Monthly Archives: March 2011

Boulder Neighborhoods 101

Boulder Neighborhoods 101

People choose Boulder real estate because of its proximity to the mountains, the views, the clean air, world-class trails, outdoor sports and a great place to meet people and raise a family. The neighborhoods; Dakota Ridge, Holiday, Wonderland Hill, Crestview, Silver Maple, Newlands, Whittier, University Hill, Martin Acres, South Boulder, Rock Creek (Superior), Louisville and Lafayette.

Dakota Ridge is bordered on the east by Broadway jogs northward from Lee Hill Road along the western border (the foothills open space) and goes north until it hits the open space plateau.

Dakota Ridge boasts good values in Boulder real estate, it offers a high quality of life and access to open space trails and road bike access. Only a short distance from the Uptown Broadway Shops and Restaurants. This part of town was a little dicey but has had a nice turnaround. The new shops, coffee shops and restaurants have added to the eclectic mix in this neighborhood. Can you say outdoor sports; Mountain biking, Road cycling, Trail running or go for a hike. Then settle in at Amante’s for an authentic Italian Espresso.

Schools in the area are Foothill Elementary and Centennial Middle.

The Holiday area is where the Holiday drive in theater used to be. The marquee still exists to this day just off of 28th St (Highway 36). Holiday is hip. Numerous green built homes, condos and mixed use dot the landscape. It’s a newer community so the landscaping is not extremely mature and lush.  Similar to Dakota Ridge for Amenities. New urban near Amantes and trail heads.  Outdoor lights are energy efficient low level emitting so the stars are numerous.

Schools in the area are Foothill Elementary and Centennial Middle.

The Wonderland Hill area is bordered to the west by the foothills and Broadway is the eastern boundary. The southern boundary is Linden. The north boundary is Wonderland Lake where the trailhead is located. Big lush trees, winding wide streets. Many older homes ripe for remodeling.  Many hidden trails and paths in Wonderland. Many homes built in the 70’s are being updated.

Schools in the area are Crestview Elementary and Centennial Middle.

Crestview area is east of Broadway east to 28th (Highway 36) Violet is the north boundary and Sumac to the south. Crestview typically has larger lots and mature lush landscaping. Older homes and some great renovations happening. Opportunity knocks with a larger lot. A quieter neighborhood with larger lots.

Schools in the area are Crestview Elementary and Centennial Middle.

Newlands is bordered a little north of Hawthorn on the north and extends all the way to Alpine to the south. Broadway is the eastern border and the western border is the foothills around 3rd and 4th Street.  Newlands remains one of the most popular areas and the prices show it. It’s a quick walk to Community Shopping Plaza, Ideal Market, Vic’s Coffee (don’t miss the Sunday afternoon live jazz), Radda Trattoria, Breadworks’ and many more shops and restaurants. North Boulder Park is great for winter time cross country. A path quickly forms when the snow flys.

Schools in the area Foothill Elementary and (Newly Renovated) Casey Middle.

If you have questions regarding this article any of the neighborhoods or have any questions about Boulder or would like information about Boulder real estate or Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.


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Boulder Real Estate Billion Dollar Deal Inked

Reposted by Michael Hughes article from the Boulder County Business Journal

Boulder, Colo.–Investment specialist ICP Financial has inked a $4.8 billion deal with an unnamed but large European bank to buy distressed properties and mortgage portfolios directly from American banks. ICP Financial describes its partner as a “Top 5 European bank”–a vague description, though if measured by assets, the top five European banks (according to thebanker.com) are France’s BNP Paribas, the Royal Bank of Scotland, Credit Agricole Group (France again), and HSBC Holdings and Barclays, both British.

Regarding the bank, ICP simply says, “They are global, have more than 50,000 employees, are well respected, and have nearly 125 years of banking experience.”

ICP Financial and its deep-pocketed banking partner plan to buy U.S. assets for between $5 million to $180 million a pop. The partnership, the company says, will enable it to leverage the financial fire power of its new backer to take distressed assets off the balance sheets of mid-sized American banks in trouble, so they can start increasing revenue.

