Did you know that Delaware’s No.1 in Tax-friendliness?
Yes, it’s true, the media company Kiplinger offers an online state-by-state Tax Map including a Guide to State Tax Policies, where Delaware Ranks No.1 in Tax-friendliness.
This map/report confirms what we at Active Adults Realty and the Director of the Delaware Economic Development Office, Alan Levin have known all along,“Delaware is the best place to live, work and play, and do it all for less money.”
The Tax Map offers information on a range of taxes—including income tax, sales tax, gas tax, and taxes on alcohol and tobacco. According to Robert Long, managing editor of Kiplinger.com, “This is the first time that Kiplinger’s has created such a consolidated online guide to taxes across the United States. It is very important for users to understand not only the differences in taxation by state, but also the tradeoffs associated with those policies.”
Click here to compare state taxes.
A sister project to Kiplinger’s Tax Map is Kiplinger’s Retiree Tax Map, where Delaware ranks in the Top 10 U.S. Places to Retire, too. This map calculates income taxes on investment income, retirement-plan distributions and Social Security benefits, plus a rundown of sales taxes, property taxes, and estate and inheritance taxes.
Now, when you’re ready to visit to Delaware give us a call at 302-424-1890 or email firstname.lastname@example.org and a member of our team will be glad to help you. The more advance notice you can give us—the better, so we can be sure your time includes everything you need to compare and choose the right Delaware neighborhood. But if you decide tonight that you want to get up early and drive down in the morning, no worries, call and we’ll do our very best to make your trip a success!
Home buyer enthusiasm has driven home prices to their largest annual gain since 2005, according to a recent article in the Wall Street Journal.
Evidently, home buyer interest – fueled by low mortgage rates as well as reduced inventories – helped drive prices up in 2013.
Now, experts are saying that home buyers and home sellers can expect price gains to level off in the wake of the home buying frenzy.
Key Statistics For National Home Buyers or Sellers
According to the Standard & Poor’s/Case-Shiller price index, U.S. home prices increased 11.3 percent year-over-year during the fourth quarter.
Meanwhile, the Case-Shiller index that measures home prices in 20 major metropolitan areas reported that prices increased 13.4 percent during that same period of time.
And another index, which is calculated by the Federal Housing Finance Agency, reported that prices increased 7.7 percent, to an eight-year high.
More News You Can Use
Here’s what else real estate analysts recently reported about the national housing market:
- Home priced decreased 0.1 percent from November to December in the 20-city index.
- That marked the second straight monthly decline.
- Experts noted that the monthly declines during the fourth quarter were actually the smallest for that period in eight years.
- Meanwhile, in January, sales of previously owned homes dropped 5.1 percent from a year earlier, according to the National Association of Realtors.
- Home builders across the country reported increased profits in recent months. For instance, Luxury builder Toll Brothers said it saw a 21 percent year-over-year increase in its average sales price during the quarter ending in January.
- However, the builder also reported that new contracts for homes during that same quarter decreased 6 percent year-over-year.
- Meanwhile, all 20 cities reported annual gains last year, including Las Vegas with the largest at 25.5 percent and San Francisco following close behind with 22.6 percent.
- Across the US, home prices have increased 21 percent after bottoming out in early 2012.
- Home prices, which dropped 35 percent between 2006 and 2012, now are 21 percent below their previous peak.
- Now, home prices are at the levels they were in mid-2004.
Experts say that the rising home prices are good in one sense, although they may also curb home buyer activity as homes become increasingly less affordable.
Still, in the long run, the leveling out of price gains is a good thing because it means a more stable and robust housing market.
Your National Real Estate Experts
We hope you stop by our blog again soon to get the latest information on national housing market activity.
We’re your national real estate experts and we’re here to help you make an informed decision on the market as a buyer or seller!
Active Adults Realty’s Community Real Estate Update Reports on 6 Coastal Delaware Neighborhoods
Our Active Adults Realty Coastal Delaware Community Update offers reports on six Coastal Delaware communities, special promotions and showcase homes for those who are looking to buy real estate in Coastal Delaware. If you find this information is of interest in your search for a retirement home in Delaware, visit our website and sign up for our Active Adults Realty Community Update and Boomers and Beyond at the Beach in Delaware-they’re free and full of information to help you find your new home.
