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Fenwick Island, DE Homebuyers React to Today’s Changing Landscape

In the days before COVID-19, had you asked most people how a pandemic might affect the homebuying public in Fenwick Island, DE, a fair majority would probably have replied something along the lines of “Well—it probably wouldn’t be good.”

We now know that they would have been wrong (at least, initially).

Nationwide, most areas are experiencing an onrush of newly motivated buyers—many of them seeking to adjust to today’s changing needs. In a recent article in Barron’s, the CEO of a leading national homebuilder, Sheryl Palmer, described motivations of many newly energized homebuyers: “What I have to do working from home has just changed, and I can’t retro my house.’”

Simultaneously, at the same time that this increased buyer demand would normally coax homeowners into the market, many would-be sellers are hesitant to list their homes, because—well—pandemic! This in the face of interest rates, which, holding near all-time lows, translate into more affordable monthly mortgage payments and higher asking prices!

With the increase in demand and stubbornly low inventory, it’s hard to argue there could be a better time to sell. So, although much remains to be seen about the course of the virus and the short-term effects of the on-again, off-again economy, residential sales are happening—homebuyers in Fenwick Island, DE are buying.

If you have been considering selling, pandemic or no, there’s little reason to suspect that tomorrow’s market will be more favorable than today’s. Call me—let’s come up with a strategy that works for you! Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com.