Listing Courtesy of BETHANY AREA REALTY LLC
When you recall how thoroughly public confidence was shaken during that last financial meltdown, you probably also remember how reluctant most people were to presume that Delaware real estate values would rebound anytime soon. Those who saw nose diving property values as nothing less than a great buying opportunity were in the courageous minority—even though a cool-headed review of the history of home values’ ups and downs made such a conclusion pretty safe.
Today there may be a similar Delaware real estate opportunity—although, in truth, you have to look a lot harder to see it. It’s emerging in the realm of Delaware rental real estate investments. Instead of resulting from a dramatic global financial shakeup, it’s the by-product of a less headline-grabbing phenomenon—namely, an emerging shift in American lifestyle and spending habits.
One piece of evidence can be found in the rapid adoption of “sharing economy” businesses like Airbnb and Uber. Forbes magazine points to their ascendency as evidence of a shift in Americans’ willingness to share goods and services with others—as well as a new attitude about ownership in general. It’s most evident among the younger set: “A fifth of Millennials would consider renting DIY products, clothing or sporting equipment,” one survey found—key drivers being affordability and convenience.
Forbes also looked at attitudes among Millennials about housing. Nearly a quarter who are not yet on the housing ladder said they were not concerned about owning a home of their own and would be content to rent for the rest of their lives. If offered lease terms of five or more years, they would be encouraged to “treat their rented property more like a home.”
Meantime, the widely-respected Pew Research Center found particularly that steep declines in homeownership are only partially due to the difficulty of coming up with a down payment. Even though mortgage approval rates are up, home loan applications are down.
This impact such an attitudinal shift could mean is underlined when you realize that there are 92 million Millennials. They make up the largest generation in American history. If they continue to place more value on the flexibility and convenience provided by the new business models, another outcome could well be the disappearance of the stigma that used to go with renting. Per the Urban Institute’s Laurie Goodman, the dip in homeownership among younger generations “is a permanent shift”—one evidenced by the rise in “lifestyle renters” (those who can afford to buy, but choose not to).
It could be part of why the rental market is booming across America—and lead to the conclusion that it will become, as Goodman stated, a permanent trend. If so, the long-term implications are certainly positive when it comes to Delaware rental real estate investments. For anyone who has ever considered diversifying into a Delaware real estate rental property investment, now would be a great time to call me to investigate further! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.
Your first open house in Sussex County can be compared to a movie’s world premiere. We may not have strobes flashing and paparazzi jostling each other, but all eyes are definitely on the above-the-title headline star: your house.
It’s a star that has to look its glamorous best, too, or the fans will be disappointed. The purpose of any Sussex County open house is to sell buyers on the largely emotional dream of potentially owning your home. Doing so means banishing everyday imperfections—the debris created by daily living—from the stage (at least to the extent it’s practical). Absolutely essential is insuring that the whole property, inside and out, is clean and tidy.
Your first open house is one premiere that can use some set decoration and makeup wizardry, as well. They call it ‘staging’ when a professional sets the scene, but you don’t necessarily need a pro stager to make some magic happen. Clear away every bit of clutter, then open the rooms to as much flattering light as you can to create a setting that will appeal to buyers.
To insure the opening is as grand as possible, your Sussex County open house should be literally as “open” as possible. Restricting a room or two does not play well with the critics, so unless there is a real risk in allowing visitors access, understand that any serious buyer will need to see everything. Covering things up will look suspicious—even if you know you’re just doing so because one room is a little messy. Having a room or two blocked off has been known to deter otherwise interested prospects.
Part of movie’s success depends on good word-of-mouth, so consider inviting the neighbors to stop by. They’ll be happy to receive an invitation, and their presence can also work in your favor. When neighbors are there, mingling in the lobby with potential buyers, their first-hand information about the neighborhood, schools, etc. will carry ultimate believability.
First rate Hollywood premieres provide press kits by the score; your Realtor® should do the same. A front table should have your agent’s color fliers with all the necessary information about the house…and you can consider taking it one step farther with a sheet of your own detailing what you love about the home, the neighborhood, the local schools, shops and restaurants. It’s the kind of souvenir that can keep your house in the running when buyers decide which properties rate a second visit.
Helping create Sussex County open house hits is just part of my job! If you are looking to sell your home, contact me today to discuss the details of a marketing plan that will bring the results you want. 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.