453 Pine Street [Notable Sale]
NOTABLE SALE: 453 Pine Street | $5.9MWhat Makes It Notable? We wrote about this gorgeous Four Square when it first hit the market in August of 2020. Acquired fifteen years ago, it was beautifully updated and renovated by the owner. I'm quite surprised it didn't sell faster. During its listing period, it went under contract several times before a buyer completed the purchase. This is not uncommon for higher-end properties. From a marketing perspective, the seller priced on the high side but stuck with it. That's part of the strategy for luxury homes. There were no price reductions throughout the listing history. It eventually sold for 6.3% below the list [...]
429 Highland Avenue [Notable Sale]
NOTABLE SALE: 429 Highland Avenue | $2.56M Unrealistic Expectations Well, well. Someone bailed out the unwise previous owner who acquired the property in October of 2019, almost certainly without having understood the extensive restrictions in the Mapleton Hill Historic District. We don't know who those people were as it was held anonymously, but we do know their remorse likely came quickly. They had it back on the market only a few months after their initial acquisition. Too bad they chose an unrealistic (i.e. wishful thinking) list price of $3.85M. Mr. Market ignored it, as you'd expect. We went to see it ourselves and couldn't quite get our head around the extensive renovations that would have [...]
2420 10th Street [Notable Sale]
NOTABLE SALE: 2420 10th Street | $2M Why Is It Notable? On and off the market since September of 2019, and originally listed at $2.7M, this adorable Edwardian Vernacular has been extensively modified over its 120 year history. It was adorably cute but lacked one fundamental requirement for almost all buyers of $2M+ homes: a garage. Offsetting the deficiency was a small carriage house/studio in the back of the home. It sold for $2M or 11% below the last asking price, which is fairly remarkable for this asset, and proof that value investments can be found by a careful review of stale listings.Like this content? Check out Fresh Listings. [...]
809 Pine Street | $4.95M [Notable Sale]
NOTABLE SALE: 809 Pine Street | $4.95M Why Is It Notable? A Queen Anne in the center of the Mapleton Historic District, designed by E. H. Dimick, a local architect who also designed Old Main. The home sits on just over half an acre and is known as the Morrison-McKenzie house. Constructed circa 1877 for just $3,500, it was designed and built for John Morrison, a local mining businessman. From a livability perspective, the property is more than adequate. It features six bedrooms, parlor, formal living room, family room, two wood burning fireplaces, and a carriage house - spread across a generous 4,800 T. SQFT. The location is well chosen, only [...]
1718 Mapleton Avenue [Notable Sale]
BOULDER NOTABLE SALE: 1718 Mapleton Avenue | $1.56M Why Is It Notable? This property has been on our radar since it first arrived on the market about a year ago. On paper, it looked great and the photos were compelling. Our showing turned up a few problems, so we thought it was best to watch and wait.Sure enough, it sat on the market through the winter and into the spring. In May, the seller began cutting the price in steady increments, and the price kept coming down. By October, it had fallen to $1.59M, and it still wasn't flying off the market. It wasn't until November that a [...]
603 Highland Avenue [Notable Sale]
BOULDER NOTABLE SALE: 603 Highland Avenue | $6.69MWhy Is It Notable?Five separate homes on Highland Avenue have made the cut for Fresh Listings. Do you get the sense that it's one of House Einstein's favorite locations?Known as the Goldsworthy house, 603 Highland Avenue is an Edwardian historic home with hints of Queen Anne style. Originally listed in June of this year with an asking price of $7,300,000. Available for more than 4 months, it went under contract in October and closed this week with a sale price of $6,685,000 (8.4% below asking). In addition to the location, what made the 603 Highland special was [...]
745 Highland Avenue [Notable Sale]
745 Highland Avenue | $3MWhy Is It Notable?We've been tracking the Moorhead House since it first hit the market in January at $3.6M. It was designed by Boulder architect Watson Vernon and constructed for James Moorhead in 1902. Vernon also designed the Washington Street Elementary School, now part of Washington Village. Moorhead served as Postmaster of Boulder, County Clerk and Recorder, and Colorado Secretary of State.Like this content? Check out Fresh Listings. It's our review of the most compelling new listings to hit the Boulder and Denver real estate market | SubscribeFrom a location perspective, this is one of our favorite parts of [...]
