Colorado Real Estate News

CEO Reflections

Written by Kentwood Real Estate President and CEO Gretchen Rosenberg

Rooted in… Security

September is the National Association of REALTORS annual safety month. It’s a time to reflect on how to keep ourselves safe and secure in the wake of malevolent or treacherous behavior in the field. We remind our team at Kentwood Real Estate to use smart and safe business practices.

Safety in Real Estate

What are our best practices for safety? Always have a friend or colleague who knows where you’ll be and when. When meeting a new prospect, screen them first and have your friend or colleague give you a call a few minutes into the meeting to check-in.

We advise our brokers to meet new prospects ahead of showings to take a copy of their ID and to pre-screen their interest and qualifications. In fairness to all prospects, we must treat everyone equally and equitably when setting up these pre-showing meetings.

At open houses, have a front and back door open. Keep your phone in your hands. Never venture to another floor with guests. Advise homeowners to clear their house of valuables, medicines and to lock their computer screens. Trust your gut if something doesn’t feel right! These are the most basic advisories for real estate broker and client safety.

Safety’s New Meaning

In the COVID-19 era, “safety” has taken on more color and nuance. We strive to keep ourselves and our clients safe from a pandemic while assisting them to purchase, sell, or lease their home or commercial property.

Recently, one of our Kentwood Brokers told me her “buyer kit” now consists of gloves, masks, and booties, along with a few bottles of hand sanitizer. These are the items she carries in a basket in her car. I reminisced that when I was still showing property, our buyer kits and car baskets consisted of bottled water, small toys, and snacks. Clients are less interested in taking water or snacks from us, they want to know we’re focused on their wellbeing.

During REALTOR Safety Month, Kentwood brokers are doing their part to keep themselves and their clients safe and secure. We hope everyone can accomplish their real estate dream without the stress of an unsafe environment.

Colorado Real Estate News

Kentwood Real Estate Announces Sales Totaling Over $44 Million For August

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.

Estate in Cranmer Park sold for $3,500,000

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.

Estate in Belcaro sold for $2,580,000

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.

Estate in Greenwood Village sold for $2,575,000

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.

Estate in Washington Park sold for $2,444,000

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.

Estate in Country Club neighborhood sold for $2,375,000

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.

Estate in historic Denver Country Club community sold for $2,300,000Kentwood 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.

Estate in Greenwood Village sold for $2,100,000

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.

Estate in the heart of Old Crestmoor in Denver  sold for $2,045,000

Kentwood Real Estate also represented the buyers of four luxury homes that sold in August as follows:

Kentwood Broker Associates Patty Ryan Anton and Greg Card represented the buyer of a home in Steamboat Springs that closed for $3,950,000.

Kentwood Broker Associate Amanda Fein represented the buyer of a home in Denver’s Lower Highlands that closed for $2,500,000.

Kentwood Broker Associates Thomas and Rosanne Dutzer represented the buyer of a home in Denver that closed for $2,300,000.

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.

Colorado Real Estate News

Denver home of late art collector, philanthropist Ginny Williams sells for $3.5M

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.

Click here to read the full article!

Colorado Real Estate News

CEO Reflections

Written by Kentwood president and CEO Gretchen Rosenberg

Rooted in… Change

In 1996 when I embarked on my career in real estate, I quickly learned that no two transactions, no two clients and no two co-op agents would ever be the same.

Experienced real estate brokers, whether they practice residential, commercial or leasing services, know this is a fluid business. They understand how change impacts people’s need for different surroundings. They also become adept at managing expectations and outcomes.

Managing Expectations

It’s reasonable for you to believe your real estate broker will be honest, forthright and ethical throughout your relationship and transaction. In fact, we have a duty to be just that. These relationships are bi-lateral, however, and in order to have the best working relationship it’s important for the consumer to be able to receive news and advice from their broker with an open mind. The best way I found to help clients manage expectations was to give them their options, wait a beat, and then ask them if they had any questions and how they wanted to proceed.

Managing Outcomes

Once the options are weighed, sometimes with the advice of counsel, sometimes with the input of home inspectors, the next steps can be plotted. This is where an adversity to change can negatively impact the outcome. Real estate isn’t a zero-sum game, there are people on the other side of the transaction. People with their own motivations, hopes and desires. We must always keep the best outcome for our client front and center, while being open to changing course, giving here and there, or getting what we may not have expected. That’s negotiation.

