Listing Courtesy of MARVEL AGENCY INC
This is actually a situation that’s very common, but not much remarked upon: you know you are going to be selling your Lewes home—only not for a while…and perhaps not for a very long while! Is there anything you should be doing now, long before actual preparations are called for?
There sure is! Let’s call these low-intensity preparations. They may be low-intensity in the immediacy department, but when the distant day arrives when you are selling your home, they can be very fortuitous. Here are some of the elements you can benefit from putting into action long before you expect to need them—
Number One (the most obvious and perhaps most important) is landscaping. Trees and bushes are part of the backdrop of our everyday living, and something many people—even gardeners—may tend to accept without envisioning large-scale changes. That’s because they grow so slowly it doesn’t seem realistic to worry about what might be possible. But when you think long-range, landscaping should be at the forefront. When the time comes for selling your home, a vision first initiated five or 10 years earlier can become a colorful and shady reality, worth a very great deal in terms of the overall impression your Lewes property makes.
It’s human nature to just put up with heating, plumbing, air conditioning and other systems that could operate much more conveniently and economically, but which are expensive to overhaul. But think realistically: if you know that later on you will be selling your Lewes home—and realistically will certainly have to upgrade those vexing mechanicals when that happens—give serious thought to taking action earlier…even NOW! Not only will you be able to enjoy the improvement, it’s entirely possible that savings realized from the gains in efficiency will materially offset your initial outlay. Why let the future owners get all the benefit?
When you are selling a home, photography is one of the most impactful marketing tools you’ll have at your disposal. A couple of years before you plan to join the Lewes listings, keep a camera ready to snap those fleeting moments when the season and light combine to make some detail of garden or home magically illuminated. Even a professional photographer can’t ‘make’ such moments happen. As Ansel Adams’ outdoor masterpieces confirmed: the perfect light at the perfect season is worth more than money can buy.
It doesn’t hurt to keep abreast of happenings in the national and Lewes real estate market, so that you’re informed about what to expect when you ultimately join the fray. One of the best ways to do that (other than to keep reading my blog) is to check out the neighborhood listings from time to time: they’re here on my site. And one of the best ways to proceed when the moment does arrive when you will be selling your home in Lewes is (of course) to give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestate.com.
Sometimes the experts who project trends in residential housing and real estate find that they have to correct their predictions. Once the final statistics are in, if they consistently reveal errors as wide of the mark as 50%, it’s just embarrassing. Such was recently the case with Harvard’s LIRA remodeling project—and for those of us who represent buyers and sellers in the Lewes home market, the resulting revisions were meaningful.
Harvard’s Joint Center for Housing Studies’ statistical barometer for home improvement activity is known as “LIRA”—its Leading Indicator of Remodeling Activity. And as their research analyst Abbe Will wrote recently, it had become evident that “the quality and reliability of the LIRA’s benchmark data series declined markedly.”
When your benchmarks are no longer meaningful, there is only one thing to do: it’s called “re-benchmarking.” In this case, it caused JCHS to overhaul the very activities that it was attempting to measure. Instead of just projecting home improvement spending alone, the new “re-benchmarked” LIRA is broader. It adds maintenance and repair spending to remodeling activity.
What do the new findings augur for Lewes’s home market prospects? First good news: it looks as if the new projections should be much more reliable. And the graphs reveal a strong surge in national remodeling spending—not only for the remainder of this year, but for well into 2018. When remodeling spending is strong, real estate values (and prices) rise, too. For Lewes homeowners, the addition of the right kind of improvements is one way to bump up the value prospective buyers see a property.
One feature that Lewes’s luxury homes share is a well-planned, open kitchen. Where that is precluded by structural elements, one work-around is the addition of new appliances with a contemporary look. Stainless steel ovens and refrigerators have a way of creating a “luxury home feeling”—even when the spaces they occupy are relatively modest.
Another feature that signals opulence is at least one luxury bathroom. Spa-style baths can go far in that direction—and the resulting photography can add major eye-appeal to a listing. More modest improvements like changing out faucets for brushed nickel or other metal finishes (not gold, please!) can make outsized differences. Add fluffy new towels, and perhaps a scented candle—and the formerly so-so bathroom can become a mind-changer.
With LIRA’s home improvement activity projected to strengthen more than 8% this year—and promising further acceleration into next (to nearly $325 billion!)—it demonstrates the faith that consumers across the nation have in the growing value of their home investments. If you are evaluating the merits of various possible improvements for your home, I hope you won’t hesitate to give me a call. I’ll be glad to offer some incisive feedback on the preferences we have discovered with today’s Lewes buyers! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.