Infographic: August 2014 Market Update for Martin Acres

For David’s interpretation of this month’s infographic, see his Market Update below.

Martin Acres - Boulder, real estate infographic

Below is a summary of the Martin Acres real estate market as of July 31, 2014.

  

Seven listings were listed in June and eight listings sold in July. Buyers are eating up the listings as quickly as they come on the market.

 

Sales are up and inventory is starved. There have been 9% fewer listings this year but 30% more sales! There are literally zero homes for a buyer to choose from. The 5 listings on the market are all under contract already.

 

Median price is hovering at 14% higher than last year and I expect to see that settle down a bit by December. We are almost certainly looking at double digit appreciation in 2014. Nobody is feeling that more than the buyers in today’s market. It’s a moving target and a Buyer will get discouraged if they look at what they could have purchased a similar property for only months earlier.

 

An interesting observation is that basements seem to not have appreciated as much this year as the small ranches with no basements have. This could be partly due to residual feelings from last year’s floods, or due to the fact that many of the basements which have come on the market have been on busy streets or didn’t show very well. Also it’s easier to overlook poor showing condition in a well-lit upper level than it is in a dark and dingy basement. Something else we are seeing is that it is easier for a buyer to decide to spend $450,000 when they can see that someone else purchased at that price last year. Even if last year’s sale was for a property twice the size. It’s a bit nerve-wrecking when you are buying a large remodeled home for a higher price than anyone has ever paid in the neighborhood.

 

 

David Lorraine

8z Real Estate

303-502-7823

David@8z.com

 

Real Estate for Real Life

 

 

12012 W 56th Cir: A Done Deal in Rainbow Ridge

12012 W 56th Circle

12012 W 56th Circle was just evaluated in the Rainbow Ridge neighborhood in Arvada. Was this a good deal? Our 8z Neighborhood Expert knows and dishes the scoop on this recently sold home.

 

Listed at: $389,000

Sold for: $383,000

 

This house sold right on target for what I thought it would sell for in relation to the community; it sold for within 2% of their list price (of $389,000). It was on the market for 14 days and had a 4% increase since it last sold on January 10, 2014. WOW that is so great!

 

This home is a two-story with the very familiar floor plan for this neighborhood with the large master bedroom with the fireplace. It has the nice main floor layout that circles around from front door to back door, its great for many purposes.

 

Need a market expert’s assistance? To see homes in the area contact 8z REALTOR Shelley Leyba Cale at shelley.leybacale@8z.com.

 

Have you viewed the home above? Do you agree with Shelley? Let us know! Please feel free to submit your comments below.

107 Aline Street, Louisville: A Bella Vista Review

107 Aline St was reviewed over the past few days in the Bella Vista neighborhood in Louisville. Read below for the additional info on this home!

 

107 Aline Street

107 Aline Street

 

The Specs:

 

Address:  107 Aline St, Louisville, CO 80027

Price: $695,000

Original List Date: 07/28/2014

Style: Four-Level

Year Built: 1974

Total Square Feet: 3,172

Bedrooms: 3

Bathrooms: 4

Location: Bella Vista

 

The Scoop:

 

 

You can tell that the owner clearly takes very good care of his home, it is very meticulously maintained! While this house is in a great location it is very dated, and if you combine the trilevel layout, dark wood accents, hollow dark wood doors, appliances, outdated kitchen and bathrooms, this house makes me want to go jump in my 1970′s Woody station wagon and drive away!

This house could be a great house for the perfect buyer that wants to update a house in Old Town to their specifications. Someone that wants a mature neighborhood, with a large back yard, that is close to downtown, trails and the community park.

 

 

While the price per square foot isn’t outrageous at $238, the average price per square foot in this area over the previous year has been more along the lines of $182.60 which makes this house more along the lines of $579,000 which would be an ideal price.

 

 

Perhaps staging and definitely reevaluating the price would make this home show better.

 

 

 

The Score:

Below are my overall rating for 107 Aline St, Louisville, CO 80027:

Layout/Floor Plan – 3

Finishes – 2

Condition – 2

Curb Appeal/Landscaping – 3

Neighborhood/Outdoor Amenities – 2

Overall Value – 2

 

The listing agent for this property is Dave Sutton with Staufer Team Real Estate. For additional photos, a list of inclusions and the details on the home’s design features, click here to visit the property’s profile on 8z.com: 107 Aline St, Louisville, CO 80027

 

Need a market expert’s assistance?  To set up a showing to see this home contact Jessica Charlesworth at: jessica.charlesworth@8z.com or call 303-579-8317.

 

Have you viewed the home above? Do you agree with our listing review? Let us know your comments below!

