Boulder Junction Update
by Osman Parvez Like the Little House in the country that over time becomes surrounded by the big city, Boulder's Historic Transit Depot currently sits in a parking lot surrounded by Whole Foods, Barnes and Noble, Landmark Cinema and more. According to the Daily Camera, planners want it to be part of the new Boulder Transit Village. Meanwhile, owners of the shopping center want it moved to make way for new development - sooner than Transit Village will be ready. However, preservationists don't really want to see the building moved twice. Things could interesting... ---- Like this analysis? Subscribe [...]
Bobos in Boulder
by Osman Parvez Here's an interesting post from a condo buyer in the Holiday Neighborhood, a New Urbanist development in North Boulder that has been progressing along nicely. He writes, "What I find interesting about the project is how it depends on a market demand for socially responsible policies. This isn't corporate social responsibility for its own sake. Nor is it top-down social engineering. The project is working because consumers want the product. (To be sure, some of the features may have been included to please local regulators. As you might imagine, it's not easy to build in Boulder.) Like [...]
Rising Sun
by Osman Parvez Looking for company on a training ride, our friend Ray stopped by the house this past weekend. Although my bathroom scale thinks otherwise (lies!), theoretically I'm training to ride my first century (100 mile bike ride) with him this summer. Ray Tuomey is the Marketing Vice President for Namaste Solar Electric, a Boulder-based, employee-owned solar electric company that designs and installs renewable energy technologies in homes and businesses in our community. Namaste has been involved in many local solar panel installations in Boulder, including a recent project for the Boulder Homeless Shelter saving the organization up to [...]
Boulder Inventory of Homes Available
by Osman Parvez To help a prospective client, we recently did a detailed market analysis within his specified investment criteria. Along the way, we updated our full market statistics through the month of February for all local areas. The chart below is Boulder's inventory of single family homes. As you can see, inventory levels are typically seasonal here in Boulder. And for the first two months of 2006, the inventory of available properties looks to be on par with last year, a sharp contrast to areas experiencing a downturn. ---- Like this analysis? Subscribe to our client research report. [...]
Historic Windows and Restoration Projects
by Osman Parvez I had the pleasure Monday night to attend a panel discussion on possible conflicts between the Green Points System and the Historic Preservation Program in Boulder. Bearing the cumbersome title, Historic Preservation/Environmental Sustainability Integration Project, an ad-hoc panel composed of a couple of architects, a window specialist, an energy efficiency expert, and an associate of Amory Lovin's Rocky Mountain Institute discussed a key area of conflict for the two programs. What's the conflict all about? Primarily, it's about windows. And, according to some homeowners we know who've gone to bat on this issue, getting the windows upgraded, [...]
Boulder Fix ‘n Flips
by Osman Parvez A few weeks ago, we prepared an analysis for a client of last year's fix 'n flips in Boulder. "Fix n' flip" defined as properties purchased, repaired or remodeled, and then resold for a substantially higher price within a few months. After analyzing 2005's sales data, I came up with four properties that were clear examples in the City of Boulder. Three projects had enough profitability to be successful, with an average purchase price of $427K, gross profit of $156K, and holding period of 188 days. One looks like it just broken even. The analysis includes "before" [...]
Boulder to Lyons Trail Moves Forward
by Osman Parvez ---- City Council approved the Community and Environmental Assessment Process for the Boulder Feeder Canal at last night's meeting. That's one more step in the direction of getting this decades long project finally underway. Here's the agenda item once again. Page 14 contains an expected timeline going forward. You can also download and watch the city council meeting on this agenda, including public comment on the issue. You'll need to install Real Player (free) to view the video. ---- Like this analysis? Subscribe to our client research report. Want to get blog updates via [...]
