Sales Roundup – Higher End in Boulder
by Osman Parvez To advise clients well, it's important to stay on top of the market. That means rolling up your sleeves and tracking sales in specific neighborhoods, for different property types, and varying price points. Last week we looked at recent sales for investment condos at the entry level of Boulder's real estate market. Today, let's look at the most recent higher end home sales. 2380 Panorama. Asking $819,000 Sold: $804,000 I absolutely love this neighborhood. It's so close to downtown Boulder and many of the homes have spectacular views. Just not this one. A [...]
Seriously, Which Floor Should I Buy? [Analysis]
by Osman Parvez Is a top floor worth more than a bottom floor? Of course it is - but how much more? How about 21%? That's the peak price difference between top and bottom floor units at Aspen Grove, a popular Boulder condo development. At the moment, I have two clients interested in buying units at Aspen Grove - prompting this analysis. One wants a condo for investment purposes. The other as a personal residence. I've advised both to consider only 3rd floor units. Here's why. Show Me The Numbers As my clients know, I [...]
Sales Roundup – Entry Level and Investment Grade in Boulder
by Osman Parvez It's one thing to analyze the market from 10,000 feet, another to dig into specific neighborhoods and price points. Let's start with a roundup of a recent notable sales in Boulder. Click on the links below for photographs and details on each property. Entry Level and Investment 3223 Iron Forge K-113. Like I tell my clients, if you qualify for affordable housing, consider it. This 922 SQFT, 2 bedroom, 1 bath condo in the Steel Yards sold for only $131,000 on 10/15. There are downsides to affordable housing, namely that you're giving up [...]
Boulder Inventory Shortage Deepens
by Osman Parvez Talking to a reporter about the inventory shortage in Boulder, I realized it might be helpful to put together a clearer chart. The following shows September inventory compared to the long term average for both houses and attached dwellings (condos and town homes). Since it covers 8 years of data, you could consider the long term average "normal." Inventory of houses is about 51% of normal for this time of year. For town homes and condos, inventory is only 40% of normal. If these percentages were the spring snowpack, meterologists would be predicting a [...]
Happy Days for Boulder Real Estate Sellers [Market Analysis]
by Osman Parvez Sad news for buyers of condos and town homes. The market isn't getting any better. In the past, I've been able to negotiate the biggest discounts for my buyers during the 4th quarter. That's unlikely this year. Boulder Seller Ooh, but Happy Days are Here Again if you're a seller. The market is setting records for low inventory even as sales volume remains well above average levels. There should be no problem selling your unit quickly - assuming your agent has priced right, staged, and marketed it well. The following analysis is for [...]
Historic Floods Can’t Drown Boulder Real Estate Market [Market Update]
by Osman Parvez Many of you have been asking about the impact of last month's historic flood on the Boulder real estate market. Let's look at the numbers. Boulder Real Estate Market Update The following analysis is for traditional single family houses, only. I'll publish an analysis for town homes and condos in another post. Just a reminder... I'm a Realtor. My goal is to help you make a smarter decision. If you're in the market to buy, or you're thinking about selling, give me a call. 303.746.6896. Boulder Home Sales Volume The chart above shows sales [...]
Boulder Pending Sales Analysis [Market Update]
by Osman Parvez It's early October. After a scorching hot summer and the horrific flooding in September, you'd think the market would dramatically slow. Guess again. My latest analysis shows that pending home sales in the City of Boulder are continuing at a surprisingly strong rate. Although the full impact of September's floods have yet to be felt, the Boulder real estate market appears to have shrugged off rising rates. Yes, things has cooled slightly, but far less than I would have expected for this time of year. In other words, on a seasonally adjusted basis, the market remains very [...]
Boulder Flood Damage Breakdown
by Osman Parvez The majority of flood damage to public infrastructure in Boulder impacted open space and mountain parks and stormwater/flood systems, according to a preliminary report. The total damages are estimated at $48.9MM. Here's a chart. data: City of Boulder 93 miles of the 145 miles of trails within the OSMP system have significant to severe damage. 35 of the 98 parks and recreation facilities have significant damage. Just 1 percent (or three miles) of roads, citywide, have been damaged. The City of Boulder has 60 miles of bike path within city limits. Approximately, 15 [...]
My Favorite Flood Evacuation Video
by Osman Parvez This is what it looked like when three Boulder residents evacuated from Four Mile Canyon. My favorite flood video by far. Thank you Connor Wall, Will Adams, and Knutzen Hoff. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at 303.746.6896.
Pending Sales and Inventory Availability [Market Update]
by Osman Parvez Here's a quick look at pending sales and inventory availability across Boulder County. The key metric: Percent of inventory currently under contract. The chart above shows inventory of homes under contract with a buyer for Boulder, Boulder Attached Dwellings (town homes and condos), Longmont, Superior, Louisville, and Lafayette. Perhaps a surprise to many, Boulder has 40% under contract; less than adjacent markets. Louisville is leading the region with 61% under contract. If you're a buyer, flip that around. Boulder has more available inventory than any other local [...]
Southern Sun vs. Frasca: The Impact of Rising Rates on Boulder Real Estate
by Osman Parvez A few thoughts on the impact of rising rates on Boulder Real Estate. First Some Basics Via a monetary policy called Quantitative Easing, the Federal Reserve has been the primary purchaser of mortgage backed securities since 2008. This tool is in addition to their traditional lever over the discount rate. The Fed buying vast quantities of mortgages is the primary reason that mortgage rates have been so low, falling from an average of 6.03% in 2008 to 3.66% in 2012 (data). The Path to Higher Rates Last week, the Fed [...]
Showings for the Weekend? [Listings]
by Osman Parvez Yay! The weekend is upon us and there is a pile of new inventory. What's worth seeing? Let's walk through it. A quick search of the MLS shows 24 new listings hitting the Boulder market since Monday. I removed 13 of those listings because they're either refreshed old inventory or spec projects (i.e. imaginary houses). That leaves 11 worth your consideration for this weekend's showing schedule. I think 8 are worth a look. Let's take a closer look (all the listings). Ready for showings? Let me take you to see these properties this weekend. Call me at [...]
The Patron Saint of Real Estate? [Listings, Not So Hot]
by Osman Parvez --- I was wandering around Grand Rabbits in Boulder the other day, shopping for my niece and nephew's presents, when I came across this little gem. Take a look.... That's right. For only $5.99, you can have your very own Patron Saint of Real Estate. I suppose, if you're having trouble selling your house it certainly can't hurt to appeal to a divine power. In addition, you might consider calling a seasoned and experienced Realtor with a proven track record. You know, just saying... Anyway, since we're on this topic, let's look at a few listings [...]
Hot Or Not? [Fresh Listings]
by Osman Parvez Let's take a look at fresh houses and condos hitting the Boulder real estate market. Yes, new listing do hit the market even at this time of year. Of course, you have to sift the refreshed listings out. Oh look, I've done it for you. 2727 Folsom Street (link) - This is a nice option for a young professional or student. It might make for a nice executive apartment, a commuter reprieve or home away from home. With just 570 SQFT, be prepared for a minimalist lifestyle but it's a cheap way to [...]
Listings Worth Checking Out
by Osman Parvez In Boulder, inventory of available houses begins to build in January. As selection grows, more buyers also enter the market and competition for the most desirable houses is likely. It's important to pay attention. This morning, I sifted through the new listings in Boulder. I removed the obvious dogs (bad locations or other problems) and came up with a few worth a visit. I'll be scheduling previews for the weekend (assuming no forecast powder). Call me if you'd like to tag along. 303.746.6896. Remember, the only way to feel confident about the offer you're making is [...]
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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.
