Colorado Real Estate News

Homeaid Share the Warmth Clothing Drive

HomeAid Share the Warmth Clothing Drive 2021

Give the gift of warmth this year by donating to HomeAid Colorado‘s Share the Warmth 2021 clothing drive.

As a proud partner of the local nonprofit, Kentwood Real Estate is hosting donation drives across Denver. At all four Kentwood offices, you can drop off socks, hats, gloves, and other winter items through October 29. Please call our office closest to you to schedule a donation drop off.

Kentwood Real Estate Cherry Creek
215 St. Paul Street #200
Denver, CO 80206 | (303) 331-1400

Kentwood Real Estate City Properties
1660 17th Street #100
Denver, CO 80202 | (303) 820-2489

Kentwood Real Estate DTC
4949 South Niagara Street #400
Denver, CO 80237 | (303) 773-3399

Kentwood Real Estate Northern Properties
2510 E Harmony Road #202
Fort Collins, CO 80528 | (970) 300-1985

If you are unable to stop by a Kentwood office throughout October, you can donate through HomeAid’s Amazon Wish List.

Your donation could help thousands of homeless men, women, and children facing a winter without permanent housing in Colorado.

To learn more about HomeAid Colorado, click here.

Kentwood Real Estate is a supporter of HomeAid Colorado, an organization devoted to building new lives for Colorado’s homeless through housing and community outreach. HomeAid works with local home builders, trade partners, real estate entities to supply essentials and build housing for people in need of a roof over their heads.

Colorado Real Estate News

Best Disc Golf Courses in CO

When you think of Colorado, outdoor activities immediately come to mind. With over 300 days of sunshine and beautiful mountain weather, how could you not go outside? Besides hiking and water activities, Denver is known for being one of the best areas for disc golf in the U.S.A. These mountain courses have tons of elevation and are more on the technical side. However, you won’t find a course like this anywhere else, so we recommend exploring these places if you’re an invested disc golf player or simply looking for a new outdoor adventure. 

Here are our top five best disc golf courses.

Beaver Ranch Disc Golf Course in Conifer

As the top-rated course in Colorado, you can enjoy two courses and 62 baskets with various shots from meadow drives to crafty tree work. You can purchase a day pass for $12 or an annual pass for $100. No reservation is needed. 

Address: 11369 S. Foxton Road, Conifer.

Cross Creek Disc Golf Course in Gypsum

This course is deep in the mountains with heavily wooded terrain. You will have to navigate your way through the trees to get to the end, where you will find more open meadow shots. Day passes are $15, and no reservations are needed. 

Address: 13119 Gypsum Creek Road, Gypsum.

Ghost Town Disc Golf in Central City

This town isn’t just known for its casinos and prime rib. Central City offers a private disc golf course featuring 20 holes. The holes may be short in distance, but the advanced layout provides a challenging course. It is $10 for a day pass and $5 for children and walkers—Call 303-582-3083 to reserve your spot. 

Address: 190 Russell Gulch Road, Central City.

Double Cabin Disc Golf Course in Telluride

Telluride is already known as a top place to visit in Colorado, and its disc golf course gives you another reason to check it out! This 18-hole course is located on the ski run and has you throwing uphill and downhill, along with a scenic view of the San Juan Mountains. This course is free for all players, and no reservation is needed.

Address: 470 Mountain Village Blvd., Mountain Village.

Wondervu Disc Golf Course in Golden

On the mountaintop of Coal Creek Canyon, you will find this 19-hole private course. Wondervu is also known for its annual tournament called Disc-n-Dabs, where teams can register for a cannabis-friendly disc golf competition from Sept. 3rd – 6th. Otherwise, you can purchase a day pass for $10 and make a reservation at the link above. 

Address: 136 Camp Eden Road, Golden.

Each of these mountain courses will provide an enjoyable experience for your next disc golf excursion. If you’re a seasoned player, we recommend downloading the app UDisc, which helps navigate courses and keep the score even without cell service. 

Colorado Real Estate News

Colorado Day – We Love Our State!

