News Flashes Confirm Broadening Rental Market
The past weeks have provided some news that could lift the outlook of Laurel, DE landlords and those who’ve been thinking about rental real estate as an investment. The reports surfaced from statistics compiled by the Census Bureau and by rentcafe.com—an internet company that tracks the current U.S. rental market. Both pieces of information shed light on the makeup of the renter population. It’s broadening in ways that can’t help but boost the prospects for the rental market as a whole.
The first encouraging information was last month’s finding that the percentage of high-income households opting to become renters increased 175% over the past decade. The number of households earning $150,000 or more who decided to become renters swelled by 1,350,000.
The statistics were culled from Census Bureau data for the years between 2007 and 2017. It confirmed that the segment of the renter population consisting of top earners was growing at a faster clip than any other income bracket. Theories to explain the trend ranged from the lifestyle preferences of newly prosperous millennials to echoes of the post housing crisis mentality. Whatever the reason, it should come as welcome trend for Laurel, DE landlords whose investments are in higher-end rental properties.
Added to this came last week’s finding that the same decade saw another increase—this time in the number of older residents who are renting their homes. Although the market is still dominated by renters in their 20s and early 30s, the number of renter households aged 60 and older grew disproportionately. According to rentcafe.com, that segment “jumped from 6.5 million to 9.4 million”—an increase of 43%. Real estate trade journal Inman News characterized the number of older renters as “skyrocketing.”
The combined findings add evidence to the broadening popularity of renting across all age ranges and income groups. For Laurel, DE investors weighing the merits of diversifying their portfolios by adding rental properties, it came as further indication of a market that looks to be gathering steam. If you would like to investigate some local properties that could benefit from the trend, I hope you will give me a call! 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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- Written by Jimmie Bachand
Laurel, DE Listings Might Reflect a New Phenomenon
Overall, the U.S. residential market has behaved itself predictably for a couple of years. As a result, there’s been little chance for commentators to point out any new phenomena that might affect our own Laurel, DE listings. In general, price growth has remained moderate while the volume of homes changing hands has been relatively quiet.
That might be headed for a change if CNBC’s Diana Oleck is right. In a brief report last week, she made the case for a new trend that could have an effect on the home-selling picture—including the number of our own Laurel, DE listings.
The trend is an uptick in one choice seniors are making—in this case, the tendency of retirees to stay put in their current home. “Why seniors ‘aging in place’ is affecting home sales” was the report’s headline. It pointed to an emerging housing trend which has older Americans eschewing the urge to downsize or move to retirement communities, instead choosing to stick it out in their current homes.
That’s a trend that “would remove 1,600,000 homes from the housing market” according to government-sponsored Freddie Mac. That would equal the total number of housing units constructed yearly. If that estimate proves to be valid, it could indeed affect the volume of new Laurel, DE listings we might expect to see in coming years.
The reasons retirement-aged homeowners might choose not to move are the traditional ones: they love their home, which is probably their chief investment—and they prefer to remain in the community they know and love. There’s another reason in 2019, too: it’s increasingly difficult to find affordable alternatives.
Closer to home, this month’s Laurel, DE listings do include properties that today’s low home loans make decidedly affordable. Give me a call! 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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- Written by Jimmie Bachand
Have Laurel, DE Households Ditched Theaters for Media Rooms?
On Friday, the Wall Street Journal’s “Homes” section led with a splashy layout about media rooms. Laurel, DE real estate veterans would probably nod at the article’s historical account that “there was a time” when high-end homes demonstrated their media bona fides through well-appointed home theaters. Many did tend to be “found in the basement,” did often have fabric walls for soundproofing, and sometimes added a Godfather or Batman poster to burnish the experience. Some Laurel, DE households even included popcorn machines.
The balance of the piece (“The New Mansion Must: A Media Room”) dealt with today’s version of the home theater: “the media room.” Instead of the front-facing padded theater seats, today’s examples more often feature “cozy couches, table and chairs” arranged to facilitate TV and movie watching. The Journal contrasted yesterday’s setup—which frequently had home theatergoers immersed in a dark room on a level away from the rest of the household—with today’s more convenient version, situated at the center of home life.
The shift has been made possible by more compact technology. Instead of having to rely on a big screen projector or one of the gargantuan rear-projection TVs, we have our ubiquitous flat-screen TVs. If you’ve seen any of the newer ones, the image quality can be breath-taking. Almost “3-D”-looking. And somehow the engineers have devised ways to manufacture screens that show in regular room light. In fact, the article includes a shot of a flat-screen that’s clearly visible despite being adjacent to a sliding glass door in full daylight.
Although the thrust of the piece deals with how today’s millionaire mansion owners divide their time between 103-inch TV screens “recessed into the wall” and as many as 30 other digital display devices scattered about the grounds, most of the discussion is quite relatable to Laurel, DE homeowners of more modest means. In fact, speaking for the majority of my home selling clients, it’s increasingly hard to find any today who haven’t succeeded in integrating a generous-sized flat-screen into their everyday household arrangement.
In fact, for most of Laurel, DE ’s non-billionaire homeowners, I think we could do better in naming today’s home theaters than the Journal’s “media room.” I’d call them something like “the living room.”
Today’s prospective homebuyers do increasingly think about media, wifi-readiness, cable availability, etc. Staying abreast of their shifting preferences is part of my job. Call me! 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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- Written by Jimmie Bachand
Laurel Property Search: Anything but a Passive Exercise
For anyone who has never participated in a serious house-hunting effort, their mental image of how the experience will unfold may be a little off. They might imagine that, after narrowing down their requirements for a Laurel home (size, price range, and the like) they will agree on a day and time, then just climb into their Laurel agent’s car and settle back to have the likely prospect properties exposed before them.
In fact, the house-hunting procedure is almost like that, except for one major detail:
A property search is a participation sport!
Experienced Laurel property searchers have learned to husband their energy on any day that includes home showings. Especially when their property search doesn’t immediately yield a find that fits their target criteria, they know that it may take a while—and more than a few house-hunting outings—before they identify a suitable house.
What takes so much energy? Sophisticated home buyers know that every showing holds the possibility that they could be setting foot in what might just become their future home. Every showing is literally the only time they will ever have a valid ‘first impression’ of the place that might become a major purchase. And each of those first impressions often come as part of a day that includes multiple showings—one that can easily result in a jumble of impressions, where homes with similar features are easily confused in memory. Since second and subsequent showings should be reserved for properties that qualify as serious contenders, wasted time and effort (not to mention inconvenience to the homeowners) can be avoided by alert, sharp-eyed property searchers. It takes stamina!
That’s why more experienced prospects know from the outset that a home showing isn’t a passive experience. It’s not a bad idea to have a pen handy for jotting notes on the listing sheets the Laurel agent provides—notes about distinguishing features (good and bad!) that will help with comparisons at the end of the day.
For those who are veterans of previous property searches, this is old news: they remember reviewing sessions that include, “No – that was the one with the bay windows, not the one with the [fill in the blank].” For first-timers, it’s good to know in advance: a property search is a participation sport. And you’re the team captain!
If you are about to embark on the search for a Laurel property, or have one that’s soon to be listed, do give me a call. Properly arranging efficient home tours is only part of my track record of helping successful home sales happen! 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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- Written by Russell Stucki
