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 [...]
March Madness [Analyze This]
by Osman Parvez We posted our analysis of recent bidding wars last week in The Over-Under in Boulder Real Estate. Here's a comparison to last year. The percentage of properties which sold for more than asking in March expanded from 20% to 34% of sales, year over year. Sales volume dropped 10%. Keep in mind that this analysis is for the overall market for residential property in Boulder, which includes attached and detached dwellings. Takeaways No surprise, the market is tight. Inventory in Boulder is tracking about 70% below average, mortgage rates are still near record lows, and the economy [...]
The Over-Under in Boulder Real Estate [Analyze This]
by Osman Parvez One of our competitors marketing letters hit our mailbox this morning. As usual, it contained the usual "I'm #1" sales pitch and some charts that might have been relevant a few months ago. If you're buying or selling real estate in Boulder, you can't rely on old market data. You need to know what's happening right now. You need actionable, relevant information. Here's the skinny. 118 houses, town homes, and condos sold last month in Boulder. 34% sold for more than asking, 26% sold for asking, and 40% were sold at a discount. That's [...]
What Snow Storm? Go See the Fresh Listings [Get ‘Em Hot]
by Osman Parvez A storm is bearing down on Boulder this weekend, but if you're seriously shopping for real estate - put on your boots. You need to see listings when they're fresh. This week, 26 new property listings hit the Boulder real estate market. We culled the bad locations, refreshed listings, and other undesirables. Here are 12 worth seeing. Call me to schedule a private showing. 303.746.6896. Attached Dwellings 1301 Canyon Blvd 408 | $1,249,000 More Details If you're looking for a turn-key, luxury condo, this is a good option. The location doesn't get any closer to [...]
