QTR2 Real Estate Data: More Good News for Sussex County!

QTR2 Real Estate Data Shows Continued Strengthening in Coastal Delaware

Just released from SCAOR AT A GLANCE, a newsletter from the Sussex County Association of Realtors, “more good news for Sussex County’s real estate markets this week. Second quarter data from SCAOR shows a continued strengthening in Sussex, Delaware’s southernmost and fastest growing county.”

We are #1The article goes onto say, “Through the first six months of 2014, real estate sales in Sussex County have increased more than 14 percent over the first six months of 2013, with a shade over $350 million in sales recorded in the county.”

And even better news could be on the horizon, as 801 sales are now pending in Sussex County. This would add significantly to the 1,044 homes already sold thus far in 2014.

The number of sales has also increased 30 percent in the second quarter!

The number of sales has also increased 30 percent in the second quarter, over the first three months of the year. Taking all available data into account, the area’s real estate markets continue to benefit from an increase in momentum, with cautious optimism prevalent related to the days, months and years ahead.

Interested in Selling? Connect with An Expert

“Working with Active Adults Realty is not about a particular house or community – it’s about the people. Our Clients are interested in making decisions about how and where they want to live for the rest of their lives. Our Staff is made up of our Clients. We are all active adults who relocated to this area. We have been there and done that. We’ve been the new kids on the block, we started over, we made new friends and now we are here to help you.” Kathy Sperl-Bell, Broker-Owner, Active Adults Realty

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US Home Purchase Contracts See a Significant Increase

US Home Sales InformationIt’s certainly a headline we like to see around here:

“US Home Purchase Contracts See a Significant Increase.”

And in fact, that’s exactly what The Associated Press recently reported.

This is great news, especially given that – so far this year – the pace of buying is slower than in 2013. A lot of this can be attributed to the harsh winter that kept many home buyers inside.

But as the recent report indicates, spring and summer sales activity may ultimately compensate for those sluggish winter months.

It’s Not Just Sales Contracts Enjoying Favorable Conditions

Here’s a full report of what the National Association of Realtors recently revealed: Continue reading

Real Estate: What kind of buyer are you?

 Boomers: what kind buyer are you going to be?

Have you ever noticed that some people look at the big picture while others focus on the minutest detail? When my husband and I are taking a drive I generally notice the landscape-taking in the whole view like a painting, while Bill will ask if I saw that odd bench in the park we just passed. I always say, “What bench? I was looking at the sky!” While Bill is extremely detail oriented and notices things I never even see, I tend to look at the overall picture.

This same thing happens when people decide to buy a new home or relocate to a different area. As unique individuals, we all have different sets of priorities, different ways of searching for the same goals, that’s probably why the Internet has had such a huge impact on the real estate industry. You can search and search, looking at homes for sale all day long.

http://www.dreamstime.com/royalty-free-stock-images-senior-couple-love-technology-tablet-computer-image38001529Finding your next home on the Internet, who are you?

It should be that simple but many people think that is all it takes. Now, if you are moving locally and have lived in the area for a long time, you may have enough local knowledge to decide on your own where you want to buy your next home. However, most of our clients are relocating to Delaware from out of state. Many have never even been to the 1st state but have made the decision to move here or at least are considering this state when they retire.

“The Believers” – The Internet never lies!

Don’t believe the hype. So much of what you need to know to make a good purchase decision is based on local knowledge, reputation and experience. In your own business or industry, do those things matter? I bet they do and no one has that expertise from day one. The longer I am in the real estate industry, the more I realize how much there is to learn every day. Just because a builder is the biggest or the one that spends the most on advertising on the Internet or on Billboards, this does not mean they are the best choice. Continue reading

Consider Today’s Low Interest Rates and Buy Now!

Take Advantage of Today’s Low Interest Rates and Buy Now or Pay Later!

“It’s official! The average interest rates today are now below 2013’s average interest rates… but who knows for how long!

gail Image urgencyAs the following article from Keeping Current Matters shows, the cost of waiting to buy a home can really add up to thousands of dollars per year!

After you read the details and consider today’s low interest rates, let’s run your numbers and see if makes sense to wait another year or so or should you buy that home right now.”  - Gail Alm, Mortgage Planning Specialist at Fairway Independent Mortgage Corporation.

Moving Up? Do it Now!

A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer. We want to address this group of buyers in today’s blog post.

There is no way for us to predict the future but we can look at what happened over the last year. Let’s look at buyers that considered moving up last year but decided to wait instead. Continue reading

US Home Sales Increase for the 2nd Straight Month

US Home SalesOne month of positive real estate sales is encouraging, but sometimes it can be a fluke.

That’s why we’re always so thrilled when positive numbers one month carry over into the next month.

And that’s just what we saw with the recent release of May sales numbers… US Home Sales increase for the 2nd straight month!

According to a recent USA Today article, existing home sales increased for the 2nd straight month in May, increasing to their strongest rate since the fall.

Here’s what the most recent data from the National Association of Realtors revealed: Sales of existing single-family homes, townhomes, condos and co-ops reached a seasonally adjusted annual rate of 4.89 million, which marks a 4.9 percent increase from April’s rate of 4.66 million.

This was the highest monthly percentage gain since August 2011!

