Written by Gretchen Rosenberg, President and CEO of Kentwood Real Estate
When you’re looking to purchase a brand-new home, it’s wise to hire a real estate broker as your trusted advisor. Homebuilders are in the business of building and selling properties and maximizing profit. As any business would be. They’re not fiduciaries to buyers and will not give you the clear-eyed advice you need as you move through the process.
When I was actively selling real estate, I was fortunate to represent many homebuyers when they purchased new construction. It was a privilege to help them wend their way through the complex process. I learned the ins and outs of a typical builder’s contract language and the important questions to ask.
Three Important Questions
Where is the Earnest Money Held? Did you know that builders like to hold your earnest money in their operating accounts? Wouldn’t it be better to request they hold your earnest money at a title company in a trust account?
When Can we Schedule an Inspection? Did you know that most builders will permit you to have a home inspection? You should absolutely do a full-blown inspection. One time, we discovered the sewer line from the house hadn’t been connected to the city main. Another time, the builder had forgotten to spray insulation into the attic. And another time we found that a roof truss had been dropped through the living room sub-floor and punched a hole through it! We were standing in the basement looking up at a hole in the wooden floor and saw they’d covered it with carpet and pad.
Can I use a Broker? A real estate professional is your expert and your advocate. They will work on your behalf throughout the process of building or buying new construction. Brokers help you understand the contracts, the key steps, manage negotiations (you may not get much off the price in these heady days, but you might get a few freebies.) Do not walk through the door or sign in without bringing your broker in the first time. Commercial projects require pre-set appointments so this would be more difficult than residential where the showrooms beckon.
Bottom Line for New Construction
Don’t go it alone when choosing new construction. Builders factor in the cost of commission and they don’t back it out if you’re unrepresented. They pocket the difference. So use that money to your benefit.
At Kentwood Real Estate we have both residential and commercial brokers who understand first-generation space. Contact us for all of your Denver and Fort Collins, Colorado real estate needs!
Kentwood Real Estate is pleased to announce the residences that were sold by Kentwood Brokers in September 2020 priced over $2,000,000. The listings and sales had a total sales volume of over $42,000,000.
“Kentwood Real Estate is made up of 240 Broker Associates serving homebuyers and sellers all along the Front Range of Colorado,” said Gretchen Rosenberg, president and CEO of Kentwood Real Estate. “They are among the top Realtors in the nation, producing more sales volume per agent than 99 percent of all real estate companies in the U.S. Their knowledge and expertise in real estate is so valuable, and I’m honored to work alongside these consummate professionals.”
The significant sales in the month of September for Kentwood Real Estate are as follows:
Kentwood Broker Associate Wendy Glazer, part of the Denver’s Top Team, represented the seller of a 7 bedroom, 7 bath, 7,882 square-foot home in the beautiful Crestmoor Park Neighborhood that sold for $3,325,000. The sensational estate features a blend of modern and traditional architectural styles, starting with the 20-foot tall ceilings upon entering the massive mahogany front door that leads you to a floating staircase with a natural stone wall feature. The open floor plan showcases a large black-coated fireplace, and a gorgeous kitchen with two white marble quartz kitchen islands made for entertaining. Outside, enjoy Denver’s fine weather with folding glass doors, totally opening up to a heated back patio, a fireplace, and a BBQ island looking out onto the professionally landscaped and manicured yard.
Kentwood Broker Associate Edie Marks represented both the buyer and the seller of a 6 bedroom, 7 bath, 10,457 square-foot home located in The Preserve in Greenwood Village that sold for $2,900,000. The extraordinary craftsmanship of the executive home features a perfect blend of spaces for major entertaining and comfortable family living. The ¾-acre site boasts magnificent trees, a pool, fabulous waterfall and an exceptional outdoor kitchen. From its exceptional location backing to the Nature Preserve, this home has a unique combination of panoramic views and privacy.