Colorado Day

In Japan, “forest bathing” is the concept of immersing one’s soul in nature. Coloradans have embraced this notion, taking advantage of everything Colorado has to offer. Whether you’re taking in the sights from your porch, hiking 14ers, or enjoying happy hour at one of our local breweries – there is something for everyone in our state to leave an indelible mark on your soul and make you feel at home. 

Colorado Day is on August 1st and marks the 145th anniversary of the founding of our great state. We’re proud to be celebrating this milestone with you! As a Colorado-founded company, Kentwood has been serving our extraordinary community for 40 years. 

Below are a few facts and tidbits about our beautiful home in honor of Coloradans everywhere. These are our ideas on what makes Colorado the finest state in the nation. Many locals may have different thoughts and suggestions. It can be hard to narrow down the list in a state like Colorado. 

Brief History of Colorado

The United States acquired the Colorado Territory in 1803 through the Louisiana Purchase and the Treaty of Guadalupe Hidalgo. In 1861, outgoing President James Buchanan established the Colorado Territory with the same borders the state currently has. 

On August 1st, 1876, Ulysses S Grant signed a proclamation admitting what was then known as ‘Colorado’ to become the 38th state in America’s Union, officially becoming the Centennial State in honor of the nation’s 100th anniversary.

Interesting Facts about Colorado

  • Colorado has multiple nicknames, including the Centennial State, the Lead State, the Buffalo Plains State, and the Switzerland of America. 
  • Colorado is home to the largest hot springs pool in the world. 
  • On Mt. Evans is the highest paved highway in the country. 
  • On average, Colorado receives 300 days of sunshine a year, which is more than San Diego or Miami. 
  • Colorado has 75% of the land with an elevation over 10,000 feet in the country. 
  • Colorado has 56 mountains over 14,000 feet. 
  • Colfax Avenue is the longest street in America.
  • The Royal Gorge Bridge is the highest suspension bridge in the US. 
  • The largest indoor rodeo takes place every year in Denver at The National Western Stockshow. 
  • The Great Sand Dunes National Park has the highest sand dune in the country. 
  • Colorado is the only place ever to turn down the Olympics. 

Literary Luminaries 

Colorado has a fascinating literary history and has been home to some incredible writers. Hunter S. Thompson lived at his Owl Farm compound in Woody Creek, outside of Aspen, where he wrote some of his best works. Phillip K. Dick, who wrote dozens of classic science fiction novels, was born in Colorado, and is buried here. Robert Heinlein, author of Starship Troopers, called Colorado Springs home. Jon Krakauer, who wrote the mountaineering classic Into Thin Air, lives in Boulder.

Also, horror master Stephen King is a big fan of our state and has set many of his books here, including The Shining. You can even stay in the hotel where King’s classic takes place if you dare. If you want to learn more about Colorado writers, past and present, stop by the Tattered Cover Bookstore, one of the best independent bookstores in the country.  

Top Quintessentially Colorado Things to Do 

Hot Springs

Colorado has over 200 natural thermal pools that are waiting for your visit! There are countless options, from remote to convenience, and each one offers its own set of benefits. For those looking for an easy access hot spring with therapeutic properties on the side, we recommend Strawberry Hot Springs in Steamboat – this is a perfect mountain town opportunity if you’re interested in soaking without too much hassle!

Local Breweries 

In the past decade, the popularity of the craft beer movement has helped boost the demand for local breweries. Today, breweries are popping up all over the state, with at least 150 throughout Colorado.

New Belgium Brewing Company, based out of Fort Collins, Colorado, has been at the forefront of some of the most innovative changes to the industry in recent years. Jeff Lebesch and Kim Jordan founded New Belgium back in 1991 and have watched their small brewery grow into a national powerhouse.

Live Music

The live music scene in Colorado features variety and depth. You’ll find some of the best jazz in the country at Denver’s prestigious Dazzle Club, Boulder’s Jazz on Pearl Street, or Sunday evening’s Jazz in City Park. You’ll also find your favorite bands and artists at Red Rocks Amphitheatre, perhaps the most gorgeous place in the nation to see an outdoor concert.

