Boulder Market Update: Inventory Up, Sales Slow [Analyze This]
by Osman Parvez ---- If I were to base my analysis of market conditions on my brokerage's business, the Boulder real estate market is scorching hot. I have a healthy number of clients and many are now under contract and heading to closing. That's how most Realtors talk about the market. They base it on their personal business or what they hear from their colleagues at the water cooler. Don't believe the hype. Ignore the hand waving and happy talk from my competitors. The market is starting off cooler this year. Let's look at the analysis. Inventory for [...]
Modern on a Perch and Income Properties [Fresh Listings, Get ‘Em Hot]
56 Listings hit the market this week. 11 Already under contract 9 Refreshed old listings (including one that thinks it’s worth $200K more than 4Q) 26 Overpriced, bad locations, not built yet, not particularly interesting, or otherwise undesirable. -------- 10 are worth looking at this weekend. Let's go see some houses. To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Boulder 2345 Balsam Drive | $2,790,000 | More Details If modern is your thing, here’s your chance. It’s on a little island of high-end houses with views on Panorama, Alpine, [...]
Longmont’s NextLight Forges Ahead, Boulder Flounders in Muni Quagmire
Longmont's NextLight Installation in Progress In case you forgot, Boulder is still trying to buy an obsolete electrical grid while Longmont is actually installing fiber to houses. Boulder's muni efforts have already cost taxpayers millions of dollars (the city admits to $5.9MM). If successful, municipalization will substantially increase your monthly utility costs even under the most favorable modeling scenarios while doing nothing to reduce our carbon footprint and fight climate change. Let's face it. Municipalization is a money hole. Instead of fighting Xcel and indebting taxpayers for little return, we could be installing solar panels and Tesla batteries in [...]
Horse Property, Historic Charmers, and Chic Urban Flats [Fresh Listings, Get’ Em Hot]
58 Shiny new listings hit the Boulder real estate market this week. What’s worth seeing? Let’s find out. 5 are already under contract. Snooze you lose. 9 are sneaky refreshed inventory. Sorry listing agents, old is old. 32 are in bad locations, overpriced, have poor investment potential, or are uninteresting. In other words, I wouldn’t buy them. That leaves just 12 worth seeing. To schedule a private showing, which includes a discussion of negotiation tactics, valuation and price trends, call Osman at 303.746.6896. Boulder 4048 57th Street | $1,795,000 | More Details Just north of Boulder Airport and South of [...]
This Week: Investment Condos, Trophy Estates and Family Houses in Newlands [Fresh Listings, Get ‘Em Hot]
54 new listings hit the Boulder real estate market last week. Many were old, expired or withdrawn listings from late year (i.e., refreshed listings). A bunch were in bad locations or egregiously overpriced. Don't worry. We sifted the wheat from the chaff. Here's 15 worth seeing this weekend. To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Boulder 3135 4th Street | $1,735,000 | More Details Family friendly layout in highly desirable Newlands. Well maintained and appears to be turn-key. Only one block from open space. Excellent hiking only minutes from the [...]
A View to Drool Over and Luxury Lock and Leave Downtown [Fresh Listings, Get ‘Em Hot]
Yay for new inventory! Nearly 40 listings hit the Boulder area market this week. We culled the bad locations, overpriced, and otherwise undesirables. Here’s what is worth seeing. Note: You might notice that nothing over $1MM made the list this week. At higher price points, demand is lower, supply is higher, and we’re far more selective. To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Boulder 385 Hopi Place | $955,000 | More Details Solid location in Frasier Meadows. Looks like a good layout for entertaining. Interior finishes could use an [...]
Inventory Flood Kicks Off 2016 [Fresh Listings, Get ‘Em HOT]
You wanted more houses available for sale? Here it comes. After months of declining inventory, we’re finally starting to see a higher volume of fresh listings. This week... New Listings: 52 Under Contract: 5 Refreshed: 9 Overpriced: 5 Bad Location or Otherwise Undesirable: 10 Spec: 1 Worth Seeing: 22 To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Boulder 2036 Mesa Drive | $1,300,000 | More Details Last traded hands in 2013 for $938K. I love this location for its proximity to downtown Boulder but if you’re considering writing an offer, [...]
