Delaware real estate is always a relevant topic here in Bayside. Our residents want to know that they’re choosing a stable economy and the best location for their next home. The Sussex County Association of Realtors (SCAOR) conducted a survey earlier this month that measured our county’s progress in real estate over the past year. The survey was anonymous and given to 1300 realtors across Sussex County.
Overall, the survey produced very positive results and is encouraging to all of those in our region. Fifty-six percent of realtors who took the survey described this year’s sales as “significantly higher” or “somewhat higher” compared to transactions from last year.
“We had a pretty good idea prior to this survey being conducted how it was going to turn out, but it’s nonetheless very heartening to hear so many of our members say that they are experiencing increased business in 2013” says Bob McVey, 2013 president of SCAOR. “Real estate is a key contributor to a strong economy; they really do go hand in hand. I definitely think we’re seeing that play out at this time.”
More and more people who have been considering buying their second home have decided that now is the time to move back into the market. It’s clear why – this is the best time to purchase a new vacation home or beach community home in Sussex County. Not only is the national economy improving, but the local economy is as well.
As the housing market improves, homes prices and mortgage rates will improve as well. In fact, mortgage rates are expected to hit at least five percent by the end of 2013. This suggests that rates and prices won’t be this low again any time soon. Any home bought in today’s market will increase in value and be a great benefit to its owner.
The Fenwick Island area is perfect for those who are looking to buy their second home near the coast. Our neighborhood has the best amenities in Delaware, which are only complimented by a beautiful, well maintained, Jack Nicklaus Signature golf course. Fenwick Island and the surrounding communities are also active and buzzing with fun events throughout the year.
Our residents can rest assured that they’re living in the best community in Delaware and that their investment in their home will only continue to grow in value over time.
Source: Cape Gazette