Listing Courtesy of COLDWELL BANKER RESORT REALTY - R
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!
One strategy for selling your Sussex County home is to recognize the segment of the general public most likely to appreciate its inherent features, then be sure your sales approach will appeal to them. That doesn’t mean you will turn your back on all the other groups of buyers, of course—but it does mean you will make a deliberate effort to be especially sensitive to that group’s preferences, and highlight the features that are most likely to top their wish lists.
When the Target Audience is Empty-Nesters…
The majority of current Sussex County empty-nesters belong to the baby boomer generation. They are somewhere between 50 and 68 years of age, and there are about 75 million of them in the U.S.—nearly a quarter of the population. Empty-nesters are parents who currently don’t have any of their kids living with at home. Most empty-nest buyers are looking for a permanent address to settle down in as they hit their later years. The question is, what features make a home most desirable to empty nesters?
What can be slightly tricky about general rules for selling a home to this population is that although most are set on downsizing, they don’t want to feel shoehorned into their space, either. Empty-nesters are often moving out of a home that has become demonstrably too large after the kids moved out. But that can also mean that they are used to a lot of space—probably don’t want to be crammed into a tiny house that can’t accommodate children and grandchildren when they do come to visit.
It’s going to be a compromise. “Moderate space” would most likely be no more than 3 bedrooms and no fewer than 2—with two bathrooms the norm. This description offers nesters the possibility of catering to hobbies on a day-to-day basis, while still allowing some accommodations for guests. More significant properties—those with 4 or more bedrooms— are more likely to find success by marketing messaging that points toward growing families.
Easy to Maintain
As always, it’s a selling ‘must’ to ensure that your Sussex County home is shipshape! When prospects are able to see how much care you’ve put into your property, they are that much easier to interest than when it’s clear they will be required to come up with their own extra sweat and budget dollars. When you know that part of your preparation will include replacements, it’s a good idea to emphasize ease of maintenance in your choices. Examples are gutters that are shielded, windows that tilt up for easy cleaning inside and out, etc.
Whether or not your home is likely to attract Sussex County empty-nesters, knowing what part of the market will have the most likely prospects—and how to shape the sales messaging accordingly—is part of the no-obligation consultation I offer everyone who is deciding how they will go about selling their home. Give me a call to schedule one this week! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestate.com