Listing Courtesy of JACK LINGO REHOBOTH
Good investors tend to be cautious souls. For those who prior to 2007 had never ventured into the realm of Rehoboth Beach real estate investments, the ensuing downturn might have been enough to discourage any curiosity about that direction (even if their other investments had also suffered during the global financial crisis).
Nonetheless, at this juncture those same cautious investors might well assume that the value of real estate investments in the Rehoboth Beach area have rebounded so substantially that it’s now too late to bother looking into them. But as National Public Radio has just pointed out, there's an excellent argument to be made that conditions are now highly conducive for real estate—with real estate investments in Rehoboth Beach being no exception. I could tick off three solid reasons that immediately leap to mind, but stand corrected: NPR points to four:
1. Employment. Employers are hiring anew, and "when companies are hiring, would-be homebuyers feel more confident about taking on mortgage debt." Unemployment rates have (finally!) come down to 5.6%, and with employers having added 252,000 jobs in December, consumer confidence is up nearly 20% over a year ago.
2. Prices seem more rational. NPR points out that from January to October, prices rose 4.5% nationally; a "subdued" gain compared with the 11% burst of the year before. They project that the slower price appreciation may have set the stage for a "buying surge in 2015." From a Rehoboth Beachreal estate investments standpoint, too, gains from last year’s run-up in equities markets combined with mortgage rates still holding below 4% would seem to create the key elements many investors would consider favorably.
3. Demand for rentals is high. There is a healthy demand for rental accommodation across the country due to a tight supply of quality accommodations. USA Today tells us that between 2009 and 2013, the national vacancy rate for apartments dropped from 8% to 4.1%. Over the same period, the effective rent increased by 12% to $1,083. As one potential consequence vis-à-vis Rehoboth Beach real estate investments, new landlords might expect to be more selective about the tenants that they choose. That would mean fewer headaches for landlords with troublesome and slow paying tenants. It is might also portend that investment properties will stand vacant for briefer periods.
4. Millennials are sick of Mom’s basement. NPR points to a Census Bureau report that says only 36% of Americans under age 35 own a home, down from 42% just seven years ago. The recovering employment picture might not enable young people to save up for a down payment for a while yet, but renting quality digs should soon be more doable than was previously the case. That could set the table for a continuing robust rental environment, with Rehoboth Beach real estate investments benefitting proportionately.
NPR’s four reasons for optimism in 2015 are actually only the tip of the iceberg. If you have ever had the thought that it could be worthwhile to take a look at Rehoboth Beach real estate investments, this is a great time of year to give me a call!
As its name clearly implies, The 184 Things a Real Estate Agent Does for You is an exhaustive list of the actions a Rehoboth Beach real estate agent is called upon to perform on behalf of a client. It is an authentic real estate Golden Oldie.
Whenever someone wonders aloud what it is that Rehoboth Beach real estate agents do to earn their commissions, many of we agents have the option of digging around in a drawer for a wrinkled printout of The 184 Things. If there were a Real Estate Hall of Fame, The 184 Things would be sure to have its own spotlighted exhibit…or even an interactive video display (so the kids could push colored buttons that would seem to make the list interactive).
Since the list is 184 items long, it’s a good bet that, given the option, very few of our clients would have read the whole thing (if they had, they’d probably be so exhausted they might well reconsider selling their house at all).
Actually, the truth is real estate agents don’t perform all 184 in the course of any single home buying or selling transaction. Some items refer to specific kinds of deals; some others aren’t always necessary. But they’re all authentic, and for most Rehoboth Beach transactions, we really do execute on a lot more than half of them. To give you the flavor, they are actions like “Verify legal description,” “Confirm lot size via owner’s copy of certified survey, if available,” “Prepare detailed list of property’s ‘inclusions & conveyances’…,” and so on.
Like so many other epochal historical events, the birth of The 184 Things seems shrouded in mystery. You might think that the reason is because it happened so long ago—but 2006 isn’t really that long ago. Perhaps the mists of time haven’t actually had a chance to fully enshroud the event…so maybe simple confusion is responsible. Most historical citations credit its origin to a 2006 House of Representatives Financial Services Sub-Committee hearing, during which the president-elect of the NAR presented the Things at the conclusion of her testimony. This could have happened after some House member made the innocent mistake of asking what real estate agents do to earn their commissions…but the actual exchange that provoked the list has been lost for all time.
At any rate, despite the House hearing being often credited as the point of origin for The 184 Things, there are problems with that story. The House archives’ transcript of the hearing shows a written Attachment that has 180 Things—not 184! But that’s not the only mystery, because the Attachment has a footnote, which seems to credit the Orlando Regional Realtor Association. It’s only after you consult the ORRA’s web site that you come upon what may be the original list, with all 184. If they ever do build a Real Estate Hall of Fame, it could be a reason to put it in Florida…
I don’t need to do each one of The 184 Things every time I set about helping a client buy or sell their Rehoboth Beach home—but it’s certain I do an awful lot of them. My own list is simply one with all of the things that need to be done—and that turns out to be different for every client and every property. The first item is always the same, though—and it’s all yours: call me! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.