Listing Courtesy of DELMARVA RESORTS REALTY
When the first spring day comes along (as opposed to the first day of spring), a goodly proportion of residents feel the annual pull, toward the garden store aisles. Even those who’ve stoutly resisted ordering seeds, gardening tools, or any of the other back yard paraphernalia the catalogs kept hawking all winter can succumb to this particular Call of Nature.
Burpee, Scotts and Miracle-Gro shareholders can relax: spring has sprung.
The Lewes spring real estate selling season starts stirring, too, pretty much in lockstep with the appearance of the tulips. Whether or not the tulips have succeeded in poking up out of the ground, it’s a cinch that by this time they will have made colorful appearances on store shelves everywhere, just like the Peeps and chocolate bunnies. Unlike the rest of the early spring’s trappings, though, the spring real estate phenomenon doesn’t disappear from sight once Easter Sunday is a memory. In fact, it picks up steam.
There are any number of explanations why spring real estate in Lewes is always expected to ramp up. Part of the reason is the calendar. For families with children, if a move is going to involve a change in school districts, summer vacation is the least disruptive time of year for it to happen, so spring is the time to start house hunting. Part of the reason is due to the comparative difficulty of selling a home in wintertime: not only can foul weather make it harder to keep a home at its showy best, it also can throw a monkey wrench into property maintenance and the few cosmetic fixes that almost every home could use before it hits the Lewes listings. The result is a certain amount of bottled-up inventory that bursts onto the scene all at once—and springtime is the single time of the year when that happens.
Then there is the automatic momentum effect. When you sell a Lewes home, most families need to turn around and buy the next. The National Association of Realtors® tells us that the spring real estate selling season may actually be stronger than the numbers indicate, because many sales that really did begin “in season” don’t actually close until summer begins. Spring real estate as a phenomenon is “real” enough that you can’t blame them for lines like “Spring brings rain and flowers—and possibly extra green in the final sales price of your home.”
The spring real estate selling season is indeed underway, so if you are planning on listing your own Lewes home anytime soon, now is a great time to give me a call. It’s the best way to take advantage of the traditional boom in prospective buyers!
Delaware property owners, whether they are single homeowners or large institutions holding multiple rental properties, are members of the same club—at least by one definition. They are all real estate investors, even though not all of them are the kind of Delaware property owners who keep an eagle eye trained on the value of their real estate investment portfolio (most of us think of it more as just “home”). Unless they plan to sell sometime soon, today’s asset value, book value, or whatever financial term you are looking at, is pretty much an abstract notion. It only becomes significant in the real world if you set your sights on selling.
Even so, Delaware property owners may be interested to learn that the past few years’ steady rise in property values nationwide has created the kind of investment opportunity that even Wall Street hasn’t been able to ignore.
Recently there was a conference in ritzy Scottsdale, Arizona, that illustrated the point. It was called the 2013 REO-to-Rental Forum. In their final MarketPulse newsletter of the year, trend-watcher Corelogic observed, “The fact that there are now conferences for single-family residential institutional investors speaks volumes about the increasing maturity of this new investment asset class.”
If you are a Delaware property holder, that’s welcome news. It indicates a number of positive things about the current state of the overall market, and the value of your own property. As CoreLogic points out, although investing in residential real estate is nothing new, what is new is the aggregation of large portfolios of properties under professional management —as well as “the availability of institutional investor capital to fund their acquisition.”
English translation: the smart money thinks single-family residences are a good investment.
Toward the end of the CoreLogic report was the latest year-over-year comparison: 12 ½% growths in home prices— even including distressed sales. It doesn’t take a Wall St. wizard to appreciate that kind of growth!
If the coming months will see you looking to sell (or buy) a Delaware property, give me a 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.