Colorado Real Estate News

Real Estate Market Trends

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Dramatic shift in real estate since March.

 

Real estate in metro Denver, Fort Collins and the Front Range was primed to be one of the strongest on record at the beginning of March, but took a swift turn later in month due to the impacts of the pandemic. Stemming from Colorado Governor Jared Polis “Stay-at-Home” Executive Order for the entire state on March 25, real estate was classified as an essential service – and the way real estate is transacted has changed significantly.

 

As a company, Kentwood Real Estate has identified ways to safely comply with the order while facilitating transactions that really need to happen – and help clients who very much need guidance right now.

 

Virtual tools are being leveraged and they have proved to work well for homebuyers and sellers today, such as listing photography, virtual tours, e-signatures on contracts and contact-free closings. There are even new components of a contract, like the COVID-19 Addendum that allows a transaction to be extended in the case a homebuyer or seller is exposed or quarantined. These changes are necessary to keep our community safe, and ultimately the health and safety of our fellow neighbors is the most important factor when considering how to responsibly serve homebuyers and sellers.

 

As elements of the executive order begin to be lifted, these virtual tools will remain common practice and will continue to be necessary to maintain the safety of our community.

 

The real estate market throughout Colorado is in a healthy position to come out of this unprecedented situation with strength. There remains a lack of supply and high demand, and that is what keeps prices stabilized and even increasing. While the second half of March notably saw a significant number of homes taken off of the market, they will begin to come back on the market in the near future. The pent-up demand will be evident over the summer, and anyone thinking of selling in the next few months will be able to successfully do so.

 

*Written April 17, 2020. Updates may be available after this date.

Colorado Real Estate News

How To Get Your Home Ready To Sell, Fast

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There’s no denying that getting your house ready to sell can be overwhelming, but with the right tips you can be on the fast track toward successful open houses and showings. Buyers will be most interested in your home the first few weeks it’s on the market, so you’re in the best position to sell when your house is ready to go on day one.

 

Here are our tricks of the trade to help you get your home ready to sell quickly and for top dollar:

 

Heed the advice of your Kentwood Broker Associate on pricing.

When selling a home, your pricing strategy can make or break your chances for a fast sale. Listing at the right price can almost guarantee that a buyer will quickly purchase the property, while listing at the wrong price can cause your home to sit on the market for months with not so much as a showing. Unfortunately, pricing is not a simple process, and without the right guidance, sellers can make mistakes that cost time and money. Your Kentwood Broker Associate is constantly monitoring market trends, understands each neighborhood, and what buyers are looking for, so heed their advice!

 

Avoid chasing the market

The worst mistake a seller can make is “chasing the market”. If you list your home too high to begin with, you may find yourself making incremental price drops, but never quite catching up with current market conditions. For example, let’s say a Realtor® comes into a seller’s home and knows that, due to previous sales and current comps, the appropriate price for the home is $949,000. However, the seller says, “My neighbor recently sold his home for $950,000, so I want to ask $999,000.” Then, after six months of the house not selling, the seller realizes the price must be reduced. The issue here, though, is during the six months that the home has been sitting on the market, more homes have now come on the market and now, the correct price should actually be $899,000. In this situation, the seller is chasing the market down, and will ultimately sell for less than the original suggested price.

 

Stage your home

Staging a home will help it sell faster, and for a higher price. Go room by room and eliminate any unnecessary furniture that is taking up valuable space, as this will make the rooms appear larger. Resist the urge to cram things in a closet, as buyers are typically looking for homes with ample storage space, and full closets can make your home appear as though it doesn’t have enough room.

 

Prepare to invest in necessary repairs, but don’t over-upgrade.

Staging and easy updates such as a fresh coat of paint, a deep clean, and making necessary repairs will go a long way to get you top dollar for your home. However, you don’t need to invest in huge improvement projects before putting your house on the market, as you may not get your money back in the sale price. Quick fixes like new curtains, lighting, and replacing door handles or cabinet hardware can make a big difference without breaking the bank.

 

Always be ready to show.

