What’s Next for Boulder, Dumb Money & a Buyer’s Market | Podcast #131

WEBVTT
00:00:04.519 --> 00:00:08.759
Alpine Balsam. We paid $366 million for something
00:00:08.759 --> 00:00:13.500
worth $121 million. Was it worth it? Last week,
00:00:13.519 --> 00:00:16.219
after a Quora filing and months of pressure,
00:00:16.460 --> 00:00:19.300
the city finally released its full -cost reconciliation
00:00:19.300 --> 00:00:23.780
for the Alpine Balsam project. Open Boulder dug
00:00:23.780 --> 00:00:26.339
through it and published a white paper on what
00:00:26.339 --> 00:00:28.920
went wrong. Worth reading if you want the full
00:00:28.920 --> 00:00:33.079
picture. Here's the short version. For $366 million,
00:00:33.640 --> 00:00:36.719
The city got 144 units of affordable housing
00:00:36.719 --> 00:00:41.640
and 138 ,500 square feet of office space. What
00:00:41.640 --> 00:00:45.479
should that have cost? Housing. The city's own
00:00:45.479 --> 00:00:50.320
benchmark is 120 ,000 per unit. Times 144 units,
00:00:50.399 --> 00:00:55.000
that's 17 .3 million. Office space. It's cratered
00:00:55.000 --> 00:00:58.859
since COVID. Google paid 782 square foot in 2021,
00:00:59.179 --> 00:01:02.729
and Boulder County just paid... 355 square feet
00:01:02.729 --> 00:01:07.269
in 2024. There's currently 163 ,000 square feet
00:01:07.269 --> 00:01:10.670
of vacant new Class A office space sitting at
00:01:10.670 --> 00:01:14.810
the 29th Street Mall. Even using a generous $750
00:01:14.810 --> 00:01:18.750
per square foot estimate for the planning period,
00:01:19.090 --> 00:01:23.730
138 ,500 square feet equals $103 .9 million.
00:01:24.129 --> 00:01:29.750
Market cost? $121 million. Actual cost? $366
00:01:29.750 --> 00:01:34.430
million. Premium paid $245 million, more than
00:01:34.430 --> 00:01:38.450
200 % over market. And now the city wants voters
00:01:38.450 --> 00:01:41.269
to approve a $400 million bond for more capital
00:01:41.269 --> 00:01:44.230
spending without ever explaining how Alpine balsam
00:01:44.230 --> 00:01:47.329
ballooned into the largest cost overrun in city
00:01:47.329 --> 00:01:50.290
history. Before we hand over another $400 million,
00:01:50.530 --> 00:01:54.109
we deserve that explanation. Until we get one,
00:01:54.209 --> 00:01:58.870
I'll be voting no on ballot measure 2K. And that...
00:01:59.280 --> 00:02:02.280
was supposedly written by Terry Bernkick. And
00:02:02.280 --> 00:02:04.640
Terry, I apologize if I'm mispronouncing your
00:02:04.640 --> 00:02:08.979
name, but that is an Open Boulder board member
00:02:08.979 --> 00:02:13.360
who happens to have been a CPA with over 25 years
00:02:13.360 --> 00:02:16.379
of experience building financial teams, lived
00:02:16.379 --> 00:02:19.060
in Boulder for over a decade, ran for council,
00:02:19.240 --> 00:02:22.219
and of course is now on the board of the Open
00:02:22.219 --> 00:02:25.180
Boulder organization that just endorsed a slate
00:02:25.180 --> 00:02:30.300
of candidates. And with that... Welcome to the
00:02:30.300 --> 00:02:33.120
House Einstein podcast. This is House Einstein
00:02:33.120 --> 00:02:38.500
podcast 131, and I'm Osman Parvez. With me is
00:02:38.500 --> 00:02:41.180
Hamish Crabb. Hello, hello. Osman, you can look
00:02:41.180 --> 00:02:44.280
at that camera and, in theory, know that you'll
00:02:44.280 --> 00:02:47.580
actually be seen through that camera this time.
00:02:48.360 --> 00:02:51.080
What Hamish is alluding to is we had some technical
00:02:51.080 --> 00:02:53.939
difficulties in the last pod that we have, well,
00:02:53.979 --> 00:02:56.860
he has double and triple checked that. so that
00:02:56.860 --> 00:02:59.659
does not occur with this podcast. So if you happen
00:02:59.659 --> 00:03:02.400
to have watched us on video last week, this week
00:03:02.400 --> 00:03:06.120
will be, well, ideally will be much improved
00:03:06.120 --> 00:03:09.080
on the video front. The sound, I think you said
00:03:09.080 --> 00:03:11.560
was fantastic. Yeah, last pod's sound was great.
00:03:11.639 --> 00:03:14.560
And then right before the burn, that sound was
00:03:14.560 --> 00:03:19.180
not so good. So it's evolving progress, but ideally
00:03:19.180 --> 00:03:24.340
this is the best podcast yet. Yet, I say. They're
00:03:24.340 --> 00:03:25.719
only going to get better. Well, we don't know.
00:03:25.740 --> 00:03:27.439
We haven't even recorded the podcast. So this
00:03:27.439 --> 00:03:30.120
is what we're doing now. Great. Want to make
00:03:30.120 --> 00:03:31.740
sure we're on the same page. You're proclaiming
00:03:31.740 --> 00:03:34.000
it the best without us having actually had the
00:03:34.000 --> 00:03:36.560
pod. So now we're having the pod. And our mission
00:03:36.560 --> 00:03:40.020
for the House Einstein podcast is to entertain
00:03:40.020 --> 00:03:43.240
you. While we're sponsored by the House Einstein
00:03:43.240 --> 00:03:45.900
brokerage, our attorneys make it clear that for
00:03:45.900 --> 00:03:48.819
purposes of the pod, do not make any major decisions.
00:03:49.439 --> 00:03:51.500
or even minor decisions, financial decisions,
00:03:51.699 --> 00:03:53.620
real estate decisions, based on anything you
00:03:53.620 --> 00:03:56.560
hear in this podcast. If you are a client or
00:03:56.560 --> 00:03:58.400
prospective client of the brokerage, you can
00:03:58.400 --> 00:04:02.199
find us at houseeinstein .com. And with that,
00:04:02.219 --> 00:04:05.860
I want to review our docket of topics. This week,
00:04:05.879 --> 00:04:07.800
we're introducing a new segment. It's called
00:04:07.800 --> 00:04:09.800
Event Horizon. That's the first one we're going
00:04:09.800 --> 00:04:12.800
to be talking about. And in it, we are talking
00:04:12.800 --> 00:04:15.240
about what's coming up in Boulder that you might
00:04:15.240 --> 00:04:18.790
want to know about. And we've got quite a few
00:04:18.790 --> 00:04:20.990
of them this week. So hopefully it's a segment
00:04:20.990 --> 00:04:24.470
that you find entertaining. And even if you don't
00:04:24.470 --> 00:04:26.189
find it entertaining, we very much would welcome
00:04:26.189 --> 00:04:28.990
your feedback as the podcast continues to evolve
00:04:28.990 --> 00:04:33.310
and grow. It's not astrophysics, this Event Horizon,
00:04:33.550 --> 00:04:36.990
or quantum physics. Well, that's where the term
00:04:36.990 --> 00:04:40.089
comes from, right? That is what an Event Horizon
00:04:40.089 --> 00:04:43.689
is. It's the edge where light can no longer escape
00:04:43.689 --> 00:04:48.819
the gravity of a black hole. and becomes the
00:04:48.819 --> 00:04:51.759
event horizon where it turns black. That is exactly
00:04:51.759 --> 00:04:55.000
the limitations of our vision. And so that's
00:04:55.000 --> 00:04:58.180
what we'll be talking about. And in terms of
00:04:58.180 --> 00:05:00.000
our event horizon, we're only covering about
00:05:00.000 --> 00:05:02.899
a week. But I think this is, we're hyper local
00:05:02.899 --> 00:05:05.220
and we really would love to chat about some of
00:05:05.220 --> 00:05:06.740
the fun and interesting things that are happening
00:05:06.740 --> 00:05:08.819
in our community. And we think you might want
00:05:08.819 --> 00:05:12.079
to hear about them too. So hence the new segment.
00:05:12.259 --> 00:05:14.420
Yeah. And then the next one is the closing table
00:05:14.420 --> 00:05:16.720
topic. That's a recurring segment we've had for
00:05:16.720 --> 00:05:18.740
quite some time. This week, we're talking about
00:05:18.740 --> 00:05:21.319
the Pearl Street Arts District. It's a massive
00:05:21.319 --> 00:05:26.699
project that has the potential to radically transform
00:05:26.699 --> 00:05:32.180
the area around Boulder Junction. Again, we'll
00:05:32.180 --> 00:05:35.660
see. Let's just wait to get into it. Well, I
00:05:35.660 --> 00:05:37.620
mean, I've been tracking this since 05 with the
00:05:37.620 --> 00:05:40.980
Transit Village Area Plan and the train we were
00:05:40.980 --> 00:05:43.769
supposed to get by 2019. We're finally apparently
00:05:43.769 --> 00:05:46.129
getting a train, so it's exciting to see what
00:05:46.129 --> 00:05:48.449
will come. And we're going to go into details
00:05:48.449 --> 00:05:51.129
on what is expected to be built, what the proposal
00:05:51.129 --> 00:05:54.209
contains, and what some of the costs are for
00:05:54.209 --> 00:05:57.449
the new Pearl Street Arts District. And then
00:05:57.449 --> 00:05:59.889
we're going to hit our tales from the trenches.
00:05:59.889 --> 00:06:03.689
This week, we've affectionately titled this Dumb
00:06:03.689 --> 00:06:06.529
Money. And we're going to be talking about one
00:06:06.529 --> 00:06:09.149
particular deal that involved a seller losing
00:06:09.149 --> 00:06:12.199
over 20%. In a relatively short period of time.
00:06:12.279 --> 00:06:16.839
So yeah, that one could be a little painful for
00:06:16.839 --> 00:06:18.680
some people to hear, but I think it's important
00:06:18.680 --> 00:06:21.720
when you are being pushed by your agent to offer
00:06:21.720 --> 00:06:23.899
more than list. And we don't know if that was
00:06:23.899 --> 00:06:25.920
the case in this particular deal, but if it was,
00:06:25.980 --> 00:06:29.620
and it's pretty typical that some agents will
00:06:29.620 --> 00:06:32.980
encourage you to go guns blazing, even when market
00:06:32.980 --> 00:06:35.939
conditions or the property type, the desirability
00:06:35.939 --> 00:06:38.300
of that property in the future don't really justify.
00:06:39.319 --> 00:06:42.579
going that high so there's some there's some
00:06:42.579 --> 00:06:45.540
uh lessons to be learned from this week's tales
00:06:45.540 --> 00:06:48.139
from the trenches our market update we're going
00:06:48.139 --> 00:06:50.759
to hit what's been happening this month in september
00:06:50.759 --> 00:06:53.860
so this is sort of a late to mid -month update
00:06:53.860 --> 00:06:57.339
it contains some relatively shocking statistics
00:06:57.339 --> 00:07:00.139
so i want to really hammer home what's happening
00:07:00.139 --> 00:07:02.920
in this market as we head into the fourth quarter
00:07:02.920 --> 00:07:06.660
and buyers and sellers adapt their strategies
00:07:06.660 --> 00:07:10.110
to be Well, more reflective of actual market
00:07:10.110 --> 00:07:12.689
conditions and less reflective of the hype you
00:07:12.689 --> 00:07:14.970
hear from most real estate agents. And wishful
00:07:14.970 --> 00:07:17.829
thinking. And wishful thinking, right? Sales
00:07:17.829 --> 00:07:20.569
of the week is our next segment. We've got five
00:07:20.569 --> 00:07:24.290
properties on top, on top, on tap for this week.
00:07:24.569 --> 00:07:26.550
And I'm going to just go ahead and read you the
00:07:26.550 --> 00:07:29.449
addresses so that you are prepared for what's
00:07:29.449 --> 00:07:33.110
coming. 546 14th Street. That's in the Chautauqua
00:07:33.110 --> 00:07:36.790
neighborhood. 2959 South Lake Ridge Trail, that's
00:07:36.790 --> 00:07:41.810
in Lake of the Pines. 8835 Pine Cone Lane, that's
00:07:41.810 --> 00:07:44.370
in Louisville. And it's a new build, one that
00:07:44.370 --> 00:07:46.490
we want to contrast to a property that we were
00:07:46.490 --> 00:07:49.089
in a bidding war. Well, we almost were in a bidding
00:07:49.089 --> 00:07:52.990
war. We decided to, our clients decided to let
00:07:52.990 --> 00:07:55.209
it go. But it illustrates sort of an interesting
00:07:55.209 --> 00:07:58.709
dichotomy happening in the market between...
00:07:59.129 --> 00:08:01.750
older homes that have been updated and virtually
00:08:01.750 --> 00:08:04.050
new homes or brand new homes and some of the
00:08:04.050 --> 00:08:05.589
things people aren't thinking about when they
00:08:05.589 --> 00:08:09.230
think about that price delta between the updated
00:08:09.230 --> 00:08:12.350
older home from the 90s and the brand new house
00:08:12.350 --> 00:08:17.250
from 2026. 909 sunflower street in lewisville
00:08:17.250 --> 00:08:20.470
oh boy i think i may have confused which one
00:08:20.470 --> 00:08:23.269
is the contrast i think sunflower is the one
00:08:23.269 --> 00:08:25.970
we're contrasting to tyler not pine cone lane
00:08:26.620 --> 00:08:28.959
The Sunflower, that new build. Yep. Hold on.
00:08:29.040 --> 00:08:30.959
Sunflower is the new build, not Pinecone Lane.
00:08:31.019 --> 00:08:33.759
Pinecone is the Niwot one. Pinecone is the Niwot
00:08:33.759 --> 00:08:35.500
one. Yeah. Thank you. That one illustrates a
00:08:35.500 --> 00:08:38.200
different market contrast. And if you are thinking
00:08:38.200 --> 00:08:40.100
about, for example, buying a family -friendly
00:08:40.100 --> 00:08:43.980
home in Table Mesa, we've often had to drag our
00:08:43.980 --> 00:08:46.279
buyers to consider Niwot. Much smaller market,
00:08:46.419 --> 00:08:51.200
but often has better quality homes with some
00:08:51.200 --> 00:08:54.659
of the same school dynamics. larger lots more
00:08:54.659 --> 00:08:56.820
private all sorts of things that buyers might
00:08:56.820 --> 00:08:59.220
want to think about niwot is less available of
00:08:59.220 --> 00:09:01.960
course than table mesa which by itself is very
00:09:01.960 --> 00:09:04.059
unavailable but i think interesting yeah really
00:09:04.059 --> 00:09:06.159
important for buyers to consider it so sorry
00:09:06.159 --> 00:09:08.259
i got a little confused about addresses 909 sutton
00:09:08.259 --> 00:09:09.960
flower is the one that we want to contrast with
00:09:09.960 --> 00:09:13.759
tyler and then we have 2335 dartmouth avenue
00:09:13.759 --> 00:09:18.360
and in um high uh highland park yeah in table
00:09:18.360 --> 00:09:21.200
mesa that had its own bidding war And I happen
00:09:21.200 --> 00:09:22.700
to know a lot about that particular location
00:09:22.700 --> 00:09:25.360
because I used to live nearby and I have run
00:09:25.360 --> 00:09:28.039
hundreds of times on the trail that is behind
00:09:28.039 --> 00:09:29.779
that house. So I want to I want to touch base
00:09:29.779 --> 00:09:32.279
on that particular bidding war and whether or
00:09:32.279 --> 00:09:34.399
not it might have been worth it. For behind the
00:09:34.399 --> 00:09:36.799
scenes, you know, it usually will work independently
00:09:36.799 --> 00:09:39.679
and put together these the docket for today.
00:09:40.120 --> 00:09:43.639
And Osman had me read through the sales of the
00:09:43.639 --> 00:09:48.090
week picks for this podcast and. I'm very excited.
00:09:48.110 --> 00:09:50.509
I'm excited to hear about your take on Dartmouth
00:09:50.509 --> 00:09:53.889
Ave because I have some opinions of my own. Especially
00:09:53.889 --> 00:09:58.950
location dependent. Yeah. We have a segment we
00:09:58.950 --> 00:10:00.710
like to call shameless self -promotion where
00:10:00.710 --> 00:10:02.950
we talk about one of our buyers or sellers and
00:10:02.950 --> 00:10:05.669
what they're up to. And then we've got hot takes.
00:10:06.110 --> 00:10:08.070
And in this week's hot take, we're obviously
00:10:08.070 --> 00:10:11.110
going to be talking about the $400 million blank
00:10:11.110 --> 00:10:12.750
check that the city of Boulder would like you
00:10:12.750 --> 00:10:15.629
to write for them in terms of approving the ballot
00:10:15.629 --> 00:10:17.740
measure. We'll talk a little bit about this white
00:10:17.740 --> 00:10:20.799
paper. I don't know a lot about Open Boulder,
00:10:21.059 --> 00:10:26.740
although at a glance, their particular politics
00:10:26.740 --> 00:10:30.960
seems to resonate for me, which involves fiscal
00:10:30.960 --> 00:10:36.480
prudence and transparency, focusing on the, well,
00:10:36.539 --> 00:10:38.759
we'll get there in the hot takes. And then BVSD
00:10:38.759 --> 00:10:41.559
just passed its resilient schools proposal. It
00:10:41.559 --> 00:10:43.000
has a lot of people up in arms. We're going to
00:10:43.000 --> 00:10:45.379
hit on that. And then finally, we'll wrap up
00:10:45.379 --> 00:10:47.220
with our usual carve -outs. Hamish, what are
00:10:47.220 --> 00:10:48.919
you talking about this week? I want to talk about,
00:10:49.000 --> 00:10:51.659
I think misnomers is the correct term, but we're
00:10:51.659 --> 00:10:54.279
going to kind of talk a bit about the multiverse
00:10:54.279 --> 00:10:59.120
and universe. We won't get too woo -woo or too
00:10:59.120 --> 00:11:01.019
spiritual, but I think it'll be a fun conversation.
00:11:01.740 --> 00:11:05.860
And it's been here in the term universe used
00:11:05.860 --> 00:11:07.759
a lot on podcasts. And I was like, well, I thought
00:11:07.759 --> 00:11:09.379
everybody was kind of on the multiverse train.
00:11:09.720 --> 00:11:13.240
So that's to come. Well, carve -outs are an opportunity
00:11:13.240 --> 00:11:14.940
for us to talk about whatever we want to talk
00:11:14.940 --> 00:11:18.960
about. And typically it involves something that
00:11:18.960 --> 00:11:20.960
we're working on as a personal project or maybe
00:11:20.960 --> 00:11:23.200
some travel. And I'll be talking about Tastes
00:11:23.200 --> 00:11:24.840
of Fort Collins this weekend, which is, boy,
00:11:24.879 --> 00:11:26.320
quite the contrast from what Hamish is going
00:11:26.320 --> 00:11:28.559
to be bringing in in his carve -out. So hopefully
00:11:28.559 --> 00:11:30.480
we can hold that together with some sort of cohesion
00:11:30.480 --> 00:11:33.740
for you. And with that, I think it's time to
00:11:33.740 --> 00:11:36.559
jump into it. Let's get started. So what's coming
00:11:36.559 --> 00:11:39.860
up this weekend? All right. So we're into the
00:11:39.860 --> 00:11:42.100
event horizon. This is a new segment for us,
00:11:42.120 --> 00:11:43.840
as I mentioned before. So bear with us as we
00:11:43.840 --> 00:11:45.960
kind of stumble around it a little bit in the
00:11:45.960 --> 00:11:47.960
dark and hopefully it comes together for you
00:11:47.960 --> 00:11:51.860
as a listener. Que Mundo, Friday, 6 p .m. to
00:11:51.860 --> 00:11:54.399
9 p .m. is the first one on our list of things
00:11:54.399 --> 00:11:55.940
to talk about. So if you're looking for something
00:11:55.940 --> 00:11:59.519
to do this weekend, Que Mundo is a salsa band
00:11:59.519 --> 00:12:01.460
that's been around for a long time. I want to
00:12:01.460 --> 00:12:03.799
say 10 or 11, maybe 12 years they've been around.
00:12:04.899 --> 00:12:07.539
They perform at Band on the Bricks. They perform
00:12:07.539 --> 00:12:10.580
at other venues and they often host a performance
00:12:10.580 --> 00:12:13.059
at the St. Julian. And it's the type of thing
00:12:13.059 --> 00:12:15.220
where people will be dancing, will be drinking.
00:12:15.460 --> 00:12:19.080
The St. Julian is a very attractive hotel. They've
00:12:19.080 --> 00:12:20.879
been outside. They've also been inside. So I
00:12:20.879 --> 00:12:23.120
think likely they'll be outside given it's an
00:12:23.120 --> 00:12:26.299
11 -piece band. But always that's sort of weather
00:12:26.299 --> 00:12:27.899
dependent. So I guess we'll see. But if you're
00:12:27.899 --> 00:12:30.539
looking for something fun to do, Hamish, have
00:12:30.539 --> 00:12:32.480
you heard of Que Mundo? No, I haven't. I'm looking
00:12:32.480 --> 00:12:34.779
them up now. Apparently it means burning or setting
00:12:34.779 --> 00:12:38.129
on fire in Spanish. Okay. Well, that's great.
00:12:39.690 --> 00:12:42.169
It's a fun place to go. It's a fun event to go
00:12:42.169 --> 00:12:44.450
for a date on, right? Like if you have a special
00:12:44.450 --> 00:12:47.230
somebody and you want to go dancing and not feel
00:12:47.230 --> 00:12:50.929
intimidated, like this is pretty low key. Not
00:12:50.929 --> 00:12:53.590
everyone's salsa dancing, although for sure there
00:12:53.590 --> 00:12:55.490
will be salsa dancing people that are experts
00:12:55.490 --> 00:12:58.330
in the crowd, but there's no judgment at these
00:12:58.330 --> 00:13:01.090
types of events. And anytime I've seen Que Mundo
00:13:01.090 --> 00:13:03.230
and I've seen them quite a few times, it's been
00:13:03.230 --> 00:13:07.279
a fun. Usually we catch them by accident. And
00:13:07.279 --> 00:13:09.940
so seeing them coming up, this might be this
00:13:09.940 --> 00:13:12.100
might actually be my Friday night. So don't be
00:13:12.100 --> 00:13:14.200
surprised if you happen to see me in the audience
00:13:14.200 --> 00:13:18.259
with my beloved, because it is it is a fun experience.
00:13:18.340 --> 00:13:20.559
And she definitely loves dancing, even though
00:13:20.559 --> 00:13:23.539
I'm far from the world's best dancer. I was going
00:13:23.539 --> 00:13:26.320
to say we talk about music, fun events and all
00:13:26.320 --> 00:13:29.200
sorts of things going on in the segment. We both
00:13:29.200 --> 00:13:33.960
have a mutual salsa instructor. friend eric freeman
00:13:33.960 --> 00:13:36.220
yeah and that might come up at some point or
00:13:36.220 --> 00:13:39.320
he could even be a guest uh well i mean i'm not
00:13:39.320 --> 00:13:41.299
that close to eric anymore i have not taken one
00:13:41.299 --> 00:13:45.340
of his classes in at least 15 years oh yeah so
00:13:45.340 --> 00:13:47.000
i don't know even know if he would remember me
00:13:47.000 --> 00:13:51.720
but for sure he's a very um established instructor
00:13:51.720 --> 00:13:56.000
yeah well cool um yeah never heard of commando
00:13:56.000 --> 00:13:57.580
but you've seen him quite a few times at this
00:13:57.580 --> 00:14:00.399
rate so um now it's a name to kind of keep out
00:14:00.399 --> 00:14:04.779
for Our next one's BK Sherrod, and this is a
00:14:04.779 --> 00:14:08.279
young millennial comedian who is from Boulder,
00:14:08.399 --> 00:14:10.600
and he is performing at the Louisville Underground
00:14:10.600 --> 00:14:14.759
Friday at 8 p .m. And as somebody who shares
00:14:14.759 --> 00:14:18.039
some of his heritage as an Indian American, as
00:14:18.039 --> 00:14:21.820
somebody whose family hails from British India,
00:14:22.000 --> 00:14:23.919
we'll say, so we're not getting confused. My
00:14:23.919 --> 00:14:27.100
family is Punjabi, but I definitely would like
00:14:27.100 --> 00:14:30.500
to highlight more things that have a diverse...
00:14:31.300 --> 00:14:34.240
perspective on it and uh this comedian is up
00:14:34.240 --> 00:14:38.279
and coming he just i guess uh was you know the
00:14:38.279 --> 00:14:42.320
guy from super troopers uh the indian guy jay's
00:14:42.320 --> 00:14:46.179
i'm gonna mispronounce it but he he is a hilarious
00:14:46.179 --> 00:14:50.179
actor and comedian himself and and he um played
00:14:50.179 --> 00:14:52.779
his body double i believe in oh okay in this
00:14:52.779 --> 00:14:56.539
upcoming film so or upcoming pilot for for uh
00:14:56.960 --> 00:14:58.320
for one, I don't know if it's another, it must
00:14:58.320 --> 00:14:59.899
be another super troopers, but I'm not sure.
00:15:00.259 --> 00:15:03.179
So if I could see the body double, have you ever
00:15:03.179 --> 00:15:05.399
been to Louisville underground? Yeah. What is
00:15:05.399 --> 00:15:08.799
it? Um, it's a kind of a speakeasy type of situation.
00:15:08.899 --> 00:15:11.820
So there's a backdoor entrance through kind of
00:15:11.820 --> 00:15:15.039
an alleyway and, um, it's wicked. I mean, you
00:15:15.039 --> 00:15:17.059
can get in there through tilt, uh, pinball as
00:15:17.059 --> 00:15:19.919
well. Uh, if you need your, uh, accessibility,
00:15:20.080 --> 00:15:23.139
but, um, No, it's very cool. It's kind of a speakeasy.
00:15:23.139 --> 00:15:25.139
It's underground. The cocktails are really tasty,
00:15:25.220 --> 00:15:27.820
and they've got a nice little venue there. They
00:15:27.820 --> 00:15:31.440
had a great Gatsby night. I've done some comedy
00:15:31.440 --> 00:15:33.120
shows there and things, and the atmosphere is
00:15:33.120 --> 00:15:35.620
just really awesome. How big is the venue? Tight.
00:15:35.899 --> 00:15:39.440
Is it smaller than license number one? I don't
00:15:39.440 --> 00:15:41.139
know license number one. I'd say it's probably
00:15:41.139 --> 00:15:44.009
this office and a half. Okay. Yeah. So it's,
00:15:44.009 --> 00:15:46.029
it's pretty small. The license number one has
00:15:46.029 --> 00:15:48.190
a regular comedy night as well. And it's pretty
00:15:48.190 --> 00:15:50.309
intimate. You have to get, you have to book your
00:15:50.309 --> 00:15:52.529
table and you get like there's premium tables
00:15:52.529 --> 00:15:54.409
and ordinary tables and there's little benches
00:15:54.409 --> 00:15:56.509
where you're kind of propped up right and squished
00:15:56.509 --> 00:15:59.230
together. So it's a very tight feeling. And I
00:15:59.230 --> 00:16:01.610
kind of think that's the same thing at like at
00:16:01.610 --> 00:16:03.409
Louisville underground. I think so. Especially
00:16:03.409 --> 00:16:05.409
like a packed night. I've definitely been there
00:16:05.409 --> 00:16:06.909
on a lighter night and there's room and it's
00:16:06.909 --> 00:16:09.669
fine. But on a packed night, you're, it's kind
00:16:09.669 --> 00:16:11.809
of shoulder to shoulder. The atmosphere there
00:16:11.809 --> 00:16:14.070
is pretty dang electric. And if you're looking
00:16:14.070 --> 00:16:15.950
for this event, you'll find it on Eventbrite.
00:16:16.809 --> 00:16:19.289
KMundo is free. So there's no cover to go see
00:16:19.289 --> 00:16:22.230
KMundo, but I think it's probably a pretty minimal
00:16:22.230 --> 00:16:26.049
cover charge to go see BK Sherrod and support
00:16:26.049 --> 00:16:30.009
our local comedians. Yeah. And I guess now's
00:16:30.009 --> 00:16:31.970
a good time, as I need to mention, pretty much
00:16:31.970 --> 00:16:35.210
every subject or property or event that we cover,
00:16:35.350 --> 00:16:38.059
I will be linking it in the show notes. If you're
00:16:38.059 --> 00:16:39.759
listening to the audio -only podcast version,
00:16:40.000 --> 00:16:42.299
the best place for me to be able to link it is
00:16:42.299 --> 00:16:44.600
on our website. So in the podcast description,
00:16:44.860 --> 00:16:47.200
there will be a link to our website. The transcript,
00:16:47.440 --> 00:16:50.019
links, show notes, everything there. Excellent.
