City Snow Plow Problems?
by Osman Parvez ---- Call Felix Gallo, Coordinator for Transportation and Utilities Maintenance. Or as the Camera calls him. The Plowmaster. Contact information below. By the way, it looks like the crews have been putting in a massive effort to keep the roads in Boulder safe. According to a letter to the editor, published in the Camera (bold is mine).... As the Transportation and Utilities Maintenance Coordinator for the city of Boulder in charge of snow operations since Dec. 12, I would like to invite citizens to contact me directly with concerns and/or comments regarding our efforts during the recent [...]
The Smartest City in America
by Osman Parvez Congratulations Boulder! Forbes Magazine calls us America's Smartest City. From Forbes: Boulder, Colo. may seem like a surprising winner, but it’s no ordinary university town. The University of Colorado’s students and staff account for about 38,000 of the city population of 282,200. Boulder, though, is also sticky enough to keep many of its own graduates around--and attract others. “Boulder is recognized as a very exciting town to go live in,” says Bert Sperling, founder of Sperling’s BestPlaces. “It’s attracting young degree holders who want to go somewhere with an outdoor lifestyle.” If they don’t come for the [...]
The Crystal Ball of Real Estate
by Osman Parvez To honor the passing of widely admired, free market economist Milton Friedman perhaps it's time for a post on economic forces in real estate. If you're not into economics, market drivers, etc., you might want to skip this post. I'll try to write this so it's more interesting, but remember Economics is called the dismal science for a reason. Many recent clients are asking whether to buy/sell now or to hold off on their real estate decisions. They're reading the national news about dropping prices and increasing inventory and rightly wonder whether local prices will be up, [...]
Worst House, Best Neighborhood.
by Osman Parvez You've heard it before. If you want to make money, buy the worst home in the best neighborhood. Here's your chance to have multimillionaire neighbors for a fraction of the cost. I just walked in the door from showing one of the best Boulder home buying opportunities I've seen in a long time. The asking price is the high $6's and all the neighbors are $2.0M+ . This house hasn't been on the market in 30+ years. The last rehab was in the 70's but the house has great "bones." The bare dirt lot next door sold [...]
October Market Updates Available
by Osman Parvez It's hard to believe that October is already a third gone. How time flies. Are you ready for my usual monthly market updates? Has Boulder real estate shaken off the summer's slump? What about local inventory levels and sales? How are Days on Market? This month I thought I'd try something different. I posted a link to the report in our research archive at realtyunique.com. This is the same report I send to my investor clients, friends and colleagues. In that file you'll find summary tables of local real estate conditions, showing both year/year and year to [...]
My “Best Of” Boulder
by Osman Parvez I finally got around to creating a "Best Of" archive of blog posts and research reports, including The Realty Unique Report, in depth research I put together last year. There's also an example of fix and flips in Boulder from my research last winter. Click HERE to visit the archive. It's also linked in the right menu under "Best Of" articles. If you have any suggestions for "Best Of" material from this blog to include in this archive, please let me know. I'll be adding to it in the coming weeks. ---- Like this analysis? Subscribe [...]
Highlights of Boulder
by Osman Parvez Many of our clients visiting Boulder ask about things to do while they're here. Usually, I’ll sit down with them over a map and point out neighborhoods, features and attractions. Recently I decided to take a few minutes to put together a list. If you’re planning a visit to Boulder, here’s a few of our favorite things to do. 1. The Pearl Street Mall. Take a stroll through Boulders famous pedestrian mall. Indulge in ice cream, watch street performers, admire sculpture and water features, people watch or shop for that little something you won’t find anywhere else. [...]
NAR 2nd Quarter Report : Boulder up 7.8%
by Osman Parvez The National Association of Realtors has just released its 2nd Quarter results for existing home sales, showing a mixed market nationwide. According to the press release, The association’s second-quarter metro area single-family home price report, covering changes in 151 metropolitan statistical areas, shows 37 areas with double-digit annual increases and 26 metros experiencing generally minor price declines. – Many of the areas with declines are showing weakness in the local labor market. The strongest gains were in Baton Rouge, LA and Ocala, FL. The strongest declines were in the midwest markets in Illinois, Michigan, and Ohio. In [...]
