Boulder Market Update – April 1, 2020 [Analyze This]
Updates: 1. I know it's April Fools Day, but I don't have any jokes. If you're looking for a laugh, check out Nick Heath's #lifecommentary and Pub Quizes. He is hilarious. 2. You'll find a preliminary Boulder real estate market update in this Twitter thread. In short, closings were up for condos and town homes in March, down for stand alone houses. As we move into April, about 30% of inventory in Boulder is under contract.There were a bunch of broken deals (i.e. back on market) during the last two weeks of March, but it's unclear if it was more than [...]
Are There STILL Bidding Wars? [Notable Sales]
Surprise! Showings in Boulder have fallen to a trickle, but confident buyers are moving forward. As we predicted in our video analysis last week, this seems to be happening at lower price points where demand far outstrips supply of available homes. We anticipate that as the "new normal" continues to develop, the market for homes at higher price points will also start to revitalize. In the interim, there are deals out there. Remember: Intelligent real estate decisions are based on deep market knowledge. There is no substitute. Let's take a look at some recent closings. Sold Listings of Note 3500 [...]
Bungalow or Pied-à-terre? Covidopportunities [Fresh Listings, Get ‘Em Hot]
As everyone knows, the Chinese word for Crisis is composed of two words; danger and opportunity. This week, we talk about some potential opportunities currently on the Boulder real estate market. If you're a subscriber, check your inbox for our review of the best listings to hit the Boulder real estate market, this week. Why subscribe? Because we can't tell you what we really think about listings unless we do so privately. Learn more and subscribe, HERE. This week, I reviewed the following nine properties in detail: 1755 Deer Valley Rd 842 16th Street 2007 Columbine Ave 4128 Clifton Court [...]
Boulder Market Update – March 23, 2020 [Analyze This]
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 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE. Fresh Listings | Our review of the most compelling new listings to hit the [...]
Now, What Should I Do? [Coronavirus: Common Questions and What’s Next]
One word describes the prevailing mood: uncertainty. At times like these, it can be difficult to make a major life decision. And make no mistake, buying or selling real estate is a major life decision. Note: This post is specific to real estate transactions. It's based on actual questions we've received from our buyers and sellers in Boulder, Colorado. If you found your way to this post looking for general Coronavirus information, you're in the wrong place. Should I Break-Up the Deal? From an investment perspective, it largely depends on the price point/location of your home and your planned holding period. Your [...]
The Coronavirus in Boulder [We’re in this Together]
Clients, Colleagues, and Friends, As this virus has made clear, we're all in this together. No one is immune. Boulder schools are closed, CU is closed, and soon, it's possible that some U.S. cities will be on lock down. There is a lot of fear and anxiety out there. Our position is that the health of staff, colleagues, and clients come before real estate transactions. We will act accordingly to protect the health and well being of our community. This means some changes to our business practices. At House Einstein, we have a bunch of deals under contract right now. [...]
Boulder Start-Ups, Rogers Farm, Coronavirus Mortgages, and Balfour Senior Living [Weekend Reading]
It's hard sifting through all of the noise, especially with the spring season upon us. We've narrowed down a few quick reads to help you make a smarter real estate decision: 1. Four Reasons Why Boulder is the New Innovation Hub What do you think attracts start-ups to Boulder? 2. New Model Grand Opening at Rogers Farm in Superior, Colorado "Low-maintenance, energy-efficient homes are for all ages – millennials, retirees and families with children." 3. Coronavirus and Mortgage Rates… To Lock or Not? That is the Question! "To lock or not to lock, that is the buyer’s choice. However, buyers need to understand [...]
Ready to Bug Out? [Fresh Listings, Prepper Edition]
In the spirit of the times, we'd thought it would be fun to highlight current Boulder real estate listings that might support your newfound interest in the Prepper lifestyle. Remember: Just because we think they're worth a look, doesn't mean they are worth buying and defending - especially at the asking price. Signup below for the latest Fresh Listings and access to the archive. Fresh Listings Our review of the most compelling new listings to hit the Boulder real estate market.| Subscribe Latest Properties Reviewed 8003 N 63rd Street | $4.0 M 4039 Ogallala Rd | $3.9 M 6600 S Boulder [...]