Boulder, Colo.-based ICP Financial posits that there are still a lot of willing sellers among U.S. banks holding distressed commercial real estate. “In order to survive and thrive once again, [the banks] need to sell their distressed portfolio’s fast to raise cash, lend again, and avoid being seized by the FDIC,” explains CP Financial Managing Director Brad Wozny in a statement. “In certain cases, we may also arrange for these commercial real estate lenders to receive money in advance of a sale of their assets.”

Though ICP Financial hasn’t detailed its plans according to property type, it is probably looking at distressed multifamily assets, which have been trading in considerable volume in the United States lately. According to a recent report by Real Capital Analytics, in fact, distressed apartment sales totaled $7.8 billion in 2010, accounting for 23 percent of all investment sales in apartments, and well above levels of distressed sales experienced by other property types.

Moreover, RCA says, “the elevated level of distressed sales combined with an equal amount of loan modifications/extensions were barely able to keep up with in-flows of newly distressed situations. … The amount of unresolved distress rose [in 2010] by $2.3 billion to its current $37.9 billion.” In other words, there are still considerable opportunities out there for buyers interested in distressed multifamily assets.

If you have questions regarding this article or have any questions about Boulder, Boulder real estate or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Boulder Luxury Real Estate Sells

Posted by Michael Hughes

Sales of million-dollar homes and condos grew an average of 18.6% according to DataQuick in 2010. This is after several years of decline. With the Wall Street recovery people start feeling replete with cash again and the stock values have nearly doubled since the lows of 2009. When financial security increases people start buying homes and there are bargains to be had. As confidence soars million dollar homes sell. Boulder luxury real estate continues its’ bounce back.

In some areas home prices are increasing. There is a rebound underway and I am hopeful it will be sustainable and spread to other areas. In Boulder real estate between November and December 31st 2010 there were 39 homes above $761,000 that went under contract or sold. That is one every 42 hours! A good sign indeed. It does not necessarily mean good times are in store for the lower end remainder of the market. Always good to see any segment bounce back and it’s the middle of the market that would be the most beneficial.

The Boulder real estate market has been robust at many levels for buyers and I am starting to see a shortage of listings available at many bandwidths. Low supply, the same or a higher demand and you know what that means. To read the complete article go here.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Luxury Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Are you Chasing or Leading the Market?

Posted by Michael Hughes

Overpriced Boulder real estate listings don’t sell in this market. There’s no margin for error when selecting a list price. Price it too high, the market will pass you by.

Many sellers say; let’s test the market. What’s the harm in pricing high? You can always come down. If you price it high, you will end up with a lower selling price.

Given today’s market conditions, buyers are more cautious about home purchases and they are looking for value. There is more emotion involved in a home purchase than in most other business negotiations. Home buyers need to feel emotional about a property before they make an offer. Buyers are concerned about overpaying in a soft market. It’s hard for them be enthusiastic enough to make an offer if a listing is priced too high. A listing that looks great to them at the right price will not be appealing if it is overpriced.

Overpricing your home will get you this:

  • Little to no showing activity. Studies have shown there is a direct correlation between the showings a listing receives and time it takes to sell.
  • Your home will not be shown to buyers if it’s priced too high
  • No offers will be made
  • Your house will sit on the market and buyers will start wondering “what’s wrong with it”

Your Boulder real estate is most marketable when it’s new on the market. So capitalize on this enthusiasm by presenting a great product that stands out at the right price. Lead the market, don’t chase it.

The market is always changing you may find that your list price may well be too high soon after your Boulder real estate is on the market. Many sellers object to lowering their price too quickly. They’re afraid they’ll leave money on the table. However, the best time to lower your price is as soon as you discover that the price is high. This may come in the form of feedback from potential buyers and Realtors. Feed back is invaluable. Leaving your home on the market too long at a high price can cost you money if prices decline. After your Boulder real estate is on the market, keep an eye on your competition. Are other homes around you selling as your home sits? Ask your agent to keep you informed about listing activity in your area. Find out which listings are selling and which aren’t. How does your Boulder real estate stack up in comparison? Great article on the 6 things that turn home buyers off and what sellers can do about it.

Price it right from the start. Lead the market, don’t chase it.

If you have questions regarding this article or have any questions about Boulder or would like information about Boulder Real Estate check out my website. You may also call or TEXT me 303-359-6627 or e-mail Michael Hughes at Fuller Sotheby’s International Realty in Boulder, CO.

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Filed under price, right price, sothebys international realty, Uncategorized