The Last Surge of Summer? [Analyze This]
by Osman Parvez ---- Ready for an update on inventory in Boulder for attached dwellings (i.e. town homes and condos)? Here we go. As of this morning (August 13th), total inventory has dropped to 157 units. This is up 10 from a week ago but down substantially from the seasonal peak in mid June. Meanwhile percentage of inventory under contract has increased to 71%, up from the recent low of 63% in mid July. What to make of these tea leaves? It's unusual for inventory under contract to increase after August. The majority of buyers have found their properties and [...]
The Market Signals a Downturn [The Wayback Machine]
by Osman Parvez ---- Here's one from the wayback machine: Fresh on the Market. Back in the early spring of 2007, the Boulder real estate market signaled the beginning of a downturn. Too bad wishful thinking and happy talk can't beat Mr. Market. One key indicator was the spike in refreshed, withdrawn, and expired listings. The analysis (Read: Fresh on the Market) looked at changes in sales activity for the same period (November to January) for three consecutive years. On the surface, sales volume was the same. Lurking beneath that data? A telltale indicator of a market about to [...]
Sorry Sellers, Boulder Inventory Under Contract PLUNGES [Analyze This]
by Osman Parvez ---- Psst... want to know a secret? The Boulder real estate market has finally started swinging back towards buyers. If your Realtor tells you differently, get a better Realtor. As usual, no happy talk or hand waving. Let's look at the charts. Remember, intelligent real estate decisions are based on a deep understanding of the market. If you're serious about buying or selling real estate in Boulder, call us for a detailed analysis of market conditions tailored to your specific real estate situation. Don't rely on a 30,000 foot analysis to determine your strategy, not even this one. [...]
Civic Area Design Initiative
The Boulder City Council is working on a plan to implement new designs and updates in Downtown Civic Area Park to better suit the City's needs. They have decided to turn to us, the citizens, for creative ideas! They're calling it the Civic Area Design Inspiration Initiative. Artists, architects and creative thinkers of all types are encouraged to submit their thoughts, pictures, drawings and ideas HERE in this three part survey. They are running three phases of the design initiative, and the deadline for phase one is July 10th. Since the passing of the Community, Culture and Safety tax initiative in November 2014, [...]
Have We Reached the Peak of the Selling Season? [Analyze This]
by Osman Parvez ---- This is a follow-up to yesterday's analysis of Boulder inventory and digs a little deeper. Consider it part #2 of the inventory analysis. We'll also expand by analyzing neighboring cities including Longmont, Louisville, Lafayette, and Superior. The key question for buyers and sellers is whether we've reached the peak of the summer selling season. It's a question that impacts selection, pricing, and negotiation strategy. Let's take a look. This busy first chart shows percentage of inventory under contract over the past twelve months. Note: - A far lower percentage of houses in Boulder are under [...]
Six Years of Declining Boulder Inventory [Analyze This]
by Osman Parvez ---- Ready for an update on real estate market conditions in Boulder? Here we go. Remember: intelligent real estate decisions are based on a deep knowledge of current market conditions. Don't settle for hand waving, happy talk, and old statistics too stale and generic to be useful. Get the facts about market conditions relative to YOUR specific real estate situation. If you're buying or selling real estate in Boulder or surrounding areas, CALL US FIRST. 303.746.6896. Let's start with a look at the single family house market. 115 houses are currently available, 119 are under contract and [...]
PAY Below Asking Above $1MM, SELL Dumpy Houses Below $600K [Analyze This]
by Osman Parvez ---- Buying or selling a house in Boulder? This is what the market looks like right now. At prices below $600,000, more than 80% of available inventory is under contract. This is the price range where we're seeing many buyers overpay for marginal properties and where we advise the most caution for our buying clients. Conversely, it's also where we advise our sellers who own marginal properties to liquidate in order to buy higher quality assets. Percentage under contract drops as a function of increasing price, more or less as you'd expect. There's a bit of [...]
Luxury Compounds and CU Kiddie Condos – This Week’s Fresh Listings
37 listings hit the Boulder real estate market this week. We culled the refreshed listings, the grossly overpriced, the bad layouts, and the marginal locations. These twelve are worth seeing. To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Single Family Homes 755 7th Street | $2.8MM | More Details This one is pretty spectacular, even to our jaded eyes. Gorgeous updates and hike half a block and you're on the best trails in Boulder. Outdoor living spaces, the indoor outdoor transition, and proximity to open space help anchor the [...]