Serious About Trails
by Osman Parvez Boulder City Council is meeting today, Tuesday March 7th at 6pm and may vote on the creation of a new north/south trail from Boulder Reservoir to Carter Lake in Lyons along the Boulder Feeder Canal. See map and additional resources below. The City of Boulder Open Space and Mountain Parks Department has long been pursuing trail development to complete a route between Boulder and Lyons, eventually connecting to Hall Ranch and Longmont. The initial leg will be an 11-mile recreational trail proposed from U.S. 36, southeast of Lyons, to the Boulder Reservoir. This trail connection would also [...]
Boulder’s Lucky Goats
by Osman Parvez In a move certain to disappoint developers, Haystack Mountain Goat Dairy is partnering with the city and county government in a $1.6MM deal to buy property off 63rd Street and Oxford Road. Jim Schott, the owner of the Goat dairy will buy 31 acres for $650,000 and move his farm there. The county and city open space departments split the $950,000 cost of buying the remaining 49 acres and will lease pasture access to Haystack Mountain Goat Dairy. 800 Goats could be grazing on the land within a year. The business' cheeses are sold in Whole Foods [...]
Historic University Hill
by Osman Parvez Boulder City Council voted 6-3 on Tuesday night to create the University Place Historic District on University Hill, affecting blocks 700 and 800 of 14th street. St. Thomas Aquinas Church sought to be excluded from the district to keep it's future expansion plans unhindered, but this effort was defeated. The new designated district is quite small, but don't expect it to stay this way. A politically palpable strategy may have been to start with a smaller area and then expand over time. ---- Like this analysis? Subscribe to our client research report. Want to [...]
Bidding War?
by Osman Parvez Why do we counsel clients to prepare themselves to move quickly? Because good deals don't last long. Here's a real life example. The other day, I posted about recent $1MM+ sales in Boulder. One of these properties was located at 3173 3rd street in the Newlands neighbhorhood, a much sought after location in Boulder. As I mentioned in the post, that home sold for $2.2MM, a discount of $300K after 9 months on market. A few weeks ago, 3168 3rd street, a home across the street, was listed and sold for nearly $100K more than asking. The [...]
Boulder Off-Campus Housing Fair
by Osman Parvez It's that time of year again. Fall Pre-Leasing! This Wednesday (Feb. 15), from 10 a.m. to 4 p.m. the University of Colorado at Boulder will host it's spring Off-Campus Housing Fair. This is the kickoff to the fall rental season and many landlords and rental companies will participate. The fair is a "one-stop" shopping place for students, faculty, and staff to collect information on housing opportunities. If you are thinking about renting, you may also want to do the math on buying as well. You might be surprised. Be sure to read my post, "Can Buying Save [...]
Finding the Right Colorado School District
by Osman Parvez Finding a home with great schools is important to many of our clients. Yet, most aren't sure where to find information about local schools. If you're looking for a home or other real estate in anywhere in Colorado, buyers can start their research by looking up schools on the state's school accountability website. You'll need to know which schools serve the properties you are interested in. Check the MLS listing sheets provided by your realtor. You can also start your search the other way around. Say you discover that the Bear Creek Elementary School here in Boulder [...]
by Osman Parvez Awoke yesterday morning to a fresh 4" of powder. Beautiful. While parts of the high country are enjoying record snowfall, Boulder has only received about 1/3 of it's average for the Winter. With highs in the upper 50's this week, the white stuff won't stick around for long. ---- Like this analysis? Subscribe to our client research report. 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, [...]
Recent Boulder Home Sales ($1MM+)
by Osman Parvez In the past few days, a couple of high-end Boulder homes were acquired. 3173 3rd Street sits on 1.4 acres in very desireable Newlands . A stone's throw from Mt. Sanitas and backing to open space, this gem features custom cabinetry, honed marble counters, natural finishes, wood and stone flooring, and unparalled views. With ~4,600 sqft, this 4BD, 4BA home is luxurious and spacious. History: The property was originally listed in May of 2005 at $2.5MM and underwent three price reductions before selling earlier this month for $2.2MM, a $300K discount (8%). 2816 9th Street was built [...]