Originally built in 1906 by John Brisben Walker and his business partner Charles Lippincott, Red Rocks Amphitheater covers 9 acres with natural red sandstone rocks providing a stunning backdrop for the performances. Red Rocks has been a go-to destination for many artists, including Bob Dylan, David Bowie, Neil Young, U2, and the Grateful Dead.

Ghost Towns

The history of ghost towns in Colorado began with gold seekers who discovered gold in 1859, bringing people worldwide to Colorado. As the population grew from 584 settlers at that time, they found themselves faced with difficult conditions and harsh terrain. To this day, you can find a reminder of these struggles all over our beautiful state: Ghost Towns!

One such town is St. Elmo, founded by prospectors looking for silver during the 1880s mining boom near Nathrop (on Highway 50 between Buena Vista and Salida). From its humble beginnings as an ore-processing camp to being abandoned due to flooding issues, visit today for a glimpse into early pioneer life or just stop off on your next road trip.

Hiking

Colorado is home to some of the most breathtaking national parks in North America. Rocky Mountain National Park in Estes Park has endless hikes for all skill levels. There are also numerous hiking trails near Boulder, perfect for families with kids, such as Chautauqua Park. Garden of the Gods is a great place to explore if you are looking for a beautiful and relaxing mountain stroll. Near Durango lies one of Colorado’s most scenic routes – the Continental Divide Trail, which stretches from Mexico to Canada!

One of the most well-known attractions in Colorado is the 14ers – mountains with summits that are above 14,000 feet high. There are fifty-eight total fourteeners in Colorado, and below you’ll find just a few to get started on your adventure!

Mount Elbert – Located in central Colorado and was once thought to be the tallest mountain in America. Standing at 14,440 feet high, it’s no wonder Mount Elbert is one of the most famous mountains for hikers and climbers to explore.

Mount Massive – Three other peaks surround this mountain over 14,000 feet high: Mount Princeton (14,197), Mount Shavano (14,227), and Mt. Antero (14,197).

Skiing 

Colorado has arguably the best skiing in the world, offering residents and visitors the chance to ski or snowboard in diverse terrain, from challenging steeps to wide-open bowls. There are 26 resorts total, providing Colorado skiing with its unique charm.

For example, Vail Ski Resort has more than 100 runs spanning four mountain peaks, while Winter Park Resort has six mountain peaks that are all expertly groomed daily by their team of snow-makers. Breckenridge Ski Resort is a popular destination for skiers and snowboarders, with an average annual snowfall of 200 inches per year. The resort features 92 runs that are perfect for all levels – beginner to expert!

Kayaking

Colorado is a fantastic place for kayakers to get their paddle wet. The Arkansas River offers both fast water and slow-paced paddling trips, which means it’s up to you what kind of experience you want! Whether looking for remote wilderness or picturesque scenery, the Arkansas River has something in store. It’s an adventure not to be missed by any avid kayaker—so grab your gear and head out on this beautiful river today!

Golf

Colorado offers a premier golfing experience with dozens of low-land courses in the Denver metro area to high altitude courses throughout the mountains. The Rockies are the perfect backdrop for an afternoon on the tee boxes. The cool mountain air is refreshing and invigorating and will allow you to enjoy your game even more. Some of our favorite courses in Colorado include Denver Country Club, The Broadmoor, The Ridge at Castle Pines North, Four Mile Ranch Golf Club, and Grand Elk Golf Course.  

Mountain Biking

Mountain biking is a sport that’s been increasing in popularity over the years with new technologies and features like suspension or disc brakes on mountain bike tires. Colorado has some of the best trails for this activity, offering natural settings and breathtaking views! There are two main categories of trails you can go down: downhill (faster speeds) or cross country (less steep slopes). But if you’re looking to go fast while going on obstacles-filled courses, then downhill might be your choice!”

