Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
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.
When a Rehoboth Beach home seller tallies the total financial impact of selling the old and then buying the new home, in addition to the closing and brokerage costs, the expense of the move has to be reckoned, too. It may seem like an afterthought, but especially for larger homes and families, it’s a cost significant enough that it bears some economy-minded preparations.
Although doing the lion’s share yourself is the surest way to bring that price tag down, it will also add a load to an occasion that’s already stressful enough. “Moving day” can prod your already surging emotional stress meter further into the red if you are trying to do everything yourself (or relying on friends to carry more of the load than is healthy for the relationships). Since this is such a common hurdle, a good deal of wisdom has developed that can keep potential Rehoboth Beach moving day misery to a minimum. Here’s a collection of useful tips:
1) Gather ye boxes while ye may…far ahead of time. Yes, you can certainly buy them—and probably should for special types like wardrobes and glassware—but since you know you’ll be moving once the Rehoboth Beach house has been sold and the new place is ready to move into, make a point of holding onto all the clean cartons you come across leading up to the big day. Once you’re sure you have gathered enough, pinch yourself (and get back to gathering more). Somehow you always need many more than you imagine possible!
2) Cut cut cut. Long before you approach moving day, get serious about all the stuff you don’t need any more and yard sale (it’s a verb) it, Salvation Army it (ditto), give it away, or just toss it out. If you are going to use professional movers, cutting down the size of the move will be worth its weight in…well—let’s just say it will be worth it!
3) Dismantle ahead of time. When the movers arrive, a great chunk of their time (and thus, their bill) can be spent taking things apart for safe transport. You can do this ahead of time with a pen and some masking tape, a wrench, pair of pliers, and some Ziploc bags. The bags are for the nuts, bolts, screws, and other fasteners. The masking tape and pen are to label the bags and tape them to larger pieces—you’ll thank yourself at the other end, when it’s time to reassemble everything.
4) Collect all receipts. Whether you pay movers or rent a van or trailer yourself, remember that moving expenses may be tax deductible. If you get a new job that’s more than 50 miles from your previous home within a year, it probably qualifies.
5) Time your move. The major stampede for movers happens during the high volume times of year (spring and summer) and especially at the end of the month. Planning to move any other time (like right about now, for instance) will make it that much more likely one of our Rehoboth Beach movers will be able to give you a deal. And get a firm price guarantee whenever you can; estimates based on hourly rates can take a lot longer than expected!
Picking up stakes and leaving a long-time Rehoboth Beach home (or moving to your new Rehoboth Beach home) is a major life experience you’ll want to remember as the delightful opening of new doors instead of a harrowing misadventure. A little planning ahead of time helps that happen. Part of what I offer my clients is the experience of having shared many ‘moving’ experiences. Call me when one is on your horizon! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.