00:16:50.200 --> 00:16:52.279
Yeah. All right, Hamish, this is one you threw
00:16:52.279 --> 00:16:55.039
on here. Have you ever been to this? Yeah, I
00:16:55.039 --> 00:16:58.220
am. i have not been to the free day at the boulder
00:16:58.220 --> 00:17:01.139
reservoir but i've definitely been to the boulder
00:17:01.139 --> 00:17:03.279
reservoir quite a few times and they've i mean
00:17:03.279 --> 00:17:06.000
not recently anymore but they uh remodeled the
00:17:06.000 --> 00:17:08.400
building and it's actually really neat i vaguely
00:17:08.400 --> 00:17:12.039
remember working there at some point and um for
00:17:12.039 --> 00:17:14.920
me personally september 26th is when this event
00:17:14.920 --> 00:17:17.380
is it's a little cold to be swimming at the boulder
00:17:17.380 --> 00:17:20.720
res so if you want to i don't know sun bay there
00:17:21.390 --> 00:17:23.910
Just be by the beach, quote unquote. It's probably
00:17:23.910 --> 00:17:26.109
a good move. But yeah, free day at the Boulder
00:17:26.109 --> 00:17:29.289
Reservoir. September 26th. But here's the thing.
00:17:29.950 --> 00:17:32.349
So what I've heard about the Boulder Res, and
00:17:32.349 --> 00:17:34.670
I don't know if this is accurate or not, but
00:17:34.670 --> 00:17:38.609
what I've heard is that your permits for watercraft,
00:17:38.750 --> 00:17:41.230
including inflatable stand -up paddle boards,
00:17:41.390 --> 00:17:44.640
they basically disappear immediately. Yeah, they're
00:17:44.640 --> 00:17:47.339
like years out, I think. Well, is that true?
00:17:47.480 --> 00:17:50.039
I think sale permits are like five years out.
00:17:50.039 --> 00:17:51.779
You can actually book a permit five years in
00:17:51.779 --> 00:17:54.339
advance? I'm not sure. I'm like bookability.
00:17:54.460 --> 00:17:56.279
Well, we don't really know. Or Reddit, yeah.
00:17:56.380 --> 00:17:59.339
So if you actually know what the story is with
00:17:59.339 --> 00:18:02.180
the Boulder Res and watercraft permits, feel
00:18:02.180 --> 00:18:03.900
free to comment because we don't actually know.
00:18:04.099 --> 00:18:06.680
But I imagine that the free day doesn't mean
00:18:06.680 --> 00:18:09.319
free of permits. It means that... you still need
00:18:09.319 --> 00:18:10.960
your permit to be like, but they're not going
00:18:10.960 --> 00:18:13.140
to charge you for entry. This is for your beach.
00:18:13.240 --> 00:18:15.079
Yeah. It's free entry. This is for swimming.
00:18:15.220 --> 00:18:18.119
This is, yeah. Um, I know there's rental for,
00:18:18.160 --> 00:18:20.079
uh, kayaks and stuff. I had a friend that worked
00:18:20.079 --> 00:18:23.039
there. Um, you can get, I think kayaks and, um,
00:18:23.200 --> 00:18:25.359
you know, those tiny little plastic catamarans,
00:18:25.519 --> 00:18:29.319
um, those are rentable, but, uh, yeah, this is,
00:18:29.339 --> 00:18:31.259
this is for swimming the free day of the boulder
00:18:31.259 --> 00:18:34.900
res. All right. And, uh, yeah, September 27th.
00:18:35.519 --> 00:18:38.240
And then our own Boulder -thon is coming up on
00:18:38.240 --> 00:18:42.460
September 27th, which is a marathon, half marathon,
00:18:42.819 --> 00:18:47.220
a 10K and a 5K. This is one that I always laugh
00:18:47.220 --> 00:18:48.740
about because I haven't actually done the Boulder
00:18:48.740 --> 00:18:51.319
-thon. We should because we are runners, my wife
00:18:51.319 --> 00:18:53.900
and I. But typically we're doing something else
00:18:53.900 --> 00:18:55.920
this particular weekend, but it ends at the Pearl
00:18:55.920 --> 00:18:58.660
Street Mall. And the one thing that you'll notice
00:18:58.660 --> 00:19:00.900
on social media are all the people that are caught
00:19:00.900 --> 00:19:03.599
by surprise by the route and find themselves
00:19:03.599 --> 00:19:06.839
trapped or aggravated by traffic. So from an
00:19:06.839 --> 00:19:10.420
event horizon perspective, this is both an encouragement
00:19:10.420 --> 00:19:12.140
if there's still tickets available to go run.
00:19:12.359 --> 00:19:16.039
But if you're in town on the 27th, which is Sunday,
00:19:16.160 --> 00:19:19.420
right? Yeah. If you're in town on Sunday, plan
00:19:19.420 --> 00:19:22.960
ahead for traffic and possibly being boxed in.
00:19:23.480 --> 00:19:26.059
You may want to look at the route for the race
00:19:26.059 --> 00:19:28.900
and plan accordingly. But look, Boulder is one
00:19:28.900 --> 00:19:31.220
of the healthiest cities in the country. We have
00:19:31.220 --> 00:19:33.440
so many people that are into athletics and running
00:19:33.440 --> 00:19:35.880
is a big part of the culture. Cycling is another
00:19:35.880 --> 00:19:39.039
big piece of the culture and our homegrown races,
00:19:39.180 --> 00:19:41.579
including the Boulder Boulder and the Boulder
00:19:41.579 --> 00:19:44.680
Thon are colder. Boulder are cherished. Yeah.
00:19:44.720 --> 00:19:46.299
These are events that bring out the community
00:19:46.299 --> 00:19:49.019
and they're so much fun. So if you apps, if you
00:19:49.019 --> 00:19:52.809
happen to be. around for the boulder thon and
00:19:52.809 --> 00:19:54.369
i don't know if tickets are even still available
00:19:54.369 --> 00:19:56.549
you should consider it because i'm sure it's
00:19:56.549 --> 00:19:58.990
a great time and maybe uh can't do it this this
00:19:58.990 --> 00:20:01.529
week myself but maybe in the future it's something
00:20:01.529 --> 00:20:03.369
that we could try out and i was going to say
00:20:03.369 --> 00:20:06.369
too if you're running's not your flavor the celebration
00:20:06.369 --> 00:20:08.769
at the end is you know anybody is welcome so
00:20:08.769 --> 00:20:12.390
you can come in and get the contact runners high
00:20:12.390 --> 00:20:15.559
and it's 7 a .m to 12. Yeah, that's what I found
00:20:15.559 --> 00:20:16.960
online. Are you going to go to the finish line
00:20:16.960 --> 00:20:19.200
and take some photos? I'm not around this weekend,
00:20:19.259 --> 00:20:21.539
which is a bummer because this next one, Coffee
00:20:21.539 --> 00:20:25.220
and Classics on September 27th. Sunday, same
00:20:25.220 --> 00:20:28.369
day. Yeah, same day, 7 to noon. which, uh, no
00:20:28.369 --> 00:20:32.869
coffee and classics, but, um, boy, and now I'm
00:20:32.869 --> 00:20:34.750
thinking out loud with the boulder. How is that
00:20:34.750 --> 00:20:36.730
happening with the boulder? Are you sure coffee
00:20:36.730 --> 00:20:38.710
and classics is happening at the same time as
00:20:38.710 --> 00:20:42.349
the boulder? Yeah. So this is classic cars. Yeah,
00:20:42.410 --> 00:20:44.710
that's right. Um, I, to my understanding, I think
00:20:44.710 --> 00:20:47.829
the boulder has got a fairly large classic Porsche
00:20:47.829 --> 00:20:51.190
community. And so you get to see, um, a decent
00:20:51.190 --> 00:20:53.470
amount of the older Porsches. Of course, there's
00:20:53.470 --> 00:20:55.549
going to be granddad with his Corvette and the
00:20:55.549 --> 00:21:00.240
new balances. um but just a lot of osman and
00:21:00.240 --> 00:21:02.500
i were talking about toxic car culture this is
00:21:02.500 --> 00:21:05.180
not that this is you grab a coffee your car is
00:21:05.180 --> 00:21:06.940
parked you're not revving it and you're just
00:21:06.940 --> 00:21:10.160
going around to talk shop so it's a really low
00:21:10.160 --> 00:21:12.140
energy type of thing i've wanted to come to one
00:21:12.140 --> 00:21:15.119
for the longest time seeing this now i'm bummed
00:21:15.119 --> 00:21:18.319
the next one's not till october i think they
00:21:18.319 --> 00:21:20.900
do the last sunday of each month So I would look
00:21:20.900 --> 00:21:23.140
carefully at where the finish line is for the
00:21:23.140 --> 00:21:25.660
Pearl Street Mall for the Boulder -thon and 8th
00:21:25.660 --> 00:21:27.640
and Pearl. I've been by this when it's happened
00:21:27.640 --> 00:21:29.839
on Sunday, and it's right in front of Spruce
00:21:29.839 --> 00:21:32.019
Confections. Okay. And Spruce Confections frequently
00:21:32.019 --> 00:21:35.700
has a jazz ensemble performing as well. So assuming
00:21:35.700 --> 00:21:37.619
you're not going to the Boulder -thon, this would
00:21:37.619 --> 00:21:40.700
be a fun Sunday morning experience to combine
00:21:40.700 --> 00:21:43.680
classic cars, great coffee. Spruce Confections
00:21:43.680 --> 00:21:46.660
is a beloved bakery and coffee shop throughout
00:21:46.660 --> 00:21:49.559
Boulder, but this is their primary location.
00:21:50.160 --> 00:21:52.319
You've got to wonder how that's going to look
00:21:52.319 --> 00:21:55.200
on Sunday with the Boulderthon and the cars and
00:21:55.200 --> 00:21:57.299
classics at the same time. I imagine the finish
00:21:57.299 --> 00:21:59.579
line is not at 8th Street. I think that's why
00:21:59.579 --> 00:22:02.839
the routes hopefully don't interact too much.
00:22:03.819 --> 00:22:06.660
We'll find out. And this last one, Hamish, September
00:22:06.660 --> 00:22:08.759
30th, which is what day? Is that like Wednesday
00:22:08.759 --> 00:22:11.279
next week? Yeah, I believe that's like... Wednesday,
00:22:11.519 --> 00:22:14.900
September 30th. this one's a little funky i saw
00:22:14.900 --> 00:22:17.400
it and i the big one is you know you've got kimondo
00:22:17.400 --> 00:22:21.900
on there um local boulder band stratos is a local
00:22:21.900 --> 00:22:24.940
composer and i started listening to music after
00:22:24.940 --> 00:22:28.039
finding this event and you know of course this
00:22:28.039 --> 00:22:31.019
event event horizon segment gets us a little
00:22:31.019 --> 00:22:32.880
bit more community oriented and i think at the
00:22:32.880 --> 00:22:35.880
same time you know we there's some give and take
00:22:35.880 --> 00:22:38.829
there so i started listening to stratos and It's
00:22:38.829 --> 00:22:41.589
very cool what composition is nowadays. It's
00:22:41.589 --> 00:22:43.930
no longer classical only. So there's a lot of
00:22:43.930 --> 00:22:48.910
electronic elements and very ambient music. So
00:22:48.910 --> 00:22:52.069
Stratos and the Boulder Philharmonic, September
00:22:52.069 --> 00:22:57.630
30th, 7 to 9 at the E -Town Hall. Just neat local
00:22:57.630 --> 00:23:02.569
artist. Modern composers is something I hadn't
00:23:02.569 --> 00:23:06.730
really thought about. I'm sure some could make
00:23:06.730 --> 00:23:09.369
the argument that DJs are modern composers, but
00:23:09.369 --> 00:23:13.250
after listening to what Stratos' music is, hopefully
00:23:13.250 --> 00:23:15.529
I'm pronouncing that right, it seems to have
00:23:15.529 --> 00:23:17.549
a little bit more depth than just like your typical
00:23:17.549 --> 00:23:20.970
dubstep or EDM type of music. All right, so I'm
00:23:20.970 --> 00:23:23.890
going to the E -Town website to look for this
00:23:23.890 --> 00:23:25.529
event. And where do I find it? Because I don't
00:23:25.529 --> 00:23:27.210
see it. I see Nick Forrester's Hippie Bluegrass
00:23:27.210 --> 00:23:34.569
Church. E -Town Hall. E -Town. E -Town is the...
00:23:34.460 --> 00:23:38.240
radio program on npr and they built an amazing
00:23:38.240 --> 00:23:40.319
facility i don't know this is like 10 years ago
00:23:40.319 --> 00:23:42.660
they completed it maybe and they continue to
00:23:42.660 --> 00:23:47.019
record e -town the show for npr but where in
00:23:47.019 --> 00:23:49.059
are you sure about the where did you see this
00:23:49.059 --> 00:23:52.480
stratos and well i guess we'll put a link into
00:23:52.480 --> 00:23:54.160
the description you don't need to go looking
00:23:54.160 --> 00:23:56.059
for it now but i guess the reason i'm asking
00:23:56.059 --> 00:23:59.039
is look that sounds like a lot of fun and you're
00:23:59.039 --> 00:24:01.839
like free on wednesday so you know i believe
00:24:01.839 --> 00:24:05.450
in immediacy and the 30th You know, that might
00:24:05.450 --> 00:24:08.210
be a good date night for my lovely bride and
00:24:08.210 --> 00:24:14.750
I. Because E -Town is such a great venue. It's
00:24:14.750 --> 00:24:18.029
intimate. The acoustics are fantastic. They've
00:24:18.029 --> 00:24:20.950
got light snacks and drinks downstairs. It's
00:24:20.950 --> 00:24:23.670
an institution that is such a part of our arts
00:24:23.670 --> 00:24:28.089
culture here in Boulder. Yeah. So this particular
00:24:28.089 --> 00:24:30.289
event, Stratos and the Boulder Philharmonic combined,
00:24:30.470 --> 00:24:32.309
sounds like a lot of fun. And it also sounds
00:24:32.309 --> 00:24:33.869
like it should already be sold out, which is
00:24:33.869 --> 00:24:35.769
why I was checking to see if I could find a link.
00:24:36.089 --> 00:24:37.769
Because if it's already sold out, that's a bummer.
00:24:37.829 --> 00:24:40.210
But if it's not, I'm probably going to buy tickets.
00:24:40.849 --> 00:24:42.450
That's interesting, too. I'm not seeing it on
00:24:42.450 --> 00:24:46.109
the eTown schedule page. However, I'm seeing
00:24:46.109 --> 00:24:49.490
it. You just look up Stratos and Boulder Philharmonic
00:24:49.490 --> 00:24:51.990
and you can find it. It looks like Bands in Town
00:24:51.990 --> 00:24:55.009
is kind of where you can get your tickets. So
00:24:55.009 --> 00:25:00.700
it will be linked. Great. Yeah. Venues. Good
00:25:00.700 --> 00:25:02.259
to know about that though. I saw E -Town and
00:25:02.259 --> 00:25:03.920
I was like, that's such a strange name for a
00:25:03.920 --> 00:25:06.680
E -Town hall. You don't know about E -Town? Wow.
00:25:07.400 --> 00:25:09.299
Okay. Yeah. I'll tell you about Louisville, but
00:25:09.299 --> 00:25:11.200
I don't know. That's really funny because it's
00:25:11.200 --> 00:25:14.000
such a, I mean, it's such a, it's a radio program
00:25:14.000 --> 00:25:17.319
that's been going on for a long time. And Nick
00:25:17.319 --> 00:25:19.890
Forrester has been part of our. arts and music
00:25:19.890 --> 00:25:21.609
scene for a really long time it's an interesting
00:25:21.609 --> 00:25:24.849
show and if you ever have an opportunity to catch
00:25:24.849 --> 00:25:28.349
a live recording of e -town totally unique as
00:25:28.349 --> 00:25:30.630
an experience and i think it's free i don't even
00:25:30.630 --> 00:25:32.750
think they charge for for attending the recording
00:25:32.750 --> 00:25:35.410
but it's not like the full performance it's like
00:25:35.410 --> 00:25:41.769
i think we saw ben uh what's his name ben oh
00:25:41.769 --> 00:25:44.630
his last name is escaping me really famous musician
00:25:44.630 --> 00:25:47.509
we saw them perform at e -town and it was really
00:25:47.509 --> 00:25:49.930
cool yeah but it was like it was like cinema
00:25:49.930 --> 00:25:51.710
interrupt us like it was like these segments
00:25:51.710 --> 00:25:53.910
were being recorded not like you're sitting there
00:25:53.910 --> 00:25:55.930
for a whole performance by the artist it's like
00:25:55.930 --> 00:25:57.750
a yeah a little compilation a highlight reel
00:25:57.750 --> 00:26:01.150
type of sampler super intimate super interesting
00:26:01.150 --> 00:26:04.269
yeah fantastic yeah i'll get the link on there
00:26:04.569 --> 00:26:06.410
But yeah, after just listening, I'm like, oh,
00:26:06.430 --> 00:26:08.529
cool. Somebody local. And that's actually a bit
00:26:08.529 --> 00:26:10.329
of me. But this sounds like a full performance,
00:26:10.470 --> 00:26:13.210
not the E -Town radio program. This is the world
00:26:13.210 --> 00:26:16.789
premiere of Challenger Deep. So I guess Event
00:26:16.789 --> 00:26:21.069
Horizon, Challenger Deep. It is Stratos' album.
00:26:21.309 --> 00:26:23.589
And so he's going to be playing parts of that.
00:26:23.730 --> 00:26:26.910
With the Boulder Philharmonic. Yeah. Fascinating.
00:26:27.890 --> 00:26:30.809
Yeah. Okay, with that, that wraps up our Event
00:26:30.809 --> 00:26:33.190
Horizon segment. Again, if you found that interesting
00:26:33.190 --> 00:26:36.750
or useful. Or entertaining. Or even if you didn't,
00:26:36.750 --> 00:26:38.549
leave us a comment. I'd love to hear from you.
00:26:38.650 --> 00:26:41.029
And I think we're going to keep it because the
00:26:41.029 --> 00:26:43.490
idea is it also helps us focus on fun and interesting
00:26:43.490 --> 00:26:45.529
things that are happening in our community that
00:26:45.529 --> 00:26:48.970
we can then go attend. And it's very easy when
00:26:48.970 --> 00:26:51.549
you're focused nose to the grindstone on work
00:26:51.549 --> 00:26:54.170
and serving our clients to lose track of what
00:26:54.170 --> 00:26:56.470
else is going on in our community. So this is
00:26:56.470 --> 00:26:59.789
sort of the Venn diagram of why this segment
00:26:59.789 --> 00:27:02.680
makes sense. Helps us stay rooted in community.
00:27:02.880 --> 00:27:06.279
It also creates fun for us. And also, hopefully,
00:27:06.420 --> 00:27:09.420
it is an interesting banter for you all to listen
00:27:09.420 --> 00:27:12.720
to while we go on and on about interesting things
00:27:12.720 --> 00:27:14.759
coming up. It's a good reminder for me to look
00:27:14.759 --> 00:27:16.839
away from the desk, look up, you know? Right.
00:27:17.180 --> 00:27:19.920
And if it was a little rough this time, you know,
00:27:19.920 --> 00:27:21.700
give us a little grace. It's a new segment for
00:27:21.700 --> 00:27:24.279
us, so we're not entirely sure how to play off
00:27:24.279 --> 00:27:27.299
of each other for that particular topic area.
00:27:27.519 --> 00:27:30.890
Yeah. Okay. Now it's the closing table. This
00:27:30.890 --> 00:27:33.890
podcast is sponsored by House Einstein. We serve
00:27:33.890 --> 00:27:36.210
buyers and sellers in Colorado, focusing on Boulder,
00:27:36.329 --> 00:27:38.529
Denver, and several mountain resort towns, including
00:27:38.529 --> 00:27:41.450
Breckenridge and Winter Park. Our mission is
00:27:41.450 --> 00:27:43.829
simple, help you make a smarter real estate decision.
00:27:44.069 --> 00:27:47.130
You can learn more at houseeinstein .com or on
00:27:47.130 --> 00:27:49.130
our YouTube channel, where you'll find videos
00:27:49.130 --> 00:27:51.450
on neighborhoods, specific listings, and much,
00:27:51.509 --> 00:27:57.150
much more. Okay, it's time for the closing table.
00:27:57.519 --> 00:27:59.619
And this week we're talking about the Pearl Street
00:27:59.619 --> 00:28:02.859
Arts District. And the reason this one came up
00:28:02.859 --> 00:28:04.819
is I was in a finance committee meeting for the
00:28:04.819 --> 00:28:09.359
Boulder Dairy. And I can't really go into details
00:28:09.359 --> 00:28:11.180
about what we were talking about in that meeting,
00:28:11.299 --> 00:28:14.839
but the Pearl Street Arts District came up. And
00:28:14.839 --> 00:28:20.519
how we view it, well, hold on, how I view it,
00:28:20.519 --> 00:28:22.079
I'm not speaking for the Boulder Dairy, let me
00:28:22.079 --> 00:28:29.670
be clear. feeds into the ecosystem it was a missing
00:28:29.670 --> 00:28:33.789
it's a missing niche uh for it's a big a much
00:28:33.789 --> 00:28:36.809
bigger facility than the boulder dairy will be
00:28:36.809 --> 00:28:43.029
or and or is and um it can serve larger artists
00:28:43.029 --> 00:28:47.430
and i think it will really benefit sundance when
00:28:47.430 --> 00:28:49.930
sundance begins of course this is years away
00:28:49.930 --> 00:28:52.930
from completion so we'll see how it how it plays
00:28:52.930 --> 00:28:58.430
out but it's not just a 2500 seat theater, which
00:28:58.430 --> 00:29:00.410
is the centerpiece or one of the centerpieces.
00:29:00.569 --> 00:29:04.130
It also includes 500 new homes that are in close
00:29:04.130 --> 00:29:07.230
proximity to Boulder Junction, where we should
00:29:07.230 --> 00:29:11.130
have a train station. And it includes 30 ,000
00:29:11.130 --> 00:29:15.130
square feet of food, beverage services and startup
00:29:15.130 --> 00:29:18.609
retail. I don't know what startup retail is or
00:29:18.609 --> 00:29:20.289
where those words came from, but that's what's
00:29:20.289 --> 00:29:22.150
coming. It's going to be like non -franchise.
00:29:22.230 --> 00:29:24.369
Okay. I would imagine. Well, that's impressive
00:29:24.369 --> 00:29:26.730
because Boulder has a long history in the food
00:29:26.730 --> 00:29:32.589
industry of new food products originating here
00:29:32.589 --> 00:29:34.789
in our community. This is going on for many decades.
00:29:34.990 --> 00:29:36.390
So if that's actually what they're talking about,
00:29:36.490 --> 00:29:39.990
that's exciting. And connected plazas and linear
00:29:39.990 --> 00:29:42.230
parks create a walkable, bike -friendly district.
00:29:42.700 --> 00:29:46.000
The cost is estimated at $630 million, but it's
00:29:46.000 --> 00:29:47.579
not the city of Boulder that's running the show,
00:29:47.700 --> 00:29:51.240
so it probably won't turn into $1 .2 billion,
00:29:51.400 --> 00:29:54.119
hopefully. But we're talking about a lot of infrastructure,
00:29:54.380 --> 00:29:57.660
right? It will likely be a special taxing district,
00:29:57.779 --> 00:30:00.200
I imagine, given that the current infrastructure
00:30:00.200 --> 00:30:03.200
there doesn't support 500 new homes. Keep in
00:30:03.200 --> 00:30:05.559
mind that we're talking about apartments and
00:30:05.559 --> 00:30:08.359
townhomes, condos and townhomes, but that still
00:30:08.359 --> 00:30:11.299
assumes two or three people per unit. so it's
00:30:11.299 --> 00:30:13.440
a significant number of of people that would
00:30:13.440 --> 00:30:16.079
be drawing on our water resources and our sewer
00:30:16.079 --> 00:30:18.940
resources yeah also potentially our electrical
00:30:18.940 --> 00:30:21.839
resources and there's been a lot of concern over
00:30:21.839 --> 00:30:25.339
that in the city of boulder given how often um
00:30:25.339 --> 00:30:28.880
we are going dark in boulder due to infrastructure
00:30:28.880 --> 00:30:33.359
failures yeah and the uh man boulder is still
00:30:33.359 --> 00:30:35.500
one of the few cities that i see that has above
00:30:35.500 --> 00:30:39.460
ground power lines or at least where it's like
00:30:39.460 --> 00:30:42.299
very present right like i'm sitting in an intersection
00:30:42.299 --> 00:30:46.500
just haven't seen those in a while but um yeah
00:30:46.500 --> 00:30:49.279
i mean it's it's more development it's attached
00:30:49.279 --> 00:30:51.680
with development from the the real estate side
00:30:51.680 --> 00:30:54.319
of things but that's what it's saying too is
00:30:54.319 --> 00:30:56.980
a much needed rehearsal space and and kind of
00:30:56.980 --> 00:31:00.279
stage area and especially with sundance coming
00:31:00.279 --> 00:31:05.720
these uh websites like pearlartsdistrict .com
00:31:05.720 --> 00:31:08.400
is i mean it's just so utopic and the renderings
00:31:08.400 --> 00:31:12.019
and everything you know i'd love to see a world
00:31:12.019 --> 00:31:16.339
where it's this vibrant for sure pearl street's
00:31:16.339 --> 00:31:18.319
not far off though the mall i mean a couple things
00:31:18.319 --> 00:31:21.220
um you know some would say they stole the name
00:31:21.220 --> 00:31:23.220
pearl street but no it's actually on pearl street
00:31:23.220 --> 00:31:26.200
it's just the east side and the the locus of
00:31:26.200 --> 00:31:28.079
our community has been moving east for the last
00:31:28.079 --> 00:31:31.779
few decades um so 30th and pearl is a very vibrant
00:31:31.779 --> 00:31:34.700
or very active location it also is that location
00:31:34.700 --> 00:31:37.319
that has all that vacant Office space currently,
00:31:37.460 --> 00:31:39.319
but at some point that will likely be filled.
00:31:39.920 --> 00:31:42.019
The interesting thing is that they did use the
00:31:42.019 --> 00:31:44.339
word startup retail and I didn't catch it when
00:31:44.339 --> 00:31:46.859
we put the segment together. And I think it's
00:31:46.859 --> 00:31:50.140
a really exciting thing if that's what they're
00:31:50.140 --> 00:31:51.960
actually talking about. And it's not something
00:31:51.960 --> 00:31:55.420
that we're misunderstanding. And so here's what
00:31:55.420 --> 00:31:58.140
they wrote on their page that for Boulder's creative
00:31:58.140 --> 00:32:00.180
community, dedicated rehearsal and performance
00:32:00.180 --> 00:32:02.339
spaces can support local dance companies, theater
00:32:02.339 --> 00:32:05.119
groups, musicians, film organizations, youth
00:32:05.119 --> 00:32:07.710
programs. nonprofits and community events throughout
00:32:07.710 --> 00:32:10.089
the year and that is actually sounds very similar
00:32:10.089 --> 00:32:12.609
to what the dairy does but on a smaller scale
00:32:12.609 --> 00:32:15.690
and the dairy also of course does it as a 501c3
00:32:15.690 --> 00:32:20.609
a non -profit and um and so the the spaces that
00:32:20.609 --> 00:32:23.829
the dairy provides are done below the cost of
00:32:23.829 --> 00:32:26.549
the dairy like these are discounted for these
00:32:26.549 --> 00:32:29.450
organizations so i kind of wonder how how the
00:32:29.450 --> 00:32:32.789
new theater will work um but of course a lot
00:32:32.789 --> 00:32:36.339
of this is unknown it's a vision And it's years
00:32:36.339 --> 00:32:41.940
away, but the proximity to the train station
00:32:41.940 --> 00:32:44.279
is what makes it particularly interesting. So
00:32:44.279 --> 00:32:48.119
imagine there's a artist performing in the theater
00:32:48.119 --> 00:32:50.660
that would potentially fill it pretty easily.
00:32:51.059 --> 00:32:53.660
And now you don't have to hop in your car and
00:32:53.660 --> 00:32:56.200
find a place to park. You can get on the train.