 

Field report on 6997 Indian Peaks Trail, Boulder, CO, United States



6997 Indian Peaks Trail, Boulder, CO, United States

This 3 bedroom, 2 bath, ranch-style house has 2,300 sq.ft. and is centrally located in the Gunbarrel Green neighborhood. It has a great size lot with mature trees abound. This home has huge potential and is perfect for someone looking for a project. This neighborhood has some multi-million dollar homes, so the sky is the limit in terms of making improvements. It’s a great candidate for popping the top and adding a second story. The home is livable as is and could be improved in phases. The kitchen, dining, and living rooms all flow into each other, creating a lovely great room. The bedrooms are all a decent size. The room configuration works well with the master bedroom on one side and the other rooms on the other side of the house. I see this house as one with lots of options and huge potential. If you’d like to see it or gather more information please call, text or email me at 720-203-7789 or Julia@8z.com


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Summer Social Success!

What a glorious way to end the summer! Northside neighbors old and new gathered at Keith Helart Park in Louisville on August 16 for s’mores, games and good company. Local band Finaleyes rocked the park as kiddos danced and adults chatted about the latest neighborhood news.

 

 

Thanks to neighbor Peggy Wood for organizing this. We heard many comments about how nice it was to just hang out and get to know the community a little better.

 

 

If you weren’t able to make it this year, there is sure to be a repeat next summer. Let us know in the comments below if you’d like to be added to the email list for news on next year’s picnic and real estate updates specifically for your neighborhood!

 

Meet Mike Hixon and the Lone Tree North Pulse

Lone Tree North Pulse header

My name is Mike Hixon, and I would like to introduce myself as well as our blog, the Lone Tree North Pulse. I am the Lone Tree North market expert for 8z Real Estate. I am a great source for community information because I live here now and because after living in an area for over 20 years, you can’t help but understand and appreciate the finer things and nuances of the area.  There’s no substitute for experience and years of deep rooted community pride.

 

Our family decided to move to, at the time, the Littleton area because of its excellent location and almost rural feel.  There was very little development in this area at the time, yet close to all the amenities and major highway access. We moved to the area in 1993.  My wife and I have raised two children in the Lone Tree area and continue to have tons of connections through friends and activities. This an extremely attractive area due to it’s locations to the Denver metro area.  Lone Tree is a seasoned area yet there continues to be constant new development, both residential and commercial.  From the newer Sky Ridge Medical Center, extended Light Rail system or acres of undeveloped property, Lone Tree has an extremely bright future.

 

I’ve launched Lone Tree North Pulse as a way to keep the current residents informed of what is happening in their community. This includes information to help current homeowners know what their home is worth, ways to make it more valuable, and to know what others in their neighborhood are up to. It’s also a forum for the community to have discussions about what’s happening around the neighborhood.

 

Keep up to date with Lone Tree North Pulse Facebook page or on the blog. If we haven’t already, I look forward to meeting you. And for those of you who are new to Lone Tree North, welcome!

 

Mike Hixon

Mke Hixon

 

 

 

August 2014 Market Update for San Mateo Knolls/Laurel Creek and Laurelwood

As your local 8z REALTOR and market expert, it is my pleasure to bring you this monthly update for San Mateo’s Laurelwood and San Mateo Knolls/Laurel Creek neighborhoods. Tune in each month for updated information about one of life’s biggest investments: your home. Or, even better, have it delivered right to your Inbox: 

 

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An Interesting thing happened over the last month in our local real estate market. Things actually slowed down a little, and for those of us in the industry, you could feel it happen. Suddenly homes were selling with fewer offers, or some actually did not receive offers on the scheduled offer date. This noticeable difference was in late July and heading into August, but it was there. As strange as this might seem, it is actually pretty normal for this time of year. Summer is coming to an end and families are either vacationing or gearing up for the beginning of school.

 

Let’s take a look at what did occur in July, both in our local area of Laurelwood and San Mateo Knolls/Laurel Creek and then in San Mateo overall.

 

This year in July, there were 4 new listings in our community and 4 closed transactions. Of the 4 new listings, 2 are now Pending and waiting to close escrow and the other 2 ended up cancelling. We don’t know the exact reason the listings cancelled, but typically it is due to the sellers not receiving an offer at the price they need in the time needed.

 

The 4 closed transactions in July were the 4 properties listed in June. 44 Live Oak is new construction overlooking Peninsula Country Club. It was listed at $1,994,677 and ending up selling for slightly less at $1,950,000 with an all cash offer. 3800 Kingridge was originally listed for $1,940,000 but after 3 weeks of not selling the price was reduced to $1,750,000. In 3 days it sold for $1,720,000. 3423 Del Monte St was listed for $1,375,000 and sold quickly for $1,525,000. Finally, 4212 Alameda de las Pulgas was listed for $895,000 and ended up selling for $885,000.

