3633 21st Street [Notable Sale]
BOULDER NOTABLE SALE: 3633 21st St | $4.5M Why Notable?We took our clients to see this home several times while it was on the market, but couldn't get our heads around the choppy layout, location, and deferred maintenance at the inflated list price. The home was substantive, and the location very private (flag lot), but also east of 19th Street with no real views. Deal Notes: The home was listed at $5.15M at the end of September, well after the peak of the seasonal cycle. After a couple of weeks on market, the seller cut the price to $4.95M. About a week after that, it [...]
601 Canyon Blvd Unit B [Notable Sale]
BOULDER NOTABLE SALE: 601 Canyon Blvd Unit B | $1.2MWhy Notable?We were quite surprised when we first saw this development underway. It's turned out to be an astounding investment play, although our initial theory of it being constructed as a rental was incorrect. We suspect the developer wishes they kept it in their portfolio. Unit B is one of four townhomes in a building constructed in 2013. It features two bedrooms, three baths, and a reasonable ~1,300 SQFT. Finishes have aged reasonably well, and the location is in close proximity to everything cool in Boulder. It's a very trendy lock-and-leave style property in the perfect location for accessing all of Boulder's [...]
What’s New at House Einstein – Dec 5, 2021
Note: The following was published as the introduction to the latest Fresh Listings Newsletter, a review of the most interesting new listings and notable sales in Boulder, Denver, and surrounding areas.What's New at House Einstein?We had four closings this past week, with deals in Denver, Westminster, and Boulder. After multiple offers, our listing on Chinook, the one with the two-story indoor waterfall, closed at nearly $375K over the list price. Credit for that goes to the seller for trusting our advice in how to prepare and market the home. I also want to thank the entire House Einstein team for their support throughout the process [...]
What’s Happening at House Einstein? [Business Update]
It's official. We're expanding House Einstein's footprint to Summit County. Mary Herre, one of the outstanding agents on our team, has started doing a lot of business in Summit. Going forward, Mary will act at our office's designated Realtor for that market. What does this mean? It means far better access to the newest listings to hit the market in Breck, Dillon, Frisco, and Silverthorne. She's also been working hard to establish relationships with builders and other Realtors in the market, which has given us great intel on new construction and other unlisted opportunities. We'll start adding notable sales and fresh Summit listings to the newsletter in [...]
So, Who Left Money on the Table? [Analyze This]
How much are buyers paying? The facts might surprise you. In our latest Fresh Listings newsletter, I analyzed the most recent sales in Boulder and Denver. The analysis is compelling. Median paid over asking, in deals where there was a perceived bidding war, exceeded 7%. Meanwhile, a surprising number of homes actually sold for less than list price. That's right, I'll say it again: A surprising number of homes sold for less than the list price last month. On the ground, we're seeing buyers continue to play herd ball and target some listings to the exclusion of others. It's creating quite a roller coaster marketplace. Meanwhile, [...]
How’s the Market, Osman? [Analyze This]
The latest data shows the Colorado real estate market continues at a heated pace, with the majority of house buyers in Boulder and Denver Counties paying a premium to the list price. From when I last analyzed the market, about a week ago, the median premium paid has increased in Denver by about 0.26% but is essentially unchanged in Boulder. The chart above shows the distribution of premiums, or discounts paid to the list price on the Y axis. The x axis is the final sale price. The time period is April 19 to April 27, or roughly the past week. The [...]
Hope and Renewal | Leading Market Indicators
As you might imagine, market activity took a brief pause last week before resuming. Things are not the same, and for many in our community, will never be the same. Healing takes compassion, reflection, and time. At House Einstein, we're weighing how to best support our community, which will likely come in the form of increased giving or direct service. As far as the real estate market goes, it's time to resume our work. We're still gathering complete data for March and the first quarter, which will almost certainly show a majority of homes selling for asking or more. We personally participated in several +$100K over asking bidding [...]
The 3 Day Rule, Bidding Wars, and the Cost of Cold Feet [Earnest Money and MLS Status]
Your Realtor's most critical job is to expertly negotiate on your behalf, as they intelligently and strategically structure a deal. In theory, experienced agents should have a good understanding of how to do so effectively. In practice, many do not, especially when it comes to how to align the contract with rules that govern our industry. Oh, there are a lot of rules. Here's one you probably don't know: The rules says that if your home is listed for sale on IRES or ReColorado (our dominant MLS's), an agent has three days to change the listing status from when a contract is executed. In practice, if [...]
