Distinctive Homes of the Boulder Valley

DISTINCTIVE HOMES OF THE BOULDER VALLEY

WHAT YOU GET FOR $4 MILLION Minimalist mountain Storied Caribou Ranch masterpiece on the sale block PAGE 10 PAGE 3

MAY 2014 | BIZWEST | THE BUSINESS JOURNAL OF THE BOULDER VALLEY AND NORTHERN COLORADO 2

VIEW ALL OUR LISTINGS:

EveryEvery HomeHome IsIs aa LLandmarKandmarK ...... WWW.COLORADOLANDMARK.COM ICONIC BLUE MOUNTAIN ESTATE ONE OF COLORADO’S MOST IMPORTANT PIECES OF ARCHITECTURE

8775 BLUE MOUNTAIN DR., GOLDEN $6,950,000 165 GREEN ROCK DR., BOULDER $3,950,000 e ultimate in privacy, views, quality & comfort, Joel Ripmaster 303-641-3377 is property could never be replicated, in part due to Emily Gadacz 303-868-1010 towering over the Colorado Front Range from a subtle, its brilliant integration into the surrounding landscape yet convenient location on 25+ private acres. e present owner built this as an everlasting estate (Gyp Rock), its serene location, yet walking distance to Pearl Street Mall. Charles Haertling with the nest materials imaginable. Truly a piece of art: this home inspires you in every way! masterfully designed the home into a massive rock, lending as its backdrop. Truly nothing like 5BD/6BA/10,397 SQFT. this in the Front Range. 4BD/5BA/5,780 SQFT.

MAGNIFICENT FLAGSTAFF LOT NEW MAPLETON HILL LISTING!

785 FLAGSTAFF ROAD, BOULDER $3,250,000 511 HIGHLAND AVENUE, BOULDER $1,525,000 Two magni cent acres nestled on sunny hillside of Joel Ripmaster 303-641-3377 Gorgeous Highland Ave! Lush gardens with many areas Michelle Clifford 303-579-1029 Flagsta Mountain. Built in 1951, this property is for outdoor enjoyment. Additions include master suite “Grandfathered”. Far beyond anything ever oered for sale in the last 60 years. Build, remodel or with private deck, luxury bath; rare upper laundry; in/outdoor fam. room with library and reading invest for the future in this incredible property. nook, kitchen has subzero fridge and lots of light. Home stripped to studs and rebuilt. Must see! 3BD/2BA/2,436 SQFT. 3 BD/ 3 BA/3,079 SQFT.

WEST PEARL LUXURY CONDO ON GOLF COURSE WITH MOUNTAIN VIEWS!

820 PEARL STREET D, BOULDER $1,325,000 2208 PRIMROSE LANE, ERIE $529,000 Downtown Boulder living at its nest! Soaring ceilings, Joel Ripmaster 303-641-3377 On golf course with stunning mountain views! 2005 home Michelle Clifford 303-579-1029 contemporary nishes, and tons of sunlight create open, with high ceilings, light and views everywhere, walkout airy spaces on the coveted “West End” of Pearl Street. Sunny outdoor space on both levels with lower level. Large master suite has retreat and luxury spa bath. Granite and stainless kitchen with amazing views of the Flatirons. hickory cabinetry, large plank wood oors. Huge pools and workout facilities included! 2BD/3BA/1,949 SQFT. 3 BD/3 BA/ approx 3,781 SQFT.

SERVING THE BOULDER, BROOMFIELD & NORTH METRO AREA SINCE 1977 303.443.3377 303.652.8800 2350 Broadway, Downtown Boulder 136 2nd Ave, Old Town Niwot

MAY 2014 DISTINCTIVE HOMES BIZWEST 3

COVER STORY

BY HEATHER McWILLIAMS Special to BizWest

French chalet crown jewel ust north of Boulder, pressed into a seam between the jutting Foothills and the beginning sweep of the plains, sits Cari- bou Springs Ranch. at Caribou Springs Ranch JStitched with history ranging from Colo- rado’s ranching and pioneering past to present-day living legends and luxury living, the STORIED RANCH PROPERTY ON MARKET FOR $13.9 MILLION property weaves together a tapestry of agricul- ture, conservation, community and the lavish, modern character that peppers the Boulder Valley today. “The whole key here was to preserve this land with the least impact and make a community, with a conservation easement protect- ing the agricultural usage forever,” said James Guercio, owner of Caribou Springs Ranch. The ranch includes 600 acres of agricultural Maison Caribou is a See Caribou, 4 1200-square-foot French chalet at Caribou Springs Ranch north of Boulder. The chalet was designed by builder ON THE COVER Marcia Kirsch Kolher and Interior of a room of the “glass” house that is took three years to construct. built into the land at 1035 5th St., in Boulder. Above, a great room has See page 10. INSET: James Guercio, owner of meticulously crafted beams for Caribou Springs Ranch, has put the 600-acre a vaulted ceiling and wrought- property on the sale block for $13.9 million. iron railing for a staircase. JONATHAN CASTNER/FOR BIZWEST

JONATHAN CASTNER/FOR BIZWEST

MAY 2014 DISTINCTIVE HOMES BIZWEST 4

COVER STORY

CARIBOU SPRINGS RANCH INCLUDES 600 ACRES OF AGRICULTURAL PROPERTY, COUPLED WITH RESIDENTIAL SPACE FOR HIGH-END HOMES. SEVERAL MULTIACRE PLOTS ALREADY SPORT PRIVATELY OWNED LUXURY HOMES,

JONATHAN CASTNER/FOR BIZWEST EACH BORDERED WITH STUNNING A pool is maintained at Maison Caribou, a luxury home on the the 600-acre Caribou Spring Ranch. VISTAS AND ENSCONCED FROM THE BUSTLE OF CITY ACTIVITY YET WITH EASY ACCESS TO BOULDER.