Kentwood is proud to be a Colorado company, and we want you to have fun exploring the state as much as we do. Get out and enjoy your day; after all, the mountains aren’t going anywhere anytime soon! 

Colorado Real Estate News

Top 5 Lakes and Reservoirs in Colorado

With the record-breaking heat in Colorado, locals are struggling to stay cool. Luckily, there are lakes and reservoirs scattered throughout the state that are open to the public. Whether you plan to jump in or just lounge on the beach, these swimmable watering holes are perfect for any summer day. So, pack up your swimsuits, sunscreen and snacks and head to our favorite mountain beach escapes.

Here are our top five swimmable lakes and reservoirs in Colorado.

Boulder Reservoir

This water source is a classic site for residents in Boulder to get away and unwind. Located about 10 minutes from CU Boulder’s campus, Boulder Reservoir has a white sand beach and several roped-off areas to swim in. There is access to boating, paddle boarding, fishing and other activities for those looking for more adventure. 

Grand Lake 

The town of Grand Lake is home to Colorado’s largest and deepest natural lake. Despite being a bit of a drive, this quaint and charming town makes for a fantastic weekend getaway. Its proximity to Rocky Mountain National Park also allows for outdoor activities such as hiking, biking and camping.

Horsetooth Reservoir

What is known to be an outdoor paradise by many locals, Horsetooth Reservoir, can be found minutes away from Fort Collins. With over 3,900 acres of surface water, there is plenty of room for activities such as swimming, scuba diving, fishing, boating and much more. 

Chatfield State Park Reservoir 

For all the folks in Denver, this reservoir is the shortest drive away. Besides offering a sandy beach and swimming area, Chatfield is one of the best places to fish in the greater Denver metro area. You can expect to catch rainbow trout, bass, catfish and many other species.

Blue Mesa Reservoir

Located between Montrose and Gunnison, Blue Mesa is the largest body of water in Colorado, covering over 9,100 acres of surface water. This lounge-worthy beach is excellent for boating, water skiing, windsurfing and fishing. While the shoreline is rocky, you can find nearby swimming areas at the Bay of Chickens, Dry Creek and Old Highway 50 beach.

Summers in Colorado are some of the best the West has to offer. Each of the lakes and reservoirs listed above provides various activities, ensuring no one in the family is bored. So, why wait? Make sure to check out these refreshing mountain lakes while the sun is shining and adventure beckons!  

Colorado Real Estate News

The Top 3 Indicators for Commercial Real Estate Recovery

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

Our Kentwood Commercial team of brokers is often asked what they see on the horizon for commercial real estate (CRE) and whether the sector across-the-board suffered pandemic woes.

In actuality, CRE is many sectors, not one. Commercial office sales and leasing are quite different from industrial and warehouse, retail and mixed-use are nothing like multifamily. If we unpack the variety of sectors in Colorado’s real estate markets, we can use the past 14-months to plan for the future.

Leading Indicators

Leading indicators are what drive behavior change and business results. The leading indicators of the Work from Home adaptations we’ve made over the past year are impacting both the housing and commercial office markets. Many businesses are planning to retain a hybrid model but are committed to being back in their offices by third quarter 2021 in some form. This will benefit office, but the sector still lags in other areas of CRE. Companies are looking for ways to consolidate and shrink their office footprint, and in metro Denver we have hundreds of thousands of square feet on the sublease market. Dr. Michael Sklarz wrote about the intersection of rising housing prices with office lease rates due to the WFH trend in a recent blog post.

Company Culture

CRE appears to outsiders to be a clinical, analytics driven area of real estate. In many ways, that’s true. However, human behavior and consumer behavior have a large influence over many CRE sectors. Retail and hospitality has been impacted in an outsized way by the pandemic and the business owners are re-imagining how their businesses will look going forward, and how their real estate needs will be changing as a result. Corporations are reconsidering the open floor plan “hoteling” model that came into fashion over the last decade. Some managers like that model even more as they move to a hybrid work from home format, others like it less as they wrestle with how to keep their employees safe in an office environment.

