Listing Courtesy of Dugre Real Estate Company
If anyone involved in Milton real estate were to try to pick a word to characterize the mortgage industry as a whole, “sentimental” wouldn’t be among them. Especially over the past several years, “frustrated” might be apt, or “hog-tied.” Mortgage issuers been hampered by tough rules developed in reaction to the sub-prime mortgage mess. They certainly wanted to issue more mortgages, if only for their own profitability, but until recently, the lending guidelines made that difficult.
In any case, this is an industry that relies on hard facts and statistics to govern lending decisions. Mortgage industry leaders are therefore not inclined to be overly optimistic, overly pessimistic—nor are they prone to exaggeration in their public pronouncements.
So when the powers-that-be at Fannie Mae come out each quarter with their Mortgage Lender Sentiment Survey, the “sentiment” is not the Cry Me a River or You Are the Sunshine of My Life variety. This “sentiment” describes how real estate lenders (presumably including some Milton mortgage companies) feel about mortgage business prospects in the coming months. The actual report has a remarkable record of a lack of sentiment: it’s usually pretty much on target.
So it is that when the 2015 first quarter Survey appeared last month (this is one real estate report whose ‘first quarter’ paper actually appears in the first quarter), it sounded another positive note in the assemblage of springtime real estate projections. The summary talked about “an improving outlook among mortgage lenders” because those surveyed “expect mortgage demand…to grow over the next three months.” The hard number was 71% having that expectation, which wouldn’t be surprising, given our entry into the busy spring selling season. The optimism drew more from the fact that this is a substantial improvement compared with the same quarter 2014 (71% vs. the previous 59%).
If the growth they anticipate holds true for our own market, it wouldn’t just indicate improving activity for Milton home buyers and sellers. After what they viewed as an “uneven” 2014, Fannie Mae’s Chief Economist Doug Duncan said the results were “consistent with our view that an improving economy, strengthening employment, and increasing consumer confidence” pointed to the more cheerful outlook.
Also cheerful was the picture mortgage issuers expected for their own well-being. A year ago, lenders who thought their profitability would increase were in the extreme minority: 21%. This year, the size of the optimistic group doubled.
Local mortgage applicants could find good news in one more of the reasons for the expectation for mortgage demand to grow over the next three months. The report talked about how last year’s credit tightening was continuing to “trend down.” And there at the top was the headline which mentioned “Gradual Credit Easing.” For anyone who had found it hard to qualify under last year’s rules, that’s very welcome news.
If you will be buying or selling anytime soon, I hope you’ll give me a call: the sentiment here is also the green light kind!
Your first open house in Sussex County can be compared to a movie’s world premiere. We may not have strobes flashing and paparazzi jostling each other, but all eyes are definitely on the above-the-title headline star: your house.
It’s a star that has to look its glamorous best, too, or the fans will be disappointed. The purpose of any Sussex County open house is to sell buyers on the largely emotional dream of potentially owning your home. Doing so means banishing everyday imperfections—the debris created by daily living—from the stage (at least to the extent it’s practical). Absolutely essential is insuring that the whole property, inside and out, is clean and tidy.
Your first open house is one premiere that can use some set decoration and makeup wizardry, as well. They call it ‘staging’ when a professional sets the scene, but you don’t necessarily need a pro stager to make some magic happen. Clear away every bit of clutter, then open the rooms to as much flattering light as you can to create a setting that will appeal to buyers.
To insure the opening is as grand as possible, your Sussex County open house should be literally as “open” as possible. Restricting a room or two does not play well with the critics, so unless there is a real risk in allowing visitors access, understand that any serious buyer will need to see everything. Covering things up will look suspicious—even if you know you’re just doing so because one room is a little messy. Having a room or two blocked off has been known to deter otherwise interested prospects.
Part of movie’s success depends on good word-of-mouth, so consider inviting the neighbors to stop by. They’ll be happy to receive an invitation, and their presence can also work in your favor. When neighbors are there, mingling in the lobby with potential buyers, their first-hand information about the neighborhood, schools, etc. will carry ultimate believability.
First rate Hollywood premieres provide press kits by the score; your Realtor® should do the same. A front table should have your agent’s color fliers with all the necessary information about the house…and you can consider taking it one step farther with a sheet of your own detailing what you love about the home, the neighborhood, the local schools, shops and restaurants. It’s the kind of souvenir that can keep your house in the running when buyers decide which properties rate a second visit.
Helping create Sussex County open house hits is just part of my job! If you are looking to sell your home, contact me today to discuss the details of a marketing plan that will bring the results you want. Call/text 302-228-7871 or 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.