Boulder Real Estate

Boulder, CO Condos For Sale: A market review of the past 12 months (through September, 2011), indicates that the overall Boulder condo market has improved.  Using IRES data as of today (10/12/11), you might be surprised at the variety of condo/attached dwelling inventory available in the City of Boulder, with units ranging in price from under $100K to nearly $6M!  And with 433 attached units on the market today, IRES reports that 65 (or 15%), are under contract.  Feel free to review a statistical report that summarizes the general Boulder condo market activity over the past 12 months:

It's typical for there to be some seasonality in Boulder condo-market stats, but the data in the above report reflects some note-worthy trends.  Specifically, the 13.8% increase in the median price of a sold listing is encouraging, as is the increase in the average price/square foot, the decline in the MSI (months' supply of inventory), and the decrease in the DOM (days on market).  The combination of all these factors is reflective of an improving market overall; however, it is important to note that these results do not apply to every market segment.  Boulder luxury condos have not performed as well in the past year, with longer marketing times and higher inventory being common.

If you've been considering buying or selling a Boulder condo or if you would like more specific information on a particular sub-market in Boulder, feel free to contact us at 303-441-5647 or visit us online.

Louisville, CO real estate market update:  Louisville, CO has been one of the better-performing segments of the Boulder County real estate market recently.  Specifically, in the 12-month period ending on 7/31/2011, our local MLS (IRES) statistics indicate that over that period the number of single-family resale units for sale has declined 13.1%, the number under contract has increased 110%, and the number sold has increased 58.4% . . . all very impressive numbers.

On a percentage basis, these numbers indicate that the percent of Louisville's inventory under contract has increased 120.3%, the percentage sold increased 72.7% and the months' supply of inventory (MSI) was down 52.1%.  In fact, the month of July reflected the lowest inventory level of 3 months' for any time during the past year.

Review more Louisville and Boulder County Data here!

If you're looking for a home in the Boulder, CO area, Louisville might be a great community to consider!  For more information about Boulder and the surrounding communities like Louisville, contact us and we'll be happy to provide more information.

Coal Creek Canyon home for sale:  Only 8 miles from Hwy 93 and 72 in Golden, 593 Crescent Lake Rd. offers an easy commute to Golden, Denver and Boulder, yet feels like you're on your own private mountain retreat!  Bring all your toys to this wonderful custom home set on 1.79 private acres in Crescent Lake Estates.  Walls of windows bring the serene outdoor setting inside this sunny home featuring vaulted ceilings, multiple wrap-around decks with awesome views, private patios, large eat-in kitchen with new stainless-steel appliances and tile floor, wide-plank wood floors, a nicely-finished walk-out lower level with slate floor, large media room, private exercise room, 3rd bedroom and an office with private access to patio (poss. 4th).  Don't miss the 36 x 24 detached garage with 220 and the 2-story barn for even more storage.  Blacktop drive, too!

Visit www.boulderhomeresource.com for more details and a virtual tour, or call Phil today at 303-441-5647 for more information.  This home offers a unique combination of amenities and value and it's a place you'll be proud to call home.

If you're interested in other Golden, CO homes for sale, feel free to browse our website.

Pricing vs. pricing strategy: How often have we all discussed how important pricing is when it comes to listing and selling homes?  There's no question that under any set of market conditions, the process of arriving at an appropriate list price is critical.  However, not all home sellers want or need to sell their home instantly, which brings into focus the difference between simply pricing a home vs. having a specific pricing strategy.

The process of "pricing" a home is common in our business, but in my 26 years' experience I've learned that one size does not fit all.  Clearly, some sellers do need to sell quickly and there's an appropriate strategy for that.  There may also be some value in not simply pricing a property with a cookie-cutter approach, but developing a pricing "strategy" that takes into account market conditions as well as the seller's specific objectives.

A lot of brokers who list REO's already do this routinely; the bank has a hightened sense of urgency to sell the property and, many times, wants to sell the property quickly.  As a result, they may list the property at a price that they hope will accomplish that.  What I think many of us may be overlooking is that the process works the other way, too.  Take, for example, the seller who has a well-thought-out reason for not wanting to sell in 5 minutes: What is the appropriate pricing strategy for them?  Don't most CMA's result in a suggested price range?  Where in that range is appropriate for this particular seller?

This is obviously not about the seller who is in denial about their $300,000 home being worth $400,000; there is no effective strategy for that.  It just seems to me that with something as important as pricing is to our clients' success, we should be developing pricing strategies that are as unique and varied as the homes and the clients we represent.

If you're interested in selling a Boulder home, let's talk about the most effective pricing strategy for you and get your home sold!