Caribou from 3

property, coupled with residential space for high-end homes. Several multiacre plots already sport privately owned luxury homes, each bordered with stunning vistas and ensconced from the bustle of city activity yet with easy access to Boulder. Caribou Springs Ranch is listed for $13,895,000 as a complete package, which includes the land, an equestrian center and small ranch home, 150 shares of Left Hand water rights, a common pool and barbecue pavilion, five lots deeded for luxury homes and a pre- built luxury estate known as Maison Caribou. The 12,000-square-foot Maison Caribou sits on five acres of property. Designed by builder Marcia Kirsh Kohler and modeled after a real French chateau, the JONATHAN CASTNER/FOR BIZWEST home took three years to build. A nearly 200-year-old, Louis the XV-style carved walnut armoire was built into a main oor bathroom wall. A match- With a buff-colored stone and dark wood exterior ing double sink vanity, original woodwork and marble tastefully blends the old work with the new tumbled marble nestled under steeply pitched roofs, Maison tile and modern bathroom amenities. It’s one of 10 uniquely outtted and themed bathrooms in the house. Caribou makes a striking impression. Vaulted ceilings and arched entries give way to an interior flooded with light from expansive banks of windows within. The interior contains one-of-a-kind iron work and imported pieces plucked from mansions across France, said Jeff Erickson, the Fuller Sotheby’s International Realty agent handling the sale of the property along with his wife, Carliss Erickson. After 20 years as a builder in Key West, Fla., Erickson lauds the attention to detail that permeates Maison Caribou. “I did restoration work on historic wooden struc- tures ... and I just appreciate the quality of all this to no end,” he said.

FRENCH CONNECTION Details like a nearly 200-year-old, Louis the XV- style, carved walnut armoire built into a main floor bathroom wall. A matching double sink vanity, original woodwork and marble tastefully blends the old work with the new tumbled marble tile and modern bathroom amenities. It’s one of 10 uniquely outfitted and themed bathrooms in the house. Authentic French mantels, fireplaces, vanities and carved wooden doors transplanted from France lace the

JONATHAN CASTNER/FOR BIZWEST home. Caribou Springs Ranch has remnants throughout the property that are reminders of its ranching and pioneering past. See Caribou, 13

MAY 2014 DISTINCTIVE HOMES BIZWEST 5 PROUDLY SERVING BUYERS & SELLERS SINCE 1976 WKRE.com Boulder 303-443-2240 | Longmont 303-776-3344

14205 N. 107TH, LONGMONT 303 SKYLARK WAY, BOULDER 1024 LINDEN DRIVE, BOULDER Enjoy a fantastic setting on the lake w/mtn views in this custom Unobstructed, Panoramic, Forever Views! 2 acres on a quiet rural Linden Sanctuary, a home of warmth, sophistication and exhilarating home on 10 acres. 6200 sq ft ﬁn, 6 beds, 5 baths. $998,500 road just minutes from downtown Boulder. This country contem- space. 5 minutes to downtown Boulder and Pearl Street, 3+ acres. Andria Allen 303-810-8375 porary was a complete transformation . Views, privacy, over 6000 luxurious square feet. $3,250,000 Geri Oliveira, CRS, CLHMS, GRI 720-564-6041 Geri Oliveira, CRS, CLHMS, GRI 720-564-6041 UNDER CONTRACT

2950 N LAKERIDGE TRAIL, BOULDER 805 DEWEY AVE., BOULDER 135 BRITTANY LN., LAFAYETTE Best Kept Secret in Boulder. Lake front property with boating and Lovely Victorian expertly remodeled with open floor plan, high ceilings, Borders acres of open space with panoramic pastoral & mountain views. fishing just 10 minutes to downtown. Nestled into the foothills. custom lighting, radiant heat floors, luxury finishes. Almost 2700 sq.ft., 3 On an acre in gated community. 6100 sq.ft., 6 bedrooms, 5 baths & Enjoy coffee while watching early morning sunrises. $1,650,000. bdrms, 4 baths, walkout basement, 2 car detached garage. $1,099,000. 3 car garage. A gardener’s paradise, sunroom & hot tub. $1,575,000. Geri Oliveira, CRS, CLHMS, GRI 720-564-6041 Stu Wright, 303-541-1900 Stu Wright, 303-541-1900

7211 LONGVIEW DR., NIWOT 1110 WHITE HAWK RANCH DRIVE, BOULDER 805 PINEHURST COURT, LOUISVILLE Inviting, uplifting & full of light. Truly private & special lot in Niwot with Magnificent home on over an acre! Five bedrooms, 6 baths, 7 fireplaces Golf Course Views. Great patio and outdoor kitchen. Built in grill, sweeping mountain views. Terrific 5,300 sq.ft. layout with 5 bed- (3 with stone from the Yucatan), huge shower with steam room, gym, 5 refrigerator, fire pit outdoor speakers. rooms, 5 baths, finished walkout basement & 3 car garage. $929,000. patios, 1,000-bottle wine cellar, over 10,000 square feet. $3,950,000 Jerry Curry, 303-541-1936 Eric Wright, 720-564-6052 Barb Bashor, CRS, MRE, CLHMS, 303-775-2994

SOLD

3070 BUTTERCUP CIRCLE, FREDERICK 4001 MILANO LANE, LONGMONT 15137 EAST COUNTY LINE ROAD, LONGMONT Home on the range but close to everything. One acre site with West Longmont custom. Backs to openspace. 5br main ﬂoor mas- Rare 80 acres in Boulder county. 18 shares water. great plains and front range views. This home is in great condition. ter Great condition wonderful site. Fully ﬁnished lower level. 3bd, 3ba 3,500 sq. ft. home. Fantastic mountain views. $950,000. Jerry Curry, 303-541-1936 Jerry Curry, 303-541-1936 Andria Allen 303-810-8375

MAY 2014 DISTINCTIVE HOMES BIZWEST 6

GREEN LIVING

COURTESY DANIEL O’CONNER Interior designer Ulla Lange calls this guest cottage on Mapleton Avenue (above, facing page) in Boulder “a gem.” The armoire/entertainment unit is made of beetle-kill pine wood.

