Ranch, Two Story, Three Story, Bi-Level, Tri-Level. Does it make a difference? [Due Diligence, Phase I]
--- by Osman Parvez Ranch, Two Story, Three Story, Bi-Level, Tri-Level. Does it make a difference? The better question to ask is whether you’re so focused on your current needs that you’ve ignored your future ones. What about liquidity? If your job changes, or there is some other life event, will you be able to sell in a hurry? Should you be worried about capital preservation at this phase of the real estate cycle? Yes. You should be. What if you might need to expand in the future? Will the design, orientation, setbacks, and lot size support it? The rule book [...]
Hey Smarty Pants, Do Schools Matter? [ Phase I, Due Diligence]
--- by Osman Parvez Do schools matter? You bet they do. House Einstein's mission is to help you make a smarter real estate decision. This post is part of a series on due diligence in real estate, with some specifics relative to the Boulder real estate market. Phase I due diligence occurs before you write the offer. Phase II occurs when you're under contract. You'll find the rest of the series, as its published, available HERE. Across the board, most public schools in Boulder County do well academically but some outperform the rest. The reasons for this are a combination of [...]
So, You Want to Live in Boulder [Due Diligence Phase 1]
--- by Osman Parvez Due diligence. Some Realtors don't like to talk about it. We live and breathe it every day. House Einstein's mission is to help you make a smarter real estate decision. First things, first. There are two phases to due diligence. Phase 1 should occur well before you write the contract. Phase 2 should happen once you're under contract. This is the first post in a multi-post series. As they're published, you'll find the rest under #duediligence Where Do You Want To Live? Due diligence starts with the basics. Where do you want to live? Maybe you've [...]
Have You Found Your Way Home Yet? [Boulder – Fresh Listings]
Home. It's where families grow together and friendships kindle. It's where we break bread and share our life stories. Memories of our childhood homes create a resonance, a fond nostalgia for time and place. Well designed historic homes and those that echo historic design themes remain highly in demand, no matter the economic or real estate cycle. This week's fresh listings include another Charles Haertling masterpiece, an estate with true waterfront, a beautifully updated historic home in Chautauqua and more. 179 new listings hit the MLS this week. Only 7 made the list. Remember: just because it's worth seeing doesn't [...]
Portfolio Worthy Historic Homes and Ultra Luxury Estates [Boulder Fresh Listings]
Historic homes are charming and located in the best parts of Boulder, but there's another reason to buy them. They hold their value exceptionally well, sell faster, and appreciate better than mass produced homes from the 1950's and beyond. I absolutely adore historic homes and consider them a wise investment, but I also warn my buyer clients to go in with eyes wide open. Historic properties often have issues with foundations, a lack of closet space, deferred maintenance, and inadequate electrical, plumbing, and mechanical systems. Expect to conduct extensive due diligence and if you buy, plan for maintenance costs that [...]
Have You Crunched the Numbers? [Boulder Fresh Listings]
I've been crunching the latest data on real estate conditions in Boulder. It paints an interesting picture. Inventory continues to build, as expected, but pending sales spiked dramatically upwards in February. What does it mean? There's more to the story - a lot more. The real estate market varies by location, down to the neighborhood level. Property type and price range are also key factors. I'll be publishing charts and analysis on the blog and our socials for the next week or so. In the meantime, I know why you're here. It's Friday. Let's talk about the new listings. From high-end [...]
Flip Into the New Year [Boulder – Fresh Listings]
Who expects new listings to hit the Boulder real estate market during the slowest week of the year? Sadly, like a re-gifted present, most were refreshed listings pretending to be new. Only two new listings are worth a look this week. In addition to exploring these properties, let's take a closer look at closings from last week and have a more in-depth discussion on notable sales. Are you ready to dive into the world of Boulder real estate? Let's go! For a private showing and a data driven discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896. Our goal [...]
Client Tour: 294 Franklin [Video]
--- by Osman Parvez As you may recall, 294 Franklin was highlighted in my Fresh Listings post last week, Niwot Unicorns and Historic Charmers. We noted the property's reasonable price and downtown Niwot location as potential selling points. The big question was on the degree of deferred maintenance and whether the existing structure would make for good bones. One of our clients asked us to check it out and we put together a video of this visit. After review, our buyer passed on the property. It's too much of a project house for them. So, it's time to share video. The [...]