00:32:56.259 --> 00:32:57.819
You can get on the train in Louisville where
00:32:57.819 --> 00:33:00.509
we were. You could get on the train in Denver
00:33:00.509 --> 00:33:03.750
or from Fort Collins and come into our community
00:33:03.750 --> 00:33:06.049
and enjoy an evening or a weekend. There will
00:33:06.049 --> 00:33:09.369
be a hotel, supposedly, without a ton of beds,
00:33:09.509 --> 00:33:13.710
but a hotel as well in the location. So I think
00:33:13.710 --> 00:33:18.710
it's excellent for our arts and creative community
00:33:18.710 --> 00:33:22.329
to have more space, to have more venues, to have
00:33:22.329 --> 00:33:28.660
more opportunities to... do art to express art
00:33:28.660 --> 00:33:31.880
venues like yeah the the infrastructure of art
00:33:31.880 --> 00:33:35.559
right for art i was going to ask like as being
00:33:35.559 --> 00:33:37.839
on the board of dairy you hear about these things
00:33:37.839 --> 00:33:40.839
coming along and i think dairy is uh being a
00:33:40.839 --> 00:33:43.039
non -profit kind of in a different position but
00:33:43.039 --> 00:33:46.559
you would hear news like this kind of open -armed
00:33:46.559 --> 00:33:50.140
welcome collaboratively right like it's not so
00:33:50.140 --> 00:33:52.359
much i think maybe another venue would hear news
00:33:52.359 --> 00:33:54.400
and be like oh no competition's opening up down
00:33:54.400 --> 00:33:58.059
the street or Maybe the arts just operate in
00:33:58.059 --> 00:34:01.079
a different world altogether. Well, I think this
00:34:01.079 --> 00:34:04.359
pattern exists across industries. You'll see
00:34:04.359 --> 00:34:09.579
concentrations of similar themed businesses and
00:34:09.579 --> 00:34:12.000
people will go there. I think it's one of these,
00:34:12.019 --> 00:34:16.420
the concentration benefits all, lifts all. Yeah,
00:34:16.500 --> 00:34:21.039
rising tides. The dairy has no shortage of people
00:34:21.039 --> 00:34:23.260
that want to use the gallery space, the theaters,
00:34:23.380 --> 00:34:26.269
or the... physical space to conduct classes.
00:34:27.710 --> 00:34:30.650
So I think that this will be a net benefit. I
00:34:30.650 --> 00:34:33.329
would love to know more about the financing side
00:34:33.329 --> 00:34:36.349
of this. And it's a little opaque how it's intended
00:34:36.349 --> 00:34:39.510
to be. It looks like a for -profit project and
00:34:39.510 --> 00:34:43.530
the primary developer, you know, has got a lot
00:34:43.530 --> 00:34:45.929
of warm, fuzzy language about sustainability.
00:34:46.920 --> 00:34:49.840
in it and on their website, I did look at that
00:34:49.840 --> 00:34:51.800
and it looks a little greenwashy to me, but I
00:34:51.800 --> 00:34:53.099
don't really know. I don't want to be critical
00:34:53.099 --> 00:34:54.679
of people I don't understand, you know, I have
00:34:54.679 --> 00:34:56.400
not met and I don't really know what they're
00:34:56.400 --> 00:34:58.960
up to. But they're sure talking the right language.
00:34:59.699 --> 00:35:02.599
You know, any new development is resource intensive.
00:35:04.019 --> 00:35:06.300
Construction is one of the most resource intensive
00:35:06.300 --> 00:35:09.519
industries on the planet. So it's kind of hard
00:35:09.519 --> 00:35:13.599
to, you know, you might build a Leeds net zero
00:35:13.599 --> 00:35:16.679
building. But all the materials that went into
00:35:16.679 --> 00:35:18.699
that building. Still had to get built. And the
00:35:18.699 --> 00:35:20.460
concrete, right? Like there's no way of getting
00:35:20.460 --> 00:35:22.920
around it. And at the same time, I think this
00:35:22.920 --> 00:35:25.300
is just part of the world we live in. And a lot
00:35:25.300 --> 00:35:27.539
of these businesses, including Conscious Bay,
00:35:27.699 --> 00:35:30.079
are doing the best they can. And having worked
00:35:30.079 --> 00:35:32.000
in the development industry before, I would love
00:35:32.000 --> 00:35:34.679
to see the model to better understand, you know,
00:35:34.679 --> 00:35:38.059
because one of the ways that this can be profitable
00:35:38.059 --> 00:35:40.599
for the developer is all the housing. All the
00:35:40.599 --> 00:35:42.300
private housing they're building that they sell
00:35:42.300 --> 00:35:44.599
for profit. Yeah. They, of course, will likely
00:35:44.599 --> 00:35:47.139
be subject to affordable housing. I think there's
00:35:47.139 --> 00:35:49.619
a 15 % or something. Right. The requirements
00:35:49.619 --> 00:35:51.400
for affordable housing in the city of Boulder.
00:35:51.460 --> 00:35:53.940
But it's the for -profit housing that makes this
00:35:53.940 --> 00:35:58.599
affordable. And the amenitization of that housing
00:35:58.599 --> 00:36:01.579
by the theater and the other arts venues in that
00:36:01.579 --> 00:36:05.280
concentrated area could help bolster the sale
00:36:05.280 --> 00:36:08.119
prices of those units. Yeah. And right now we're
00:36:08.119 --> 00:36:11.480
in like. I would say we're in one of the worst
00:36:11.480 --> 00:36:14.000
downturns I've ever seen for attached dwellings.
00:36:14.099 --> 00:36:16.880
Like the market is sort of imploding. I don't
00:36:16.880 --> 00:36:19.420
think that's the long term for housing in Boulder,
00:36:19.539 --> 00:36:23.460
but it's sort of the timing of this. At the same
00:36:23.460 --> 00:36:25.380
time, we're seeing such a slowdown. And the rates
00:36:25.380 --> 00:36:28.420
just went up. Yeah. But by the time this is constructed
00:36:28.420 --> 00:36:30.480
and finished years from now, rates will be more
00:36:30.480 --> 00:36:33.340
normalized. But I think that. For the developer
00:36:33.340 --> 00:36:35.800
to fund it, though. But as a former analyst,
00:36:35.980 --> 00:36:38.260
I really want to see the model. And it's a private
00:36:38.260 --> 00:36:39.800
model. They're not just going to email it to
00:36:39.800 --> 00:36:42.539
me. But I would love to have the developer on
00:36:42.539 --> 00:36:46.340
the pod to walk us through not just the community
00:36:46.340 --> 00:36:48.239
benefits. Don't just give us the sales pitch.
00:36:49.380 --> 00:36:51.519
transparency on you know what you guys are trying
00:36:51.519 --> 00:36:53.539
to achieve from a financial perspective as well
00:36:53.539 --> 00:36:55.860
because that's important and i i don't you know
00:36:55.860 --> 00:36:58.840
we live in america capitalism is is what we have
00:36:58.840 --> 00:37:01.320
this money first pretending we don't is the part
00:37:01.320 --> 00:37:03.199
that i find offensive that there's not a money
00:37:03.199 --> 00:37:06.099
motive to this but it does seem to be something
00:37:06.099 --> 00:37:08.079
that is very exciting and will benefit the greater
00:37:08.079 --> 00:37:11.440
community so i'd like to learn more yeah completely
00:37:11.440 --> 00:37:13.900
agree especially about the current state of attached
00:37:13.900 --> 00:37:17.860
dwellings and in the market it's sobering It's
00:37:17.860 --> 00:37:19.960
sobering, but most of what's on the market is
00:37:19.960 --> 00:37:22.920
not what I would consider, well, I've used this
00:37:22.920 --> 00:37:27.420
language before and it's adult friendly. Like
00:37:27.420 --> 00:37:29.800
what you see a lot of for attached dwellings
00:37:29.800 --> 00:37:32.460
in the spectrum of options in Boulder is a lot
00:37:32.460 --> 00:37:34.619
of old stick frame construction from the 70s
00:37:34.619 --> 00:37:37.619
and 80s that has not been updated in many years.
00:37:37.699 --> 00:37:40.260
You can hear the neighbor through it. It's a
00:37:40.260 --> 00:37:42.579
fire hazard, just standing. There's a bunch of
00:37:42.579 --> 00:37:45.210
stuff on the east side of town. that is really
00:37:45.210 --> 00:37:47.809
quite old. And so when you get people looking
00:37:47.809 --> 00:37:51.769
for a second home in Boulder, or you get people
00:37:51.769 --> 00:37:54.070
that want, that are young professionals, or maybe
00:37:54.070 --> 00:37:57.610
they want a place to downsize to, they don't
00:37:57.610 --> 00:37:59.050
want to move into something from the seventies.
00:37:59.269 --> 00:38:01.449
They want to move into something that they would
00:38:01.449 --> 00:38:03.730
love to have guests over that have closets that
00:38:03.730 --> 00:38:05.789
are reasonably sized, that have tall ceilings
00:38:05.789 --> 00:38:07.929
and to be proud of big windows that they feel
00:38:07.929 --> 00:38:10.110
good. Like this is their lived environment. And
00:38:10.110 --> 00:38:11.969
if they can afford it, they want to have something
00:38:11.969 --> 00:38:15.639
that reflects their their tastes and desires
00:38:15.639 --> 00:38:18.840
and it's their home right so boulder has a shortage
00:38:18.840 --> 00:38:21.239
good call of what i call these adult friendly
00:38:21.239 --> 00:38:23.900
units and the reason i'm saying adult is is because
00:38:23.900 --> 00:38:27.119
the other stuff is really often packed with students
00:38:27.119 --> 00:38:28.920
there's high student density and the stuff from
00:38:28.920 --> 00:38:32.699
this built in the 70s and 80s so the options
00:38:32.699 --> 00:38:34.380
are actually even though we'll get into this
00:38:34.380 --> 00:38:36.099
with into the market update even though the market
00:38:36.099 --> 00:38:39.739
dynamics look pretty dour the options are not
00:38:39.739 --> 00:38:42.829
massive for people looking for And then, like
00:38:42.829 --> 00:38:45.530
you said, too, the particular type of amenities
00:38:45.530 --> 00:38:49.869
kind of make or break the desirability of certain
00:38:49.869 --> 00:38:53.510
attached dwellings, too. You know, we're releasing
00:38:53.510 --> 00:38:57.349
a Gold Run listing here soon. And after putting
00:38:57.349 --> 00:38:59.690
together, I've got 90 % of the video drafted.
00:39:00.309 --> 00:39:04.170
The amenities on it are... I mean, where else
00:39:04.170 --> 00:39:05.809
are you truly getting something like that without
00:39:05.809 --> 00:39:07.869
spending so much more? You spend twice, and you
00:39:07.869 --> 00:39:10.530
can go to the Peloton. And you'll get very similar...
00:39:11.159 --> 00:39:14.099
functionally similar amenities, but not aesthetically
00:39:14.099 --> 00:39:16.340
similar. The Gold Run Community Center is what
00:39:16.340 --> 00:39:18.980
it is. It's decades old, but functionally it
00:39:18.980 --> 00:39:21.920
has pretty much everything you need and parallels
00:39:21.920 --> 00:39:24.619
what you'll see at the Peloton. Yeah. I'm walking
00:39:24.619 --> 00:39:26.719
through the steam room and I was like, man, this
00:39:26.719 --> 00:39:29.119
is nice. I'm tempted just to, you know, go have
00:39:29.119 --> 00:39:34.159
a steam, but yeah. One to watch. And we'll continue
00:39:34.159 --> 00:39:35.780
to talk about the Pearl Street Arts District.
00:39:35.920 --> 00:39:38.880
It's such a huge development. It fits into that
00:39:38.880 --> 00:39:42.059
Transit Village area plan. And it's coming along.
00:39:42.219 --> 00:39:45.139
So I want to make it clear that we're not, I
00:39:45.139 --> 00:39:47.159
may sound like it, but I'm not anti -development.
00:39:47.239 --> 00:39:50.260
I think that the community continues, it needs
00:39:50.260 --> 00:39:52.219
to continue to grow and change to stay alive
00:39:52.219 --> 00:39:56.159
and vibrant. And seeing investors, developers
00:39:56.159 --> 00:40:00.380
plan to put in over $600 million into this location
00:40:00.380 --> 00:40:03.780
that currently has a lot of industrial use. I'm
00:40:03.780 --> 00:40:05.860
going to lose Earl's Saw Shop, okay? I'm actually
00:40:05.860 --> 00:40:08.599
a customer of Earl's. I will be sad to lose the
00:40:08.599 --> 00:40:11.559
saw shop, but. it isn't necessarily the highest
00:40:11.559 --> 00:40:13.500
and best use of that location. Right. And as
00:40:13.500 --> 00:40:16.119
the city has changed over time, it makes sense.
00:40:16.159 --> 00:40:18.920
I would rather see an arts district there than
00:40:18.920 --> 00:40:21.500
an industrial district there. Right. Especially
00:40:21.500 --> 00:40:23.780
I think Boulder's moving away from industrial
00:40:23.780 --> 00:40:29.960
as it is. No, and I, this is, you know, it's
00:40:29.960 --> 00:40:31.860
proof in the pudding. You are pro -development
00:40:31.860 --> 00:40:35.539
in this case. And, you know, you're not flatly,
00:40:35.539 --> 00:40:38.659
I think, as you've been accused. Of being anti
00:40:38.659 --> 00:40:44.760
-development across the board. Before we beat
00:40:44.760 --> 00:40:47.139
this horse to death, thinking of the 55th and
00:40:47.139 --> 00:40:50.300
Arapaho development, it's just a cube, right?
00:40:51.380 --> 00:40:54.360
I have not... I'm not sure which, I know that
00:40:54.360 --> 00:40:56.400
that's the locus of a lot of future development.
00:40:56.440 --> 00:40:58.659
Yeah. We talked about that before. And one of
00:40:58.659 --> 00:41:00.340
those buildings that's being built looks really
00:41:00.340 --> 00:41:02.920
like a giant cube. Yeah. And it's very aesthetically
00:41:02.920 --> 00:41:06.460
unpleasing to me personally. Right. And I also,
00:41:06.559 --> 00:41:08.460
yeah, I'm speaking about my own personal aesthetics
00:41:08.460 --> 00:41:11.699
is the giant box is kind of. A cube. Depressing.
00:41:11.760 --> 00:41:13.780
Yeah. Right. Like I feel like there should be
00:41:13.780 --> 00:41:18.539
some. Something. Some is the walls need to articulate
00:41:18.539 --> 00:41:22.400
on the outside and, and yeah. It's shocking that
00:41:22.400 --> 00:41:23.579
they can build it because I know they pushed
00:41:23.579 --> 00:41:27.079
really hard to have better design language in
00:41:27.079 --> 00:41:29.079
our code. And this is where I keep coming back
00:41:29.079 --> 00:41:31.440
to development on Nantucket versus development
00:41:31.440 --> 00:41:33.820
here, where they made no illusion that these
00:41:33.820 --> 00:41:35.639
aren't arbitrary decisions that they're making.
00:41:35.860 --> 00:41:38.880
And the architects would have to work with the
00:41:38.880 --> 00:41:41.659
design review people at the city to get projects
00:41:41.659 --> 00:41:43.820
approved. And they were just saying, we don't
00:41:43.820 --> 00:41:45.639
think this is an appropriate design. The dormers
00:41:45.639 --> 00:41:48.050
are too big or we need. We need a design that
00:41:48.050 --> 00:41:49.690
is more reflective of the built environment,
00:41:49.849 --> 00:41:54.690
not what's there now. Yeah, not avant -garde.
00:41:54.889 --> 00:41:58.269
Instead, Boulder has this giant codebook that
00:41:58.269 --> 00:42:01.489
doesn't work for guiding aesthetically attractive
00:42:01.489 --> 00:42:03.869
developments. And I think it's time to throw
00:42:03.869 --> 00:42:05.969
away a lot of the codebook that is really about
00:42:05.969 --> 00:42:09.130
design language and just put in place a 12 -person
00:42:09.130 --> 00:42:13.889
board that reviews every proposal and doesn't
00:42:13.889 --> 00:42:16.659
pretend that it's not. and capricious decision
00:42:16.659 --> 00:42:19.840
-making. Like it's completely arbitrary. Maybe
00:42:19.840 --> 00:42:21.760
not capricious, but arbitrary. They're making
00:42:21.760 --> 00:42:23.320
these decisions that - It's one of those like
00:42:23.320 --> 00:42:25.239
own it things. Are about aesthetics. Yeah. And
00:42:25.239 --> 00:42:26.900
they're just going to say, we don't like the
00:42:26.900 --> 00:42:29.320
design of this because of X, Y, or Z. Have half
00:42:29.320 --> 00:42:31.139
of those people be design professionals, architects,
00:42:31.300 --> 00:42:33.360
and others. And have half of those people be
00:42:33.360 --> 00:42:36.320
lay people. Yep. Residents of Boulder. Residents
00:42:36.320 --> 00:42:38.360
of Boulder. Works for me. And they can be two
00:42:38.360 --> 00:42:40.119
students on there and they can be two tenants
00:42:40.119 --> 00:42:41.760
on there. It doesn't have to, or two renters
00:42:41.760 --> 00:42:43.039
on there. It doesn't have to all be homeowners.
00:42:43.500 --> 00:42:46.170
Let's have a mix of, residents of boulder and
00:42:46.170 --> 00:42:48.110
a bunch of architectural professionals i think
00:42:48.110 --> 00:42:51.949
i'm down for that yeah radical it certainly wouldn't
00:42:51.949 --> 00:42:54.269
be worse than it is now not trying to get something
00:42:54.269 --> 00:42:57.989
approved yeah and i think um the net result would
00:42:57.989 --> 00:43:00.449
probably be a little bit more cohesive to boulder
00:43:00.449 --> 00:43:05.809
as a feeling even is this horse dead i think
00:43:05.809 --> 00:43:07.030
we've killed the horse although i don't want
00:43:07.030 --> 00:43:08.969
necessarily think it should be cohesive like
00:43:08.969 --> 00:43:11.269
an arts district should have some avant -garde
00:43:11.269 --> 00:43:14.269
buildings it should not look like boulder junction
00:43:14.269 --> 00:43:16.489
the same thing over and over yeah and the new
00:43:16.489 --> 00:43:19.070
the new um modern art museum that's going in
00:43:19.070 --> 00:43:21.769
right here does not look it should look like
00:43:21.769 --> 00:43:24.090
a modern art museum not like every other building
00:43:24.090 --> 00:43:27.610
in boulder yeah where i'm thinking is like um
00:43:27.610 --> 00:43:33.130
oh shoot i think it's called a vista the just
00:43:33.130 --> 00:43:36.369
like block of uh condos and apartments off of
00:43:36.369 --> 00:43:41.389
36 by broomfield new vista a vista um you could
00:43:41.389 --> 00:43:44.239
travel like three states over and see the exact
00:43:44.239 --> 00:43:46.679
same design. That's where I was just like, I'd
00:43:46.679 --> 00:43:49.260
love to see kind of uniquely Boulder. Like we
00:43:49.260 --> 00:43:54.219
can have a Vostos. Is it Vistosos? I know exactly
00:43:54.219 --> 00:43:56.099
what you're talking about. And it's one of the
00:43:56.099 --> 00:43:59.340
bus stops on the Skyride. But yeah, you'll just
00:43:59.340 --> 00:44:01.340
see, you know, these apartment buildings that
00:44:01.340 --> 00:44:03.679
are the same design, copy and pasted across the
00:44:03.679 --> 00:44:08.340
country. And I think, yeah, that the whole. idea
00:44:08.340 --> 00:44:10.260
is to get away from that and have something kind
00:44:10.260 --> 00:44:11.679
of uniquely Boulder. It doesn't have to look
00:44:11.679 --> 00:44:14.699
the same, but maybe we'll have a design pod and
00:44:14.699 --> 00:44:16.480
have an architect or something. I would love
00:44:16.480 --> 00:44:18.360
that. If you're an architect listening to this
00:44:18.360 --> 00:44:21.559
and you want to chime in and educate us on how
00:44:21.559 --> 00:44:24.179
architecture is changing across the country and
00:44:24.179 --> 00:44:26.380
whether or not Boulder is keeping up or even
00:44:26.380 --> 00:44:29.460
advancing that conversation or advancing that
00:44:29.460 --> 00:44:32.099
movement, we'd love to have you because I feel
00:44:32.099 --> 00:44:33.980
like this, this is the conversations we should
00:44:33.980 --> 00:44:35.960
be having as a community. Boulder's got a history
00:44:35.960 --> 00:44:39.480
of architecture too. you know with the heartlings
00:44:39.480 --> 00:44:41.840
and i mean we have our share of famous architects
00:44:41.840 --> 00:44:44.719
yeah but i mean every community has a history
00:44:44.719 --> 00:44:46.420
of architecture it's just the question is is
00:44:46.420 --> 00:44:49.920
it architecture that's recognized as as something
00:44:49.920 --> 00:44:52.659
that publicly accepted is worth something right
00:44:52.659 --> 00:44:55.119
as meaningful is it art and we definitely have
00:44:55.119 --> 00:44:57.119
had our share of mid -century in particular but
00:44:57.119 --> 00:45:00.739
since then yeah it's been kind of like where
00:45:00.739 --> 00:45:04.960
is the where's the heartling of 2026 yeah I'm
00:45:04.960 --> 00:45:06.960
just imagining that thinking of that masterpiece
00:45:06.960 --> 00:45:09.860
that was just pulled down that mall off of, oh,
00:45:09.920 --> 00:45:12.460
was it Valmont and 28th where the old DMV used
00:45:12.460 --> 00:45:15.880
to be? I mean, it was a really ugly. You're being
00:45:15.880 --> 00:45:18.679
facetious. Yeah. Okay. You're talking about the
00:45:18.679 --> 00:45:21.599
diagonal plaza and how horrible it isn't all
00:45:21.599 --> 00:45:24.300
down. No, that's for sure. That was a challenging
00:45:24.300 --> 00:45:26.079
one because of the ownership was spread out across
00:45:26.079 --> 00:45:28.619
so many different individuals and entities that
00:45:28.619 --> 00:45:30.820
it was difficult to get. It's difficult to get
00:45:30.820 --> 00:45:33.010
things done in that location. Yeah. Okay. We
00:45:33.010 --> 00:45:35.949
should move on. We're yapping. Yep. Wow. We're
00:45:35.949 --> 00:45:38.690
never yapping, Hamish. We're having intelligent
00:45:38.690 --> 00:45:41.269
and entertaining conversation. I like to think
00:45:41.269 --> 00:45:44.389
yapping can be that. All right. Tales from the
00:45:44.389 --> 00:45:49.550
trenches. Dumb money. This one's a little challenging
00:45:49.550 --> 00:45:53.949
to talk about because I feel for people that
00:45:53.949 --> 00:46:00.860
lose money, particularly that we're not. in a
00:46:00.860 --> 00:46:04.119
space where they expected to lose money. So in
00:46:04.119 --> 00:46:08.619
Boulder, in particular, there's a common reframe,
00:46:08.619 --> 00:46:12.599
rephrase, what's the word? There's a common saying
00:46:12.599 --> 00:46:17.079
that you don't lose money in Boulder real estate,
00:46:17.199 --> 00:46:20.840
that Boulder real estate only moves up. And this
00:46:20.840 --> 00:46:23.300
couldn't be further from the truth. It is actually
00:46:23.300 --> 00:46:25.420
quite easy to lose money in Boulder real estate,
00:46:25.579 --> 00:46:30.329
particularly if you find yourself facing a multiple
00:46:30.329 --> 00:46:33.710
offer or bidding war scenario. And bidding wars
00:46:33.710 --> 00:46:36.170
are not new to Boulder. We've had them for well
00:46:36.170 --> 00:46:38.250
over a decade at this point. I remember when
00:46:38.250 --> 00:46:40.090
they became quite common and I was surprised
00:46:40.090 --> 00:46:43.429
by it. And then we developed all sorts of techniques
00:46:43.429 --> 00:46:47.389
to guide our clients in how to be prudent in
00:46:47.389 --> 00:46:52.070
bidding wars. So it's a particular area of frustration
00:46:52.070 --> 00:46:54.989
when I see somebody lose as much money as this
00:46:54.989 --> 00:46:58.349
recent closing. So we're talking about... a property
00:46:58.349 --> 00:47:02.170
in Dakota Ridge at 877 South Terrace Street.
00:47:02.329 --> 00:47:05.090
And it closed at the end of July, the very last
00:47:05.090 --> 00:47:08.449
day of July. So not that long ago. And it happened
00:47:08.449 --> 00:47:10.469
to have closed at a time that I was not quite
00:47:10.469 --> 00:47:13.010
as available to focus in on this particular deal.
00:47:13.550 --> 00:47:15.769
Let me, let me pull it up for a second. Hamish,
00:47:15.789 --> 00:47:19.610
I emailed you. I've got it open. So let's talk
00:47:19.610 --> 00:47:21.590
about the property itself. It was constructed
00:47:21.590 --> 00:47:27.159
in 2003 and it is a South facing single. family
00:47:27.159 --> 00:47:30.079
house with 3 ,500 square feet, five bedrooms,
00:47:30.280 --> 00:47:32.099
four baths. You have four bedrooms on the upper
00:47:32.099 --> 00:47:35.480
one in the basement. So that's a classic layout.
00:47:35.800 --> 00:47:39.820
It's a, it's a narrow house. Right. That's a
00:47:39.820 --> 00:47:42.699
narrower on a smaller lots kind of Dakota Ridge,
00:47:42.800 --> 00:47:45.280
like characteristic of the neighborhood. I've
00:47:45.280 --> 00:47:46.940
got the video. I'm going to link in the description
00:47:46.940 --> 00:47:49.980
of Dakota Ridge. So we did a video on Dakota
00:47:49.980 --> 00:47:51.860
Ridge is what Hamish is talking about. And this
00:47:51.860 --> 00:47:55.980
is a pattern of development as you move. Forward
00:47:55.980 --> 00:47:58.860
in time, closer to the present, you will see
00:47:58.860 --> 00:48:03.400
that the way that development occurs is that
00:48:03.400 --> 00:48:06.159
you get larger properties on smaller lots. And
00:48:06.159 --> 00:48:08.539
eventually you run out of even small lots because
00:48:08.539 --> 00:48:11.619
Boulder doesn't have many, with the exception
00:48:11.619 --> 00:48:14.699
of the planning reserve, which I fully anticipate
00:48:14.699 --> 00:48:16.840
will be developed in the next 10 years. There
00:48:16.840 --> 00:48:19.599
isn't a lot of land left for larger scale developments.
00:48:19.679 --> 00:48:22.579
And Dakota Ridge is one of the last larger scale
00:48:22.579 --> 00:48:24.519
developments. It's on the very north end of town.
00:48:25.079 --> 00:48:27.099
It's a great location, and it's continued to
00:48:27.099 --> 00:48:29.079
improve over time. You know, when it was first
00:48:29.079 --> 00:48:31.300
constructed, there was a strip club on the southeast
00:48:31.300 --> 00:48:33.599
side of the neighborhood. There isn't anymore,
00:48:33.840 --> 00:48:37.019
right? I mean, there is homeless housing, right?
00:48:37.079 --> 00:48:40.260
There's a homeless shelter there, and there's
00:48:40.260 --> 00:48:44.440
permanent housing for people experiencing homelessness.
00:48:45.599 --> 00:48:49.400
But the industrial use has started to decline.
00:48:49.699 --> 00:48:52.889
The trail access has improved. um dramatically
00:48:52.889 --> 00:48:55.510
so the location has continued to get better and
00:48:55.510 --> 00:48:59.349
this is a south -facing unit built only 23 years
00:48:59.349 --> 00:49:01.650
ago so relatively new as it comes to boulder
00:49:01.650 --> 00:49:04.889
housing stock but it's classic it's a big house
00:49:04.889 --> 00:49:08.530
on a very small lot big relative for boulder
00:49:08.530 --> 00:49:10.130
standards right throughout throughout the country
00:49:10.130 --> 00:49:12.969
3500 square feet is not considered big but it's
00:49:12.969 --> 00:49:15.110
reasonable for most families right four bedrooms
00:49:15.110 --> 00:49:18.409
on the upper one in the basement and it checks
00:49:18.409 --> 00:49:20.190
the box for what a lot of people are looking
00:49:20.190 --> 00:49:24.400
for and And to the way back machine of 2022,
00:49:24.760 --> 00:49:28.320
near the peak of the market, buyers were just
00:49:28.320 --> 00:49:31.460
throwing cash at properties. And some agents
00:49:31.460 --> 00:49:33.440
were aggressively encouraging this behavior.
