Successful Delaware Showings also Involve an Illusion
Showings—whether here in Delaware or anywhere else—can succeed or fail as a result of quite minor details. Appreciating that fact isn’t hard to do when you relate showings to their theatrical first cousins: stage presentations. In important ways, they are quite similar.
Think of what happens when you attend a live play. The audience finds their seats, settle in, and wait for the action to begin. The house lights dim, the stage lights brighten, and the action begins. If all goes without a hitch, the play captures your attention—and it has every chance of successfully casting the spell the author and director intended.
But if one element is jarringly out of place, the whole effort will go kablooey! If a stagehand accidentally wanders onstage, the illusion is wrecked. Likewise, if a drama’s agonizing death scene is perfectly portrayed—up until the moment when the dying actor’s mustache begins to slip—the audience will be hard pressed to stifle giggles.
In a different way, the success of Delaware showings is subject to similar kinds of missteps. The illusion we are after isn’t that of a home that has desirable features and is in great condition—that’s no illusion: it’s real! The illusion part comes when we create the impression that the current owners are not much in residence; that the home—although it may be furnished—presents itself in a neutral kind of way that seems to be awaiting the new owners’ belongings and personal touches.
Showings tend to be most successful if prospective buyers have no trouble envisioning themselves as the comfortable new owners. They may or may not find that the spaces and features will accommodate their family’s needs—that’s not subject to illusion. But showings have the best chance for success if the “stage” is clear of distracting elements. That’s why evidence of pets should be avoided. Strong odors of any kind, likewise (fresh popcorn or newly-baked chocolate chip cookies are prized because they supersede other aromas). Family photos should be removed if at all possible; personal mementos of all kinds stored out of sight, and so forth.
When you appreciate the reasoning behind a showing’s attempted illusion, you can see why most Realtors® advise against decor schemes featuring strong colors. It is also why it’s a good idea for owners to safely vacate the premises with a few minutes to spare. It’s not because the owner is objectionable—it’s that the presence of the owner counteracts the illusion.
The funny thing is that the “illusion” is actually an authentic projection: it’s a mock-up of the reality that will come to pass if the prospect does decide to become the home’s owner.
Showings are key parts of a coordinated residential sales effort that begins with the first consultation and continues through closing day. I hope you will remember to call me when you decide it’s time to put your own Delaware property on the market! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com.
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Post-Recession Listings Favor Practical Features
Just as with movie credits, the features you find in Greenwood listings have a “billing order.” The “stars” may not be printed in gigantic superstar type—but the order in which they appear do reflect changes in current buyer priorities. For a homeowner soon to add their property to this summer’s Greenwood listings, it’s important to learn which features currently tend to attract the most favorable attention from prospective buyers. It’s of more than marketing interest, as well: knowing what’s in and what out can also help determine where improvement dollars should go.
The question is, which features are most desirable, and which formerly popular features have become passé: “so Twentieth Century!”
New answers to these questions usually appear a couple of times a year—and 2015 is no exception. The latest one I found was on the Realtor.com website. It went into recent history, describing in detail how listings’ features for newly-built homes have been undergoing rapid change over the past few years. In general (and probably as a reaction to the difficult economic times that only lately have seen improvement), over-the-top luxury details are fading, being replaced in favor of features centered on efficiency, organization, and pragmatism.
Examples of the kinds of details less likely to be found in today’s listings are two-story foyers, master bathrooms with whirlpool tubs, and luxurious details like outdoor kitchens. (“NOPE” in capital letters is shown stenciled over a picture of one of those outdoor kitchens…which, I have to admit, really does look like it belongs in a hotel). Whereas ten years ago, those outdoor kitchens with fancy wine racks might have been found near the top of a listing, today it might be replaced by ‘walk-in closets’ or even, simply, a ‘laundry room.’
“It’s not sexy,” says one industry executive, “but that’s what people want.”
The most extensive survey of home builder trends is conducted by their national association, the NAHB. By quizzing nearly 400 builders, they concluded that other features on the decline include outdoor fireplaces, sunrooms, and media rooms. Taking their places (and likely candidates for what we’ll soon see creeping toward the tops of some of our Greenwood listings) are the walk-in closets (since people want to get out the door efficiently first thing in the morning) and well-organized and well-lit laundry rooms (to improve the efficiency of the household).
As part of a “post-recession cultural shift toward pragmatism,” this makes perfect sense. But that word “post-recession” may offer a clue to what could be the temporary nature of the NAHB’s 2015 findings. For example, granite countertops—once a ‘luxury’ item in Greenwood listings—are now more popular than the laminate alternatives. And those supposedly unpopular media rooms are not vanishing totally. They’re simply being replaced by spaces that are “more flexible.”
