Colorado Real Estate News

Frequently Asked Questions for Homesellers

You may be hesitant to sell your home. We get it. The memories are profound. Perhaps the window overlooking the willow tree will always be where your cat perched, or the bathroom is where you realized your family of three was soon to be a family of four. Although it may seem challenging to move on from your house, a new home will provide a better canvas for new memories to bloom in a space better catered to you and your family’s needs. So, let’s dig in and alleviate some questions you may have. 

1. Should I sell my home now? Why?

Absolutely. The real estate market is white-hot right now and homesellers are benefiting greatly. According to the Denver Metro Association of Realtors®’ June Market Trends Report, the average increase in active listings from April to May is 8.11 percent. However, May of 2021 saw a decrease of 20.01 percent, the most significant month-over-month decrease on record. The only other month-over-month decrease came in 2000 at 3.15 percent. With scarce inventory, millennials reaching peak homebuying years and the renewed importance of home, hungry buyers are clamoring to purchase properties and are willing to pay a premium for their dream home.

Are you not convinced? According to Realtor.com, the national median listing price increased 15.20 percent from the previous year, hitting $380,000. The market is on fire and waiting for you to capitalize on it, but sellers should act fast. Interest rates dipped below 3.00 percent at the end of May, but low rates won’t be here for the long term. Homebuyers have greater purchasing power with lower interest rates so selling your home now or within the next few months will earn you the most value for your residence.

2. Are there costs to selling my house?

Yes. Typically, you must pay 10 percent of your home’s value in fees and expenses. 

Selling expenses can break down into the following categories:

  • Prepping and staging your home 
  • Real estate agent’s commission
  • Repair costs
  • Seller concessions 
  • Homeownership costs
  • Closing costs 

However, with residential real estate’s close-to-list price of 105.92 percent in the Denver metro during May 2021, that additional income can take care of a great deal of the costs.

3. How long will it take to sell my house?

Waiting for your house to sell used to feel like watching paint dry. But the good news is that the average is much lower than you’d think. According to the Denver Metro Association of Realtors®’ June Market Trends Report, homes are flying off the shelves. May 2021’s residential real estate had average days in MLS of only 11 compared to 24 days a year ago. 

4. What can I do to maximize my profits?

Making your home as presentable and appealing will enable you to receive as much profit as possible. Consider fixing minor aspects of the house, such as leaky plumbing and loose doorknobs. Keeping the yard maintained is a simple fix that could make a significant difference—adding fresh mulch in flower beds or new pine straw to give an orderly first impression to prospective buyers. Presentation is everything. For some expert guidance, Kentwood’s unique Amplify service grants you access to a curated team of professionals trained on how to best enhance your home’s appearance and value with no cash out of your pocket until your property is sold. 


If you are on the fence about selling your home, you should strongly consider listing it now, as the conditions are primed to earn you a large amount of cash for your property. The memories and familiarity may seem challenging to move on from, but the comfort and joy that you created in your old house can be brought with and improved upon to make any new space your home, along with benefiting from a better-suited environment. For assistance with selling your residence and navigating our unique market conditions, contact an experienced Kentwood broker today. 

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

Law firm founder lists Cheesman Park home for $3.5 million

Check out the full article on BusinessDen 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.

Learn more about the property and its history by visiting BusinessDen.com!

Colorado Real Estate News

The Top Reasons People Are Moving This Year

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many people to re-evaluate what homeownership means and what they find most important in a home.

In 2019, 67,000 people moved to Colorado according to the US Census Bureau. In July, the Front Range Housing Market remained very competitive. Many sellers were collecting multiple offers over asking price as people continue to move to and around the front range

According to Zillow:

“In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.” 

With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and making moves this year.

1. Working from Home

Remote work is becoming the new norm in 2020, and it’s continuing on longer than most initially expected. Many in the workforce today are discovering they don’t need to live close to the office anymore, and they can get more for their money if they move a little further outside the city limits. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR) notes:

“With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”

If you’ve tried to convert your guest room or your dining room into a home office with minimal success, it may be time to find a larger home. The reality is, your current house may not be optimally designed for this kind of space, making remote work and continued productivity very challenging.

2. Virtual Schooling

With school about to restart this fall, many districts are beginning the new academic year online. Education Week is tracking the reopening plans of schools across the country, and as of August 21, 21 of the 25 largest school districts are choosing remote learning as their back-to-school instructional model, affecting over 4.5 million students.

With a need for a dedicated learning space, it may be time to find a larger home to provide your children with the same kind of quiet room to focus on their schoolwork, just like you likely need for your office work.