00:49:33.940 --> 00:49:37.679
And I remember it quite vividly because we were
00:49:37.679 --> 00:49:40.679
frequently confronted by a scenario where our
00:49:40.679 --> 00:49:43.239
buyers were going to lose. And they weren't going
00:49:43.239 --> 00:49:45.059
to lose because they were not going to lose because
00:49:45.059 --> 00:49:46.980
they didn't have the money. They were going to
00:49:46.980 --> 00:49:50.429
lose because we were not pushing them. And meeting
00:49:50.429 --> 00:49:53.329
after meeting, we would go into these bidding
00:49:53.329 --> 00:49:55.650
wars with our clients into the war room and they
00:49:55.650 --> 00:49:58.989
would ask me, how much should we offer? And to
00:49:58.989 --> 00:50:01.090
help guide them, we would look at what the last
00:50:01.090 --> 00:50:03.630
few closings were. And then we would also, I
00:50:03.630 --> 00:50:09.650
would call listing agents with properties that
00:50:09.650 --> 00:50:11.809
were in pending status or active backup status,
00:50:12.030 --> 00:50:14.469
meaning these are deals that literally just went
00:50:14.469 --> 00:50:16.780
under contract. And when you ask the question
00:50:16.780 --> 00:50:18.260
the right way and you have a good reputation
00:50:18.260 --> 00:50:21.260
in the community, listing agents will tell you
00:50:21.260 --> 00:50:24.239
where things landed. If you ask directly, what's
00:50:24.239 --> 00:50:26.460
the contract price on this bidding war? They
00:50:26.460 --> 00:50:29.760
would never tell you. Yeah. Unless you're super
00:50:29.760 --> 00:50:32.639
close. It's how you ask the question. Yeah. And
00:50:32.639 --> 00:50:34.599
they would almost, most of them would give me
00:50:34.599 --> 00:50:36.260
some guidance on where things landed because
00:50:36.260 --> 00:50:38.739
there's a spirit of collaboration in the real
00:50:38.739 --> 00:50:40.340
estate community here in Boulder, particularly
00:50:40.340 --> 00:50:42.360
among agents that have done many deals together
00:50:42.360 --> 00:50:46.519
over many years. Super. Give you a little. Some
00:50:46.519 --> 00:50:49.739
of them brag. Not so much the collaborative ones.
00:50:49.739 --> 00:50:52.139
Brag about what? The closing price or what they're
00:50:52.139 --> 00:50:54.179
under contract for. Back in then they would after
00:50:54.179 --> 00:50:57.119
they closed. Yeah. Well, even under some of them,
00:50:57.159 --> 00:50:58.599
they've been like, oh yeah, we got a bunch and
00:50:58.599 --> 00:51:02.000
we're 150K over. I mean that occasionally. Yeah.
00:51:02.019 --> 00:51:03.320
This is not public. I'm talking edge cases. You're
00:51:03.320 --> 00:51:05.059
talking about bragging in a private conversation.
00:51:05.099 --> 00:51:07.960
They're not bragging publicly. No. Bragging publicly
00:51:07.960 --> 00:51:10.420
would happen after it closed. Right. We got 15
00:51:10.420 --> 00:51:14.099
offers. We closed 150 ,000 over list. And of
00:51:14.099 --> 00:51:16.480
course, trying to take credit for that, not market
00:51:16.480 --> 00:51:19.559
conditions or not buyer stupidity that resulted
00:51:19.559 --> 00:51:22.639
in this behavior or not. Right. So dumb money
00:51:22.639 --> 00:51:25.000
is the, is the, what we've named this. Sorry
00:51:25.000 --> 00:51:28.179
to have derailed you there, but yeah, just thinking
00:51:28.179 --> 00:51:33.579
about agents that brag. Okay. Dumb money. Okay.
00:51:33.659 --> 00:51:36.119
Let me go on. Like, like you keep derailing me,
00:51:36.159 --> 00:51:37.920
so I'm not going to be like, I'm trying to like
00:51:37.920 --> 00:51:40.840
finish out this segment. So in short, in April,
00:51:40.920 --> 00:51:43.650
the buyer paid. Almost $300 ,000 more than the
00:51:43.650 --> 00:51:47.909
list. They paid $257 ,000 over the list. Probably
00:51:47.909 --> 00:51:50.269
they waived all sorts of contingencies too. That
00:51:50.269 --> 00:51:52.989
was very common at the time. Not recommended,
00:51:53.130 --> 00:51:55.389
but very common. And a source of frustration
00:51:55.389 --> 00:51:57.989
for us, because we would tell our clients, and
00:51:57.989 --> 00:52:00.289
I still tell our clients this when we are in
00:52:00.289 --> 00:52:02.869
a rare bidding war, which we sometimes are. We
00:52:02.869 --> 00:52:05.630
were in several this summer, that I can't advise
00:52:05.630 --> 00:52:07.789
you to go significantly over the list price.
00:52:08.349 --> 00:52:10.610
You should pay what you feel comfortable paying.
00:52:11.119 --> 00:52:13.079
If you want to go over list, my recommendations
00:52:13.079 --> 00:52:17.280
are do not go over, don't offer a dollar more
00:52:17.280 --> 00:52:19.619
than you're going to regret. Figure out your
00:52:19.619 --> 00:52:22.239
regret number, right? And don't go over that
00:52:22.239 --> 00:52:24.599
number, please. And then we would often guide
00:52:24.599 --> 00:52:27.659
our clients in terms of how buyers think, because
00:52:27.659 --> 00:52:31.300
in the absence of concrete data, people typically
00:52:31.300 --> 00:52:33.860
go to the big round number. And so if you're
00:52:33.860 --> 00:52:35.639
thinking about numbers that you're comfortable
00:52:35.639 --> 00:52:38.579
with, pick the big round number you want and
00:52:38.579 --> 00:52:42.099
go above. that number don't go don't do the big
00:52:42.099 --> 00:52:44.860
round number right like i was i'll never forget
00:52:44.860 --> 00:52:47.780
being the recipient of the offers five offers
00:52:47.780 --> 00:52:51.219
all the same price all above list everyone went
00:52:51.219 --> 00:52:53.300
for the big round number and that's when the
00:52:53.300 --> 00:52:57.280
light bulb went off that oh aha that's what buyers
00:52:57.280 --> 00:52:59.300
are going to likely do in the absence of good
00:52:59.300 --> 00:53:01.820
analytics and the absence of good guidance they're
00:53:01.820 --> 00:53:03.880
going to throw a dart at a big round number so
00:53:03.880 --> 00:53:07.019
pick the round number that's slightly pick a
00:53:07.019 --> 00:53:09.000
number that's slightly above that big round number
00:53:09.369 --> 00:53:12.010
but not a number you regret. And remember, I'm
00:53:12.010 --> 00:53:13.929
not encouraging you to do this because the comp
00:53:13.929 --> 00:53:16.469
suggests that the list price is probably what
00:53:16.469 --> 00:53:18.510
it should be selling for. There's a reason the
00:53:18.510 --> 00:53:20.610
agent chose this list price. And in most cases,
00:53:20.630 --> 00:53:22.849
agents were not choosing those list prices low
00:53:22.849 --> 00:53:25.670
to drive a bidding war. It was more of a happy
00:53:25.670 --> 00:53:28.969
accident that was happening. So the California
00:53:28.969 --> 00:53:31.710
model is an intentional model for bidding wars.
00:53:31.949 --> 00:53:35.130
What happened in Boulder in 2022. was not the
00:53:35.130 --> 00:53:37.690
California style of driving bidding wars. And
00:53:37.690 --> 00:53:39.210
we've talked about that in the podcast in the
00:53:39.210 --> 00:53:41.070
past, but I'll refresh your memory in case you're
00:53:41.070 --> 00:53:43.889
new. And the California model, in particular
00:53:43.889 --> 00:53:46.409
in the Bay Area and other frothy environments,
00:53:46.570 --> 00:53:51.550
is to intentionally list low, but give buyers
00:53:51.550 --> 00:53:55.869
two full weeks to view the property, view it
00:53:55.869 --> 00:53:58.309
multiple times, come with your own inspector.
00:53:59.000 --> 00:54:01.820
Of course, the seller also pays for an inspection.
00:54:01.940 --> 00:54:04.079
That's available for you to review. But if you
00:54:04.079 --> 00:54:05.860
want to inspect it beyond that point, you are
00:54:05.860 --> 00:54:08.179
welcome to do so. But there's no guarantee you're
00:54:08.179 --> 00:54:09.699
going to get the house. You might spend $1 ,000
00:54:09.699 --> 00:54:13.039
or $2 ,000 on various due diligence items and
00:54:13.039 --> 00:54:15.800
then not be the winner. Right. And then all offers
00:54:15.800 --> 00:54:18.539
will be collected on the same date. And the listing
00:54:18.539 --> 00:54:21.519
agent will tell you that, look, if you put contingencies
00:54:21.519 --> 00:54:23.900
in this contract, you're not getting it. Like
00:54:23.900 --> 00:54:26.800
we're going for the best price with zero contingencies.
00:54:27.389 --> 00:54:29.489
just so you know. And there's nothing illegal
00:54:29.489 --> 00:54:32.250
about that. But giving the buyer two full weeks
00:54:32.250 --> 00:54:34.369
to do their due diligence increases the probability
00:54:34.369 --> 00:54:36.550
that the buyer is going to stick, right? They
00:54:36.550 --> 00:54:38.550
really want this place. They've had their inspection.
00:54:38.809 --> 00:54:41.230
Yeah, they got their chance. They've calculated
00:54:41.230 --> 00:54:44.309
their commute time. And instead in 2022, and
00:54:44.309 --> 00:54:47.110
this continues today, what was happening is people
00:54:47.110 --> 00:54:50.889
were throwing in the offer, guns blazing, and
00:54:50.889 --> 00:54:53.769
often bailing out. Today, we're not seeing bidding
00:54:53.769 --> 00:54:55.730
wars across the board, but we still are. We just
00:54:55.730 --> 00:54:58.710
talked about one last week that we avoided. So
00:54:58.710 --> 00:55:03.530
anyway, the buyer paid $1 ,807 ,000 for it when
00:55:03.530 --> 00:55:07.429
they closed on it in April of 2022. Let's fast
00:55:07.429 --> 00:55:10.570
forward to today. And the property was listed
00:55:10.570 --> 00:55:19.750
in June at 1 .5. So they listed at $307 ,000
00:55:19.750 --> 00:55:24.619
below. their acquisition price. And they sold
00:55:24.619 --> 00:55:28.820
it at that price very quickly, by the way, but
00:55:28.820 --> 00:55:31.860
not in a bidding war. They sold it. It took 11
00:55:31.860 --> 00:55:34.519
days before it went into pending status. So buyers
00:55:34.519 --> 00:55:36.699
had well over a week. Remember, there's three
00:55:36.699 --> 00:55:38.800
business days allowed for agents to change status.
00:55:38.960 --> 00:55:41.960
So it could have been a week to 10 days, maybe
00:55:41.960 --> 00:55:43.460
the full -time period if they changed it the
00:55:43.460 --> 00:55:45.559
same day. They weren't looking for backup offers.
00:55:46.250 --> 00:55:49.849
And it was sold with a $3 ,000 concession for
00:55:49.849 --> 00:55:51.730
something or other. Unclear what that was for.
00:55:51.809 --> 00:55:54.309
Likely inspection related. So slightly below
00:55:54.309 --> 00:55:58.309
1 .5. And you're looking at over a 20 % loss
00:55:58.309 --> 00:56:01.150
from their acquisition to get this property sold,
00:56:01.349 --> 00:56:05.389
which is incredibly painful for a buyer. I'm
00:56:05.389 --> 00:56:09.210
impressed the seller was receptive to this list
00:56:09.210 --> 00:56:11.869
price to begin with. And they updated it, right?
00:56:11.909 --> 00:56:15.159
You've got both listings in here. It's been repainted.
00:56:15.380 --> 00:56:19.059
The photography is vastly improved. I'm not sure
00:56:19.059 --> 00:56:21.980
if it's staged per se. Has it been repainted?
00:56:22.000 --> 00:56:24.340
It looks like the same color scheme to me. I've
00:56:24.340 --> 00:56:28.059
got a disgusting green. I'm seeing like a brown
00:56:28.059 --> 00:56:32.039
and tan frontage. The interior? Oh, you're talking
00:56:32.039 --> 00:56:33.559
about the interior. I'm looking at the exterior.
00:56:33.699 --> 00:56:36.480
My bad. Okay, so sorry. Yeah, I mean, look, they
00:56:36.480 --> 00:56:40.400
owned it for four years. And it looks like, yeah,
00:56:40.420 --> 00:56:42.460
they put in some upgrades. New washer and dryer.
00:56:43.289 --> 00:56:46.849
a new gas furnace, and likely a whole bunch of
00:56:46.849 --> 00:56:49.289
other things, including paint. And in order to
00:56:49.289 --> 00:56:51.230
get it sold, that's what we're telling our sellers
00:56:51.230 --> 00:56:54.030
right now too, particularly for attached dwellings,
00:56:54.030 --> 00:56:56.849
that you have to address the cosmetic issues
00:56:56.849 --> 00:56:59.349
to even have a chance at getting this sold. It's
00:56:59.349 --> 00:57:02.469
all about emotional, I don't know, all about,
00:57:02.590 --> 00:57:06.429
but you know, that huge impact to the buyer's
00:57:06.429 --> 00:57:09.309
perception of it. So what are the lessons? The
00:57:09.309 --> 00:57:13.710
lessons are that boy some sellers made out like
00:57:13.710 --> 00:57:17.889
bandits in 2022 and when we have another market
00:57:17.889 --> 00:57:20.570
that's like that it's a time to dump your bad
00:57:20.570 --> 00:57:23.150
real estate because there is bad real estate
00:57:23.150 --> 00:57:25.929
even here in boulder that underperforms from
00:57:25.929 --> 00:57:28.750
a rental perspective or if it's a home you own
00:57:28.750 --> 00:57:32.409
if it's not desirable for the broad market right
00:57:32.409 --> 00:57:35.849
it's in a big corner it has a dysfunctional layout
00:57:35.849 --> 00:57:39.130
or it's one of the less attractive designs, right?
00:57:39.210 --> 00:57:41.889
Like buy levels in Table Mesa are not as attractive
00:57:41.889 --> 00:57:45.050
as two stories. So multi -level homes in Table
00:57:45.050 --> 00:57:47.730
Mesa, for example, on busy street corners, a
00:57:47.730 --> 00:57:50.289
frothy market like 2022 turned out to be the
00:57:50.289 --> 00:57:53.250
optimal time. But of course, hindsight is 2020,
00:57:53.550 --> 00:57:56.949
and we're now in 2026. And we're still seeing
00:57:56.949 --> 00:57:59.849
people engage in bidding wars in which we are
00:57:59.849 --> 00:58:02.449
saying that some of the same things, which is
00:58:02.449 --> 00:58:05.289
be judicious, but we're also warning them that
00:58:05.289 --> 00:58:08.429
disciplined approaches to purchasing real estate
00:58:08.429 --> 00:58:12.210
are not rewarded in a bidding war. You're very
00:58:12.210 --> 00:58:14.010
likely that we go through this whole process.
00:58:14.250 --> 00:58:16.909
And as we had with a different client this summer,
00:58:16.969 --> 00:58:19.989
we ended up in a distant third, like off by more
00:58:19.989 --> 00:58:22.889
than 50 grand from where the top two offers landed.
00:58:23.110 --> 00:58:25.409
And boy, they were so annoyed and disappointed.
00:58:25.750 --> 00:58:27.849
And even though we told them that you're not
00:58:27.849 --> 00:58:30.130
likely to win this because our approach, we're
00:58:30.130 --> 00:58:32.650
not pushing you. We will never push you in a
00:58:32.650 --> 00:58:34.710
bidding war. If you want to write a crazy offer,
00:58:34.769 --> 00:58:37.099
I'll write it. But I'll probably document that
00:58:37.099 --> 00:58:38.940
I told you that I'm not the one pushing you.
00:58:39.000 --> 00:58:42.619
You decided this price on your own. Right. But
00:58:42.619 --> 00:58:45.139
I don't feel good about it because winning is
00:58:45.139 --> 00:58:47.000
sometimes losing when you won the bidding war
00:58:47.000 --> 00:58:48.699
and four years later you're selling the house
00:58:48.699 --> 00:58:52.760
for a $300 ,000 loss. Yeah. Sometimes winning
00:58:52.760 --> 00:58:54.920
has to be losing out on the house. And that's
00:58:54.920 --> 00:58:58.559
before commissions. I know. Add another 6 % roughly.
00:58:58.599 --> 00:59:03.360
Yeah. What a bath. This isn't the one that was
00:59:03.360 --> 00:59:05.409
by that discount brokerage. That one's still
00:59:05.409 --> 00:59:10.190
in North Boulder Uptown. Okay. Wow. 2022, man.
00:59:10.590 --> 00:59:12.829
And I've got another pod, but I've got friends
00:59:12.829 --> 00:59:15.230
that bought in 2022 and they're having to sell
00:59:15.230 --> 00:59:19.130
now and they're taking baths. So how do you approach
00:59:19.130 --> 00:59:21.829
this market? I mean, that's a topic for conversation
00:59:21.829 --> 00:59:24.230
with you and your agent, but have that conversation.
00:59:24.570 --> 00:59:26.409
And one of the questions I would encourage you
00:59:26.409 --> 00:59:30.570
to ask them is that, hey, look, if we end up
00:59:30.570 --> 00:59:32.730
in a situation where it's a competitive offer,
00:59:33.440 --> 00:59:36.380
How are you going to guide me to making a smarter
00:59:36.380 --> 00:59:39.360
decision in writing that offer? Walk me through
00:59:39.360 --> 00:59:43.920
it and listen for their answer. I mean, truly
00:59:43.920 --> 00:59:46.539
their answer, there shouldn't be any discrepancy
00:59:46.539 --> 00:59:48.800
between their answer and what they actually do,
00:59:48.980 --> 00:59:52.800
right? So you may want to check for this when
00:59:52.800 --> 00:59:54.780
it comes time to actually write an offer. And
00:59:54.780 --> 00:59:57.579
if it turns into a scenario where there's perceived
00:59:57.579 --> 01:00:00.420
probability of a competing offer, right? Like
01:00:00.420 --> 01:00:01.900
what will happen is the listing agent will say,
01:00:01.960 --> 01:00:03.900
by the way, I got another offer. Most of the
01:00:03.900 --> 01:00:05.739
time, that's true. Not always, but most of the
01:00:05.739 --> 01:00:09.019
time. Now what? Does it affect your desirability
01:00:09.019 --> 01:00:11.400
for the house? If it does, how much more are
01:00:11.400 --> 01:00:13.059
you willing to pay for somebody else's interest
01:00:13.059 --> 01:00:16.539
in the house? How are you basing your decision
01:00:16.539 --> 01:00:19.519
on what this home is worth to you? That's the
01:00:19.519 --> 01:00:20.900
conversation you want to be having with your
01:00:20.900 --> 01:00:22.539
agent. And that's why this is a tale from the
01:00:22.539 --> 01:00:24.840
trench. And be careful to not be the dumb money
01:00:24.840 --> 01:00:27.980
that's going massively over the list price for...
01:00:28.380 --> 01:00:31.099
A home that, yes, it's a nice house. It was built
01:00:31.099 --> 01:00:33.559
in 2023. It checks a lot of boxes, but it's on
01:00:33.559 --> 01:00:36.440
a tiny lot, right? It's in the far north corner
01:00:36.440 --> 01:00:38.820
of Boulder. It's right in the middle of the wildland
01:00:38.820 --> 01:00:41.360
urban interface, surrounded by open space and
01:00:41.360 --> 01:00:44.000
high fire risk on three sides. It doesn't have
01:00:44.000 --> 01:00:47.079
Table Mesa's track record with schools. Like
01:00:47.079 --> 01:00:49.219
there's not really a restaurant or grocery stores
01:00:49.219 --> 01:00:51.800
around. It's a grocery store desert in Dakota.
01:00:51.940 --> 01:00:53.760
Like I love Dakota Ridge. Okay. So if you're
01:00:53.760 --> 01:00:55.559
hearing this and you live in Dakota Ridge, I'm
01:00:55.559 --> 01:00:57.880
not dissing on you. I'm trying to be practical
01:00:57.880 --> 01:00:59.760
and realistic about the pros and cons of the
01:00:59.760 --> 01:01:03.059
neighborhood. And there are cons. So it may not
01:01:03.059 --> 01:01:04.760
have been the best place to go guns blazing in
01:01:04.760 --> 01:01:07.139
a bidding war. Question for you. And we've done
01:01:07.139 --> 01:01:10.489
this napkin math before, but. Four years, 300
01:01:10.489 --> 01:01:12.429
grand, not including commissions. What's the,
01:01:12.550 --> 01:01:14.670
how much did they pay in rent? Quote unquote.
01:01:14.949 --> 01:01:17.389
We didn't, I did not do the math. I'm not going
01:01:17.389 --> 01:01:19.969
to do it instantaneously, but the lost, you know,
01:01:19.969 --> 01:01:21.969
they could have rented, but life changes, right?
01:01:22.030 --> 01:01:24.630
Maybe a family member, maybe their jobs changed.
01:01:24.690 --> 01:01:26.590
Maybe they're getting divorced or getting married.
01:01:26.809 --> 01:01:29.030
You know, household formation drives these things.
01:01:29.110 --> 01:01:31.909
And it's also quite possible that a $300 ,000
01:01:31.909 --> 01:01:34.690
loss is a rounding error on their balance sheet.
01:01:34.769 --> 01:01:36.730
It's irrelevant to having lived there for where
01:01:36.730 --> 01:01:39.059
they want, where they wanted to be. But it still
01:01:39.059 --> 01:01:41.539
sucks. It's among one of the biggest losses I've
01:01:41.539 --> 01:01:44.960
seen in sales this summer. Be careful who you
01:01:44.960 --> 01:01:48.539
choose to advise you. That's what I would say
01:01:48.539 --> 01:01:52.559
as the biggest takeaway. And then pass that,
01:01:52.679 --> 01:01:55.159
ask really good questions before you sign on
01:01:55.159 --> 01:01:58.219
the dotted line in an exclusive agency agreement
01:01:58.219 --> 01:02:01.059
with somebody who may be pushing you instead
01:02:01.059 --> 01:02:02.920
of advising you. And I don't know that's the
01:02:02.920 --> 01:02:04.539
case here, okay? I don't know what that was like.
01:02:04.599 --> 01:02:06.840
I wasn't part of this deal. But I know that they
01:02:06.840 --> 01:02:09.480
won the bidding war only to lose and see this
01:02:09.480 --> 01:02:11.980
property drop massively in value. And it's not
01:02:11.980 --> 01:02:14.260
a high -end property. No. It's not a $3 million
01:02:14.260 --> 01:02:16.400
deal where we've seen a million dollar discounts.
01:02:16.739 --> 01:02:20.119
It is in the mid -market of Boulder Real Estate.
01:02:21.400 --> 01:02:24.380
Market update? That's how you want to introduce
01:02:24.380 --> 01:02:28.599
it? Boy, Oz, it's been a September. How's it
01:02:28.599 --> 01:02:31.099
looking from a market perspective? Well, no.
01:02:31.380 --> 01:02:35.869
I've been doing the weekly market updates. Last
01:02:35.869 --> 01:02:39.070
week's that I posted on Friday was very interesting
01:02:39.070 --> 01:02:41.510
because I saw more inventory coming to market
01:02:41.510 --> 01:02:45.409
than I had in like the past three weeks on like
01:02:45.409 --> 01:02:48.989
a percentage increase week over week basis. I
01:02:48.989 --> 01:02:52.449
attributed that to real estate agents advising
01:02:52.449 --> 01:02:55.190
their sellers to hold off listing on Labor Day
01:02:55.190 --> 01:03:01.849
weekend. What are you seeing in the data? Well,
01:03:01.849 --> 01:03:04.269
I mean, that's an interesting. thesis i'd have
01:03:04.269 --> 01:03:06.929
to go look at year over year the week after labor
01:03:06.929 --> 01:03:08.690
day i would anticipate there being a bit of a
01:03:08.690 --> 01:03:10.670
bump like labor day weekend is probably not the
01:03:10.670 --> 01:03:14.070
best time to list right and um with parents weekend
01:03:14.070 --> 01:03:16.730
coming up in early october if you have an attached
01:03:16.730 --> 01:03:19.010
dwelling that might be a good time to list it's
01:03:19.010 --> 01:03:21.090
what we're planning to do with one of our upcoming
01:03:21.090 --> 01:03:25.090
listings but i did look at september market data
01:03:25.090 --> 01:03:28.329
and so the day of this recording is september
01:03:28.329 --> 01:03:31.409
23rd so this is current to today which covers
01:03:31.409 --> 01:03:34.710
the first three weeks of the month And what we
01:03:34.710 --> 01:03:38.889
have seen is this is for Boulder County, not
01:03:38.889 --> 01:03:42.630
the city. I want to be very clear. As of this
01:03:42.630 --> 01:03:46.070
morning, 287 new single family houses hit the
01:03:46.070 --> 01:03:51.489
market this month so far. And of those 287, 47
01:03:51.489 --> 01:03:54.210
are in pending status, meaning they are either
01:03:54.210 --> 01:03:57.829
under contract pending or active backup. Both
01:03:57.829 --> 01:04:01.159
of those statuses are pending. One of them signals
01:04:01.159 --> 01:04:04.300
to the market that the seller is open to a backup
01:04:04.300 --> 01:04:07.659
offer. The other one says, hey, we're under contract.
01:04:07.760 --> 01:04:10.159
This is class. We think it's closing. So we don't
01:04:10.159 --> 01:04:12.179
really want more showings. We're not interested
01:04:12.179 --> 01:04:15.079
in your backup offer. But from a data analysis
01:04:15.079 --> 01:04:18.840
perspective, both of those categories or classifications
01:04:18.840 --> 01:04:22.179
are pending. And with that in mind, there's 17
01:04:22.179 --> 01:04:26.320
.7. So and four properties have sold. So they've
01:04:26.320 --> 01:04:28.760
sold. They were listed this month and sold this
01:04:28.760 --> 01:04:32.610
month. Which means you're looking at 17 .7 %
01:04:32.610 --> 01:04:35.909
are either pending or sold of those 287 new listings.
01:04:36.210 --> 01:04:39.369
Less than 20 % market absorption of new listings.
01:04:39.510 --> 01:04:41.650
But just keep in mind that includes people that
01:04:41.650 --> 01:04:45.030
have refreshed their listings. Right. Okay, so
01:04:45.030 --> 01:04:47.610
when you think about that from an economics perspective
01:04:47.610 --> 01:04:52.010
or a market balance perspective, it's generally
01:04:52.010 --> 01:04:55.030
perceived that five to six months is considered
01:04:55.030 --> 01:04:58.110
a balanced market. And that's for all inventory,
01:04:58.150 --> 01:05:01.190
not just new listings. When you add in all inventory,
01:05:01.409 --> 01:05:04.170
we are way below that 17 % number. So this is
01:05:04.170 --> 01:05:07.750
a broad brush of the market. We are looking at
01:05:07.750 --> 01:05:10.849
a buyer's market for single family houses in
01:05:10.849 --> 01:05:14.329
Boulder County. No argument. It varies dramatically
01:05:14.329 --> 01:05:16.670
by price range and location, as everybody knows,
01:05:16.710 --> 01:05:19.889
as we've talked about ad nausea. And then let's
01:05:19.889 --> 01:05:21.869
talk about townhomes and condos. So this is the
01:05:21.869 --> 01:05:25.440
part of the... Of the update that I was kind
01:05:25.440 --> 01:05:27.179
of astonished by when I looked at this data,
01:05:27.340 --> 01:05:30.739
127 new townhomes and condos have hit the market
01:05:30.739 --> 01:05:34.920
in Boulder County this month so far. Only eight
01:05:34.920 --> 01:05:38.980
are in pending status and zero have sold. So
01:05:38.980 --> 01:05:41.900
that means 6 .3 % absorption of new listings
01:05:41.900 --> 01:05:46.519
so far this month, which is shockingly low when
01:05:46.519 --> 01:05:51.619
you think that means you have roughly 94%, 93
01:05:51.619 --> 01:05:55.820
.7%. new listings so far this month have not
01:05:55.820 --> 01:06:00.980
found a buyer yet. Crickets. So what does that
01:06:00.980 --> 01:06:03.159
mean for you? Well, consult with your agent.