When Will Boulder Homes Exceed $1MM? [Analyze This]
by Osman Parvez ---- By now, you've seen the article in the Denver Post about $1MM home prices in Boulder. It created quite a buzz. You might have also seen the response in the Daily Camera, with some of my colleagues refuting the claim. Neither article does a good job of exploring historical home price growth in Boulder nor forecasting prices into the future. Let's dig into it. The chart above chart shows median sold prices for arms-length house transactions between June 1 and August 31 (i.e. "summer") within the city proper. Affordable housing, town homes, and condos are [...]
Gorgeous 2 Bed, 1 Bath Condo (Pre-MLS Opportunity)
by Osman Parvez ---- Right now, I know of many unlisted properties for sale. In most cases, the owners are still taking steps to prepare them for sale. One is just about ready now, so I can tell you about it. 2 bedroom, 1 bath condo at South Creek in South Boulder. Gutted and remodeled with hardwood floors and new paint. It features an garden level patio and is in a great location. Seriously, this condo is beautiful inside and it's ready for the next owner. We haven't finished staging it yet. It should hit [...]
Development Map Update | Food Truck Parks and Contentious Affordable Housing
by Osman Parvez ---- I woke up early expecting to shovel this morning. Sadly, there was no white stuff on the ground. Here's a Development Map update instead. Added 11/17/15 BHP's new affordable housing development - at 4525 Palo Parkway (44 tri-plexes, townhouses and apartment units in nine buildings. Units will consist of 13 one-bedroom units, 14 two-bedroom units and 17 three-bedroom units). Tempers are boiling over and there are LOTS of negative comments from the neighbors on this project. Expect the planning board meeting on 11/19 to be contentious. Read the public comments in the 600+ page board packet. The [...]
Is This Boulder’s Future?
by Osman Parvez ---- A client sent me this video about what's happening in the San Francisco Bay Area housing market. It's an eye opener. Is this Boulder's future? Let's hope not. Million Dollar Shack: Trapped in Silicon Valley's Housing Bubble ---- Want to get blog updates via email? Click HERE. Ready to buy or sell? Schedule an appointment or call 303.746.6896. You can also like our Facebook page or follow us on Twitter.As always, your referrals are deeply appreciated. -- The ideas and strategies described in this blog are the opinion of [...]
Osman, How Much Should I Offer? [Investment Analysis]
by Osman Parvez ---- We took one of our buyers to see an investment property at the Wimbledon in Boulder last week. At the end of the showing, they wanted to buy it. They asked "Osman, how much should we offer?" How much to offer and how much to list are the most common questions we get from our clients. To give you a sense of the type of work we do to answer the question, let me walk you through the analysis. This is far beyond the service you'll receive from a typical Realtor. We believe that [...]
This Week: A Castle for the Kids [Fresh Listings, Get ‘Em Hot]
Cleo knows how sniff out good houses Here are the 12 best houses and condos to come on market this week in Boulder, Louisville, Lafayette, and Longmont. As usual, we sifted through the listings and culled the overpriced, bad locations, refreshed listings, and other undesirable properties from our list. Ready to see some houses? Let's go. To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Single Family Homes 2265 Floral Drive | $729,000 | More Details Look familiar? It should. This ranch style Boulder house was on the market earlier this [...]
Development Map Updates
by Osman Parvez ---- Time for updates to our development map. - S'park, located just North of Boulder Junction. Sutherland Park will feature 246 residential units spread across multiple buildings in a mixed use development. Only 25 residential units will be for sale. The rest are rentals of which 45 will be affordable housing and the remaining, market-rate. I wonder if the low rate of owner occupancy will impact financing and marketability. Time will tell. Pearl West Making Progress - Boulder Junction Townhomes, located next to Boulder RV on 30th Street. 32 row houses having 3 bedrooms each, surrounding a [...]
Louisville or Boulder? [Analyze This]
by Osman Parvez ---- Boulder buyers often consider Louisville as a more affordable alternative. Over the years the spread between these markets has widened. This isn't just happy talk and hand waving. Let's look at the data. Enter the wayback machine. A few years ago, we helped a Doctor decide between purchasing in Boulder or Louisville by analyzing all the sold homes with 4 bedrooms and 2 bathrooms and running a regression. This is what it looked like. The chart above confirms what you probably already suspect. Boulder is a more expensive market but historically, it's also appreciated faster. [...]
