The first time on the market in over 40 years. Unparalleled location with unobstructed Flatiron and back range views! Adjacent to open space and at the end of the road, you will find privacy and serenity. On the six acres you will find a beautifully landscaped yard, pastures and irrigated hay fields. The five stall barn is ready for your animals. The expansive ranch style home has 5,860 square feet including lower level and has been beautifully maintained but is ready for your updating. Large rooms, great views and an office with a private entrance. Three ditch shares included. This is truly an opportunity that doesn’t present itself often.
In a recent Seth Godin blog post he wrote “The only thing worse than losing an auction by a few dollars is winning one by a lot. All of this makes sense until it doesn’t. The “market” is very smart about any given moment in time, but not always particularly smart about the future.”
I think this quote rings true for our local real estate market (and many others around the country). The average buyer makes a number of unsuccessful offers and learns from each one what it takes to win in this market. It hurts to be close and it urges them to do a bit more next time. A more aggressive price, a waived inspection, increased earnest money, non-refundable earnest money, as-is… That’s what it takes in many instances right now. In that way, the market is smart right now. Buyers are learning and adapting. But is this sustainable? No. Are those values locked in? No. The stakes of the market have risen and a lot of buyers have gone all in.
April was a huge month for real estate in Boulder County! The statistic that I think most characterized the month was that 21% of all sales closed for 15% or more than the list price and15 sales went for more than 30% over the list price! 76% of the 426 sales sold for above list price. Needless to say, it’s very competitive and frustrating for buyers right now. See the slideshow for more detailed statistics.
All of this is set in environment where interest rates have increased by almost 2% over the last six months and the stock market has fallen by double digits year-to-date. So far, buyers who are in the process, seem to be committed to buying a home, even as their monthly mortgage obligation is rising significantly.
You’ll want to live here! Sharp townhome in Erie Commons that features high ceilings, nice upgrades, a beautiful kitchen with oversized cabinets/ granite countertops/ large pantry, a wide open floor plan, an attached two-car garage, a great front patio, back range views from the primary bedroom, an large upstairs loft that is great for an extra office or TV area and tons of storage. Don’t miss the 290 sq ft of additional storage off the garage (not in sq ftg). Wonderful location – 1 block from HOA pool area and Erie Library, Rec-Center and Park.
1015 Roxwood Lane Boulder, CO 80303 Listed for $599,000 Sold for $585,000
This is not your typical Boulder condo! Feels like a single family home. This ranch style attached home features both a front and back private courtyard and an oversized two-car garage. Inside you will find a flowing floor plan with two bedrooms, a corner fireplace, great indoor/outdoor living and a large storage/laundry room. Great east Boulder location in a residential area with easy access to The Centennial Trail. Tenant occupied, limited showing windows available. In good shape now but could be really beautiful with some strategic upgrades.
Another busy month in the real estate market. Inventory increased this month, but it is still 20% below last year and not anywhere near meeting the demand. In March 73% of all sales in Boulder County sold for a price in excess of the list price (up from 61% in February and 48% in January). The average sale price for all properties sold during the month was 7.3% above the listing price. When a property sold for above list price then the average sale was 11% above the list price. Astonishingly, 20% of all sales sold for 15% or more above the listing price. The highest premium paid was 42% above the list price. What all of this leads to is super-charged price appreciation and buyers scratching their heads. I’m seeing more and more buyers removing contingencies on their offers. Waiving the opportunity to object to a low appraisal has become commonplace. We are seeing buyers waive inspections altogether and waiving the opportunity to terminate in the case of their loan being denied. Basically they are taking a risk and putting their earnest money at risk early in the process. Despite all of the demand, sales actually decreased by 21% from March of last year.
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