01:06:03.320 --> 01:06:06.940
But if your agent isn't capable or you're considering
01:06:06.940 --> 01:06:09.239
switching agents or looking for an agent, you
01:06:09.239 --> 01:06:11.639
can reach out to us at HouseEinstein .com and
01:06:11.639 --> 01:06:13.980
we will treat you like a client with straight
01:06:13.980 --> 01:06:17.099
talk and advice based on your unique real estate
01:06:17.099 --> 01:06:20.639
situation. But in short, as we enter into the
01:06:20.639 --> 01:06:24.119
fourth quarter, which begins In October, we are
01:06:24.119 --> 01:06:27.119
looking at a very strong buyer's market and how
01:06:27.119 --> 01:06:31.739
to navigate that intelligently is really your
01:06:31.739 --> 01:06:34.719
mission as a buyer and seller. From the sale
01:06:34.719 --> 01:06:37.940
side, from a listing side, we usually encourage
01:06:37.940 --> 01:06:40.360
our sellers to consider listing in January, in
01:06:40.360 --> 01:06:43.300
a normal year. This year, the winter of discontent
01:06:43.300 --> 01:06:46.639
for sellers, in addition to strongly suggesting
01:06:46.639 --> 01:06:49.320
you might want to wait, we also are pushing all
01:06:49.320 --> 01:06:52.760
of our sellers to... properly prepare their listings
01:06:52.760 --> 01:06:55.039
particularly attached dwellings which means fresh
01:06:55.039 --> 01:06:57.659
paint which means addressing all cosmetic issues
01:06:57.659 --> 01:07:00.579
which means professional staging and then on
01:07:00.579 --> 01:07:03.340
top of all of that pricing aggressively so this
01:07:03.340 --> 01:07:06.840
is not a market to test buyers to see if there's
01:07:06.840 --> 01:07:09.059
an appetite for overpaying i can tell you there's
01:07:09.059 --> 01:07:11.539
zero appetite particularly for attached dwellings
01:07:11.539 --> 01:07:14.559
so be forewarned if you're entering this market
01:07:14.559 --> 01:07:16.800
as a seller you really need to be prepared to
01:07:16.800 --> 01:07:18.739
be realistic and you don't necessarily need to
01:07:18.739 --> 01:07:21.579
be taking $300 ,000 losses to get your property
01:07:21.579 --> 01:07:24.900
sold, but you certainly have to price the market.
01:07:25.039 --> 01:07:28.960
So that's required. And I would even go further
01:07:28.960 --> 01:07:31.159
and say, you need to lead the market, not follow
01:07:31.159 --> 01:07:34.059
the market in pricing to be successful. And on
01:07:34.059 --> 01:07:36.800
the buy side, boy, you've got a lot of choices.
01:07:36.960 --> 01:07:39.880
At every price point, you can afford to be patient
01:07:39.880 --> 01:07:42.159
and you should absolutely go after stale listings,
01:07:42.360 --> 01:07:44.940
particularly if they contain the signature of
01:07:44.940 --> 01:07:47.420
a seller who might be willing to be negotiable.
01:07:47.869 --> 01:07:49.889
And if they're not negotiable, move on. There's
01:07:49.889 --> 01:07:52.610
always another house. I got an email this morning
01:07:52.610 --> 01:07:56.150
from a agent and the subject line in all caps
01:07:56.150 --> 01:08:03.230
is 20K in seller concessions. So there is clearly
01:08:03.230 --> 01:08:05.730
a lot of, there are a lot of sellers I think
01:08:05.730 --> 01:08:07.730
out there that are really trying to get their
01:08:07.730 --> 01:08:10.869
properties moving. There are, but don't fall
01:08:10.869 --> 01:08:13.369
for the concessions email. It still needs to
01:08:13.369 --> 01:08:16.090
be priced to market. And that, so that the addition
01:08:16.090 --> 01:08:18.539
of the, so this is where, Usually what we find
01:08:18.539 --> 01:08:20.140
is a seller that doesn't want to do the work
01:08:20.140 --> 01:08:23.039
and they say, okay, well, because the house needs
01:08:23.039 --> 01:08:25.699
paint and carpets, we'll give you $20 ,000 in
01:08:25.699 --> 01:08:28.500
concessions. Actually, what they should have
01:08:28.500 --> 01:08:30.899
done is do the carpet and the paint and make
01:08:30.899 --> 01:08:33.159
the house look attractive with that $20 ,000
01:08:33.159 --> 01:08:35.500
instead of trying to get the buyer to take on
01:08:35.500 --> 01:08:37.239
the risk. You kind of shoot yourself in the foot
01:08:37.239 --> 01:08:42.260
from an impression standpoint that way. We work
01:08:42.260 --> 01:08:46.079
with a lot of buyers. few select buyers are willing
01:08:46.079 --> 01:08:48.560
to imagine beyond the home that they walk in
01:08:48.560 --> 01:08:51.560
on. So like the, yeah, that those first impressions,
01:08:51.560 --> 01:08:54.439
the emotional appeal when you're inside the home,
01:08:54.520 --> 01:08:58.619
it's a disservice not to do the prep initially.
01:08:59.319 --> 01:09:01.920
It just, it just isn't reflective of how buyers
01:09:01.920 --> 01:09:04.039
make decisions, right? They make decisions on
01:09:04.039 --> 01:09:06.279
emotions. So they see the house because it checks
01:09:06.279 --> 01:09:08.460
the boxes of their functional needs and is in
01:09:08.460 --> 01:09:10.000
the price point that they feel comfortable with.
01:09:10.569 --> 01:09:12.369
And then they walk in and within 30 seconds,
01:09:12.390 --> 01:09:13.909
they've made a decision on whether this is the
01:09:13.909 --> 01:09:16.310
one or not. And then after that, they backfill
01:09:16.310 --> 01:09:18.770
with rationality about the price. Yep. Right?
01:09:18.890 --> 01:09:22.449
Like that's secondary. It is. After they've already
01:09:22.449 --> 01:09:23.970
made the decision whether they want the house
01:09:23.970 --> 01:09:26.250
or not. So you have to focus on emotional appeal.
01:09:26.569 --> 01:09:28.630
But then when it comes to that second phase,
01:09:28.710 --> 01:09:31.090
that conversation of does this, is this priced
01:09:31.090 --> 01:09:33.350
right? It should be priced right. They should
01:09:33.350 --> 01:09:35.470
be able to get their head around the price. Slightly
01:09:35.470 --> 01:09:37.670
higher, they might still be willing to make an
01:09:37.670 --> 01:09:41.069
offer. But if you're pricing off 2024 or 2023,
01:09:41.569 --> 01:09:43.829
you are way off the mark. You need to be priced
01:09:43.829 --> 01:09:46.770
off this summer and fall's activity. It all just
01:09:46.770 --> 01:09:50.029
began. And the comps, because I think the market
01:09:50.029 --> 01:09:54.170
slowed down so much, they're difficult to find
01:09:54.170 --> 01:09:57.789
exact comps. Meaning that there's not enough
01:09:57.789 --> 01:10:00.569
volume. Right. But there's enough general market
01:10:00.569 --> 01:10:03.689
data. I think this is where it distinguishes
01:10:03.689 --> 01:10:05.619
a good agent. What else could you buy at this
01:10:05.619 --> 01:10:07.399
price point in this neighborhood? Maybe it's
01:10:07.399 --> 01:10:09.819
not functionally identical as a true comp would
01:10:09.819 --> 01:10:12.180
be from an appraisal perspective. But from a
01:10:12.180 --> 01:10:14.840
buyer's mind, what else could I spend at 1 .5
01:10:14.840 --> 01:10:17.840
and get? And it needs to be compelling. It needs
01:10:17.840 --> 01:10:19.880
to be compelling for the last few weeks and the
01:10:19.880 --> 01:10:21.699
last few months so that when they see it, the
01:10:21.699 --> 01:10:23.199
buyers that have been in the market for the last
01:10:23.199 --> 01:10:25.380
few weeks and the last few months will see it
01:10:25.380 --> 01:10:28.060
as value. But the value is secondary to the emotional
01:10:28.060 --> 01:10:32.609
appeal. Yep. And yeah, you're... You're not testing
01:10:32.609 --> 01:10:34.529
the market to see how much you could get here.
01:10:34.729 --> 01:10:38.090
You're going to, yeah. It's not positive news
01:10:38.090 --> 01:10:41.109
we're able to provide our clients right now.
01:10:41.189 --> 01:10:44.189
It's very realistic and grounded, and that's
01:10:44.189 --> 01:10:47.390
positive in its own right. But it's not, yeah,
01:10:47.470 --> 01:10:50.109
time to get rid of your ugly duckling property.
01:10:50.949 --> 01:10:54.630
It's not time to test the market. And if we represent
01:10:54.630 --> 01:10:56.710
you on the buy side, our mission is to help you
01:10:56.710 --> 01:10:59.170
make the smartest real estate decision that you
01:10:59.170 --> 01:11:02.359
can make. And if we represent you on the sales
01:11:02.359 --> 01:11:04.260
side, our mission is to help you sell the property
01:11:04.260 --> 01:11:06.760
for the most money, but also sell the property,
01:11:06.939 --> 01:11:09.619
not just inflate your ego with a price point.
01:11:09.720 --> 01:11:12.119
Like we actually want to be successful. And if
01:11:12.119 --> 01:11:14.119
we are not able to be successful because the
01:11:14.119 --> 01:11:15.739
pricing is wrong or you're not willing to do
01:11:15.739 --> 01:11:17.979
the work, we will probably pass on the listing.
01:11:18.159 --> 01:11:20.699
We don't, it's just work with no pay, right?
01:11:20.800 --> 01:11:23.520
Like that's what a failed listing is. It represents
01:11:23.520 --> 01:11:27.680
a lot of work and not actually closing. Right.
01:11:27.800 --> 01:11:30.399
Right. So that, that is not a good business model
01:11:30.399 --> 01:11:33.340
for success. It's also why the failure rate for
01:11:33.340 --> 01:11:35.720
real estate agents is close to 80%. It's like
01:11:35.720 --> 01:11:38.319
75 % of agents that try this business fail. How
01:11:38.319 --> 01:11:40.279
many make it through the first three years? It's
01:11:40.279 --> 01:11:42.720
a very small number. Yeah. That's like the 25
01:11:42.720 --> 01:11:44.399
% number. That's what I'm saying. Sister -in
01:11:44.399 --> 01:11:47.399
-law. Yeah. I've been talking to her. Okay. Let's
01:11:47.399 --> 01:11:49.659
move on. So that's the market update for September.
01:11:50.000 --> 01:11:52.520
We'll revisit the data once the month closes.
01:11:52.560 --> 01:11:54.979
So probably the first or second week of October,
01:11:55.000 --> 01:11:58.670
we'll come back to this. Yeah. It's time for
01:11:58.670 --> 01:12:01.569
sales of the week. And so I got, I got to say
01:12:01.569 --> 01:12:03.789
that Hamish, I feel like every time we introduce
01:12:03.789 --> 01:12:06.050
a segment, we should like do so with some gusto.
01:12:06.210 --> 01:12:08.890
No, we need like a little sting or yeah. Well,
01:12:08.949 --> 01:12:11.449
look, I, you're, you're into cameras and photography
01:12:11.449 --> 01:12:13.890
and I've been following this guy on YouTube for
01:12:13.890 --> 01:12:17.010
probably seven or eight years and he's got his
01:12:17.010 --> 01:12:21.609
own little catchy, cheesy channel name, right?
01:12:21.689 --> 01:12:23.569
It's called Fro Knows Photo. Oh yeah, yeah. And
01:12:23.569 --> 01:12:26.439
he's got a giant fro. And when he introduces
01:12:26.439 --> 01:12:29.220
a segment, he does it with such cheese that it's
01:12:29.220 --> 01:12:33.399
actually kind of funny, right? He looks a lot
01:12:33.399 --> 01:12:35.500
like one of our clients, by the way, without
01:12:35.500 --> 01:12:37.579
a fro. You haven't met this client in person,
01:12:37.819 --> 01:12:40.420
but you will someday. So they have very similar
01:12:40.420 --> 01:12:42.720
mannerisms. Anyway, but the point I'm trying
01:12:42.720 --> 01:12:44.460
to make is he introduces it with some gusto.
01:12:44.640 --> 01:12:46.979
And so we need to introduce our segments with
01:12:46.979 --> 01:12:50.020
gusto too. Maybe not with as much cheese as fro
01:12:50.020 --> 01:12:54.569
knows, but for sure. with some some kind of excitement
01:12:54.569 --> 01:12:56.750
in in it because this should be its own segment
01:12:56.750 --> 01:12:58.909
it is its own segment we've got a great lineup
01:12:58.909 --> 01:13:00.869
to this week we have a great lineup yeah sales
01:13:00.869 --> 01:13:02.829
of the week and these are the lessons from the
01:13:02.829 --> 01:13:04.329
sales of the week and some of them are a little
01:13:04.329 --> 01:13:07.750
bit oh i don't know i'll call it opaque like
01:13:07.750 --> 01:13:10.970
what exactly happened in this deal and let me
01:13:10.970 --> 01:13:14.250
open up my little um are we low to high today
01:13:14.250 --> 01:13:16.960
or high to low Oh, let's go high to low. Okay.
01:13:17.159 --> 01:13:20.119
Cool, that last one. People want the high dollar
01:13:20.119 --> 01:13:22.579
numbers first. Come on. It's like lifestyles
01:13:22.579 --> 01:13:24.739
of the rich and famous, the sexiest, most expensive
01:13:24.739 --> 01:13:27.399
houses first. They're the most fun to talk about.
01:13:27.539 --> 01:13:29.720
And this first one's a bit of a mystery. 546
01:13:29.720 --> 01:13:33.619
14th Street. It's a home built in the late 40s,
01:13:33.619 --> 01:13:38.300
1949, so post -war, and in one of the most desirable
01:13:38.300 --> 01:13:41.060
locations in town because of its proximity to
01:13:41.060 --> 01:13:46.529
Chautauqua. Chautauqua is... is the jewel in
01:13:46.529 --> 01:13:49.350
boulder open space it is what is iconic it is
01:13:49.350 --> 01:13:51.029
what people think of when they think of boulder
01:13:51.029 --> 01:13:55.050
is that flat iron backdrop and chautauqua's amenities
01:13:55.050 --> 01:13:57.550
go way beyond that because of the community center
01:13:57.550 --> 01:13:59.810
the brand new like they've invested a massive
01:13:59.810 --> 01:14:02.890
amount of money in the theater yeah um so chautauqua
01:14:02.890 --> 01:14:06.649
is spectacular as as a venue as an amenity in
01:14:06.649 --> 01:14:08.970
a way it parallels our earlier conversation about
01:14:08.970 --> 01:14:11.789
the pearl street arts district except these these
01:14:11.789 --> 01:14:14.340
aren't attached dwellings and high density these
01:14:14.340 --> 01:14:17.239
are single family houses in an incredibly desirable
01:14:17.239 --> 01:14:20.079
spot right up against open space so i would live
01:14:20.079 --> 01:14:22.939
here in a heartbeat uh the prices keep galloping
01:14:22.939 --> 01:14:24.979
out of control so i'm like well even in this
01:14:24.979 --> 01:14:26.720
market when it was two million i was thinking
01:14:26.720 --> 01:14:28.720
maybe in a few years i'll be able to swing in
01:14:28.720 --> 01:14:30.699
and now the prices are at well this one just
01:14:30.699 --> 01:14:33.159
closed for four million and of course it's a
01:14:33.159 --> 01:14:35.300
cash deal that's pretty typical for higher end
01:14:35.300 --> 01:14:37.659
property in boulder it's sitting on a decent
01:14:37.659 --> 01:14:41.050
lot just under 10 000 square feet And it's 4
01:14:41.050 --> 01:14:45.310
,850 total square feet, including the basement,
01:14:45.390 --> 01:14:47.329
which was fully finished. And when you look at
01:14:47.329 --> 01:14:50.050
the interior photography and the exterior photography,
01:14:50.310 --> 01:14:53.109
you see a beautifully manicured and landscaped
01:14:53.109 --> 01:14:55.909
property, beautifully professionally landscaped.
01:14:55.909 --> 01:14:58.649
And then you see all these nods to mid -century
01:14:58.649 --> 01:15:00.510
architecture, even though this technically wasn't
01:15:00.510 --> 01:15:04.170
there. It was built in 1949, but you've got all
01:15:04.170 --> 01:15:07.649
that beautiful exposed wood beams. I mean, this
01:15:07.649 --> 01:15:11.369
is such an aesthetically pleasing home. And functionally
01:15:11.369 --> 01:15:14.470
check so many boxes. Including a three car attached
01:15:14.470 --> 01:15:17.369
garage. Which look. There aren't a lot of these.
01:15:17.729 --> 01:15:19.850
Not in the Stockwell neighborhood. Not in any
01:15:19.850 --> 01:15:22.350
neighborhood really. I guess in the newer neighborhoods.
01:15:23.310 --> 01:15:26.949
Like Northfield Commons. There are some neighborhoods.
01:15:27.229 --> 01:15:29.850
You go up to Gun Barrel. There are some places
01:15:29.850 --> 01:15:31.729
where three car garages are more common. But
01:15:31.729 --> 01:15:34.130
for sure that's more 90s era. So to be able to
01:15:34.130 --> 01:15:37.810
get that is saying something. So interestingly.
01:15:38.760 --> 01:15:42.279
No seller's property disclosure. You're kidding.
01:15:42.520 --> 01:15:44.520
Nope. That's what it says. There's no seller's
01:15:44.520 --> 01:15:47.560
property disclosure. And also very interestingly,
01:15:47.720 --> 01:15:50.859
I believe the seller was actually the University
01:15:50.859 --> 01:15:53.380
of Colorado Foundation, which is listed as the
01:15:53.380 --> 01:15:56.979
last owner of this property. What is that? The
01:15:56.979 --> 01:15:59.140
University of Colorado Foundation Incorporated.
01:15:59.979 --> 01:16:02.279
You know, that's a great question. There's a
01:16:02.279 --> 01:16:05.079
lot, you know, universities have, this is not
01:16:05.079 --> 01:16:06.680
my area of expertise. So I'm just going to say,
01:16:06.760 --> 01:16:09.800
I don't know. Right. universities typically have
01:16:09.800 --> 01:16:13.060
multiple foundations that are affiliated. I suspect
01:16:13.060 --> 01:16:15.180
this might've been like the chancellor's residence
01:16:15.180 --> 01:16:17.119
or something along those lines. Like they buy
01:16:17.119 --> 01:16:19.600
the house for the chancellor and they own it.
01:16:19.640 --> 01:16:21.880
And the chancellor or whoever the executive is,
01:16:21.960 --> 01:16:24.039
right. That lives, lives in the house rent free.
01:16:24.100 --> 01:16:26.479
It's part of the compensation package, but let
01:16:26.479 --> 01:16:28.500
me be clear. I don't know that for a fact. Right.
01:16:28.560 --> 01:16:31.399
Okay. I, but that's probably what this deal is
01:16:31.399 --> 01:16:34.140
or something similar. Why would, why would the,
01:16:34.159 --> 01:16:37.329
why would see use foundation on this house? So
01:16:37.329 --> 01:16:39.010
interestingly enough, the tax records are a little
01:16:39.010 --> 01:16:40.949
confusing. It looks like it was acquired for
01:16:40.949 --> 01:16:43.930
3 .75 and it's sold for four. It was acquired
01:16:43.930 --> 01:16:47.890
in August of 2024 and it sold on September 21st
01:16:47.890 --> 01:16:51.229
for 250 grand more than it was acquired for.
01:16:52.090 --> 01:16:55.010
Exceptional location, very functional, four bedrooms,
01:16:55.289 --> 01:16:58.550
six baths, three of those bedrooms are on the
01:16:58.550 --> 01:17:03.319
main, one in the basement. And kind of a split
01:17:03.319 --> 01:17:05.840
layout for the bathrooms. But again, look at
01:17:05.840 --> 01:17:09.279
this house and it is just spectacular as a property
01:17:09.279 --> 01:17:14.380
in one of the best locations in town. I guess
01:17:14.380 --> 01:17:16.859
I could say I'm a little surprised that they
01:17:16.859 --> 01:17:19.279
exceeded the 2024 sale price because once you
01:17:19.279 --> 01:17:22.000
cross 3 million, there's a lot of competition.
01:17:22.760 --> 01:17:25.600
However, this location and the three bedroom,
01:17:25.939 --> 01:17:31.189
sorry, the three garage spaces and the... I mean,
01:17:31.210 --> 01:17:33.649
the nature of how well kept this house was, I
01:17:33.649 --> 01:17:36.149
think, justifies the premium. So I'm going to
01:17:36.149 --> 01:17:39.310
say market deal in paying $4 million for it.
01:17:39.350 --> 01:17:44.109
It was listed for over a month at $4 .45. They
01:17:44.109 --> 01:17:46.409
did successfully negotiate more than 10 % off
01:17:46.409 --> 01:17:49.470
the price. So I think that's a well -bought property.
01:17:49.829 --> 01:17:53.109
And $4 million represents market value. And also,
01:17:53.170 --> 01:17:55.470
hat tip to our clients who paid less than $1
01:17:55.470 --> 01:17:57.930
million. two blocks away from this house thinking
01:17:57.930 --> 01:18:00.090
about them recently okay they're gonna hate this
01:18:00.090 --> 01:18:01.789
house because it's gonna make their taxes more
01:18:01.789 --> 01:18:05.149
expensive but it was already in the comp set
01:18:05.149 --> 01:18:07.090
and of course this house is so much larger than
01:18:07.090 --> 01:18:10.670
what they own but still it's like it just i think
01:18:10.670 --> 01:18:13.369
it should be a feather in the cap of their investment
01:18:13.369 --> 01:18:16.210
prowess they took guts though to buy a home that
01:18:16.210 --> 01:18:18.010
was as old as the home they bought and needed
01:18:18.010 --> 01:18:20.850
as much work as it needed but you could see they're
01:18:20.850 --> 01:18:23.470
surrounded by such high -end real estate um in
01:18:23.470 --> 01:18:26.220
such an iconic location that it And that was
01:18:26.220 --> 01:18:27.779
a lot of our conversation when they bought that
01:18:27.779 --> 01:18:29.479
house. That neighborhood will support, right?
01:18:29.520 --> 01:18:30.840
Will this support additional follow -on? And
01:18:30.840 --> 01:18:32.779
where they're going with that house. Yeah. Will
01:18:32.779 --> 01:18:34.720
it support additional follow -on capital? The
01:18:34.720 --> 01:18:38.659
answer is hard yes. Absolutely. And well, even
01:18:38.659 --> 01:18:40.640
in a market that's seen softening at the high
01:18:40.640 --> 01:18:43.460
end, this home still sold for more than it was
01:18:43.460 --> 01:18:46.260
acquired for. Although I'm sure, you know, the
01:18:46.260 --> 01:18:47.800
foundation's probably a little disappointed that
01:18:47.800 --> 01:18:51.079
it didn't get their 445. But they still got a
01:18:51.079 --> 01:18:53.439
pretty good deal. One of the Chautauqua things
01:18:53.439 --> 01:18:56.460
is... It's just this kind of nestled treetop
01:18:56.460 --> 01:18:58.960
feeling. I mean, the trees and everything are
01:18:58.960 --> 01:19:03.079
just so grown and everywhere that the privacy,
01:19:03.539 --> 01:19:06.300
you know, the houses aren't ridiculously far
01:19:06.300 --> 01:19:08.819
from each other, but it just seems like you're
01:19:08.819 --> 01:19:11.880
in your own little spot. I mean, it was developed
01:19:11.880 --> 01:19:15.239
and platted at a time when, in contrast to Dakota
01:19:15.239 --> 01:19:17.899
Ridge, right? Like this is three, you could fit
01:19:17.899 --> 01:19:20.199
three of those houses if you were using today's
01:19:20.199 --> 01:19:22.590
standards. or the standards from Dakota Ridge,
01:19:22.729 --> 01:19:24.850
which changed, right? So standards, rules always
01:19:24.850 --> 01:19:27.989
change. Anyway, the spaciousness and privacy
01:19:27.989 --> 01:19:30.050
and mature landscaping of this location is very
01:19:30.050 --> 01:19:33.010
hard to beat. And I think that in the long run,
01:19:33.109 --> 01:19:36.630
this home will hold its value very well. Yeah.
01:19:36.989 --> 01:19:42.970
That's got an ADU too. Yeah. All right, next
01:19:42.970 --> 01:19:47.409
one. 2959 South Lake Ridge Trail. This location
01:19:47.409 --> 01:19:50.369
is called Lake of the Pines. It's one of Boulder's
01:19:50.369 --> 01:19:55.529
only gated communities and also one that is developed
01:19:55.529 --> 01:19:59.529
around this private lake. It is spectacular.
01:19:59.630 --> 01:20:01.609
I've been there, oh, I don't know, probably a
01:20:01.609 --> 01:20:03.770
dozen times in 20 years to look at real estate.
01:20:04.289 --> 01:20:06.970
And all of the homes are architecturally distinct.
01:20:07.409 --> 01:20:09.750
When the market's weak, it's a fantastic time
01:20:09.750 --> 01:20:12.510
to buy this spot. Fire risk has continued to
01:20:12.510 --> 01:20:14.609
grow, so I'm sure insurability is a factor for
01:20:14.609 --> 01:20:16.890
this property, like it is for anything that is
01:20:16.890 --> 01:20:18.689
in the lower foothills or in the mountains at
01:20:18.689 --> 01:20:21.090
all. But this particular house is sitting on
01:20:21.090 --> 01:20:24.250
a full acre of land over 3000 square foot from
01:20:24.250 --> 01:20:28.590
the main house. It has interesting, I think it
01:20:28.590 --> 01:20:31.329
was like a gazebo or boathouse or something that
01:20:31.329 --> 01:20:34.449
is right on the water. It's the first time the
01:20:34.449 --> 01:20:37.050
property has been on the market since the 1970s.
01:20:37.689 --> 01:20:41.310
Since I think it was built. The home itself was
01:20:41.310 --> 01:20:43.710
built in 73. I went down the rabbit hole a little
01:20:43.710 --> 01:20:46.130
bit into whom the seller was. And it seems like.
01:20:46.760 --> 01:20:48.800
entertaining and living in this home was like
01:20:48.800 --> 01:20:52.079
a joy. And where else are you going to get waterfront
01:20:52.079 --> 01:20:54.619
access, mountain access, and be able to be in
01:20:54.619 --> 01:20:57.619
the city of Boulder in about 20 minutes or less?
01:20:58.119 --> 01:21:03.420
I mean, traffic has grown on the highway. So
01:21:03.420 --> 01:21:07.079
this, I mean, 1970s home. And you can look at
01:21:07.079 --> 01:21:09.300
the photos and everything. It's clearly 1970s.
01:21:09.300 --> 01:21:11.140
It's charming with the window designs and everything.
01:21:11.899 --> 01:21:17.619
Sold for $3 .682 ,750. funky number do you think
01:21:17.619 --> 01:21:24.180
they're scraping this it's possible i mean you
01:21:24.180 --> 01:21:26.199
could build whatever you want on this lot and
01:21:26.199 --> 01:21:28.460
but i think the lot size lot i think the lot
01:21:28.460 --> 01:21:32.100
value was not 3 .6 so i i doubt they're scraping
01:21:32.100 --> 01:21:34.760
it the whole interior of the house needs to be
01:21:34.760 --> 01:21:37.140
gutted and redone so they probably have a million
01:21:37.140 --> 01:21:39.439
dollar budget to redo the house the house okay
01:21:39.439 --> 01:21:42.119
that's my guess um i think the architecture from
01:21:42.119 --> 01:21:44.880
the 70s is still interesting enough um that they
01:21:44.880 --> 01:21:46.859
will keep some of it i don't think they'll scrape
01:21:46.859 --> 01:21:50.319
it yeah and then yeah fire risk the last time
01:21:50.319 --> 01:21:53.420
we covered a lake of pines neighborhood sale
01:21:53.420 --> 01:21:58.039
um that house was the siding was um i don't know
01:21:58.039 --> 01:21:59.920
what to call it it's the logs it looks like a
01:21:59.920 --> 01:22:02.619
log cabin kind of lincoln log um though they'd
01:22:02.619 --> 01:22:06.180
done fire mitigation from what it appeared i
01:22:06.180 --> 01:22:08.619
think they cut away a lot of the brush surrounding
01:22:08.619 --> 01:22:11.319
the home this one that aerial photo showing the
01:22:11.319 --> 01:22:15.949
property boundary i mean It was in vogue to have
01:22:15.949 --> 01:22:17.850
your house nestled right up against trees and
01:22:17.850 --> 01:22:20.569
bushes. Well, it's not just that the whole house
01:22:20.569 --> 01:22:23.449
needs to be hardened. Yeah. And so I would think
01:22:23.449 --> 01:22:25.529
that if you're investing 3 .6, you're going to
01:22:25.529 --> 01:22:28.750
put a lot of money into hardening the home for
01:22:28.750 --> 01:22:31.949
fire risk, which includes residing at different
01:22:31.949 --> 01:22:34.430
roof and removing a lot of the most combustible
01:22:34.430 --> 01:22:36.630
trees, which, you know, based on the coloring
01:22:36.630 --> 01:22:38.609
looks like maybe even juniper really close to
01:22:38.609 --> 01:22:42.250
the house. Yeah. Yeah, there's the city of Boulder
01:22:42.250 --> 01:22:44.550
juniper removal thing, isn't there? This is Boulder
01:22:44.550 --> 01:22:47.710
County. Yeah, you're right. And then, sorry,
01:22:47.970 --> 01:22:51.449
Lake of Pines neighborhood, I'm sure there are
01:22:51.449 --> 01:22:53.609
some higher square footage homes in the neighborhood.
