Listing Courtesy of HOME FINDERS REAL ESTATE CO.
Last week, those of us who were out and about during the increasingly short daylight hours could take in what looked like the regular number of Rehoboth Beachhomes decked out with the familiar Christmastime paraphernalia. When the weather cooperates, it can’t help but bring a smile to your face to spot the reindeer, Santas, giant candles, elves, menorahs—all the elements that help bring home the familiar feelings the season seldom fails to muster.
I bet it’s just that—the sheer familiarity—that explains a large part of why the magic of Christmas is no exaggeration. Sooner or later we feel it. It grabs us. It’s Christmastime again!
This usually starts (for me at least) with a valiant attempt to reject reality. Sometime between Halloween and Thanksgiving, with the first department store ad or the first notes of a carol playing somewhere in the distance, we think “OH NO! – NOT ALREADY!!!” This is the part when the ‘magic’ part of Christmas is nowhere in prospect. The whole concept is at its most materialistic (the ‘material’ being that we haven’t started serious Christmas shopping, are too busy to even think about it, can’t recall whether the turkey pan was wrecked when last year’s gravy got burnt, etc. etc. etc.).
Immediately thereafter, in a truly magical disappearing-of-time act, it’s suddenly a couple of weeks before the big day, when all the preparations had better have been set into motion. It’s already holiday running-around time. This is when we are out and about, and can take in all the Sussex County homes belonging to Rehoboth Beachhomeowners who have the organizational skills that allowed them to erect the reindeer, Santas, giant candles, elves, menorahs, etc. It’s also the time of year when we may begin to experience some of the true magic of Christmas…especially if our running-around to get ready happens at night, when the Christmas lights are ablaze…
For some of us, there is something about those area homes decked out in lights, and the ornaments, and the carols, eggnog, cookies, turkey. Even the fruitcake. It’s the familiarity of the way all the trappings combine to bring back memories: images of our kids’ Christmases, or our parents, or dearest friends…and finally, of our own childhood.
In spite of all the running around, sooner or later, this most special, set-aside top of the year puts us in mind of how very much we treasure the ones who are dearest to us. If we’re lucky enough to have them gathered close, it’s pretty wonderful. If this year, that can’t happen—the memories will have to provide the magic. Sooner or later they usually do.
Whether this Yuletide brings you Christmas or Hanukkah gatherings (or both!), here’s wishing you and yours the happiest, most joyful of holiday celebrations—the kind that create future Christmas magic! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
Built into the way an Rehoboth Beach home changes ownership is the institution of the appraisal report—the document which attempts to place a dollar value on the property in question. That word “attempts” is the key when it comes to appraisals. Although it would make life easier if Rehoboth Beach appraisals consisted of completely objective, scientifically verifiable calculations, in the real world, they can’t be.
Rehoboth Beach appraisals are created by locating comparable properties that have sold recently on the open market, then adjusting that dollar amount to reflect the differences between them. That’s where perfect objectivity becomes…um…subject to interpretation.
If only any two homes were exactly the same in every detail, the latest price paid for one would be the best appraised value for the other. But even in the best case—say, two tract homes built at the same time with exactly the same features—their appraised values probably wouldn’t be exactly the same. After all, they can’t occupy the same plots, and one location might be preferable. They might not have the same maintenance history, so one might be in better condition than the other. The landscaping could differ greatly…and so on.
This is the reason why adjustments need to be made—and why the skill of the appraiser is so important. (I’m tempted to say that’s why appraisers get the big bucks; but in fact, our Rehoboth Beach appraisers’ fees are actually quite reasonable). Details on how they go about finding fair value for those adjustments is the subject of a recently revived investigation done by CoreLogic’s Jon Wierks. For anyone who finds themselves relying on local appraisals to validate an asking price (or the home loan that will allow a sale to close), the report makes for interesting reading.
The focus of the piece was to elaborate on which adjustments are most influential in creating appraisals. By analyzing more than a million sample appraisals made between 2012 and 2015, the study determined which features had the greatest impact on the resulting evaluations. They disregarded any feature that didn’t appear on at least 10% of the reports—and came up with the most important features. If this were the Oscars, we’d now say, “the envelope, please”:
Most frequently adjusted: LIVING AREA (no surprise here; square footage almost always differs).
Runner-up: ROOMS (that is, the number of bedrooms and bathrooms).
Greatest value adjustment: QUALITY RATING (the average adjustment came in at a not inconsiderable $15,000!).
Runner-up: OVERALL CONDITION.
These findings underline truly how important the skill and experience of the appraiser turns out to be, since the greatest dollar amount impact depends on the more subjective criteria. That’s even before taking into account that three free-form factors appeared in more than 10% of the appraisals. These miscellaneous factors, given the mysterious names “Other1, Other2, and Other3,” reinforce how unclassifiable are the differences between most properties and their closest comparable neighbors.
When it comes to Rehoboth Beach real estate, I aid in every aspect of the process. I hope you’ll think of me (and definitely give me a call!) when the time to buy or sell approaches. Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.