Your home needs to be “show ready” at all times, so we recommend having a ‘Show Plan’ in place so you know exactly what to do when the call for a showing comes. By this point, you should have already cleaned, organized and staged the home, so there shouldn’t be as much clutter to put away as before. Once everything has a place out of site and furniture and décor are staged, run through the following checklist to ensure you’re show-ready:

  • Clean and put away all dishes.
  • Make all beds.
  • Put all clothes away, and try not to have them in the washer or dryer, as potential buyers will likely look inside those appliances during the showing.
  • Vacuum and sweep all floors.
  • Wipe down all counters, sinks and appliances (especially stainless steel).
  • Have clean, unused linens on-hand, and place them in the kitchen and bathrooms.
  • Put all pet supplies away and take the pets with you.

You never know when your buyer is going to walk through the door, so you have to be available whenever they want to see the home. De-clutter, keep things clean, and make sure all personal items are put away. It can be inconvenient, but it will get your house sold.

Colorado Real Estate News

Mountain Biking Colorado In Mud Season

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As one of the world’s best places for mountain biking, Colorado holds a special place in the hearts of riders across the globe. In the springtime, after the thaw and in between late-season snowfalls, Colorado mountain bikers eagerly hang up their skis and break out the bikes for “Mud Season” riding. While “Mud Season” may sound dirty and dreary, it can still be a great time for bikers to enjoy their favorite activity without the crowds, as long as they’re okay with a little slush and slop.

 

Now that spring is in full swing, if you’re ready to get on your bike but your favorites trails are still snow-covered, we’ve compiled a list of local favorites for spring biking at lower elevations that offer amazing trails for riders of all abilities.

 

Just please be mindful of local municipality public health guidance on exercise outdoors!

 

Here are our top five destinations for mountain biking in Mud Season:

 

1. Marshall Mesa – Boulder, Colorado

The Marshall Mesa trailhead is just outside of Boulder, and is the starting point for several bike trails that ride alongside the Flatirons– Boulders iconic sandstone formations. Bikers that head to Marshall mesa will find rolling hills, rocky uphill trails, and thrilling downhill rides through grassy ridges.

 

2. Phil’s World Mountain Bike Trail– Cortez, Colorado

Whether you are a beginner or expert rider, Phil’s World will have you grinning from ear to ear. Located just outside of Durango in the San Juan mountains of southern Colorado, Phil’s World is one of the first places to dry up in the spring and last places to get snowy in the fall. All of the trails are rolling, so there aren’t any true climbs or descents, but riders of all ages and skill levels will have a great time. It’s worth noting, however, that you’ll want to check trail conditions if you’re heading to Phil’s World after a rainstorm, as the clay dirt can quickly turn sloppy.

 

3. Lunch Loops – Grand Junction, Colorado

If you’re a more technical rider, you’ll love Lunch Loops. Located right outside of downtown Grand Junction, the trail system is, quite literally, known as the “lunch ride” for many locals. Lunch Loops offers trails for all levels of riders, but the more advanced riders will particularly enjoy the expert-level trails here.

 

4. 18 Road Trail System – Fruita, Colorado

Fruita has increasingly become an alternative to Moab, particularly for those traveling from Colorado’s Front Range. Known as one of the mountain biking meccas of the west, the 18 Road Trail System offers both rolling and technical trails, and is a great place to ride short laps all day long and work on your skills. The trails here are for riders of all ages and abilities, ranging from full of locals out for an evening spin, to toddlers on their first bike ride ever, and visitors from all over the US discovering this incredible desert riding.

 

5. Hartman Rocks – Gunnison, Colorado

Just down the road from Crested Butte is the lesser-known town of Gunnison, Colorado, which is home to amazing trails that are ride-able before any alpine riding is snow-free. Hartman’s Rocks Trail System is the perfect place to break out the wheels for your first ride of the year.

 

Don’t let a little mud stop you from enjoying one of Colorado’s best springtime activities! Take on any one of these great riding options for your first ride of the year, and you’ll be sure to kick off bike season with a bang.

Colorado Real Estate News

How To Support Downtown Fort Collins Local Shops During Covid-19

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Do your part to keep Old Town Fort Collins’ stores open

 

As the northern Colorado community continues to abide by social isolation guidelines, Fort Collins’ downtown local businesses are getting creative to keep their doors open. Restaurants are offering special dinner menus for takeout, many of which are including cocktails and drinks to-go, bookstores are encouraging readers to purchase books online for delivery orders, and clothing and chocolatiers have transitioned online by creating Shopify accounts.