on both commercial and residential design projects, lets the building itself guide her. Although she does tackle some new construction projects, much of her work is dedicated to renovating and remodeling Ulla Lange existing buildings, especially in Boulder, where there isn’t a lot of space for new development. In these situations, Lange seeks to honor the building’s original character while bringing some- INTERIOR DESIGNER HAS FLAIR thing new and fresh to the space. She is aided in this not only by her interior design background (she has a BFA from Parsons School of Design in New York), but also her knowledge of architecture. Although FOR ECO-FRIENDLY STYLE she is not a licensed architect, she received a master’s degree in architecture from the University of BY VALERIE GLEATON Colorado-Denver in 2002, a distinction that sets Special to BizWest her apart from many other interior designers. “I was a textile designer for several years, and BOULDER — With roots in Scandinavia, a 20-year obviously had worked with colors and patterns career in Boulder and stops along the way in New York a lot,” Lange explained. “But I had always loved and London, interior designer Ulla Lange offers clients houses and had been involved in some remodeling a truly worldly perspective on eco-friendly style. projects. I wanted to learn more and went back to Lange originally hails from Finland and embraces school to get my architecture degree.” the region’s signature Scandinavian style — modern, minimal, functional — as her personal design aes- KEEPING THE PLANET IN MIND thetic. But don’t expect every project she works on In addition to the desires of her clients and the to look like an Ikea showroom. demands of the existing structure, Lange also takes “I don’t believe in imposing one type of style on the needs of the planet into consideration when my clients,” Lange said. “But rather, I strive to ﬁnd approaching a new design project. Ulla Lange holds multiple “green” cer- the right solutions that work for their individual She holds multiple “green” certiﬁcations, includ- tications, including LEED Green Asso- taste and lifestyle.” ing LEED Green Associate, Green Point Building ciate, Green Point Building Profession- Professional and Green Advantage. She strives to al and Green Advantage. She strives LISTENING TO THE BUILDING ensure that every space is not only beautiful, but to ensure that every space is not only Not every client comes to the table with a clear idea also sustainable. beautiful, but also sustainable. of what they want. That’s when Lange, who works One way she does this is by choosing eco-friendly

MAY 2014 DISTINCTIVE HOMES BIZWEST 7

panels, doors and decorative elements. The material comes from neighboring Utah and contains 40 percent recycled content.

GREEN IS NOT A TREND Why focus so heavily on eco-friendly design, when more conventional materials might be more readily available or less expensive? “I can’t imagine not paying attention to it,” Lange said. “The thought that it is considered just a trend really bothers me. … Sustainable development is defined as meeting the needs of today without compromising the ability of future generations to meet their own needs.” Luckily, Lange is not alone in her dedication to environmentally responsible design. Although she owned her own business, Ulla Lange Design, from 2001 to 2011, in 2010 she helped found Workshop8, a collaborative architecture and design firm head- quartered on 15th Street in Boulder with a focus on “providing architecture and design services that are beautiful, sustainable and energy-efficient.” Although Lange has worked on a number of large design projects through Workshop8 — including the Paisano Green Community senior housing project in COURTESY DAN CRONIN El Paso, Texas, and the S. Lowell Apartments rehab This kitchen and living room at 450 Lipan Way in Boulder features gray quartz countertops and a reclaimed wood wall. and redevelopment project in Denver —it is the smaller, more intimate spaces that are closest to her heart. materials. would end up in a landfill,” Lange said. “Plus, it is “I have two small guest houses in the area that I “I like to use local products and craftsmen for fabri- really quite beautiful,” she added. The wood, which am really fond of,” Lange said. “They are small, but cation, whenever possible,” Lange said. One example is has a bluish-gray cast to it, can be used for furniture, such gems.” lodgepole pine trees destroyed by pine beetles. flooring, paneling and siding. “But really,” she added, “all projects where the “If it is harvested locally within Colorado, it Lange also uses a product called 3form resin as an owner is happy with the end result are something makes all the more sense to use it, as it otherwise eco-friendly glass alternative for translucent walls, to feel good about.”

MAY 2014 DISTINCTIVE HOMES BIZWEST 8

REAL ESTATE STATS

EXISTING HOME SALES April 2014 Year-to-Year Comparison

Location Total# Inventory Avg. Avg. Median Total # Sold Average Sales Price Average Days to Contract Median Sales Price Sold Sales Days to Sales Location 04/01/12 - 04/01/13 %chg 04/01/12 - 04/01/13 %chg Location 04/01/12 04/01/13 %chg 04/01/12 04/01/13 %chg Price Contract Price 03/31/13 03/31/14 03/31/13 03/31/14 03/31/13 03/31/14 03/31/13 03/31/14 Boulder 76 231 $834,916 27 $662,820 Boulder 794 793 (0.1) $664,569 $771,389 16.1 Boulder 65 35 (46.2) $570,000 $636,500 11.7 Broomfield 29 102 $423,504 43 $338,700 Broomfield 380 405 6.6 $363,781 $396,566 9.0 Broomfield 60 33 (45.0) $325,000 $342,000 5.2 Erie 37 115 $405,025 33 $405,000 Erie 347 411 18.4 $357,806 $389,273 8.8 Erie 68 41 (39.7) $336,000 $352,000 4.8 Lafayette 27 84 $407,348 37 $419,000 Lafayette 310 310 0.0 $390,230 $410,559 5.2 Lafayette 57 35 (38.6) $361,000 $375,604 4.0 Longmont 102 262 $304,343 28 $273,500 Longmont 1060 1104 4.2 $265,949 $287,998 8.3 Longmont 55 36 (34.5) $240,000 $262,300 9.3 Louisville 15 42 $493,494 7 $440,000 Louisville 245 233 (4.9) $430,107 $510,585 18.7 Louisville 55 28 (49.1) $395,000 $459,000 16.2 Superior 8 36 $453,375 23 $445,500 Superior 162 140 (13.6) $425,321 $486,284 14.3 Superior 44 23 (47.7) $409,000 $449,500 9.9 Mountains 27 229 $425,719 135 $405,000 Mountains 304 333 9.5 $423,486 $475,462 12.3 Mountains 133 113 (15.0) $349,750 $380,000 8.6 Plains 31 201 $643,783 74 $579,000 Plains 410 410 0.0 $634,590 $683,718 7.7 Plains 81 61 (24.7) $491,000 $547,450 11.5 Total 352 1,302 Total 4,012 4,139

