Downsizing Options, Historic Beauties, and Farm to Living Room Fantasies [Fresh Listings, Get ‘Em Hot]
Some interesting eye candy hit the Boulder real estate market this week; a couple of historic homes in Louisville and Longmont, downsizing and family friendly options in Boulder, and even a fantasy farm just a few minutes away. Didn't you know? Farm to table is so 2016. Get ready to wear a straw hat, overalls and ride a tractor. How about your own baby-goat yoga pasture? Here's your chance. In all seriousness, the market is in high gear. There are lots of new listings and plenty of interesting price reductions. As usual - the most desirable stuff goes quick. [...]
Mountain Beauties, Hipster Town Homes, and More [Fresh Listings, Get ‘Em Hot]
Sure, it's snowing. If you're a serious buyer, you can't let the weather stop you. Almost 150 listings hit the market this week. The spring Boulder real estate season is well underway. Put on your puffy, slip on your Uggs and let's go see some houses. We sifted through this week's new arrivals and culled the bad locations, the refreshed old listings, and overpriced properties. The 10 listings below are the most compelling properties to hit the market; prime locations, intelligent designs, the best of Boulder real estate. To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and [...]
Signs of a Slowing Market [Analyze This]
by Osman Parvez ---- The Boulder market appears to be slowing. Although inventory levels are about the same as last year, absorption has dropped substantially. The high end is also starting to see inventory pile up. Smart buyers and sellers should adjust strategies and tactics accordingly. Before we begin, read Boulder Entry Level Remains Strong, High End At Risk of Correction and Boulder Inventory Stabilizes, Spring Outlook Positive. It will provide some background information on market conditions and is part of this inventory analysis blog series. The chart below shows the percentage of listed houses under contract in the City [...]
Louisville Market Update [Analyze This]
by Osman Parvez ---- As you can see from the chart above, the market is slowing in line with the normal seasonal cycle. 60 houses are on the market in Louisville, up about 20% from last year. Most of the increase is due to new construction in Markel's North End. About half of Louisville's inventory is currently under contract, which translates to 2 months of supply. 6 months is what many analysts consider a "balanced market." The pace of sales is what you'd expect, as 24 properties closed in the last 30 days, up slightly from last year. Note: About 2/3 of the available [...]
The Boulder Armory Project – What You Need To Know
by Osman Parvez ---- In North Boulder, sandwiched between Uptown Broadway, the Holiday Neighborhood, and a storage facility sits the Boulder Armory project. It's an 8.5 acre patch of land located at 4750 N. Broadway with derelict, long-vacant industrial buildings previously used by the National Guard. The long vacant National Guard Amory In May of this year, Armory Community, LLC exercised its option and acquired the property. The developer hopes to soon have approval from the City of Boulder for the issuance of permits. Previous plans included public art and community space but that idea was nixed when the developer [...]
In Pursuit of Happiness – Happy Independence Day!
Today we celebrate our freedom. We hope you have a wonderful holiday with your friends and family, full of gratitude, fireworks and fun! Remember: "The Constitution only gives people the right to pursue happiness. You have to catch it yourself." — Benjamin Franklin Happy 4th of July! image credit: Gabby Orcutt ---- 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 [...]
Community Forum To Take On Housing Challenges!
by Osman Parvez On Thursday January 22nd, the City of Boulder announced that it will be hosting a community forum called Why Housing Matters! to discuss opportunities and ways to address Boulder's housing challenges. This public forum will give residents a chance to engage in constructive conversations regarding how to best achieve our city's housing goals, while simultaneously upholding our community values. Participants in the forum will be asked to choose two Housing Boulder goals to discuss in greater detail with their fellow community members. Additionally, members of the five Housing Boulder working groups will be at the forum to listen [...]
Comment Policy
by Osman Parvez ---- A quick note on our comment policy. We welcome all comments, even anonymous ones but they must be relevant to the topic at hand. This evening I rejected an interesting comment because it was completely off topic to the post. As my long time readers know, all relevant comments (save those containing profanity) will be published even if I disagree with the position of the commenter. Good dialog is driven by opposing viewpoints and I welcome that here. If you'd like to leave me a comment and cannot find a relevant post, please use our contact [...]
Mortage Rate Alert – 4.375%!
by Osman Parvez ---- To the point of falling rates (in my last post), I just received this email from a friend. --- Just a heads-up - If you or your clients are looking for a mortgage lender, Provident Funding has some very good rates. They have high standards, cut no corners, lend in "nice" areas, so this is for the folks with high credit ratings and documentation of income. I'm paying down my existing loan (a jumbo) to get it below $417,000, locking in at 4.375% (and paying 1.75 points). $2600 in fees. (they discount 1/4 point for credit [...]
The Kiwi Difference
by Osman Parvez ---- Now that I've spent a little time in New Zealand (panoramic shot), I've started noticing a few differences. Like Boulder, people seem to pay a lot of attention to real estate, judging by the local newspaper and casual conversation. I know you've been wondering, so yes, in some places it does indeed look like the Shire from Lord of the Rings. No hobbits though, sorry. 10 differences between homes in Boulder and New Zealand 1. Heating Systems. Homes in New Zealand typically do not have a central heating system. There is no furnace, boiler, or baseboard [...]
The NEW Daily Camera
by Osman Parvez The Daily Camera launched a completely redesigned website on Monday and it looks fantastic. The choice of colors is a little unusual, but helps it stand out from other bland and boring news sites on the web. Kudos to the Daily Camera on their new site. If you're planning to relocate to Boulder, add the Daily Camera to your list of sites to visit regularly. It has great local coverage, interactive features, and is widely read in Boulder. I like the high resolution slide shows. They're reaching the quality of what you might find from the New [...]
Blogs are Conversations
by Osman Parvez Why blog? I've pondered this question before and I still feel strongly about my earlier response. Yet sometimes people ask me this question and seem puzzled by my response . When I found the Economist pondering the question too, I knew it time to revisit the issue. The Economist, in The Invisible Hand on the Keyboard (Aug 3rd, 2006), noted "Like millions of others, economists from circles of academia and public policy spend hours each day writing for nothing" and "Time spent on the internet could otherwise be spent on traditional publishing or collecting consulting fees. " [...]
Best Place to Live? Fort Collins, Colorado
by Osman Parvez Hmm... A few months ago, Louisville, CO was rated as the Best Place in America to Raise a Family. Now, Fort Collins, Colorado is ranked the Best Place to Live according to CNN and Money magazine. Well, I guess it's not a secret that the Front Range as a whole is one of the most attractive, enjoyable place to live in the country. The accolades just keep rolling in. According to the CNN's Money Magazine, Great schools, low crime, good jobs in a high-tech economy and a fantastic outdoor life make Fort Collins No. 1. Situated 5,000 [...]
The Basics of 1031 Exchange
by Osman Parvez The Basics of 1031 Exchange There nearly always seems to be some degree of confusion as to how these work. Here's an overview. What Is A 1031 Exchange? It's a process where sellers can defer capital gains tax on the sale of an investment property by reinvesting the proceeds in another property, provided certain requirements are met. These are also called "like-kind" exchanges. What Are The Benefits? By deferring capital gains tax on the sale of your investment property, you'll have greater capital for reinvestment. This may lead to a larger overall real estate portfolio and the potential for [...]
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 [...]