 

COVID-19’s pressures on local companies are enormous, particularly with the loss in spring tourism business dimming 2020 revenue forecasts. Despite the seemingly dark times, hope remains as Fort Collins’ Old Town businesses have recently banded together as the Downtown Business Association launched its “Support and Save” campaign.

 

Appealing to regular customers stuck at home and visitors who are unable to travel, the Support and Save campaign allows patrons to donate and receive a voucher for future purchases. To encourage more donations, the voucher’s value incrementally increases if patrons donate more: donate $20 and receive a $25 voucher, donate $40 and a receive $50 voucher, and donate $80 receive a $100 voucher.

 

If a great deal doesn’t excite someone to donate for a good cause, the full list on the Downtown Business Association’s website, linked here, just might. The list of participating stores ranges from footwear, antiques, art and handcraft stores, bars, restaurants, distilleries, breweries, an equestrian store, holistic life coaching, gyms, spices, salons, florists, furniture stores, olive oil companies, smoothie shops, fly fishing shops, soda fountains, and so much more.

 

“Old Town is the heart of Fort Collins and right now the local shops need our help,” says David Powell, managing broker at the Kentwood Real Estate – Northern Properties office. “If you’re a resident or a seasonal visitor, you know how special Old Town is to the city. The shops we enjoy visiting are counting on our support for when they’re able to open their doors to the public again.”

 

“You can’t beat the Old Town experience in Fort Collins. It’s heartbreaking to know many of these shops are struggling with COVID-19 keeping everyone away, but I know the Fort Collins and Colorado communities will pull together to support our local businesses,” says Catherine Rogers, broker associate at Kentwood’s Northern Properties office. Catherine listed a few of her favorite Old Town restaurants and shops: Slyce Pizza, Ginger Baker, Cooper Smiths, Blue Agave, Jay’s Bistro, Jax And Fish, and Emporium In The Elizabeth Hotel.

 

The National Restaurant Association estimates over 3 million industry employees have lost their jobs, and will miss out on $225 billions in estimated sales for 2020. Eventually, COVID-19 will pass but no one expects a large grand opening of American society when it happens. Society will still need to maintain distance as the virus will be marginally present, but locally owned retailers and restaurants will continue to need the community’s support until they’re able to operate a maximum capacity.

 

As Colorado’s top luxury real estate real estate brokerage, Kentwood Real Estate will support our community, clients, brokers, staff, and their families to endure. We’re in this together and we believe we’ll come out on the other side stronger than before.

Colorado Real Estate News

Support Your Community by Eating Local Around Northern Colorado

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“You don’t build a business, you build people, then people build the business.”-Zig Ziglar

At Kentwood Real Estate we believe in community. That we accomplish more together. That deep roots matter. We would like to use Kentwood’s platform to support and promote local restaurants and organizations that are offering take-out and delivery services or gift card options.

 

24 Carrot Bistro
303-828-1392 | www.24carrotbistro.com

 

Beau Jo’s
Multiple Locations | www.beaujos.com

 

Bindle Coffee 
970-999-4201 https://bindlecoffee.com

 

Bonefish Grill
Multiple Locations | www.bonefishgrill.com/

 

Ginger and Baker
970-223-7437 | www.gingerandbaker.com/

 

Hearth Restaurant and Pub
970-460-0193 |  www.hearthrestaurantandpub.com

 

Jay’s Bistro
970-482-1876 | jaysbistro.com

 

Krazy Karls Pizza
Multiple Locations | www.krazykarlspizza.com/

 

Origins Wood Fired Pizza & Wine Bar
970-685-4269 | www.originsloveland.com

 

Taste Local
970-690-9448 | www.eattastelocal.com

 

Locality Kitchen and Bar
970-568-8351 | localityfoco.com

 

*Services and availability are subject to change without notice. Please verify all information. Content is subject to change daily.

 

Colorado Real Estate News

Support Your Community by Eating Local Around Metro Denver

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“You don’t build a business, you build people, then people build the business.”-Zig Ziglar

At Kentwood Real Estate we believe in community. That we accomplish more together. That deep roots matter. We would like to use Kentwood’s platform to support and promote local restaurants and organizations that are offering take-out and delivery services or gift card options.