New Listing in Boulder!  1520 Lodge Ct. (MLS 651774), is a turnkey home that simply screams "pride of ownership".  This 4-bedroom, 4-bath home in Brookfield is warm and inviting, features a main-floor master suite, an open floorplan, wood floors, upgraded kitchen with stainless appliances, a professionally-finished basement and a unique guest bedroom upstairs with a kitchenette - very functional and rare.  This home has been meticulously maintained and upgraded by the owners . . . and it shows!  Priced at $629,900, it is one of Boulder's best values.

The Brookfield subdivision is conveniently located just south of Arapahoe and 55th, near the Flatirons Golf Course, in Boulder, CO, and is known as a low-maintenance neighborhood as the HOA takes care of the front yards as well as all the common areas.

If you've been thinking about buying a Boulder home in this price range, you have to take a look at this one.  With all the features and amenities this home offers and with the low HOA dues of only $130/month, 1520 Lodge Ct. might be the perfect low-maintenance option for you!  Feel free to call Phil Boren at 303-441-5647 for a private tour, or visit us online for more information and a virtual tour.

Lake Valley Longmont, Golf Course and homes for sale:  Looking for a Boulder-area golf-course home?  The Lake Valley neighborhood in southwest Longmont, CO is a large neighborhood comprised of semi-custom and custom homes that generally surround the Lake Valley Golf Course.  Lake Valley homes range in price from about $400,000 to $800,000 and include some homes with stunning views.  Just about equidistant from the south side of Longmont and the north end of Boulder, this mature neighborhood has a lot to offer.

The neighborhood is known for its views and its access to open space, hiking trails, etc., and for the recreational amentities its residents enjoy.  The Lake Valley HOA is shared with the adjacent North Rim neighborhood, and provides a private swimming lake and sand beach, playground, as well as basketball and tennis courts.

The Lake Valley Golf Course was designed and built in the early 1960's, opened in 1964 and today provides 18 unique holes and scenery that span some 6,725 yards along with a beautiful clubhouse for its private, non-equity members.  If you've never played a round at the Lake Valley Golf Club, take a short drive north on Highway 36 from Boulder, or take the Diagonal Highway from Longmont to Niwot Rd. and go west.  You'll be pleasantly surprised at the quality of the course and the variety of Lake Valley homes for sale.

To browse the Boulder MLS inventory in Lake Valley, you can bookmark www.HomesinLakeValley.com.  If you have any questions about Lake Valley, feel free to contact us.

Downtown Boulder Condos For Sale: 2034 Pearl St., Unit 200 (MLS 647928) - If you've ever looked for a Penthouse condo in Downtown Boulder, CO, you've probably been faced with a dilemma:  either compromise on things like space, parking, or both . . . or pay more money.  With our newest listing on trendy Pearl St., you'll face no such dilemma!

This stunning Penthouse condo was just completed in 2010, with meticulous attention to detail and only the finest finishes.  Spanning 2 floors and offering over 2,900 square feet, this property is one of Boulder's finest residences.  With features like in-floor radiant heat, 10-foot ceilings, custom lighting and fixtures, 4 bedrooms including a main-floor master with its own washer and dryer hookup, 5 baths, plus a large office at the top of the stairs along with another laundry room, 3 parking spaces in the ground-level, heated garage, and elevator access, this is a rare opportunity to own a home in Downtown Boulder - not just another "unit".

The modern, open floorplan opens to extensive outdoor living areas on the main floor, and each bedroom has its own access to a private balcony with mountian and city views.  The kitchen has been appointed to satisfy even the most demanding cooks, with 2 Wolf ovens, a 6-burner gas range, a Bosch dishwasher, 2 sinks, custom cabinets, slab granite, a walk-in pantry, and a 48-inch Sub-Zero refrigerator.  There's also a separate dining room.

Check out all Boulder condos for sale at www.BoulderCondosOnline.com, or focus on the Downtown Boulder luxury condo market.  This new listing is a rare opportunity in Boulder, and is a place you will be proud to call home.  Call me for more information and a private tour today!

Selling a Boulder home: Are you commited or just dedicated?  Selling a home in any market today requires, in many cases, some sobering doses of reality.  I'm writing this post in honor of my college football coach, Lou Holtz, who is famous for many things - one of them being for his motivational quotes.  You can Google "Lou Holtz quotes" and read about many of them.  I've heard them all many times and have commited many of them to memory.