01:22:53.710 --> 01:22:57.510
So that Boulder County size development rule,
01:22:57.729 --> 01:23:01.609
you still have some room to grow. Probably. I
01:23:01.609 --> 01:23:03.010
mean, that should be part of your due diligence
01:23:03.010 --> 01:23:05.430
is what's the maximum size you could do for a
01:23:05.430 --> 01:23:07.739
build out. And given this property was on the
01:23:07.739 --> 01:23:10.039
market for 68 days, right? Originally listed
01:23:10.039 --> 01:23:13.119
it at four. They didn't change the price listed
01:23:13.119 --> 01:23:16.060
in June for four. And then they accepted this
01:23:16.060 --> 01:23:18.239
significantly lower offer, but not, you know,
01:23:18.260 --> 01:23:20.479
not outside of the realm of what's typical, right?
01:23:20.560 --> 01:23:24.619
So above 3 million seasoned or stale listing,
01:23:24.720 --> 01:23:27.819
10 % is not an uncommon discount, particularly
01:23:27.819 --> 01:23:31.899
for a closing in September. But one of the pieces
01:23:31.899 --> 01:23:33.520
of due diligence you should always be doing.
01:23:34.159 --> 01:23:36.939
is check with the county on the build -out feasibility
01:23:36.939 --> 01:23:40.380
because there's a moratorium on large homes and
01:23:40.380 --> 01:23:44.100
that very much applies uh even if it's in a subdivision
01:23:44.100 --> 01:23:47.220
like this so i think oh you know maybe so there
01:23:47.220 --> 01:23:51.180
i take that back i'm not 100 sure how the subdivision
01:23:51.180 --> 01:23:53.739
plays out relative to unincorporated boulder
01:23:53.739 --> 01:23:57.239
county because this is it was platted there may
01:23:57.239 --> 01:23:59.279
be different rules that apply so this is this
01:23:59.279 --> 01:24:01.859
is even after 20 plus years of doing real estate
01:24:01.859 --> 01:24:04.310
here in boulder I would check with the county
01:24:04.310 --> 01:24:08.569
and I would cross -reference anything that's
01:24:08.569 --> 01:24:11.050
recorded in title for restrictions on what, like
01:24:11.050 --> 01:24:12.869
there's probably a design review committee that
01:24:12.869 --> 01:24:15.449
could be more onerous than the size limits. Were
01:24:15.449 --> 01:24:18.689
you representing the buyer? Absolutely. Well,
01:24:18.710 --> 01:24:20.250
even representing the seller, you want to have
01:24:20.250 --> 01:24:21.890
an understanding of that because guess what?
01:24:21.890 --> 01:24:23.710
The buyer's agent, if they're smart, are going
01:24:23.710 --> 01:24:25.250
to ask you these questions. But if they're not
01:24:25.250 --> 01:24:28.590
and the buyer wants to know, you can, like you
01:24:28.590 --> 01:24:32.520
did for opinion. You know, you had the architectural,
01:24:32.680 --> 01:24:34.300
yeah, the feasibility. A feasibility study would
01:24:34.300 --> 01:24:37.880
be smart by pay for it and have an architect
01:24:37.880 --> 01:24:41.420
that's reputable and works in this location be
01:24:41.420 --> 01:24:44.840
the one doing the feasibility study. All right,
01:24:44.960 --> 01:24:47.699
8835 Pine Cone Lane, the one I screwed up earlier
01:24:47.699 --> 01:24:50.539
and told you was in Table Mesa, is in Niwot and
01:24:50.539 --> 01:24:52.920
is a completely different deal. And this does,
01:24:53.159 --> 01:24:58.010
sorry, I said it was in Louisville. And the reason
01:24:58.010 --> 01:24:59.529
I said it was in Louisville is I thought I was
01:24:59.529 --> 01:25:01.270
confused with the addresses. This particular
01:25:01.270 --> 01:25:04.770
property, I think, is a great comparison to what
01:25:04.770 --> 01:25:07.409
you could potentially buy in Table Mesa. Because
01:25:07.409 --> 01:25:09.949
school performance is very similar, and yet you
01:25:09.949 --> 01:25:13.109
get a giant lot, 30 ,000 square feet, similar
01:25:13.109 --> 01:25:17.050
vintage home, and a very, very functional layout,
01:25:17.289 --> 01:25:18.869
right? You've got a home that's mostly on the
01:25:18.869 --> 01:25:21.529
main. Ooh, is it? Hold on. It's got it. Yeah,
01:25:21.569 --> 01:25:23.949
mostly on the main. 1 ,800 on the main, and then
01:25:23.949 --> 01:25:28.069
you've got the remainder in the basement. So
01:25:28.069 --> 01:25:31.529
very functional and private and with fantastic
01:25:31.529 --> 01:25:35.029
public schools, a historic area that has some
01:25:35.029 --> 01:25:37.289
shopping. Actually, there's quite a few options
01:25:37.289 --> 01:25:39.449
in the Niwot Shopping Plaza, but the historic
01:25:39.449 --> 01:25:43.710
downtown area has a nice restaurant, has events
01:25:43.710 --> 01:25:46.210
during the summer that Rotary puts on with live
01:25:46.210 --> 01:25:49.189
music. It's a great spot. And so few people have
01:25:49.189 --> 01:25:52.420
heard of Niwot that when I see a deal that. is
01:25:52.420 --> 01:25:54.760
very similar in price to what you could buy in
01:25:54.760 --> 01:25:56.500
Table Mesa. I really feel like we should bring
01:25:56.500 --> 01:25:58.260
it to buyers' attention that these do exist,
01:25:58.479 --> 01:26:00.600
but they are few and far between, so you sometimes
01:26:00.600 --> 01:26:02.640
have to wait for them to appear. And when they
01:26:02.640 --> 01:26:04.640
do, you might need to move aggressively. And
01:26:04.640 --> 01:26:09.579
in this particular case, it was listed in August,
01:26:09.760 --> 01:26:14.539
mid -August, at the list price of 1 .575, and
01:26:14.539 --> 01:26:16.380
the buyer paid 10 grand more than the list to
01:26:16.380 --> 01:26:19.960
lock it down. Did they have any disclosed concessions?
01:26:20.489 --> 01:26:22.710
it looks like they got ten thousand dollars back
01:26:22.710 --> 01:26:25.289
so they basically paid list price uh for the
01:26:25.289 --> 01:26:28.550
house and the the contract had 10 grand higher
01:26:28.550 --> 01:26:30.149
than list but there was some sort of concession
01:26:30.149 --> 01:26:34.289
that resulted in a discount back to list um very
01:26:34.289 --> 01:26:36.329
well bought provided it's not in the flood plain
01:26:36.329 --> 01:26:38.590
and that's something that you know there's this
01:26:38.590 --> 01:26:41.069
there's this trail and ditch right there and
01:26:41.069 --> 01:26:42.649
i did not do the flood mapping for this particular
01:26:42.649 --> 01:26:49.090
property but irez unlike re colorado will has
01:26:49.090 --> 01:26:52.890
a flood plain field and it was listed at minimal
01:26:52.890 --> 01:26:54.569
risk. And I believe that to be the case for this
01:26:54.569 --> 01:26:57.109
location. So I think this is a fantastic house
01:26:57.109 --> 01:26:59.489
and a fantastic community. And NYWOT has a lot
01:26:59.489 --> 01:27:02.270
of way, much more expensive homes, right? You're
01:27:02.270 --> 01:27:04.630
not buying at the top of market remotely for
01:27:04.630 --> 01:27:07.090
NYWOT. This is, and it's kind of shocking, like
01:27:07.090 --> 01:27:10.689
the 0 .7 acre lot right next to the high school.
01:27:10.869 --> 01:27:14.470
We got any kiddos or anything. This is, yeah,
01:27:14.550 --> 01:27:18.569
if I had, you know, 1 .6 to spend. I would actually
01:27:18.569 --> 01:27:21.250
be rather upset to find out about this after
01:27:21.250 --> 01:27:24.069
I purchased in Table Mesa. If you were open to
01:27:24.069 --> 01:27:26.630
NYWOD. Right. And so it's a 70s era house. You
01:27:26.630 --> 01:27:28.210
can't get around that. But it looks like it's
01:27:28.210 --> 01:27:30.810
been thoroughly updated and doesn't look like
01:27:30.810 --> 01:27:33.560
a flip. With that said, there are some Ikea things
01:27:33.560 --> 01:27:36.260
in the house that look like Ikea cabinets and
01:27:36.260 --> 01:27:38.659
Ikea bathrooms, but most people find those pretty
01:27:38.659 --> 01:27:40.939
functional, and the warranty and quality of Ikea
01:27:40.939 --> 01:27:43.420
is actually not bad. Really handy. It's just
01:27:43.420 --> 01:27:45.699
some people kind of turn their nose at Ikea because
01:27:45.699 --> 01:27:48.399
it's perceived as mass market, and what they
01:27:48.399 --> 01:27:51.699
want is Ikea prices and bespoke finishes. Right,
01:27:51.699 --> 01:27:53.859
bespoke finishes, and that doesn't exist, so
01:27:53.859 --> 01:27:56.140
take your pick. I think this actually was a fantastic
01:27:56.140 --> 01:27:59.800
buy all day long. Four bedrooms, three baths.
01:27:59.800 --> 01:28:01.180
And you know, the funny thing is it's listed
01:28:01.180 --> 01:28:03.060
as a two car attached garage, but that garage
01:28:03.060 --> 01:28:06.239
has 576 square feet. And very detached from the
01:28:06.239 --> 01:28:09.239
photos. So quite frankly, that could have been
01:28:09.239 --> 01:28:12.760
almost a three car garage. Yeah. You said this
01:28:12.760 --> 01:28:15.619
before, but how quickly did it go? It went very
01:28:15.619 --> 01:28:18.939
quickly. Seven days on market and initially 10
01:28:18.939 --> 01:28:21.960
grand over list. But then you had to be ready,
01:28:22.039 --> 01:28:23.380
right? Like if you were sitting there hoping
01:28:23.380 --> 01:28:26.800
that you have plenty of time. Because the market's
01:28:26.800 --> 01:28:28.979
soft. This is an example of a well -bought house
01:28:28.979 --> 01:28:31.760
where you had basically two days, maybe three
01:28:31.760 --> 01:28:33.840
days, to figure out whether you wanted the house
01:28:33.840 --> 01:28:36.460
and what you were willing to offer. And somebody
01:28:36.460 --> 01:28:38.079
was able to get it effectively at list price,
01:28:38.199 --> 01:28:40.159
which I think is not reflective of a premium
01:28:40.159 --> 01:28:42.039
to market. I think that it was priced right.
01:28:42.920 --> 01:28:47.479
I think so, too. There are some very disciplined
01:28:47.479 --> 01:28:50.699
buyers that are always looking at the market
01:28:50.699 --> 01:28:53.939
for a particular street or neighborhood or home.
01:28:54.750 --> 01:28:57.989
And should the right property come up, I mean,
01:28:58.010 --> 01:28:59.989
you might not even get a chance to get your foot
01:28:59.989 --> 01:29:06.390
in the door. Yeah. All right. Our next one is
01:29:06.390 --> 01:29:11.510
909 Sunflower Street, Louisville. And this is
01:29:11.510 --> 01:29:14.670
one I wanted to contrast with the listing on
01:29:14.670 --> 01:29:17.050
Tyler last week, which is similar in size and
01:29:17.050 --> 01:29:19.430
function, but a home from the 90s that had been
01:29:19.430 --> 01:29:21.829
thoroughly updated. So this is a two -story that
01:29:21.829 --> 01:29:24.960
was rebuilt after the fire. Not rebuilt, but
01:29:24.960 --> 01:29:27.779
built from scratch. This is a new home. Which
01:29:27.779 --> 01:29:31.600
means it also had... We didn't talk about Tyler
01:29:31.600 --> 01:29:35.140
last week. We did. We just didn't say the address.
01:29:35.439 --> 01:29:44.560
Okay. What's our plan here? Cut out the... Tyler
01:29:44.560 --> 01:29:47.800
has closed. Has it? Yes. Oh, okay. Sweet. Let's
01:29:47.800 --> 01:29:50.399
go. Okay. So we can continue to talk about this.
01:29:50.960 --> 01:29:52.979
Tyler did sell at a pretty significant premium
01:29:52.979 --> 01:29:55.199
to the list price. Our clients were not going
01:29:55.199 --> 01:29:57.380
to go for that. But when you look at that delta
01:29:57.380 --> 01:30:00.340
between, I think it's 1976, Tyler. Let me get
01:30:00.340 --> 01:30:05.220
the address. I remember including a fun fact
01:30:05.220 --> 01:30:13.420
about the address. 1875. When did Alexander Graham
01:30:13.420 --> 01:30:16.819
patent the telephone? The address was 1876, Tyler.
01:30:16.979 --> 01:30:19.770
There we go. So that was a 2 ,900 square foot
01:30:19.770 --> 01:30:24.409
house that sold for 1 .327. And this is a...
01:30:24.409 --> 01:30:39.350
Okay, there we go. So this is a larger house,
01:30:39.449 --> 01:30:43.649
slightly, 3 ,000. Oh, hold on. Wrong fields.
01:30:44.680 --> 01:30:48.060
There we go. It's 3 ,600 square feet. So significantly
01:30:48.060 --> 01:30:50.319
larger, five bedroom, four bath with a three
01:30:50.319 --> 01:30:52.800
car attached garage. And of course it's not the
01:30:52.800 --> 01:30:54.779
same price, right? We're talking about 200 ,000
01:30:54.779 --> 01:30:58.380
more, 250 ,000 more. But I would venture that
01:30:58.380 --> 01:31:02.779
for most buyers with the financial capability
01:31:02.779 --> 01:31:05.619
of spending $200 ,000 more would get a lot more
01:31:05.619 --> 01:31:08.899
value for Sunflower. And you take some risk buying
01:31:08.899 --> 01:31:10.979
new build, right? Like all these systems in the
01:31:10.979 --> 01:31:15.500
house need to be Dialed in. Yeah. Dialed in.
01:31:15.579 --> 01:31:17.420
Yeah. Because they're brand new, right? Everything
01:31:17.420 --> 01:31:19.140
in the house is brand new. There may or may not
01:31:19.140 --> 01:31:22.340
be a warranty. It probably was built on spec.
01:31:22.439 --> 01:31:23.819
So we don't know anything about the particular
01:31:23.819 --> 01:31:27.100
builder, but it's somebody named Vons 50 LLC
01:31:27.100 --> 01:31:29.960
with a PO box for an address that's based in
01:31:29.960 --> 01:31:32.260
Louisville. I don't know if Vons 50 builds a
01:31:32.260 --> 01:31:34.520
lot of houses. I've never heard of Vons 50, but
01:31:34.520 --> 01:31:37.619
LLC is limited liability, not maximum liability.
01:31:37.960 --> 01:31:39.859
So keep that in mind that when you buy a brand
01:31:39.859 --> 01:31:42.060
new house, especially one that's built. by a
01:31:42.060 --> 01:31:45.020
spec builder hiding under an LLC that you may
01:31:45.020 --> 01:31:47.640
or may not have much liability because the only
01:31:47.640 --> 01:31:51.939
asset in the LLC is the property, right? So good
01:31:51.939 --> 01:31:54.039
luck trying to chase it down if there's issues.
01:31:54.180 --> 01:31:56.779
But a lot of that can be discovered on inspection.
01:31:57.760 --> 01:32:00.920
The choices they make in terms of finishes and
01:32:00.920 --> 01:32:05.640
fixtures. After 20 plus years in the industry,
01:32:05.699 --> 01:32:09.619
I will say that it's usually visible and obvious
01:32:09.619 --> 01:32:11.819
when a home has been built. to shoddy standards
01:32:11.819 --> 01:32:13.960
by somebody who's a hack and trying to make a
01:32:13.960 --> 01:32:16.340
lot of money. And I don't get that vibe on this
01:32:16.340 --> 01:32:17.880
particular house, but you couldn't really tell
01:32:17.880 --> 01:32:19.640
without a showing. The point I'm trying to make
01:32:19.640 --> 01:32:22.100
is that there's something happening in this market
01:32:22.100 --> 01:32:24.779
in Louisville where there's, there's a gap happening,
01:32:24.859 --> 01:32:26.579
right? Cause this house was on the market a long
01:32:26.579 --> 01:32:31.180
time. It was listed in February at 1 .625 and
01:32:31.180 --> 01:32:34.939
it didn't go under contract until August. So
01:32:34.939 --> 01:32:37.539
buyers had more than six months or almost six
01:32:37.539 --> 01:32:39.680
months to think about this one. And it ended
01:32:39.680 --> 01:32:42.399
up selling, Not that much below the last list
01:32:42.399 --> 01:32:45.640
price. They did drop the price in June to 1 .6.
01:32:45.819 --> 01:32:49.460
So it sold for $25 ,000 below list. But it really
01:32:49.460 --> 01:32:54.100
introduces an interesting location and age of
01:32:54.100 --> 01:32:57.659
home split. Would you rather have an older home
01:32:57.659 --> 01:32:59.640
that's been thoroughly updated but might have
01:32:59.640 --> 01:33:02.500
some lurking problems and arguably a better location?
01:33:03.039 --> 01:33:05.840
Or would you rather have a much newer home with
01:33:05.840 --> 01:33:09.300
a smaller lot? and where everything is brand
01:33:09.300 --> 01:33:12.100
new for a slight price premium. And I think with
01:33:12.100 --> 01:33:13.500
our buyers that we're actually going to talk
01:33:13.500 --> 01:33:15.899
about in a minute, this one introduces that kind
01:33:15.899 --> 01:33:20.819
of puzzle piece. And they for sure don't want
01:33:20.819 --> 01:33:24.279
completely dated and needs everything. We've
01:33:24.279 --> 01:33:26.880
discussed that scenario with them. So we're looking
01:33:26.880 --> 01:33:29.520
for that middle bowl of porridge, not that different
01:33:29.520 --> 01:33:34.119
from 1876 Tyler, and maybe not quite as... shiny
01:33:34.119 --> 01:33:37.960
sparkly spec homie as 909 sunflower yeah and
01:33:37.960 --> 01:33:39.039
i guess we're just going to go ahead and say
01:33:39.039 --> 01:33:40.880
it since we're in lessons from sales of the week
01:33:40.880 --> 01:33:43.359
but that's our shameless self -promotion as well
01:33:43.359 --> 01:33:47.359
that if you are yeah a potential seller of a
01:33:47.359 --> 01:33:50.100
family -friendly two -story house in lewisville
01:33:50.100 --> 01:33:54.279
that that is bridging this segment of the market
01:33:54.279 --> 01:33:56.199
you know the 90s era house that's been updated
01:33:56.199 --> 01:33:59.939
or the newer brand or newer home that is turnkey
01:33:59.939 --> 01:34:03.760
in this range of one point let's call it 1 .2
01:34:03.760 --> 01:34:07.239
to 1 .6 we've got a buyer for you that are fantastic
01:34:07.239 --> 01:34:09.279
people and we'd love to help them find a house
01:34:09.279 --> 01:34:11.619
they are prudent and they are disciplined so
01:34:11.619 --> 01:34:13.600
they were they're not going guns blazing into
01:34:13.600 --> 01:34:16.859
a bidding war but um they're they're reputable
01:34:16.859 --> 01:34:18.460
they're solid they've been members of the community
01:34:18.460 --> 01:34:20.300
for a long time we're just trying to find them
01:34:20.300 --> 01:34:22.140
the right place so if that happens to be you
01:34:22.140 --> 01:34:25.159
uh as an agent or as a seller don't hesitate
01:34:25.159 --> 01:34:26.600
to reach out we'd love to chat with you about
01:34:26.600 --> 01:34:29.260
what you got coming yeah the um listing agent
01:34:29.260 --> 01:34:33.779
for tyler I guess their kids went to the same
01:34:33.779 --> 01:34:36.960
kids as our clients' kids. And so they had a
01:34:36.960 --> 01:34:39.399
whole chat about it and everything. It was very
01:34:39.399 --> 01:34:42.079
cute. But they are in the community. It's a small
01:34:42.079 --> 01:34:44.399
town. And that's not uncommon that people know
01:34:44.399 --> 01:34:46.779
each other and then still have to navigate this
01:34:46.779 --> 01:34:49.850
complexity of selling a house. you know not there's
01:34:49.850 --> 01:34:52.390
sometimes multiple buyers and only one winner
01:34:52.390 --> 01:34:54.750
and i think there were a lot of buyers for this
01:34:54.750 --> 01:34:57.350
one like a lot of offers there was yeah i think
01:34:57.350 --> 01:35:00.270
i heard seven i'm not 100 sure that's based on
01:35:00.270 --> 01:35:03.069
a vague memory of a whisper number there were
01:35:03.069 --> 01:35:06.050
a lot of people so that also tells us that there
01:35:06.050 --> 01:35:09.409
are six other buyers uh in this market segment
01:35:09.409 --> 01:35:15.210
um so this uh this sunflower street home it turns
01:35:15.210 --> 01:35:18.579
out it's actually right next door to my old childhood
01:35:18.579 --> 01:35:20.920
friend's home of course it's the marshall fire
01:35:20.920 --> 01:35:24.800
rebuild area in this particular spot of lewisville
01:35:24.800 --> 01:35:27.819
i mean it's it's in a good this is this is established
01:35:27.819 --> 01:35:31.760
street and lot lines um it's right by harper
01:35:31.760 --> 01:35:35.880
lake though it is in subjectively and personally
01:35:35.880 --> 01:35:37.739
to me a little bit more of a kind of suburban
01:35:37.739 --> 01:35:40.859
feel area and you brought up location and stuff
01:35:40.859 --> 01:35:44.220
where tyler tyler's lot was funky because it
01:35:44.220 --> 01:35:47.409
was kind of squished against uh squished into
01:35:47.409 --> 01:35:50.770
the corner but it did kind of abut open space
01:35:50.770 --> 01:35:53.729
in the louisville res so i'm with you though
01:35:53.729 --> 01:35:57.649
i think this new build value um granted check
01:35:57.649 --> 01:35:59.829
into the warranty and all the standard due diligence
01:35:59.829 --> 01:36:02.430
but it's a good one to bring up to compare and
01:36:02.430 --> 01:36:05.390
contrast yeah i also one last thing about this
01:36:05.390 --> 01:36:07.869
particular house i think the color scheme is
01:36:07.869 --> 01:36:11.369
spot on in the interior yes like this choice
01:36:11.369 --> 01:36:14.189
of you know color changes by the angle but it's
01:36:14.189 --> 01:36:18.699
sort of a pale green like a moss green that is
01:36:18.699 --> 01:36:21.640
has got some creaminess to it is a very popular
01:36:21.640 --> 01:36:24.119
look right now you know that's sophie's sage
01:36:24.119 --> 01:36:27.199
i think it looks very similar to like the what
01:36:27.199 --> 01:36:30.699
do you mean sophie sage sophie's um the audi
01:36:30.699 --> 01:36:32.619
sophie just got oh the car she bought yeah oh
01:36:32.619 --> 01:36:35.140
yeah and then but also like i think sage is just
01:36:35.140 --> 01:36:37.500
in like you're saying i mean she's so spot on
01:36:37.500 --> 01:36:39.560
with colors and design so it doesn't surprise
01:36:39.560 --> 01:36:41.920
me that she chose a color car that's the color
01:36:41.920 --> 01:36:44.819
uh you know super popular color But what's also
01:36:44.819 --> 01:36:47.960
super interesting, Hamish, is when you look at
01:36:47.960 --> 01:36:51.100
the photos of the kitchen, there are at least
01:36:51.100 --> 01:36:53.859
three different color values that I see based
01:36:53.859 --> 01:36:57.560
on the color correction of the photographer.
01:36:57.859 --> 01:36:59.800
And I'm going to give this photographer a D -
01:36:59.800 --> 01:37:02.260
for that because that's really bad. It should
01:37:02.260 --> 01:37:04.420
be the same. That's the one thing you've got
01:37:04.420 --> 01:37:07.560
to be paying attention for. You need that visual
01:37:07.560 --> 01:37:10.279
consistency. And I wonder if they were doing
01:37:10.279 --> 01:37:12.359
the same thing. The first pass that I'll do is
01:37:12.359 --> 01:37:15.680
I'll look ambient. because the whites look similar
01:37:15.680 --> 01:37:18.220
and then at that point i would be so bothered
01:37:18.220 --> 01:37:20.439
because i'm like why on earth is the island changing
01:37:20.439 --> 01:37:22.899
colors on me and i would probably end up masking
01:37:22.899 --> 01:37:25.920
it and and adjusting it but yeah that's 100 a
01:37:25.920 --> 01:37:28.199
detail so i take it back i said these colors
01:37:28.199 --> 01:37:30.079
are spot on but the truth is i'm not even sure
01:37:30.079 --> 01:37:32.779
what color this island is because every photo
01:37:32.779 --> 01:37:34.960
is dark green over here yeah it's like an army
01:37:34.960 --> 01:37:37.600
olive every photo it's a different color so i
01:37:37.600 --> 01:37:39.739
take it back i don't really know i think it's
01:37:39.739 --> 01:37:42.890
a popular color It's a psyop to get us in the
01:37:42.890 --> 01:37:46.989
house for a show. It might be. Yeah. But I will
01:37:46.989 --> 01:37:49.210
say the one photo with it at an angle where it
01:37:49.210 --> 01:37:51.430
looks that creamy sage is, I think very popular
01:37:51.430 --> 01:37:53.970
as a color, but who knows? And then the bathroom
01:37:53.970 --> 01:37:56.310
vanity seemed to be the same. That seems to exactly.
01:37:56.529 --> 01:37:59.010
I think that's the real color of this house or
01:37:59.010 --> 01:38:03.090
of this kitchen Island, but wouldn't know. Right.
01:38:03.189 --> 01:38:07.119
I have to go see it. It's a mystery. Yeah. All
01:38:07.119 --> 01:38:10.600
right. Our last sale of the week is 2335 Dartmouth
01:38:10.600 --> 01:38:13.760
Avenue. And this is a property that directly
01:38:13.760 --> 01:38:17.560
abuts federally owned land. It is not legally
01:38:17.560 --> 01:38:21.060
open space. And that's something that I think
01:38:21.060 --> 01:38:23.659
is really important to understand in this location,
01:38:23.840 --> 01:38:25.840
even though it's unlikely to ever be developed.
01:38:26.979 --> 01:38:29.899
We all know that the federal government is in
01:38:29.899 --> 01:38:34.239
financial distress, so it may be selling all
01:38:34.239 --> 01:38:36.949
sorts of assets in the future. It's not. It's
01:38:36.949 --> 01:38:40.329
inconceivable that the current administration
01:38:40.329 --> 01:38:44.029
would relocate NIST and sell this entire thing.