Changes in circumstances, even when they’re a positive step forward in a life plan, can cause stress and anxiety. Top real estate brokers are attuned to this dynamic and assist their clients in finding the best way forward.

At the end of all of this change lies the outcome, and this is what Kentwood has always been about. Results for the people who have entrusted us with their life changes.

Our company purpose says it best:

At Kentwood, we believe in community.

That we accomplish more together.

That deep roots matter.

We inspire people to imagine the next steps in their life journey.

Colorado Real Estate News

Polo Club mansion listed for $8.95M

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!

Colorado Real Estate News

Real Estate Market Trends

Despite the Pandemic, 2020 Denver-area Housing Market is Hot!

Amid the COVID-19 global pandemic, the 2020 metro-Denver housing market is on pace to outperform last year’s record-breaking real estate market.

If you recall, July of this year hit a record high number of home sales in any given month in metro Denver. In August, while home sales dropped compared to July by nearly 19%, the 5,959 total homes that did sell signified the most sales for any month of August on record. Yet, at the same time, the number of active listings at month end in August was down 41% year to date compared to 2019. So, if there were more homes available on the market in August, there is no doubt many more would have sold.

Single-family Homes are Scarce

Homebuyers looking to purchase a single-family home really struggled because there were 50% fewer single-family homes for sale year over year in August. Furthermore, single-family homes priced between $500,000 and $749,999 had only 0.66 months of inventory which is an extreme seller’s market where demand outpaces supply. Based on that number, the market would technically be out of homes for buyers to purchase in two to three weeks if no other inventory hits the market.

Home Prices Still on the Rise

As buyer demand continues to outpace supply, prices continue to go up. The average price for a single-family home hit another breaking record at $606,330 in August, an increase of 5.6% year to date.

Condo sales weren’t doing quite as well as average August prices were down month over month in August, but still up 2.6% year to date. The Denver market is a seller’s market across the board except for condos priced over $1 million where the market is more balanced between buyers and sellers.

If these current trends continue, COVID-19 may have just been a blemish on our year-end housing figures, as the Denver-area market is insulated by strong population growth, a variety of industries and quality of life that isn’t going anywhere.

Colorado Real Estate News

Top Home Repairs Before Winter

How a homeowner prepares their home for the fall and winter seasons will not only save on future repair costs but shows future home buyers what great shape your home is in. If you’re anticipating your home for the next summer season, be sure to follow Kentwood Real Estate’s Fall Home Maintenance Checklist.

  • Clean gutters and downspouts throughout the season. Freezing temperatures don’t mix with gutter blockage. Be sure your gutters are directing the flow of snow and rain through the gutter system away from your home’s foundation and roof.
  • Have lawn irrigation system professionally drained/winterized. For Colorado newcomers, you must have your lawn irrigation systems professionally blown-out. If not, cold air temperatures will freeze water trapped in the pipes throughout the home.
  • Inspect roof for curling, missing or broken shingles. An out-of-sight roof needs to be checked for any missing shingles. Without shingles, water and snow can slip under the other shingles and become trapped – risking the entire roof. Don’t risk your roof because you can’t see it, call a contractor.
  • Cover and store outside furniture. A no-brainer, but necessary tip for winterization. Although you can certainly enjoy the Colorado sun outside in the winter, be sure to cover your furniture. Furniture is expensive and will fade and damage with freezing rains and intense sun.
  • Trim trees and bushes. Often the first thing future homebuyers will notice is your landscape. Be sure you prevent tree and shrub winter damage by trimming back any overgrown shrubs or trees whose branches can accumulate snow, whose weight can collapse the branch onto the home.
  • Check and inspect decks. The decks are especially susceptible to winter’s wrath. Not only will their stain fade due to the sun, but freezing rain can also seep into the wood and expand, affecting the deck’s shape and panels.
  • Make sure attic and crawl space have adequate insulation. Your home’s heat is most susceptible to the chilly outside air from leaks and inadequate insulation in your roof and crawl space. Keep the cold out and heat in by checking for missing insulation.
  • Test all smoke detectors and carbon monoxide detectors. Did you know carbon monoxide poisoning occurs the most in the winter season? While we bundle up inside from the cold, a carbon monoxide leak is most deadly if our alert systems haven’t been tested.
  • Check air vents to make sure they aren’t blocked. Make sure heat is spread evenly throughout the house by checking for blocked air vents. Dirty air filters, dust, and dirt are the most common culprit, but be sure there’s no leaking or damaged ductwork or furniture is not blocking the vent.

