So I open the paper today and on the cover is an advertisement for $70 bucks for an ounce at a new pot shop. And I gotta say: “I’m blown away.” I’m not into that scene, for a lot of reasons.
Okay, maybe I was, once upon a time, way back in college days. I probably sound old, but lately getting a lot of reminders that I’m aging. Ha.
$70 dollars for an ounce is almost as unbelievable as a million dollars for a regular run of the mill house. And yet, that’s what the housing market is in Boulder these days.
What a crazy mixed up muddled up world we live in. Here is some perspective. Back in college – that would be way back in the 80’s, a Quarter Ounce was a lot of pot. And it ranged in cost between $25 and $50. And was usually not the highest or best quality.
And I never imagined it would truly be legal. And yet, here we are in 2018 and you can get four times as much as we did in college for about the same price. Oh, and the quality now is all hydroponic out of this world stuff. So old 80’s folks visiting Colorado should be careful!
And some perspective on housing. When I first got into real estate, a town house in Boulder was $150,000. I know, I purchased a great place at Wellman Creek and doubled my money in a handful of years. Go back a few decades and check out the deals in Martin Acres.
That community of Tri-Levels, Ranch and Bi-Level homes built small in the 1950’s are suddenly hot properties. We’re not talking show stoppers like the gorgeous mansions on an HGTV episode.
Rather, I’m talking about 900 square foot boring 50’s built urban housing in Boulder. Little houses that once sold for $15,000 a pop are now going for a million bucks these days.
Bet I sound like I’m off my rocker. I’m rambling and riffing on pot and houses. (I’ve also blogged on the risks of pot in houses if are interested!).
Hey, This isn’t your average Bob Gordon real estate blog post. This is me truly rambling about price changes in our community. This isn’t a sudden change. But it is dramatic. And it can be exciting for home sellers, daunting for home buyers and challenging for locals who just want to stick around.
30 Second Elevator Pitch: I’m good at helping my clients find the right home, win bidding wars with neither the highest or best offer and successfully navigate financing and home inspection to get into your new home!
But let’s jump back to housing. And perspective. For the low seven figures, I’m talking about the little houses in Martin Acres. Not mansions or expansive Ranches with hundreds of acres of land. Just little old houses that back in the day were considered huge with 900 square feet finished.
Again, for perspective, these days, some new home communities offer 3 car garages with 700 square feet just for your cars and toys!
So imagine, it’s 1950. The war is over (WW II). Vets are pouring back into the states. The Baby Boom is about to start. Boulder, like so many other places is going through a growth spurt.
The goal was quick, affordable housing units to accommodate the influx of vets and their families. Boulder was also home to a number of government labs and CU (and still is). We needed housing. So Martin Acres pops up. This is a nice community, with cookie cutter homes.
Nothing was built to maximize the view. Some of the nicest lots had houses with windowless closets getting the best view. Homes were not oriented in the Fifties to take advantage of the view.
And now, some of those very same ranch style layouts with a basement and one car garage are commanding $1,000,000.
Seriously, you go back in time and ask those home owners if they see this coming along. No way. No one would have sold. Everyone would have held their houses to this day just to retire in style.
That’s why, whether its $70 bucks for an ounce or a cool million for a house, I’m blown away this morning. If you want the marijuana – grab a copy of the paper and look for that advertisement. If you want a great value on a house, consider me.
I’m a solid negotiator with excellent knowledge of the local marketplace. I’ve been in the Boulder/Denver area since 1991 and have seen the ups and downs of our market. Mostly ups. Selling or purchasing, I bring my A-game to the table and thrive on assisting clients, new and old, with your Boulder real estate needs.
There are some deals out there. No $70 houses exist. Sorry. There are great values to be had, maybe by selecting one neighborhood over another or taking advantage of a school district line or making an unsolicited offer (all things I’ve helped clients do this past year).
I enjoy what I do, though what I love is living in such a beautiful place with four seasons, great weather, mild winters and so much to do. Okay, time to get doing what I love. Am off for breakfast and a 30 minute bike ride on Coal Creek Trail to get the day started.