Aug 16, 2017
If you are just about to commit to buying or selling a home in Delaware, the first important task before you comes with identifying the best Realtor® to assist your effort. That comes first because although you might begin by combing through the current Delaware listings or driving through the neighborhood to spot what’s going on, there is always a possibility that acting without delay will be important. If that happens to be the case, zeroing in on the best Delaware agent takes first priority.
How you ultimately select that best real estate agent for you involves a selection process that’s a lot like any business person's procedure—except that it’s easier to identify the candidates. You won’t have to post “help wanted” ads since the candidates (myself included) are all actively looking for you! We are the prominent Delaware brokers and agents whose names you see on the web and on our “FOR SALE” signs. They’re all over the place.
The true lion’s share of the work of identifying your best “hire” will come in the conversations you have with the leading candidates. Whether you call them up or drop in on them at their office (or run into them at an open house), it’s important to bear in mind that these conversations, whether casual or not, are actually employment interviews. You’re the boss; the agents are applicants—and the hiring decision is a very important one. During these interactions, if you can determine that the agent you’re speaking with is strong in these five qualities, you’ve found your agent:
Needless to say, when you are narrowing the field for who you want to become your own best Delaware agent, I hope you’ll call me for a chat! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.
Aug 16, 2017
Figuring out the perfect pricing for any Delaware home for sale would be easier if there were a way to confirm past instances that hit that mark precisely. But that can’t be done. It’s the nature of the beast: it’s simply not possible. Even if a comparable Delaware home’s asking price resulted in being sold immediately at that exact amount, it only could have been priced perfectly. We can’t know that it wasn’t priced too low.
Even if the pricing on some Delaware home was quickly met and even exceeded—IOW, it resulted in a bidding —that might be evidence that it had been originally priced too low. Even that isn’t certain because the supposed underpricing resulted in a sale that was higher than expected, which is a perfect result. So perhaps that was the perfect pricing. You see the ambiguity.
So if you can’t ever determine what constitutes perfection in pricing—even after the books are closed on a given sale—then there is no way to guarantee a number will result in the maximum outcome. That’s why the whole issue of pricing any Delaware home is forever going to be an art (with as much science thrown in as possible). That being the case, getting the “science” part right is pretty important.
When it comes to pricing Delaware homes, it stands to reason that the mortgage lending industry would have put maximum effort into determining the most predictive residential real estate values: in other words, any Delaware home’s most realistic pricing. A week ago, one of the nation’s largest mortgage lenders offered their advice to homeowners. They acknowledged that while “we’re on an upward swing” in property values in general, it’s still important to get “a very accurate estimate of home value” to attract multiple buyers and avoid surprises during the sale process. Their three steps to discovering that:
Online search. Using the massive amount of data is a starting point for establishing a baseline.
Knowing the Market. It’s vital to measure your own house against those that are most similar to yours and on the market now. Visits to nearby open houses will offer the best opportunities to observe how similar homes are priced and marketed.
Calling in the pros. Ultimately, the do-it-yourself idea for home pricing seems to yield to what is available when the assistance of a real estate professional can be called upon—at least in the opinion of the other pros: the lenders. Rallying the in-depth data that current and historical comparable sales figures provide is persuasively the superior path, from their point of view.
Perfection in pricing might not be attainable—but if success in selling Delaware homes is a good stand-in, one way to achieve the desired end result is to seek out a professional with a proven track record like mine. Call me! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
Aug 16, 2017
Delaware mortgage rates have been so low for such a long time that it would be surprising if area buyers didn’t begin to take them for granted. It’s only human nature. Addressing would-be home buyers who, though qualified, remain on the sidelines, government-sponsored Freddie Mac headlined the question, “If Housing Is So Affordable, Why Doesn’t It Feel That Way?”
The article appeared in Freddie Mac’s Insight publication which noted that right now housing isn’t just affordable—it’s “near record” affordable! HUD’s Housing Affordability Index has been rising for over 35 years, interrupted only briefly by the housing crisis of the mid-2000s. It hasn’t quite sustained the all-time affordability peak but is holding steady well within hailing distance of that 2012 record.
Delaware mortgage rates have cooperated nicely, continuing to go with the national herd. For 30-year fixed-rate mortgages, U.S. rates averaged 3.90%—down even further from the previous week’s 3.93%. Of course, the 15-year and adjustable rate offerings were even lower.
With that kind of good news, why do the media report “affordability issues” (Mortgage Daily News) and even an “affordability crisis” (PBS)? The answers dwell in both perception and in some underlying realities.
There’s definitely reality in the widespread phenomenon of a shortage of housing supply. Delaware listings may show a number of properties being offered, but the national number of homes up for sale remains “very tight.” The echoes from 2009, when new housing starts hit rock bottom, are still having an effect. In that year, housing starts barely equaled a third of the previous averages. Even though current construction levels are nearly back to normal, they’ve yet to make up for that shortfall.
Less real is the public perception of how much cash is needed for a down payment. Delaware mortgage rates may be tantalizingly low, but when potential local applicants “mistakenly believe they must have a 20% down payment to obtain a mortgage,” the result is a number of otherwise-qualified buyers who don’t know that more than half of today’s borrowers make smaller down payments.
Not mentioned in the Insight article is another psychological factor that could explain two things at once. In The New York Times’ “Politics” section, a commentary sought to explain why the Federal Reserve wasn’t acting to boost interest rates. According to the author, the cause lay with inflation rates, which remain low—“and that’s a problem” for Fed rate-makers. The reason higher inflation would be a good thing (despite common sense) is that it makes consumers feel good when their paychecks go up. “A little inflation can brighten the economic mood…people enjoy the illusion.”
The upshot here may be that even though today’s extraordinarily low Delaware mortgage rates create actual affordability, some well-qualified customers may feel safer staying on the sidelines until the economy starts generating go-go economy headlines. It’s an ironic reality that by the time those headlines materialize, actual affordability might have already begun to slip away.
If you’ve been mulling the wisdom of your own Delaware home acquisition, let me show you some great properties…and some great numbers! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.