Strategy by Price Range [Analyze This]
by Osman Parvez ---- For the last few days, I've been writing about inventory conditions in Boulder. It's time to wrap up the analysis. The following chart shows inventory of houses by price range in Boulder. It excludes attached dwellings like condos or town homes, multifamily property, and vacant lots. The source of data is both regional MLS systems, duplicates and other junk have been carefully removed. There is much more inventory between $500K and $900K, compared with price points between $900K and up to $2.0MM. Once again, it's a tale of two markets. The $2.0MM+ tranche is open ended, [...]
Boulder Inventory Stabilizes, Spring Outlook Positive [Analyze This]
by Osman Parvez ---- Continuing my inventory analysis from yesterday (see Boulder Entry Level Remains Strong, High End At Risk of Correction), the chart above shows total inventory (active, under contract, and pending) for the City of Boulder over the last three years. The blue line dots and trend line represent 2017. Orange represents 2016 and grey represents 2015. Inventory started off substantially higher at the beginning of this year. It is now in-line with the previous two years. Expect inventory to continue rising from now until mid summer. It typically peaks in June or July. Note: The source of [...]
Boulder Entry Level Remains Strong, High End At Risk of Correction [Analyze This]
by Osman Parvez ---- ---- So your Realtor say the market only goes up in Boulder? Guess again. At the most basic level, price is always a function of supply and demand. There is no escape from this law. Market strength depends on price range, location, property type, depth of market, and many other characteristics. As we approach the end of a real estate cycle, smart buyers focus on properties that are more likely to hold their value and sellers dump assets that are at risk of a price correction. Take a look at the chart below. It shows percentage [...]
Downtown, Uptown, Get the Low Down [Fresh Listings, Get ‘Em Hot]
When you're shopping for a home, time is always of the essence. Over 100 listings hit the real estate market in Boulder this week. I've analyzed them, culled the overpriced and bad locations, and identified the most compelling properties. The following are the very best homes on the market. A Note on Market Conditions Before you consider writing an offer, talk to your Realtor about market conditions. It varies dramatically by neighborhood, right down to the street level and property type. This year is not shaping up to be the same as last year. For example: while total inventory of houses [...]
Tantra Lake Holds Steady [Analyze This]
by Osman Parvez ---- With the future development of CU South in play, prices for condos at Tantra Lake have appeared to level out. A basic 2 bed, 2 bath closed this week for $425K. It was not remarkable, with average finishes and no views (listing detail). Will prices rise further this spring and summer? Talk to your real estate adviser. This is a good development to track for the impact of South Boulder CU campus. Here's the chart: note: Data for the chart above utilizes data from both IRES and REColorado. Comprehensive analysis requires a compilation of both [...]
Wow, that View! [Fresh Listings, Get ‘Em Hot]
Buying and selling Boulder real estate is tough. Every week, a flood of new listings hit the market. The truth is that when you look past the smoke and mirrors, past the refreshed old listings and the bad locations, only a handful of properties are worth consideration. Inventory remains very low. The best properties continue to attract multiple offers and end up in bidding wars. That's why serious buyers focus their attention on the most likely candidates. As we like to say in real estate, time is of the essence. Because we're nearing the end of a real [...]
Discount Turn Key Dream Homes, Lock and Leave Living [Fresh Listings, Get ‘Em Hot]
Nearly a hundred property listings hit the real estate market in Boulder County this week. Here are the ten best homes to check out this weekend. We've also included a few notable sales and one, just one, refreshed listing worth a second look. Ready to see some houses? Here we go! To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market trends, call Osman at 303.746.6896. Sold Listings of Note 7531 Spring Dr | $1,650,000 | More Details Listings in Spanish Hills are rare. It's a location that offers exceptional views, easy commuting, and [...]
Turn-Key Boulder Condos, Historic Charmers, and Pop Tops [Fresh Listings, Get ‘Em Hot]
A surprising number of old (previously withdrawn/expired) listings hit the Boulder area market this week. Maybe it's the time of year, but it might also be a signal that the market has started to slow. Bottom line: We're well into record territory for a bull market in real estate. Now is the time to be extra cautious with property selection. Some will hold their value far better than others. Don't overpay for marginal assets. Of course, there were plenty of real new listings too. I sifted through and removed the bad locations, the jaw droppingly overpriced, and the old ones [...]
