Russell Stucki, a luxury home marketing specialist and a Realtor with the RE/MAX Realty Group in Rehoboth Beach, is confident that the luxury home market is still strong despite the weakening economy. Stucki’s expertise in high-end properties prompted his research of the Sussex County Multiple Listing Service regarding in-town Rehoboth Beach homes sold through Dec. 8.
“My [certified luxury home marketing specialist] real estate designation provides me with a wealth of insights regarding the upper-tier real estate market. I’ve discovered new and creative tools for promoting luxury homes and estates. My training helped polish my marketing skills and has provided me with a valuable network of other agents across the country that also specialize in luxury properties,” said Stucki.
“Last year – 2007 - in-town Rehoboth Beach single-family homes listed between $1 million and $3 million dollars closed by real buyers to the tune of $45,928,000. This year, so far, $45,430,000 of real estate has been sold within the Rehoboth Beach area, east of Route 1,” said Stucki. “The dollar difference between 2007 and 2008 is just shy of one half million dollars, and the year’s not over. We just could surpass last year’s totals.”
“Russell Stucki is an example of a real estate professional who works to fine-tune the special skills and competencies necessary to provide exceptional service in the fine homes and estates marketplace,” said Nora Martin, RE/MAX Realty Group in Rehoboth Beach broker of record.
Stucki’s research showed that buyers are in the Cape Region and are still buying real estate. Through Dec. 8 and with an average of 257 days on the market, 16 Rehoboth Beach single-family homes sold for prices between $1 million and $1.5 million dollars, totaling $19,627,000 of real estate business. This includes three sales in the Canal Corkran community and one [non-Multiple Listing Sytem] real estate closing.
“The highest in-town sale was ocean block at $2,395,000,” said Stucki. “Based on a total price difference of $1,727,000 for all closed real buyers for homes in the $1 million to $1.5 million dollar range differed between the list price and the closing price by approximately $108,000.”
High-priced homes sell
Since January, 14 homes have settled at a price between $1.5 and $3 million dollars, totaling $25,803,000 worth of business with the sold listings averaging 170 days on the market. This includes one home in North Shores, one in Henlopen Acres and the balance of 12 properties located in-town Rehoboth Beach.
Based on a total price difference of $3,530,000 for all closed sales in the $1.5 to $3 million dollar price range, the difference between the listed price and closed-sale price for these homes averaged $252,000. “I represented three buyers who purchased luxury homes this year - one being the second highest closed sale in the area for $2,290,000 in North Shores - and the buyers are out there - trust me,” said Stucki.
“Savvy shoppers know, now is the time to buy, sell and move up by taking advantage of the market’s current climate. I hope you find this information beneficial and encouraging going into 2009.”
Stucki is an award-winning RE/MAX sales professional who has been working in the Rehoboth real estate industry for the last three years and has experience in listing and selling waterfront and investment properties, estates, bed and breakfasts, commercial businesses, lots and land, farms and farmettes, and equestrian properties.
He is one of a select few real-estate luxury property professionals in the country who has earned the distinguished honor of membership in the Million Dollar Guild.
His listings appear internationally on WorldProperties.com and the Real Estate Home Show. Among Stucki’s achievements are awards for most group transactions in 2007 and the 100 Percent Club in 2006 and 2007.
Stucki’s website, BeachRealEstateMarket.com, includes a comprehensive property search engine.
For current information on the luxury home market, contact Russell Stucki at 302-228-7871, by email to russellstucki@ remax.net.