Ambli Global & Ambli Mexico
303-355-9463 | www.amblidenver.com

Bar Dough
720-668-8506 | www.bardoughdenver.com

Briar Common
720-512-3894 | www.briarcommon.com

Chada Thai Denver
303-320-8582 | chadathaidenver.net

Cherry Creek Grill
303-322-3524 | cherrycreekgrill.com

Crush Pizza and Tap
303-441-0249 | www.crushpizzatap.com

FNG
720-667-3727 | www.fngrestaurant.com

Fresh Craft
303-758-9608 | freshcraft.com

Gaetano’s
303-455-9852 | www.gaetanositalian.com

Hi Tide Poke Denver
720-639-6900 | www.hitidedenver.com

Just BE Kitchen
303-284-6652 | justbekitchen.com

Little India
720-636-8659 | 303-622-5840 | www.littleindiaofdenver.com

Lo Stella Ristorante
303-825-1995 | lostelladenver.com

Luca
303-832-6600 | www.lucadenver.com

Machete Tequila and Tacos
Multiple Locations | machetedenver.com

Mehak India’s Aroma
720-638-9350 | www.mehakdenver.com

Parisi Italian
303-561-0234 | www.parisidenver.com/parisi

Parkway Bar & Grill
303-693-6200 | www.parkwaybarandgrill.com

Safta
720-408-2444 | www.eatwithsafta.com

SAME Café
720-530-6853 | www.soallmayeat.org

Shanahan’s Steakhouse
303-770-7300 | www.shanahanssteakhouse.com

Sushi Sasa / Tai Tai Japanese
303-433-7272 | www.sushisasadenver.com

Tap & Burger
720-287-4493 | 720-456-6779 | tapandburger.com

The Bagel Deli & Restaurant
303-756-6667 | www.bageldeli.com

The Cherry Cricket
303-322-7666 | 303-297-3644 | cherrycricket.com

The Rock Restaurant and Bar
303-690-7934 | rockrestaurantandbar.com

Three Little Griddles
303-693-4100 | www.threelittlegriddles.com

Zaidy’s Deli Cherry Creek
303-333-5336 | www.zaidysdeli.com

Zeal Food for Enthusiasts
720-708-6309 | www.zealfood.com

 

*Services and availability are subject to change without notice. Please verify all information. Content is subject to change daily.

 

 

Colorado Real Estate News

10 Ways to be a Good Neighbor During the Coronavirus Outbreak

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As we adjust to a new version of normal life, most of us are undoubtedly looking inward at the effects of the COVID-19 pandemic. Now more than ever, it’s up to us to also take a moment to look outward and be good neighbors. Fortunately, there are ways that you can support your community while also adhering to the health and safety guidelines that will help combat the spread of COVID-19. With that in mind, use these 10 ideas and guidelines to be the best neighbor you can be:

 

1. Get phone numbers for your neighbors – and use them to check in. If you don’t already have direct contact information for some or all your neighbors, now is the time to obtain them. Phone numbers will ensure that your immediate circle of neighbors can communicate quickly on a day-to-day basis.

 

2. Set up a community group online. If your neighborhood or building doesn’t already have a group on an app such as WhatsApp, Slack or Facebook, offer to help set one up and invite everyone to join. A community “in need of” list could be shared here as well, where people can request help with items or tasks they’re in need of.

 

3. Wave hello. Social distancing doesn’t mean “devoid of connection.” While walking to our neighbors’ doors and knocking isn’t advisable, we can still wave hello from our porches or while on a walk. It’s a small thing that can make a big difference in how we feel about the day ahead!

 

4. Offer to deliver groceries or necessities. If you’re headed to the store yourself, check in with neighbors that are high risk to see if you can bring them any groceries or necessities. Use recommended precautions to keep yourself safe – keep the kids at home if you can, wash your hands before & after and wipe down the cart when you hit the store. If possible, leave them on the front porch for your neighbor to bring inside themselves.

 

5. Donate blood. Local blood donation centers and hospitals need blood of healthy individuals now more than ever. Visit the Red Cross website to check your eligibility, find a nearby blood drive location or donation center, and make an appointment to give back to patients in need.

