The Calm Before the Storm [Analyze This]
Let's talk about the real estate market. I just wrapped up two days of obsessive data crunching on market conditions. My analysis paints a picture of a market gone wild in response to rapidly changing economic and social conditions. I've put together dozens of charts, but rather than inundate you, I'm going to share just one. You're looking at inventory levels for single family, detached homes in Boulder, Boulder County, and Denver. It's based on the latest market data (through the end of October) and shows inventory levels relative to the 3 year average. Inventory last month was 40% below average (red line) [...]
4650 Holiday Drive 104 [Notable Sale]
4650 Holiday Drive 104 | $574KWhy Is It Notable?I've loved the Holiday Neighborhood since it was first developed. The intention behind it was to build a low-rise, mixed-use, community that leveraged nearby transit. It was also built with an eye towards modern design and many nearby properties include live-work spaces. 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 | SubscribeFast forward fifteen years and the neighborhood has held up very well. Although the retail mix is still improving, part of that is due to the pace of [...]
For Sale, Friendly Occupant Included [ Fresh Listings, Get ‘Em Hot]
Hi Folks. I just finished writing our latest edition of Fresh Listings. It includes the very curious tale of what once seemed to be a great investment in a tony Denver neighborhood, but now appears to a landlord's nightmare. Why? Well, let's just say you're not just buying the house. You're buying a big problem: the home has occupants who seemed to have stopped paying rent and, in case you missed it, Colorado has a statewide eviction moratorium. After months of struggle, the owner has had enough. They want out and they want out, fast. It's being offered at auction, with a starting price [...]
7783 Essex Place [Notable Sale]
7783 Essex Place | $635KWhy Is It Notable?If you're shopping for an entry-level house in Boulder, first time buyers should consider Gunbarrel. In this neighborhood, mid 70's era homes like this one sell for about the same value as a much smaller 1950's ranch in Boulder proper. If you choose a house in the Heatherwood development instead of Martin Acres, for example, you'll get a newer home, double the size, and a more spacious yard for about the same money. Of course, you also are much further from restaurants, shopping, and (in normal times) work. There are tradeoffs to everything. This tri-level is a [...]
1235 Tamarack Avenue [Notable Sale]
1235 Tamarack Avenue | $1.54MA stunning, modern home with gorgeous design and features. Too bad it's also in a location that is strongly compromised, with near constant exposure to traffic from Broadway. Our clients loved it, but we advised them to not put in an offer due to this location issue alone.Remember: You can change virtually anything about a home but its location. Screening may help reduce the exposure to Broadway, but it will likely never go away. Even if you're ok with the noise, you'll potentially suffer lower appreciation and a reduced buyer pool when it comes time to sell the home. With all of that said, [...]
737 Pearl Street [Notable Sale]
737 Pearl Street | $1.48MWhy Is It Notable?West Pearl is one of Boulder's top locations. This unit, built in the late 1970's, is a five bedroom, three bath townhome located in the Pearl Street Townhouses. It has a Japanese garden feel to it with lush landscaping. The owner, a fellow Boulder realtor, acquired the property in 2018 for $1.3M. Other than paint, it doesn't appear that much was done during their ownership tenure. They listed it for sale at a wishful thinking price of $1.65M at the end of April. After pulling it off for a brief period, it was brought back to market, and [...]
342 Hollyberry Lane [Notable Sale]
342 Hollyberry Lane | $2.04MThis made the cut for Fresh Listings back in August when it hit the market. Listed for a little over $2M, it was on the market for 40 days without a price reduction. 342 Hollyberry Lane sold for 4.1% below the asking price, with no disclosed concessions.It's a tasteful home, with updates and an interior design that is very inviting. Benchmark: It did not have an amazing view and is a good comparison point for similar upper Table Mesa properties, adjusted for the very attractive interior design. Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New [...]
November and December | Anything Goes?
Welcome to November in Boulder real estate. The last two months of the year are typically slow . If you're shopping for a home, on average, you can expect slightly more than 50 new houses to hit the market this month and about half that in December (pink circle).The condo and town home market follows the same pattern (chart above), however note the elevated level of new listings hitting the market on the right side of the chart. As discussed in our recent analysis of market conditions, it looks like this influx of attached dwelling inventory might be a short-term opportunity [...]
