What’s my property worth? Rent or Sell.

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Getting Started with Property Worth

 

Finding the value of your property is an inherently tricky venture. Fleeting changes in desirable styles, parts of town, and the market can all have an impact. But, there are some guiding principles that can help us gauge a current property value and potentially increase it.

The best place to start when assessing your property worth is by keeping an eye on comparable homes that are being sold (or rented) in your neighborhood. Value is simply what people are willing to pay, and if buyers/renters see that other homes nearby are selling for a smaller sum, then your property better be something special to make them willing to pay much more.

Watching prices over a period of time is much more useful than simply looking once. Seeing a few asking prices and calling it a day may give you a sense that your property is worth more than it actually is, while keeping track of changes over time and seeing what homes actually sell for in the end will give you a much better idea of a realistic value for your property.

Delaware Realty Management, Property Management Company in Delaware, helps landlords rent out homes like this

Marks For and Against a Property Value

 

Size, location, and age are all things that have an obvious impact on your property value and are sadly mostly out of your control. High crime rates, a history of flooding in the area, or a small yard can drive value down , while being within a good school’s district can do wonders for a home’s worth.

Luckily, there are a few things we can do to increase a property’s value. Making repairs and renovations that can future-proof a property can have a marked effect on cost. It would be wise to add up any money you have spent on your property in the past and keep any records you may have of these costs. Including any extra amenities like a pool, fireplace, porch, garden, sprinkler system, or quality appliances in the value of the home can help as well. Do you have a finished basement or attic? Those areas can be valuable perks for people looking for more space.

An older home can be a blessing or a curse. If you can prove that your property is structurally sound and updated with modern utilities, the age can be a selling point. But, if there aren’t enough updates, the value may decrease due to concerns about the foundation or lack of modern heating and cooling.

Things to Consider for Delaware Property Worth in 2022

 

To say we’re currently in a seller’s market is a huge understatement. Frustrated buyers are struggling to get their offers in quickly enough and many properties are going well above asking price. In 2021, 58.6% of homes sold above the listed price and homes were up by 19.4% overall.

Will that trend continue? It’s difficult to say, but if you’re considering selling a home, now may be the time.

As a Delaware homeowner, you’ll also want to consider some of the factors unique to Delaware properties that may impact your property’s worth. Many parts of Delaware are on marshlands. If flooding is an issue in your area, ensure that your property’s sump pump is well maintained. Delaware is also a very small state, so even if your property is not within city limits, proximity to cities and amenities can be a huge plus when selling your property. And some of our smaller towns are rapidly growing so imminent restaurants, shopping centers, and entertainment venues can be factored in. For example, the fastest growing areas in Delaware right now are Middletown, Smyrna, Milford, and Claymont.

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What Our Property Owners Say

We purchased several homes from one of their agents and had DRM step in to get them in shape and rented. We are happy with the care and service they provide. Their team is quick to notify us of maintenance and they do regular inspections to catch any issues.They work hard to collect rents and keep tenants on track. We have and do recommend DRM if you have investment homes in Delaware.

L. Burstein

Delaware Realty Management have been excellent property managers throughout my tenancy. Very personable, accommodating, quick response(s) whenever I had questions or needed something fixed. I would highly recommend them to anyone looking to work with them.

R. Scott

I have had a great experience here with [DRM]. [They were] attentive and addressed all my questions.

B. Evans

I have worked with them over the past few years and have had nothing but great service. I have several properties and they have done a terrific job managing them for me, providing great service to my tenants at a very fair price!

M. Mayo

[DRM] made this the easiest application process ever! Super helpful and the most responsive property management team I have ever spoken to! Would definitely recommend!

C. Muuo-Wambua

Professional property management company. Really appreciate how much attention to detail they show and how much they care about their property! They have been a delight to work with during the process.

L. Samak

We have been working with Delaware Realty Management for some time now and could not say enough about them. They are efficient and friendly. If you’re looking for a realty team, look no further!

Paddy's Roofing

Great company to work with! They are efficient and fair with our needs and the staff is very helpful and kind!

C.Burroughs

I’m so pleased with [the DRM] team. It was a great experience from application to move in. The team was so resourceful being that I’m relocating from another state. Thanks ladies!

E. Oluwatayo

Finding the right property management company can be challenging, but Delaware Realty Management’s experience really stood out to me. These ladies handles everything from renting homes to handling the maintenance and emergencies. Happy Homes = Happy Tenants! I’ve worked with them as a vendor and they are so well put together and so knowledgeable about this industry. They are the only company I recommend.

J. Clark

[The teams]’s exceptional qualities make Delaware Realty Management the perfect choice for anyone seeking a new home. I wholeheartedly recommend them!