Warehouses Dominate

The industrial and warehouse sectors are thriving. Internet shopping is driving a need for fulfillment and storage which is driving demand for warehouses. This is a trend that picked up steam over the past year and should remain strong as we move into 2022 and beyond.

Commercial real estate is thriving in Colorado for many owners and landlords. Others are still struggling – multifamily owners are impacted by eviction moratoriums, strip malls with family-owned restaurants and shops hope tenants reinvigorate as society opens back up, large office buildings aren’t clearing vacancy rates at the planned for velocity. The best way to stay informed about CRE is to speak with brokers who know all aspects of the business. Kentwood Commercial brokers are seasoned professionals who stand ready to help.

Colorado Real Estate News

Top Nine Spring Activities in Colorado

Spring has sprung, Colorado! Are you struggling to come up with fun, family-friendly activities to keep you and the kids entertained? We’ve got you covered with this list of the nine best spring break activities in Colorado. So, read away and get ready for great ways to play!

1. Visit a National Park 

If you’re looking to experience the beauty of nature, then Colorado’s National Parks have got you covered. From colorful canyons to majestic mountains, these parks are sure to provide the perfect escape for you and your family to soak up some sun and breathe in some fresh air. 

2. Take a Food Tour

Are you craving new cuisine? Why not check out a food tour in Colorado Springs? With Rocky Mountain Food Tours, you can visit five of Colorado Springs’ top restaurants in just a few hours. That way, you can take a bite out of Colorado Springs without breaking the bank. In addition to offering contact-free check-in, groups are limited to eight people and masks are required. Read more about their safety protocols for a delicious and safe experience. 

3. Stop By the Cheyenne Mountain Zoo

Located in Colorado Springs at 6,800 feet above sea level is the “highest zoo in America.” With beautiful views and over 200 species of animals, the Cheyenne Mountain Zoo is sure to please the animal lover in your family! Start the day with a stroll through the reptile exhibit and at lunch be sure to feed the hungry giraffes. Advance e-tickets are required as well as masks. Read more about their COVID-19 restrictions to best plan your visit.

4. Check Out the Royal Gorge

Want to add a little suspense to your spring fun? Then steer your car towards the Royal Gorge Bridge and Park. This gorgeous gorge is home to the highest suspension bridge in America and the park offers tons of rides too. A trip to the Royal Gorge is guaranteed to give you and your family fond memories that will last a lifetime. Every person ages 10 and up must wear a mask but beaming smiles will still be easily noticeable!

5. Drive to the Top Of Pikes Peak

Nothing embodies exploration and enjoyment like a good old-fashioned road trip. Standing tall at 14,115 feet, Pikes Peak offers the perfect opportunity to get in the car and relish each other’s company and some fantastic views. Just be sure to bring a coat because it is bound to be chilly once you reach the summit.  


6. Go Horseback Riding Through Garden of the Gods

For a unique adventure, trot down to Garden of the Gods and hop on horseback. With breathtaking sandstone formations and a ton of hiking trails to choose from, Garden of the Gods is a must-see for any Coloradoan. However, if you want to experience this classic landmark in a whole new way, try taking a trail riding tour and elevate your perspective. Groups are limited to eight people and you must arrive 30 minutes before the scheduled ride.

7. Learn Something New at the Denver Museum of Nature and Science

Even us adults don’t have to stop learning. Located in downtown Denver, the Denver Museum of Nature and Science offers the perfect mix of education and enjoyment. Uncover the mysteries of Stonehenge and venture into the prehistoric era to watch Allosaurus and Stegosaurus do battle with an 80-foot-long Diplodocus towering overhead! Discover gems about ancient history and Colorado’s recent history with exhibits like Tom’s Baby, an eight-pound nugget of crystallized gold unearthed in Breckenridge in 1887. Masks are required, indoor capacity limitations are in place, likely resulting in queue times, and popular galleries require timed entry tickets.

