Colorado Real Estate News

Why 4th Quarter is a Great Season for Real Estate

Written by Kentwood Real Estate President and CEO Gretchen Rosenberg

The seasons are changing and it’s time to finish raking leaves; time to make sure you enjoy the great Colorado Outdoors while it’s still semi-summer and time to consider making a move.

Before stepping into management, I spent 22 years in real estate sales. It never failed that September through November were among my best months every year.

Odds of Selling

As a homeowner considering putting your house on the market or up for lease, your “odds of selling” are among the highest at this moment. It’s not typical to see a jump in inventory during the final quarter of the year and home buyers are left to sift through what little inventory there is. Anything new on the market is usually hotly contested. By choosing to get your house on the market soon, you know the buyer pool is at the highest it’s been in years.

Buying Power

Mortgage rates remain historically, breathtakingly low. The current odds of selling your home in Metro Denver rests at 73.4%. The ratio of buyers to sellers is out of balance in the Colorado real estate market. Those are some great odds! The pool of buyers has maximum affordability at current prices because of low mortgage rates.

In the Northern Colorado market, affordability is greater, with more to choose from in mid-tier price ranges. With similar inventory issues in the communities surrounding Fort Collins, buyers are left struggling to win the day among competitive bids. Having an experienced real estate broker in your corner can help you wade through a complex and sometimes frustrating process.

Craving Space 

Buyers are craving space with another COVID winter in our future. Many people are hoping that a move to a larger property will afford them the ability to weather the storm, literally. If you are thinking of listing your home for sale, consider your location’s appeal and price carefully. The odds of selling are high, but buyers are looking for updated and move-in-ready in most cases.

It’s the season for selling! Contact any Kentwood Real Estate broker for more information on listing or buying residential or commercial property in Metro Denver, the foothills, up the I-25 corridor, and areas surrounding Fort Collins in Northern Colorado. We’re here to provide you the information you need to make an informed decision. Tis the season!

Colorado Real Estate News

CEO Reflections

Written by Kentwood Real Estate President and CEO Gretchen Rosenberg

Rooted in Luxury

Top 4 Questions to ask your Luxury Broker

1. Experience Level

It takes a well-honed skill set to manage the purchase or sale of a luxury property. Whether that’s a significant residence or a Class A Building. Marketing, negotiations, and the unique needs of luxury clientele require an aesthetic sensibility that comes from experience and strong negotiating skills.

2. Company Backing / Resources

Does the brand your broker has chosen to affiliate with resonate with a luxury clientele? At Kentwood Real Estate we like to reinforce that we’re a luxury brand for all. Everyone, in every price range and area, receives luxury treatment. Our brand is recognized as consequential because we take good care of our clients and we’re affiliated with some of the top national and international luxury networks, like Luxury Portfolio International, Who’s Who in Luxury Real Estate, and Berkshire Hathaway’s HomeServices of America.

3. Discretion

If you’re a luxury client, unless you’re a celebrity wanting to leverage that for a sale, you likely want discretion. Brokers at companies like Kentwood understand that. We’ve worked with sports agents, attorneys representing high profile clientele, we’ve worked under NDA. We know how to get the job done and how to make it about YOU, the client, and not about our notoriety. Not every broker out there wants to be on Million Dollar Listing or touting their chops publicly. Many remain focused on doing the best job they can for their clients. Our brokers are rewarded for their discretion by the referrals of their clients, not by 15 minutes of fame.

4. Photography & Staging

High-end photography, professional staging, geo-marketing, video, drone photography. These are all tools in the tool kit of an experienced luxury broker. They have the “rolodex” of names of the best practitioners in their chosen affiliated fields to get visually stunning results. It’s not acceptable to take photos on a camera phone at any price point, but especially not in the luxury markets.

Coco Chanel famously said, “Luxury must be comfortable, otherwise it is not luxury.” Luxury is in the eye of the beholder and Kentwood brokers excel at treating all clientele as if they are high-end. 