Our March Update includes the Coastal Delaware Neighbrhoods of Bayside Fenwick Island-Schell Brothers Builders, Villages of Red Mill Pond-KHOV Builders, Senators-Schell Brothers Builders, Heritage Creek-Schell Brothers Builders, Bay Crossing-Blenheim Builders, Heritage Shores-Providence Builders, Bishops Landing-Beazer Homes, Bayside-Schell Brothers Builders…
Bayside: Located just 4 miles from the beaches in Fenwick Island, features low-maintenance living, a Jack Nicklaus Signature golf course, recreation and fitness center with pools and hot tub, a beach with kayak launch, The Cove Bar and Grille, tennis, basketball and volleyball courts. UPDATE: At Bayside, 16 clients have settled in the last five months and 3 Buyers are getting ready to close. If you are interested in 1 of the 6 Single Family Homes or 1 of the 22 Twins still available, call 302-424-1890 or email us at email@example.com today. We’ll make sure you take advantage of the current incentives, $30K off Single Family Homes and $20K off the purchase price on Twins.
Villages of Red Mill Pond-KHOV Builders: Conveniently located just off of Route 9 and minutes from all the charm and culture historic Lewes, The Villages of Red Mill Pond offer a bounty of water recreation activities, a gazebo, kayak/boat launch, walking trails along the water’s edge and cozy community events in the Clubhouse. UPDATE: Since 9 more homes have sold since the New Year, it’s easy to see why this neighborhood is becoming a popular choice of boomers moving to Sussex County. In fact, 5 of our clients selected The Villages of Red Mill Pond for their new home address. Call 302-424-1890 or email us at firstname.lastname@example.org to tour available showcase homes that are ready for quick delivery. Continue reading
What Do You Know About Financial Basics?
What’s New In The World Of Higher Education
What are your financial goals?
Spring training is a tradition that baseball teams and baseball fans look forward to every year. No matter how they did last year, teams in spring training are full of hope that a new season will bring a fresh start. As this year’s baseball season gets under way, here are a few lessons from America’s pastime that might help you reevaluate your finances.
Sometimes You Need To Proceed-One Base At A Time.
There’s nothing like seeing a home run light up the scoreboard, but games are often won by singles and doubles that get runners in scoring position through a series of base hits. The one base at a time approach takes discipline, something that you can apply to your finances by putting together a financial plan. What are your financial goals? Do you know how much money comes in, and how much goes out? Are you saving regularly for retirement or for a child’s college education? A financial plan will help you understand where you are now and help you decide where you want to go.
It’s A Good Idea To Cover Your Bases
Baseball players minimize the odds that a runner will safely reach a base by standing close to the base to protect it. What can you do to help protect your financial future? Try to prepare for life’s “what-ifs.” For example, buy the insurance coverage you need to make sure you and your family are protected–this could be life, health, disability, long-term care, or property and casualty insurance. And set up an emergency account that you can tap instead of dipping into your retirement funds or using a credit card when an unexpected expense arises.
Southern Delaware 2014 Real Estate Market Update
Sussex County, DE - January 2014 Sales at $61,418,158 were up 31% over January of 2013 in Sussex County! Single family homes were up 27% over the same period last year. Condos and Townhomes were up 42% over the prior January. Sales from 2012 to 2013 in January were flat a year ago so this is a big improvement.
Commenting on this new information, Gail Alm of Fairway Independent Mortgage in Rehoboth Beach said, “Even though the weather has been a factor, these are very strong numbers for January 2014 and showing a continuing trend of recovery to our very own housing market. The average single family home price sold last month was up 17% over January 2013 at $301,054. This shows that average home prices are also on the rise after having been flat the prior January. In Sussex County last month there were 7 real estate transactions every single day! Properties are selling!”
An article posted by James Diehl of the Sussex County Association of Realtors on home sales in Sussex County said, “For the third consecutive year, the number of home sales in Sussex County has increased indicating the real estate recovery in Delaware’s southernmost county is continuing to gain momentum. The for sale inventory level is the lowest it’s been in Sussex County in more than two years, another positive sign for the long-term strength of the real estate market in southern Delaware.”