The Joe Rogan Effect [Analyze This]
What does Joe Rogan have to do with Boulder real estate? Put on your snorkel. It's time for another dive into market data for Boulder and Denver real estate. An important note about the information presented below. Some of the charts show monthly data expressed as a percentage from the average. So for example, when you see +27%, it means 27% above the average for that month. It does not mean 27% of the average. Capiche?SUPPLYWhen faced with uncertainty, people take fewer risks. It's just human nature. Since Covid-19 hit, potential sellers of single family houses have bunkered down. Beginning this spring, inventory of homes [...]
4587 Apple Way [Notable Sale]
4587 Apple Way | $1.6MWhy Is It Notable?Have you heard of the Orange Orchard neighborhood? It's a bit of a secret.Orange Orchard is located just north of Jay Road, west of 47th street. It's outside the city limits in unincorporated Boulder County and directly adjacent to a mixture of agricultural land and open space. In my opinion, this is an absolute gem of a neighborhood. Even people who have lived in Boulder for decades don't know much about it, but those in the know are often willing to wait. Why is this location so desirable? Open space access is fantastic, lot sizes are generous, and the prices are [...]
415 Drake Street [Notable Sale]
415 Drake Street | $2.65MAsking Price: $1,800,000 Final Sale Price: $2,650,562 We knew that the asking price of this home seemed far too low for the typical selling price of a functional, well maintained Haertling. It clearly went into a bidding war because it sold for approximately $851K above asking after going under contract in 4 days.Why is it Notable?Hidden by a tall fence and a steep street, on the corner of Stanford and Drake, you’ll find the Caldwell House. Built by Charles Haertling in the middle of the 60’s, it features four bedrooms, five baths, and a generous 4,000 SQFT. Unlike most Haertlings, the kitchen on [...]
289 Pearl Street [Notable Sale]
289 Pearl Street | $1.7MWhy is it Notable?I wrote about this four bedroom, four bath listing in an earlier edition of Fresh Listings. Back then, it hit the market with an asking price of $1.9M. It’s a moderate sized, newer two-story on the West End, with design elements intended to look historic. It was available for about three months, and a buyer locked it down for a substantial discount. It sold for $1.7M on August 31st, or about 10.5% below the asking price. Assuming that there were no issues from past flooding, this is a bargain for the location. Sometimes it pays to wait and [...]
480 Lipan Way [Notable Sale]
480 Lipan Way | $1.32MWhy is it Notable?Besides the fact that we helped our clients find this home, this one checked all the right boxes: it’s in a quiet, family-friendly neighborhood with spacious lots. It’s close to all the things people love about Boulder, and few of the things they don’t. Most importantly, it was near our clients' grandchildren. 480 Lipan is a generously sized, ranch-style home, owned by one family for many decades. The adult children of the last owners nicely updated it in preparation for sale, which our clients deeply appreciated. It sold for a 5% discount to the last asking price on September 3rd. Due [...]
855 13th Street [Notable Sale]
855 13th Street | $1.57MWhy is it Notable?It was only a couple of months ago that we told you to check out the Thornton House (in our Fresh Listings Newsletter, subscribe below). This style of home is exceptionally rare, and for some reason, the seller placed it back on market after less than a year of ownership. Why You Should See It Built in the Modernistic or Art Moderne style, it is defined by asymmetrical composition, with horizontal and smooth surfaces, casement windows, a flat hood, and flat garage roof. It was also built by locally renowned architect Glen Wood Huntington whose son later designed the Boulder Bandshell, [...]
1489 Sunset Boulevard [Notable Sale]
1489 Sunset Blvd | $7M Why is it Notable?A plus-size luxury home, on a 1.3 acre lot located on the northwest corner of Sunset Hill. It's nestled in an enclave of other exclusive, high-end homes, with stellar views and a short stroll to downtown restaurants and shops. The home was constructed in 2001. It features a whopping seven bedrooms, seven baths, exceptional finishes, indoor and outdoor entertaining areas, and of course - the uber-premium location. As typical for high-end property, it took a while to find the right buyer. First listed in May of 2019, the home was on the market for nearly a year before it [...]
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Testimonials
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.
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.