Client Preview: 2037 Mapleton Ave [Video]
--- by Osman Parvez A client asked us to take a closer look at 2037 Mapleton Ave so I toured the home yesterday. Attractive, well priced homes tend to go very quickly in Boulder. Video preview are a service we offer primarily to our relocation buyers, but occasionally we do these videos for our local buyers too (when they're out of town or otherwise can't attend). Sadly, 2037 Mapleton shows clear evidence of foundation failure. If you're considering an offer, I recommend valuing this property at a dirt-lot minus the cost of demolition of the existing structure. The cost to restore [...]
Fall Real Estate Deals and Take Home Lessons [Fresh Listings, Get ‘Em Hot]
A variety of autumn opportunities hit the Boulder real estate market this week; from an eye-popping, turn-key trophy home in Newlands to starter/investment condos for first-time buyers. It's the beginning of the off-season. While new inventory is declining, attractive listings can be found and if you dig a little deeper, you might even discover a bargain in the rough. What about market conditions? Experienced Realtors will tell you that the best deals are often found in the 4th quarter. It's still a seller's market in Boulder, but we're now entering the slow autumn season and conditions are better for buyers than [...]
Awkward Showings and Client Relationships [House Einstein Podcast #3]
In this episode: Integrity and Trust in the Real Estate Business Client and Agent relationships Awkward Showings Pre-Sale Inspections Benefits of Staging by Osman Parvez with guest: Sophie Kloor Podcast Listen Links: Google Play iTunes Sticher Soundcloud RSS ---- 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, your referrals are deeply appreciated. -- The ideas and strategies described in this blog are the opinion of the writer and subject to business, [...]
How Not to Win a Bidding War [Due Diligence]
by Osman Parvez ---- The most attractive listings in Boulder, priced appropriately and marketed professionally, attract multiple offers. Yes, even in this market. One way to increase the attractiveness of your offer (without increasing the price) is to limit the inspection (usually to health and safety items, or to a specific price threshold). Tightening up the inspection can help you win the bidding war, but forgoing the inspection entirely may cost a lot of money down the road. This is why. A post shared by HouseEinstein (@house_einstein) on Nov 15, 2017 at 1:37pm PST The service life for cast iron sewer pipes [...]
Wire Fraud and Realtor Phishing Attacks
by Osman Parvez ---- You may have heard that there's a scam out there with bank wires and earnest money. Here's how the phishing attack starts. Your Realtor receives an email that looks like the screenshot below. It looks like an offer on a listing. The link leads to a Russian site where your email account will be compromised. Later, in the middle of a deal, the buyers will get an email containing phony wiring instructions that appears to be coming from their Realtor. The originating email is coming through a compromised email account at Rochester Institute of Technology (RIT), [...]
And Then The House Exploded [Due Diligence]
by Osman Parvez ---- Buying a house? It's not just air quality from fracking that you should be worried about. First, let's catch up on the facts: A house exploded in Firestone a couple of weeks ago, killing two people. In response, Andarko shut down 3,000 wells. Meanwhile, Boulder County's oil and gas inspector admits that 40% of the wells tested are leaking. To say there is renewed interest in the potential dangers of oil and gas infrastructure is an understatement. I encourage all of my buyers to conduct complete and thorough due diligence. It's why we offer our clients a detailed [...]
No Dogs Allowed [Due Diligence: Read Your HOA Docs!]
by Osman Parvez ---- Public service reminder: Read your HOA documents. The following references sections of the standard Colorado Real Estate Commission approved real estate contract to Buy and Sell. § 7.3 Association Documents This is the seller's deadline to provide the buyer with association documents. Among other things, it should include the covenants, codes, and restrictions for the property. It should also include minutes from board meetings and financials. § 7.4 Association Documents Objection Deadline This is the buyer's deadline to have reviewed the documents. If something is not acceptable, buyers must notify the seller on or before [...]