 

6. Offer your tech assistance to your neighbors. Right now, many tasks and errands are being completed online. That’s great for individuals who are used to ordering groceries and takeout on their phones, but some neighbors may not be as experienced in using apps and websites. With that in mind, offering to help someone navigate a website or to handle certain tasks online could make a big difference!

 

7. Support local businesses. Local businesses are the cornerstone of thriving communities. Now more than ever it’s important to show our love to local businesses, who are struggling to stay afloat during these challenging times. Consider buying gift cards to enjoy later, placing online orders through the store’s website, ordering food for takeout or delivery, and tipping workers more than usual.

 

8. When running, biking or walking, stay at least six feet away. We all need exercise and a breath of fresh air right now. When you do go outside, however, remember to adhere to social distancing guidelines – maintain a distance of six feet or more between you and anyone else enjoying the outdoors.

 

9. Keep your noise levels respectful. Chances are that you’ve seen videos of our international neighbors playing instruments from their balconies. We’re not saying you shouldn’t play music, but we are saying that if you do, you should be respectful of the time you do it. Remember that many people are currently working from home, and we all need to sleep sometime!

 

10. Freshen up your visible spaces for all to enjoy. Our homes and their appearance play a big role in how we feel. Working in your garden (once the weather stays warm) can create a beautiful space and also get you outside. Seasonal decorations are another great way to lift your community’s spirits, and they don’t even have to be timely! Whether you decorate for spring or for “Christmas in March,” or create sidewalk art for passersby, now is the time to build a space that makes your neighborhood smile.

Colorado Real Estate News

Real Estate in the Time of Covid-19

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Colorado Governor Jared Polis announced on March 25 a strict “Stay-at-Home” Executive Order for the entire State of Colorado – including Denver, Fort Collins and the Front Range – which will run through April 11, with the possibility to be extended. What does this mean for real estate?

 

Real estate is classified as a critical business under this order, which permits essential real estate services to be conducted.

 

Fundamentally, people need a place to live which is why real estate is an essential service. Even with genuine demand, the real estate market is evolving. Some homebuyers are choosing to pause temporarily. Some sellers may be deciding to wait too. Brokers are figuring out how to accommodate showings via virtual tour and conducting listing appointments on video conference. This is not a time to house hunt to “see what’s out there.” Real estate in the here and now is focused on homebuyers and sellers who must move forward with a home relocation and are in critical need of real estate services.

 

There have been a great deal of changes in the industry for how real estate is now conducted to help consumers achieve their goals safely. Kentwood Real Estate is committed to doing our part to reduce non-essential business activities as we join in the fight against the spread of the coronavirus pandemic.

 

Like most brokerages, Kentwood remains operational through a remote work plan designed to ensure our sales team and clients are supported. Traditional real estate practices have shifted to be remote too. Open Houses, for example, are being shown virtually by way of Kentwood’s 3D Tour offering and platforms such as Facebook Live and IGTV. And while listings continue to display 24/7 across the Kentwood.com website and syndication partners, today’s buyer can now expect that essentially all, or nearly all, steps in the transaction will be achieved remotely.

 

The local real estate community continues to focus its energy on ways to collaborate to help local communities, clients, and industry peers. Above all, the most important service we can offer is keeping each other healthy, safe and supported.

 

Kentwood Real Estate is monitoring the ever-changing real estate landscape stemming from COVID-19. We are staying informed and following the guidance of the CDC, Colorado Department of Public Health and the National Association of REALTORS® to ensure we are providing our clients with the ultimate in ethical, professional representation – we will take all measures to ensure a safe, responsible, and productive experience.

 

*Written on March 30, 2020. New updates may be available after this date.

Colorado Real Estate News

Real Estate Market Trends

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How the Coronavirus is Impacting the Denver Housing Market

Kentwood Real Estate is monitoring the ever-changing real estate landscape stemming from the coronavirus COVID-19 situation. We are staying informed and following the guidance of the CDC, Colorado Department of Public Health and the National Association of REALTORS® to ensure we are providing our clients with the ultimate in ethical, professional representation – we will take all measures to ensure a safe, productive experience.