3. A Home Gym

Staying healthy and active is a top priority for many Americans. With various levels of concern around the safety of returning to health clubs across the country, dreams of space for a home gym are growing stronger. The Home Builders Association of Greater New Orleans explains:

“For many in quarantine, a significant decrease in activity is more than a vanity issue – it’s a mental health issue.”

Having room to maintain a healthy lifestyle at home – mentally and physically – may prompt you to consider a new place to live that includes space for at-home workouts.

4. Outdoor Space 

Especially for those living in an apartment or a small townhouse, this is a new priority for many as well. Zillow also notes the benefits of being able to use yard space throughout the year:

“People want more space in their next home, and one way to get it is by turning part of the backyard into a functional room, ‘an outdoor space for play as well as entertaining or cooking.’”

Many urban dwellers remain enamored with the dynamic urban lifestyle and still enjoy condo living. Those that wish to remain downtown are looking at properties with larger patios or building rooftop decks. They look forward to the lock and leave lifestyle again in future months, but want to enhance their current space with a home office and an area to get outside on those lovely Colorado days.

Moving May Be Your Best Option

If you’re clamoring for extra space to accommodate your changing needs, making a move may be your best bet, especially while you can take advantage of today’s low mortgage rates. Low rates are making homes more affordable than they have been in years. According to Black Knight:

“Buying power for those shopping for a home is up 10% year over year, with home buyers able to afford nearly $32,000 more home than they could have 1 year ago while keeping their monthly payment the same.”

It’s a great time to get more home for your money, just when you need the extra space.

Bottom Line 

People are moving for a variety of different reasons today, and for many people, their needs have changed throughout the year. If you’ve been trying to decide if now is the time to buy a new home, contact a Kentwood broker to discuss your options!

Colorado Real Estate News

Transformation and Resilience: U.S. Real Estate Markets Thriving Despite Pandemic

Click here to read the article by Bristol Global

Jason Exley, the Director of Relocation at Kentwood Real Estate, discusses the current state of the real estate market during the COVID-19 pandemic. Check out the article on Bristol Global to learn more about how real estate is thriving and the resilience of many major markets in the last several months.

Jason discusses how real estate continually adapted, and what the future of conducting business may look like in this new virtual landscape.

Colorado Real Estate News

Lower Downtown Denver’s McGregor Square Project Retains High Buyer Interest

Check out the article on PR Newswire

Click here to read about the McGregor Square Project

McGregor Square is located right next to Coors Field in LoDo. It spans one fully city block, and includes a social plaza, a dining hall, and curated retail. This residential tower is filled with 103 residences ranging from 450 to 6,000 square feet. McGregor Square is on track to be completed in the Spring of 2021. Today, McGregor Square is 60% sold!

“Residences have amazing balconies and terraces, restaurants have generous outdoor seating and the plaza provides an active 30,000 square-foot outdoor space for residents to safely enjoy gathering,” says Kentwood Real Estate Broker Associate Dee Chirafisi.

McGregor Square is represented by our Broker Associates Dee Chirafisi, Kevin Garrett and Matt McNeill.

Colorado Real Estate News

CEO Reflections

By Kentwood CEO and President Gretchen Rosenberg

Top 5 Reasons to Leave Your Shoes at the Door

We all have pre-conceived notions of what our Colorado homes and real estate should be like.

For many people in Colorado that might be a view or a fireplace. For some it’s a gourmet chef’s kitchen and a soaking tub. Nearly everyone these days wants an area they can use as a workspace or for quiet time. The lists can be long or modest, but the best advice my first real estate broker gave me was to leave my pre-conceived notions at the door and be prepared to give a little. Here are 5 lessons from our Kentwood Real Estate brokers who have much hard-won wisdom to impart.