8. Stay a Night at The Stanley Hotel

Staying home all of spring is a frightening thought. So why not pack your bags and take a weekend getaway to the famous Stanley Hotel in Estes Park? Stay for the night and the frights. Meet some friendly ghosts and entertain the kids with the variety of activities offered at our other blog here [link to blog].

9. Browse the Denver Art Museum 

If you’re looking for some sights that will astound and delight you, then venture on down to the Denver Art Museum. Take a stroll through the nineteenth century’s art and then explore the fashionable Véronique and Gregory Peck exhibit. Afterward, you can grab a snack in Denver’s beautiful River North Art District (RiNo) and maybe even do some shopping. In addition to masks being required, be sure to check out their Plan Your Visit page to make sure you have a fulfilling and safe experience.

As the weather warms and adventure beckons, don’t spend your time wondering what to do. Go out and try a few of the activities on this list so you can make this spring the best one yet!

Colorado Real Estate News

DMAR Awards

Congratulations to our Kentwood Denver Metro Association of Realtors Honorees

At Kentwood Real Estate we thrive on excelling at our profession, at serving our clients and community and being at the top of our game. One of our local Realtor Associations, the Denver Metro Association, honors top producers each year at their annual Excellence Awards.

This year we had 108, over half of our Denver brokers, qualify in one of the award categories.

We celebrate everyone on this list for their outstanding 2020 production and encourage you to reach out to any Kentwood broker for unparalleled service. Find all Kentwood brokers here.

Diamond | $40 Million+, 100+ Sides:

Individuals

Dee Chirafisi

Amanda Fein

Gina Lorenzen

Partnership

Kevin Garrett & Matthew McNeill

Team

Denver’s Top Team: Wendy Glazer, Sana Wood, Jacci Geiger, Mary Jones

Neir Team: Stacy Neir, Alex Neir, Laura Bohan Fuller

Titanium | $30-$3.9 Million, 85-99 Sides:

Individuals

Jim Rhye

Dotson Skaggs

Josh Steck

Partnership

Sarah Clark & Kayla Schmitz

Pam Coakley & Elizabeth Sacerdoti

Doug Hutchins & Leslie Monaco

Team

Hotz Group: Loren (Larry) Hotz, Elizabeth Hotz, Meredith Hotz, Andrea Holeso

Kruse/Nussbaum Team: Steven Kruse, Sandra Kruse, Staci Burns, Jim Nussbaum

theMOVEgroup: Allison Smookler, Gregory Yoshida, Zach Gilbert, Ron Smookler

Platinum | $20-$29.9 Million, 70-84 Sides:

Individuals

Karen Brinckerhoff

Keith Combs

Heather Ehret-Faircloth

Linda Hantman

Ann Kerr

Edie Marks

Blake O’Shaughnessy

Annzo Phelps

Dawn Raymond

Bob Serotta

Partnership

Patty Anton & Greg Card

Tom Gross & Britt Armstrong

Brian Harris & Jamie Harris

Bob Kelly & Sean Kelly

Alan Larson & Todd Landgrave

Ann Lenane & Angela Beldy

Roy Lopez & Jonathan Lopez

Greg Margheim & Kelly Sophinos

Team

Dwell Colorado: Martha Potter-Goldstein, Amy Hulsey, Brian Rosen

Lee/Turner: Bob Lee, Andy Lee, Bill Turner

Gold | $15-$19.9 Million, 50-69 Sides:

Individuals

Andrea Bell

Jim Buckley

Darrell Hamilton

Brigette Modglin

Kim Norton

Christy Owen

Jill Schafer

Jim Traynor

Julie Winger

__________

Jill Schafer

Jim Traynor

Julie Winger

Partnership

Christopher Ansay & Jeff Perry

Berenice Bejarano & Brian Noel

Jenna Fulk & Elizabeth VanCamp

Gayle Glucksman & Tiffany Glucksman Appel

Sean Larkin & Debbie Larkin

Sheila Schlifkin & Mitchell Rothman

Silver | $10-$14.9 Million, 35-49 Sides:

