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Your Home Has To Be Sold 5 Times

Saturday, January 28, 2012
by Audrey and Frank Serio, CRS

 

In a real estate market like the one we find ourselves it takes more than just to have a buyer come by and purchase your home.  Your home needs to be sold five times before it actually transfers to the new buyer.  Here is why I say that;

 

  1.  Sold to the potential buyer while searching online.  91% of buyer’s today begin their search online.  The buyer searches online not to find the new home but to eliminate those they do not like.  If your home does not have a good online presence with a virtual tour and multiple pictures you may not get a showing to that buyer and your home will be eliminated from their search.
  2. Sold to the local agents.  When times are tough the local agents know where the best buys are and they will be quick to show them to a buyer client.  Therefore is your home is not positioned well on the market against the competing properties the local agents may not include your home in the buyer’s search.
  3. Sold to a Buyer.  Once the buyer finds the home online and is favorably impressed enough to see the home and the local agent believes it to be a good buy you home needs to shine in comparison to the competition so that the Buyer wants to buy it.  The home must show well, free of clutter and priced in front of the competing properties to make it a good value and buy.
  4. Sold to the lender.  Now that a contract is written and the Buyer has found a home they want to purchase the lender becomes extremely important and the Buyer must be ready to show that they can afford the home and that the home is good collateral for the loan.
  5. Sold to the appraiser.  The lender will get an appraisal to make sure that they are making a good decision and they have to be sold on the value when making their report.  A good real estate agent can assist in selling the appraiser on the value by having good comparables to help build value and support the purchase price.

 

As you can see it takes more to sell a home than just having it on the market.  If you have any questions on getting your home sold in today’s market please feel free to contact us at frank@theserios.com or visit our website, www.TheSerios.com.

 

Audrey & Frank Serio, CRS

REMAX By The Sea

Bethany Beach DE

Serving the Quiet Resorts of Delaware for over 26 years!

Bethany Beach • Fenwick Island • Rehoboth Beach

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State of the Beach Address 2012

Tuesday, January 10, 2012
by Audrey and Frank Serio, CRS

                

The 2012 outlook for the real estate sector is not significantly different from the previous outlooks.  The term “elusive clarity” was used two years ago when we had no visibility on fundamentals. Fundamentals stabilized and slowly continued to improve, but the view on potential interest rates moves was then murky. Mr. Bernanke came to the rescue, signaling to the market that rates would remain low for an extended period. And yet, we still find ourselves talking about elusive clarity, now on global macro challenges: a highly-charged election year with the backdrop of stable (albeit tepid) economic growth and job creation in the U.S., the European debt crisis (tune in tomorrow for the continuing saga), and of course, sputtering global economic growth.

 

So long as such significant uncertainty continues, we see:

1. Broader market volatility persisting as our “new normal”

2. Investors remaining focused on capital preservation, staying invested in cash (despite barely-there yield) and trading around already-invested positions rather than investing thematically and possibly taking on more risk.

 

The 5 year analysis of the Sussex County beach real estate market shows the number of units sold is down 13.03% or 1334 units sold from the 1534 units sold in 2007.

 

In the Bethany Beach, Ocean View and Fenwick Island west of the canal areas there was a 5% increase of the number of listings put on the market and an increase of 3% in the number of listings sold.  That being said, the average List Price was down 1%, and the average Sale Price was down 10% to an average of $300,766

 

The beach areas of Bethany Beach and Fenwick Island saw a drop in listings put on the market of 8% for a total of 255 and a drop in number of units sold down 4% to 114.  The average List Price of New Listings was down 11% to $973,454 and on the bright side the average Sales Price was up 35% to $984,597.

 

Current inventory is still high in relation to the number of homes being absorbed by the current buyers.

 

For more information please contact Audrey & Frank Serio, CRS at REMAX By The Sea in Bethany Beach Delaware serving the Delaware beaches of Bethany and Fenwick Island for over 25 years.

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Photo of Audrey and Frank Serio, CRS Real Estate
Audrey and Frank Serio, CRS
The Serio Team of Monument Sotheby's Realty Coastal Division
26 N. Pennsylvania Ave
Bethany Beach DE 19930
Direct: 302.236.4277
Office: 302-539.1033
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