15 Properties Worth Seeing [Get ‘Em Hot]
by Osman Parvez Did you miss me? I was traveling last week and with two separate negotiations in play, I just didn't have time to blog. It usually happens around this time of year. Blogging takes a backseat to active negotiations. Clients come first. Well, let's get to it. Fifty two new listings hit the MLS this week. I've sifted through them, thinking I'd struggle to find ten properties worth seeing. Surprise! I found fifteen. Ready to see them? Call me to arrange a showing at 303.746.6896 1825 Marine Street #18. [...]
Boulder House Inventory – Get it Hot [Osman’s Picks]
by Osman Parvez Wow, it's been a busy week. 53 listings hit the market in Boulder this week, 7 of which are already under contract. As I'm writing this, it's nearly 6pm on a Friday night. I've been a little busy negotiating on a contract and I still have to get my run in so I'm going to skip the usual Friday inventory run down. Instead, I'll give you only my picks. 790 10th Street - Start Working on Your 3Pt. Shot. Of the 53 houses hitting the market, 10 are worth seeing (and still available). These [...]
Boulder Market Slows, House Sales Drop 26% [Analysis]
by Osman Parvez Here's something no other Boulder Realtor will tell you. The Boulder market slowed during the 4th quarter of last year and dramatically hit the brakes during the 1st quarter of 2014. Take a look at the following chart. You're looking at the change in sales volume during the quarter vs. same period a year earlier for the City of Boulder. For houses, sales volume dropped 5% during 4Q13 and then fell a whopping 26% during 1Q14. For condos, the drop was less severe. Volume fell 9% in 4Q13 and then 7% during 1Q14. [...]
Thanks for Stopping By! [Analysis]
by Osman Parvez Ready for more disclosure, more transparency, more openness? Take a look at the following analysis from my Google Analytics account. You're looking at an analysis of web traffic data for House Einstein over a 30 day period ending yesterday, April 13th, compared to the same period a year ago. Maybe you've noticed... I've been working diligently on producing higher quality content for people interested in Boulder real estate and exploring new ways to drive traffic to this blog. I think the results speak for themselves. Overall visits are up nearly 17% and unique visitors are [...]
Fresh Listings, Get ‘Em Hot [Inventory]
by Osman Parvez The inventory shortage continues. Let's take a look at this week's fresh inventory hitting the market in Boulder. First, the numbers for the week of April 11, 2014. 47 Listings Hit the Market 8 Refreshed Inventory 41 Truly New Listings 9 Under Contract Already 16 Actually Worth Seeing (Osman's Picks) 22% under contract the first week. I'm available this weekend, if you'd like to see the fresh inventory first hand. Click HERE to download my analysis. --------- p.s. There is a lot more to see than what's brand spanking new and seller's are more reasonable when their listing [...]
The Job Market and Real Estate Prices in Boulder [Analyze This]
by Osman Parvez Sipping my coffee this morning, I found myself pondering the sustainability of rapidly rising prices in Boulder. Last year, the average sale price increased 11.2% for houses and 9.8% for town homes and condos. I ended up looking at unemployment charts. The job market and housing have a direct relationship in primary (not vacation home) markets. It's not difficult to fathom that to purchase homes, buyers need to be well employed. A couple of charts to consider: This chart above shows the unemployment rate in the United States (red line) compared to Colorado [...]
Understanding Prices in Devil’s Thumb [An Interesting Question]
by Osman Parvez A new client recently asked me about the sustainability of upwardly moving prices in Boulder. He was specifically interested in the Devil's Thumb neighborhood. It was an interesting question. Devil's Thumb is an attractive neighborhood in Boulder but do the fundamental economics of supply and demand support continued price appreciation? Given my investment analysis background, I'm probably more qualified than most Realtors to answer. If you're a regular blog reader, you know what happened next. I'm not about to answer by the seat of my pants. Although I've done several transactions in Devil's [...]