Let’s Find Your Castle [Fresh Listings, Get ‘Em Hot]
by Osman Parvez ---- It might be mid-January, but spring is in the air when it comes to Boulder real estate. Inventory has begun to rise which means more selection. Most buyers haven’t entered the market yet and, for now, competition for the most desirable homes isn't scorching hot. If you’re serious about buying in 2017, now is a good time to begin your home search. We’ve culled the bad locations and the egregiously overpriced. We’ve also pulled out the old-refreshed listings. Here are the 10 best fresh listings on the market, plus a look at notable sales. Remember: to schedule [...]
The TOP Boulder Real Estate Sales of 2016 (Deal #1)
by Osman Parvez ---- Here we go. The highly anticipated top sale of the year. Nearly 5,000 homes traded hands in Boulder County during 2016. Over 400 exceeded prices of $1MM. Almost 100 exceeded $2MM. But only 19 sales were in the lofty $3MM+ category. In this series, we've focused on the most luxurious, over the top real estate that traded hands in Boulder last year, and this one tops them all. It's an estate worthy of magnates, an heirloom for future generations, a setting for a Gatsby party. Welcome to 1002 Mapleton Avenue. Sale price: $7.8MM. Looking for the rest of the series? [...]
The TOP Boulder Real Estate Sales of 2016 (Deal #2)
by Osman Parvez ---- Imagine living minutes from Boulder, surrounded by thousands of acres of protected open space. Neighbors, what neighbors? This epic 5 bedroom, 6 bath home features beautiful, unimpeded views of the Flatirons and back range but is still only a few minutes from downtown Niwot. It was built with contemporary finishes throughout and includes a carriage house, finished barn, an equipment barn and - of course - stables for your purebreds. Situated on 35 acres of agricultural land backing up to 2,000+ of acres of protected open space. 8175 N. 73rd Street is the #2 Top Real Estate Deal [...]
January Starts with a Bang [Fresh Listings, Get ‘Em Hot]
It’s mid-January. As usual, inventory has started to rise. Are you ready to see some houses? This week's fresh listings include high-end luxury homes, curious investment opportunities, and swanky condos with protected views. There were over 60 new listings that hit the Boulder area market. We’ve culled the bad locations, re-freshed old listings, and otherwise uninteresting properties. Here's what's worth seeing. To schedule a private showing, which includes a discussion of valuation, negotiation strategy, market and price trends, call Osman at 303.746.6896. Fresh Listings Boulder 2299 4th Street | $6.25MM | More Details Built in '12, this stunning home is minutes from [...]
The TOP Boulder Real Estate Sales of 2016 (Deal #3)
by Osman Parvez ---- Drive out of town on Lee Hill Road into the foothills, and you'll pass some of the most spectacular and exclusive real estate in Boulder. Wineglass Ranch comprises five large parcels on the north side of the road, each with 5 to 8 acres of land, directly abutting City of Boulder open space. 415 Lee Hill Road was the #3 top deal of 2016. Note: This post is part of a series highlighting the top real estate deals of 2016. Top sale #4 is HERE. 415 Lee Hill Road | $5.9MM Sitting on 5+ acres of [...]
The TOP Boulder Real Estate Sales of 2016 (Deal #4)
by Osman Parvez ---- Who wouldn't want to take a long bubble bath, when you can enjoy it with a view overlooking Boulder? Or perhaps you'd like to dine with a sunset backdrop before snuggling in for a movie in your custom screening room? Ready for some serious eye candy? It's the #4 top Boulder real estate deal of 2016: Note: This post is part of a series. Click here for house #5 19 Arrowleaf Court | $5.4MM 5 bedrooms, 7 bathrooms, and over 10,000 finished SQFT in one of the best locations in Boulder. If you haven't heard of [...]
The TOP Boulder Real Estate Sales of 2016 (Deal #5)
by Osman Parvez ---- The buyer of this stunning estate patiently scoured the Boulder real estate market, according to parties knowledgeable about the transaction. After years of searching, he finally found one that checked the boxes. It's the #5 top real estate deal of 2016. 400 Utica Avenue Acquired at a 6.7% premium to the asking price, this $4.8MM trophy parcel comprises a generous 2.1 acres including a protected view corridor overlooking Wonderland Lake and the Flatirons. Most of the +2,800 SQFT on the main floor were designed to highlight the perch. Early 60's vintage construction is of little interest to the [...]
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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.