01:38:44.270 --> 01:38:46.109
Sure, you might give them the idea with this
01:38:46.109 --> 01:38:48.789
pod. I'm sure they've already considered it because
01:38:48.789 --> 01:38:51.390
it would be worth so much. But assuming NIST
01:38:51.390 --> 01:38:55.189
is staying and what looks like open space but
01:38:55.189 --> 01:38:58.109
isn't continues to function like open space,
01:38:58.329 --> 01:39:01.210
this location is pretty special. I have run up
01:39:01.210 --> 01:39:05.000
the social trail. that's directly to the north
01:39:05.000 --> 01:39:07.680
of this directly behind the house hundreds of
01:39:07.680 --> 01:39:11.279
times with my dog and it's a fantastic running
01:39:11.279 --> 01:39:13.500
trail right up on the kohler mesa and then into
01:39:13.500 --> 01:39:16.319
enchanted mesa with beautiful views and then
01:39:16.319 --> 01:39:18.560
you're you can even connect right to chautauqua
01:39:18.560 --> 01:39:21.119
if you want to that was one of our favorite hikes
01:39:21.119 --> 01:39:23.840
when my wife and i lived there to do that hike
01:39:23.840 --> 01:39:26.380
and then end up at a happy hour at the chautauqua
01:39:26.380 --> 01:39:28.899
dining hall or catch a show and turn like an
01:39:28.899 --> 01:39:31.520
outdoor hike into like something else entirely
01:39:31.520 --> 01:39:34.399
a mode of transportation and so the houses that
01:39:34.399 --> 01:39:38.340
have this backing backing to the um to the federal
01:39:38.340 --> 01:39:41.840
land have really beautiful views although some
01:39:41.840 --> 01:39:43.760
of them are also going to have views of the federal
01:39:43.760 --> 01:39:45.659
buildings right like it's a question of where
01:39:45.659 --> 01:39:49.359
are you um on on dartmouth but some of them are
01:39:49.359 --> 01:39:52.539
spectacular so this particular house was listed
01:39:52.539 --> 01:39:56.260
on september 6th okay so this is only a couple
01:39:56.260 --> 01:39:59.810
of weeks ago okay yeah as coming soon The day
01:39:59.810 --> 01:40:02.350
after it went active, it went to pending. So
01:40:02.350 --> 01:40:04.590
somebody lobbed in a really strong offer, and
01:40:04.590 --> 01:40:06.010
you could see what they offered because that's
01:40:06.010 --> 01:40:11.550
what it closed for. They went $206 ,001 over
01:40:11.550 --> 01:40:17.409
the list price, which is astonishing. And likely
01:40:17.409 --> 01:40:20.090
they've been looking for years because to be
01:40:20.090 --> 01:40:24.710
that confident on valuation, you really have
01:40:24.710 --> 01:40:28.319
to move fast, right? Look, the house itself was
01:40:28.319 --> 01:40:30.239
built in the 50s. This is nothing special. It's
01:40:30.239 --> 01:40:32.899
a 3 ,000 square foot house, has all the problems
01:40:32.899 --> 01:40:35.100
of the homes built in the 50s. The lot is really,
01:40:35.180 --> 01:40:38.119
I think, what these people bought. And so forget
01:40:38.119 --> 01:40:41.739
the house, 8 ,000 square foot lot, and you could
01:40:41.739 --> 01:40:43.739
scrape it and build what you want. And you could
01:40:43.739 --> 01:40:46.060
probably build a pretty sizable home here and
01:40:46.060 --> 01:40:48.939
have that direct access to the backyard access
01:40:48.939 --> 01:40:53.739
to the trail system. At 1 .2, I think it's probably
01:40:53.739 --> 01:40:56.359
about right for the land alone. So we can almost
01:40:56.359 --> 01:40:58.479
ignore the house itself, but let's talk about
01:40:58.479 --> 01:41:01.819
the house. Ranch style with a basement, I believe.
01:41:02.060 --> 01:41:04.340
Yep, with a basement. So $1 ,500 on the main,
01:41:04.460 --> 01:41:07.100
$1 ,500 basement. Some updates, you know, the
01:41:07.100 --> 01:41:09.659
fireplace surround, but mostly looking like 50s
01:41:09.659 --> 01:41:12.600
original, right? Somehow solar, or for some reason
01:41:12.600 --> 01:41:14.560
they've got solar on there. They've got a nice
01:41:14.560 --> 01:41:16.779
covered patio, which if you've ever had one is
01:41:16.779 --> 01:41:19.859
a real perk. There's some updates in here that
01:41:19.859 --> 01:41:22.479
are not from the 50s, might be 80s or 90s. But
01:41:22.479 --> 01:41:25.500
look, the entire interior is almost... what we
01:41:25.500 --> 01:41:27.260
affectionately would call a scrape back when
01:41:27.260 --> 01:41:29.539
i got started in real estate today we can't call
01:41:29.539 --> 01:41:31.199
it a scrape because the city of boulder requires
01:41:31.199 --> 01:41:34.279
you to deconstruct so the real purchase price
01:41:34.279 --> 01:41:36.640
assuming that's what they're going to do is the
01:41:36.640 --> 01:41:40.020
value of the house plus deconstruction costs
01:41:40.020 --> 01:41:41.880
so the value of the land plus deconstruction
01:41:41.880 --> 01:41:45.039
costs right but these box on a box ranch style
01:41:45.039 --> 01:41:48.399
houses are still really good platforms for doing
01:41:48.399 --> 01:41:51.340
what we call a pop top right like you you take
01:41:51.340 --> 01:41:53.699
it down to the studs you add a trust to increase
01:41:53.699 --> 01:41:57.909
the the main level ceiling height. So you go
01:41:57.909 --> 01:41:59.590
from eight foot ceilings to 10 foot ceilings,
01:41:59.590 --> 01:42:01.670
and then you build a second story. There have
01:42:01.670 --> 01:42:03.869
been so many versions of that, although most
01:42:03.869 --> 01:42:06.609
don't do the truss, they should. That's a huge
01:42:06.609 --> 01:42:11.130
upgrade. And this location will easily support
01:42:11.130 --> 01:42:14.170
the value of that type of project. Or maybe these
01:42:14.170 --> 01:42:15.850
people are just going to live in it. But they
01:42:15.850 --> 01:42:17.789
certainly didn't hesitate to go really strong
01:42:17.789 --> 01:42:20.630
on the price, 200 grand over list, and now sets
01:42:20.630 --> 01:42:25.720
the comp value, right? So this, I think, I maybe
01:42:25.720 --> 01:42:27.880
they look, I got to say, I'm not crazy about
01:42:27.880 --> 01:42:31.359
spending 200 grand over list. But that might
01:42:31.359 --> 01:42:34.359
be market. They might be right. And if they're
01:42:34.359 --> 01:42:36.680
planning to hold it for a 10 year or 15 year
01:42:36.680 --> 01:42:40.539
hold, even if they paid 100 grand more than the
01:42:40.539 --> 01:42:43.340
list, look, dollars are depreciating. This is
01:42:43.340 --> 01:42:46.279
not one where unlike that one. So this is the
01:42:46.279 --> 01:42:47.800
difference, right? We earlier in the podcast,
01:42:47.859 --> 01:42:50.079
we talked about in our Tales from the Trench,
01:42:50.079 --> 01:42:52.579
a property where somebody lost $300 ,000 because
01:42:52.579 --> 01:42:55.880
two years later. four years later they had to
01:42:55.880 --> 01:42:58.779
sell it and they sold it into a downward moving
01:42:58.779 --> 01:43:01.600
market and honestly the house was nothing special
01:43:01.600 --> 01:43:05.079
right this location is something special and
01:43:05.079 --> 01:43:07.600
it supports a proper build out of an amazing
01:43:07.600 --> 01:43:11.279
luxury home so i think that they're like i don't
01:43:11.279 --> 01:43:13.020
think this is going to be a loser for these people
01:43:13.020 --> 01:43:14.920
i think they're going to build a beautiful home
01:43:14.920 --> 01:43:16.960
on it whether it's a restoration or second story
01:43:16.960 --> 01:43:19.140
pop -top or they're going to take it down they're
01:43:19.140 --> 01:43:20.939
going to remove it and build an entirely new
01:43:20.939 --> 01:43:24.710
home i This is not a money loser. This is a location
01:43:24.710 --> 01:43:27.409
that supports the 1 .2. Yeah, I'm completely
01:43:27.409 --> 01:43:29.550
with you. I was a little critical when I looked
01:43:29.550 --> 01:43:32.850
at it before we recorded this pod. There is,
01:43:32.850 --> 01:43:35.050
along Dartmouth in the Highland Park, you've
01:43:35.050 --> 01:43:38.310
got Kenwood Drive and Norton Street that connect
01:43:38.310 --> 01:43:41.869
you to Kohler. And so I had originally thought
01:43:41.869 --> 01:43:44.569
that this was right at the intersection of Dartmouth
01:43:44.569 --> 01:43:47.880
and Kenwood Drive. and that sees traffic all
01:43:47.880 --> 01:43:50.260
the time yep as you move further west you know
01:43:50.260 --> 01:43:51.880
the quieter it's going to be the further up the
01:43:51.880 --> 01:43:54.539
hill you'll be um and yeah that's where i was
01:43:54.539 --> 01:43:57.760
critical but genuinely this should be a reasonably
01:43:57.760 --> 01:44:01.159
or if not um pretty quiet little street and it's
01:44:01.159 --> 01:44:03.680
a nice little hill you know you look up you look
01:44:03.680 --> 01:44:06.500
along the street and it kind of reminds you of
01:44:06.500 --> 01:44:10.750
70s neighborhoods The design in a lot of the
01:44:10.750 --> 01:44:12.890
homes have been updated, but the wide streets
01:44:12.890 --> 01:44:15.109
and the cars and the kids on the bicycles and
01:44:15.109 --> 01:44:19.050
everything, it's a great spot. The power lines
01:44:19.050 --> 01:44:21.310
on the back, I mean, those are big old transmission.
01:44:21.869 --> 01:44:24.130
No, I think they're neighborhood lines. Yeah,
01:44:24.250 --> 01:44:26.409
just neighborhood lines. I mean, this is Highland
01:44:26.409 --> 01:44:28.649
Park, so you know this. We've done a whole video.
01:44:28.829 --> 01:44:31.050
Actually, Ian did a whole video on Highland Park
01:44:31.050 --> 01:44:33.390
and the advantages of this location, the history
01:44:33.390 --> 01:44:37.020
of this location. It is truly something special.
01:44:37.319 --> 01:44:40.340
The one thing that, without being on the ground,
01:44:40.399 --> 01:44:44.020
that I would like to see is exactly what happens
01:44:44.020 --> 01:44:48.319
when you go up. Are you facing ugly federal buildings,
01:44:48.380 --> 01:44:50.739
or can you orient away from that and actually
01:44:50.739 --> 01:44:53.319
see the flat irons? I think they're further enough
01:44:53.319 --> 01:44:55.460
west that you see the flat irons, but I'm not
01:44:55.460 --> 01:44:57.520
sure without actually standing on the roof or
01:44:57.520 --> 01:44:59.319
popping up our drone to go see what the view
01:44:59.319 --> 01:45:00.840
looks like if you were standing on the roof,
01:45:00.859 --> 01:45:03.289
because that's where the money is. I mean, to
01:45:03.289 --> 01:45:05.569
speculate, right, I don't think you're seeing
01:45:05.569 --> 01:45:08.770
the flat irons, but I don't think you're looking
01:45:08.770 --> 01:45:10.470
at ugly federal either. You might be looking
01:45:10.470 --> 01:45:13.010
over some nice grasslands. Yeah, I think you're
01:45:13.010 --> 01:45:14.890
far enough west that you're past the big federal
01:45:14.890 --> 01:45:17.229
buildings. Yeah. Just keep in mind that it's
01:45:17.229 --> 01:45:18.949
not risk -free, okay? Like I just said in the
01:45:18.949 --> 01:45:21.250
beginning of this, the feds could sell this land,
01:45:21.369 --> 01:45:23.590
and Boulder could protest all it wants, but the
01:45:23.590 --> 01:45:26.149
feds will do what they want. And so this could
01:45:26.149 --> 01:45:28.930
be one of the largest future infill developments
01:45:28.930 --> 01:45:32.880
in recent Boulder history. Um, I don't think
01:45:32.880 --> 01:45:34.840
it's going to happen. I'm not predicting that,
01:45:34.920 --> 01:45:36.680
but let's face it. The administration has had
01:45:36.680 --> 01:45:40.220
science in its, you know, in its crosshairs for
01:45:40.220 --> 01:45:43.939
it's, and it's, it, it really has punished places
01:45:43.939 --> 01:45:47.500
like Boulder for its support of democratic candidates.
01:45:47.579 --> 01:45:50.699
And, and so it would not surprise like they've
01:45:50.699 --> 01:45:54.060
targeted, you know, Noah, um, I've not heard
01:45:54.060 --> 01:45:57.600
of NIST being targeted, but I just. I wouldn't
01:45:57.600 --> 01:45:59.819
be surprised. I would not be. Nothing surprises
01:45:59.819 --> 01:46:02.720
me about this administration. So it's not a zero
01:46:02.720 --> 01:46:05.420
risk. That's what I have to say. We looked at
01:46:05.420 --> 01:46:07.800
a home on the same street, if I'm remembering
01:46:07.800 --> 01:46:12.579
correctly, that had a very wonky attached carport
01:46:12.579 --> 01:46:15.359
garage conversion. I'm not sure if you remember
01:46:15.359 --> 01:46:17.479
that at all. It's from actually the same. We
01:46:17.479 --> 01:46:19.159
looked at it with the same buyers that bought
01:46:19.159 --> 01:46:20.520
in that Chautauqua neighborhood. It was right
01:46:20.520 --> 01:46:22.600
next to the creek drainage. That's right. That's
01:46:22.600 --> 01:46:24.119
why we didn't pursue that one, because there
01:46:24.119 --> 01:46:28.449
was a lot of uncertainty over. how that farmer's
01:46:28.449 --> 01:46:30.829
ditch disappears right here. How does this work
01:46:30.829 --> 01:46:33.569
in terms of future development, right? There's
01:46:33.569 --> 01:46:35.789
a giant water grate there and where's it going?
01:46:36.109 --> 01:46:38.390
And so this was, it was too much risk for our
01:46:38.390 --> 01:46:40.329
buyer of that particular property because of
01:46:40.329 --> 01:46:42.350
the drainage of the farmer's ditch. And this
01:46:42.350 --> 01:46:45.510
one not having it. Yeah, no. I was, yeah, I was
01:46:45.510 --> 01:46:48.829
initially very harsh about it, but after reviewing
01:46:48.829 --> 01:46:55.090
the location, good sale. Okay. Animated, exciting.
01:46:57.559 --> 01:47:02.840
I'm thinking I'll do like a hot takes news segment.
01:47:03.800 --> 01:47:07.180
Oh, I see what you're doing. Let's, let's talk
01:47:07.180 --> 01:47:09.819
about the news and these are our hot takes. So
01:47:09.819 --> 01:47:14.420
boy, the big one is what we introduced the podcast
01:47:14.420 --> 01:47:17.680
with. And that is the upcoming vote on all of
01:47:17.680 --> 01:47:21.880
these ballot issues. And the biggest one is this
01:47:21.880 --> 01:47:28.170
$400 million. permission to indebt our community
01:47:28.170 --> 01:47:31.949
for an additional 400 million dollars and quite
01:47:31.949 --> 01:47:35.930
frankly it's i some of these politicians are
01:47:35.930 --> 01:47:38.590
a little late to this game right like now that
01:47:38.590 --> 01:47:40.510
there's criticism like we've been criticizing
01:47:40.510 --> 01:47:43.789
this for like three months um so finally casey
01:47:43.789 --> 01:47:46.130
becker is coming out to say that uh you know
01:47:46.130 --> 01:47:48.210
against it that she's against the blank check
01:47:48.210 --> 01:47:51.270
and open boulder is i don't know how long this
01:47:51.270 --> 01:47:53.109
organization has existed i'm really grateful
01:47:53.109 --> 01:47:57.329
to see it And I'm super impressed with the white
01:47:57.329 --> 01:48:01.750
paper and the people that are involved with it.
01:48:01.810 --> 01:48:04.670
So I guess I should rather say, because it's
01:48:04.670 --> 01:48:06.689
bolder and I hate to be disappointed, that I'm
01:48:06.689 --> 01:48:09.149
cautiously optimistic that voters are going to
01:48:09.149 --> 01:48:13.189
send this one back to the ballot box and send
01:48:13.189 --> 01:48:15.930
it back to the drawing board. Because without
01:48:15.930 --> 01:48:18.369
accountability for what we have wasted our money
01:48:18.369 --> 01:48:20.350
on, how do we know they're not going to do it
01:48:20.350 --> 01:48:22.949
again? And I think the answer is they will do
01:48:22.949 --> 01:48:26.109
it again. You don't hand somebody that has shown
01:48:26.109 --> 01:48:29.229
a history of fiscal mismanagement a blank check
01:48:29.229 --> 01:48:32.149
to go do it again. A billion dollar check, you
01:48:32.149 --> 01:48:34.970
know. So that's the short, long and short of
01:48:34.970 --> 01:48:38.170
that. I do encourage people to read the white
01:48:38.170 --> 01:48:41.829
paper and to make their own decisions on this
01:48:41.829 --> 01:48:44.210
argument. That opinion piece is well written,
01:48:44.270 --> 01:48:48.090
too. And I think it kind of, what is it, embodies
01:48:48.090 --> 01:48:50.970
a pretty good point in which. At least from what
01:48:50.970 --> 01:48:53.130
it appeared and from reading that opinion article,
01:48:53.430 --> 01:48:56.810
Boulder used to be, I think, a lot more community
01:48:56.810 --> 01:49:02.050
involved and community listening. And it's like
01:49:02.050 --> 01:49:06.210
it's gotten too big for its britches in a sense,
01:49:06.289 --> 01:49:08.670
you know, and it's no longer listening. It's
01:49:08.670 --> 01:49:13.930
a I know better than you approach politics. And
01:49:13.930 --> 01:49:17.050
the season for the public opinion season, call
01:49:17.050 --> 01:49:20.869
it, for indebting yourself and issuing bonds
01:49:20.869 --> 01:49:23.590
and everything is over. I think fiscal responsibility
01:49:23.590 --> 01:49:27.369
is very top of mind for pretty much everyone,
01:49:27.529 --> 01:49:33.409
especially from the government. So I've never
01:49:33.409 --> 01:49:35.550
served on council. I don't think I would ever
01:49:35.550 --> 01:49:38.510
want to serve on council. It's not an easy job.
01:49:38.649 --> 01:49:43.229
They're constantly under attack. and embattled
01:49:43.229 --> 01:49:47.670
by the public i also wonder what type of people
01:49:47.670 --> 01:49:50.109
would want to run for council like because it
01:49:50.109 --> 01:49:53.909
seems to me that it's become a like a feather
01:49:53.909 --> 01:49:58.010
in their cap or an ego stone an ego thing or
01:49:58.010 --> 01:50:02.869
a stepping stone to um moving up to higher levels
01:50:02.869 --> 01:50:06.329
of government which casey becker did and i I
01:50:06.329 --> 01:50:08.789
like Casey. I've met her before. I don't think
01:50:08.789 --> 01:50:11.109
she was on council when council made the decision
01:50:11.109 --> 01:50:15.810
to buy Alpine Balsam in a very rushed process
01:50:15.810 --> 01:50:19.489
without any public process at all. It was a decision
01:50:19.489 --> 01:50:21.670
that was made quickly and the justification at
01:50:21.670 --> 01:50:24.649
the time, as I recall, was they were trying to
01:50:24.649 --> 01:50:26.569
scoop it before a private developer scooped it.
01:50:26.850 --> 01:50:29.029
And it turned out the city was the dumb money
01:50:29.029 --> 01:50:31.180
in the deal. The city didn't do a feasibility
01:50:31.180 --> 01:50:33.500
study. The city did not understand the cost of
01:50:33.500 --> 01:50:35.960
deconstruction of the hospital and all the asbestos
01:50:35.960 --> 01:50:38.079
that was in it. And now we have this building
01:50:38.079 --> 01:50:41.760
that we've, you know, the office space and what
01:50:41.760 --> 01:50:43.939
we paid for, the affordable housing, it appears
01:50:43.939 --> 01:50:47.180
to be, we paid 244 % more than market according
01:50:47.180 --> 01:50:49.479
to this white paper. Right. Which are, you know,
01:50:49.479 --> 01:50:52.000
these are back of the envelope comparisons. Okay.
01:50:52.060 --> 01:50:55.119
They averaged a bunch of price points to make
01:50:55.119 --> 01:50:57.359
a point, but for sure we paid a lot more than
01:50:57.359 --> 01:51:01.569
market. And I just, I think that our community
01:51:01.569 --> 01:51:04.189
is really smart and is not going to fall for
01:51:04.189 --> 01:51:07.630
this again. And so we need to clean up our government.
01:51:07.750 --> 01:51:11.489
We need more transparency and we need more accountability
01:51:11.489 --> 01:51:14.909
of what decisions were made along the way. I'm
01:51:14.909 --> 01:51:16.649
not saying people should be fired, but that sometimes
01:51:16.649 --> 01:51:19.590
is part of accountability. And when we compare
01:51:19.590 --> 01:51:22.989
ourselves as a city to Longmont, Longmont appears
01:51:22.989 --> 01:51:26.409
to be really well run. compared to boulder right
01:51:26.409 --> 01:51:28.109
and i made this joke to a friend of mine and
01:51:28.109 --> 01:51:30.930
client who we sold a home to in longmont and
01:51:30.930 --> 01:51:33.250
she loves her city government she thinks they're
01:51:33.250 --> 01:51:35.670
really making great decisions and she's a very
01:51:35.670 --> 01:51:38.689
astute follower of government i joked with her
01:51:38.689 --> 01:51:40.010
i'm like you know i really wish we could fire
01:51:40.010 --> 01:51:42.869
boulder and hire longmont to run boulder yeah
01:51:42.869 --> 01:51:45.170
because just like you fire a bad hoa manager
01:51:45.170 --> 01:51:47.789
we should be firing all of city government and
01:51:47.789 --> 01:51:49.489
hire longmont's government doubting the good
01:51:49.489 --> 01:51:51.970
run boulder please because you're doing a better
01:51:51.970 --> 01:51:56.279
job there was um i mean shoot and i say that
01:51:56.279 --> 01:51:58.060
i say that tongue -in -cheek that's a joke okay
01:51:58.060 --> 01:52:01.119
but but seriously like we need accountability
01:52:01.119 --> 01:52:03.859
and we need change in the city of boulder and
01:52:03.859 --> 01:52:05.800
i'm super excited to see other organizations
01:52:05.800 --> 01:52:08.859
and individuals see this particularly somebody
01:52:08.859 --> 01:52:16.579
um as what's the word as um who has the background
01:52:16.579 --> 01:52:22.140
of professionalism um as uh as terry brink again
01:52:22.140 --> 01:52:24.720
if i mispronounce your name terry i'm sorry but
01:52:24.720 --> 01:52:27.119
i'm super excited to see a cpa who's had your
01:52:27.119 --> 01:52:31.020
track record care and get involved and and be
01:52:31.020 --> 01:52:32.800
part of this organization that's trying to clean
01:52:32.800 --> 01:52:35.600
up our local government that's where i mean one
01:52:35.600 --> 01:52:38.319
of these things you'd hope is that you know our
01:52:38.319 --> 01:52:42.920
coverage uh having tara on the podcast um increasing
01:52:42.920 --> 01:52:48.670
mentions about the spending on reddit I cut and
01:52:48.670 --> 01:52:51.449
posted that $400 million segment from one of
01:52:51.449 --> 01:52:55.229
the earlier podcasts. One would think, one would
01:52:55.229 --> 01:52:58.989
hope that the democracy part of things in the
01:52:58.989 --> 01:53:00.689
city starts really listening. I mean, it's going
01:53:00.689 --> 01:53:05.109
on the ballot. We will see where Boulder ends
01:53:05.109 --> 01:53:08.329
up, but I think it's kind of becoming pretty
01:53:08.329 --> 01:53:12.510
clear that they're out of touch. Absolutely.
01:53:15.520 --> 01:53:19.060
Can I say my bad joke? Sure. Okay. It's ballot
01:53:19.060 --> 01:53:23.239
measure 2K. Well, why not ballot measure 400M?
01:53:24.119 --> 01:53:30.300
Okay. All right. 400 million K. Yeah. All right.
01:53:30.300 --> 01:53:35.239
All right. Next news item, BVSD passed the resilient
01:53:35.239 --> 01:53:38.460
schools proposal. No surprise. And there are
01:53:38.460 --> 01:53:40.079
people up in arms about it because they feel
01:53:40.079 --> 01:53:42.960
like there was very little public process that
01:53:42.960 --> 01:53:46.350
the BVSD. had made this decision. And even though
01:53:46.350 --> 01:53:48.710
they pretended to listen to the public afterward,
01:53:48.850 --> 01:53:51.649
they really weren't that it was a done deal.
01:53:51.689 --> 01:53:54.470
And sure enough, it passed very quickly. So I
01:53:54.470 --> 01:53:58.710
don't really know what else people expected BVSD
01:53:58.710 --> 01:54:02.029
to do. And it may be an imperfect proposal. And
01:54:02.029 --> 01:54:04.210
I know a lot of families are upset and maybe
01:54:04.210 --> 01:54:07.810
they rightfully should be. I'm just not surprised
01:54:07.810 --> 01:54:10.229
it passed. And other than the speed of which
01:54:10.229 --> 01:54:14.819
it passed. And I hope that BVSD. did not do a,
01:54:14.899 --> 01:54:18.399
so I've been part of businesses that had to go
01:54:18.399 --> 01:54:22.140
through cuts, had to do layoffs. And I wasn't
01:54:22.140 --> 01:54:24.899
in leadership, but I was directly adjacent and
01:54:24.899 --> 01:54:27.460
reporting to leadership. And one of the things
01:54:27.460 --> 01:54:29.420
that we saw as a pattern was they were doing
01:54:29.420 --> 01:54:32.479
death by a thousand paper cuts unintentionally,
01:54:32.479 --> 01:54:34.699
but clearly that's what they were doing instead
01:54:34.699 --> 01:54:38.180
of doing one and done. And one and done culturally
01:54:38.180 --> 01:54:41.180
works better because you can, you, you cut and
01:54:41.180 --> 01:54:44.119
you heal the wounded. people move on but death
01:54:44.119 --> 01:54:46.380
by a thousand paper cuts is a horrible strategy
01:54:46.380 --> 01:54:50.380
and i really hope bvsd did not do that with this
01:54:50.380 --> 01:54:53.779
particular approach because the trends that underlie
01:54:53.779 --> 01:54:56.319
why we're losing students are not going to change
01:54:56.319 --> 01:54:59.279
there's zero chance of boulder becoming radically
01:54:59.279 --> 01:55:01.279
affordable and attracting a bunch of young families
01:55:01.279 --> 01:55:03.960
who are we kidding so bvsd is going to continue
01:55:03.960 --> 01:55:06.439
to shrink and i hope that they considered that
01:55:06.439 --> 01:55:08.859
that this is a cut for 10 years or 15 years not
01:55:08.859 --> 01:55:11.239
a cut that we have to redo in three yeah and
01:55:11.239 --> 01:55:14.279
with that said fair point look bvsd and colorado
01:55:14.279 --> 01:55:18.699
in general has what has been described as a paradox
01:55:18.699 --> 01:55:21.819
with education because we are a state that spends
01:55:21.819 --> 01:55:24.920
far less than most and yet our schools outperform
01:55:24.920 --> 01:55:28.140
and bvsd schools have been really good most of
01:55:28.140 --> 01:55:30.079
our clients send their kids to public school
01:55:30.079 --> 01:55:32.939
which is not something that yeah affluent people
01:55:32.939 --> 01:55:35.159
across the country do And the reason is because
01:55:35.159 --> 01:55:36.680
our schools perform really well. And I really
01:55:36.680 --> 01:55:39.199
hope our schools continue to perform well. And
01:55:39.199 --> 01:55:42.380
they had to make hard decisions. I was not involved
01:55:42.380 --> 01:55:45.920
with that. But I think this is now past us. Right.
01:55:46.659 --> 01:55:49.000
You've got here Broomfield served by four districts.
01:55:49.560 --> 01:55:51.960
That was noted in a Reddit comment. And I did
01:55:51.960 --> 01:55:54.000
not know that. And I don't know if it's true.
01:55:54.260 --> 01:55:56.619
But you know Broomfield. And I didn't realize
01:55:56.619 --> 01:55:58.500
that there were four school districts that operate
01:55:58.500 --> 01:56:02.260
in Broomfield. I know two. And I'm thinking high
01:56:02.260 --> 01:56:04.119
school level. So maybe the other districts operate,
01:56:04.359 --> 01:56:07.079
you know, like K through 12 or whatever. Districts
01:56:07.079 --> 01:56:09.939
usually are the whole kit and caboodle. So Legacy
01:56:09.939 --> 01:56:11.579
High School and Broomfield High School are the
01:56:11.579 --> 01:56:15.560
two ones, Broomfield's rival with Legacy. The
01:56:15.560 --> 01:56:19.180
zoning was so funky. I lived less than a mile
01:56:19.180 --> 01:56:21.739
from the crow flies from Broomfield High School
01:56:21.739 --> 01:56:25.659
across the street, essentially. And I was zoned
01:56:25.659 --> 01:56:27.699
for Legacy High School instead of Broomfield
01:56:27.699 --> 01:56:30.250
High School. Broomfield High School was BVSD.
01:56:30.409 --> 01:56:33.010
My mom fought for open enrollment, so I would
01:56:33.010 --> 01:56:36.590
go into BVSD and be with BVSD because Legacy
01:56:36.590 --> 01:56:40.189
being Adams 12, we didn't like Adams 12 as much.