  1. It’s nearly impossible to get everything on your “must have” list. Create a list of A level amenities, B level amenities and C level amenities. Know in your mind that the A list should be very short, and the B’s and C’s will be nice to have, but could end up being crossed off. This applies to commercial real estate as well.
  2. Be open to suggestions from your broker. Real estate brokers are sometimes accused of pressuring buyers into looking at properties they don’t want to see. A great broker (like all Kentwood brokers) will listen intently, with a problem-solving frame of mind. They’ll also have input borne of wisdom. Let them provide suggestions for additional areas of town, insight into why some amenities might not be Colorado typical, or how a shift in price could get you closer to fulfilling all of the A’s and B’s on your list.
  3. Avoid a carpet allowance. (I was going to say “like the plague” but I’m writing this during the current pandemic, so like coronavirus.) Sellers – a carpet allowance doesn’t work anymore. It hasn’t in years. Buyers are watching HGTV and want their new house to “look just like that.” They generally don’t want to have to do any work, any updating or spend additional money. Why would they part with cash when they can finance at 3%?
  4. Know the photos make it look different. Properties are photographed in their best light, with a wide-angle lens and perfectly set for photos. The rooms always appear larger than they are. 3D Virtual tours and virtual (live) open houses are a better way to assess the space, and can be a good stand-in if you can’t be there or want to check some places off your list. The very best way to know if “it’s the one” is to visit the property. You’ll use more of your senses than just seeing photos when you’re actually there. You’ll smell (pets or candles?) You’ll see (what the room sizes really feel like when you’re standing in them.) You’ll hear (birds chirping or train tracks?) You’ll feel (those amazing soft close cabinets or a roll in the floor from settling.)
  5. National news is general, real estate is locale specific. Our Kentwood Commercial brokers have been asked a lot lately about their predictions for how depressed the commercial real estate market will be next year. Our Denver Rental team is asked about rent collections and whether property management is taking a hit. Our residential brokers in both Metro Denver and Northern Colorado are offered opinions on what’s going to happen with home values. It’s all correct, and it’s all wrong. Home values are going up rapidly in certain price points and neighborhoods, while other sellers are having to contend with lack of traffic and price reductions. Warehouses and light industrial real estate are booming, retail is struggling. Most of our property management clients are having no issues collecting rent, but that could also change as the COVID-19 months progress. This is the reason to seek an informed and expert broker. It’s a tough time to try to go it alone.

Leaving your shoes at the door is a metaphor for avoiding pre-conceived notions and being okay with asking for help. Kentwood Real Estate brokers are best-in-class and will help you find your next home, sell your current home, evaluate your commercial portfolio or lease a property. We’re here to help.

Colorado Real Estate News

Kentwood Real Estate Broker Goes Beyond Realtor-client Relationship as the Ultimate Embodiment that ‘We are All in this Together’

Realtor® Pat Wall gifted her clients socially-distant family porch-portrait sessions to capture a nostalgic moment in history for Denver-area families

The COVID-19 pandemic has changed the dynamic of every home and every family across the world, and behind every front door is the story of how individuals are facing the challenges of today. So, Denver-area Realtor® Pat Wall of Kentwood Cherry Creek, a real estate agent with over 40 years in the profession, captured this moment in history for clients with whom she has built relationships with over the decades. 

Pat Wall hosted complimentary family porch-portrait sessions, hiring Denver photographer Emily Spetosky. The stories behind these ‘Porch Photos’ captured include:

  • Photo of parents and their young children having a fun time bouncing on a trampoline with rolls of toilet paper in the air. Wall represented this family in the purchase of their home.
  • Photo of twins that just graduated high school, but couldn’t have a formal ceremony. Wall has known the twins since they were 18 months old, having helped the family find homes in different stages of their lives.
  • Photo of three grown children staying at their parent’s home together for the first time in years, one of whom usually lives in Europe. You can see them sitting, laughing and bonding together. Wall has known the family since they moved to Denver in 1990, having helped them to buy their first home in the Denver area.
  • Photo of parents with a one-year-old baby that said this is the first time in months they got to get dressed up. Wall sold them a home that backs up to a park and lake which is perfect for a child during this time when social distance calls for families to stay home. 

These stories represent an important period in history. The nostalgia that Pat Wall is gifting to these families goes beyond a Realtor-client relationship – it’s the embodiment of ‘we are in this together.’

“Seeing these precious photos reminds me of all of the times we have spent together,” said Pat Wall. “I have known them as teenagers and now they have teenagers! I have seen all of their life events – births, deaths, weddings, graduations and all of their homes. These homes are central to their lives and so it was fitting that they be photographed in them while quarantining. The families enjoyed the experience.”

Pat Wall is a broker associate with Kentwood Real Estate. With over 40 years as an agent, she was designated a Realtor® Emeritus in 2018 by the National Association of Realtors®, an exceedingly rare honor. For more information, visit Kentwood.com. The photographer, Emily Spetosky, started taking Porch Photos in April. For more information on Spetosky, visit EmilyJanPhoto.com.

