Listing Courtesy of JACK LINGO REHOBOTH
Rehoboth Beach's economy, like all others, is largely dependent upon consumers doing what consumers are supposed to do: buy! Why they make their decision to behave or not is every bit as complicated as you would suppose. It’s the product of how their own careers are faring; how the greater economy (and the economy in Rehoboth Beach) are doing; even how the world economy is behaving—or seems likely to behave anytime soon.
In all of this, the hard facts about how the economy is actually doing are not just backward-looking, they’re also slow to arrive. Worse yet to those who think numbers should mean something definite, the numbers are frequently recalculated later. The latest ‘jobs’ numbers or the ‘housing starts’ numbers, when they are announced, are often accompanied by a statement that the previous quarters number has been "revised to" x. If you are a local business person who makes projections based on the best information available, that wouldn’t be the new number—it would be the previous, now revised number: very old information.
There is one way around this, though, and that’s fortunate. Everybody has the same reliability and timeliness problems, yet have to have some basis for making discretionary spending decisions. The usual solution is to rely upon measurements not of the actual economy’s activity now or in the past, but of what most people expect that activity to be in the future.
Yes, that kind of measurement is ‘soft’—opinion, rather than hard data. But if those expectations are widely publicized, they affect what actually comes to pass. If consumers are bullish on the future, well, that’s reassuring news! Rehoboth Beach businesses are encouraged to stock their shelves. People are more likely to list their Rehoboth Beach homes for sale. The local economy looks better and better! On the other hand, if consumers are depressed about the future, caution will prevail. Businesses will hold off on new hires and trim their inventories. You can’t be too careful, after all. To some degree, consumer expectations often become self-fulfilling prophesies.
That’s why latest consumer confidence reports are the best news for the future of the economy we’ve heard for some time. Last week, Reuters ran the headline, "U.S. Consumer Sentiment at Eight-Year High"; the Business Insider, "Consumer Confidence Crushes Expectations." Reuters attributed the burst of citizen optimism to "improved prospects for jobs and wages, and on lower gasoline prices…"
The University of Michigan co-sponsors the index upon which the numbers are based, which showed December’s reading of consumer sentiment at 93.8, "the highest reading since January 2007." That was a full 4 points above the median that had been previously forecast by 70 economists. It was also 5 points higher than the final reading for November.
If the Rehoboth Beach economy perks up as anticipated, area real estate watchers should expect a noticeable uptick in activity—particularly if mortgage interest rates stay low, and inflation remains a non-factor (the same survey pegged consumer inflation expectations at 2.9%). If you are an Rehoboth Beach homeowner or prospective buyer with an equally upbeat outlook, it’s good reason to give me a call to discuss how your plans dovetail with a rebounding market!
A property search in Delaware just ain’t what it used to be.
Young adults grew up with computers, so to them the advent of the connected world—the Internet—brought fewer startling lifestyle changes than it did for their parents and grandparents. But for anyone who thought the emergence of the Web would be the most lifestyle-changing technical innovation to happen in our lifetimes: SURPRISE! Now the whole circus has gone mobile—migrated into phones and tablets and who-knows-what other kinds of devices—all bluetoothed and wirelessed everywhere!
The Wired World brought information into our offices and homes (to the dismay of encyclopedia and dictionary salesmen everywhere); now the Wireless World brings information to wherever we are at any moment (to the dismay of mapmakers and newspaper publishers everywhere).
Yikes! One of the most head-spinning results is the transformation of Delaware property searches. Astoundingly, the NAR tells us that 62% percent of those who buy homes today view them first online! No wonder—the Internet has sped up our already busy lives, so our overloaded schedules make it all but mandatory to look for properties online first—before creating the list of properties we want to view in person.
One of the things you’ll notice immediately when you begin an Delaware property search is the sheer number of results that can come up. That makes it all too easy to find yourself spending more search time than you’d like—sometimes even becoming overwhelmed. To make sure that doesn’t happen, there are a few shortcuts you can take to get the most out of every Delaware online property search.
A good first step is offline: before you click anywhere, make a list of all of the things that are absolute “must-haves” for your Delaware home. This list will provide the basis for all your searches, and weed out time-wasters. Next, create a list of “nice to haves.” If your first list yields too many candidates, use this second one to narrow the field (if your in-person tours don’t pay off, you can always return to List One).
Narrow the Area
If you already know the general neighborhood you’d like to live in, use that to limit the search results. You don’t need to know the area intimately since many sites allow you to search by map or by radius from a specific location (like a school or workplace).
Use Several Sites
There are literally hundreds of real estate search sites, so make it a point to look at those using SCAOR’s MLS (multiple listing service). They have the broadest assemblage of properties regardless of the listing agent. Online sites like Zillow.com and Trulia.com can also be useful in widening your Delaware property search, frequently including homes that are for sale by owner—often not listed by the MLS service (though if you want a buyer agent’s help, you should make sure the owner is willing to work with your agent).
Ready to start your property search here in Delaware? Give me a call—I can send you new listings that meet your criteria the instant they come online!