EXISTING CONDO SALES April 2014 Year-to-Year Comparison

Location Total# Inventory Avg. Avg. Median Total # Sold Average Sales Price Average Days to Contract Median Sales Price Sold Sales Days to Sales Location 04/01/12 04/01/13 %chg 04/01/12 04/01/13 %chg Location 04/01/12 04/01/13 %chg 04/01/12 04/01/13 %chg Price Contract Price 03/31/13 03/31/14 03/31/13 03/31/14 03/31/13 03/31/14 03/31/13 03/31/14 Boulder 69 230 $306,352 24 $275,000 Boulder 667 727 9.0 $302,972 $327,069 8.0 Boulder 81 45 (44.4) $259,000 $265,000 2.3 Broomfield 11 15 $243,973 31 $240,000 Broomfield 87 107 23.0 $232,299 $223,293 (3.9) Broomfield 97 51 (47.4) $237,000 $210,435 (11.2) Erie 4 10 $170,725 5 $169,000 Erie 33 34 3.0 $189,791 $167,444 (11.8) Erie 68 47 (30.9) $152,000 $157,500 3.6 Lafayette 15 33 $241,358 35 $217,500 Lafayette 96 139 44.8 $197,054 $217,192 10.2 Lafayette 63 31 (50.8) $200,500 $220,000 9.7 Longmont 23 53 $205,795 24 $192,500 Longmont 234 258 10.3 $179,563 $199,674 11.2 Longmont 70 32 (54.3) $167,000 $185,950 11.3 Louisville 6 11 $263,150 31 $235,000 Louisville 52 59 13.5 $251,370 $258,690 2.9 Louisville 54 49 (9.3) $210,500 $224,900 6.8 Superior 3 9 $233,300 3 $212,000 Superior 28 41 46.4 $197,679 $220,474 11.5 Superior 43 21 (51.2) $179,950 $204,250 13.5 Mountains 0 2 0 0 0 Mountains 2 4 100.0 $337,500 $269,125 (20.3) Mountains 101 82 (18.8) $337,500 $228,500 (32.3) Plains 9 16 $183,344 9 $172,500 Plains 106 82 (22.6) $196,039 $222,966 13.7 Plains 67 32 (52.2) $163,250 $181,000 10.9 Total 140 379 Total 1,305 1,451 For more information contact: Kenneth Hotard 303.442.3585 • [email protected] Datasource: IRES-Information Real Estate Services

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MAY 2014 DISTINCTIVE HOMES BIZWEST 9

Distinction, Achieved.

BOULDER | 900 PEARL STREET #207/209 BOULDER | 1155 CANYON BLVD. #209/307 The premier penthouse condo in Downtown Boulder. Custom-built urban condo with luxury appointments. All top-of-the-line luxury ﬁnishes! Over 1200 sq ft of Two master suites, two kitchens. outdoor living space incl a rooftop party terrace. Three decks with City & Flatiron views. 4 BR * 4 BA * 3987 TSF (733863) * $3,875,000 4 BR * 6 BA * 3854 TSF (733315) * $2,785,000

BOULDER | 2669 4TH STREET BOULDER | 7372 OLDE STAGE ROAD BOULDER | 9420 OWL LANE Incredible custom home by Surround Architecture The keystone residence within Boulder open space. Gorgeous estate home nestled on a 2.35 acre, south- with all the bells and whistles on a large 10K sq ft lot in This masterpiece home is the creation and residence of facing lot at The Farm at Boulder Valley. Unobstructed Trailhead! Incredible ﬂoor plan. Boulder’s premier builder. views of the front & back range. 4 BR * 5 BA * 4293 TSF (733087) * $2,350,000 3 BR * 4 BA * 4340 TSF (733779) * $2,200,000 5 BR * 4 BA * 5569 TSF (734260) * $1,495,500

BOULDER | 7072 INDIAN PEAKS TRAIL BOULDER | 790 10TH STREET BOULDER | 7152 OLD POST ROAD Spectacular property within steps of the clubhouse/pool This classic Uni-Hill home sits proudly on a corner lot, Meticulously maintained brick home located on the at Boulder Country Club! Quiet location on one of the masking a transitional interior. The main level has been 15th tee of the Boulder Country Club. largest & most private lots. opened up for today’s living. Spacious, open ﬂoor plan. 3 BR * 4 BA * 5137 TSF (733150) * $1,495,000 4 BR * 3 BA * 3472 TSF (733174) * $1,495,000 5 BR * 5 BA * 6785 TSF(732836) * $1,495,000

BOULDER | 2101 BISON DRIVE BOULDER | 6078 OLDE STAGE ROAD BOULDER | 5681 CASCADE PLACE Exceptional 35 acres, very private with views from Unparalleled spectacular views through the ‘notch’ Stunning! This custom home has been totally updated every window and living space. Huge custom deck with offered from each level of this home and you’re only a from the studs out. Formerly on the ‘Kitchen’s on Fire’ artisan craftsmanship. short 2.5 miles to Broadway. tour - truly a special home! 5 BR * 4 BA * 5250 TSF (734665) * $1,391,000 5 BR * 4 BA * 4763 TSF (733461) * $1,199,900 5 BR * 4 BA * 4139 TSF (734636) * $998,500

2425 CANYON #110 | 1320 PEARL 303.449.7000 | WWW.BOULDERCO.COM

MAY 2014 DISTINCTIVE HOMES BIZWEST 10

WHAT YOU GET FOR $4 MILLION A design as unique as the market that’s attracted to it