About Kentwood Real Estate

At Kentwood Real Estate 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. Our brokers are the highest producing, most knowledgeable, caring, and experienced brokers in the country who offer a quality customer service experience. The exclusive affiliate of Berkshire Hathaway’s HomeServices of America in Colorado, Kentwood Real Estate produces more sales volume per agent than 99 percent of all real estate companies in the U.S. The company is comprised of Kentwood Real Estate – DTC, Kentwood Real Estate – Cherry Creek, Kentwood Real Estate – City Properties, Kentwood Real Estate – Northern Properties in Fort Collins, Kentwood Commercial Real Estate, Denver Rental, and Prosperity Home Mortgage. For more information, visit Kentwood Real Estate online at www.kentwood.com.

Colorado Real Estate News

How To Manage Multiple Competitive Home Offers

If you’re selling your home in a hot real estate market like Denver or Colorado’s Front Range, it’s likely that you’re going to receive multiple offers. While it may seem like a bidding war would be any seller’s dream, that’s not always the case. The highest bid doesn’t always mean it’s the best situation for the seller, and there are careful strategies to consider when managing multiple competitive home offers.

When your home is at the center of a bidding war, it’s vital to have support from an experienced real estate agent who can help you navigate the situation, minimize the stress and negotiate terms that work best for your unique circumstances. While there are many factors that go into choosing the best offer, here are three important things to consider in determining which is the best offer to choose:  

1. The highest offer isn’t always the best offer.

It may be exciting to get a high-priced offer on your home, but whether or not the offer is a ‘good’ one comes down to more than just the price tag. Buyers can technically offer any amount of money that they want, and when multiple offers are coming in, buyers may become competitive and make an offer that will be a struggle for them to honor. Additionally, if the bidding war drives the offers up too far over the amount that the home is actually worth, the appraisal will come in at an amount that is less than the buyer offered, so they won’t get the funding and you’re back at square one.

2. Consider the contingencies.

The fewer contingencies in the offer, the better. If you have a great offer without contingencies, then that’s the ideal situation. Buyers may want to include a number of stipulations in their offer that can make the deal harder to complete, such as requiring that the home appraises for a certain amount, or has to pass an inspection, or that they must sell their home or get approved for a loan first. Your real estate agent should always do their due diligence to find out what contingencies the buyer needs, and negotiate on your behalf in the buyer’s letter to ensure you are protected in the event that the contingency doesn’t go through.

3. Closing time.

Sometimes buyers want to move in quickly, and sometimes they want to wait for a few months. If you can afford to wait, then it may be worth it to get the higher offer. However, if you need to move quickly, then the time to close should be a significant consideration in choosing your offer. If you want the most money possible and you think your home is worth the price, take the highest offer that makes sense to you. However, remember that sometimes it can be better to take a lower offer that gives you more of what you want, such as a quick closing, no contingencies or whatever else suits your goals.

Ultimately, there’s a big gap between getting your home sold and getting it closed, so it’s important to have an agent by your side that can ensure the offer is legitimate and the home appraises and closes quickly.

As a seller, having a real estate agent who knows how to handle multiple competitive offers on a home is imperative, as it can be easy to mismanage a bidding war. Your agent should help you review the offers critically one by one, and point out the terms that will matter most given the circumstances. Bottom line, don’t go through this process on your own. Having an experienced agent on your side who has expert knowledge on how to navigate these red-hot real estate markets will ensure you get the best deal on your home, and experience as little stress as possible throughout the transaction.

Colorado Real Estate News

Real Estate Will Lead the Economic Recovery

With Colorado and more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work and the financial landscape of the country begins to turn around, many experts also agree that real estate has the potential to lead the way in the recovery process.

According to Ivy Zelman of Zelman & Associates:

 “Housing will fare better than expected during this severe downturn.”

In addition, CNBC notes:

“Mortgage demand from home buyers shows unexpectedly strong and quick recovery…The quick recovery has surprised most forecasters.” 

Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy of the National Association of Home Builders (NAHB) says:

“Overall, the data lend evidence to the NAHB forecast that housing will be a leading sector in an eventual economic recovery.”

Real Estate Will Lead the Economic Recovery | MyKCM

One of the big reasons why housing has the potential to be such a driving force is the significant impact it has on the local economy. This impact is particularly strong when a newly constructed home is built and sold. According to a recent study by the National Association of Realtors (NAR), the average new home sale has a total economic impact of $88,416. As outlined in the graphic below, this is a combination of income generated from real estate industries, expenditures, and new home construction.With so many unknowns today, especially in the wake of a worldwide pandemic, one known factor is the bright spark the housing market can play in local and national recovery. Buying and selling a home goes well beyond personal growth and satisfaction – it supports our economy as a whole.

Bottom Line

Looking to buy or sell a home? Visit www.Kentwood.com

According to experts, the economy will begin to recover in the second half of this year. With real estate as a driver, that recovery may start sooner than we think.