been a problem not just at Chautauqua but into the adjacent streets. The city has fully adopted a pilot program to mitigate the parking situation, but prudent buyers should verify the front yard experience on a busy weekend.
100 Valley View | $2.3MM |More Details
At +7,000 finished SQFT, this giant early 90’s mansion is for a buyer who (a) desires that sort of luxurious space, (b) wants killer views and a quick drive into Boulder, and (c) has a budget and the patience to undertake needed updates to modernize the interior. The views are jaw dropping, for sure, but the interior begs for a substantial refresh. Lots of bedrooms and bathrooms, for your extended family and other guests. Enough space to be by yourself and avoid them, too. Worth a look. Due diligence: When we represent buyers, our checklist for mountain property begins with water, septic, fire mitigation, and winter access. Property orientation is also critical. That’s just the starting point.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
1435 Upland Ave | $2.2MM | More Details
On the market only two days, and this five bedroom, five bath is already under contract. Why did a buyer snap it up so fast? The lot is worth 50% of the asking price alone. It’s a full half acre and has critical north/south orientation. Due diligence: This property is right in the middle of the 100 year flood, which restricts future permits for substantial modification or substantial improvements. Buyers should make sure they understand those technical terms and verify mitigation for future events. They should also check that damage from the ’13 flood event was professionally repaired. Talk to you agent.
830 Grant Pl | $1.5MM | More Details
I’ve got a soft spot for this location. With a short (and fast!) bike ride, you’re right downtown. Head uphill and Chautauqua beckons. The streets are lined with mature shade trees and many of the homes retain their historic charm. You’ll also find decades of capital reinvestment by homeowners. The main level of this cozy three bedroom, four bath features vaulted ceilings and a galley kitchen. The lower level has remodeled baths and functional living spaces. Due diligence: With a pre-war construction date and a tiny lot, what you see is almost certainly what you get. The one car garage could be a challenge for gear heads. If your agent isn’t familiar with compatible development, solar access, green building, and other constraints – find one who can better represent you.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
737 Pearl St |$1.35MM |More Details
Last on the market in 2013, this late 70’s stick frame town home is in an exceptional location on West Pearl. Some updates and a reasonable HOA. Four bedrooms, three baths, and carport parking. Due diligence: Associations are the bane and blessing, with shared costs (and rules). Pet restrictions and regs against short-term rentals are increasingly common. Special assessments and liability is also shared. Do not waive the association review to win the bidding war. You can always Uber to downtown.
5017 5th St | $925K | More Details
A ~3,000 SQFT town home in Dakota Ridge. High quality open space is practically at your front door. It has three bedrooms, five baths, and a two car attached garage. Built in the early 2000’s, fronts on the park, classic row home style. Market note: The North Boulder Subcommunity plan is gaining steam and the Nobo Art District is a likely possibility. The strip club is going away soon. There are plenty of restaurants but no major grocery store nearby.
To schedule a private showing, which includes a discussion of market conditions, valuation, negotiation strategy, and due diligence, call Osman at 303.746.6896.
547 Utica Ave | $850 | More Details A clean three bedroom, two bath, mid 80’s town home. The location is west of Broadway, near Wonderland Lake Open Space. Interior needs updating. A good option for downsizing Boulderites. Lucky’s is your nearest grocery option, which includes a couple of restaurants and a bakery. Market note: The shortage of adult (i.e. non student) attached dwellings in Boulder is currently being filled by S’park and the Peloton, but the wave of Boomers seeking lock and leave downsizing is just beginning. A key component of value for this property is the location, which is far superior to most new build options.
1529 Easy Rider | $615K | More Details
And it’s back! This modern beauty absolutely flew off the market when it was last available a year ago, likely due to it’s rare availability. The previous owner, did a bunch of attractive updates. Two bedrooms, one bath, and just under 1,000 SQFT. 1 car garage and an ecopass, included. Market note: Since it was built, our buyers have either consistently loved or hated the Holiday Neighborhood. There doesn’t seem to be an in between. New Urbanism isn’t for everyone but for those who want it, there really isn’t another choice in Boulder.
930 Neon Forest | $1.1 | More Details
Prospect is one of only a few locations I recommend to buyers considering Longmont. It’s filled with interesting, and visually attractive architecture, plus the neighborhood has several fun dining and drinking options. During the summer, the community comes to life with family friendly events like a food truck night. In the autumn, half of Longmont seems to show up for Halloween. This particular house is a beautiful execution of traditional design, but with many modern touches. Six bedrooom, six baths, a carriage house, and multiple living and entertaining spaces. Likely won’t be on the market for long. Pro-tip: Be sure your agent takes you to see new build options.
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
1131 Jefferson Ave |$912 | More Details
In a good spot in old town, this is a pre-war four bedroom, two bath Craftsman with a 2 car car-port. The interior has some updates including a gourmet kitchen. It was quickly snapped up when it was last on the market in 2013. Given the incredible shortage of inventory in Louisville (absorption is nearly 90%!), it likely won’t last long.
Lafayette
408 E Chester | $439K | More Details
Only a few blocks from the center of Old Town, with a variety of restaurants and shops. This three bedroom, two bath has had some updates since it was originally built in 1914. The lot size is reasonable , which is good because you’ll need the space add a garage. It’s affordable and filled with historic charm, but the fact the listing leads with the interior suggests it may need some work. Due diligence: If you have school age children, talk to your agent fracking protests that are currently underway for the oil/gas development planned for near the school.
—-
Want this blog via email? Sign up HERE.
Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.
Follow us! | Facebook | Twitter | Instagram
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.
Image: Eric Han
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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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