And this wasn’t the only indicator that the market is improving. In fact, metrics across the board hinted at growth on the national housing market: Continue reading

Top 10 Tax Breaks You’ll Miss in 2014

tax_advice_062714You probably didn’t notice but when the clock struck midnight on December 31, 2013, these top ten tax breaks… a number of popular tax benefits, commonly included in the list of provisions referred to  as “tax extenders” expired. While it’s possible that Congress could retroactively extend some or all of these items,

“You’ll have to evaluate your 2014 tax situation based on the fact that they’re no longer available.” says, Michael Loftus.

Now The Top Ten Tax Breaks:

1. Qualified charitable distributions

For the past few years, a qualified charitable distribution (QCD) of up to $100,000 could be made from an IRA directly to a qualified charity if you were age 70½ or older. Such distributions were excluded from income and counted toward satisfying any required minimum distribution (RMD) that you would otherwise have had to take from your IRA for that tax year. QCDs aren’t an option for 2014, however.

2. Qualified small business stock exclusion

For qualified small business stock issued and acquired after September 27, 2010, 100% of the capital gain resulting from a sale or exchange could be excluded from income, provided certain requirements, including a five-year holding period, are met. For qualified small business stock issued and acquired after 2013, however, the amount that can be excluded from income drops to 50%.

3. Deduction for higher education expenses

The above-the-line deduction for qualifying tuition and related expenses that you pay for yourself, your spouse, or a dependent is not available for 2014. Continue reading

CHSP: One Of 20 Stunning State Parks! -USA Today

At one of 20 stunning state parks in the USA, bikers, runners, walkers and politicians met for the official opening of the new Gordons Pond Trail

This new 3+ mile trail at Cape Henlopen State Park in Lewes, connects Herring Point in Cape Henlopen State Park to North Rehoboth Beach’s Gordons Pond area.

Gordons_Pond_Trail_Opening-Markel

Governor Markel: “It doesn’t get any better than this!”

“Through innovative design and the superb construction, this single trail is very well marked with views, vistas and outstanding transitions between the ecosystems including incredible wildlife,” said DNREC’s Colin O’Mara.

Governor Markel said of this new trail, “It doesn’t get any better than this!” But it did. He then announced that a just published article in USA Today places Cape Henlopen State Park in Lewes, Delaware as one of the 20 most stunning state parks in the United States.

This news is great for Delaware’s economy as that according to the National Association of State Park Directors (NASPD), each year more than 720 million Americans visit state parks and generate more than $20 billion in revenue for local communities.”

The return on this investment will be 10 fold,” said DNREC’s Colin O’Mara.

Gordons Pond Trail Opening-061814_linda

Linda Gaskill of Friends Of Cape Henlopen State Park pledged the organization will continue keeping CHSP the Jewel of Delaware State Parks.

Delaware State Senator Ernie Lopez, Former DE Governor Ruth Ann Minner and Rep Pete Swartzkopf were in the house for the opening.

Delaware State Senator Ernie Lopez, Former DE Governor Ruth Ann Minner and Rep Pete Swartzkopf were in the house for the opening.

The article titled, 20 stunning state parks across the USA was compiled by Katie Rosenbrock and Diana Gerstacker at TheActiveTimes.com. “This list of noteworthy state parks was compiled by the people who know them best: the directors and managers whose job it is to run and maintain them.” Continue reading

Two Lewes Institutions Celebrate 50th Anniversaries

Twin 50th Anniversary Celebrations Means JUN 29 Fireworks in Lewes!

The Lewes Chamber of Commerce partnered with the Cape May-Lewes Ferry (CMLF) and Cape Henlopen State Park (CHSP) to celebrate their respective 50th Anniversaries with a grand fireworks display launched from the fishing pier at CHSP on Sunday, June 29.

According to a Cape Gazette article by Ron MacArthur, “The ferry went into service on July 1, 1964, and the state park opened on October 17, 1964. Fireworks will be able to be seen from most points along the shore of Delaware Bay in Lewes, including the beach near the fishing pier.”

Photo by: DRBA

Photo by: DRBA

The fireworks presentation will take place on Sunday, June 29  at 9:15 pm from the state park’s  fishing pier.

The fishing pier will close at 6am on June 29 to allow for preparation. Spectators, parking will start at the main CHSP beach parking lot in the state park. Other areas will open as the main one fills.

According to the Lewes chamber blast, on Friday, June 27, WHYY-FM will broadcast live from 6pm at the Lewes Canalfront Park. Continue reading

Boomers Close More Cash Deals in National Real Estate Market

Baby Boomer home buyers Boomers close more cash deals, say National Real Estate Market Experts!

According to a recent report from Bloomberg, as more Baby Boomers retire, U.S. real estate experts are seeing more cash deals across the nation.

Evidently, these Baby Boomers (defined as anyone born between 1946 and 1964) are opting to purchase their homes with all cash instead of taking out a mortgage.

Experts credit this in part to the fact that US home price gains have restored $3.8 trillion in value to home owners since 2012.

This means that a record number of Americans (including Baby Boomers) are using that equity to help them pay cash for properties, avoiding a home loan altogether.

Another factor is that these Baby Boomers have more money in savings, allowing them the option to pay with cash.

This is an important trend that is sure to have an effect on all home buyers, not just those who fall in the Baby Boomer cohort.

More Revealed on This Recent National Real Estate Trend

Continue reading