BY ELIZABETH GOLD their dependability as a result. Special to BizWest People who look at properties with these higher price tags have a BOULDER -The find-a-house unique profile. challenge continues. “They tend to be cash buyers,” “In cases where there’s limited Stebbins said. “Some, however, still inventory, it’s common for us to want to take advantage of the low JONATHAN CASTNER/FOR BIZWEST find private properties that aren’t interest rates and use their cash for John Toomas Cabell stands in front of his “glass” house at 1035 5th St., in Boulder. The publically for sale,” said Jane Steb- other investments. home is on the market for $4.2 million. bins, broker with Goodacre & Co. “These buyers aren’t typical — in Boulder. “We go to people with they’re different from the $1 million nice properties and ask at what price to $1.5 million home buyers who could we tempt them to move.” tend to be looking for a primary She wouldn’t just go knocking residence,” she added. on doors, however, unless she had a One prospect looking at the qualified buyer in mind. One reason $4.25 million house at 1035 5th St. to limit the hunt is because if that in Boulder that Stebbins is listing, homeowner says “yes” to the sale, for example, has three other proper- Stebbins would then need to find ties abroad and is looking for a place a suitable place for them to move to spend only some of the year in. – a task that would put her back The house has a design as unique into the limited inventory challenge as the market that’s attracted to it. again. Stebbins referred to it as a “glass” The trend for an increased mar- house that’s built into the land rath- ket of people looking to buy is con- er than onto the land. tinuing to build especially in this $4 “On a sunny day the glass reflects million category, according to Steb- the blue sky, the clouds and the sun bins. Stats like spring and summer so the house just blends in with the being the best times to sell are losing surroundings.” JONATHAN CASTNER/FOR BIZWEST The interior design features sharp lines, a predominately white color scheme and glass walls that allow for an abundance of natural light. 1035 5TH ST., BOULDER http://www.coloproperty.com/listing/details/1023626 List price: $4,250,000 Size: 5,026 square feet; two bedrooms; one full bath, one three-quarter bath and one one-half bath. Unique features: Built in 2008, this three-story house sits on 0.72 acres in the Flag- sta subdivision. It was designed by award-winning New York architect Thomas Phifer. Inside: This house includes 11-foot high ceilings, an operable skylight on the top oor, translucent etched glass walls, geo-thermal heating and cooling, radiant heat oors and passive solar. It has an eat-in kitchen, a separate dining room, an open oor plan, a walk-in closet, a media room and a replace in the great room. Outside: The house includes a patio, a two-space garage and heated driveway, evergreen trees, deciduous trees, native grass and rock out-croppings. It borders open space.

MAY 2014 DISTINCTIVE HOMES BIZWEST 11

195 BELLEVUE DRIVE, BOULDER 1110 WHITE HAWK RANCH DRIVE, BOULDER http://www.coloproperty.com/listing/details/1026569 http://www.coloproperty.com/listing/details/1002246 List price: $3,875,000 List price: $3,950,000 Size: 5,769 square feet; ve bedrooms; ve full baths and one one-half bath Size: 10,354 square feet; ve bedrooms; two full baths, three three-quarter baths and one one-half bath Unique features: Built in 2012, this three-story house sits on 0.45 acres in the Bellevue Vista subdivision. Unique features: Built in 2005, this one-story ranchstyle home sits on 1.18 acres in the White Hawk Ranch third-ling subdivision. Inside: The house has an open oor plan with formal living and dining rooms, a butler’s pantry, a casual dining area, a main oor master bedroom, a loft area, Inside: The house includes a four-person shower with steam, a walk-in closet, a an unnished walk-out basement and replaces in the master bedroom and the gym, seven replaces (three with stone from the Yucatan), a 1,000-bottle wine great room. It includes an eat-in kitchen, cathedral ceilings, a walk-in closet, wood cellar, a humidor, and Brazilian cherry, walnut and bamboo ooring. It has central oors and a kitchen island as well as central air conditioning and hot water heat. air conditioning and forced air/radiant heat. Outside: There is a lawn-sprinkler system, a balcony, a patio, a deck and a three- Outside: There is a lawn-sprinkler system, ve patios and a three-space garage. space garage.

165 GREEN ROCK DRIVE, BOULDER 1077 CANYON BLVD., SUITE 402, BOULDER http://www.coloproperty.com/listing/details/1011185 http://www.coloproperty.com/listing/details/1003463 List price: $4,200,000 List price: $4,300,000 Size: 5,780 square feet; four bedrooms; two full baths, two three-quarter baths Size: 3,736 square feet; three bedrooms; one full bath, two three-quarter baths and one one-half bath and one one-half bath Unique features: Built in 1969 in the Knollwood subdivision, this four-level house Unique features: Built in 2008, this penthouse is on the fourth oor of the Arete on 1.11 acres is one of Colorado’s iconic pieces of architecture and works of art. in downtown Boulder. Beautiful views of the Flatirons and steps away from the Charles Haertling of Boulder integrated the house into a massive rock. Modeled Pearl Street Mall. after peaks in the rock, the horizontal lines accentuate the rock’s prominence. The Inside: This penthouse includes custom cabinetry, heated hardwood oors, cen- house has been recognized globally and featured on NBC. tral air conditioning, radiant heat, cathedral ceilings, an open oor plan, a walk-in Inside: The house includes a jetted bathtub, an eat-in kitchen, a separate dining closet, a wet bar, skylights, a kitchen island and an elevator. room, a wet bar, skylights, a living room replace, a partial basement, central air Outside: It has a balcony, a deck and two-space underground parking. conditioning, and forced air heat. Outside: The property includes a four-space garage, a lawn-sprinkler system, a patio, a deck, and views of the Flatirons, Mount Sanitas and Red Rocks. The wooded lot has evergreen trees, deciduous trees, native grass and abuts a stream. The property is secluded yet an easy stroll to downtown Boulder.