The Sussex County Association of Realtors (SCAOR) is a resource for the public, as well as a recognized advocate for property rights and property owners in Sussex County. To read more about issues related to Sussex County’s real estate industry, visit SCAOR’s website at www.scaor.com.
Renting Before You Buy
We often get contacted by people who would like to try living in Delaware before they make a decision to buy. I’m sure this is the case when people anywhere are thinking of a major relocation, especially when they retire. No matter how compelling the reasons to consider moving to Coastal Delaware, first you need to get to know the area to find out how you like it.
Can we rent a home in a 55+ community in Delaware?
But here is the challenge, we do not have a supply of rental homes or condos in the new active adult communities. Sure, there may be one or two but there is no inventory of homes available for rent in the same community you are thinking of buying. It is purely hit or miss and whenever we have had one available for rent it has gone quickly.
There is no Multi-List for Rentals in Delaware Continue reading
Changes are afoot on the national housing market that suggest that this year is going to increasingly favor the home seller. And that means buyers will likely be paying more for real estate in 2014.
According to a recent news article, the National Association of REALTORS® recently reported that nearly 5.1 million homes sold last year, which is the highest rate it’s been since 2006.
Meanwhile, values are rising as home sellers grow increasingly tired of selling their home for “cheap.”
Although this is resulting in longer Days on the Market averages, it also means that home prices are rising.
A Look Back at 2013 Activity
Here’s an overview of national real estate activity, according to December data:
- From January to December 2013, there were 4.87 existing home that were sold on a seasonally-adjusted annualized basis.
- That figure is one percent higher from the month before.
- For 2013 overall, there were 5.09 million home sales, which is a nine percent increase from the year before. Continue reading
“Locals Now!” recently interviewed Pat and Elizabeth Kerwin for our Featured Boomer column. The Kerwins moved to Nassau Grove in Lewes on January 3rd 2013 from Point Pleasant, New Jersey. Patrick was President of Patrick T. Kerwin, Inc, a Commercial Refrigeration HVAC company, while Elizabeth’s served as Vice President of Patrick T. Kerwin, Inc.
Featured Boomers: Pat & Elizabeth Kerwin
LN: Where else did you consider before buying in Delaware?
EK: “We considered Wilmington, NC, Coastal South Carolina and Southern New Jersey as our other options before choosing Delaware as our destination.”
LN: What were the most important factors in making your choice?
PK: “The property taxes and no state or pension taxes. Next, the location – close to the coast and to DC, Maryland and Philadelphia. We also enjoy having access to all the beaches and beautiful small towns in the area.”
LN: “Why did you choose Nassau Grove?” Continue reading
Why Will New Health-care Costs Impact Social Security?
By Michael Loftus, Managing Director at Loftus Wealth Strategies. In an article titled, The Impact of Health-Care Costs on Social Security, he sourced Fast Facts & Figures About Social Security, 2013 and offered the following commentary on health care costs and their impact on your Social Security.
For many retirees and their families, Social Security provides a dependable source of income. However, more of that income is being spent on health-related costs each year, leaving less available for other retirement expenses.
More Social Security income is being spent on health-related costs each year, leaving less available for other retirement expenses.
The importance of Social Security
Social Security is important because it provides a retirement income you can’t outlive. In addition, benefits are available for your spouse based on your benefit amount during your lifetime, and at your death in the form of survivor’s benefits. And, these benefits typically are adjusted for inflation (but not always; there was no cost-of-living increase for the years 2010 and 2011). That’s why for many people, Social Security is an especially important source of retirement income.
Rising health-care costs Continue reading
A February 2014 article in the AARP Bulletin and on the AARP website www.aarp.org written by Bill Hogan, reminds me that I am such a Boomer.
A Boomer’s History of the Winter Olympics
“February brings the 2014 Winter Olympics in Sochi, Russia, with 98 events in 15 sports. It’s the first time that Russia has played host to the winter games, and the first time—thanks to Russian cosmonauts aboard the International Space Station—that the Olympic torch has been carried on a space walk. In preparation for the 22nd Winter Olympics, here are some highlights from past games.” —Bill Hogan
1960: Walt Disney produces the opening and closing ceremonies in Squaw Valley, Calif.
1968: In his native France, heartthrob Jean-Claude Killy wins the triple crown of alpine skiing (downhill, giant slalom and slalom), making him the most recognized skier of his generation.