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, [...]
Reg Z – Impact in Boulder?
by Osman Parvez On January 10, the new Qualified Mortgage Rule went into effect. Created under Dodd-Frank, the rule tightened lending standards in exchange for increasing lender protection from liability. In theory, this should allow easier securitizations - important as the Fed kills off its quantitative easing programs. On the ground here in Boulder, overall sales volume dropped 13.7% since the rule went into effect (chart) but sales of $1MM+ properties has continued at the same pace as last year. From a Loan Engine Keeps Humming (WSJ): Many in the mortgage industry worried that the "qualified mortgage [...]
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 [...]
March Comes in Like a Lion [Fresh Listings]
by Osman Parvez $37,000,000 of inventory hit the MLS in Boulder this week; 59 town homes and condos, for a total selection of 361 properties. Here's how it breaks down: 29 new houses 30 new town homes and condos 13/59 new inventory already under contract (22%) 149/361 total inventory under contract (41%) My review with some notes (and picks!): UPDATE: I don't like how the embed is dragging the page down. Here's a link to download the PDF directly. --- Like this analysis? Subscribe to my research. Want to meet me in person? [...]
Buy on the Rumor, Sell on the News [Coming Soon]
by Osman Parvez The feeding frenzy over new listings in Boulder reminds me of my equity research days, when the firm's traders would buy on the rumor and sell on the news. The whisper, as it was called back then would fuel all sorts of speculative activity. Speculation was never my thing (I was on the research side) but it was fun to watch from the sidelines. Anyway, here's a whisper for you. I was checking out a used bicycle for sale (a full suspension 29'er, if you're curious) and I heard of a luxury house [...]
Weekend Plans? Let’s See Some Houses [Fresh Listings]
by Osman Parvez 32 listings hit the MLS this week and three are already under contract. About half of the available listings are actually worth seeing, in my opinion. If you're interested in showings via yours truly, call me at 303.746.6896. Here's the rundown with some commentary: Update (3/12): I don't like how the embedded document is dragging the view around. Here's a link to download the PDF directly. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or [...]
New Listings for Valentine’s Weekend [Get ‘Em Hot]
by Osman Parvez Still trying to impress your sweetie this Valentine's Day weekend? Take her (or him) shopping for that dream home. Inventory is finally rising in Boulder but the most desirable properties are going under contract VERY quickly. To point, fifty-nine shiny new listings hit the MLS during the past two weeks. About a third are already under contract. The median asking price of the new listings is $470,000 for a 3 bedroom, 3 bath luxury condo. The lowest price is for a 1 bedroom affordable unit at the Peloton at only $125,000. At the other end [...]
Boulder Real Estate Gains 11.2% [Analyze This]
by Osman Parvez Driven by low mortgage rates and scarce inventory, the average price of single family detached houses increased 11.2% last year. The median increased 8.4%. It was a good year to be a Boulder homeowner. Of course, this doesn't mean that the typical Boulderite suddenly found themselves with an extra $50K in their pocket. It also doesn't mean your home appreciated 11.2%. Market conditions vary by price range, location, property type, design, and condition. Consult your neighborhood real estate expert if you'd like an analysis of your home's current market value. Additional Reading Volume Spikes in Boulder [...]
Fresh Listings [Get ‘Em Hot]
by Osman Parvez As expected, several of last week's listings are already under contract. Snooze, ya lose. Here's a look at this week's fresh listings, perfect for a showing this weekend. Call me if you're interested in taking a look. 303.746.6896. Oh, and don't forget your snow boots. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at 303.746.6896.
This Week’s Listings + Comments
by Osman Parvez Ready for your weekend showings? 29 listings hit the MLS this week in Boulder. 8 are already under contact, 7 are old inventory from last year, leaving 14 shiny new listings for you to consider. Here's a link to the full 29 listings that hit the MLS -> LINK Call me at 303.746.6896 for questions or to schedule a showing. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at [...]
Fresh Boulder Listings, Get ‘Em Hot
by Osman Parvez Happy Friday, Boulder. Here's what hit the market this week plus a few ramblings by yours truly. Fresh Listings, Get 'Em Hot 25 properties entered the Boulder Real Estate Market this week. 6 were actually old, refreshed listings, leaving 19 fresh properties. Here's a link -> Fresh Boulder Listings. 3 of the 19 are already under contract. I know it's only mid January but desirable properties go quickly. Seriously, you can't wait until the weekend. "New listings in this market? It's like throwing fresh meat to a pack of wolves." [...]
Psst… Pocket Listings [Get ‘Em Hot]
by Osman Parvez I know of several properties that will come to market this spring. Contact me for a sneak peak. What's that, you say? A Pocket Listing? Why would someone do a pocket listing? What's with all the secrecy? The answer is often personal or professional. Maybe the seller is not quite ready to alert neighbors, coworkers, friends, and family. In other cases, the seller wants to undertake repairs prior to listing or they wish to time the market for peak absorption (i.e. wait until the market heats up). By the way - when I represent [...]
Pssst… Shop My Buyers and Sellers
by Osman Parvez Thinking about selling your property? Before you call a Realtor, consider shopping my active buyers and sellers. If there's a match, I can save you thousands on commissions. If any of the following is of interest, call me directly at 303.746.6896. Click HERE if you can't see the document above. --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at 303.746.6896.
Fresh Listings, Get ‘Em Hot [Featuring Miami Vice Decor]
by Osman Parvez In the last few blog posts, we looked at recent sales at the high end and the entry level of the market. Now let's look at fresh listings in Boulder, with comments by yours truly. Since the beginning of the month, 10 brand spanking new listings have hit the market (not refreshed old inventory). After only a week, 3 are already under contract. Yikes! Take home message: We're still experiencing an inventory shortage. The best homes will attract buyers immediately and you can't wait to see fresh inventory. If your buyer's agent isn't responsive, find one [...]
Seriously, Which Floor Should I Buy? [Analysis]
by Osman Parvez Is a top floor worth more than a bottom floor? Of course it is - but how much more? How about 21%? That's the peak price difference between top and bottom floor units at Aspen Grove, a popular Boulder condo development. At the moment, I have two clients interested in buying units at Aspen Grove - prompting this analysis. One wants a condo for investment purposes. The other as a personal residence. I've advised both to consider only 3rd floor units. Here's why. Show Me The Numbers As my clients know, I [...]