289 Pearl Street [Notable Sale]
289 Pearl Street | $1.7MWhy is it Notable?I wrote about this four bedroom, four bath listing in an earlier edition of Fresh Listings. Back then, it hit the market with an asking price of $1.9M. It’s a moderate sized, newer two-story on the West End, with design elements intended to look historic. It was available for about three months, and a buyer locked it down for a substantial discount. It sold for $1.7M on August 31st, or about 10.5% below the asking price. Assuming that there were no issues from past flooding, this is a bargain for the location. Sometimes it pays to wait and [...]
A Cluster in Boulder [High-End Notable Sales, Analysis, $2M+]
There's no denying the capital markets meltdown happening due to the Coronavirus. As I wrote about in my last blog post, one possible impact will be more hesitant buyers. More inventory means better selection and more buyer leverage in negotiations in the 2Q and 3Q of this year. The counterbalancing impact will be lower rates, but this is more impactful for buyers who are rate sensitive (i.e. focused on monthly payments). Luxury home buyers are typically not rate sensitive, but they do keep a close watch on their portfolio values. If you want to ZIG when others ZAG, you need [...]
She Loves Me, She Loves Me Not | 531 Maxwell Avenue [Notable Sales]
Sometimes, people fall in love only to discover that their relationship isn't what they thought it would be. Perhaps their partner didn't have potential. Maybe they were simply too high maintenance. Either way, getting out comes at a price. Happy Valentines Day, Boulder! No, we're not talking about your old girlfriend or boyfriend. We're talking about Boulder real estate. In this recent sale, a mid century home in Boulder has sold multiple times in recent years. Buyer after buyer fell in love, only to dump their partner a short time later. What happened? 531 Maxwell Ave| $1.53M | Pics and Details It's a tasteful [...]
Two Gorgeous Historic Boulder Homes, One Killer Location [Fresh Listings, Get ‘Em Hot]
--- by Osman Parvez Is an extra bedroom and premium location worth +$2.5M? Two similar historic homes hit the market recently in Boulder. Constructed only a few years apart, they are both Edwardian Vernacular. One is slightly larger and features an extra bedroom. Both are in good locations. One clearly outshines the other. Sign up to read the post HERE. [Why signup? Here's why... ] Homes reviewed in this week's fresh listings: 2133 6th Street 1565 Columbine Avenue 816 Mountain View Drive 335 Martin Drive 4725 16th Street 6877 Countryside 4143 Sunrise Court ---- Ready to buy or sell? Schedule [...]
Winter Is NOT Coming [Boulder Fresh Listings]
Come on people, step away from HBO for a moment. We're in the SPRING market! There are over 1,500 listings on the market in Boulder County. Nearly two hundred more hit the market this week, alone. Can you read past the doctored listing photos and Realtor hyperbole? If you're a buyer, what's worth seeing and what should you skip over? Many listings are overpriced, poorly located or in compromised locations. Yet nearly 1 in 5 houses during the 1st quarter sold for more than asking in the City. Once again, it's a tale of two markets. To help guide you, I sifted [...]
Facts + Historic Mapleton Hill + ADUs,+ Newlands + Hidden Upside + More [Boulder Fresh Listings]
You can't make an intelligent decision without knowing the facts. Period. Spring is here and the Boulder real estate season is officially underway. Overall, inventory is up and buyers have more selection now than in the past several years. More sellers are bringing their homes to market and facing stiffer competition. Things could get interesting. Remember, market conditions vary dramatically by price range, property type, and location - down to the neighborhood and street level. The market for a custom home in Table Mesa is not the same as Majestic Heights, despite being separated by a single (albeit busy) street. [...]
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 [...]
Mapleton Hill Trophy or Mountain Log Cabin? Choose Your Adventure [Boulder – Fresh Listings]
The Boulder real estate market is starting to heat up. There are now over 1,300 properties listed for sale. About 43% are under contract. Believe it or not, the market is more balanced now than in many years. In the city of Boulder, house inventory is up about 10%. Attached dwellings (condos and townhomes) are up far higher, largely driven by new construction. Buyers have more selection and fewer bidding wars. But make no mistake, attractive, well priced properties will continue to disappear quickly. The key is knowing which homes are worth your time to consider. Like the chart above? Visit our [...]
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