Kentwood Broker Associate Blake O’Shaughnessy represented the seller of a 6 bedroom, 6 bath, 5,614 square-foot home in Bonnie Brae that sold for $2,880,000. The absolutely stunning custom-built Chalet home on one of the very best blocks in all of Bonnie Brae has remarkable craftsmanship. The perfectly blended architectural details are showcased as you enter the gracious foyer with paneled walls and a neutral-textured palette. The interior features a beautiful formal living room, home office, stately dining room with dry bar, and gourmet eat-in kitchen with designer finishes, a large marble island, and a walk-in pantry. The adjacent spacious family room with fireplace, coffered ceilings, and abundant light offers excellent flow for entertaining. The huge professionally-landscaped backyard comes complete with two entertaining patios, a built-in grilling station, and a fireplace. This home offers not only privacy and style but grand elegance in a truly spectacular setting.
Kentwood Broker Associate Nancy Nielsen represented the seller of a 5 bedroom, 5 bath, 6,506 square-foot home in Cherry Hills Village that sold for $2,843,050. The dramatic architectural custom masterpiece was designed by renowned architect Sears Barrett. Built on extra-deep caissons down to bedrock, this one-of-a-kind estate offers a tranquil Colorado lifestyle on over two lush acres with spectacular panoramic mountain and valley views. The welcoming entry opens to a great room with a wall of windows and features reclaimed wood floors, 16-foot wood beam and plank ceilings, a fireplace, and glass doors leading to an amazing peaceful outdoor living space. The circular staircase leads to the upper-level loft and private north wing with three bedrooms, each with private baths, balconies, and amazing views.
Kentwood Broker Associates Sandy Weigand and Chuck Gargotto represented the seller of a 5 bedroom, 7 bath, 7,595 square-foot home in The Preserve that sold for $2,525,000. Kentwood Broker Associate Gina Lorenzen represented the buyer of this home. The beautiful Tom Sattler-built modern French Country designed home has a gracious stone and stucco exterior for stunning curb appeal. The interior quality is evident throughout with knotty alder wood scrapped edge cabinetry, granite, and white oak flooring. The floorplan features a family room with high-volume beamed ceiling and beautiful stone fireplace and a richly-appointed main floor study. The finished basement offers a large family recreation space, a 1,000-bottle wine cellar, two baths, and the fifth bedroom.
Kentwood Broker Associate Edie Marks represented the seller of a 3 bedroom, 5 bath, 4,908 square-foot home in Cherry Creek North that sold for $2,195,000. Kentwood Broker Associate Sandy Weigand represented the buyer of this home. Located on one of Cherry Creek North’s premier streets, close to everything, but out of the congestion, this extraordinary home is pristine. Designer Jan Turner Hering of Newport Beach, California is responsible for the exceptional finishes and appointments that define the stunning architectural features throughout.
Kentwood Real Estate also represented the buyers of seven luxury homes that sold in September as follows
Blake O’Shaughnessy represented the buyer of a home in Denver Country Club that closed for $3,575,000.
Kentwood Broker Associates Ann Kerr & Charlotte Connolly represented the buyer of a home in Cherry Hills Village that closed for $2,775,000 .
Kentwood Broker Associate Josh Steck represented the buyer of a home in Buell Mansion that closed for $2,530,000.
Kentwood Broker Associates Jennifer & Todd Markus represented the buyer of a home in Greenwood Village that closed for $2,475,000.
Kentwood Broker Associates Jennifer & Todd Markus represented the buyer of a home in The Preserve that closed for $2,092,500.
Kentwood Broker Associate Stock Jonekos represented the buyer of a condo in Cherry Creek North that closed for $2,075,000.
Notably, in 2019, Kentwood Real Estate represented four of the top 10 highest-priced home sales in metro Denver, more than any other brokerage in the top 10, according to REColorado data. To learn more about Kentwood Real Estate and available listings, visitwww.Kentwood.com.
Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the mountains, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed.
Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make: should I move before I retire? If the mountains and sun are calling your name and you have the opportunity to work remotely for the foreseeable future, now may be a great time to purchase that mountain cabin you’ve always dreamed of or the single-story home in the sprawling countryside. You may prefer a one-story highrise condominium with killer views. Whether it’s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to round out a long and meaningful career.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“The pandemic was unexpected, working from home was unexpected, but nonetheless many companies realized that workers can be just as productive working from home…We may begin to see a boost in people buying retirement homes before their retirement.”
According to the 20th Annual Transamerica Retirement Survey, 3 out of 4 retirees (75%) own their homes, and only 23% have mortgage debt (including any equity loans or lines of credit). Since entering retirement, almost 4 in 10 retirees (38%) have moved into a new home. They’re making a profit by selling their current homes in today’s low inventory market and using their equity to purchase their future retirement homes. It’s a win-win.
Why These Homeowners Are Making Moves Now
The health crisis this year made us all more aware of the importance of our family and friends, and many of us have not seen our extended families since the pandemic started. It’s no surprise, therefore, to see in the same report that 32% of those surveyed cited the top reason they’re making a move is that they want to be closer to family and friends (See graph below):
The survey also revealed that 73% percent of retirees currently live in single-family homes. With the overall number of homes for sale, today hitting a historic low, and with the buyer demand for single-family homes skyrocketing, there’s never been a more ideal time to sell a single-family home and make a move toward retirement. Today’s market has the perfect combination of driving forces to make selling optimal, especially while buyers are looking to take advantage of low-interest rates.
If you’re one of the 73% of retirees with a single-family home and want to move closer to your family, now is the time to put your house on the market. With the pace homes are selling today, you could essentially wrap up your move – start to finish – before the holidays.
Whether you’re looking to fully retire or to buy a second home with the intent to use it as your retirement home in the future, the 2020 fall housing market may very well work in your favor. And what better place to retire than to the various landscapes and 300 days of sunshine in Colorado. Visit www.Kentwood.com to connect with one of our brokers to discuss your next chapter.
Kentwood Real Estate is pleased to announce the residences that were sold by Kentwood Brokers in August priced over $2,000,000. The listings and sales had a total sales volume of over $44,000,000.
“Our Brokers are passionate about real estate and inspiring people to take the next steps in their life journey,” said Gretchen Rosenberg, President and CEO of Kentwood Real Estate. “We’re rooted Colorado; in the belief that we accomplish more together. The exceptional real estate expertise of our Brokers has continued to position our brand as the preeminent source for luxury real estate in Colorado for four decades.”
The significant sales in the month of August for Kentwood Real Estate are as follows:
Kentwood Broker Associates Gina Lorenzen and Linda Hantman represented the seller of a five-bedroom, seven-bathroom, 7,818-square-foot home in Cherry Hills Village that sold for $4,695,000. Residing on two private acres near Cherry Hills Country Club, this magnificent residence is surrounded by lush grounds with a pond. The whitewashed brick exterior is accentuated by a slate roof and iron balconies. At the heart of the home is an open-plan great room with double-height beamed ceilings and professional-grade chef’s kitchen. The upper loft is flanked by four en suite bedrooms, including a private master suite with a sitting room, balcony, walk-in closet, and spa-like bath. The fifth en suite is found in the lower level along with the recreation room and wine cellar. This home highlights exceptional Colorado living.
Kentwood Broker Associate Karen Brinckerhoff represented the seller of a five-bedroom, six-bathroom, 7,040-square-foot home in Littleton that sold for $3,800,000. The property has sweeping views through every window of the mountains, red rocks, meadows, wildlife, and city. The completely renovated interior, designed by the award-winning architect from RKD, Jack Snow, features a gourmet kitchen, luxurious master suite, and five-piece master bath with a steam shower. Positioned on 13.51 acres of pristine landscape that is enhanced by the mountain backdrop, this equestrian estate is equipped with a three-stall two-story barn with a tack room, equestrian riding arena, and fenced pasture. Truly a Colorado dream home in the perfect location close to everything.