MAY 2014 DISTINCTIVE HOMES BIZWEST 12

NEIGHBORHOODS Somerset Estates CUSTOM HOMES ON LARGE LOTS WITH MOUNTAIN VIEWS GIVE RESIDENTS DAILY BLEND OF LUXURY AND NATURE

BY ELIZABETH GOLD Special to BizWest

Colorado in general and the Front Range specifi- cally offer a plethora of wide-open views of nature at her best. And as a state full of outdoor lovers, those views are taken in with daily appreciation. Living in a spot like Somerset Estates in Niwot gives residents a view of the mountains that stretches the imagination, according to residents. “For me, the most best thing about living here is the view,” said Steven DeWitt. “It’s a thrill to see the Flatirons, the Continental Divide and Longs Peak every morning. “Plus we get an extra hour of sunshine out here.” DeWitt and his family have lived in Somerset Estates since 1995. “What attracted me was the large lots and mountain views,” he said. “When we moved here we were the first house on the street. In five years there were five more houses and 15 more children.” A lot of people moved to the area because of the schools – Niwot Elementary, Sunset Middle School and Niwot High School – according to DeWitt. He describes Somerset Estates as very family-ori- ented with lots of neighborhood din- ner parties. The Somerset Swim QUICK FACTS and Tennis Club Monthly HOA fee: $108 has hosted a num- Households: 87 ber of graduation parties and fam- Median income: $119,603 Homes in the Somerset ily get-togethers Home prices: $800,000 - Estates neighborhood in as well as being an $2.5 million Niwot sit on large lots that appealing spot for are well-manicured and recreation. Schools: Niwot Elementary, have views of the moun- And when resi- Sunset Middle School and tains to the west. The dents step outside Niwot High School neighborhood includes the clubhouse, 35 acres of private open they’re surround- space that includes main- ed with 35 acres of private open space that includes tained walking paths. maintained walking paths. The community is buff- ered even further with 160 acres of permanent open DOUG STORUM/BIZWEST space. “You can ride mountain bikes, walk your dogs and buyers in Somerset Estates as in their 40s and look- Estates for five years or more, and 37 percent of those then turn around and see horses on the path,” said ing for large lots and a place to support their active residents are families with children. Carla Boselli who has lived in Somerset Estates with lifestyles. The Boselli’s are listing their six bed- her husband, Tony, for 15 years. “I’m hearing a lot from people out-of-state like room, 10,500-square-foot house that sits on a “It’s a great community for raising kids – all the L.A. and New York because the lots here are triple 29,206-square-foot lot at 6331 Snowberry Lane for kids on our street were pretty much the same age the size in those places. $2,995,000. It includes a deck overlooking the pool and played together. And then when my girls got “Niwot has things like a lobster festival and a and spa, a master bedroom with steam shower and older they babysat.” farmer’s market but it’s still close enough to night- Jacuzzi tub, a finished walkout basement, a poker The Boselli’s raised two of their five children in life in Denver that it gives this area a kind of urban room, a wine cellar and a gym. Somerset Estates. sophistication,” she added. “It’s safe, and the open “It been fabulous here but we’re empty nesters Both Boselli and DeWitt talked fondly about the space is aesthetically pleasing to the soul and the eye.” now – it’s just my husband and me,” she said. “Some- quaint downtown area of Niwot as a big plus for living Somerset Estates contains about 87 households one else needs to enjoy what we’ve enjoyed for the in their neighborhood. with a median income of $119,603. Houses range past 15 years – we’re ready to share the wealth.” “It has lots of character with coffee shops, restau- from $800,000 to more than $2.5 million. According to Snyder, the market for houses in rants and boutique stores,” DeWitt said, adding that The Estates includes more than five acres of ponds, similar price ranges as those in Somerset Estates is access to Denver also makes the area a good central streams and waterfalls. The Swim and Tennis Club on the upswing. location. includes an adult and children’s pool, a spa, changing “There’s still not a lot of inventory, but it’s picked Gwenivere Snyder, a broker with Colorado Land- rooms and a basketball court. up for me in terms of buyers looking and people mark Realtors-Boulder, describes potential home Almost half the residents have lived in the wanting to list their homes.

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ers — also owns Caribou Ranch near mone-free heard going to Alfalfa’s The home includes a theater with Caribou from 4 Nederland, which he calls the upper soon. Guercio wanted the property stadium seating, a mirrored exercise ranch. That property once housed to blend reclamation and conservation room and an alcove added by Kreit- “Marcia (Kirsh Kohler) went to the famous music studio Elton John, with community, thus luxury home man containing an exquisitely tiled France four different times during the Billy Joel, Michael Jackson and others owners share a common equestrian resistance pool for a hard-core swim building process and bought pieces”, wrote, played and recorded in until a center and the community pool. workout. Erickson said. fire destroyed the hideaway musical Maison Caribou’s current owner, The Maison Caribou estate can Sculpted iron railings set off a outpost in 1985. retired investment banker Jim Kreit- be purchased independently for spiral staircase near the house’s main Wanting a working ranch, Guer- man, added his own conservationist $4,995,000, but ideally Caribou entrance, a detailed echoed by a cio drove nearly 600 head of cattle touch with a complete geothermal Springs Ranch will go as a package smaller spiral staircase winding from from his upper lands to the Caribou heating and cooling system for the including the French chateau, mas- a wood paneled office space up to Springs location. It took three days to estate. sive ranch acreage, water rights and a Jeffersonian library. All the iron move the animals. “It makes the utility bills, like all, Erickson said. work was custom created by W. X. “When it was 20-below it was next to nothing,” Erickson said. “They can have the whole 600 Kohler, Marcia’s husband. my daughter, myself and two guys,” With 10 bedrooms, an unattached acres plus, and they’d have the house “All of it is different ... and his Guercio said, but typically 10 to 30 1,200-square-foot guest cottage with as a home base and then have five stuff is super high-end and expen- people, mounted on horseback, made a complete kitchen and hickory fin- other lots that they could develop sive,” Erickson said. the drive. He’s still raising cattle on ished interior plus heated garage space on spec,” he said. “It’s a very special The main staircase sweeps down Caribou Springs Ranch, with plans for five cars, Maison Caribou offers property; it’s just going to take that to a walkout, lower level and a for a range-fed, antibiotic and hor- room for family, guests and storage. right person.” 900-bottle, climate controlled wine cellar enclosed with glass doors and an arched iron gate covered in bunched grapes and flanked by a Come Home to New Construction, Large Lots mural of a vineyard. All chandeliers and sconces — even the fixtures for a Control4 secu- and Top Schools in Huntington Trails rity and sound system — were made ~ Quick commute to anywhere in Boulder or Broomfield Counties ~ by Kohler. Kohler worked the fixtures and ~ Top Adams 12 schools including Legacy High School in Broomfield ~ sconces for the Caribou Springs Ranch community clubhouse, too, ~ Walking distance to the popular Orchard Town Center ~ which includes an outdoor pool, with restaurants, retail and farmers markets pavilion and bathrooms. Some of the sconces use reclaimed metal from old-fashioned plow from the working ranch, Guercio said. The repurposed material enhances the ranch’s conservation character, he said. “My whole things is recycle and try to do things locally.” In some ways, Guercio reclaimed the property itself after he purchased it in the 1970s. Once mined for lime- stone to produce cement, Guercio restored the stripped portions of the land to its natural state using strategic cattle grazing for proper re- growth. He intentionally bordered one edge with a bird sanctuary that now shelters numerous species and attracts bears, native wildlife and researchers interested the region’s biodiversity.

