CU Boulder : Buy or Rent? A Parents Survival Guide
by Osman Parvez CU Boulder: Buy or Rent? A Parents Survival Guide. So, your child is coming to CU Boulder and you aren't sure what to do about housing? Perhaps they're already here and after paying for on-campus housing or renting, you are re-thinking your options and wondering whether you should do the same next year. Does it make more financial sense to buy a condo or house? The infamous "pre-leasing" season for Boulder apartments is only a few months away and it's time to start doing your homework. Our main research article in the next Realty Unique Report is [...]
Realtor Conflicts and Buyer Agency
by Osman Parvez According to the Colorado Realtor Commission approved definitions of working relationships, a buyer's agent "works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity." Yet, brokers are constantly bombarded with enticements that may create conflict with their responsibility as a Buyer's Agent. Here's an example. Let's say I take up the realtor who emailed me today with an offer for $2500, a chair massage, gift certificates, and a free breakfast (click on image below). Later, when I bring my client to look at the property, [...]
Investment Strategies: Luxury Homes in Boulder
by Osman Parvez As of yesterday afternoon, there were 28 homes in Boulder on the market for $1,500,000 or greater. The median home is 5,250 SQFT, has an asking price is $1.9MM, and has been on the market for 178 days. Want a bargain? Check out the slowest selling luxury home in Boulder. 419 Canyon Blvd, on the market for 1,106 days. Originally priced at $2MM back in 2002, this 2,100 SQFT historic home (in the historic district) was reduced to $1.75MM in August, 2003. As I recently advised a client looking for a good investment, sometimes it pays to [...]
Go Izze!
by Osman Parvez Walking on Pearl Street the other day, I came across a shiny new Izze delivery van driven by two extremely enthusiastic Izze employees. Izze, makers of sparkling fruit juices in funky packaging, is another Boulder startup company that by all appearances is growing by leaps and bounds. Nearly every coffee shop and health food store here seems to keep Izze in stock. It reminds us of the success of Tom and Tom from Nantucket Nectars. Why post about Izze? Because one of the driving trends to real estate is Boulder's attractiveness to young and growing companies like [...]
New Boulder Condo Complex
by Osman Parvez The developers of One Boulder Plaza are thinking of their next big project. It's a 218,000-square-foot condominium complex in East Boulder on Arapahoe Avenue, near Flatirons Golf Course. The plans call for: 137 condominium units a community center on the property west of South Boulder Creek a 44,000-square-foot industrial building on the east side. Here's a map to the area. --- Like this analysis? Subscribe to my research. Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.As always, your referrals are deeply appreciated. The ideas and strategies [...]
Let it Snow!
by Osman Parvez It's early December and Boulder is just now getting its first real snowfall. The dry, fluffy white powder is falling here in town, meanwhile the mountain resorts are reporting new records. In Vail, the cumulative year-to-date snowfall is now 141.25 inches. This exceeds the 85/86 season record of 140 inches. Almost 4 feet of snow fell on Vail over the past week alone. Let it snow, let it snow, let it snow! By the way, for those of you who still think that the weather here in Boulder is something out of the Shining, let me dispel [...]
Boulder 29th Street Update
by Osman Parvez This afternoon we visited the 29th Street development and were surprised to see how quickly the new Home Depot was moving along. The wiring team has things organized for high efficiency. And workers were hustling to put up the sign on a Saturday afternoon. The grand opening is expected early next year. Nearby McGuckins could be in for a bit more competition, though little can beat the service at good ol' McGucks. We featured upcoming developments in this area, part of the Transit Village Area Plan in our recent research report. For a copy, please contact us. [...]
Boulder Real Estate Inventory Analysis
by Osman Parvez Last month's sales and inventory evidence for Boulder (our fair city) do not support a change in fundamentals. As shown in the chart for Boulder below, October had a 10% decrease in inventory of single family homes available from the same period a year ago. Meanwhile, the number of homes sold did not change. Thus far, (in Boulder, at least) there are few signs of a real estate downturn. Keep your eye on the upcoming indicators for the big picture. If you'd like to see how neighboring communities stacked up, please contact us. --- Like this analysis? [...]
Booming Market
by Osman Parvez Today's Daily Camera had a great article about this Summer's housing market. From January to September 05 the median single family home (not condo/town home) in Boulder sold for $519K, representing nearly a 10% gain from 2004. The $357,500 figure quoted in the article includes attached dwellings. --- Like this analysis? Subscribe to my research. Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.As always, your referrals are deeply appreciated. The ideas and strategies described in this blog are the opinion of the writer and subject to [...]
Boulder Maps
by Osman Parvez Here's a link to useful maps covering the Boulder area. Of particular interest are the rental housing and neighborhood maps. I've added this link to the permanent collection in the sidebar. --- Like this analysis? Subscribe to my research. Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.As always, your referrals are deeply appreciated. The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional [...]
Boulder Real Estate Sales Analysis
by Osman Parvez Okay, fair enough. Inventory levels are down year after year. "What about the demand side, what about sales," you might ask? Understand, that the number of homes sold (single family homes in the City of Boulder) tends to vary more dramatically than the number of homes in inventory in any given month. This is true both month to month and year to year. However, a trend can still be teased from the chart below. Despite having greater dollar volume, 2005 trailed 2004 in the number of homes sold, except in February, March, and August. In some cases, [...]
Oops, Maybe Not a Bubble Everywhere
by Osman Parvez Looks like the New York Times is finally catching on. No Virginia, it's not a bubble everywhere! If you don't happen to live in Boston, New York, Washington DC, or anywhere along the California coastline it may actually be cheaper to buy a home now than twenty years ago. That's in real dollar terms (the terms that matter). I believe the "widespread sense" that buying a home more expensive is misguided. Alas, for the most part I expect to see an up-tick in sensationalized "bubble bursting carnage" stories from the mainstream media in the coming months. Meanwhile, [...]
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Testimonials
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.
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.