239 Broken Fence Road [Notable Sale]
BOULDER NOTABLE SALE: 239 Broken Fence Road | $950K Why Is It Notable? Despite the not so attractive street name, this particular property is in a highly coveted neighborhood directly adjacent to the Betasso Preserve. It’s a patch of gorgeous open space which features hiking and mountain biking trails, with mostly easy rolling terrain, and stellar views. It’s also only about 15 minutes to Boulder proper.The house itself was painfully dated inside, complete with mauve 90’s era paint and finishes. It also had some oddities, like a non-working elevator, but the layout was solid and quite functional. The biggest reason our clients [...]
3142 5th Street [Notable Sale]
BOULDER NOTABLE SALE: 3142 5th Street | $2.9M Available for only a few days, this large five bedroom, five bath, two-story is located on the northwest side of Newlands. It was constructed in the late 90's, before Boulder's Compatible Development ordinance shut-down large construction on smaller lots. The three car garage is a nice bonus. For the most part, it looks like interior finishes haven't been touched since it was built, but their original choices were enduring. It still looks pretty good and likely cannot be duplicated today. Deal Notes Listed at $2.85M, it sold for $55K over the asking price in a cash deal. There were no [...]
2805 Broadway Street E [Notable Sale]
Notable Sale: 2805 Broadway Street E | $3.5M Why Is It Notable? Located on the former site of the much missed Integral Center, the Balsam is Boulder's most recently completed luxury condo development. The building features five units with prices that range from $2.5M to $3.5M, with top of the line finishes throughout. Unit E features three bedrooms, four baths, and about 3,200 SQFT. Like this content? Check out Fresh Listings. It's our review of the most compelling new listings to hit the Boulder and Denver real estate market | SubscribeDeal Notes All units at The Balsam are under contract, but sometimes it pays to put in a backup offer. This [...]
Bidding Wars Everywhere? Guess Again [Market Update]
Word on the street is that EVERY listing is getting a bidding war and homes are just flying off the market! Surely, you've heard? Well, not exactly. A small portion of listings are attracting multiple offers and seeing prices far exceed the list price. In Boulder, for example, there have been over 300 sales since the beginning of the year. 33% sold for more than asking, 16% sold for the asking price, and 51% actually sold for a discount. That's right. The majority of listings sold for a discount. These are the facts. [data updated 3/13/21]That's not to say that it's not a [...]
2940 19th Street [Notable Sale]
NOTABLE SALE: 2940 19th Street | $1.25M Why Is It Notable? 19th Street is a busy yellow line street, with a steady parade of traffic. This location is also central to downtown and 30th and Pearl. For people moving from larger cities, the traffic might be a non-factor, but it’s still something worth considering.2940 19th was listed at the end of December and quickly went under contract. Buyer #1 bailed after more than two weeks on market (which should be past inspection), and it was available for a few additional weeks before Buyer #2 locked it down. It sold for the full asking price, conventional mortgage, [...]
3625 Cloverleaf Drive [Notable Sale]
NOTABLE SALE: 3625 Cloverleaf Drive | $2.3M Why Is It Notable? Hard to call this a remodel, but from a permit perspective, it qualified. The interior and exterior were completely re-envisioned, and 1,122 SF were added to create a new master suite and living/dining area. Exterior work included new stucco, metal, stone siding, new windows, new doors, new front porch, and a new 2 car attached garage. Interior work included new finishes throughout. Honestly, it might be easier to write about what hasn't been redone. We toured this home in early December 2020. Our clients were very impressed by the natural light and overall design of the home. There were [...]
It’s Not Bragging, If You Can Back It Up [Analyze This]
As Muhammed Ali once said, "It's not bragging, if you can back it up." The chart above shows the performance of House Einstein's Fresh Listings, compared to newsletters from our industry peers. Subscribers open our newsletter at nearly 2X the industry average. Meanwhile, our click rate is even better - 7.6x higher than average. We're not getting these sorts of results by producing garbage, spam-filled content. Our goal is to help you make a smarter real estate decision. Fresh Listings are written with that goal very much in mind. Each week, we cover the most interesting new listings to hit the market and tell you why [...]
