Listing Courtesy of OCEAN ATLANTIC SOTHEBY'S INTL REALTY
Suppose you are a Rehoboth Beach homeowner who intends to move to a different home eventually, but for the moment, you aren’t under any particular deadline pressure that would dictate when you have to put your home on the market. In that case, you’re likely to keep tabs on overall market conditions, awaiting what looks like circumstances favor those with homes for sale.
Twice a year, the National Association of Realtors® issues their economists’ midyear forecast—it appeared last week. For those with homes for sale in Rehoboth Beach (or anyone thinking about adding theirs to the homes already for sale), the outlook was heartening.
The forecast was for the greater U.S. economy to improve, bouncing back from the weather-blasted winter stall which made the first quarter a disappointment. Subsequently, consumer spending opened up, causing expectation that the GDP would rise in the remainder of the year. Overall, the forecast for 2015 was positive, though lukewarm. As a whole, the year promises to be “not bad but not great.”
On the other hand, focusing narrowly on the outlook for U.S. housing market activity—homes for sale—the upside momentum was already decidedly more in evidence. The prospects for any single one of the Rehoboth Beach homes for sale depend upon a combination of factors, but if national activity is any reflection, the latest numbers packed what you could call a “6-7-8-9 punch”:
· Existing home sales in May notched a high water mark not seen in 6 years (and the 2009 level had been artificially inflated because of an $8,000 homebuyer tax credit).
· New home sales hit the highest level in 7 years.
· Housing permits to build new homes registered an 8 year high.
· Pending contracts to buy existing homes for sale reached a 9 year high.
Examining the demographics behind the figures, it was clear that, for the first time in quite a while, first-time buyers are back. Last year during the same period, only 27% of buyers were first-timers. They now make up a more normal 32%. As prices brought by homes for sale continued to rebound, institutional investors were disappearing from the scene, creating a more typical mix of buyers.
A major part of the reason why homes for sale were fetching “stronger than normal home price growth” had to do with a shortage of inventory—ascribed to the volume of new homes being built (or not being built). The rule of thumb is generally for about 1.5 million new homes to be constructed per year, a mark that’s failed to be realized for a number of years. In 2009, only 550,000 home were built—and the total had barely reached a million through last year. But now, with optimism among homebuilders at newly robust levels, it’s expected that normal output will have fully resumed by 2017.
The other major factor boosting sale prices was the specter of mortgage rate increases. Rising mortgage rates “initially rush buyers to decide”—just the kind of sign that could tip the scales for a homeowner who’s been waiting to add their property to the homes for sale in Rehoboth Beach. Should you decide that this summer is shaping up to have just the conditions you’ve been waiting for, I hope you’ll give me a call for a no-obligation consultation! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
If 90% of home buyers use the internet at some point in their search, the percentage who go to the Rehoboth Beachlistings has to be close to the same ballpark. It’s hard to imagine anyone NOT wanting to take at least a peek at the current listings. Even if they have already settled on a target property, curiosity would send most of us to check out the way it’s described in its Rehoboth Beachlisting.
When you begin your house-hunting project online, the chances are you just scan the listings’ major features to narrow down the candidates, leaving out the majority of the finer details until later. Some of that information might turn out to be decisive—but most likely not until you’ve settled on the major contenders, and possible already toured them in person.
What can be more important than you’d think might be the descriptive language that describes the overall property: the ‘blurb’ that’s up there at the top of Rehoboth Beachlistings. Just as a good salesman in any field strives to present the most attractive facets of their product, a Rehoboth Beachlisting’s descriptive paragraph can be as important as the glamour photo that accompanies it.
In pursuit of facts that might support that idea, Zillow’s writer Catherine Sherman took a look at some research that dissected the language used in some 24,000 listings. They all resulted in sales—but some brought higher sale prices than did others. Her summary of the findings is pretty interesting:
Luxurious, Captivating, Impeccable (and Spotless) were among the adjectives that appeared most often in listings that resulted in above-average sale prices. That stands to reason: adjectives pointing to higher-end features would be apt to set a superior tone.
Less obviously, some of the nouns that accompanied larger price tags were Basketball, Pergola, and Granite. “Granite” will surprise no one who has been exposed to home design over the past 20 or 20 years—granite counters are the default go-to material that’s come to symbolize quality in kitchen décor. And pergolas are landscaping plusses…
Apparently for lower-priced homes with listings that mention ‘basketball,’ selling prices are 4.5% more than expected. You have to suspect that the word gives some color to a run-of-the mill listing—yet I’d be surprised if just setting up a hoop over the garage door made much of an impact. When Author Sherman writes “Among lower-priced homes…an indoor basketball court is a huge selling point,” I have to think, “DUH!” How many Rehoboth Beachlistings for lower-priced homes have indoor basketball courts (or bowling alleys or soccer stadiums, either)?
More practically, Upgraded and Updated were listing words that coincided with slightly higher sale numbers—at least in mid-priced homes. And Gentle was a surprising winner, too, as in “gentle rolling hills.”
I think ‘gentle’ highlights the most important take-away that I believe is relevant and true. Thoughtfully composed, accurate descriptions are what give Rehoboth Beachlistings a working advantage over cookie-cutter summaries—especially those weighed down by cliché-studded vocabularies. I work hard to insure that my clients’ online presence stands out from the crowd. If you plan to be listing a Rehoboth Beachproperty soon, I hope you will give me a call to demonstrate 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.