 
What we are seeing in the metro-Denver residential real estate market today is that overall buyer demand in the local market is keeping activity strong. Historically low interest rates are motivating buyers, and we continue to see multiple offers. While many sellers are continuing to list their homes, some are choosing to pause temporarily. In the case more sellers wait, there will be an increased strain on housing inventory.


Housing Inventory Challenges

In February, while the stock market struggled with coronavirus fears, real estate stayed strong. Month over month, 5.6% more homes came on the market, 7% more homes shifted into a pending status, and 3% more homes closed.

 
The month ended with only 4,835 active listings, down 2% from January and nearly 20% year over year. For perspective, 5,083 listings went under contract in February; so, figuratively speaking, only 39 new listings came on the market that didn’t go into contract.


The ‘New’ Home Showing

To accommodate buyers in today’s new normal, listings are sanitized ahead of showings, and hand sanitizer and booties are readily available. Furthermore, virtual home tours are quickly growing in popularity. Facetime to more advanced 3-D technology are being utilized and becoming a preferred method of house hunting by many.

 
Real estate remains a good investment. We believe the security of real estate as a safe haven from both a psychological standpoint and an investment standpoint will resonate in future weeks and months. Real estate has always weathered economic turmoil in the long run, and will do so now.

Colorado Real Estate News

Gardening Tips to Sell Your Home in Colorado

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Lush Plants, Gardens and Trees Tips to Add to a Home’s Value

 

Living flowers, plants, trees, and shrubbery can make a home stand out in a neighborhood. A potential buyer is able to imagine themselves living in a home with a manicured lawn, mature trees, and robust shrubs rather than the home whose lawn is patchy, unkempt or downtrodden. As a home seller looking to sell at the highest price, details matter; and so does planning for Spring’s planting.

 

Gardening in Colorado’s spring months has challenges unique to the state’s high elevation, low humidity, intense sunlight, dry winds, and the heavy clay natural soil. Understanding each of these aspects is critical to raising a healthy garden, plants, and lawn without worrying about replacing sickly and dying plants, which can be costly – especially for a home seller who doesn’t want to invest more than they absolutely need to.

 

Most homeowners with outdoor soil space think gardening is as simple as digging a hole, planting, and watering. The soil in Colorado’s Front Range is typically heavy clay with poor aeration, which is a challenge for roots and how they grow. Additionally, soil in CO without additives typically has a pH level of up to 8.5, which is a bit too alkaline for popular flowers like azaleas. The ideal pH level for most plants is 7.0, where anything below is considered acidic and above is alkaline. Before a home seller decides on a plant or digs a hole, they should determine what a new plant’s ideal pH level is and try to balance with store-bought soil or additives.

 

As every Colorado resident knows, April and May can bring surprise snowstorms, which can damage plants who can’t survive the weight of snowfall, especially if they’re just establishing themselves. When choosing which plants to purchase, the safer bets tend to be thicker, denser trees and shrubs that can withstand heavy snows that risk damaging branches.

 

Untimely freezes present a problem for some Coloradoans, particularly those in mountain communities. Frost can occur in summer months which severely shortens the growing season for certain outdoor plants. Mountain gardeners must take special precautions if they are to successfully keep plants alive throughout the spring, summer, and fall months by building outdoor greenhouses and keeping a close eye on weather forecasts.

 

Colorado’s light intensity can produce some of the most beautiful flowers in the world. Annual plants, which might be better grown in pots, include Disacia, Angelonia, New Guinea Impatiens, and Petunias. Perennials, which can be planted into the ground with treated soils include Dianthus, Rocky Mountain Penstemon, Oxeye Daisy, Purple Coneflowers, Liatris, Poppy Mallow, and more. There is a wide variety of native perennials that are grow well in Colorado’s Front Range and can be found at your local garden store, and are great selections for beautifying a staged home and supporting pollinators like bees and butterflies.

 

If you’re looking for trees to consider for your lawn, consider flowering trees like willows, black locusts, lindens, and honey locusts. Larger non-flowering trees that are drought resistant include the Japanese Tree Lilacs, Russian Hawthorns, American Hornbeams, or Burr Oaks.

 

As Colorado’s top real estate brokerage, Kentwood Real Estate encourages all Front Range home sellers to consult with our experienced brokers to be sure they’re selling their house at an ideal price. Gardening is one of many tools home sellers should consider when staging their homes for tours.