Mar 20, 2018
Can existing home sales slide at the same time they advance? Lewes, DE real estate watchers who have heard similar conflicting accounts on successive news reports could be forgiven for deciding somebody is confused. They might be right about that, but in fact, both reports are technically correct.
The contradictory accounts may have originated from a press conference held a while ago by the National Association of Realtor®s’ Lawrence Yun, the group’s chief economist. At first, it sounded as if U.S. sales—particularly existing home sales—was a straightforward bad news story. “Contract signings were down,” was the main takeaway. A video of the press conference didn’t dispel the impression, showing journalists, clicking away on their notepads. And in fact, the total represented an existing home sales figure representing a falloff from the same month a year earlier.
But then came the next news: recorded prices were up! Existing home sales figures showed sales prices had risen a full 5.8%, compared with the previous year.
Lewes, DE buyers and sellers who’d managed to catch only brief snippets of the news might well have come away with either of the two contradictory impressions. Particularly for those who plan to sell their Lewes, DE home this spring, the true state of affairs could be relevant. If sales are sluggish, it could lead them to consider a lower asking price—or even to hang back from the market temporarily. On the other hand, if buyers are demonstrating they’re willing to put more cash on the table, it could be time to strike now while the iron is hot!
Which is it?
It’s both true that the number of homes being put up for sale is (at least for now) less than overwhelming, and also true that sales prices are on the rise. As with any time demand is greater than supply, prospects who are determined to buy will be willing to make higher offers—even as the total number of sales is stuck in neutral. Viewed from a global perspective, it’s a good news/bad news story that makes perfect sense.
Even for buyers encountering higher asking prices, there’s a saving grace—it’s the fact that by historical standards, Lewes, DE home loan rates are still yielding truly affordable monthly payment numbers. That creates what we see in this spring’s market: opportunities that reward both Lewes, DE buyers and sellers.
Call me to see what I mean! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.
Mar 20, 2018
Amazon—or, more precisely, the Amazon phenomenon—is bound to have an increasing impact on Fenwick Island, DE residential neighborhood preferences. The connection hasn’t yet been widely acknowledged, but it’s hard to deny the logic behind it.
The connection I’m pointing to isn’t the web behemoth’s rumored expansion into real estate. That was quietly floated last summer—and just as quickly abandoned. Without ceremony, Amazon had debuted a “Hire a Realtor” page under a “Coming soon” blurb—but took it down the next day. The Seattle retailer has been mum about the reason for the misfire—but it could well be its use without permission of the NAR’s “Realtor®” designation (it’s a registered trademark).
Nor does a prediction of an increasing “Amazon effect” on neighborhood preferences have anything to do with its Echo smart speaker or Alexa personal assistant software. Asking for real estate help from Alexa simply hasn’t caught on, possibly because her response to other requests lacks the kind of human connection most folks demand when seeking professional help on important matters. A couple of weeks ago, Echo-Alexa suffered a black eye when some of its speakers started giggling for no apparent reason. The result of hearing someone suddenly laughing from another room was described as “spooky,” “unnerving,” and “frightening.” Not what you’re looking for in a real estate agent!
The “Amazon effect” that may ultimately affect Fenwick Island, DE residential neighborhood preferences is the same one that has made its Amazon Prime membership so popular: free delivery. Last week’s announcement that Toys’R’Us will shutter its 735 stores is evidence that even the New York Times had to acknowledge: retail shopping “in the Age of Amazon” is undergoing a sea change. Further proof comes with the daily increase in the number of online merchants who find it necessary to compete by offering free shipping.
House hunters may assume that size, style, and price are the most important factors in choosing their next home, but neighborhood qualities weigh in, too—in fact, they often precede the other factors. Ultimately, it’s predictable that any neighborhood’s proximity to desirable shopping outlets—something that used to be a definite selling point—may all but disappear from consideration.
As the web wins over more and more shop-from-home adherents, that factor in the location location location equation may go the way of the horse and buggy. What won’t disappear is the value of being able to count on an experienced (and human) real estate professional when buying or selling Fenwick Island, DE homes. Call me anytime! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
Mar 20, 2018
This Tuesday, Dewey Beach, DE calendars mark the first day of spring: the vernal equinox. The onset of astronomical spring doesn’t quite coincide with Dewey Beach, DE’s real estate spring selling season, which most agree should be considered to start 12 days later, at the start of April.
Just about everything you need to know about why we expect Dewey Beach, DE’s spring selling season to be as active (some say “frantic”) as ever can be gleaned by a glance at the calendar. After the long winter, it explains why so many homebuyers seem to come out of the woodwork. Here are six of the calendar-based factors that help make spring the peak selling season:
1. Families with children are captives of the school year calendar. They want to get their sale or purchase out of the way so that moving won’t disrupt next semester’s activities.
2. Nicer weather moves people to get out to investigate. That may sound like a trivial reason, but when you add in the unarguable appeal of springtime gardens, the atmospherics alone would be enough to quicken sales.
3. Tax refund checks are headed for 83% of filers. With average amounts in the thousands of dollars, it’s no wonder they give buyers a feeling of well-being. This year, 2018 federal tax reductions have also improved many a paycheck’s bottom line.
4. Springtime provides a natural rebound from the typical Dewey Beach, DE winter real estate doldrums.
5. Longer daylight hours provide more time for showings—and in real estate parlance, “brighter” is synonymous with “more appealing.”
6. This year especially, there’s a ‘tick-tock’ factor: economy-minded homebuyers are incented to lock in Dewey Beach, DE properties before prices andinterest rates rise.
There are always reasonable arguments for Dewey Beach, DE buyers and sellers to choose some other season, but over the long haul, the single point that’s hardest to dispute is in the numbers. Nearly 40% of U.S. home sales occur between April and July.
If you’ve been thinking that springtime might be the right time to create your own Dewey Beach, DE selling season, it’s not too late to make it happen! Give me a call to discuss how quickly we can turn that idea into action. Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.