Kentwood Broker Associate Gina Lorenzen represented the seller of a three-bedroom, four-bathroom, 6,521-square-foot home at Hilltop’s highest point on Cranmer Park that sold for $3,500,000. The iconic contemporary-designed, custom-built home on a rare, expansive 26,500 square-foot lot is one of the most significant residences in Denver. The original design was by award-winning New York architect, Michael Gabellini. The sleek and modern interiors feature an extensive open living area and study/library surrounded by expanses of glass, creating a bright, airy space with stunning views of the Front Range. Designed for sophisticated entertaining and comfortable living, the interior has soaring ceilings, four impressive fireplaces, and magnificent wall spaces to accommodate substantial artwork. An enviable location with unrivaled views – the home is a true modern masterpiece.
Kentwood Broker Associates Tim Colleran and Whitney Harris represented the seller and Broker Associates Brandon Brennick and Anna Brady represented the buyer of a five-bedroom, seven-bathroom, 5,661-square-foot home in the heart of Belcaro in Denver that sold for $2,580,000. The stunning contemporary home features sleek and sophisticated finishes throughout the open concept floorplan, including a floor-to-ceiling marble double-sided fireplace between the dining and front sitting rooms. The luxurious master suite offers a fireplace, relaxing sitting area, a private balcony, and a spa-like bath. This is a true Belcaro gem.
Kentwood Broker Associates Kelly Sophinos and Greg Margheim represented the seller of a six-bedroom, eight-bathroom, 8,682-square-foot home in Greenwood Village that sold for $2,575,000. The open beam architecture and European-designed custom two-story home is situated on almost one acre with gorgeous mountain views.
Kentwood Broker Associates Patty Ryan Anton and Greg Card represented the seller of a four-bedroom, four-bathroom, 4,472-square-foot home in Washington Park that sold for $2,444,000. The Monterey style-home is surrounded by nature and is crisp and bright throughout. The main focus in this wide-open floor-plan is gazing out through wall-to-wall sliding glass doors to the massive patio overlooking Washington Park.
Kentwood Broker Associate Christy Owen represented the seller and Kentwood Broker Associate Jim Rhye represented the buyer of a four-bedroom, five-bathroom 4,406-square-foot home in the Country Club neighborhood of Denver that sold for $2,375,000. The classic two-story, red-brick Georgian home, is sunny and open with a charming sunroom opening to an awning-covered terrace outside. The outdoor space features a large patio with wonderful indoor-outdoor living and entertaining elements.
Kentwood Broker Associate Berenice Bejarano represented the seller of a five-bedroom, six-bath, 6,123-square-foot home in the historic Denver Country Club community of Denver that sold for $2,300,000. The skylights throughout the home create a light-filled interior. The open floor plan offers the perfect flow, and includes three fireplaces, charming finishes, an expansive master bedroom, and a walk-out basement with its own kitchenette and washroom, creating a private guest suite. The large backyard has a pool, built-in barbeque, and jacuzzi – offering exceptional outdoor living.
Kentwood Broker Associates Roy Lopez and Jonathan Lopez represented the seller of a six-bedroom, six-bath, 6,740-square-foot home in Greenwood Village that sold for $2,100,000. The stunning remodeled home in The Preserve is a rare property with great outdoor living amenities. Situated at the end of a cul-de-sac and with gorgeous curb appeal, the new front-entry door opens up to a grand foyer with its soaring ceilings. The family room has an impressive stone wall fireplace, the stylish dining room is connected to the butler’s pantry and wine chiller, and there is an outdoor gourmet kitchen with a refrigerated beer tap, Kalamazoo grill, pizza oven and split smoker – perfect for fabulous dining experiences.
Kentwood Broker Associates Bryan Uhl and Kris Uhl represented the seller of a four-bedroom, five-bathroom, 4,673-square-foot two-story brick home in the heart of Old Crestmoor in Denver that sold for $2,045,000. The beautiful home features formal living and dining rooms coupled with a wonderful flow for entertaining – amazing windows and natural light throughout. The chef’s kitchen boasts Quartzite and Silestone countertops and opens to a large family room with beautiful antique reclaimed pine flooring and an oversized granite hearth with wood burning fireplace. There is also a private master suite with French doors opening to a large deck overlooking the professionally landscaped park-like backyard.
