A Few Thoughts on Thanksgiving
Silent gratitude isn't much use to anybody. -G.B. SternWhen I was a child, our family gathered together on Thanksgiving to be with others from our immigrant community. Often, it was the first and second generation immigrant children who had learned about the holiday from school and their friends. Thus, the tradition passed on, as it has for many immigrants to America. This Thanksgiving, things will be a little different. Our family won't be gathering together. We're doing our own thing. As the saying goes, absence makes the heart grow fonder. It's with more than a touch of sadness, but tremendous gratitude, that I reflect back on decades [...]
921 South High Street [Notable Sale]
DENVER: 921 South High Street | $1.68M Why Is It Notable?It was an exciting year when this historic home was built. Teddy Roosevelt and the Bull Moose Party lost the presidential election to Woodrow Wilson, New Mexico finally became a state, and the Titanic went down on her maiden voyage. Traditional on the outside, completely refreshed on the inside. 921 S. Highland Street features a classic floor plan, five bedrooms, six baths and a generous 4762 F. SQFT. For your quarantine pleasure, it also features multiple living and entertaining areas and nicely manicured, low maintenance outdoor areas. The two car garage is extra tall to accommodate storage or roof-racked vehicles. The location is [...]
515 Race Street [Notable Sale]
DENVER: 515 Race Street | $5.98M Why Is It Notable?The Arthur E. Johnson House, designed by Burnham Hoyt (who also designed the Amphitheater at Red Rocks). Constructed in 1928, it's a Tudor style mansion with six bedrooms, seven baths and is surrounded by a sizeable 3/4 acre manicured lot, located between the Denver Country Club and Cheeseman Park. The photos are worth a click.The last time the home was publicly available was nine years ago. This time around, the ~'8600SQFT mansion was available for a little over two months. It sold at the asking price. As an asset class, historic homes in premium locations with famous architects tend [...]
The Calm Before the Storm [Analyze This]
Let's talk about the real estate market. I just wrapped up two days of obsessive data crunching on market conditions. My analysis paints a picture of a market gone wild in response to rapidly changing economic and social conditions. I've put together dozens of charts, but rather than inundate you, I'm going to share just one. You're looking at inventory levels for single family, detached homes in Boulder, Boulder County, and Denver. It's based on the latest market data (through the end of October) and shows inventory levels relative to the 3 year average. Inventory last month was 40% below average (red line) [...]
For Sale, Friendly Occupant Included [ Fresh Listings, Get ‘Em Hot]
Hi Folks. I just finished writing our latest edition of Fresh Listings. It includes the very curious tale of what once seemed to be a great investment in a tony Denver neighborhood, but now appears to a landlord's nightmare. Why? Well, let's just say you're not just buying the house. You're buying a big problem: the home has occupants who seemed to have stopped paying rent and, in case you missed it, Colorado has a statewide eviction moratorium. After months of struggle, the owner has had enough. They want out and they want out, fast. It's being offered at auction, with a starting price [...]
The Joe Rogan Effect [Analyze This]
What does Joe Rogan have to do with Boulder real estate? Put on your snorkel. It's time for another dive into market data for Boulder and Denver real estate. An important note about the information presented below. Some of the charts show monthly data expressed as a percentage from the average. So for example, when you see +27%, it means 27% above the average for that month. It does not mean 27% of the average. Capiche?SUPPLYWhen faced with uncertainty, people take fewer risks. It's just human nature. Since Covid-19 hit, potential sellers of single family houses have bunkered down. Beginning this spring, inventory of homes [...]
Nobody Has a Crystal Ball [Analyze This]
The summer season is wrapping up. At the moment, the team at House Einstein is actively engaged in multiple real estate deals and focused on helping our clients successfully navigate the process to buy and sell property. With that said, this is traditionally the time of year when peak market activity wraps up and we can begin to devote a bit more time to analysis. As we've been riding a wave of market activity, I've been wondering about what lies ahead. Record low mortgage rates, an artificially delayed seasonal market (due to Covid), and ultra low inventory for detached single family [...]
Boulder and Denver Realtor Talk | Episode 1
A video discussion of real estate conditions in Boulder and Denver, brought to you by House Einstein. In this debut episode, we discuss the following: 1. The flight from urban areas in Denver to lower density neighborhoods on the Front Range. 2. Why the market ignores some listings. 3. The impact of trust on real estate deals. Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005. Osman is the primary author [...]
Boulder vs. Denver Condo Market [Analyze This]
How have the Boulder and Denver condo markets been responding to the Covid epidemic? About as you'd expect. Note: If you've been tracking our socials (FB, Twitter, Instagram), you've seen the following charts. The graph above shows inventory for condos and town homes in Boulder. The yellow line is the most recent data, for the last twelve months (LTM). The blue shaded area is the average for the preceding three years, per month. As you can see, inventory in Boulder has been above average for the entirety of the past twelve months. Now let's look at Denver. Like Boulder, inventory [...]
How Quickly The World Has Changed [Denver Market Analysis]
This morning, the Denver Post published an interesting article about the changes happening in Colorado's real estate market caused by the Covid19 epidemic. The sensational headline was about the number of listings that have been withdrawn during the past two weeks, based on an analysis from the Denver Metro Association of Realtors for 11 counties. The article states that hundreds of listings have been withdrawn from the market, but ignores the surprisingly high absorption rate during the past two weeks. Yesterday, we analyzed the Boulder market by price range. The conclusion was that certain price ranges are still seeing high absorption rates. [...]
Denver Market Update [MLS Data Error?]
Early today, we published a cute market update video from ReColorado, the Denver area MLS. The video was for the Denver metro area and in aggregate, it looks similar to what happened in Boulder County last month. Now here's the catch. The data release from the Denver MLS was delayed for January, for undisclosed reasons. When it finally showed up, attached dwellings have been further broken out into town home and condo subcategories. In theory, this is a very good thing but unfortunately, the historic data now looks wrong. For now, this means you can't trust any changes shown from [...]
Denver Pending Sales SPIKE [Metro Market Update]
The ReColorado (the Denver area MLS) just released an analysis of market conditions for the Denver Metro. Check it out. Their analysis is inline with the increased market activity we're seeing Boulder County. Inventory, sales volume (+9%), and pending sales (+25%) are all up. Keep in mind that this analysis is a high altitude view. Market conditions always vary by price range, property type, and location - down to the street level. If you want actionable information about your unique real estate situation, contact your House Einstein Realtor (Why Us?). Osman Parvez is the Founder and Employing Broker of House Einstein. [...]
2615 Meade St, Denver
2615 Meade St, Denver 3 bd | 2 ba | 1,568 sqft $576,000 Sold On 10/25/2019
336 N Grant St APT 212, Denver
336 N Grant St APT 212, Denver 2 bd | 1 ba | 588 sqft $227,000 Sold On 08/30/2019
A Vibrant City Summer [Denver – Fresh Listings]
--- by Sophie Kloor Happy official Summer! Despite the rain, inventory remains steady throughout Denver County. Buyers have a wider range of selection throughout various price points as we are seeing longer days on market and reduced competition across the board. That said, well priced and intelligently marketed properties are still moving quickly, but not as rapidly as previous years. As of last month, active detached Denver County inventory was up +8.8% from the previous year, while attached dwelling inventory was up a significant +23.1% from the previous year. Days on market was up +23.5% for detached properties year over year, and [...]