Fresh Listings: Twelve Worth Seeing [Get ‘Em Hot]
minor flood damage Twenty two house listings hit the Boulder market this week. Four were snapped up by desperate buyers. Eight were in bad locations, grossly overpriced, or simply refreshed old listings pretending to be new. Only ten are worth your time. Let's take a look. Note: We're ignoring attached dwellings again this week. Too little inventory and frankly, my buyers don't need any additional competition. To schedule a private showing, which includes a discussion of valuation and price trends, call Osman at 303.746.6896. Single Family Homes 2100 Riverside Lane | $2.3MM | More Details First, there's no [...]
Understanding Depth of Market in Boulder Real Estate
by Osman Parvez ---- It pays to understand the market. It's painful ($$$) when you don't. The chart above shows the ratio of houses sold in Boulder during the last twelve months (LTM) compared to available inventory, separated into price ranges. In the $1.0 to $1.5MM range, there were more than 6x the number of sales during the last twelve months than current listings. In the $1.5 to 2.0MM range, the ratio drops to just under 2x. In the top tranche, homes priced from $2.0 to $3.0mm, the ratio falls to 1.4x. What's the Significance? [...]
Available Inventory Finally Rises, but Not for Town Homes or Condos [Analyze This]
by Osman Parvez ---- Intelligent real estate decisions are based on an in-depth understanding of market conditions. Does it feel like you're flying blind? Get a better real estate adviser. Time for an inventory update. The following is a broad analysis of the Boulder real estate market. If you're thinking about buying or selling (and you're not under and exclusive agreement with one of our competitors) call us to discuss market conditions relative to your price range, property type, and location. Ph: 303.746.6896. Total inventory continues to climb. 197 houses (blue) and 154 condos and town homes (orange) [...]
What’s Worth Seeing This Week? [Osman’s Picks]
Thirty one houses hit the Boulder real estate market this week. We weeded out the overpriced, the bad locations, bad layouts, or otherwise undesirable. Just five are worth seeing. 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. Single Family Homes 700 Hawthorne | $919 | More Details Check out the cathedral ceilings, the playful layout, the excellent transition to the outdoor living spaces. We love it, except for the nasty overgrown pine in front yard but that's an easy fix. From a numbers [...]
Tesla’s New Household + Utility Grade Battery, Impact to BOULDER [Municipalization]
by Osman Parvez ---- Tesla is set to introduce home and utility-grade batteries on April 30th. As costs plummet, cheap storage will likely be disruptive to the existing model. Yet here's Boulder Council, holding secret meetings and forging ahead with plans to acquire an ancient distribution network. I have nothing against a Municipal utility. Local control feels good, even though we're ignoring some of the risks. It's just becoming increasingly clear that taxpayer resources might be better spent subsidizing household and business level production (and soon storage) than paying lawyers to fight over Xcel's Model-T era distribution assets. [...]
Inventory Update [Analyze This]
by Osman Parvez ---- A quick look at inventory, updated through today, April 20th 2015. Inventory continues to creep mildly upward. 182 houses and 157 condos and town homes are listed for sale. As of this morning, 108 attached dwellings are under contract. 48 are available. This ratio will change as final negotiations take place for last week's new listings and agents update the MLS listing status. As an odd coincidence, 108 houses are also under contract. 74 houses are available. Keep in mind "under contract" includes "active/backup" and "pending" status on the MLS. Our take? [...]
The Wheat From the Chaff [Fresh Listings, Get ‘Em Hot]
43 new listings hit the Boulder real estate market this week. We sifted our way through them. Here's 10 worth seeing. To schedule a private showing, which includes a discussion of valuation, negotiation strategy, due diligence, and market trends, call Osman at 303.746.6896. Single Family Homes 1723 Canyon Boulevard | $599,900 | More Details It's currently an acupuncture office with some nice touches. It feels rustic, and we like how the yard space seems private and away from the street. 1350 Riverside Avenue | $615,000 | More Details This is a lovely family home with a great location across Broadway and right by [...]
Welcome to House Einstein
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.
