Listing Courtesy of WILGUS ASSOCIATES B
Not everyone who is looking at the homes for sale in Delaware needs to come up with a winner right away. If their own house has just been listed, they may reasonably estimate that it will be some months before the moving vans need to be summoned. Or they may be contemplating a move only if they happen across just the right place at just the right price.
If you find yourself in a similar kind of low-pressure house hunting mode, some basic truths about homebuying still do apply. Remember that when you finally do find just the right home at just the right price, all of a sudden you could find yourself in competition with others who see the same thing: the house they’ve been looking for!
The takeaway is that, even if your interest in today’s Delaware homes for sale is strictly low-key, it’s prudent to prepare yourself as if yours is more of a front-burner quest. Although it could seem to be more trouble than it’s likely to be worth, most people in a similar “just looking” frame of mind won’t have gone to the trouble. In other words, when the Delaware house of your dreams suddenly does come on the market, guess who’s going to be the one to land it?
Here are three checklist items that will position you to make the most of any Delaware house hunt:
Today’s low home loan rates are allowing surprisingly affordable monthly payments—numbers which can transform even the least motivated prospects into active house hunters. To see what that means in terms of the actual current crop of Delaware homes for sale, 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.
The upheaval in global financial markets over the past few years may have been unnerving for almost everyone, but among the hardest-hit group was first time home buyers, in Sussex County and across the country. Many had to deal with the stress caused by an uncertain economy, the fallout on business and job security, and, more directly, a pronounced increase in the difficulty of securing mortgages.
The good news for Delaware first time home buyers is how the national situation has stabilized. It’s confirmed by the increase in the number of people interested in buying a home for the first time—which has climbed out of the slump. The latest NAR (National Association of Realtors®) annual Profile—a yearly report describing home buyers and sellers—shows that new entrants into the residential market accounted for 39%, just 1% shy of the pre-crash mark.
If you’re selling a Delaware home and have priced it attractively, it could pay to be mindful of this important segment of our market.
So just who are Delaware’s first time home buyers? That’s where the NAR report gives us some important clues. Three-quarters of first time buyers across the nation fall into the category of current tenants —those living in rented accommodations—with 18% still living with parents. As you’d expect, almost all (98%) of that segment hope to fund their purchase with a mortgage, with 81% preferring a fixed-rate loan. Some first time home buyers plan to use personal savings for the down payment, but many others plan to get help from family. (Sussex County home sellers take note: one possible incentive to make your listing stand out might be to include an offer to cover closing costs.)
Three-quarters of respondents were aged from 22-42. The single most common reason given for buying a home is to start a family (70%), and of those buying a home for the first time, 51% are married couples. With proportions like those, any home in a family-friendly area should benefit by pointing out attractions like local parks, playgrounds and superior schools.
Maybe the most interesting statistic in the report was that 28% of the first time home buyers were already making plans to move again within five years! It may follow that, at least in many cases, first time home buyers in Delaware may not want to deal with remodeling issues. Attracting them could be the final reason to bring your property into “move-in” condition.
Well thought-out marketing is the key to success with any listing, whether it’s catering to Delaware first time home buyers or to any other segment. If you are thinking of selling your own home, a call to me and a some preliminary groundwork on a marketing plan that will work for you is definitely in order!