Charming classic Bay front cottage in the small beach community of Slaughter Beach. Cottage style home w/ wrap around porch, wood floors, & recent energy upgrades. Very Strong rental history. Sold As-Is &partially furnished. Enjoy the peaceful sights and sounds of nature while living on the bay!
Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
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Micro apartments, once considered a momentary fad, are become an increasingly popular choice for city residents across the nation. It's a trend that might signal the beginnings of a shift in Delaware apartment living as well.
The tiny apartments known as “micro apartments” generally feature a small bedroom, private sitting area, bathroom...but not much more. In a typical floor plan, a living unit has 200 square feet or less -a far cry from American norms for the better part of a century. It is true, though, that there is nothing new about cramped apartments and shared living spaces. What sets today’s micro apartments apart is their success in combining comfort and livability with the affordability that is their main appeal. Design features such as folding bed alcoves, high ceilings and raised closets help to create an illusion of space when the actual living area is tinier than even the smallest traditional apartment.
Smaller apartments share micro apartments' standout characteristic: micro rental prices. It's an attracting that has always proved popular among younger Delaware apartment dwellers with entry level jobs, service industry employees who want to live closer to work, older single adults, students, and retirees who want to shed their empty nests and settle in convenience-packed urban areas. With reduced square space, micro apartments are not only cheaper to buy or rent, but usually significantly easier to clean and maintain. Many of the new micro apartment units also feature nearly as much storage space as much larger apartments.
The newest wave of micro apartments does have their share of detractors. Some have expressed concern that encouraging landlords to increase their ability to collect rent from more tenants in a smaller space will likely invite rent increases for standard-sized apartments.
Urban living remains desirable for many—but affordability remains a limiting factor. Micro apartments raise a new possibility for providing a cost-effective option that wasn't on the horizon even a few years ago. Whether or not the “thinking smaller” approach of micro apartments affects local scene, keeping track of its popularity on the national front is a good idea for area real estate watchers. There's no denying it could point to a changing environment for our own Delaware market for tenants, landlords and real estate investors.
If you have been surveying the current crop of investment properties, you don't have to be planning your own Delaware micro apartments to make forward-thinking decisions. Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.
Delaware property owners, whether they are single homeowners or large institutions holding multiple rental properties, are members of the same club—at least by one definition. They are all real estate investors, even though not all of them are the kind of Delaware property owners who keep an eagle eye trained on the value of their real estate investment portfolio (most of us think of it more as just “home”). Unless they plan to sell sometime soon, today’s asset value, book value, or whatever financial term you are looking at, is pretty much an abstract notion. It only becomes significant in the real world if you set your sights on selling.
Even so, Delaware property owners may be interested to learn that the past few years’ steady rise in property values nationwide has created the kind of investment opportunity that even Wall Street hasn’t been able to ignore.
Recently there was a conference in ritzy Scottsdale, Arizona, that illustrated the point. It was called the 2013 REO-to-Rental Forum. In their final MarketPulse newsletter of the year, trend-watcher Corelogic observed, “The fact that there are now conferences for single-family residential institutional investors speaks volumes about the increasing maturity of this new investment asset class.”
If you are a Delaware property holder, that’s welcome news. It indicates a number of positive things about the current state of the overall market, and the value of your own property. As CoreLogic points out, although investing in residential real estate is nothing new, what is new is the aggregation of large portfolios of properties under professional management —as well as “the availability of institutional investor capital to fund their acquisition.”
English translation: the smart money thinks single-family residences are a good investment.
Toward the end of the CoreLogic report was the latest year-over-year comparison: 12 ½% growths in home prices— even including distressed sales. It doesn’t take a Wall St. wizard to appreciate that kind of growth!
If the coming months will see you looking to sell (or buy) a Delaware property, give me a call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.