Chautauqua Estates, Ranches in Open Space, and Bargains in Niwot [Get ‘Em Hot]
A holiday week is not usually the best time to list your property, but a few motivated Boulder sellers brought their homes to market anyway. Put down that turkey sandwich, it's time to snack on some real estate. As usual, we've included a handful of notable sales to keep you up to speed on market conditions. Are you ready? Let's dig in. Remember: Just because we think a property is worth seeing doesn't mean it's worth buying. To schedule a private showing, which includes a frank discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. Sold Listings of Note [...]
Boulder House Inventory UP 20%, Condos DOWN 33% [Analyze This]
by Osman Parvez ---- Time for a quick market update. Here's our latest inventory analysis for Boulder real estate markets compared to last year. Total inventory of attached dwellings (AD) in the City of Boulder is 33% lower. Boulder and Superior are both showing substantially higher inventory, while percentage under contract is mixed. As Boulder County's largest real estate market, Longmont is the big story. It's a bastion of affordability and an important barometer of market conditions. In Longmont, inventory is 7% below last year while the percentage under contract has climbed markedly. Data for smaller markets like Louisville [...]
Inventory Flood Kicks Off 2016 [Fresh Listings, Get ‘Em HOT]
You wanted more houses available for sale? Here it comes. After months of declining inventory, we’re finally starting to see a higher volume of fresh listings. This week... New Listings: 52 Under Contract: 5 Refreshed: 9 Overpriced: 5 Bad Location or Otherwise Undesirable: 10 Spec: 1 Worth Seeing: 22 To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Boulder 2036 Mesa Drive | $1,300,000 | More Details Last traded hands in 2013 for $938K. I love this location for its proximity to downtown Boulder but if you’re considering writing an offer, [...]
Development Map Update | Food Truck Parks and Contentious Affordable Housing
by Osman Parvez ---- I woke up early expecting to shovel this morning. Sadly, there was no white stuff on the ground. Here's a Development Map update instead. Added 11/17/15 BHP's new affordable housing development - at 4525 Palo Parkway (44 tri-plexes, townhouses and apartment units in nine buildings. Units will consist of 13 one-bedroom units, 14 two-bedroom units and 17 three-bedroom units). Tempers are boiling over and there are LOTS of negative comments from the neighbors on this project. Expect the planning board meeting on 11/19 to be contentious. Read the public comments in the 600+ page board packet. The [...]
Is This Boulder’s Future?
by Osman Parvez ---- A client sent me this video about what's happening in the San Francisco Bay Area housing market. It's an eye opener. Is this Boulder's future? Let's hope not. Million Dollar Shack: Trapped in Silicon Valley's Housing Bubble ---- Want to get blog updates via email? Click HERE. Ready to buy or sell? Schedule an appointment or call 303.746.6896. You can also like our Facebook page or follow us on Twitter.As always, your referrals are deeply appreciated. -- The ideas and strategies described in this blog are the opinion of [...]
Your VOTE is important! NOW is the Time.
Hey Boulder! Don't forget to vote. Boulder's future is on the line. Ballots are due tomorrow, November 3rd. It's too late to mail, you must drop it off. Polling locations are HERE. Bill Moyers Essay: Your Vote is Important -- Here's Why (2008) from BillMoyers.com on Vimeo.
Boulder Sales Volume Up Almost 20% [Analyze This]
by Osman Parvez ---- 560 residential units traded hands last month in Boulder County, a 19% increase from the previous year. Within the city of Boulder, sales volume was up 15%. Longmont saw a year over year increase of 34%. As smaller cities, Superior, Louisville, and Lafayette are typically more erratic on a month to month basis. September was no exception, with sales dropping 21% in Lafayette but rising 78% in Louisville. Superior was a wash. Sales volume is a good proxy for demand. Be sure to compare it to our analysis of inventory conditions for the bigger picture. [...]
Property Taxes, Oy Veh!
by Osman Parvez ---- 2015 Tax Assessments are in the mail. Get ready for an eye popping increase to your property value and tax bill. Welcome to the dark side of appreciation. What will Boulder do with all the extra money flowing into the coffers? Spend it of course. Stay tuned! If you're trying to appeal, you have until June 1st. Here's a link to the appeal form. Be sure you watch our video below before you appeal. Good luck! ---- As always, your referrals are deeply appreciated. -- The ideas and strategies described in this blog are the opinion of [...]
