Colorado Real Estate News

Three Reasons to Sell Your Home Now!

photo depicting a mother holding up her toddler daughter in a kitchen

If you are a real estate fanatic like we are, you know that 2020 has been a record-breaking year for the market and it likely won’t be slowing down in 2021. Zillow expects home values to increase 10.3 percent from November 2020 to November 2021 despite the ongoing pandemic challenges. The sales growth continues to be affected by similar factors such as strong demographic trends and a shift in buyer preference ignited by the pandemic. If you considered selling in 2020, this year proves to be just as promising. Still not convinced? Here are three reasons why now is the perfect time to sell your home: 

Interest Rates Are Expected To Stay Low
Get excited because the 2020 below-average interest rates are here to stay! Last year, interest rates were below 4 percent and while they may slightly increase in 2021, they are predicted to remain low compared to historical averages. Let’s put these rates into perspective. According to Freddie Mac, December 10th had a record low rate of 2.71 percent for a 30-year, fixed-rate mortgage. Compared to a year like 2018, where the annual average was 4.54 percent, these record-breaking rates are incredibly beneficial to all homebuyers. Buyers can secure a long-term mortgage at an insanely low rate, and sellers can capitalize on high prices. It’s a win-win situation!

There Are More Buyers Than Sellers
As demand continues to rise, inventory remains low. But this isn’t necessarily a negative situation for individuals looking to sell their homes. Buyers are eager and anxious to purchase a house quickly, especially when the real estate market provides such ideal financial solutions for potential buyers. As mentioned earlier, the low interest rates provide affordable mortgages, ultimately resulting in an inadequate supply of homes to satisfy consumer demand. With such high competition to close a deal, buyers are aggressive with their purchase offers. So why not benefit from these multiple offers and rising prices?

TIP: if you are looking to sell your home, consider investing in house repairs to amp up the curb appeal and receive a higher asking price.

Seasonality of Homebuyers.
Did you know there are seasonal trends for selling and buying a home? In previous years, the spring months are historically the best time to list a home. However, with the unpredictable and uncertain living conditions that we are experiencing, the usually defined “peak of interest” in the market has become blurred. With that being said, the most desirable time to list your home is NOW, so do your homework and prepare to capitalize on the eager homebuyers.

How Kentwood Can Help
Have we convinced you? While there is no better time to sell your home than now, we understand the process can be daunting and often complex. With our local expertise and exceptional service, Kentwood is here to guide you through a pleasurable selling experience! Reach out today!

Colorado Real Estate News

CEO Reflections – Are you in your Forever Home?

Written Gretchen Rosenberg, Kentwood Real Estate President and CEO

Are you in your forever home?

You may be in your first home or your move-up home, you may have been rooted in your home for many years, or you may be someone who moves a lot and loves the experience and excitement of finding that next just-right place. 2021 is predicted to be another year of record home sales and movement into and out of our homes. Are you planning to jump in?

Many people found their housing needs changed in 2020. They realized their current home didn’t mesh with their current lifestyle. If you’re working remotely, helping your children with online learning, exercising in your basement (me,) or simply spending more of your time in your own four walls, you may be realizing that your current place isn’t what you envisioned when you made the purchase. 

Perfect Timing

It’s a great time to reimagine where you’ll land next. Mortgage rates remain historically low and new construction is helping keep up with demand, even if resales have been slow to come on the market. We expect more homeowners to dip into the market this spring, but multiple bids in some segments will likely continue even with a rise in inventory.

According to CoreLogic’s Home Price Insights, national prices appreciated 7.3% year-over-year in 2020. The National Association of Realtors (NAR) also reported that inventory dropped 22% from 2019 to 2020.

This is a reflection of supply and demand at work. As inventory decreases and demand increases, prices are driven up.

If you own a home that isn’t JUST RIGHT and you’re thinking about selling, now may be the time. You’ve probably seen a good amount of equity accumulate in your home as prices have increased. Kentwood Real Estate brokers have a large number of buyers looking for their Colorado dream home. Let us help you sell and find that next perfect place to call home.

Bottom Line

If you think your current home no longer serves your lifestyle, then connect with a Kentwood broker to discuss local market conditions and determine if now is the best time for you to sell!

Colorado Real Estate News

CEO Reflections on 2020

Written by President and CEO of Kentwood Real Estate, Gretchen Rosenberg

Time to Pause and Reflect

2020.  A year that hit the pause button on many things in our lives and a year that gave us a reset we did not know we needed. For many people, it was one of the toughest years ever, but it’s also provided an opportunity to evaluate the things that are most important. 

Virtual Meetings and Open House Tours
  
It’s been a year of working from home, distance learning, social distancing, flattening the curve, masks, visiting loved ones through windows, quarantining, travel bans, lockdowns, riots, protests and curfews, grocery shopping online, curbside pickup, meetings on Teams, Zoom and Go to Meeting and virtual open houses.

We’ve had no concerts or church or big family gatherings, and found new ways of celebrating birthdays, weddings, holidays, and even funerals. I attended a concert, a wedding and a memorial on Zoom this year. We have suffered losses – loss of time, connection and some have lost loved ones. 2020 will be a year that goes down as a historically meaningful year, one that has changed our world.

