Everyone keeps talking about how hard it is to get a mortgage with today’s tighter lending standards. Many people actually disqualify themselves without even talking to a mortgage professional! But with both money and houses on sale, now is a really great time to buy. In fact, 8 of 10 homeowners would say now is a great time to buy a home.

So if you are thinking about moving up, moving down or just taking advantage of ridiculously low interest rates, here are some tips to help you present a stronger application.

1. Income Documents

Most lenders want to see a full month of paystubs and the last two years complete Federal Tax returns. If you are on a pension or social security, they will also want to see the award letters. Assembling them ahead of time and holding on to every paystub you get is a good idea even before you find a home and/or submit your mortgage application because it will save you time later. (more…)

Do you ever wonder what all those initials are about? You know that long list of three and four letter abbreviations after Realtor’s names? If you were to look at mine, you would see Kathy Sperl-Bell, Broker, ABR, CRS, SRES. Most consumers do know what a Broker is, but don’t know and probably don’t really care about the others.

As a Broker, I do care because it tells me a lot about the REALTOR® that I may be thinking of hiring or to whom I may be sending a Referral. (more…)

There are certain truths in every business, things you just know to be true. After 10 years in Real Estate, I have learned that some things never change. These truths are undeniable:

1. Your first offer is usually your best buyer
2. On a resale, no one wants the middle unit
3. No one searches the Internet for a 2 bedroom home
4. Pricing your home at $299,999 misses all the people searching for homes $300,000 – $350,000
5. Empty homes look smaller
6. It takes both sides – buyer and seller – to make a good deal
7. If it seems to be good to be true, it probably is
8. All Real Estate is Local – What happens in Lewes is different than what happens in Las Vegas
9. Staging works – Typically a staged home sells in 50% less time for 5% more
10. Homes listed with a REALTOR sell for more money than a For Sale By Owner!

Can I prove all of these? Maybe not, but I can share 10 years worth of stories that illustrate these Realities.

If it seems too good to be true it probably is and that applies to homes. When I get a call telling me

I’m looking for a bargain

or asking about buying a short sale or foreclosed home, I can tell they probably just saw a segment on CNN about the housing market. Or maybe they heard that commercial on satellite radio about the thousands of foreclosed homes that can be bought for pennies on the dollar.

There are great deals on good homes that happen for various reasons:

(more…)

You’ve heard of the “Last Chance Workout” if you’re a fan of The Biggest Loser. Amazing what they can accomplish given the opportunity! Well there are some “Last Chance Opportunities” at several of our Active Adult Communities.

Holiday Incentives

Independence is one of those with a Holiday Incentive from now through December 23rd. Today I found notes I had made in February 2008 when we saw some of the first ever incentives from Schell Brothers at Independence. They were offering $15,000 in options/upgrades and a hard hat tour of the Clubhouse.

That was then and this is now – (more…)

There is so much new technology introduced every day to help you find your next home. Sometimes I wonder – what technology do you use? For example:

• Do you use a Smartphone?
• Is your Smartphone a Blackberry or an iPhone or Android device?
• Have you ever scanned a QR Code? If you saw one on a For Sale sign, would you scan it to get more information?
• Have you upgraded to an iPad or other tablet with all the bells and whistles? (more…)

The Peninsula on the Indian River Bay is one of Coastal Delaware’s most beautiful resort properties. Last year when Bill and I were homeless, waiting to move into our new home in Lewes, we were thrilled when good friends told us we could stay at their condo at The Peninsula. If you are new to this blog, you may have missed all the great photos I posted during that time. View Peninsula photos!

The Kingfisher

There are more choices than ever at The Peninsula and the latest addition is the new Coastal Series from Schell Brothers. Just introduced are 6 models in the Marina Bay neighborhood starting at the unbelievable price of $499,900 for The Kingfisher, one of the most popular new models from Schell. In fact, this price is lower than the Base Model price for the same home at Breakwater in Lewes, Delaware. The Spinnaker is priced the same at Breakwater and The Peninsula, and The Beach Plum introductory price is actually $30,000 less! The New Model pricing may not stay this low for very long, so if you have always wished you could afford an elegant single family home at The Peninsula, you should Email Kathy now!

Remember, The Peninsula is the only true gated community in Coastal Delaware. It also features the private Jack Nicklaus Signature Golf Course and amenities that are unmatched in this region.

Where do our buyers come from? In Coastal Delaware, so many of the new Buyers now come from outside Delaware and have limited local knowledge about our communities, builders or lifestyle. On top of that, quite a few Baby Boomers have been in their current home for 20 years or more, so it’s been a long time since they bought a home. Now that I have been a REALTOR™ for 10 years, I am taking the courses necessary to become a Broker. Taking these classes at this time in the housing market is a real reminder to me of just how critical our knowledge and experience can be to a Buyer.

The Laws are different

The laws governing real estate are so different in each state. For example, Delaware is an Attorney State which means that real estate settlements are handled by an Attorney. States like Maryland and Virginia are Title States and settlements are handled by a Title Company. (more…)

Is it true what you read about the low taxes in Delaware? Yes, it is absolutely correct. If you now live in New Jersey, New York, Maryland, Pennsylvania, DC and almost anywhere else, your property taxes will be much lower here. Even in Coastal Delaware resort towns like Lewes, Rehoboth Beach and Bethany, taxes on a $400,000 new home will average less than $1,500 a year.

I get many calls from people looking at retiring to Coastal Delaware because our taxes are so much lower but they really don’t know that much about this area. They may tell me what they are looking for in a home and their target price range for a new active adult community with all the amenities. I often have to tell them that “Lower taxes doesn’t necessarily mean cheaper homes than where you now live”. What is a realistic price range for a new or resale home in a community that has it all – a clubhouse, a pool and some of the other amenities like a Fitness Center and group activities? That depends on location and the total list of amenities and size of facilities.

So how do you calculate what you might be able to afford as you prepare for retirement and living here in Delaware? Print this post and fill in the information below so that we can compare your expenses now to what they might be if you moved here:

• Property taxes:
• School taxes:
• Community fees (HOA, Condo or Club):
• Membership in a Fitness Club or Gym:
• Sales Tax:
• Insurance costs for both your home and your vehicles:
• Social Security and projected income taxes on retirement income:

More difficult to calculate but perhaps most important, what is your lifestyle cost? Can you put a price tag on less stress, less traffic and a more relaxed lifestyle? What I have noticed is less wear and tear in general. My car looks better and lasts longer than it did when I lived in New York or Boston or the DC area. Even my clothing wears longer and goes more places and there are no more suits taking up closet space. I’m just saying, the way to make decisions about where and how to live can be fun and lead to new adventures. Lower taxes just might make it possible.

What makes a chef?

It takes more than a list of ingredients to make me a chef! When asked if I can cook, I often say “I can follow a recipe”. I can do the simple things pretty well. I don’t undercook or overcook and I know what I like. When I watch a chef put together a meal, however, I realize there’s a big difference.

What about a good builder?

I used that analogy recently with a client of mine who asked me how to tell the difference between the builders because they all say “we are green” and “we are the best”. A list of ingredients, I replied, does not mean that the builder is committed to building you a quality home. It takes more than advertising and a good sales pitch. It takes a commitment to quality, a reputation built over time and the respect of other professionals. The builders I recommend are the ones that consistently deliver on their promise, build a good home and have a company culture that prioritizes customer service. Something can always go wrong with any builder, but the difference is how they handle the problems and do the right thing.