Boulder School Choices
by Osman Parvez A recent visitor to my site asked about our local schools. Since many buyers have similar questions, I've elevated my response to post status. ---- Osman, Can you post a link that gives an overview of area schools? I have some friends coming to work at Amgen in Longmont and they want to decide where to look. Where do most Amgenites live? What are schools like in Niwot? They have a 5 and 7 year old I think. Hal Hi Hal, Here's what you do. 1. Start by searching for property in Niwot. 2. Now pick a [...]
Discussion: The Bubble and Boulder Colorado
by Osman Parvez The housing bubble is a hot topic and I know a lot of people are worried about it. As a followup to my recent post, A Boulder Bubble?, I'm hosting a Skypecast (discussion) this Wednesday at 7:00pm. You're invited! Here's a link to the Skypecast, The Bubble and Boulder Colorado. If you aren't a subscriber to Skype, it will guide you to creating an account. After that, it's free. Any questions? Image:Skype ---- Like this analysis? Subscribe to our client research report. Want to get blog updates via email? Click HERE. [...]
Location, Location, Location
by Osman Parvez If you're buying real estate in Boulder (or anywhere else for the matter), there's something you should know. This isn't exactly a secret. Some parts of Boulder are more desirable than others. For a variety of reasons, certain areas have cache, others are better for commuting, and some are seen as more desirable simply because they're filled with grand historic homes. Some of this is captured in "Location, Location, Location." But it turns out the old mantra is only half the story. While it emphasizes the importance of location, it fails to suggest getting a broader understanding [...]
Recent Articles – August 4th
by Osman Parvez What's a Super Slab? Imagine a $2 billion high speed toll road stretching from north of Ft. Collins to south of Pueblo. Ray Wells is busy planning to make it a reality.. For the third year in a row Forbes magazine has ranked Denver-Boulder as the best city in America for singles. Let's see, Louisville was recently named the best affordable city to raise a family. Ft. Collins was given the distinction as being the best place to live by CNN/Money magazine. And we're still best for singles too. Here's the article. File this under Green Destinations. [...]
Recent Links – July 20th
by Osman Parvez Circle Capital Partners are on the move again. They've acquired 9 buildings and over 900,000 sqft of prime office space in downtown Denver from the Blackstone Group and JER Partners in a deal valued above $100MM. The Globeville metal processing plant operated by Asarco is expected to be sold to a developer in the coming weeks. Located at I-25 and I-70, the plant has long been controversial for environmental reasons and a cleanup could cost $8-10MM. Details to be announced as early as next week. Will the Governor have the ability to exclude forest land from development? [...]
Deals of the Week
by Osman Parvez Here's what applying a contrarian strategy (start with high DOM) can yield in Boulder. The following homes sold this week at big discounts after prolonged periods on the market. 2155 S. Walnut St 2. This 3BR, 3BA, 1400 SQFT tri-level townhome is situated in a great location in downtown Boulder. Originally listed for 449,000 in march, it sold this week for 385K (14% discount) after 104 days on market. 1564 North Street. This 3BR, 3BA, 2200 SQFT home had a major renovation in '95 and was updated in 2004. It featured a newer kitchen with Hickory cabinets, [...]
Recent Links
by Osman Parvez It's been awhile since I posted links. Here are a few recent real estate and development related stories that are worth checking out (some articles may require registration). Bad luck be damned, 29th Street's Grand Opening is Friday, October 13th. The Wild Oats store won't be ready but 88% of the mall is leased, according to developers. Louisville is moving closer to creating an urban renewal area along CO42, with the planning commission voting 5-1 to move the proposal forward. The future Fasttracks stop located in the same area is helping provide momentum. Noodles and Company have [...]