The Truth about Bidding Wars [What Your Agent Isn’t Telling You]
by Osman Parvez Note: This post is part the series, What Your Agent Isn't Telling You. ------------------- How's the market? Ask most Realtors and you may get an educated guess. Most of the time, they'll talk about their own business activity which can be highly volatile. I could tell you what the Boulder market "feels like," but I prefer to analyze the data before sharing my opinion. So I spent a little time this morning crunching numbers. It reveals a few surprising facts about bidding wars. Take a look. The chart above shows the relationship [...]
Fresh Listings – 3/21/14 [Get ‘Em Hot]
by Osman Parvez Ready for this weekend's showings? Here's the breakdown: 40 properties hit the MLS this week. 10 are worth seeing (my picks) 7 are already under contract 7 are relisted old inventory 21% of the truly new (not relisted) inventory went under contract within the week. One of those didn't even hit the MLS before it was under contract, a potential disservice to the seller (who knew how much the open market would pay?). Current Boulder inventory stands at 431 properties, 41% which are under contract. Here's a link to download this week's FRESH LISTINGS. --- Like [...]
Inventory Rises in Superior [Market Update]
by Osman Parvez Time for an update on real estate market conditions in Superior, CO via House Einstein Research. If you're not a subscriber, sign up HERE. It's the highest quality, most up to date research on Boulder area real estate available. No spam, no hand waving - just solid research. What's happening in Superior? Let's take a look. Superior Home Inventory Like most other markets in Boulder County, inventory is in short supply in Superior. There were 23 homes on the market last month, up 53% from last year but still 39% below the [...]
Dirty Data [Visualize This]
by Osman Parvez This post is mostly for the Realtors in the audience but it should also concern those who track real estate markets in Boulder and beyond. Back in January, I wrote an open letter to BARA concerning an data error in their statistical analysis. The chart below is a visualization of a problem with dirty data. IRES and Metrolist (METRO) provide MLS services for our region. Throughout Boulder County, IRES dominates the market (blue). In some locations, Broomfield most notably, Metrolist has a significant market share (grey). The data provided by the Boulder Realtor Association, [...]
Understanding Appreciation Rates [Analyze This]
by Osman Parvez Most of my clients are buyers and sellers of primary or vacation homes, but they still care deeply about their home's investment potential. Real estate is often the largest financial decision that most people make, it's not surprising that we'll sometimes delve into a bit of analysis. Boulder condos appreciated 9.8% last year, on average (the median price increased 6%). What about your condo? How about that property you are seriously considering buying? Did it appreciate 6-10% last year? The short answer is no. The long (real) answer is that it takes time [...]
This Week’s Fresh Listings in Boulder [Get ‘Em Hot]
by Osman Parvez Did you think I forgot about you, my dear blog readers? Of course I didn't! The weekend may be half over but there's still time to see some property in Boulder. Forty-eight listings hit the market this week. Here's the breakdown: Osman's picks: 13 Imaginary (not built yet): 6 Under contract: 7 Flips: 3 Refreshed: 7 If you exclude the imaginary listings and the refreshed old listings, 17% of new inventory went under contract within the first week of listing. Most of those had accepted an offer within two days. Now do you understand why [...]
Confidence Wins Bidding Wars [Analyze This]
by Osman Parvez The other day I took buyers to see an unlisted property (found on Zillow). One of the ways I help clients get a sense of market value is by seeing available property and helping them track sold prices. Developing a sense of market value will help my clients feel confident when we need to submit a strong offer quickly. Any delay because we're not sure about valuation could give room for a competitive offer to win out. Remember, the current market is inventory deprived and bidding wars are common. See Boulder is Desperate for [...]
Market Conditions in Louisville, CO [Analyze This]
by Osman Parvez It's time for an update on real estate market conditions in Louisville, CO. The following analysis is based on data through the end of February, 2014. To receive my regular research report, subscribe to House Einstein research. Click HERE. INVENTORY As with other parts of Boulder County, the big story remains the inventory shortage. Only 20 houses were on the market in Louisville last month, down 47% from the same period a year ago. SALES VOLUME 10 homes sold during the month of February, 11% more than last year. In a small market [...]
