Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
Luxury home sales often trace a path that differs from the rest of the market. Just as high-end buyers can afford to take their time to find exactly the property they are looking for, Rehoboth Beach luxury homeowners tend to pick and choose when they will market their properties. That's pretty much what happened in the aftermath of the 2008 housing crisis: many luxury home owners in Rehoboth Beach decided to hold off and wait for the market to rebound before listing. Now, as the housing market continues to recover and home values continue to rise, the potential number of buyers interested in these homes is also on the upswing.
For those who have been postponing the sale of their own Rehoboth Beach luxury home, thisspring is shaping up as a likely time to act. Before you list though, it can't hurt to revisit some basic truths in high-end real estate marketing.
Selling a luxury home requires a different marketing psychology than does traditional real estate. It simply takes longer to find the buyers for these homes, so it is almost always necessary for their owners to practice extra patience throughout the sales process.
It is absolutely essential to work with a real estate professional with experience and connections in the luxury market. An experienced agent understands the ins and outs of selling a Rehoboth Beach luxury home. It's not unusual for them to have fostered a network of qualified potential buyers who may be interested in the property.
Luxury home sales are driven by the desire to attain or maintain a specific lifestyle. It is often necessary to sell the lifestyle as effectively as the home itself. This means staging the home properly, highlighting specific "starring" details, and making sure that everything inside and out is immaculately maintained. It means a little more work for both home owner and agent, but the plus side is the size of the reward at day's end.
If you have a luxury home in Rehoboth Beach and suspect that now is the right time to sell, contact me for the kind of reliable guidance that brings success!
You might have had a science teacher who explained to the class why perpetual motion machines aren’t possible. He would have had some common sense to back up his point (everybody knows nothing lasts forever). But the actual scientific explanation had to do with physics and Newton’s Laws: in the end, perpetual motion just isn’t in the cards.
When it comes to real estate, however, for a lot of happy residents, their Delaware home equity comes awfully close to being a kind of perpetual income machine.
There may not be a Newton’s Law of Retirement Motion, but for anybody planning their long-term future security, there should be. It would be straightforward:
For every mortgage principal payment, there is an equal and opposite addition to your home equity.
This simple Law has a profound effect in the real world. The PEW Research Center tells us that the typical median family’s expenditure for housing = 23% of after-tax income. That figure is for households with two earners and two children. If retirement will mean a reduction in those two earners’ income (as is usually the case), unless they reduce the size or quality of their housing, the percentage of income it claims will have to rise further. Not a very desirable outcome.
But apparently the majority of Americans have already taken our fanciful Law of Retirement Motion into account. According to the U.S. Census Bureau, among American homeowners who are 65 and older, a whopping 65.3% have no mortgages payments to make. They own their residences free and clear. For them, the home equity effect is, as financial adviser Robert Christman describes, “…almost as if you had saved enough extra to provide a monthly income equal to your mortgage.” It’s like a Newton’s Law of Perpetual Income.
The practical effect of owning your Delaware home outright isn’t as fanciful as are the non-existent Newton’s Laws—it’s darned real! Which is one reason my job helping clients land the right home at the right price ends up being so satisfying.
Do give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.