MUSIC IN THE AIR n 1025 W 141st Circle n 1060 Huntington Trails Parkway Guercio, known for his storied history in music — he produced records Stunning architecture and quality craftsmanship com- - for The Beach Boys, Chicago and bine in this unforgettable custom estate. Dramatic two story rooms full of windows and light are enhanced by This better than new custom, walk out ranch is an enter Blood, Sweat and Tears among oth- tainer’s dream home! Impeccable finishes are evident kitchen features huge island, slab granite, alder cabinets, twothroughout sinks and the stainless home. The Viking expansive and subzero kitchen appliances. has a Vikingthe highest appliances, level of tech finish center, and mountain walk in pantry views. and Chef’s nook modern flair with alder cabinetry, a huge island offering with built in shelving, buffet and wine chiller. Master bedroom boasts a sitting room with morning kitchen, The master suite is a welcome retreat with a fireplace, covered balcony, spa bathroom and his and her closets. theresort place style to bath,be for and Sunday an enormous football. Pleasewalk in visit closet. http:// The Please visit http://tour.circlepix.com/home/EYZPLG to finished lower level is the envy of the neighborhood and view this beautiful residence. photos of this gorgeous home. tour.circlepix.com/home/SN6RH3 for more details and

• 5 Bedrooms • 7 Bathrooms • 5 Bedrooms • 5 Bathrooms • 7,937 Total Square Feet • Mountain Views • 6,088 Square Feet • Wine Cellar •$1,350,000 Four Car Garage • Neighborhood Pool $1,237,500• Finished Basement • Community Park & Pool

residential commercial hospitality Stephanie Iannone, ABR, CNE bldg.bldg.collectivecollective 2865 Baseline Road • Boulder, Colorado architecture : d e s i g n www.housinghelpers.com • 303-641-7484 bldgcollective.com 303.357.1364

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FINANCE

A primer on jumbo loans for

“LENDERS WANT TO SEE expensive homes

RESERVES OF EIGHT TO 12 BY MICHELLE VENUS and the first-time buyer is looking at a jumbo loan Special to BizWest as the only option. MONTHS OF MORTGAGE “I’ve worked with first-time home buyers who Because the housing market is heating up, lenders put off buying a house until they’re 35 or 40,” PAYMENTS, INCLUDING are seeing more applications for jumbo loans. What Cox said. “They’ve saved the down payment while is a jumbo loan and what is needed for a home buyer they’ve rented and come to the table with every- PROPERTY TAX AND to qualify for one? thing in place to qualify for a jumbo loan.” A jumbo loan is one that exceeds $417,000 or Right now, jumbo loans are a better deal than HOMEOWNER’S INSURANCE IN the conforming-loan limit for a single-family home conforming loans. Jonathan Hartman of U.S. Bank in most parts of the country, including Colorado. In in Longmont recommends checking online or with THE BANK AFTER CLOSING.” regions where home values are pricier, such as Cali- a lender because rates change frequently without fornia or New York City, jumbos start at $625,000. notice. Calvin Cox Conforming loans for residential mortgages are Interest rates are subject — but not limited — to Commerce Mortgage in Boulder eligible to be purchased by Fannie Mae and Freddie a variety of factors including loan to value ratio and Mac and are backed by the government. Not so with credit score. As of May 5, a 30-year fixed rate jumbo jumbos. They are held in portfolios by large banks loan was at 4 percent on a 45-day lock: less than a and some REITs, or real estate investment trusts, 30-year fixed rate conventional loan which was at which are securitizing jumbo paper. 4.375 percent on a 45-day lock. Interest rates can change daily based on myriad economic factors, CREDIT SCORE AND DOWN PAYMENT so be sure to discuss locking in any rate with your This can make a jumbo loan a bit trickier for the lender. buyer, but not necessarily, according to Calvin Cox with Commerce Mortgage in Boulder. For clients HYPOTHETICAL LOAN FOR $3M with a 720 credit score who can plunk down 20 per- All mortgages are qualitative and may or may not cent for a $1.5 million loan, a jumbo mortgage is not be available based on a variety of circumstances, any more difficult to obtain than a conforming loan. including but not limited to, credit score, loan- “For mortgages above the $1.5 million mark, to-value and debt-to-income ratios, and property lenders like to see 25 percent down,” explained valuation. Cox. Above $2 million? That requires a minimum All potential borrowers will need to apply for a down payment of 30 percent. At this time, lenders mortgage with a lender and be credit and under- like to see a 90 percent loan-to-value ratio on any writing approved before any terms can be finalized, jumbo loan. Hartman pointed out. Lenders also want to see reserves of eight to 12 The following is an example for a 30-year fixed- months of mortgage payments, including property rate loan for $2 million on a $3 million purchase, tax and homeowner’s insurance in the bank after assuming the borrower has a strong credit rating and closing. The reserves can be met by a 401 (k) or meets all other credit requirements. “RESERVES DO NOT HAVE TO BE an IRA, but only up to 60 percent because of the The $2 million would require a down payment penalties incurred to withdraw the funds if they are of $1 million plus closing costs. LIQUIDATED BUT NEED TO BE IN not of retirement age. Payments on $2 million would be approximately Most people applying for jumbo loans are not $9,548; principal, interest and taxes are estimated A VERIFIABLE ASSET ACCOUNT first-time home buyers. They’ve built equity in at $1,500; and insurance estimated at $500 a previously purchased homes and have established month for a total monthly payment of $11,548. SUCH AS A MONEY MARKET, 401 the substantial nest egg that gives them the ability Total assets required would be $1 million plus clos- to qualify for a large loan. ing costs plus 12 months of payments in reserves. (K), STOCK ACCOUNT OR AN IRA.” Hartman said reserves do not have to be liq- BOULDER DIFFERENT MARKET uidated, but they need to be in a verifiable asset Jonathan Hartman The Boulder market is a bit different. Many account such as a money market, 401 (k), stock U.S. Bank in Longmont starter homes come with a $400,000-plus price tag account or an IRA.

