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What's New at House Einstein?

  • Our listing at 810 43rd Street closed. The market was moving up in price so quickly this spring that we advised our seller to push for a longer closing to allow specific comps to close and better support the buyer’s appraisal. It sold for slightly over full list and we negotiated a post closing occupancy period for the seller, so that the move to her new home would be less stressful. 

    Funny story about this deal. I actually represented the buyers of her previous home. She was so impressed with our approach and professionalism, even though we represented the other side, she hired us as her listing agent. This was a feel good moment. One of the most encouraging things about the work we do are the referrals and repeat clients.
     
  • Sophie Kloor and I partnered to list a studio apartment in Boulder's Trout Farm last week. We chose to list with a Coming Soon status to allow the seller to button up a few last minute details. Showings began this past Friday. We had lots of activity over the weekend and it's now under contract. For investors or those seeking a minimal living space in Boulder, this unit's location just makes sense - it’s close to CU, Google, and Downtown Boulder. Plus there are fantastic and useful amenities included. 
     
  • On a personal note, my wife and I just attended the very first Community Café  at E-Town. For decades, Nick Forster's E-Town has been contributing to the Boulder and National music scene. This new event series combines delicious food from area restaurants with local artists. The music at this first Community Café was by Sound of Honey was provided by chefs Daniel Asher (Ash’Kara & River and Woods), Andy Clark (Moxie Bread Co) and Rainbow Shultz (the Jamestown Merc). It was a cozy event and I expect it to sell out going forward. Grab a ticket for the next one, if you get the chance. Check it out.

How's The Market?

Anecdotally, we’re starting to see the impact of rising mortgage rates here in Colorado. Although inventory levels remain abysmally low, I expect to see gradually increasing levels from this point through the rest of the year. This should mean flatter price appreciation and more selection for buyers.

Sellers, sensing changing market conditions, are also pushing to get their listings out the door faster. According to conversations in broker-only communities, many realtors are reporting an increase in the number of sellers contacting them to list their homes. 

The data, of course, doesn’t show this anecdotal information. Not yet, anyway. For example, only 105 new houses hit the market in the City of Boulder in March, 17.1% below average and 9.5% below March of last year (see chart). If word on the street turns out to be accurate, I think the market might take a bit of a breather later this summer. 


Important Reminder: This email is private communication from House Einstein to our clients, prospective clients, and colleagues. Private email is the only way we can share honest opinions about active listings, per the rules that govern the real estate industry. 

If you'd like to discuss your specific real estate needs with us, or the merits of any property on the market, the best way to reach us is to call 303.746.6896. We'd love to hear from you. 
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New to House Einstein's Fresh Listings? Check out our definitions - LINK.

FRESH LISTINGS
Our goal is to help you make a smarter real estate decision. If you'd like to schedule a showing or learn more, the best way to reach us is to call 720.310.5007.
Boulder FRESH: 2265 Knollwood Drive | $3.6M 
This Boulder subdivision is tucked behind Green Rock, directly south of Mt. Sanitas. For years, there has been a push to annex it into the city, and I expect one day that will occur.  2265 Knollwood is generously sized at 5,000 SQFT and is tastefully designed, albeit ready for an update.

Due diligence:  No fear for the wisdom of investing in a remodel - the location will easily support a sizable improvement budget. With that said, this is a very popular location with hikers and the Academy, once completed will add substantially to the congestion. 
NOTABLE SALE: 853 8th Street | $3.2M
Back in the day, I lived just a block to the north of this home. I can attest to the value of the location. More than twenty years later, it’s still my favorite neighborhood in Boulder due to its proximity to Chautauqua and downtown, plus reasonable distance from the Hill. 

Behind the unassuming exterior of 853 8th Street, you’ll find a tastefully modernized interior and private outdoor entertainment space.

Deal notes:  853 8th street is an attractive home and location, but the room count is a bit on the low side and the house is only about 2,900 SQFT.  I have to admit, I didn’t expect this one to go for more than list. Mr. Market proved me wrong. It was under contract the day it hit the market and closed a few weeks later for about $500K over list. 
Denver FRESH: 3238 Zuni Street | $2.8M 
As of this writing, no photographs have been provided of this newer three-story home in LoHi, but the description checks all the right boxes. Constructed in 2017, the home features three bedrooms, four baths, a two car garage, and about 4,000 T. SQFT.  It also includes an elevator, which should future proof the investment.  Most importantly, it's in a stellar location.  If you're shopping in Denver, put it on the show list. 
NOTABLE SALE: 906 Arkansas Mountain Rd | $2.1M 
Located not far from my personal residence, this luxury mountain home was originally listed last summer for $2.3M.  We toured it for our clients and quickly realized it would need substantial updating. The floor plan also wasn’t conducive to families with younger children. We advised our clients to pass. Apparently so did everyone else, for it sat on the market from June through September, when the seller finally capitulated and cut the price to $2.15M.  Sadly, it was too late for the summer real estate season.  It sat on market throughout the winter and finally found a buyer this spring for $2.125M.  

Due diligence: Fire risk, of course, but also the home is at the end of an unplowed private dirt road.  Winter access could be challenging for those who aren’t used to mountain living. The home features a stunning perch, but that also means there is little yard space available.  
Boulder NOTABLE SALE: 750 S 43rd Street| $1.2M  
On the market for only a few days, this California Style bungalow attracted a lot of buyer interest and sold for more than list. Key features were the stunning remodel and open floor plan, plus walk out basement to the front. How often can you see Flatiron views from your basement?  You can in this house.

Market notes:  $1.2M is now the going rate for a well maintained, updated ranch with a full size basement in Majestic Heights and into Martin Acres.  
Our goal is to help you make a smarter real estate decision. Call 720.310.5007 for more information.
Louisville FRESH: 802 W. Mahogany Cir | $1.4M 
On paper, this is a great house and checks the right boxes on the wishlist for many Louisville home buyers. It features an adequate bedroom and bath count, three car garage, and was built in the 90’s. As of this writing, the listing is still in Coming Soon status, with few photographs provided. However, supposedly the interior is nicely updated. Schedule a showing soon. 

Due diligence: The home is on the corner of W. Dahlia, which violates my yellow line street rule. Being on a corner is fine, in fact it brings several benefits, but the yellow-line means a traffic engineer has decided it gets enough cars to deserve the separation.  In short, expect traffic. It's worth a look, but I would advise not entering a bidding war for this one. 
Boulder FRESH: 2727 Folsom Street| $300K
We helped the sellers acquire this studio a few years ago as an investment. They’re now eyeing other opportunities and asked us to put it on the market. During their ownership, our clients tastefully remodeled the kitchen. Trout Farm itself is an excellent development, constructed past the era of lead paint, and with useful amenities like a hot tub, pool, sauna, and gym. The location is in the sweet spot, about equidistant from Google, downtown, and CU campus and directly on a bike path.  

 
Intelligent real estate decisions are based on deep market knowledge. Call us at 720.310.5007.
Cover Image: Kyle Glenn
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4551 13th St Unit B,
Boulder, CO 80305
(720) 310-5007

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