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

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

CEO Reflections

Rooted in Value

Accolades vs. Action

We have many accolades to tout at Kentwood Real Estate, but we’re laser-focused on the customer service actions needed to meet both our clients’ expectations and their goals. Without a deep concentration on the excellence of service, we would never get to the point of raving fans, testimonials, and accolades.

Consumers today have a plethora of models, systems, portals, and personalities to choose from as they embark on their real estate journey. Our team of commercial and residential brokers are at the top of their game because they recognize that we’re in a service business. Real estate “sales” is customer service and expert problem-solving at its core.

Service as Value

I used to joke with clients when I was still in sales that I did a lot more than the average broker. Unlike agents who used the “Three P’s” as a marketing plan, (Put out a sign, Put it in the MLS and Pray,) I offered my clients a list of over 40 behind the scenes activities that they may not have realized their real estate broker should be accomplishing for them.

Does your broker conduct an ownership and encumbrance and tax search on your property or the property you’re making an offer on? Research the condition of the title and zoning? Make sure the HOA covenants and declarations are in your hands for review? 

Does your broker complete a well-considered market analysis for the commercial property or home you’re selling and buying? (And explain how their knowledge and expertise informs that report?) How does your broker expose your property? Qualify prospects? Protect you from shady inquiries or unhealthy/unsafe showings?

Does your broker consistently seek feedback and provide it to you in a timely and valuable way? Negotiate on your behalf? Represent your best interests while balancing the needs of both buyer and seller to get to the end game desired? 

Have you received an estimated net proceeds for a variety of prices? Been guided through the maze of legal documents and referred to an attorney if needed? Do you know if a complete appraisal package has been prepared and provided to the appraiser? Have you been guided through the inspection process and informed on how to best tackle these secondary negotiations?

But Wait! There’s More!

The list of what your Kentwood Real Estate broker can and will provide you in terms of service and support during your transaction continues. It’s so robust that you should make an appointment with a Kentwood broker for more detail soon.

Now is a great time to be a seller, and many buyers are looking for property to purchase. Reach out and learn about why we consistently earn awards and accolades at Kentwood. It’s because we make it about YOU!

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

4 Signs It’s Time to Sell Your Home

Not only is moving a daunting process, but making the choice to sell your home is a decision that requires lots of consideration. If you have been on the fence about whether to sell your home, here are four telltale signs that now might be the time to act.

You’re Bursting At The Seams

One of the main reasons for selling your home is to accommodate a growing family. That house that once fit two newlyweds comfortably feels smaller and smaller by the day. Your family has started to grow and now includes a dog, toddler, and you’re expecting a new baby sometime soon. Your kids will eventually need spaces of their own – bedrooms, work areas, and play areas. The point is, you are quickly out-growing your home and it’s time to start searching for something that is better suited to your needs.

Sell Your Home | Not Enough Space

Your Home No Longer Suits Your Lifestyle

A lifestyle change can mean a wide variety of things depending on the individual. Your kids have grown up and moved out, and now you find yourself with an empty nest that is much too big for what you need or can manage. Maybe you have a new job with a longer commute and want to cut back on your drive time. Anything from retirement or divorce, to an in-law moving in can rearrange the lifestyle you have become accustom to. A happy home is one that syncs up with the current phase of life you are in, and it’s important to make sure that you have the right fit.

Empty Nester | Sell Your Home

Remodeling Won’t Offer Return on Your Investment

Every now and then it’s nice to give your home a face-lift to help re-energize your house and make it feel new again. Small updates to the kitchen or the bathroom might be all you need to decide that you want to stay put for a few more years. But making significant remodels to your home might not always be the best decision. Before taking on any large home improvement projects, understand your neighborhood and know the highest price point in the area. If your home is already similar in style and condition to the other homes in your surrounding area, remodeling might be a bad investment.

Sell Your Home | Remodel

Equity Is On Your Side

After years of paying your mortgage and keeping your home in quality condition, you’ve probably built up quite a bit of equity. After the housing market crash, many people found that their equity had all but evaporated. That is no longer the current climate, and many homeowners are cashing out on positive equity. Selling your home and moving into something less expensive can put some of that extra equity to work for you in other ways. Do some research, have your house reappraised, and see if it’s the right time for you to sell your home.

Equity | Sell Your Home

 

Colorado Real Estate News

Six Reasons Why a Real Estate Deal Can Fall Apart

Failed Real Estate DealWhy do some real estate deals fall through? A survey conducted by the National Association of Realtors found that one in every five home deals falls apart. Following are six primary reasons that the dream of home ownership collapses at the last minute.

A change in credit score

Credit scores can fluctuate between loan approval and closing. Just one missed bill payment could lower your FICO score and increase your mortgage payment, or even make you ineligible for the mortgage.

To prevent this scenario from happening, buyers who are nearing the closing date should be aware of dinging their credit, which can happen when you open credit lines, run up balances, or take out a loan on a new car. Closings can also be hurt by a diminishing debt-to-credit ratio, so make sure to carry on with business very much as usual.

Getting Spooked by the inspection

When a prospective buyer or buyers find their dream home, but the inspector finds an unexpected problem at the last minute, the buyers can be spooked and the deal dissolves, even if the sellers promise to fix the problem.

While the situation suggests that the sellers were hiding an issue from the buyers, usually if you find a deficiency in the home, the home inspection report becomes a negotiable tool for the buyer. So if a surprise pops up during the home inspection, don’t run until you’ve brought the issue up with the sellers. They could have a logical explanation and you could get a concession.

Running out of money

A mortgage is only one part of the funds you’ll need to buy a home. Saving for your down payment and closing costs is not enough. You will need to have a cushion for unexpected repairs and other expenses that come with a home purchase.

To prevent this, talk to your lender or Realtor about the financial reserves you’ll need to get in the house before making an offer.

Small problems blown out of proportion

Even relatively small flaws in a home can bring negotiations to a grinding halt if buyers or sellers get emotional or take things personally. A deal can fall through for something as small as a single cracked tile. Other deals can collapse because of a small misunderstanding such as what’s included with the house…appliances, window coverings, storage sheds, etc., can completely ruin a deal.

While it’s fine to bring up problems, try to do your best to stay calm and avoid being accusatory during communications with the sellers to avoid offense. And even if the seller does not grant all your requests, try to keep the big picture in mind. Does that chipped molding really matter that much?

Cold feet

When buyers see the home in its best condition, they are on an excitement high. Then, over the next couple of weeks, the home just becomes a memory. Buyers are hit with the details of closing and moving costs. As everything sinks in, they’re handed a horrible inspection report listing every little defect in the house. That’s the moment that most deals fall apart.

Go into house hunting knowing there’s a honeymoon period, followed by a whole lot of stress, paperwork, and check writing that will drain your savings. But in the end, you find out that it is all worth it. The buyer’s Realtor should tell them that it is normal for an emotional low to follow the high at the time of contract. The Realtor should let them know that getting cold feet is very normal when buying a home.