Kentwood Real Estate also represented the buyers of four luxury homes that sold in August as follows:
Kentwood Broker Associate Allison Craig represented the buyer of a home in Denver’s Cranmer Park neighborhood that closed for $2,025,000.
Notably, in 2019, Kentwood Real Estate represented four of the top 10 highest-priced home sales in metro Denver, more than any other brokerage in the top 10, according to REColorado data. To learn more about Kentwood Real Estate and our available listings, visit www.Kentwood.com.
Kentwood Real Estate broker, Gina Lorenzen, listed and sold this custom-built home located at Hilltop’s highest point on Cranmer Park. This home was designed by award-winning New York architect, Michael Gabellini.
Check out the article on Denver Business Journal to learn more about the history of this home, and Ginny Williams — the late art collector and philanthropist who previously owned it.
Listed by Sandy Weigand and Chuck Gargotto 1 Polo Club Lane has been listed at $8.95M. The owners spared no expense in entirely rebuilding and renovating this 5-bedroom, 7-bath residence to create a stunning transitional Beverly Hills style designer jewel. With inspiring indoor and outdoor spaces everywhere, clean modern lines blend harmoniously with tradition throughout the property.
Read more about this incredible property on the Denver Business Journal site by clicking here!
Owned by the founder of Hill and Robbins law firm, Bob Hill is listing his Cheesman Park home, having lived there since 1993. The property is listed at $3.5 million by Jim Rhye from our Kentwood Cherry Creek office.
The home, built in 1930, was designed by Fisher & Fisher – a well known architectural firm in Denver known for several prominent homes and buildings.
Whether it’s the 300 days of sunshine per year, close proximity to the Rocky Mountains, the thriving economy, or the vibrant arts and entertainment culture, it’s easy to see why Denver, Colorado has been one of the fastest-growing cities in the United States for the last several years. To boot, just a short drive from this bustling city center are beautiful communities like Boulder, Erie, Niwot, Fort Collins and more throughout northern Colorado.
If you’re ready to make Colorado your home, it’s important to
go into the relocation process with as much information and support as possible, as moving to a new area and navigating the ever-changing real estate landscape can quickly become overwhelming.
Choosing a trusted Realtor® with extensive local knowledge and relocation experience will help make the transition for you and your family as easy as possible. Here are five questions you should ask your Realtor® to ensure a seamless relocation process to Colorado:
1. Which moving company should I use?
The making or breaking point, quite literally, of any successful move is selecting a reputable moving company to transport all your possessions. Kentwood Real Estate is affiliated with two of the top moving companies in Denver, both of which have been through an intense screening process and must maintain stringent standards set by our management. Click here to learn more about our moving partners.
2. What relocation-specific services are offered?
Kentwood Real Estate’s first-class relocation services assist with all components of the relocation process, from buying and selling a home, moving household goods, to finding temporary housing and rental services. We support our clients throughout the entire transition and transaction process.
3. Will you help me choose the right school district?
Colorado public schools are highly regarded, and therefore most children attend public school. However, there are many private school options available as well. From prestigious preparatory schools to private religious-affiliated schools, Denver has it all, and our Relocation department can compile a personalized school report custom-tailored to your family’s needs.
4. Can you help me sell my current house?
Kentwood Real Estate includes our offices, Denver Tech Center, Cherry Creek, City Properties and Northern Properties, all of which have been accepted to the esteemed International Real Estate Network, Leading Real Estate Companies of the World® (LeadingRE) and Luxury Portfolio International®. Being part of this invitation-only network means we have access to trusted real estate partners in over 70 countries and 565 firms to help you sell your current home, and make the entire process as seamless as possible.
5. What does Kentwood’s RELO Quality Certificate mean for me?
Developed to identify the top relocation departments in the Leading Real Estate Companies of the World® network, this program recognizes outstanding efforts by those who go beyond expected quality service, and instead choose to excel in their field.