If you’re soon to be scrutinizing your own home to determine which of its best features to emphasize, I’d be pleased to furnish an opinion—it will be based on the results we’re seeing from today’s Greenwood listings! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestate.com.
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Neglected Residential Option: Greenwood Multi-Family Housing
Greenwood multi-family housing is the umbrella term covering all the various kinds of residences that shelter more than one family. Everything from duplexes and homes with guest cottages to apartment complexes fall into the category, which is most often thought of in terms of the solid investment potential it represents.
While Greenwood multi-family housing offers all of the same investment potential and more (the economies of scale can give an apartment building listing, for instance, many times the profit potential of a single family rental), a multi-family residence can also be the pathway to homeownership for a first-time home buyer. You might not think so, but when a prospective buyer will also be resident, standard financing guidelines—even for FHA loans—may apply. The lending particulars vary by a given Greenwood property’s specifics—among other factors, whether or not cash flow-producing tenants are already in place. But the assumption that the higher mortgage amounts associated with multi-family housing opportunities automatically puts them out of reach ain’t (as the song says) necessarily so!
The NAR® finds that some 38% of residences are purchased by first-time buyers—yet it’s a safe bet that most of them would never consider that purchasing multi-family homes could be a great way to own their first home (and even generate some extra income at the same time). To begin to examine this as a possibility, some basic research into some of the key elements of multi-family financing is a logical preliminary step.
· Down Payment Options
Today’s loan requirements may be seeing some degree of easing, but most Greenwood multi-family homes listings carry bigger down payments than single residences. Even so, some FHA loans for a one- to four-unit home require just a 3.5% down payment. A variety of other loan programs emphasizing affordable down payment options may also apply.
· Cash Reserves Requirements
Some traditional lenders have no specific cash reserve requirements, while the FHA has defined guidelines. For one- or two-unit properties, buyers must have one month’s worth of reserves (cash left after closing). For three- to four-unit homes, the requirement is for three months of reserves.
· Debt-to-Income Ratio
Lenders evaluate debt-to-income ratios to include other monthly debt payments as well as the anticipated mortgage payment. They weigh that against gross monthly income…and, needless to say, lenders who include a high percentage of projected rental income will be more likely to find a loan viable.
Whether you are a first-time or veteran home buyer, considering Greenwood's multi-family housing listings is an idea that may be worth pursuing. Give me a call to discuss how one of today’s prime offerings might fit into your future! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestate.com.
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Greenwood House for Sale Builds Appeal with Astute Improvements
Trying to ferret out which features home buyers value most is no simple matter, even though that’s of particular importance when you have a Greenwood house for sale. Updated kitchens and bathrooms are always near the top of the ‘most desired’ features compilations; and I’d put ample storage right there with them. It may not come to mind when you ask prospects what they value the most, because it’s a “feature” that’s so much an integral part of a home’s design—but a house for sale with small closets and few drawers is still likely to register with buyers as somehow “smaller” than others with the same square footage.
According to the National Association of Home Builders, updated cabinets and counters may catch a buyer’s eye, but other less expensive improvements are may serve the same purpose. The top three features home buyers from all walks of life want in a kitchen are double sinks, room for a table, and a walk-in pantry. That doesn’t mean tearing out walls or reconfiguring the whole kitchen—but it can call for seeing if a similar effect can be achieved within a sensible budget. If you don’t have room to create a walk-in pantry, see if there is room for a stand-alone pantry cabinet. If you will be updating the kitchen sink and fixtures anyway, consider a deeper-welled model. Any improvements that add extra ‘roominess’ to the kitchen will register with many prospective buyers.
The NAHB has more findings that should interest anyone with a Greenwood house for sale. Buyers increasingly favor environmentally friendly homes, for instance—but…they don’t want to pay extra for those ‘green’ features. On the other hand, they are willing to pay more for a home that’s energy efficient. If you have already determined that new appliances will be needed anyway, installing those with high Energy Star ratings is a definite recommendation. Likewise, if window replacements are also in the cards, new energy-efficient windows are worth considering. Today’s buyers are more aware of details like windows constructed with triple-pane glass. It’s common knowledge that those favorable Energy Star ratings mean decades of lower utility bills.
One low-cost way homeowners with an Greenwood house for sale can capitalize on buyers’ safety concerns is by installing some exterior lighting. It’s a feature rated as “essential” or “desirable” by 80% of buyers in one study. Addressing the same issue: security systems. When a house for sale features a wireless home security system in its listing, even buyers whose safety concerns are less than top-of-mind will take note.
Before making any improvements, it’s only sensible to have a discussion with your Greenwood Realtor®. Even before you’re fully committed to putting your Greenwood house up for sale, I’m ready to offer a no-obligation assessment of your home and how to best take advantage of today’s active market!
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