Kicking off 2021
  
How do we end 2020 on a positive note and start 2021 with a new and fresh perspective?  At Kentwood Real Estate, Kentwood Commercial, Kentwood Relocation, Denver Rental, and Prosperity Home Mortgage we’re taking time to celebrate with those closest to us. It’s a testament to our teams’ resilience, creativity, and professionalism that we’re thriving in difficult times. Our clients have been loyal and dogged and clear-eyed on where they need to go to stay on the path of their life journey.

We’re planning to rest and reset both personally and professionally and begin 2021 with an attitude of greatness. Thank you all who have supported our team this year. Happiest of holidays to everyone and cheers to 2021!

Colorado Real Estate News

Purchasing A Second Home In Colorado

photo showcasing a home at dusk surrounded by birch trees.

Be honest. How nice does a vacation sound right about now? You can’t deny that after all of these months cooped up in our homes, a change of scenery sounds irresistible. Let’s swap those one-time plane tickets and fancy dinners for the fresh Colorado air and a reason for adventure. Maybe you are looking to purchase a second home for pure enjoyment? Possibly for some additional income? A worthwhile investment? Or it could even be all three, but all in all, there are some undeniable short term and long-term benefits of purchasing a second home in Colorado. 

A second home provides the perfect reason to escape. Whether it’s for personal leisure or family bonding, the memories you create are invaluable, and you can’t put a price tag on memories. Not only will you bond with your loved ones, but a sense of community will also form as you explore your new neighborhood. Creating a sense of belonging as you discover new restaurants and meet the local grocery store owner is the perfect way to become a local. However, since this is a second home, you may not be a permanent local. But do not fret! With such high tourism rates in mountain towns like Telluride and Vail, wannabe locals will be knocking at your door for a little staycation of their own. 

As the real estate market continues to skyrocket, this is the perfect time to consider purchasing a second home in Colorado. Let’s look at Telluride, for example. There was $125 million in sales in August alone, which shattered their December 2019 one-month sales record of $96.9 million. In fact, Telluride is on track to beat the all-time annual sales record of $760 million, which was set in 2007. Not only are mortgage rates low, but purchasing an additional home, particularly in a mountain town, turns your disposable income into financial safety. The National Ski Areas Association reported a record-breaking 24 million visits in the 2018-19 year, further proving a desire for the mountains. While purchasing an additional home is an investment, it has its benefits. For instance, a second home is considered a personal residence. This means when tax day comes around, you can deduct both property taxes and mortgage interests from your taxes. I am not a qualified tax professional, but that sure sounds enticing.

Acquiring another home is a big commitment and a purchase that would benefit from a professional’s advice. Finding a Realtor® whom you trust is crucial in the success of your second home. Our brokers at Kentwood will provide you with the expertise and insights into the Colorado real estate market to assure you that you made a rewarding investment. Feel free to contact our Kentwood professionals today and take your first step in creating priceless memories.

Colorado Real Estate News

Why Pricing Your House Right Is Essential

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.

According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.com, notes:

“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”

When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

How to Price Your Home

As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. You’re thinking, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are selling instead.

Even today, when the advantage tips toward sellers because there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running in the other direction if it isn’t priced just right.

Our Trusted Real Estate Professionals Will Help

It’s important to make sure your house is priced correctly by working in partnership with a trusted real estate professional. When you price it competitively, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price.

The key is making sure your house is priced to sell immediately. That way, it will be seen by the most buyers. More than one of them may be interested, and your house will be more likely to sell at a competitive price.

Bottom Line

If you’re thinking about listing your house this fall, connect with a Kentwood broker, to discuss how to price it right so you can maximize your exposure and your return. Find a broker at www.Kentwood.com

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

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

Top Tips For Buying A Luxury Home

Homes in Denver, CO are considered as “luxury” if they’re valued over $1M+. While luxury applies to value alone, homes in this bracket all have in common a highly competitive buyers-market despite varying in every aspect from square footage, lot size, and location To navigate an often complicated home buying or selling process in the luxury home market, you will need a broker with negotiation experience and a deep understanding of your neighborhood’s trends.

If you are in the market for a luxury home, there are key areas you need to pay attention to throughout the search process.

Know where to search:

Most real estate is easily accessible through the MLS or a simple online search, but when it comes to luxury properties, many of the homes remain unlisted in order to protect the seller’s privacy. Well-connected and luxury-focused brokers can tap into their professional networks to identify potential buyers or sellers rather than relying on inbound-only interest.

Know the neighborhood:

If you’re investing in a luxury property, you’re likely purchasing your dream home – no bargains or compromises. Understanding each neighborhood and their trends is arguably the most important aspect of living in your dream home as well as ensuring the longevity of your investment. While the home may be perfect, it’s especially important to be aware of future development or changes that might affect your lifestyle.