MAY 2014 DISTINCTIVE HOMES BIZWEST 15 RESIDENTIAL SPOTLIGHT

COURTESY HOUSING HELPERS LLC This dining nook has built-in shelving, buet and wine chiller. Stunning architecture, craftsmanship sparkle in this two-story custom estate Location: 1025 W 141st Circle, Westminster Price: $1,350,000 Size: 7,937 square feet Overview: Two-story living and dining rooms with many windows that provide light and mountain views. Five bedrooms, three full bathrooms, two three-quarter and two half-baths. Chef’s kitchen features huge island, slab granite, alder soft close cabinets, Viking appliances, tech center, walk in pantry and nook with built in shelving, bu et and wine chiller. The guest suite with bath is located on the main level. Four-car garage, three replaces, unnished basement, two laundry centers. Cool features: Master bedroom has a morning kitchen, covered balcony, spa bathroom and his and her closets. Three large secondary bedrooms upstairs all have private baths and walk-in closets. A study features elegant beamed ceilings and a private patio. This nearly 8,000-square-foot home at 1025 W 141st Circle in Westminster has a four- Listing agent: Stephanie Iannone, car garage, three replaces and two laundry centers. Housing Helpers of Boulder LLC, 303-641-7484.

The dining/living room has a two-story high ceiling with multiple windows for a maxi- A chef’s kitchen features a huge island, granite countertops and alder soft-close cabinets. mum amount of natural lighting.

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fullersothebysrealty.com

NEW PRICE Pine Brook Hills, Boulder 166 Valley View Way, Boulder 9044 Jason Court, Boulder Stunning mountain modern, in the hills above Boulder. Stunning contemporary with awe-inspiring mountain and Located on a cul-de-sac on 1.3 acres in White Hawk Ranch, A balancing of art and nature beautifully integrated. city views, 5 bedrooms, 7 baths, home theatre, wine cellar, one of Boulder County’s most prestigious communities. www.ColoradoLuxuryCollection.com $9,800,000 4-car garage, just minutes to downtown. $3,290,000 Views of the Indian Peak mountain range. $2,790,000 Barb Silverman 303.886.5329 Jeff and Carliss Erickson 303.589.2741 Linda Scaglia 303.859.4698

NEW OFFERING NEW OFFERING NEW OFFERING 9051 Eastridge Road, Golden 4484 Nicklaus Court, Niwot 25462 Westridge Road, Golden Built into a rock outcropping, this custom home exudes Located on a quiet street above Lake Valley Golf Club, this Situated on 2 acres on a cul-de-sac affording quiet mountain elegance while engineered to withstand all the elements. 5 bedroom brick home has tremendous views and an award living. 20 minutes to Golden, Denver and Boulder. 20 minutes to Denver, Boulder and Golden. $1,595,000 winning kitchen with Viking appliances. $1,199,000 Enjoys city, mountain and open space views. $1,165,000 Alex Danneberg 720.937.4965 Barb Silverman 303.886.5329 Alex Danneberg 720.937.4965

NEW PRICE COMING SOON 14189 Augusta Drive, Broomfield 4421 Augusta Drive, Broomfield 440 Seven Hills Drive, Boulder Exquisite contemporary Craftsman on the 2nd fairway in Spectacular custom home in the gated Island of the Located in the coveted Seven Hills area is a once-in-a- gated Island of the Broadlands. Premium finishes, open Broadlands. Offers main floor master, gourmet kitchen, lifetime opportunity to own a Charles Haertling designed floor plan, gourmet kitchen and sunset views. $1,075,000 wine cellar, finished basement and more. $945,000 home 5 minutes from downtown Boulder. $899,000 Jason Kloss 720.253.6244 Jason Kloss 720.253.6244 Michael Hughes 303.359.6627

NEW OFFERING COMING SOON 7676 Estate Circle, Niwot 79 Lodgepole Way, Golden 775 Morgan Drive, Boulder Sharp, well kept 2-story with great views on this quiet, over 1 acre setting with southern exposure overlooking the Great location in south Boulder. 4 bedroom tri-level plus 1/2 acre property that backs to private open space. mountains. This community features 5 lakes offering finished basement. Baths beautifully remodeled, large yard. Convenient to old town Niwot. $639,500 fishing, walking, riding trails and privacy. $525,000 Hardwood floors throughout. $475,000 Michael Hughes 303.359.6627 Linda Scaglia 303.859.4698 Marie Jacobs 303.919.4122

1050 Walnut Street, Suite 100, Boulder • 303.443.6161 • fullersothebysrealty.com

OTHER LOCATIONS: DOWNTOWN DENVER CHERRY CREEK GREENWOOD VILLAGE EVERGREEN CASTLE PINES VILLAGE VAIL VALLEY BRECKENRIDGE

MAY 2014 DISTINCTIVE HOMES BIZWEST