Awesome Autumn Properties [Fresh Listings, Get ‘Em Hot]
Cooler, crispy weather is upon us and the market is beginning to slow as we enter into the 4th quarter. I'm taking over while Osman is away in the mountains, enjoying his wedding celebration! Over 80 listings hit the market in Boulder County this week. As always, I removed those that were overpriced, refreshed on the MLS, and in poor locations. Below you'll find a mix of historic beauties and turn-key properties, with an option for every type of buyer. Eager to set foot into these lovely new listings? Give me a call and let's connect! Remember: Worth seeing does [...]
Market Update: Impending Doom or a Soft Landing? [Analyze This]
--- by Osman Parvez As grandma used to say, an Insta tells a thousand words (follow us!). ---- 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 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 [...]
Cohousing – What Is It and How Does It Impact You?
by Sophie Kloor ---- I was born right outside Boulder. Most people don’t know that I was raised in an unconventional way. I grew up at Nyland Cohousing Community in Lafayette, Colorado. The majority of buyers and sellers alike have little to no idea about Cohousing, and how it can impact real estate options. What is Cohousing? Cohousing revolves around the concept of intentional community. Owners and renters live private lives in homes or apartments, while they simultaneously share common spaces such as open space, playgrounds, community gardens, sports areas, woodshops and more. These shared spaces traditionally include a “common [...]
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 [...]
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