Listing Courtesy of OCEAN ATLANTIC SOTHEBY'S INTL REALTY
Charlie Chaplin always managed to mix a good measure of insight in with the silent movie knee-slappers. It was “The Little Clown” who once said, “The saddest thing I can imagine is to get used to luxury.” One way or another, we Americans have come up with a singularly surefire way to overcome that problem: we just constantly redefine what comprises “luxury”!
Real estate website Trulia proves the point. Each year they count how frequently certain phrases appear in luxury listings—here in Delaware Beachas well as across the nation. From year to year, their findings provide an interesting measure of what’s hot and what’s not in luxury listings.
Buyers Want A Room With A View (and A Marble Bath!)
The words that most commonly appear in luxury listings are marble bath, roof deck and oversize windows. Luxury listings were 78% more likely to contain marble bath than was true the previous year. And windows seemed a focal point in the latest luxury listings: three of the top seven phrases dealt with them in one way or another. Oversized windows were 56% more likely to appear this year, floor to ceiling windows were up 39%, and ceiling windows appeared 37% more frequently.
There seemed a general drift toward defining luxury characteristics as that which can be seen from outside the home as much as what is found inside. Delaware Beachsellers might note that, along with great windows, roof decks and terraces were other popular draws in the luxury listings.
Luxury Cooking Facilities No Longer As Hot
At the same time, cooking and kitchen amenities seemed to have faded in importance. BBQ was the amenity that dropped the most—declining by 16%. Other big losers were stainless appliances, custom cabinets, gourmet kitchen and breakfast areas.
Yesterday’s Luxury: Today’s Necessity?
A word of caution about all this: when we are deciding the important phrasing for our own Delaware Beachluxury listings, it’s worth considering that what was yesterday’s “luxury” can quickly become today’s necessity. Just as we wouldn’t think of heated indoor plumbing or refrigerator as a high end amenities, at some point they were. Amenities that were once emphasized may no longer be given prominence because buyers have simply come to take it for granted that they will be included…if they were headlined, the listing might look…well, average. As our conception of luxury redefines itself, we should expect their listing phrases will change, too.
Whether you agree with Charlie Chaplin or not, luxury in housing is apparently here to stay. If you are interested in exploring—or adding to—the luxury listings in Delaware Beach, don’t you be silent—give me a call today!
When your family needs more or less elbow room, or a neighborhood change is in order, it’s time to start combing the listings for the right Bethany Beachhouse for sale. At the same time, though, now that prices have been steadily rising for so long, it’s not unreasonable to ask yourself if this a good time to be looking? The question arises from the investment side of a home purchase; so it’s logical to ask what the investors are doing…
Those who looked upon any Bethany Beachhouse for sale only as an investment rather than a place to live tend to fall into one of two groups. The first live by the buy low, sell high school of investing. It’s a philosophy that makes perfect sense—it’s been around since before Wall Street was even paved, and its logic is unarguable. Back when U.S. real estate prices took the express elevator down to street level (and below), this group looked at the chart that showed median house prices, noted the cliff they had just gone over, and started looking for the nearest house for sale to scoop up. Their assumption was that these prices had to go up…eventually—no matter how bleak the future looked. Because that’s always the case.
But that group of canny local investors soon found themselves with unexpected competition. Big investment conglomerates started showing up, suddenly looking for houses for sale at bargain prices. The result was a strange kind of bidding war, where the ‘buy low’ investors who spotted a Bethany Beachhouse for sale at a fire sale price had to compete with institutional bidders (and they had unlimited budgets!). A lot of all-cash sales were made, at a few dollars higher than would have been the case if strictly local investors had had the market to themselves.
Although the second kind of investors may have agreed that there is unarguable arithmetic underlying the ‘buy low, sell high’ philosophy, they are unimpressed by it. Buying low and then selling high is a fine abstraction, but since you never know when the lowest price has been reached, nor when the peak high prices have arrived, they ignore the whole price roller coaster phenomenon. Whenever they have accumulated the right amount of money to invest, their single concern is to find a quality Bethany Beachhouse for sale, buy it at a fair current comparable price, and then hold on to it. They have confidence that markets rise and fall, but in the long run, a quality residence will appreciate in value. So these are the buy and hold investors.
Now, most of us consider a Bethany Beachhouse for sale primarily as a place to live rather than as an investment vehicle. Nonetheless, we don’t offer to pay more than its current market value because we don’t want to lose financially should we decide to sell. But in most cases, we plan to live in the home long enough that we consider a loss unlikely. In other words, we fall into the buy and hold group.
So what does that suggest about whether it’s wise to be looking at Bethany Beachhouses for sale when prices have risen as they have? I may be a bit prejudiced, but a ‘yes’ isn’t hard to come by. For the ‘buy low, sell high’ folks, we haven’t even hit the previous high water mark when you take inflation into account. For the buy and hold adherents, it’s always the right time to buy a quality home at a fair price—especially when mortgage rates are low. Which means that now is also the right time to give me a Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.