Individuals

Susan Axelrad-Giery

Michel Brossmer

Allison Craig

Susan DiLiberti

John Fitzpatrick

Chuck Gargotto

Sara Glaze

Stock Jonekos

Robyn Landry

Aimee Twarogowski

__________

Stephanie Lepard

Libby Levinson

Parker Loveless

Nancy Nielsen

Carolyn O’Donnell

Diane Sorensen

Luisa Staerkel

Jaryd Takushi

Sandy Weigand

Partnership

Tom Cryer & Dee Cryer

Thomas Dutzer & Rosanne Dutzer

Andrew Maguire & Justin Moser

Ed McWilliams & Ann McWilliams

Bronze | $4-$9.9 Million, 20-34 Sides:

Individuals

Laura Amann

Christy Andrisen

Kris Berton

Soley Maria 

Brandon Brennick

Keri Duffy

Bryan Facendini

Jinnohn Gilmore

Faun Hauptman

John Hayden

Megan Heagle

Brent Jones

Kris Kerr

Rob Kishbaugh

__________

Wendy Lee

Karl Lueders

Joyce Mahn

Elise Marks

Lori Pace

Tricia Potucek

Joyce Romanello

Scott Scholbe

J. Garland Thurman

Steve Travers

Pat Wall

Nancy Walters

Anastasia Williamson

Steve Wood

Partnership

Tom Colleran & Whitney Harris

Julie Egan & Sallie Grewe

Jon Gordon & Peggy Gordon

Bobbi Lou Miller & Jennifer Dechtman

Bryan Uhl & Kris Uhl

Bill Verdon & Andrew Gonzales

Colorado Real Estate News

Colorado Housing Market Scorches Before Summer Heat Sets In

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

Metro Denver ended March 2021 with just 1,654 active listings on the market and an average sale price of $663,749. That’s for a metropolitan area of approximately 3 million residents.

The Fort Collins market was down in new listings 16.4% YOY from Feb 2020 to Feb 2021 (therefore pre-COVID shut down.) Median days on market in Denver is … 4! Those are the days listing brokers need to sift through 35+ offers and create spreadsheets for sellers to evaluate.

When the supply of houses for sale is as low as it is today, buyers are left struggling to find homes to purchase. Competition among purchasers is fierce and some bidding wars are legendary. Sometimes buyers only have 15 minutes in a house and then need to decide whether to purchase the biggest investment of their lifetimes.

Thus, home prices are rising rapidly, and sellers are negotiating hard to meet their ideal terms. Buyers are faced with impossible choices like waiving home inspections and putting more money down to guarantee a sale even if an appraisal comes in lower than the purchase price. 

Where Are the Sellers?

Homebuilders can’t build fast enough and they’re experiencing severe constraints on their supply chains, which increases prices and slows construction. Many resale homeowners are fearful, and that fear is motivating them to stay put. Last year it was fear of COVID. This year it’s the fear of not finding a suitable replacement home, the fear of entering a bidding war.

We must figure out ways to encourage homeowners to become sellers or many buyers will come off the field. The potential of rising rates in future months will certainly chill demand somewhat. What if there was a way to increase homeowners’ desire to sell, therefore improving supply? Would a government tax credit help? Could a waiver of capital gains tax exempting those with more than $250,000/$500,000 in proceeds help spur the supply side? Now is the time for our industry and our policy-makers to get creative in solving for the massive supply/demand imbalance.

All along the Front Range of Colorado, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with reevaluation have prompted many people to think differently about where they live. Our housing supply is not keeping up with the extraordinary demand. It’s a tremendously advantageous time to be a seller if you’re game.

Colorado Real Estate News

What to do With 40 Years – Build a Brand

Written by Kentwood Real Estate President and CEO, Gretchen Rosenberg

I have exciting news! Kentwood Real Estate is 40 this week!

Henry Ford said, “Coming together is the beginning. Keeping together is progress. Working together is success.” We’ve completed 40 successful years of changing lives.

In 1981 five brokers formed the beginnings of our brand, The Kentwood Company, which was renamed Kentwood Real Estate in 2008.

