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Buying and Selling Del Mar Real Estate
Del Mar Real Estate Cycles
In the business cycle of real estate, there are buyers' markets and sellers' markets...and some markets in between. It is all based on supply and/or demand. Del Mar is no exception.
There are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and... they buy houses, namely Del Mar.
Then, for one reason or another, the economy slows down. Companies lay off employees and consumers are more careful about where they spend money, perhaps saving more than usual. As a result, the economy decelerates. When there are fewer people in the market to buy homes. This is true for the Del Mar real estate market as it is for all markets nationwide.
Del Mar Real Estate Cycles
During a slow economic time, fewer people are buying homes in the Del Mar market. Even so, some homeowners find themselves in a situation where they must sell. Families grow beyond the capacity of the home, employees get relocated, and some may even find themselves unable to make their mortgage payment - perhaps because of a layoff in the family.
During sellers' markets, Del Mar real estate sells quickly and sellers have a lot of pricing power. As a result, prices rise more rapidly than at other times. During buyers' markets, Del Mar real estate may sit on the market for a while before selling, so sellers become more flexible and may even drop their prices.
Buying Del Mar Real Estate...Will it Pay?
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Del Mar loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.
Does Your Del Mar Have Curb Appeal?
Every prospective buyer who visits your Del Mar home is struck by a variety of impressions regardless of whether your landscaping is eye-catching or merely so-so. Plants that overrun the walkway, trees that badly need pruning and visible suggest to the prospective buyer that this home will take a lot of landscaping maintenance and yet if your yard is well-maintained, the prospective buyer is inclined to simply admire the fact and move on. If your Del Mar front porch or front door need paint, the prospective buyer is likely to notice the paint job inside and out and think about how much maintenance that will take on a yearly basis. The important message here is that things that look bad or run down call attention to all the work that needs to be done while things that are well maintained conjure up ideas of how pleasant it would be to live there.
Del Mar ADVANTAGE
The advantages of buying in any particular city or area depend on the buyer’s individual needs. Factors include proximity to schools, work, shopping, recreation, cultural opportunities and health care. Affordability is another important factor. So your first step in considering Del Mar or any other city is to determine which of your needs are met and which are not met.
Del Mar BARGAINS
A bargain exists in the mind of a buyer when entering into an agreement to exchange goods when the buyer thinks the price is favorable. Bargains can always be found in the Del Mar market if a buyer is patient and willing to wait for a truly motivated seller. In economic downturns many people believe that foreclosures and short sales are automatically bargains when, in fact, this may not be the case.
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