Kentwood Real Estate Brokers Larry Hotz and Jill Schafer Featured on CNBC Broadcasts on Denver’s Housing Market
Posted by Douglas E. Lierle — May 28, 2015
DENVER, CO – Kentwood Real Estate Broker Associates Larry Hotz and Jill Schafer were recently featured on CNBC broadcasts featuring Denver’s housing market. Both segments were aired on Thursday, May 21, 2015, with Hotz appearing on a broadcast titled Power House and Schafer on a second broadcast headlined Denver’s Hot Housing Market Sparks Bidding Wars.
Hotz is a Broker at Kentwood Real Estate DTC, while Schafer works from the Kentwood Real Estate Cherry Creek office.
On the Power House segment, Hotz featured several homes on the market in Highlands Ranch and Lone Tree at prices ranging from the $500’s to more than $1 million. The Power House residence located in Lone Tree was a beautiful Tuscan design with a full finished basement, a turret entry, five bedrooms, and five baths at a listed price of $1,054,000.
Hotz noted how the Denver housing market has become very competitive, with homes priced under $500,000 receiving multiple offers and selling after just one weekend on the market. The segment also included Denver area housing statistics, with the average price now at $283,000 and just a little over 3,700 inventory homes available. Average days on the market is currently at 62 with listings down 15 percent.
Schafer’s segment on Denver’s bidding wars noted that prices are up significantly, with days on the market down 30 percent. Schafer said that “prices are going crazy” and homes are getting multiple offers. She recently had a buyer lose out on eight different homes because of the multiple offers, but he finally contracted on a residence after out-bidding three other buyers. Schafer said that one move-in ready home had 18 offers during its first weekend on the market.
Host Diane Olick noted that land prices in the Denver area are at an all-time high, so builders are dealing with very tight profit margins. According to the broadcast, the only available land is near Denver International Airport. Another factor sparking bidding wars was more employment created by Apple and Google opening facilities in the Denver area.
Hotz is recognized annually by the Denver Metro Association of Realtors as one of the region’s top brokers. He holds several special designations recognizing the successful completion of stringent continuing education courses in real estate. Hotz has been selling real estate since 1978 and has taught continuing education classes as a Senior Faculty Member of the Colorado Association of Realtors and the Colorado Real Estate Commission.
Schafer is a multi-year winner of the Denver Metro Association of Realtors Excellence Award a multi-time winner of 5280 Magazine’s Five Star Real Estate Professional award. She serves on DMAR’s Trends Committee and is a Certified Negotiation Expert and a Certified Relocation Specialist. Schafer is regarded as a highly skilled, knowledgeable real estate expert who is often interviewed by the local media about the Denver housing market.
About Kentwood Real Estate
Kentwood Real Estate is dedicated to building on its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced brokers in the country who offer the highest quality customer service experience. Kentwood Real Estate is an innovator known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position. The company’s brokers each averaged more than $12 million in sales volume annually, which is ranked number one nationwide by the National Association of Realtors and REAL Trends.
Kentwood Real Estate is comprised of Kentwood Real Estate DTC, Kentwood Real Estate Cherry Creek, and Kentwood City Properties in downtown Denver. For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com.