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 [...]
2040 Walnut Street [Notable Sale]
BOULDER NOTABLE SALE: 2040 Walnut Street | $2.4M Why Is It Notable?The Carver House, originally constructed in 1910. A classic example of a Foursquare, one of my favorite historic architectural styles, with one unusual detail - the combination of clapboard and brick siding. The location was a touch busy, due to the higher density of nearby buildings and students in this location, but the condition of the interior more than made up for that. It had been opened up (note the steel) and beautifully renovated by well known historic home specialist, Joel Smiley.Like this content? Check out Fresh Listings. It's our review of the most compelling new listings [...]
2550 Balsam Drive [Notable Sale]
BOULDER NOTABLE SALE: 2550 Balsam Drive | $2.4MWhy Is It Notable?The Panorama - Alpine - Balsam peninsula is a geological perch that overlooks the city of Boulder, with views both to the north and to the south, provided you're on the right side of the street. The non view, inner side of this micro-neighborhood is not so lucky, but valuations get dragged along for the ride never the less. We've been keeping an eye on the property since it first hit the market. It's a fine house, reasonably sized, and with the amenities that buyers require of a home in this price range and location.The trouble was being [...]
Colorado Gives Day | Growing Gardens
Guess what? Today is Colorado Gives Day. One of our favorite orgs in Boulder is raising funds to provide fresh food, plant starts, and seeds to those in need. In 2020 alone, Growing Gardens donated 18,000lbs of fresh produce to our local community. Please support this amazing organization. Donate HERE. Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005. Osman is the primary author of the House Einstein blog with over 1,200 [...]
2950 Broadway Street 2 [Notable Sale]
NOTABLE SALE: 2950 Broadway Street 2 | $599K Why Is It Notable?Units at Red Arrow rarely change hands. Rumor has it the design of the building was inspired by the work of Frank Lloyd Wright, but that could just be Realtor happy talk. The location is right on Broadway, subject to constant traffic noise, but at least it's a short distance to downtown. This one was on the market for just a couple of days before it was locked down by the buyer. It sold for full asking, cash. Due Diligence Built in the early 60's, and although the design is iconic, it's also quirky and inefficient. As [...]
A Few Thoughts on Thanksgiving
Silent gratitude isn't much use to anybody. -G.B. SternWhen I was a child, our family gathered together on Thanksgiving to be with others from our immigrant community. Often, it was the first and second generation immigrant children who had learned about the holiday from school and their friends. Thus, the tradition passed on, as it has for many immigrants to America. This Thanksgiving, things will be a little different. Our family won't be gathering together. We're doing our own thing. As the saying goes, absence makes the heart grow fonder. It's with more than a touch of sadness, but tremendous gratitude, that I reflect back on decades [...]
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