Listing Courtesy of BERKSHIRE HATHAWAY HOMESERVICES GALLO-L
That Milton real estate prices have been on the rise for a while is certainly one factor that has coaxed some of the more cautious buyers off the sidelines. It’s made the market a much more lively (and happy!) place than it was a few years ago—and forecasters are fairly uniform in predicting continuing growth, though at a less overheated pace.
For those who are even more cautious, the question remains whether property values and the Delaware real estate prices that reflect them are likely to hold up over the long haul. They may know that, historically, homeownership has proven to be one of the most reliable investments, but the memory of that financial meltdown from a few years back can be hard to get over…
They may be taking heart from an article I ran across earlier which is bound to boost confidence in the future of Milton’s real estate prices. It was in a weekday edition (February 4) of The Wall Street Journal. Stretching all the way across the top of the U.S. News page was this headline: “Homeowners Acquire a Taste for Remodeling,” over the subhead “Projects Pick Up, to the Tune of $130 Billion in 2013, as Property Values and Equity Rebound; Sign of Market Confidence.”
The article had the expected chart and graph supporting the Journal’s optimistic takeaway depicting “Building Momentum.” Too, there was an illuminating quote from Moody’s Analytics. Moody’s reported an 18% leap in home equity lending—further evidence of the strong rise in home values (banks lend against equity, after all). That, WSJ pointed out, is the root of the steep increase in remodeling activity, because when people have confidence in underlying values, they decide it is worth investing in upkeep and improvements.
Its cause and effect—sort of like a domino chain, but in reverse. The first domino picks itself up, attracting the second, and suddenly all the dominos are back upright.
The Journal summed it up: “If home prices are going up and people have more equity in their home, things like remodeling and refurbishment will do well, because it’s effectively the way of playing the reinvestment game.”
For Delaware contractors and tradesmen, this is a game they’re happy to see resume. And for cautious prospective homeowners who’ve been watching from the sidelines, it’s a good reason to give me a call. Milton real estate prices look like they still have a way to go: there are some great bargains out there!
Savvy shoppers; don’t sit on the sidelines, call/text 302-228-7871or 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.
For anyone who has listed their home on the Harbenson market, the equivalent of winning the lottery is a call from your agent telling you that multiple offers are on the way. It’s like hitting the jackpot — especially when the house draws top dollar.
Although the tactics that can trigger such a phone call vary by location and property type, a few overriding concepts put you far ahead in the competition to attract Harbenson's motivatedhomebuyers—
· Build excitement
Harbenson homebuyers are like everyone else: whenever there’s a crowd, natural curiosity prompts us to find out what all the fuss is about. When you list your property a few days before beginning the showing process, you increase the odds of drawing a larger turnout on the first days of showings — or at your well-publicized open house. When homebuyers sense they are being shoehorned into a full schedule, they get the message: this one is hot! In a real estate environment where word-of-mouth can play a key role, it’s smart to actively set up buzz and good press around your property.
· Team with a pro
Nothing prevents you from doing all the legwork yourself — if you have the spare time, that is (and don’t mind wading through reams of property data online, taking all the home buyer calls, working through their schedule changes, etc.). But when you team with a seasoned agent to perform the prep work for you, it frees your time to tend to more important tasks. Too, professionals have experience in screening potential Harbenson homebuyers and encouraging those who are best qualified — ultimately saving you time and expense down the road.
· Spruce it up
As important as any other factor is being able to focus your energy on maintaining your home in impeccable shape. The dollars spent here and there on maintenance can draw ten times as much at closing. Harbenson homebuyers usually have no trouble paying a bit extra for a well-maintained house. When homebuyers are presented with a property in absolutely excellent shape, it communicates long-term value — as well as a solid, trouble-free investment!