Commission Contract Changes for 2022
Contract changes for 2022 have been released by the Colorado Real Estate Commission. These won't take effect until January 1st. Click the link below for an initial review of some of the important changes to the Contract to Buy and Sell, and their impact to buyers and sellers. LINKNote: Clean and redline versions are available HERE. 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 [...]
Buyers, Start Your Engines
And... we're back. Governor Polis's Safer at Home order will once again allow in-person real estate showings in Colorado, effective May 1st. We anticipate a flood of new listings to hit the Boulder real estate market between now and next week. Accordingly, 4894 Curie Court is back on the market. For buyers seeking house-like functionality, a great location, and lock and leave lifestyle - it's a great choice. House Einstein's showing protocol: 1. Showings require approval by the listing agent. No automatic approvals. No "go and show." 2. Only prospective buyers who are ready, willing, and able will be approved. [...]
The Show(ings) Must Go On!
Key takeaways from Scott Peterson, General Counsel of the Colorado Association of Realtors (CAR). - The current stay at home order expires Sunday, April 26. The Safer at Home order takes effect takes effect on Monday, April 27. CAR will provide the Governor's office with the following requests: 1. To allow for scheduled listing appointments, in-person with prospective buyers, sellers, tenants. Preliminary meetings via internet video is encouraged. 2. The ability to place lock-boxes and real estate signage. 3. Virtual and still photography. 4. Showings scheduled and private, with no more than three people allowed inside a residence at any one time. [...]
No Showings Until Further Notice? [Latest update from CAR]
Here's an update on what's happening with real estate and Coronavirus shut-downs in Colorado. 1. Appraisals and closings are critical services. 2. Home inspections and final walk-throughs are allowed, once there is a contract in place. 3. In-person showings and open houses are not essential services, these activities violate public health orders. 4. Activities that encourage non-essential travel or asking residents to leave their homes for showings increases public exposure. Is there a work-around? How long will this continue? If you're thinking about buying or selling a home in Colorado, seek competent advice from your professional Realtor. Osman Parvez is the [...]
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 [...]
Land Swap: CU South for CU North?
At last night's Council meeting, staff revealed they are in discussions with CU for a land swap. This citizen inspired idea means that instead of investing tens of millions to re-engineer the flood plain, CU will trade mostly swamp land for nice, dry acreage (with a pretty view) in the Planning Reserve. Of course, CU South is not just swamp land. It's de facto open space, used by dozens of people every day to run, walk, and exercise their dogs. The wetland areas are also home to abundant wildlife. It's a scenic part of Boulder, although not on most trail [...]
Impact of Boulder’s New Co-Op Law
by Osman Parvez ---- At 1am this morning, a bleary-eyed Boulder City Council approved the new co-operative housing ordinance by a vote of 7-2. It was one of the most contentious real estate related issues to face Boulder in recent years, probably the most since Compatible Development was passed nearly 8 years ago. Boulder needs more housing supply. The way forward is to selectively allow for higher density while maintaining the character of our existing neighborhoods and quality of life. No easy trick. The new measure contains a litany of rules to establish a co-op, as well as some [...]
Your VOTE is important! NOW is the Time.
Hey Boulder! Don't forget to vote. Boulder's future is on the line. Ballots are due tomorrow, November 3rd. It's too late to mail, you must drop it off. Polling locations are HERE. Bill Moyers Essay: Your Vote is Important -- Here's Why (2008) from BillMoyers.com on Vimeo.
Thoughts on #300 and #301
by Osman Parvez ---- In recent years, I've tried to avoid political commentary on this blog but the incredible volume of misinformation that has been spread on ballot #300 and #301 and the importance of these initiatives warrants a response. A few weeks ago, organizers and their opponents gave my local Rotary club a short - and very respectful - live debate over these issues. It was very educational. Here are my conclusions. I'm voting YES #300. The 10% and then 50% threshold is a reasonable mechanism for citizens to weigh-in on a planning process that has disenfranchised [...]
Tesla’s New Household + Utility Grade Battery, Impact to BOULDER [Municipalization]
by Osman Parvez ---- Tesla is set to introduce home and utility-grade batteries on April 30th. As costs plummet, cheap storage will likely be disruptive to the existing model. Yet here's Boulder Council, holding secret meetings and forging ahead with plans to acquire an ancient distribution network. I have nothing against a Municipal utility. Local control feels good, even though we're ignoring some of the risks. It's just becoming increasingly clear that taxpayer resources might be better spent subsidizing household and business level production (and soon storage) than paying lawyers to fight over Xcel's Model-T era distribution assets. [...]
What’s an Egress Window?
by Osman Parvez The other day, I took a buyer to see a house in Boulder. It was listed as a six bedroom house and two of the bedrooms were in the basement. Here's what they looked like: The windows in the basement bedrooms wouldn't comply with code. In other words, two of the six bedrooms in the house are "non-conforming." The listing description doesn't mention it. Here's the issue. In a fire, basement bedrooms without egress windows are a deathtrap. Boulder uses the International Residential Code which defines an egress window as follows. IRC egress window requirements (2012) [...]
The Impact of the Expanded Smoking Ban in Boulder
by Osman Parvez City Council passed an expanded smoking ban last night. Effective March 19, smoking will be banned at all Parks and Recreation and Open Space & Mountain Parks lands, all multi-use paths and 25 feet on each side of the paths, 25 feet from all transit stops and building doorways, outdoor seating areas at restaurants or taverns, the downtown Boulder Business Improvement District, the Boulder Civic Area, and the area surrounding Boulder High School. A map of the entire downtown Boulder smoke-free area is below. The ordinance prohibits smoking and using e-cigarettes or electronic smoking devices. Violators will be subject [...]
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. [...]
The Risk of Municipalization [Due Diligence]
by Osman Parvez Ever since the movement began to create a municipal electric utility in Boulder, I've received a steady stream of emails from concerned clients. From a real estate investment perspective, the size and activities of local government have become an increased area of risk. Comprehensive due diligence mandates that you understand the risk before the investment decision. After studying the issue for some time, here's my opinion: Municipalization feels good but lacks economic merit. It's a slippery slope. My concerns: 1. Lack of Transparency It took a lawsuit from a Boulder resident for the City to release their [...]
The Sky is Not the Limit | A History of Boulder’s 55′ Height Limit
by Osman Parvez Close your eyes. Imagine what Boulder would look like with 300 foot buildings stretching from downtown to 33rd street. Believe it or not, once upon a time, Boulder City Council was seriously considering allowing this to happen. a future that didn't happen in Boulder In November 1967, CU law school student Ruth Wright wrote a seminar paper called "History of Height Control and Environmental Aspects." It sparked a movement which led to the passage of an amendment to the city charter limiting the height of buildings to 55 feet. The amendment saved historic buildings in [...]