S. Burkhalter

Wonderful experience thus far. Everyone has been easy to work with and I love my home.

C. Wolfe

The best realty company I have ever worked with. Highly recommend! Thank you Delaware Realty Management.

D. Skinner

I have had the pleasure of being a tenant of a property managed by this business for just shy of 4 years and I could NOT recommend them highly enough. Not only are they a pleasure to work with, they are always quick to respond to any questions you might have, and should your property require maintenance or service of any sort (I only had the question that turned out to be nothing in all this time); they also get right back to you in a quick and professional manner. This is a first class property management agency. If you are looking for a new rental, definitely continue to look for openings with them if you are able, and if you are trying to decide between 2 properties, hands down select the one managed by Delaware Realty Management. They also make paying your rent so easy with a portal set up for you with many payment options. I never write reviews, but I just had to because this business is just so wonderful.

F. Villafuerte

They were fantastic and very helpful through our entire relocating process. Thank you again for all your help.

W. Hilton

I have been working with [DRM] for about 15 years providing pest control services. Very easy to work with and very professional.

V. Shiwpal

DRM looks out for the best interest of the property owner.

K. Morgan

This is a very professional management company, their interactions with our offices and clients have been phenomenal and I hope we can continue to work with this team of professionals.

K. Johnson

I started with one investment property and hired Delaware Realty Management to manage it. Since then, they’ve worked with me on finding additional homes to buy and now I have over 10 (and growing) with them. I’m happy to recommend them to anyone. A great team!

R. Makar

The management team always responds quickly for any needs that I may have as an owner. It’s the perfect partnership.

M. Metz

Thanks for your professionalism and making this process efficient and stress-free. We love the townhouse! We would use your company again.

Mr. and Mrs. Henderson

Amazing company!!!, Professional staff. I recommend Delaware Realty Management.

G. Zavala

I first contacted DRM when I was being transferred out of state and didn’t know if I should rent or sell. After speaking with them, I chose to rent my home. They helped get the home ready for market and handled everything once I left. I’m now happily settled, my home is rented and I have a great tenant.

A. Parella

DRM have been my property managers for over 10 years and I’ve had no major issues. I live several states away and I don’t worry at all about my house in Delaware. Nikki is always on the ball.

Opkala Girls

Great team, always responsive, friendly and courteous

A Saunders

I would strongly recommend DRM to anyone looking for a management company. I live out of state, so it is important to have a management company who can be hands on.

A. Lange

DRM’s services made renting my home easy and stress-free. I was unsure where to turn since I had never rented my home before and am happy at how simple the process was and how thorough their team is from beginning to end. I highly recommend them to someone starting out!

J. Vitak

Great team and prompt maintenance. Beautiful place to live would recommend.

M. Susan

STUPENDOUS

I. Tafari

There were a few things that needed to be addressed in our condo when we moved in and an issue with our fridge (which was replaced promptly the next day it burnt out with a beautiful stainless steel fridge). We couldn’t be happier with the service she has provided us and our experience 14 months later.

Jessica S.

A great company to work with. [DRM] made this looking and obtaining a new rental place easy and painless. Timely responses friend and patient. I just wish my last property management company was 1/5th as good as Delaware Realty Management, LLC is. Looking forward to many years of great service with them.

R. Mosher

I appreciated [DRM]’s time and help while assisting me to find housing. [They were] very thorough and Definitely Recommend! A+

Allison H.

Delaware Realty Management is a joy to work with! Quick to respond, very detailed, and well-versed in what they do.

E. Martin

Amazing customer service! A+++

S. Dintino

The team at Delaware Realty Management was extremely professional and supported our renting process in a timely matter. They always walked the extra mile for making us feel secure and confident throughout the process, clarifying our questions and making this transition as smooth as possible for our family. I will highly recommend DRM for your housing needs, they will take great care of you and your family!

S. Madrigal

By far the service provided is excellent. They handle all maintenance calls in a timely manner and the leasing office goes above and beyond to assist.

A. Bryant

Amazing management! They have been so kind and easy to work with!

C. Phillips

Thank you so much for working with [us] on getting our home in Newark ready to rent. We appreciate all you did with the applications, credit scores and lease. You helped find the perfect tenants. We will use your services again when their lease is up.

Charles and Patti

As landlord owning a few rental units, I rendered the service three times, and continue to render their service. They do application process, draft the lease, and know the current update. Therefore, I only focus on showing the house and meeting the applicants. Thanks again for your service. I could not manage it without your service.

Rental House

Great Property! Lauren is the best!

S. Lander

Excellent management, fantastic company, you will not find better. I highly recommend.

D. Newman

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