Listing Courtesy of JACK LINGO REHOBOTH
As soon as you decide that you will be putting your Lewes property up for sale—whether soon or at some point in the foreseeable future—it’s also time to get strategic about growing your property's value—starting with a generous dollop of objectivity.
The difficulty stems from a truth about how everybody perceives much of their property’s value. We escape from hurly-burly of daily living by retreating to the comfortable confines of our home—our place. A good part of its value to us and to our family is its sheer familiarity—the “hominess” that makes it our personal haven. But some of the very things that make it so comfortable to us will be off-putting to outsiders—and they are the prospective buyers.
Our great leather easy chair (the dark brown one that’s gotten a few shades lighter where we sit, and a little off-color where the spills happened) may look a bit peaked to the untrained eye, but it’s been that way for years: who cares? The back door needs to be bolted to stay shut…we do that without even thinking about it—hardly an issue! The sofa may sag, but it sags exactly right (for us)! The bathroom window that’s sort of stuck (okay, maybe it’s painted shut)…etc. etc. etc.
Professionals are of one voice about the real value you add to a property when you go to the trouble of systematically depersonalizing it. It helps to approach doing that seriously and deliberately—to tackle it in an organized manner. There are any number of ways to go about that, but here is one way that will pay off:
Make a list. Starting from one end of your Lewes property, note with pencil and paper every nit-picky detail that is other than what you would expect to find if it were a brand new home. This is not as easy as most people assume, because there will be such a great number of details, that
a) it will be very tempting to start skipping some of the minor ones, and
b) you will find it hard to resist the urge to start fixing the easy ones as you go along (don’t do it: you’ll derail the list-making!)
After a decent interval, sit down with the list and re-classify each item into an Easy Self-Fix List and a Professional-Attention-Needed List.
Step 3 Get bids from the appropriate Lewes professional tradespeople, calculate which fit your budget, then schedule the work.
Step 4 Get started on your own endeavors to address the Easy Self-Fix List. You’ll be able to organize your own efforts to finish up about two weeks after the last of the tradespeople are scheduled to finish their projects (a two week grace period is realistic: you are aiming to finish everything about the same time).
Following these four steps will put you well on your way to increasing the value of your Lewes property. And at any point in the process—from before Step 1 to the satisfying moment that closes Step 4—give me a call to discuss how to convert all that increased value into a profitable home sale! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.
Some predictions for New Year 2018 may be controversial, but one trend is beyond question: almost every sector of everyday life in Delaware will continue to be transformed—either incrementally or massively—by automation of one sort or another.
Hordes of self-driving cars and trucks aren’t likely to take over Delaware streets this year, nor will Robocops start patrolling our neighborhoods. But one area that’s being affected more quickly than expected comes in the realm of Delaware real estate appraisals.
Needless to say, since Delaware appraisals establish the collateral value of any piece of real estate, that’s a change that could affect both Delaware home buyers and sellers. Our human expert appraisers won’t soon to be out of a job, but when it comes right down to it, the semi-governmental duo of Freddie Mac and Fannie Mae are now beginning to tilt toward accepting a robot’s word for it. As The Washington Post headlined, “Fannie and Freddie say appraisals are not always necessary.”
Without getting too far into the technical ins and outs of home appraisals, Fannie and Freddie have been rolling out versions of ACE (Automated Collateral Evaluation) models for transactions that qualify for certain mortgages. They say it calls on “big data and advanced analytics”—buzzwords that signify machines that promise to be smarter than we are. Since they are able to integrate more than 40 years of historical data, they might have a point.
In practice, a buyer in qualifying transactions is offered the option to purchase a house without having to pony up hundreds of dollars for a human-generated real estate appraisal. If the offer is accepted, an automated evaluation is produced electronically.
The upside is that not only is the appraiser’s fee avoided, but closing times can be reduced by as much as 10 days since the services of Delaware real estate appraisers are always in high demand.
The downside is that the buyer is not afforded the protection that comes with an in-person visit by an experienced Delaware real estate appraiser, whose eyes and ears aren’t duplicated by a data-only approach. As you would expect, the Appraisal Institute takes that view, arguing that Fannie’s and Freddie’s programs “create unnecessary and unacceptable risks for taxpayers and homeowners…”
It’s my job to shepherd you through all the stages of the home buying and selling process—which, in 2018, increasingly involves a rapidly evolving mix of automated and traditional processes. Call me! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.