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

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

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

Rooted In… Local Roots, Global Reach

Written by Kentwood CEO and President Gretchen Rosenberg

Our Global Presence

Kentwood Real Estate is a member of Who’s Who in Luxury Real Estate, a compendium of the finest residential real estate firms from around the world, as well as Luxury Portfolio International® and Leading Real Estate Companies of the World®, the largest global networks of premier locally branded companies. 

These esteemed networks cover over 70 countries and include more than 130,000 real estate professionals, selling more international and luxury properties than the large brands. The network companies are dominated by many of the world’s most powerful top-tier independent brokerages and we take networking seriously.

The exclusive affiliate of Berkshire Hathaway’s HomeServices of America in Colorado, Kentwood produces more sales volume per agent than 99 percent of all real estate companies in the nation and is connected to brokerages around the globe.

Combined with Local Roots

Founded in Denver nearly 40 years ago as a premier local brand, you’ll get the inside scoop from your broker for everything from community information, market trends to commute times in actual time. Plus, the regular weather report because we’re obsessed with the weather in Colorado.

Kentwood Real Estate is invested in our communities, and our brokers support numerous civic and community endeavors. Every year, Kentwood and its brokers demonstrate their commitment to the community by volunteering and supporting local charities and events. Kentwood brokers participate in hundreds of worthy causes, including Denver Urban Gardens, the Wash Park Home Tour, Metro Cares, Toys for Tots, Mercy Housing, HomeAid Colorado, Be the Gift, Pie in the Sky, LoDo Cares, CRUSH Walls, and the Denver Film Festival.  

You’ll receive first-class service no matter your price range or the style of property you’re interested in buying or selling, from brokers who are connected to the global markets while staying rooted in the communities they serve. From Castle Rock to Fort Collins and Evergreen to Elizabeth. What could be a better combination?

Colorado Real Estate News

CEO Reflections

Written by Kentwood CEO and President Gretchen Rosenberg

Rooted In… Performance 

Kentwood Real Estate is an elite team of brokers whose exceptional service, local expertise, and deep community roots create a market advantage for clients. Kentwood is also the exclusive Colorado affiliate of Berkshire Hathaway’s HomeServices of America. In 2016, the organizations aligned given our shared core values of trust, integrity, stability, and longevity. We believe in doing business the right way. Knowledgably and ethically. 

Our brokers’ combination of professionalism, local knowledge and experience has led to sales production records for many years. Our officially reported numbers are now combined with all of the HomeServices brokerages, but when compared to RISMedia Real Estate Magazine’s 2017 Power Broker Survey, Kentwood ranked #1 in Colorado and #4 Nationally for the highest volume sold per associate in 2016. The rankings methodology may have changed, but the results have not. 

Shining Bright 

Our Kentwood brokers and staff across all business lines – from residential to commercial to leasing and property management – continue to shine and serve our clients with the utmost diligence, even during these unusual times. Just look at these impressive statistics for 2020 so far: 

  • #1 Metro Denver market share during the COVID restrictions, 4/1/20 – 6/1/20 
  • #1 Average sales price for all of ReColorado MLS 
  • #1 Average sales price in the City and County of Denver 
  • #1 In productive agents in the City and County of Denver 
  • #1 In productive agents for all of ReColorado MLS 

Source: *BrokerMetrics 1/1/20-8/25/20 

Equal Opportunity 

With impressive numbers like these, you might think we’re exclusively a luxury brokerage, but that’s not the case. We’ve found the best way to balance our luxury roots and focus with first-class service to everyone, regardless of price range or area. We fundamentally believe that everyone deserves luxury service, attention to detail, and professionalism. 

Kentwood Real Estate brokers continue to deliver, representing buyers and sellers from Monument to Fort Collins and from Evergreen to Franktown. No matter where you live or want to live, where your business is located or where you own rental property, along the Colorado northern Front Range we’re here to help. 

Search for your next Colorado home at www.Kentwood.com!