These are a few of our top fall home maintenance tips before the temperature drops. The highest costing repairs are often preventable by conducting regular checkups. If you do find an issue, don’t hesitate to reach out to Colorado’s top real estate brokers at Kentwood Real Estate for referrals to trusted contractors and specialists.

Colorado Real Estate News

Top 5 Reasons Why Real Estate Won’t “Fall Back” in 2020

Written by Kentwood Real Estate President and CEO Gretchen Rosenberg

2020 has been a year like no other. At Kentwood Real Estate, our hearts go out to the families impacted by COVID-19 due to the loss of a loved one, a personal illness, or the loss of employment or housing.

An unexpected outcome from this massive disruption is the roaring housing market. Who could have predicted in March, when we fell off a cliff and couldn’t show homes or safely put new listings on the market, that we’d be booming in September? Now that we’ve figured out how to safely work in this environment, we’re helping countless consumers find a home or sell their current one. We’ve also been helping landlords re-lease their properties and tenants find a place to rest their head. Kentwood Commercial closed the largest office lease since COVID-19 began at the end of August.

Why is all of this happening and how long will it last?

Here are 5 reasons I believe Fall 2020 will continue to be a robust market:

  1. Homeschooling. Families with school-age children are coping with working from home and learning from home. Some homeowners need to relocate closer to daycare or family so the parents can go to work while the children are still at home. Others want more space.
  2. Financing. Mortgage rates are insanely low and are projected to stay this way through at least the first quarter of 2021. Currently, a 30-year fixed rate is bouncing between the high 2%’s and low 3%’s.
  3. Pent up demand. We have a lot of buyers living in Colorado and coming to Colorado, and not enough inventory. Universally in every price point except the very high end, we’re selling around 50% of new listings in 7 days or less.
  4. First-time home-buyers. The millennials are of home buying age. Those that aren’t laden with student debt and have a bit of savings or help from family are launching into home-ownership. They understand what a boon to their futures home-ownership at 3% means.
  5. Spring delay. We got a late start this year. In Colorado, we like to say the spring home sales market starts in early January unless the Broncos are in the playoffs. Then it starts in early February and lasts through the end of May or mid-June. This year, our spring market was delayed until early May. We still have a large number of buyers hoping to find their next home by year-end. We’ll have a shorter gap between the selling season lull in 2020 and the spring market in 2021. We may not even see much of a lull at all this year.

What does this mean for you if you’re considering buying or selling a home? That you should proceed with the help of an experienced broker who can help you wade through the myriad complexities of the housing market, or the commercial real estate market, in this day and age. Buyers may be able to find more deals in the coming months, but there’s every likelihood that in many price ranges bidding wars will continue. Homeowners who are thinking of selling will need to carefully assess pricing, marketing plans, and whether to stage the property.

We’ll be “falling back” to standard time on November 1st, but these times are anything but standard.

Colorado Real Estate News

Homebuyers drive up prices as Denver inventory hits all-time low

The current housing market in the Denver area remains a competitive seller’s market. As inventory continues to diminish, homebuyers find themselves competing against one another.

See the link below to read more about the Denver housing market and demand for homes. Kentwood real estate broker Jill Schafer discusses her thoughts on the market, and market insights.

Click here to read the BusinessDen article.

Colorado Real Estate News

Top Denver-Area Luxury Homes sold in Q2

Lakehouse, located on Sloan’s Lake in Denver, was designed to blend comfort and sustainable design. With an extensive list of amenities, and no detail overlooked, it is Colorado’s only WELL Precertified community. Lakehouse provides a healthy and connected lifestyle, some amenities include a yoga studio, a pet spa, and an organic garden. Our Kentwood City Properties agents Dee Chirafisi, Kevin Garrett, and Matt McNeill are the exclusive listing agents at Lakehouse.

Denver Business Journal reports that Lakehouse “accounted for 6 of the top 25 attached home sales in the Denver metro in the second quarter, including a $3.3 million penthouse that claimed the No. 1 spot.” Check out their article to learn more!

See the link below for the full article: https://www.bizjournals.com/denver/news/2020/09/02/denver-luxury-home-sales-q2-2020.html