Listing Courtesy of BERKSHIRE HATHAWAY HOMESERVICES GALLO-L
Suppose you are a Sussex County homeowner who intends to move to a different home eventually, but for the moment, you aren’t under any particular deadline pressure that would dictate when you have to put your home on the market. In that case, you’re likely to keep tabs on overall market conditions, awaiting what looks like circumstances favor those with homes for sale.
Twice a year, the National Association of Realtors® issues their economists’ midyear forecast—it appeared last week. For those with homes for sale in Sussex County (or anyone thinking about adding theirs to the homes already for sale), the outlook was heartening.
The forecast was for the greater U.S. economy to improve, bouncing back from the weather-blasted winter stall which made the first quarter a disappointment. Subsequently, consumer spending opened up, causing expectation that the GDP would rise in the remainder of the year. Overall, the forecast for 2015 was positive, though lukewarm. As a whole, the year promises to be “not bad but not great.”
On the other hand, focusing narrowly on the outlook for U.S. housing market activity—homes for sale—the upside momentum was already decidedly more in evidence. The prospects for any single one of the Sussex County homes for sale depend upon a combination of factors, but if national activity is any reflection, the latest numbers packed what you could call a “6-7-8-9 punch”:
· Existing home sales in May notched a high water mark not seen in 6 years (and the 2009 level had been artificially inflated because of an $8,000 homebuyer tax credit).
· New home sales hit the highest level in 7 years.
· Housing permits to build new homes registered an 8 year high.
· Pending contracts to buy existing homes for sale reached a 9 year high.
Examining the demographics behind the figures, it was clear that, for the first time in quite a while, first-time buyers are back. Last year during the same period, only 27% of buyers were first-timers. They now make up a more normal 32%. As prices brought by homes for sale continued to rebound, institutional investors were disappearing from the scene, creating a more typical mix of buyers.
A major part of the reason why homes for sale were fetching “stronger than normal home price growth” had to do with a shortage of inventory—ascribed to the volume of new homes being built (or not being built). The rule of thumb is generally for about 1.5 million new homes to be constructed per year, a mark that’s failed to be realized for a number of years. In 2009, only 550,000 home were built—and the total had barely reached a million through last year. But now, with optimism among homebuilders at newly robust levels, it’s expected that normal output will have fully resumed by 2017.
The other major factor boosting sale prices was the specter of mortgage rate increases. Rising mortgage rates “initially rush buyers to decide”—just the kind of sign that could tip the scales for a homeowner who’s been waiting to add their property to the homes for sale in Sussex County. Should you decide that this summer is shaping up to have just the conditions you’ve been waiting for, I hope you’ll give me a call for a no-obligation consultation! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
There is something about spring that gets everybody at least thinking about fixing up the house, and it’s that time of year again. Throughout the length and breadth of Rehoboth Beach, home décor decisions are being pondered. Ambitious landscaping and fix-up plans are being laid, budgets drawn, and troops assembled (the troops will be armed with paint brushes and rollers, hedge clippers and rakes).
Perhaps it’s the weather; perhaps the angle of the sun—or maybe even last Sunday’s clock-adjusting exercise—for whatever the reason, this time of year is when we look around the house and decide changes will be made!!
It’s also the time of year when occasional disagreements between Sussex County’s husbands and wives have been known to crop up. The Home Improvement section of the realtor® web site just ran a feature titled “When Couples Disagree About Home Décor,” which promised to tell who the winner is in such arguments. It pointed out that women have different priorities than men (women: “leather makes those embarrassing noises each time you sit or stand” vs. men: “but you’re going to freak out each time someone sits on [the linen cushions] with a drink”). The woman who wrote the article says that she won the argument—but admits that now she freaks out every time someone sits on her sofa with a drink (it’s already freckled with water marks). So maybe the man won in the long run…
If your home décor efforts are getting special attention this season because you plan to add your home to the Rehoboth Beach listings, “what’s hot” might suddenly be more of a consideration. But a different home décor impasse can come about when the fashion zeitgeist points in one direction while your personal taste pulls in another. Even worse, you may find that the fashion world is arguing amongst themselves!
The Realty Skinny says, for instance, that gray is about to overtake white in popularity (simultaneously also “pushing out the beige era”). That’s not a problem for The Washington Post, whichagrees that “gray makes all your possessions pop out” (except, I have to believe, the gray ones).On the other hand, the Pantone Color Institute, which practically wrote the book on color, couldn’t disagree more. They think that pinkish Rose Quartz (“warm, embracing”) and faintly bluish Serenity (“calm-inducing”) are what’s happening right now. In fact, it/they are its Color[/s] of the Year. That is because “the pairing…brings a feeling of calm and relaxation into the home environment.” That would be welcome—especially when you’re freaked out about the water marks on the sofa.
You don’t have to be selling your home for home décor tweaks and garden renewal to occupy your thoughts, but if you do, I hope you will give me a call. My free, no-obligation consultation will let you in on the latest Rehoboth Beach market information. I think you’ll agree that knowing exactly what’s happening has a definite serenity-producing effect! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.