Know your priorities:

From amenities like bowling alleys and tennis courts to sprawling vistas and top-of-the-line finishes, knowing your priorities and what you deem as luxurious will be immensely helpful in finding the perfect estate. As is true with homes in any market, luxury homes may not have each and every feature you desire. It’s important to develop lists of must-have and desirable-but-not-necessary features, so your Kentwood broker can schedule tours of homes that fit your vision and reduce the time you spend searching. While the home might seem perfect, be sure it’s perfect for you and your family.

Pricing:

Pricing is the most important aspect to selling a luxury home. An experienced broker will solicit a consensus home value from their colleagues, luxury experts, and past and recent market data. While the seller might want to sell their home for more, it’s important to consider the broker’s value because they’re experts for a reason: They know how price homes for sales. If a seller decides to list their home too high, there is a very real risk of ultimately chasing the market meaning potential buyers will wait-out each drop in price to see how low you’ll end up going to sell.

If you’re in the market for a new luxury home, learn process of buying high-end real estate, study each neighborhood, know exactly what you need in a home, and sign the right broker. Kentwood Real Estate has represented the most discerning clientele in Colorado and our brokers are an elite team of Realtors whose exceptional service, local expertise and deep community roots create a market advantage for clients. If you’re ready to start your journey to buying your next luxury property, contact a Kentwood broker today!

Colorado Real Estate News

CEO Reflections

By Kentwood CEO and President Gretchen Rosenberg

Top 5 Reasons to work with a traditional broker versus an iBuyer

You may have heard a term that came on the real estate scene a few years ago, the iBuyer. You might even be considering using one to buy your home or looking at iBuyer listings without a Buyer Broker to represent you. Before you do, consider these top 5 reasons to stick with a traditional real estate agent.

iBuyer is a term coined to describe “internet” or “instant” real estate companies. They have a simple value proposition, make the transaction easier. That’s not a bad alternative for a certain percentage of the public and offers another resource to be carefully evaluated. However, iBuying is not a panacea for all real estate situations.

What You Need to Know

  1. Net Proceeds: As you evaluate, consider that convenience comes with a cost. These companies are not in a charitable business, they’re designed to make money. A traditional broker will help you prep your home for the highest return and act as an advisor on what consumers are looking for today. At Kentwood Real Estate, we have the Amplify program, which can even help you renovate and stage your home for sale and defer the cost until closing. If you sell your home to an iBuyer, your net proceeds will most certainly be less, and they’ll be marketing you ancillary services long into the future.
  2. Loss of Control: With a traditional agent acting as your advisor with a fiduciary duty to you, you can remain in the driver’s seat as you make decisions and progress through the transaction. Choosing a price, negotiating the inspection items, choosing a closing date. iBuyers will speed up the transaction and simplify many aspects, but they’ll give you a non-negotiable offer and then further deduct after they conduct their property inspection.
  3. Fees: A traditional broker’s fee covers extensive behind-the-scenes work, yet often consumers think our job is simply to put houses in the MLS and show property to buyers. Your agent should also advise you on home preparation for the highest return, best timing for hitting the market, how comparable homes are selling in terms of price and days on market, create a comprehensive marketing strategy, detail what a reasonable inspection list is, anticipate what issues might come up on title, potential easements and encroachments and how to discern who the best buyer is in terms of qualification. An iBuyer theoretically smooths out the transaction, taking on many of the steps an agent would be helping facilitate. They take much off the plate for sellers and they charge high fees for assuming that risk. iBuyer fees typically range between 7% and 14%, all in after inspection discounts.
  4. A Buyer’s Advantage: When you’re able to see everything in the Denver Metro, Boulder and Fort Collins MLS, you’ll be exposed to the entire market. With a Buyer’s Agent representing you, there’s more ability to negotiate the price, inspection items and confidently know you haven’t waded into any title or easement landmines. If you’re directly buying from an iBuyer company’s inventory, you don’t have an advocate helping you navigate the complex waters of a real estate transaction. They may have fixed up the house for sale, but how much time and quality were put into the work?
  5. We Hear Stories: Every week one of our brokers tells us a client had decided to use an iBuyer to purchase their home or made an offer on a property listed in an iBuyer inventory. Most of these stories end when the client decides to come back to their Kentwood Real Estate broker because they realized the fees were too high to make the convenience worth it. Even in the era of COVID. We’ve all found ways to show properties safely and keep our brokers and consumers healthy. Make sure your broker is following the COVID rules and protocols. Buyers have found that they aren’t exposed to the entire market when they’re searching on the iBuyer sites, and with such a lack of inventory these days, they want to be kept apprised of everything hitting the market in real-time.

The Final Takeaway

There is room for many models in the large market we call real estate. Some business models highlight price, speed and convenience while others focus on customer service and take their responsibility as fiduciaries to their clients seriously. Those relying on customer service and acting as fiduciaries also work hard to maximize net proceeds at the end of the transaction, making their fee a valuable investment. They also work hard to advise buyers when to negotiate and when they have to put their best foot forward.

You may like to shop at a discount store like Target and Walmart some days, while choosing Nordstrom or Nieman’s another. With housing or commercial real estate, consider your options carefully and feel free to reach out to a Kentwood Real Estate Broker for thoughts and advice. We’re here for our clients.

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.