01:56:40.270 --> 01:56:42.210
My aunt actually worked for Adams 12 at Mountain
01:56:42.210 --> 01:56:44.909
View High School or Mountain Range. Granted,
01:56:44.909 --> 01:56:47.789
she wasn't working directly with the kids. But
01:56:47.789 --> 01:56:51.130
yeah, I knew Broomfield was too. And Broomfield
01:56:51.130 --> 01:56:53.850
being its own county, listening to our podcast
01:56:53.850 --> 01:56:58.329
last week, Yeah, Broomfield used to be Boulder
01:56:58.329 --> 01:57:00.390
County, and my grandpa actually has a license
01:57:00.390 --> 01:57:03.489
plate, one of the old Boulder license plates
01:57:03.489 --> 01:57:08.630
from when it was. And I don't know if Broomfield,
01:57:08.729 --> 01:57:12.350
what their plan is for school districts or kind
01:57:12.350 --> 01:57:14.430
of how that's going to go. I'd like to see BVSD
01:57:14.430 --> 01:57:17.510
stay in Broomfield. I think BVSD does a great
01:57:17.510 --> 01:57:21.670
job, and I was pretty happy to be educated under
01:57:21.670 --> 01:57:24.199
that school district. Also, you're more likely
01:57:24.199 --> 01:57:26.260
to get the snow days because BVSD was largely
01:57:26.260 --> 01:57:29.640
Boulder -oriented, and so you got more snow in
01:57:29.640 --> 01:57:31.520
Boulder. I like your student perspective on that.
01:57:32.020 --> 01:57:34.600
Once upon a time, being a student in the school
01:57:34.600 --> 01:57:36.600
district is helpful, but schools change over
01:57:36.600 --> 01:57:41.359
time. Our future is just going to be fewer schools.
01:57:41.939 --> 01:57:45.840
It's just written into it. Most people, even
01:57:45.840 --> 01:57:49.420
when they don't have kids in particular, schools
01:57:49.420 --> 01:57:51.539
are somewhat secondary to their decision process.
01:57:52.590 --> 01:57:56.149
But they shouldn't be. The schools clearly are
01:57:56.149 --> 01:57:59.510
correlated with real estate performance over
01:57:59.510 --> 01:58:03.689
time. And so I'm glad the schools that most of
01:58:03.689 --> 01:58:05.449
our clients are in, right? Most of our clients
01:58:05.449 --> 01:58:08.289
are Table Mesa and they're in the city of Boulder.
01:58:08.829 --> 01:58:11.449
I'm glad that we were able to keep one Table
01:58:11.449 --> 01:58:14.329
Mesa school, elementary school. They moved everyone
01:58:14.329 --> 01:58:16.609
into Bear Creek. Bear Creek will now be at like
01:58:16.609 --> 01:58:20.770
90 plus percent capacity. 97, 93. Which is fine.
01:58:23.239 --> 01:58:24.960
I don't know what's going to happen. This is
01:58:24.960 --> 01:58:27.140
the real estate angle. What's going to happen
01:58:27.140 --> 01:58:29.739
to Mesa Elementary? What happens to the school
01:58:29.739 --> 01:58:32.960
grounds at not just Mesa Elementary, but Community
01:58:32.960 --> 01:58:35.739
Montessori? Because I think Mesa is getting something
01:58:35.739 --> 01:58:39.479
else in there. But Community Montessori, there's
01:58:39.479 --> 01:58:41.220
no indication of what happens to that building
01:58:41.220 --> 01:58:44.500
and those grounds. And it's huge. It's a very
01:58:44.500 --> 01:58:48.420
large parcel. So those people that are on Yale
01:58:48.420 --> 01:58:50.039
and other streets that are directly adjacent
01:58:50.039 --> 01:58:54.300
to Community Montessori. this news should not
01:58:54.300 --> 01:58:56.600
just be about the school closing. This news might
01:58:56.600 --> 01:58:58.939
be about that building and that property being
01:58:58.939 --> 01:59:00.819
completely redeveloped within the next five years.
01:59:01.020 --> 01:59:04.300
Yeah. I'm with you too on the schools being kind
01:59:04.300 --> 01:59:08.020
of front of mind as far as real estate. And I
01:59:08.020 --> 01:59:11.399
see schools as vitality or like community investment.
01:59:11.760 --> 01:59:13.720
You know, I think they're really important to
01:59:13.720 --> 01:59:15.979
the health of a neighborhood or the health of
01:59:15.979 --> 01:59:20.189
an area. You can't have generational turnover
01:59:20.189 --> 01:59:25.350
in an area that kind of starts to die off. I
01:59:25.350 --> 01:59:27.250
don't know exactly what you mean by that. I know
01:59:27.250 --> 01:59:29.729
that there is generational turnover in every
01:59:29.729 --> 01:59:31.970
neighborhood. It kind of, they go in waves. Yeah.
01:59:32.170 --> 01:59:33.949
And that's why sometimes people get concerned
01:59:33.949 --> 01:59:35.829
that, wait, why are there three, four sale signs
01:59:35.829 --> 01:59:38.770
on the street? Well, because of how this was
01:59:38.770 --> 01:59:41.109
developed in waves, you get waves of people moving
01:59:41.109 --> 01:59:43.130
in and waves of people moving out. It's usually
01:59:43.130 --> 01:59:46.960
coincidence, but we should note it. right is
01:59:46.960 --> 01:59:49.199
part of our due diligence once you're under contract
01:59:49.199 --> 01:59:51.239
let's find out if there's something weird going
01:59:51.239 --> 01:59:53.659
on like is everyone leaving because there's underlying
01:59:53.659 --> 01:59:57.039
gas leaks or you know is there like we're heading
01:59:57.039 --> 01:59:59.380
in a spooky season is there like a poltergeist
01:59:59.380 --> 02:00:01.779
situation happening here what's happening it's
02:00:01.779 --> 02:00:03.899
causing everyone to leave at the same time usually
02:00:03.899 --> 02:00:06.600
it's just these generational waves yeah and that's
02:00:06.600 --> 02:00:09.380
it and i tested that against myself after i said
02:00:09.380 --> 02:00:11.880
it and i was like well downtowns are like youths
02:00:11.880 --> 02:00:14.239
right like downtowns of cities and stuff it's
02:00:14.239 --> 02:00:18.729
usually younger college no anyway i mean i don't
02:00:18.729 --> 02:00:21.289
know it depends on the city right so if you've
02:00:21.289 --> 02:00:23.149
talked about the city of boulder downtown is
02:00:23.149 --> 02:00:24.930
elderly people because that's where mapleton
02:00:24.930 --> 02:00:26.930
hill is yeah and those are affluent i wouldn't
02:00:26.930 --> 02:00:28.170
say elderly that might have been a little bit
02:00:28.170 --> 02:00:30.409
much but it's older folks that live downtown
02:00:30.409 --> 02:00:31.869
in boulder it's not a bunch of people in their
02:00:31.869 --> 02:00:33.649
20s and 30s because there isn't high density
02:00:33.649 --> 02:00:36.770
but in a major city you're more likely to have
02:00:36.770 --> 02:00:38.850
younger people living downtown because there's
02:00:38.850 --> 02:00:41.550
high density and more affordable housing And
02:00:41.550 --> 02:00:43.630
it's hip and it's cool and they want to be downtown.
02:00:43.689 --> 02:00:45.270
So it's not always affordable, but they want
02:00:45.270 --> 02:00:46.810
to be downtown. That's where the bars are. That's
02:00:46.810 --> 02:00:48.550
where the scene is. And all the people with kids
02:00:48.550 --> 02:00:50.449
went off to the suburbs because they don't want
02:00:50.449 --> 02:00:52.109
to be downtown. That's okay. That's where I'm
02:00:52.109 --> 02:00:56.409
at. Grant me some grace. But the point is, you
02:00:56.409 --> 02:00:58.170
know, if we're shutting down schools and I'm
02:00:58.170 --> 02:01:00.890
thinking to me as well in my area where the middle
02:01:00.890 --> 02:01:02.369
school and the elementary school just shut down,
02:01:02.470 --> 02:01:06.170
I have a hard time seeing a rotation of generations.
02:01:06.329 --> 02:01:07.829
Like I don't think I'm going to be seeing a whole
02:01:07.829 --> 02:01:09.949
bunch of kids in my neighborhood anymore. And
02:01:09.949 --> 02:01:12.229
so my neighborhood might kind of lose that bit
02:01:12.229 --> 02:01:14.810
of vitality. I mean, it's also because your neighborhood's
02:01:14.810 --> 02:01:16.909
no longer as affordable as it was to young families.
02:01:17.029 --> 02:01:19.630
And so they're sort of caught and more and more
02:01:19.630 --> 02:01:22.170
young people aren't even having families. But
02:01:22.170 --> 02:01:26.189
this is also another trend in the hopper of why
02:01:26.189 --> 02:01:28.189
things are happening the way they are. And look,
02:01:28.270 --> 02:01:32.010
we can't satisfy everybody. And I think having
02:01:32.010 --> 02:01:35.810
read a lot of discourse about BVSD and the resilient
02:01:35.810 --> 02:01:38.979
schools proposal. My sense is that they made
02:01:38.979 --> 02:01:40.979
a hard decision. And there's a lot of people
02:01:40.979 --> 02:01:44.079
that see that they had very little choice but
02:01:44.079 --> 02:01:45.720
to make a hard decision. And there will always
02:01:45.720 --> 02:01:47.479
be people that are unhappy with that decision.
02:01:47.800 --> 02:01:51.220
Always. That don't understand economics and think
02:01:51.220 --> 02:01:54.439
that what they bought into five years ago or
02:01:54.439 --> 02:01:56.119
10 years ago will always be the case. And that's
02:01:56.119 --> 02:01:58.939
what I mean by people spending $200 ,000 for
02:01:58.939 --> 02:02:02.000
a premium lot that backs the NIST. It's not zero
02:02:02.000 --> 02:02:04.439
probability that NIST will always be there. There
02:02:04.439 --> 02:02:06.680
is a chance that NIST will be redeveloped into
02:02:06.680 --> 02:02:08.859
something completely different, particularly
02:02:08.859 --> 02:02:11.680
as you look at science under attack by our current
02:02:11.680 --> 02:02:13.479
administration. Right. You may want to think
02:02:13.479 --> 02:02:16.479
about that before you throw down a premium. It
02:02:16.479 --> 02:02:18.060
doesn't mean you shouldn't. It just means you
02:02:18.060 --> 02:02:20.600
should have been advised that that is, like that's
02:02:20.600 --> 02:02:22.239
one of the jobs of a real estate agent is to
02:02:22.239 --> 02:02:26.039
help think about things that the buyer or seller
02:02:26.039 --> 02:02:29.039
is not considering in their thesis based on your
02:02:29.039 --> 02:02:31.439
experience in the community and your experience
02:02:31.439 --> 02:02:34.899
in this industry. Yeah. okay i think we can move
02:02:34.899 --> 02:02:38.760
on we gotta we're getting there on timing it's
02:02:38.760 --> 02:02:41.380
time to carve out yeah should i bring this up
02:02:41.380 --> 02:02:43.899
is it mine first i mean you this is what you
02:02:43.899 --> 02:02:46.479
chose so yes you should this is what you want
02:02:46.479 --> 02:02:51.140
to talk about um more or less like a multiversal
02:02:51.140 --> 02:02:55.060
theory for me at least uh stems from my understanding
02:02:55.060 --> 02:02:57.539
of it through the marvel cinematic universe okay
02:02:57.539 --> 02:02:59.340
are you gonna tee this up a little bit more because
02:02:59.340 --> 02:03:01.260
some people may not even know what a multiverse
02:03:01.260 --> 02:03:03.560
is yeah so most people know what the universe
02:03:03.560 --> 02:03:06.279
is yeah and i mean the universe that's in its
02:03:06.279 --> 02:03:10.899
name uni one there's there's one massive verse
02:03:10.899 --> 02:03:15.819
big bang yeah there's one massive existence existence
02:03:15.819 --> 02:03:19.380
that's billions of stars and planets and galaxies
02:03:19.380 --> 02:03:21.760
and all yeah and i think for a long time that's
02:03:21.760 --> 02:03:25.750
kind of been the status quo the accepted kind
02:03:25.750 --> 02:03:28.069
of model not even accepted but like the broad
02:03:28.069 --> 02:03:30.909
term has always been like we live in a universe
02:03:30.909 --> 02:03:36.029
um and then for me again the the my understanding
02:03:36.029 --> 02:03:38.029
of a multiverse has come from the marvel cinematic
02:03:38.029 --> 02:03:41.130
universe but essentially you've got um you know
02:03:41.130 --> 02:03:45.170
just a run of co -existing universes uh at the
02:03:45.170 --> 02:03:47.689
same kind of time maybe the time is marching
02:03:47.689 --> 02:03:51.859
at the same point um and and for me for the the
02:03:51.859 --> 02:03:54.000
longest time and what i'm seeing in online and
02:03:54.000 --> 02:03:55.859
everything is i think more and more people are
02:03:55.859 --> 02:03:58.279
starting to think well you know in another universe
02:03:58.279 --> 02:04:02.039
um you know maybe i got the job or in another
02:04:02.039 --> 02:04:06.439
universe and maybe houses are free or the probability
02:04:06.439 --> 02:04:09.500
of like anything is possible and there are just
02:04:09.500 --> 02:04:12.260
like multiple realities right multiple dimensions
02:04:12.260 --> 02:04:15.300
a reality that reflects every choice yeah um
02:04:15.300 --> 02:04:19.210
but people are still calling it a universe Isn't
02:04:19.210 --> 02:04:21.390
the universe. And this is, this is my rub. This
02:04:21.390 --> 02:04:24.029
is my conversation. The multiverse is a theory.
02:04:24.149 --> 02:04:26.810
It's like that there are multiverses is a theory.
02:04:26.970 --> 02:04:30.229
Isn't universe a theory? It's yes. Yeah. But
02:04:30.229 --> 02:04:32.689
like, but universe, the word universe has become
02:04:32.689 --> 02:04:35.369
colloquial. Right. Colloquial. Sort of everything
02:04:35.369 --> 02:04:39.170
out there. Right. And multiverse is the, the
02:04:39.170 --> 02:04:42.329
word multiverse is starting to enter our lexicon
02:04:42.329 --> 02:04:44.630
and there, it's not just Marvel. There are other
02:04:44.630 --> 02:04:47.029
shows that show there was, I just watched it.
02:04:47.050 --> 02:04:49.770
I was on a flight. And I ended up sucked into
02:04:49.770 --> 02:04:52.289
this whole series that involved multiverses.
02:04:52.409 --> 02:04:54.670
And it was fascinating to see the story writing
02:04:54.670 --> 02:04:59.369
around how do you even keep this like storyline
02:04:59.369 --> 02:05:03.369
together with a multiverse, you know, environment.
02:05:03.630 --> 02:05:05.670
They did it, but it was, it was really quite
02:05:05.670 --> 02:05:07.630
innovative the way they managed to. And then
02:05:07.630 --> 02:05:09.729
there were some things in it that just didn't
02:05:09.729 --> 02:05:11.689
make any sense at all. And we're kind of, we're
02:05:11.689 --> 02:05:14.329
kind of like there was a black box that people
02:05:14.329 --> 02:05:16.869
would go into close the black box. And it would
02:05:16.869 --> 02:05:20.170
jet you into a hallway and you could choose from
02:05:20.170 --> 02:05:22.710
all these multiverses. Okay. But when you thought
02:05:22.710 --> 02:05:25.449
things, what was behind the doors would continually
02:05:25.449 --> 02:05:28.529
change. So if you're imagining like something
02:05:28.529 --> 02:05:31.130
really scary, you open the door, there could
02:05:31.130 --> 02:05:33.010
be that really scary world out there because
02:05:33.010 --> 02:05:35.609
you imagined it. And so it was kind of a fun
02:05:35.609 --> 02:05:38.130
idea. Yeah. Like from a storytelling device perspective.
02:05:38.810 --> 02:05:40.930
Of course, this doesn't have anything to do with
02:05:40.930 --> 02:05:42.750
real estate. This is just a fun topic of conversation.
02:05:44.569 --> 02:05:47.989
And so if you are a student of the multiverse
02:05:47.989 --> 02:05:52.090
concept, it's interesting to think that at every
02:05:52.090 --> 02:05:55.630
moment of every day of every decision, there's
02:05:55.630 --> 02:05:57.909
another you out there. Which one is you? And
02:05:57.909 --> 02:05:59.729
I mean, for me, this just brings it back to simulation
02:05:59.729 --> 02:06:02.649
theory. Maybe we're in a big simulation. I see
02:06:02.649 --> 02:06:04.750
enough reason to believe that. It still holds
02:06:04.750 --> 02:06:08.479
up, right? Under multiversal theory. that there's
02:06:08.479 --> 02:06:11.079
could be multiple simulations consciousness is
02:06:11.079 --> 02:06:13.819
a hologram you're receiving consciousness and
02:06:13.819 --> 02:06:15.739
the you know what you see is is a hologram like
02:06:15.739 --> 02:06:18.060
it's it's it's interesting it's fascinating it
02:06:18.060 --> 02:06:20.600
starts to sound a lot like religion and so we
02:06:20.600 --> 02:06:22.760
usually don't talk about religion pretty good
02:06:22.760 --> 02:06:25.920
yeah speaking of shows though have you heard
02:06:25.920 --> 02:06:28.880
of fringe yes oh yeah i've seen fringe that was
02:06:28.880 --> 02:06:32.079
that's an old show one of my faves yeah um Yeah,
02:06:32.140 --> 02:06:34.600
and he grabs his son from the other dimension.
02:06:34.960 --> 02:06:38.079
I know, he steals his son. The casual drug use
02:06:38.079 --> 02:06:40.659
in that is hilarious. There is a lot of casual,
02:06:40.779 --> 02:06:42.760
yeah. You know what, growing up watching that
02:06:42.760 --> 02:06:45.319
didn't impact me as much as I would have thought.
02:06:46.000 --> 02:06:50.060
All right. But yeah, Fringe was great. It's just,
02:06:50.119 --> 02:06:52.119
you know, I was just listening to the podcast
02:06:52.119 --> 02:06:54.039
and I hear them say Universe, and I'm like, oh,
02:06:54.079 --> 02:06:57.159
we're still on Universe, okay. And you're right,
02:06:57.220 --> 02:07:00.399
colloquial, colloquial, you know what I'm saying.
02:07:01.550 --> 02:07:03.510
and it just encompasses everything around us
02:07:03.510 --> 02:07:07.010
our world so um maybe i'm just being a bit nitpicky
02:07:07.010 --> 02:07:09.829
but in some writings you'll hear you know and
02:07:09.829 --> 02:07:12.029
his decisions echoed throughout the multiverse
02:07:12.029 --> 02:07:15.369
or um this is the only thing that you can find
02:07:15.369 --> 02:07:19.100
in the multiverse but just uh It's a thought
02:07:19.100 --> 02:07:21.340
thing. It's a fun theory. Yeah. I think it's
02:07:21.340 --> 02:07:24.579
interesting. And there are thought experiments
02:07:24.579 --> 02:07:28.000
that go along with it. But the relevance of it
02:07:28.000 --> 02:07:30.699
in our day -to -day lives, I think is almost
02:07:30.699 --> 02:07:33.460
irrelevant, right? Totally. Other than, this
02:07:33.460 --> 02:07:35.239
is also going to sound a little religious, but
02:07:35.239 --> 02:07:37.899
I think that you get what you put out there,
02:07:38.060 --> 02:07:40.680
right? In many ways in life, in the vibes and
02:07:40.680 --> 02:07:45.520
the energy and your intention. And so I think
02:07:45.520 --> 02:07:48.159
it was, this might be an Oprah -ism. But the
02:07:48.159 --> 02:07:53.260
Oprahism is to not feel a need to be the one
02:07:53.260 --> 02:07:58.319
that creates justice in the world. Like if somebody
02:07:58.319 --> 02:08:00.079
has wronged you, karma takes care of itself.
02:08:00.460 --> 02:08:03.779
And I kind of feel like that has some sort of
02:08:03.779 --> 02:08:06.680
resonance with the multiverse theory that don't
02:08:06.680 --> 02:08:08.960
worry about it. Like it works out in the end.
02:08:09.020 --> 02:08:11.220
Focus on what's positive and good in your life.
02:08:11.319 --> 02:08:12.819
What goes around comes around. And creating it
02:08:12.819 --> 02:08:16.220
and not on retribution, on justice in your personal
02:08:16.220 --> 02:08:18.579
life. whatever slight somebody cuts you off and
02:08:18.579 --> 02:08:20.239
you want this person to be harmed for it while
02:08:20.239 --> 02:08:22.300
you're driving like that's absurd yeah though
02:08:22.300 --> 02:08:25.399
in terms of philosophy in life there maybe is
02:08:25.399 --> 02:08:27.420
some relevance there but otherwise it's just
02:08:27.420 --> 02:08:29.939
an interesting it's a fun topic it's a fun topic
02:08:29.939 --> 02:08:32.640
yeah fun little car about i like the idea i think
02:08:32.640 --> 02:08:36.600
it's fun um are there any points in your life
02:08:36.600 --> 02:08:40.399
that you wish you could jump back into this multiverse
02:08:40.399 --> 02:08:43.500
and have made a different decision wish that
02:08:43.500 --> 02:08:46.539
i could have like undone no but things that would
02:08:46.539 --> 02:08:49.840
be fun for me to like, um, go and explore. Like
02:08:49.840 --> 02:08:52.159
if I had the option to stay in the life path
02:08:52.159 --> 02:08:55.979
that I'm on, um, that'd be great. But it's the
02:08:55.979 --> 02:08:58.699
same as like, uh, if I had a time machine, it
02:08:58.699 --> 02:09:01.100
would be so cool just to go back and see the
02:09:01.100 --> 02:09:03.460
dinosaurs, you know? And like, just to observe,
02:09:03.619 --> 02:09:06.300
speaking of fringe, to be an observer, you know?
02:09:06.819 --> 02:09:10.250
Yeah. Well, I, I have thought about that. There
02:09:10.250 --> 02:09:11.649
are certainly points in my life that I would
02:09:11.649 --> 02:09:13.569
have made a different decision. But all of those
02:09:13.569 --> 02:09:15.789
decisions have led to this moment. Right. And
02:09:15.789 --> 02:09:18.510
I love my business. I love working with the clients
02:09:18.510 --> 02:09:21.210
and the colleagues that we work with. And I particularly
02:09:21.210 --> 02:09:26.090
love my wife and life partner. And had I not
02:09:26.090 --> 02:09:29.010
made the decisions I made, good and bad, I would
02:09:29.010 --> 02:09:31.810
not have met her. The odds of meeting her were
02:09:31.810 --> 02:09:34.630
infinitely small and the timing was infinitely
02:09:34.630 --> 02:09:37.529
perfect. And so... with that in mind it's like
02:09:37.529 --> 02:09:40.229
i you can't i can't really personally want anything
02:09:40.229 --> 02:09:42.949
to have changed in the past but had i made it
02:09:42.949 --> 02:09:45.470
had those same decisions appear today i would
02:09:45.470 --> 02:09:47.289
not have made like i've made some bad decisions
02:09:47.289 --> 02:09:50.090
i think i mistreated some people in life um in
02:09:50.090 --> 02:09:53.130
my early ages that i would never like i never
02:09:53.130 --> 02:09:56.029
would have done the things that i did so no we
02:09:56.029 --> 02:09:58.529
learn as humans and it's like as we sit today
02:09:58.529 --> 02:10:03.340
we are 100 certain of this But I cannot be certain
02:10:03.340 --> 02:10:06.039
of anything if I had done that one thing differently.
02:10:06.539 --> 02:10:10.659
I know that the result of my actions has led
02:10:10.659 --> 02:10:13.159
me to this point, but I can't say for certain
02:10:13.159 --> 02:10:15.739
that if I hadn't have done X or Y or Z or changed
02:10:15.739 --> 02:10:18.119
my mind back then, that anything would have turned
02:10:18.119 --> 02:10:22.380
out for the better. So this is where you and
02:10:22.380 --> 02:10:23.899
I disagree, because I don't think everything
02:10:23.899 --> 02:10:28.819
in this moment is like, this is real. In fact,
02:10:28.899 --> 02:10:30.939
when the land of the small, right, the closer
02:10:30.939 --> 02:10:34.199
you get to an object and you enter into subatomic
02:10:34.199 --> 02:10:37.079
levels, it's mostly energy states and light whizzing
02:10:37.079 --> 02:10:38.779
around, at least to the best of our knowledge.
02:10:38.859 --> 02:10:40.880
Right. Which means that what looks like material
02:10:40.880 --> 02:10:43.699
reality is actually just light and electrons
02:10:43.699 --> 02:10:47.739
and subatomic particles spinning around in probabilities.
02:10:48.020 --> 02:10:51.020
So that and the probabilities actually get changed
02:10:51.020 --> 02:10:53.659
by the observer effect, which just completely
02:10:53.659 --> 02:10:56.949
blows out everything. And so I don't agree that
02:10:56.949 --> 02:11:00.229
reality is just reality. No, more so like would
02:11:00.229 --> 02:11:02.250
you wish you could go back and change things?
02:11:02.369 --> 02:11:04.949
And if going back and changing things means I
02:11:04.949 --> 02:11:07.250
wouldn't be where I am today, I don't know if
02:11:07.250 --> 02:11:09.109
I'd take it because I'm certain of where I've
02:11:09.109 --> 02:11:11.989
ended up today. Okay, got it. Yeah. All right.
02:11:12.390 --> 02:11:15.250
I think we're in agreement. Yeah. Join us next
02:11:15.250 --> 02:11:18.850
time for Are Aliens Real? Are Aliens Real? Right.
02:11:18.890 --> 02:11:20.930
Okay, so my carve -out. And again, carve -outs,
02:11:20.930 --> 02:11:22.770
remember, are just whatever we want to talk about.
02:11:23.210 --> 02:11:25.869
But upcoming this weekend is Taste of Fort Collins.
02:11:25.930 --> 02:11:28.510
And my wife's family is up in Fort Collins. And
02:11:28.510 --> 02:11:30.970
she has gotten us some tickets. So we're seeing
02:11:30.970 --> 02:11:34.289
Modest Mouse. Oh, wow. And we're going to have
02:11:34.289 --> 02:11:36.789
a really good Saturday night with family and
02:11:36.789 --> 02:11:40.369
friends. It's billed as delicious music. Delicious
02:11:40.369 --> 02:11:43.329
music. Delicious food. Live music and community
02:11:43.329 --> 02:11:46.250
energy. You know, the price points are totally
02:11:46.250 --> 02:11:48.529
reasonable for this event. So I think it's going
02:11:48.529 --> 02:11:50.949
to be very, very well attended. Weather looks
02:11:50.949 --> 02:11:52.630
pretty good for the weekend. So if you're up
02:11:52.630 --> 02:11:55.970
in Fort Collins, you might see me out at Modest
02:11:55.970 --> 02:11:59.289
Mouse. Sorry. Floating on. Modest Mouse. Yeah.
02:11:59.470 --> 02:12:01.770
Yeah. I keep thinking, I keep almost confusing
02:12:01.770 --> 02:12:04.430
it with Dead Mouse. Totally different genre of
02:12:04.430 --> 02:12:08.350
music. I was thinking Fish. Modest Mouse and
02:12:08.350 --> 02:12:10.310
Fish for some reason. Those wires crossing my
02:12:10.310 --> 02:12:12.670
brain. Interesting. Yeah. All right. Well, I
02:12:12.670 --> 02:12:15.760
think that is. it for this House Einstein podcast.
02:12:16.500 --> 02:12:18.899
If you are interested in learning more about
02:12:18.899 --> 02:12:21.420
House Einstein and our brokerage, the brokerage
02:12:21.420 --> 02:12:23.899
that supports this podcast, you can find us at
02:12:23.899 --> 02:12:26.859
houseeinstein .com. Be sure to check out our
02:12:26.859 --> 02:12:29.420
social media. You'll find us on YouTube, Instagram,
02:12:29.739 --> 02:12:33.680
Facebook, X, LinkedIn, TikTok. I guess we're
02:12:33.680 --> 02:12:36.220
still doing things on Blue Sky. Okay, great.
02:12:36.359 --> 02:12:39.399
Glad to hear it. And we wanted to thank you again
02:12:39.399 --> 02:12:41.560
for joining us. We deeply appreciate your time
02:12:41.560 --> 02:12:43.340
and attention, your feedback, your comments.
02:12:43.840 --> 02:12:45.380
And of course, when you knock on our door and
02:12:45.380 --> 02:12:47.039
want us to represent you, we deeply appreciate
02:12:47.039 --> 02:12:49.920
that too. Thanks for joining us and we will catch
02:12:49.920 --> 02:12:50.659
you next time.