The standards for the certification are built upon a foundation of core values: company commitment, leadership, customer and results focus, education and resource allocation. Using a rigorous set of criteria, all aspects of a relocation department are carefully considered. From business plans and website design to service evaluations and workplace environment, the thoroughness of the screening process guarantees that those approved have truly earned the designation, “best of the best.” Reviews ensure that these high standards are maintained, making the certification a legitimate industry benchmark. Look for the symbol of relocation excellence; it’s the only guarantee you’ll ever need.
Kentwood Real Estate provides first-class relocation services for families who are looking to relocate to the Mile High City and its surrounding areas, as well as beautiful communities throughout Northern Colorado like Fort Collins, Tinmath, Windsor and Johnstown. As a member of the world’s most esteemed Leading Real Estate Companies of the World® (Leading RE) and Luxury Portfolio International® networks, our clients can be confident that they have access to our global reach and local expertise. Click here to contact one of our relocation specialists today.
Statistically, Denver is Still in a Seller’s Market
With 1.73 months of housing inventory across all price ranges in the Denver area, we are technically still experiencing a seller’s market. Homes priced above $1 million have the most inventory, however, with single-family homes at 4.93 months of inventory, just under the five months that signify a balanced market. The month of July ended with 4.36 months of condo inventory. Large condo projects like Laurel in Cherry Creek have been closing on units, pushing up the number of higher-priced condo sales.
Home Prices are Peaking
The average sold price in the residential market in July was $498,960, down slightly from June’s $500,010, still up 4.27% year over year. The median sold price was up slightly month over month to $434,000 from $429,000. The average single-family home price was up 0.58% from June to $551,516. Year to date, the average sold price was up 1.83%. The average condo sale price was down 1.46% in July to $362,922; this is lower than the past three months, but up 3.01% year to date.
Sellers Homes on the Market for What Felt Like a Long Time Compared to Last Year
The median days on market for single-family homes and condos was up 37.50% month over month to 11 days. While that percentage may seem high, home sellers only had to wait three more days to sell their homes in July this year compared to last. Year to date it’s taking, on average, 29 days to sell a home compared to 24 days last year.
Metro Denver is a seller’s market by months of inventory, but continues to head toward a balanced market, with conditions favoring buyers — like historically low interest rates, price reductions, and more homes to choose from with more time to choose.
Home offices were once thought of as a luxury. But these days more and more homes are coming equipped with secluded studies where you can read, write, or work in peace. These Kentwood listings feature beautiful in home offices that are the perfect place to conquer any work load, read your favorite novel, or simply escape.
Welcome to this rare version of the Richmond “Allison” Model. First Villas offering of the extended floorplan, adding a spacious sunroom area, and enlarging the basement and the loft spaces totaling 2,930 square feet above ground. The home offers an option of 4 bedrooms plus a study with beautiful bay window or 5 bedrooms including large closet space. The Villas is a private gated community with ponds and gazebo and is just blocks from bus, light rail, and Belleview Station restaurants!
Impeccably-designed former model home from David Weekley. Three fully finished levels ideal for relaxing and entertaining. Light-infused front office on main level features 10′ ceilings and tasteful wood detailing. Versatile upstairs loft with granite desktop, built-in shelving and dual workspaces.
Exquisite golf course community home backing to the fairway with views of pikes peak and the Saddle Rock neighborhood and community. This home has an incredible interior experience featuring an Architect’s home office reflecting his projects of Denver Architecture on the walls. This home features his and her offices. Much like The Wizard of Oz – “there’s no place like home”.
Situated in a home built in 1904, this cozy office is surrounded by south facing windows that afford natural light all day long. Beautiful wood trim and molding, with original wall sconces make this the perfect hide away to conquer the business world or to curl up and read a book.
The moment we walked into this wonderful home, the study became our favorite room. Nestled up away from the rest of the plan, hidden behind double doors and cozy with the warmth of fire, we were immediately drawn here! You will be too!