South Bethany, DE’s Spring Busy Season — a Nuclear Reaction of Sorts
For those who have never bought or sold a home during South Bethany, DE real estate’s busy season, coming up with metaphors isn’t easy.
It’s not like end-of-model-year auto sales because that season draws buyers by offering heavy discounts. Newly manufactured real estate isn’t arriving from the factory, so price reductions aren’t called for.
Real estate’s high season isn’t like a nursery’s or hot tub dealer’s peak seasons, either—even though both get busier around the same time of year. The pricetags for South Bethany, DE real estate transactions make such comparisons ill-suited—apt metaphors would have to be more momentous.
It might be more fitting to turn to nature or to science for a suitable analogy. If so, you could argue that South Bethany, DE’s spring and summer real estate season is like a nuclear reaction! Sure, that sounds a little far-fetched—but why not? In a nuclear reaction, two elements are abruptly brought together to release a burst of energy that powers our households. (Admittedly, that description leaves out a few details—but let’s not split atoms).
For any doubting South Bethany, DE Thomases, here’s the similarity:
During the South Bethany, DE real estate peak selling season, two kinds of real estate participants—buyers and sellers—are suddenly brought together to release a burst of activity that also produces something extremely useful. In scientific notation:
Peak real estate season=a new home for buyers + a successful sale for sellers.
It is probably a good idea to avoid teasing out any further dubious metaphoric details lest those who truly understand actual nuclear science begin a slow boil. So let’s not compare hyperactive uranium electrons to highly motivated house-hunters or anything like that. Suffice it to say that for a nuclear reaction to work, everything has to be just so—exactly like the weather in South Bethany, DE’s real estate busy season!
- Written by Jimmie Bachand
Debate Rages Over Dormant Inflation and South Bethany, DE Real Estate
Last week’s Economic Report from MarketWatch was pretty close to the editorial equivalent of a helpless shrug. On the newly reopened topic of future inflation—a subject bound to have a considerable impact on the shape of South Bethany, DE’s real estate market in coming years—MW’s headline perfectly captures the uncertainty plaguing predictions on the subject:
“Rising inflation is no threat to the U.S. economy — or is it?”
For some buyers weighing whether to purchase a home this season or to hold off, the connection between inflation and mortgage rates—and, therefore, the course of consumer affordability—is a factor worth considering. The weekend’s passage of another bout of fiscal stimulus was only one reason to suspect that ripples from the momentous events underway could sooner or later affect everyone in ways hard to predict. Typical was MarketWatch’s opening observation: “More fiscal stimulus could stoke inflation,” it began boldly—before adding, “some say.”
Less ambivalent was their take on the novel circumstances which make definitive forecasting particularly unreliable. “What worries some investors and big thinkers,” they wrote, “is what happens once the economy recovers and demand returns to normal.”
In fact, the “big thinkers” had justifiable grounds for offering opposing pronouncements. Former Treasury Secretary Lawrence Summers made headlines last week with an Op-Ed raising the fearsome possibility of “…inflationary pressures of a kind we have not seen in a generation.” The calamitous mortgage interest rates of the early 1980s (they soared to more than 16% in 1981) did eventually tame runaway inflation—but also cut real estate commerce by 50%.
On the other hand, the threat of an inflationary runup has many convincing naysayers. They point to the recent demonstration of how the coronavirus pandemic drove the rate of inflation to near zero since “it’s hard to generate inflationary pressures in a slack economy.” The coming release of the latest Consumer Price Index, due on Wednesday, is expected to register current inflation at the “still-low rate of 1.5% or so.”
- Written by Jimmie Bachand
Spotting Buyer Preference Shifts Over Time
When you’ve been in the same home for quite some time, selling your South Bethany, DE house to today’s buyers probably means studying market preferences that differ somewhat from those that were current the last time. If you check up on the Top Ten lists of features buyers value, you find that what people say they will pay a premium for does, indeed, change.
You can trace more specific examples of this phenomenon by downloading Top Ten lists from different eras to see how they differ. Here are two such lists, side-by-side, which make for interesting comparisons.
The first is from a USA Today list of “Features Buyers Will Pay Extra For” produced in 2013…the second (the column on the right) is last year’s Fool.com “Top Features Homebuyers are Looking for.” They’re shown in reverse order, least- to most-popular:
10. one or more fireplaces 10. (fool.com only listed 9)
9. eat-in kitchen 9. separate laundry room
8. home less than 5 years old 8. lots of windows and light
7. stainless steel appliances 7. a basement
6. ensuite master bath 6. a family room
5. hardwood floors 5. fenced yard
4. granite countertops 4. eat-in kitchen
3. walk-in closet in master bedroom 3. a garage
2. new kitchen appliances 2. hardwood floors
1. central air conditioner 1. air conditioning
If you plan on selling your South Bethany, DE house this year, this presentation is far from the last word on South Bethany, DE buyer preferences—but the fact that Number One is the only entry that hasn’t changed is interesting. “Eat-in kitchens” remains on the list, but at a higher preference—as is “hardwood floors.”
- Written by Jimmie Bachand
South Bethany, DE Resale Values: Location, Location, Location Variations
As it relates to South Bethany, DE residential properties, the “location, location, location” homily is usually thought of as referring to neighborhoods. Homes in superior South Bethany, DE neighborhoods are visibly well cared for, usually have larger footprints, appealing architecture, etc. Their higher resale values are self-sustaining because their buyers can afford attentive maintenance.
But the locationX3 adage can also be valid for how a property is sited. South Bethany, DE listings that read like absolute steals online can sometimes prove the point (one that remote buyers without local representation can learn to regret).
A fabulous home situated in the wrong place can be a mistake waiting to happen.
1. An otherwise exceptional South Bethany, DE home sited on a busy thoroughfare (AKA, a “double yellow line value killer”) doesn’t lose appeal simply because of road noise or the hassle of getting in and out of the driveway—there is also prospective buyers’ apprehension about what will happen when it’s time to resell. The same home on a cul-de-sac automatically commands a higher price and swifter resale.
2. The value impact of a major road within sight is a matter of degree. A faraway freeway can be value-neutral, especially if the nighttime view of streams of head- and taillights can be viewed as sparkling, jewel-like ribbons of color. But too close by—especially within earshot—buyers are more likely to find it off-putting.
3. Longtime South Bethany, DE residents may remember when a corner lot was the preferred neighborhood configuration, but that assessment has been declining for years—partially because corner lots create greater side yards and smaller backyards, and partially because they create twice as much street exposure.
4. A nearby airport can be promoted as a major convenience for frequent travelers—but one that’s close enough to constitute ear pollution can have the exact opposite impact.
5. More equivocal are homes located on a dirt road. Sure, the car will get dirty—that and the possibility of wintertime travails can be negatives. But, depending on the property and neighborhood (and the buyer’s mindset), the same factor can also be seen as emblematic of an appealing lifestyle choice.
- Written by Jimmie Bachand