This one in particular relates pretty well to real estate, and specifically to the mindset necessary to sell a home in today's market.  As college football players at the University of Arkansas in the early 1980's, we were asked this question as it relates to winning.  The Lou Holtz version centered around the well-known breakfast menu of ham and eggs, and he would ask us if we believed we were dedicated to winning?  Believing we were, we answered in the affirmative (as if "no" was an option).  Coach Holtz would then ask, "OK, but are you commited?"  That's way too deep of a concept for 18-year-olds, so he goes on to explain the difference using the breakfast analogy:

"You see, men, make no mistake - the chicken is dedicated.  It takes a lot of dedication to do what they do, day in and day out.  But the pig . . . he's commited!"  That story always got a big laugh - more from freshmen than from seniors who had heard it dozens of times - but it drove home his point to us and I've never forgotten it.

Regardless of where you live, in today's real estate market it takes an extra level of commitment to be successful selling your home.  The "dedicated" sellers might say things like, "We'd like to sell", or "We want to sell, but don't have to", or maybe even, "We're in no hurry to sell . . ."  The "commited" sellers, however, take it to the next level and make it clear that they're prepared to listen and perform whatever task(s) are required, as well as price their home competitively in order to get it sold.  The former usually end up chasing the market down the hill; the latter usually sell and move on.

If you're thinking about selling a Boulder home, I hope this will help you make a solid commitment to the home-selling process and enable you to be successful in the face of what may seem like long odds.  For more information about Boulder real estate or more Lou Holtz stories, feel free to contact me.

Boulder Real Estate: Are we there yet?  If you've ever traveled with children, you've probably heard the "Are we there yet?" question more than once.  It's their sense of anticipation and lack of patience that tends to make them ask it over and over . . . and over.  A lot of home buyers in Boulder Valley seem to be asking a similar question these days, albeit in a slightly different way.  Their underlying question boils down to this: Is it the right time to buy a home in the Boulder real estate market?  For a lot of reasons, we think the short answer is, "Yes".  Let's look at some residential re-sale statistics from IRES for the City of Boulder over the last 12 months.  The first chart reflects the median price of a sold listing and of homes listed for sale; the second reflects the number of units over the same time period:

We have to remember that these are broad residential re-sale statistics and that results can vary if we break these numbers down by price range, but what these overall 2010 results reflect is that Boulder home prices have increased slightly over the past year, with the median price of a sold listing up about 2.5% to $549,450 in December.  It's also very interesting that the median price of active listings has decreased by almost 5% over the year, as sellers have tempered their asking prices.  So if median sale prices are up and asking prices are down, are buyers and sellers in Boulder getting closer together?  The data suggests that they may be - and that's a good sign.

In addition, the number of units sold over the period was up about 10%, but the number of units for sale - or the inventory number - increased by 29%.  It's easy to spot the seasonality that is built into our local market here in Boulder, but the increase in the number of Boulder homes for sale also contributed to the modest decrease in overall list prices.

In general, home prices tend to be a lagging indicator, meaning that they tend to react after sales volume - both up and down.  When we see increases in both prices and the number of homes sold (volume), it can be an indicator that it's a good time to buy.  When you couple this with the historically low interest rates we have right now, the indication becomes even stronger.

If you're considering buying or selling a Boulder home, contact us and we'll be glad to dig a little deeper into specific area(s) and price range(s) that you're most interested in and come up with a plan that is right for you.  Feel free to browse the Boulder MLS and read more about Boulder, CO at www.BoulderHomeResource.com.

Spanish Towers condos for sale in Boulder, CO (MLS# 645496):  We just listed a beautifully-remodeled Penthouse unit in Spanish Towers, right across from the University of Colorado campus!  This is a rare 3-bedroom 2-bath, two-story floorplan with a main-floor master bedroom, that rents very well and is very neat and clean.  Located on the top of the south tower on the 5th floor, this unit features a stunning contemporary kitchen with upgraded cabinets, stainless steel appliances, and sleek slab granite - very easy to maintain.  The kitchen opens to a large living room with a brick fireplace and access to the balcony.  New carpet, new paint, and remodeled (full) bathrooms are also outstanding features, and it has a rare in-unit washer and dryer that keeps residents from having to use to the main-floor laundry facility.  Finally, there's a large, private balcony that offers nice outdoor living space, and a beautiful mountain view.

Spanish Towers is conveniently located near the University, shopping, and the bus line, and also features a security entrance and elevator access.  Residents enjoy the private use of a year-round pool, fitness center, and clubhouse.  There's also a private courtyard and on-site parking.

If you're looking for a really nice, clean Boulder condo that's near CU and is move-in ready, you have to see this new listing!  Feel free to browse all Boulder condos for sale at www.BoulderCondosOnline.com, or see just Spanish Towers condos for sale.  For more information or a private tour, please contact us at 303-441-5647.