Lewes’s real estate picture usually differs little from that of the nation as a whole. The latest rumblings from the mass media and web continue to bolster the picture of rising values and quickening activity—a sweet story with nary a sour note. In fact the unanimity of voices from almost every corner of the country is a story in itself. There was just one exception.
Some samplings Lewes readers would have found in the past week’s real estate news and opinion—
- From the Associated Press, we learned that “prices are soaring” in some cities, and that they rose in all 20 cities polled. The pace of existing home sales rose to the “fastest pace since February 2007.”—roughly what might be expected in a healthy housing market. The AP attributed at least some of the reason for the real estate price rises to widespread predictions that the Federal Reserve may start raising short-term interests rates sooner rather than later.
- From Dan Green’s Mortgage Reports, the home value increase was illustrated in a multi-colored chart, which showed sample cities’ rises at anywhere from 1%-11%—with most clumped between the 4%-6% lines. Freddie Mac was quoted as pegging the average 30-year mortgage rate at below 4%, with VA and FHA mortgage rates even lower. Their opinion was straightforward: “It’s an inexpensive time to finance a home.” Since historically “mortgage rates average nearer to 8:25%,” that opinion is hardly a stretch!
- Headlines from CoreLogic’s latest Home Price Index Report were “Home Prices Rose by 6.5% Year Over in June 2015” and “HPI Forecast Projects 4.5%” rise for the coming 12 months. CoreLogic’s nationwide real estate numbers are among the most reliable—whereas some of the government numbers sometimes have to admit regular later revisions, it’s not usually the case for them.
- Surprisingly, town observers would have had to go to the National Association of Realtors® site to find what at first sounded like the only sour note to be heard—yet it, too, had a sweet finish. “Pending Home Sales Dip in June” headed the last week’s news release. You had to read the fine print to learn that the pending sales were 8.2% higher than a year before, and that although they dipped slightly from May’s number, they were still the third highest reading in 2015…and marked the tenth consecutive monthly year-over-year increase!
Strengthening real estate prices have continued to bolster a solid summer selling season. If you are interested in exploring the Lewes market as a prospective buyer (or as a seller), the climate continues to be inviting. Good reason to give me a Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
Selling your Lewes home is the kind of major undertaking that has so many facets just deciding where to start can delay liftoff. Since there is no actual “right” place to begin, like other mammoth projects, just digging in anywhere will do. The happy truth is that when you’re selling a home, once momentum gets going, the rest of the pieces tend to fall into place.
To get the ball rolling, here is a pre-sale checklist of major activities that selling your Lewes home will entail. To get started, pick any one:
- Nagging problem elimination. Very few of us attend to every home maintenance problem as they gradually develop. If there were a reliable poll on the subject, I’d guess that 95% of Leweshomeowners have at least a two or three areas that we’ve learned to live with—but which will need to be attended to before we get very far toward selling our home. Identifying them is a pre-sale first step…then fixing them is the action item that transforms the idea of selling your home into reality.
- First impression inspection. Any time you return from an outing you have the opportunity to get started on what will become your marketing approach. Do this by stopping and seeing what kind of first impression your property makes on someone setting eyes on it for the first time. What seems least fresh and appealing? Is it fencing that could use a quick coat of paint? A planter that needs colorful blossoms? The numerals on the mailbox? Selling your home starts with favorable first impressions.
- Lights! Camera! Action! An essential element to get prospective buyers clamoring for a tour is the photography that highlights your Leweslisting. To start preparing for that, pick a room—any room—and stage it: clear it of unneeded objects, furniture, etc. This will entail figuring out where to store the objects that you want to keep, but which clutter up the visual appeal…and once you’ve identified where they will be stored, you’re seriously on your way to selling your home.
- Getting down to business. Educating yourself about the competition means taking a look at this spring’s Lewes listings to get a feel for where the market is. Which comparable homes have just sold, and which haven’t moved for months? Your home may not be ready for market for a while, but the earlier you start familiarizing yourself with today’s Lewes real estate market, you better the odds that your listing price will be right.
- Exit strategy. (My favorite of all) Be prepared to move! Any action you take in this direction, be it checking out reliable moving companies or beginning the hunt for your next house makes selling your home that much less of a long shot.
Each of these is a step that begins to transform the idea of selling your Leweshome from a looming cloud of uncertainty into a doable certainty. I didn’t even mention the easiest and surest pre-sale checklist item. It’s one certain to get the ball rolling:
Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com