Dirty Data [Visualize This]
by Osman Parvez This post is mostly for the Realtors in the audience but it should also concern those who track real estate markets in Boulder and beyond. Back in January, I wrote an open letter to BARA concerning an data error in their statistical analysis. The chart below is a visualization of a problem with dirty data. IRES and Metrolist (METRO) provide MLS services for our region. Throughout Boulder County, IRES dominates the market (blue). In some locations, Broomfield most notably, Metrolist has a significant market share (grey). The data provided by the Boulder Realtor Association, [...]
Reg Z – Impact in Boulder?
by Osman Parvez On January 10, the new Qualified Mortgage Rule went into effect. Created under Dodd-Frank, the rule tightened lending standards in exchange for increasing lender protection from liability. In theory, this should allow easier securitizations - important as the Fed kills off its quantitative easing programs. On the ground here in Boulder, overall sales volume dropped 13.7% since the rule went into effect (chart) but sales of $1MM+ properties has continued at the same pace as last year. From a Loan Engine Keeps Humming (WSJ): Many in the mortgage industry worried that the "qualified mortgage [...]
Unstoppable Demographics Drive Housing Demand in Colorado
by Osman Parvez Cranes dot the city and construction vehicles are everywhere in Boulder these days. What's going on? Colorado is experiencing a development boom. Here's why. The population of Colorado has been growing steadily, even during economic recessions. The chart above shows a combination of historic census estimates and the latest projections from the State Demography Office. During the next ten years, Colorado is expected to add nearly a million people - about 20% more than today. Here in Boulder County, population growth is more modest. The population is expected to grow a [...]
Lessons from The Flood [Insurance]
by Osman Parvez Last September, many Boulder residents found out firsthand whether they had adequate flood insurance coverage. Debris still fills local drainages and experts are concerned with flood risk during the upcoming spring thaw. Are you adequately covered? What should you know about flood insurance? Join us this Thursday at the Boulder Real Estate Meetup. Catherine March from Affordable American Insurance will be joining us to share Lessons from the Flood. We'll also have Brandon Apple, Senior Project Manager from Mold Inspection Sciences presenting his tips for dealing with mold. I'll be hosting a discussion about [...]
Pssst… Shop My Buyers and Sellers
by Osman Parvez Thinking about selling your property? Before you call a Realtor, consider shopping my active buyers and sellers. If there's a match, I can save you thousands on commissions. If any of the following is of interest, call me directly at 303.746.6896. Click HERE if you can't see the document above. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at 303.746.6896.
Don’t Be a Victim – Scam Warning
by Osman Parvez Just a heads up. Scam artists always follow natural disasters. In the coming days and weeks, there will be rush to repair and put right what flood victims have lost. Be wary and be wise of con artists posing as contractors, particularly those who stop by in front of your house or who are from out of the area. Verify that they represent a legitimate business and be cautious about providing payment up front for services yet to be rendered. Common scams involve home repair, debris removal, insurance fraud, and door to [...]
The Great Flood – Dealing with Insurance
by Osman Parvez Like many of my Boulder friends and neighbors, I've been dealing with the aftermath of the flood. Here's a few bits of advice: Handling Insurance Document everything. Take extensive photographs (and video) of the damage, including damage to your personal possessions. What caused the damage may determine whether your insurance will provide coverage. This includes whether it was caused by failing sewer systems (usually covered up to $10,000) or rising flood waters (usually not covered without purchasing additional coverage). Remember that part of the job of an agent and/or adjuster is [...]
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Testimonials
We can highly recommend Sophie. Her attention to detail and communication skills are great. Our home was in area that most realtors are not familiar with, but Sophie took extra time to get to know the neighborhood in order to give us quality service. She also brought in a professional photographer to make our home look its best. Even though the listing was in winter, the house sold quickly. With Sophie’s business and people skills, we have no doubt she will be a top realtor in the area.
Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
