Listing Courtesy of BETHANY AREA REALTY LLC
Luxury home sales often trace a path that differs from the rest of the market. Just as high-end buyers can afford to take their time to find exactly the property they are looking for, local luxury homeowners tend to pick and choose when they will market their properties. That's pretty much what happened in the aftermath of the 2008 housing crisis: many luxury home owners in Bethany Beach decided to hold off and wait for the market to rebound before listing. Now, as the housing market continues to recover and home values continue to rise, the potential number of buyers interested in these homes is also on the upswing.
For those who have been postponing the sale of their own Bethany Beach luxury home, this year is shaping up as a likely time to act. Before you list though, it can't hurt to revisit some basic truths in high-end real estate marketing.
Selling a luxury home requires a different marketing psychology than does traditional real estate. It simply takes longer to find the buyers for these homes, so it is almost always necessary for their owners to practice extra patience throughout the sales process.
It is absolutely essential to work with a real estate professional with experience and connections in the luxury market. An experienced agent understands the ins and outs of selling a Bethany Beach luxury home. It's not unusual for them to have fostered a network of qualified potential buyers who may be interested in the property.
Luxury home sales are driven by the desire to attain or maintain a specific lifestyle. It is often necessary to sell the lifestyle as effectively as the home itself. This means staging the home properly, highlighting specific "starring" details, and making sure that everything inside and out is immaculately maintained. It means a little more work for both home owner and agent, but the plus side is the size of the reward at day's end.
If you have a luxury home in Bethany Beach and suspect that now is the right time to sell, contact me for the kind of reliable guidance that brings success!
Anyone who has ever thought about becoming a landlord in Bethany Beach, DE has probably been attracted by its distinct advantages as an investment. Owning a property that appreciates in value at the same time it generates cash flow is a hands-on investment with obvious appeal. Yet that same “hands-on” factor can cause second thoughts: the very phrase “becoming a landlord” can inhibit busy would-be Bethany Beach, DE investors who aren’t eager to enroll in a second or third career.
In reality, becoming one of Bethany Beach, DE’s next landlords is considerably less daunting than it might appear. The “Forbes Real Estate Council” recently offered some choice observations on that score.
The Council is an assembly of seasoned high-end professionals whose commentaries appear on the heavily trafficked Forbes site. Their ideas frequently make good reading—especially when they manage to distill million-dollar wisdom down into a few major guiding principles. For Bethany Beach, DE investors grappling with the idea of becoming a landlord, real estate management software CEO Nathan Miller recently offered his distillation of the top ways to maximize real estate investment profits. There were three:
1. Tenant screening is the Number One priority. Quality tenant background and credit screening services cost as little as $15.
2. Have your tenants pay rent online.
3. Require standard routine maintenance be performed by a licensed professional (or DIY if you are qualified)—don’t delegate to tenants.
For Bethany Beach, DE landlords, following these simple practices are actually methods for avoiding the most common cash flow siphons.
The first rule tends to minimize vacancies and deadbeat tenants.
The second guideline is derived from proven statistics that show online payers are more punctual with their payments—and less likely to resent the emotional toll extracted by writing out those big checks by hand.
The third capitalizes on basic human nature. Even the best tenants can “forget to change the air filters or clean out the dryer trap”—or any number of other routine tasks that homeowners know will prevent expensive breakdowns.
Becoming a successful Bethany Beach, DE landlord may not be quite as simple as just following Miller’s rules—but the three do embody the kind of cut-to-the-chase mindset that seems to go with profitability in any business endeavor. And right now, Bethany Beach, DE’s opportunities are here and waiting—call me for a look! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.