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 [...]
Is the Sky Falling in Boulder?
by Osman Parvez After traveling it always seems to take a few extra days to catch up on the work that piled up while I was away (hence the scarcity of blog posts). In the meanwhile, I've noticed more than a few doom and gloom news items about the real estate market. These pieces include a roundup of realtor or gadflyesque blogs on the bubble and another about buyers fleeing to Mexico. From the over-hyped sound of it, real estate is falling off a cliff and investors in particular are desperate to get out. Given that real estate isn't one [...]
New Boulder Dream Homes
by Osman Parvez In the past week several interesting high-end properties have been listed on the market, including two newly constructed properties. Perhaps one of these is your dream home. For a private showing, please contact us at 303.746.6896. Here's a taste... 743 Utica Ave $1,349,500 4 BD, 4BA This ~3,600 SQFT newly built custom home is directly in front of Wonderland Lake, with unobstructed views of the lake and mountains. It features large rooms, an open floor plan, decks, and coffered ceilings... 625 Hawthorn AVE, Boulder, 80304 $1,550,000 4BD, 4BA This very large new construction ~4800SQFT home in Newlands [...]
Why Boulder?
by Osman Parvez Why does a company like Crispin Porter + Bogusky pick a small town like Boulder, Colorado to setup shop? In business, innovation is a critical competitive advantage. Some have said it's the only sustainable advantage. In the recent past, it was fairly routine to evaluate a company's assets based on financial statements. The estimated value of plants, industrial machinery, and equipment can still be found on the balance sheet. But the most critical assets aren't on the balance sheet, they aren't bolted down on the assembly line, they walk in and out of the building each day. [...]
Boulder Million Dollar Discount Homes
by Osman Parvez Two January sales of note on Boulder's high end. 1333 King Street sold on January 4th for $1.2MM. Originally listed for $1.6MM in July of 2004, this home had 5 price reductions and was on the market for a whopping 553 days. The sale price represents a 25% discount from original asking (and 11% from the final asking price). The nearly 5,000 sqft, 5 Bed, 4.5 Bath home featured a designer kitchen and was completely renovated in 2001. As is the case with higher value properties, the Chautauqua location of this home was truly stellar. This sale [...]