The incorporation papers were signed by Roger Campbell this week in 1981. Roger told me, “We wanted a name that was easy to say, easy to spell, memorable, and upscale so we settled on Kentwood.”

Colorado Real Estate History

Other notable names in Colorado real estate who contributed to our success as founders, owners, and leaders are Jim Nussbaum, John Fitzpatrick, Jerry Weigand, Bill Moore and Peter Niederman, Julie Hummel, Dee Chirafisi, Jim Theye, and Chris Vuletich. 

Our original office remains the DTC flagship. In 1998 we added Cherry Creek, in 1999, City Properties, and in 2018 we expanded to Northern Colorado. We added Denver Rental in 2011. Kentwood Commercial and Prosperity Home Mortgage were both launched in 2017.

Our previous owners sold the company to HomeServices of America in 2016, beginning the adventure of our Berkshire Hathaway affiliation.

To our brokers, our staff, and the management team – thank you for your ideas, collaboration, and professionalism. YOU make this company admired, productive and competitive.

To our clients, we say thank you for 40 years of working with the best brokers in the business, for your business, and your support. A focus on clients fostered our success over these 40 years. That laser focus on client experience and market knowledge keeps traditional brokerage relevant into the 21st Century.

Our brokers, loan officers, and support staff make our company special. An organization, no matter how well designed, is only as good as the people who live and work in it. We celebrate all who have contributed to 40 years at the pinnacle of real estate.

We have so much to be proud of at Kentwood Real Estate, Kentwood Commercial, Denver Rental, and Prosperity Home Mortgage, and much more to look forward to. 

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.

Cheers to 40 years!

Colorado Real Estate News

Top 3 Reasons We’re Watching Inflation

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

The Colorado housing markets remain white-hot and even some commercial sectors are in a positive rebound. We’re watching the economic indicators closely to gauge what the short- and long-term trajectory might be.

The Federal Reserve monitors inflation and says their target benchmark for altering policy is a 2% inflation rate. 

The Federal Open Market Committee (FOMC) judges that inflation of 2 percent over the longer run, as measured by the annual change in the price index for personal consumption expenditures, is most consistent with the Federal Reserve’s mandate for maximum employment and price stability. 

3 Metrics to Watch

Long Term Rates – “Signs of faster economic growth, an improving job market, and increased vaccine distribution are pushing (mortgage) rates higher,” said Joel Kan, the Mortgage Bankers Association (MBA) Associate Vice President of Economic and Industry Forecasting. In turn, this is slowing the refinance markets according to the Mortgage News Daily Blog.

Consumer Price Index – This is showing signs of heating up according to a recent article on CNBC. It’s to be expected, and if you’re looking to purchase a house or investment property you’re still able to lock in historically low rates. They just feel higher compared to last month.

Demand-Pull Indicators – “When an increase in the supply of money and credit stimulates overall demand for goods and services in an economy to increase more rapidly than the economy’s production capacity. This increases demand and leads to price rises,” explains Investopedia. Our government has been faced with stimulating the economy with a combination of both increasing the supply of money and stimulating credit to get the economy through the pandemic-induced recession. Now, they’re watching the hangover and gauging the best way to keep our economy moving without ramping up inflation too rapidly.

Good News for Real Estate

These are interesting indicators to watch, but what do they mean practically for everyday people?

Mortgage rates are still extremely low and should remain so throughout 2021 (great for buyers.) Housing price inflation is increasing due to high demand (great for homeowners and sellers, not so great for buyers.) One thing I’ve learned throughout my 2 ½ decades working in the real estate industry is that people will always need houses, shops and restaurants, and offices. Things like the Great Recession or the COVID Pandemic may slap us with a pattern interrupt, but we always get back to an even keel and we always have people who need to transact.

If you’re one of those people, contact a Kentwood Real Estate Residential or Commercial broker. We represent clients from Colorado Springs to Denver to Boulder and Fort Collins. Our brokers are experts in their field and will help educate you on these important indicators and advise you on the next steps in your life journey!