 

These sales indicate quite a difference from July, 2013. Last year there were 10 new listings and 9 closed sales. Demand was strong and drove prices up. That continued for the entire year. As mentioned in previous posts, an excellent way to compare prices from one year to the next with houses that can be so different is by comparing the average price per square foot paid by buyers. In Laurelwood, that number jumped by 29%, or from $614 per sq. ft. to $796. Keep in mind that the low number of sales can have a huge impact on the numbers. In San Mateo Knolls/Laurel Creek, that number jumped 17.7% from $545 to $642 per sq. ft.

 

Laurelwood Aug Update

 

Overall in San Mateo we saw very similar trends that happened in our local neighborhood. The price per square foot for the homes that sold this year went up to $624 from $574 last July. However, because of fewer listings on the market this year, the number of sales dropped from 108 last July to 90 last month. Total sales volume dropped from $96,021,675 last year to $77,715,944 in July 2014. The average sales price this year actually dropped in San Mateo from $897,399 last July to $863,510 last month.

 

The highest priced home that sold in San Mateo in July, 2014 was once again in San Mateo Park. 460 Midway Ave sold for $3,400,000. The least expensive home to sell in San Mateo in July was again a studio condo at 324 Catalpa St. This 390 square foot home is for adults over 55 and sold for $227,000.

 

It remains a great time to sell! Prices remain high as supply is very low. However, from a buying standpoint, things have improved as homes are starting to stay on the market longer with fewer offers coming in on most homes. Home prices are likely to start leveling off if this trend continues, so this might be a great time to be a buyer as well.

 

Please call me if you need any assistance in theis community or elsewhere in the San Mateo and Peninsula area. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the community. You can always reach me at 650.921.5621 or stuart.yoxsimer@8z.com. My website is stuartyoxsimer.8z.com.

Sucessful 5k Bulldog Mutt Strut

To all those Arvada Runner and exercise peeps out there. I ran the 5k Bulldog mutt strut on Saturday. It was their first annual run. I HIGHLY recommend this run as it was tough yet fun at the same time for only 25 bucks. Dogs are invited to Run with you…

 

The Arvada High School band played prior to us running and also played motivating music when we came through the finish line I felt like a super staarrrrr running through the band…lol

 

 

The route was From AHS up Ammons ( Killer Hill omg) to 72nd, west to Carr, then BACK up Carr hill and down Carr hill ( yesssss finally this was fun) – Downhill to 64th then east to balsam and back up a little hill to Arvada High School, running into the marching band.

 

 

So just a reminder that next year, I’ll remind everyone again because I can tell this run is going to become a popular one to support Arvada High School Cross Country Team.

 

 

1461 Cherrywood Dr, San Mateo: A Laurelwood Review

1461 Cherrywood Dr was reviewed over the past few days in the Laurelwood neighborhood in San Mateo. Read below to find out more about 8z Real Estate’s take on the listing!

 

1461 Cherrywood Drive

1461 Cherrywood Drive

The Specs:

Address: 1461 Cherrywood Dr, San Mateo, CA 94403

Listed at: $1,449,000

Bedrooms: 6

Bathrooms: 3

Total Square Feet: 2,610

Location: Laurelwood

 

 

The Scoop:

This is a nice large family home, typical of what you will find in Laurelwood.  With 4 bedrooms and 2.5 baths it is ideal for a family moving into the area looking for a great neighborhood, easy freeway access and close to shopping.

 

Although the house is in move-in condition, it could use some freshening up, as some of the characteristics of the home feel very 70′s still. It was built in 1976. Downstairs has a nice open floor plan with the dining room elevated and separated from the living room by a railing. The kitchen is updated and opens to a large family room area with access to the rear yard.

 

All 4 bedrooms are upstairs, which is nice for many families, unless you need a room down for an aging parent or other reasons.  However, they are decent sized rooms and with modern colors and carpeting could be made quite nice.

 

Like many of the neighborhood homes, this house has a 3 car garage which comes in very handy if you are like most of us and need additional storage plus your cars.

 

Ordinarily I would say this home is priced about right at $1,449,000.  However, because it could use some freshening up and because it is hitting the market at a slower time of the year seasonally, I think it would be better priced at $1,399,000.  I will keep an eye on it and let you know what it sells for.

 

 

The Score:

Below are my overall ratings for 1461 Cherrywood Dr, San Mateo, CA 94403:

Layout/Floor Plan: 4

Finishes: 3

Condition: 3

Curb Appeal/Landscaping: 4

Neighborhood/Outdoor Amenities: 4

Overall Value: 3

 

The property is listed with Mitchell Wong with Intero Real Estate Services. For additional photos, a list of inclusions and the details on the home’s design features, click here to visit the property’s profile on 8z.com: 1461 Cherrywood Dr, San Mateo, CA 94403

 

Need a market expert’s assistance? To schedule a viewing for this home, check the status of this listing, or see other homes in the area contact 8z REALTOR Stuart Yoxsimer at stuart.yoxsimer@8z.com.

 

Have you viewed the home above? Do you agree with our listing review? Let us know! Please feel free to submit your comments below.