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 The sensational headline was about the number of listings that have been withdrawn during the past two weeks, based on an analysis from the Denver Metro Association of Realtors for 11 counties. The article states that hundreds of listings have been withdrawn from the market, but ignores the surprisingly high absorption rate during the past two weeks.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. [...]
What Happened to New Listings Last Month? [Video]
Is the market dead? Far from it. It's not even mostly dead. Surprise! Activity at the lower end of the market remained robust during the past two weeks. Here's the analysis... 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 of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as [...]
Boulder Market Update – April 1, 2020 [Analyze This]
Updates: 1. I know it's April Fools Day, but I don't have any jokes. If you're looking for a laugh, check out Nick Heath's #lifecommentary and Pub Quizes. He is hilarious. 2. You'll find a preliminary Boulder real estate market update in this Twitter thread. In short, closings were up for condos and town homes in March, down for stand alone houses. As we move into April, about 30% of inventory in Boulder is under contract.There were a bunch of broken deals (i.e. back on market) during the last two weeks of March, but it's unclear if it was more than [...]
Boulder Market Update – March 20, 2020 [Analyze This]
A quick video update on market conditions related to the Coronavirus. 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 of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE. Fresh Listings | [...]
Business and Boulder Real Estate Market Update – November 5, 2019 [Video]
--- by Osman Parvez ---- 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, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. ----
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 [...]
BOO! 1140 Edinboro Drive Preview [Watch This]
--- by Osman Parvez Desirable listings are usually available for only a few days in Boulder. You have to move quickly if you want a shot at it. Here at House Einstein, when our buyers can't make it to a showing, we go on their behalf. We video the property, upload the videos to YouTube, and share a private link. If the property is of interest, we schedule a follow-up call to discuss putting together an offer. Mostly, this service is for relocation buyers but sometimes our local clients are traveling or have other schedule conflicts. Although the market has [...]
Client Preview: 1003 9th Street [Video]
--- by Osman Parvez A potential client recently contacted me to ask about 1003 9th Street, a listing we featured about a week ago. I went ahead and created a video preview for them (below), a service we offer buyers who are relocating from other markets or otherwise can't easily be on the ground to see the property. It's not likely a great fit for this client, so I'm going to go ahead and share the video with you. In short, 1003 9th Street is a very attractive house given its generous size, elegant historical design and significance, plus a [...]
The Boulder Market Heats Up [Watch This]
- by Osman Parvez 45% of house sales in the City of Boulder sold for more than asking last month. Meanwhile, inventory of detached single family homes is currently down 22%, year over year. Buyers and sellers in this environment are under high pressure. Not having deep market knowledge on comparable sales, negotiation techniques, and deal norms can be costly. We've seen buyers grossly overpay for marginal property. We've also seen them not even get a seat at the bidding table. We've watched sellers of luxury homes leave hundreds of thousands on the table because they were given the wrong advice [...]
How to Protest Your Boulder Property Tax Assessment
by Osman Parvez ---- Property tax assessments have arrived and many are shocked at their new home values. I even got a few phone calls over the weekend from clients looking for advice on how to protest. If you're a past or current client, don't hesitate to reach out to me. I'm happy to provide appropriate comparable sales and guidance. A few years ago, I asked the Boulder County tax assessor to present at the Boulder Real Estate Meetup. If you have some time, this video will help you understand your tax assessment and how to best protest the [...]
Economy Slumps, Experts Predict Rate Rise in September
by Osman Parvez ---- Good news! GDP came in at 0.2% in the first quarter, far slower than the 1% consensus forecast. Why is that good news? Because the inventory shortage has been relentless on the front range, everywhere from Denver to Ft. Collins. Low supply and high demand has been driving up prices at very high rates, an unsustainable pace in my opinion. It's impossible to call the top of a economic cycle, but bad news might encourage some owners to sell into this still rising market. Am I cheering economic softness? You bet. Maybe we'll [...]
State of the City | Boulder [Watch It]
by Osman Parvez ---- Boulder unveiled it's State of the City video yesterday. Even if you've lived in Boulder for decades, it's worth watching to get a sense of our accomplishments, initiatives and future trajectory. My only comment is that the city seems to put a lot of effort into managing the message on issues such as municipalization and affordable housing. It's telling. -- The next Boulder Real Estate Meetup is TONIGHT January 22nd. Our topic is Best Practices for Bidding Wars. Learn more and RSVP HERE. --- Like this analysis? Subscribe to our client research report. [...]
Hitler Learns the Truth about Zillow
by Osman Parvez --- Funny, this reminds me of a conversation I had earlier this week.
Why We Live Here
by Osman Parvez Here's Balcony Nine Media with a glimpse of Summer in Boulder. It was produced for the 2014 TEDx Boulder conference. THIS is why we live here. A Boulder Summer ...Up next? A Boulder Autumn
