Client Tour | 1031 Portland Place #2
In Boulder, attractive listings often go very quickly. We produce videos, like the one below, for our buyers when they are unavailable for a showing. If our clients decide to pass on the home, we may share these videos publicly once the property has sold (or been withdrawn) from the market. 1031 Portland Place was acquired in February 2018 for $481,000 ($41,000 over asking). The owner listed it for sale in September 2019 for $539,000. After two price reductions and almost seven months on market, the home was withdrawn from the market. While it was available, we toured it on behalf [...]
Nobody Has a Crystal Ball [Analyze This]
The summer season is wrapping up. At the moment, the team at House Einstein is actively engaged in multiple real estate deals and focused on helping our clients successfully navigate the process to buy and sell property. With that said, this is traditionally the time of year when peak market activity wraps up and we can begin to devote a bit more time to analysis. As we've been riding a wave of market activity, I've been wondering about what lies ahead. Record low mortgage rates, an artificially delayed seasonal market (due to Covid), and ultra low inventory for detached single family [...]
Boulder’s Post Covid Real Estate World [Analyze This]
How's the Boulder real estate market and what does the future hold, post Covid? Let's talk about it. Boulder Market Update The shaded area in the chart above represents the 3 year average, per month. The yellow line is the most current data. The error bars represent 1 standard deviation. 169 new single family houses hit the market last month, in the City of Boulder - 26.1% above average and 23.4% higher, year over year. This is somewhat surprising after a fairly routine May and June performance. Despite the influx of new listings, total inventory is trending downward. Last month, [...]
Boulder Condo Sales SPIKE, Inventory STILL High [Analyze This]
The shaded area in the chart above represents the 3 year average, per month. The yellow line is the most current data. The error bars represent 1 standard deviation. After the Covid lock down lifted, new listings spiked in May and the usual peak in new listings was pushed back by a month. Last month, new listings were nearly 24.9% above the 3 year average but down 4.3 % year over year. Total inventory of town homes and condos in Boulder has been elevated for some time. In certain price ranges and locations, there is very little market activity. Meanwhile, [...]
Boulder and Denver Realtor Talk | Episode 1
A video discussion of real estate conditions in Boulder and Denver, brought to you by House Einstein. In this debut episode, we discuss the following: 1. The flight from urban areas in Denver to lower density neighborhoods on the Front Range. 2. Why the market ignores some listings. 3. The impact of trust on real estate deals. 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 [...]
How’s the Boulder Real Estate Market, Osman? [Analyze This]
The Boulder real estate market continues to rebound from the Covid-19 lock downs of two months ago. At House Einstein, we've been working with a record number of buyers and sellers. We appreciate your patience as new content has slowed. We're not apologizing. Clients come first. Our advice to our buyers and sellers is based on a detailed analysis of up to date real estate market conditions, similar to what you'll see below, but for their specific property, right down to the street level. Remember: intelligent real estate decisions are based on deep market knowledge. There are no short-cuts. Let's [...]
Secret Room? [Client Tour | 2935 13th Street]
Earlier this year, we did a remote tour for our clients of 2935 13th Street. Located in the Washington Village Cohousing Community. This home is a luxury three bedroom, four bath with about 3,500 F. SQFT. As the video below shows, the home had a number of unique and interesting features, including an unusual secret room. Originally listed at $1.75M, 2935 13th Street was available for about three weeks and sold for $1.71M in April. Note: we produce remote video tours for clients who can't attend showings in person, due to schedule or traveling distance, and are afraid of missing an opportunity. [...]
Bidding War Breakdown [Analyze This]
Phew! The second quarter started like a lamb and ended like a lion. Did every listing get a bidding war? No. Not even close. Check out the video below for a detailed analysis of sales activity in Boulder during and after the Covid lockdown, including a close look at the premiums buyers paid during the quarter. 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 [...]
Boulder vs. Denver Condo Market [Analyze This]
How have the Boulder and Denver condo markets been responding to the Covid epidemic? About as you'd expect. Note: If you've been tracking our socials (FB, Twitter, Instagram), you've seen the following charts. The graph above shows inventory for condos and town homes in Boulder. The yellow line is the most recent data, for the last twelve months (LTM). The blue shaded area is the average for the preceding three years, per month. As you can see, inventory in Boulder has been above average for the entirety of the past twelve months. Now let's look at Denver. Like Boulder, inventory [...]
Are Boulder Sellers Capitulating? Guess Again. [Analyze This]
The Boulder real estate market has been doing some very interesting things. On one end of the market, bidding wars are breaking out for homes. Anecdotally, we're even seeing buyers from Denver jumping into these bidding wars as they seek to escape lock downs in dense cities like Louisville. On the other end of the market, there is a growing pile-up of luxury homes that are sitting without takers. The chart above is a snapshot of the market on May 26, 2020. It shows inventory under contract, by price range, for single family homes in Boulder (excluding Gunbarrel). Notice how [...]
Buyers, Start Your Engines
And... we're back. Governor Polis's Safer at Home order will once again allow in-person real estate showings in Colorado, effective May 1st. We anticipate a flood of new listings to hit the Boulder real estate market between now and next week. Accordingly, 4894 Curie Court is back on the market. For buyers seeking house-like functionality, a great location, and lock and leave lifestyle - it's a great choice. House Einstein's showing protocol: 1. Showings require approval by the listing agent. No automatic approvals. No "go and show." 2. Only prospective buyers who are ready, willing, and able will be approved. [...]
What, Me Worry? [Boulder Fresh Listings]
Believe it or not, new listings are still coming on the market in Boulder. Who are these intrepid buyers and sellers? The game changes and we're changing with it. Almost 80 listings hit the market in Boulder County last week, some of which are refreshed listings. 13 of these listings are already under contract. Let's take a look at the best ones. Sign up for the content 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 [...]
No Showings Until Further Notice? [Latest update from CAR]
Here's an update on what's happening with real estate and Coronavirus shut-downs in Colorado. 1. Appraisals and closings are critical services. 2. Home inspections and final walk-throughs are allowed, once there is a contract in place. 3. In-person showings and open houses are not essential services, these activities violate public health orders. 4. Activities that encourage non-essential travel or asking residents to leave their homes for showings increases public exposure. Is there a work-around? How long will this continue? If you're thinking about buying or selling a home in Colorado, seek competent advice from your professional Realtor. Osman Parvez is the [...]
Is Boulder Real Estate Headed for a Fall? [Analyze This]
Believe it or not, Governor Polis declared a state of emergency in Colorado almost a month ago. Should I still wait to list my home for sale? Will there be buying opportunities ahead? These are the types of questions we are receiving from our clients every day. Unlike the stock market, the real estate market tends to react slowly to changing conditions. This inefficiency creates opportunity, for buyers who understand the market and have the patience to wait, or for sellers who see what's coming and want to get ahead of the trend. Either way, it's important to have a [...]
Is it Really Open Space? Guess Again [Notable Sales]
"Look at that beautiful open space" - your Realtor For today's Notable Sale, let's take a look at 455 Erie Drive. 455 Erie Drive | $1.15M We saw this six bedroom, four bath, two-story home in Frasier Meadows as soon as it hit the market. Featuring about 3,800 F. SQFT, it sits on a large lot, and with some landscaping work, has a potential view corridor to the Flatirons. Although the home had some weird features (tiny Rapunzel balconies off each bedroom, for example), it was painfully dated and hadn't been updated in decades. A close look revealed it had [...]
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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.