The Impact of the Coronavirus on Boulder Real Estate [Does Anyone Know How To Fly a Plane?]
In the last few weeks, I've had many private conversations with clients about the impact of the Coronavirus. After yesterday's +1,000 point drop in DJIA, it's time to talk about the potential impact, publicly. 1. As with any market forecast, take it with a grain of salt. Although I have professional training and experience in financial analysis, and some understanding of basic biology, nobody has a crystal ball. There are many elements of this situation. It's also unfolding very quickly, which makes it challenging to make predictions. 2. Early data shows Covid19 may have an R0 of +3 and a CFR of ~2%. [...]
What’s a Square Foot Worth in Downtown Boulder? | 337 Arapahoe #201 [Notable Sales]
337 Arapahoe Ave #201 | $1.15 M Built in the 80's, the Shadow Creek development is nestled against Boulder Creek on the west side of downtown Boulder. The buildings have stood the test of time quite well, with a few obvious signs of deferred maintenance. The primary value driver is the location; it's an easy walk to downtown shops and restaurants, the park, or the creek path. The City Club is just down the street and you can be sipping cocktails with friends on Corrida's spectacular rooftop in minutes. While nearby Eben G. Fine Park is popular with transients and the [...]
She Loves Me, She Loves Me Not | 531 Maxwell Avenue [Notable Sales]
Sometimes, people fall in love only to discover that their relationship isn't what they thought it would be. Perhaps their partner didn't have potential. Maybe they were simply too high maintenance. Either way, getting out comes at a price. Happy Valentines Day, Boulder! No, we're not talking about your old girlfriend or boyfriend. We're talking about Boulder real estate. In this recent sale, a mid century home in Boulder has sold multiple times in recent years. Buyer after buyer fell in love, only to dump their partner a short time later. What happened? 531 Maxwell Ave| $1.53M | Pics and Details It's a tasteful [...]
The Best Time To Sell Your House? [Analyze This]
"Hey Osman, when should we list our home for sale?" It's one of the most common questions we get from new clients. Short answer: late winter. This maximizes limited supply and an increasing wave of buyers entering the market. "Show me the data," you say? Of course. As our clients know, we don't make market predictions without evidence to support our conclusions. Fact based decision making is just how we roll. The chart above shows the absorption rate for the City of Boulder. The red line is for stand alone, single family houses. The white line is for town homes [...]
Cozy Cabins and Tuscan Villas [Fresh Listings, Get ‘Em Hot]
The Boulder real estate market is starting to wake from its winter slumber. As of this writing, there are about 1,100 listings on the market in Boulder County. 46.5% are under contract. Within the City of Boulder, 441 listings are on the market and about 40% are under contract. Nearly 130 listings hit the Boulder market last week. Of these, 28% were refreshed old listings, mostly at the higher end. 23.6% are now under contract. Removing the bad locations, absurdly overpriced, and refreshed listings - we found six listings worth your attention. Our Fresh Listings this week include everything from [...]
The Crocs Condo Finds a Buyer [Notable Sales]
After nearly four years of public and private marketing, a luxury condo in one of Boulder's most exclusive buildings has finally sold. No problem, right? Boulder real estate only goes up in value. That's four years of gains. Guess again. The Property 1077 Canyon Blvd #302 is on the third floor in the southwest corner of the Arete. It has three bedrooms, three baths, and about 2,500 F. SQFT. Key selling points include its generous size, open layout, Flatiron views, and decks that overlook Boulder's Civic Area. With its central downtown Boulder location, it's a perfect space for entertaining and is an excellent [...]
Land Swap: CU South for CU North?
At last night's Council meeting, staff revealed they are in discussions with CU for a land swap. This citizen inspired idea means that instead of investing tens of millions to re-engineer the flood plain, CU will trade mostly swamp land for nice, dry acreage (with a pretty view) in the Planning Reserve. Of course, CU South is not just swamp land. It's de facto open space, used by dozens of people every day to run, walk, and exercise their dogs. The wetland areas are also home to abundant wildlife. It's a scenic part of Boulder, although not on most trail [...]
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Locations, Due Diligence, Negotiation
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.
