Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
It was only a few years ago that the last thing a prospective Rehoboth Beach home buyer had to worry about was being outbid. Those were the days when the bottom seemed to be falling out of the Rehoboth Beach real estate market. Anyone brave enough to be looking to buy at a time when the real estate market was frightening most folks away was not only plucky—they were also alone. Sellers who had to move no matter what found themselves forced to accept offers that they knew were well below their property’s true utilitarian value. The only saving grace was that those same sellers could turn around and buy in their new community at the same kind of crazy discount.
That, as they say, was then—and this is now. As the real estate market in Rehoboth Beach continues to revive, sellers’ mindsets have returned to normal. Knowing that their Rehoboth Beach home is a valuable commodity, they demand offers that are respectable. One national survey found that that buyers are acting quickly on the most sought-after homes, and that overall, median DoMs (Days on Market) fell to 32 in March from 40 just a month earlier.
As the spring selling season heats up, some buyers who find the home of their dreams may also suspect that they aren’t alone. It calls for definitive action—and if it looks as if just making an offer might not win the day, some additional action. For home buyers who have a good idea that they must act decisively or miss out, here are some options for increasing the odds that their offer will be accepted:
One tactic to prevent being outbid is to add an escalation clause to the offer. If allowed, such a provision states if the seller receives another offer, then the buyers are willing to increase their own offer to a set price. For instance, a home buyer who makes an offer of $310,000 might include an escalation clause in increments of $3,000 should a competing offer appears, up to a maximum of $360,000.
Since people have different reasons for selling their home, another tactic is to discover what's important to the seller. Perhaps they have a new job opportunity and need to vacate as quickly as possible. Or maybe they have plenty of time, and are holding out for the maximum price. Your agent may have a good idea what is motivating the sellers so that you can craft your offer around their requirements. If a normal schedule calls for an inspection period of 10 days, but the sellers want to move quickly, they may be motivated by a shorter inspection period.
Usually, home buyers find it prudent to keep the upfront earnest money pledged to a minimum, allowing them more leeway in limiting their loss if they decide to back away from the deal. Increasing the earnest money shows the sellers you are serious about completing the purchase. It also subtly affirms your financial stability. An even more substantial demonstration is to become pre-qualified with a mortgage lender. Unless an all-cash purchase is possible, it’s the best way to guarantee you will be able to act quickly. Even if competitive bidders appear, when you are a pre-qualified buyer, you increase your chances of winning out.
When I’m tapped to act as your buyer’s agent, I become your advance scout and strategic partner as you explore this spring’s exciting Rehoboth Beach real estate market. I hope you’ll give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestate.com
Staging your Delaware home for showings will always be a time-eater. The word itself is indicative: “staging” means transforming your busy household into a theatrical set. In addition to thoroughly cleaning every nook and cranny, it usually means spending on paint and a variety of minor supplies to tweak the production. The actual visits come, by potential home buyers interrupting your schedule (sometimes with very little notice).
If you have kids, keeping the staging in pristine condition must clear an extra hurdle. When the kids spill food on the floor (or leave toys underfoot for potential home buyers to trip over), selling your home can turn into a hand-wringing ordeal. It needn’t be. Here are a few sanity-preserving pointers:
Designate one room for the kids
While it may be impossible to totally prevent kids from being messy, we can keep the youthful chaos quarantined to one room. Designate the place in the house that will be the “kid’s area” so that the cleanup in advance of a showing becomes more manageable.
Keep the show towels separate from the real towels
A successful Delaware staging routine pays special attention to focal points in the kitchen and bathrooms. Both should come as close as possible to a model home’s—which makes it crucial to keep a separate set of unused towels and floor mats to switch in whenever the home is going to be viewed. (There should be no secrets within a family, except maybe for this one: make sure the kids don’t know where you hide the show towels!)
Clear the “stage”
There are many items we keep handy that aren’t essential for day-to-day living. Whether it is unnecessary pieces of furniture or extra boxes full of toys for the children, these things combine to contribute to a sense of cluttered spaces. Stashing as much clutter as possible in a temporary storage unit will make your staging cleanup jobs much easier. It will also contribute to the clean uncluttered appearance home buyers find appealing.
Thinking of selling your home in Delaware this winter? I have a marketing plan for this season’s market ready to go – Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.