Rehoboth Beach Real Estate Blog

The following has been compiled by the Sussex County Association of Realtors' MLS:

The total number of closed listings as of March 31, 2012 was 611 homes totalling $155,065,025 in sales. The average sell price of a single family home was $253,789. Three bedroom home sales accounted for the largest segment with 323 sales compared to 122 for 2 bedrooms & 157 for 4 bedroom homes. Sellers obtained 94% of the listed sell price & the average days on the market reported was 228 days.The average sell price for a 2 bedroom home is $170,725; 3 bedroom home is $224,483 & a 4 bedroom home is $378,192.

The Single family home sales show an improvement from the same time period in 2011. Last year, 492 homes were sold for an average sell price of $305,836 with …

Investors continued to boost their activity in the housing market during the month of February, according to the latest results of the monthly. Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. And short sales have become a new target for investors now that other homebuyers have lost their enthusiasm for these popular but often lengthy and unpredictable transactions.

The total share of distressed properties in the housing market in February, as represented by the HousingPulse Distressed Property Index (DPI), continued to climb, reaching a near-record of 48.7%, using a three-month moving average. This was the second highest level ever recorded by HousingPulse and the 25th month in a row that the DPI has been above 40%.

All of the…

Lewes Delaware Real Estate has become rather popular of late. Once you have made the decision to purchase your home, your next decision is usually how much you are willing to spend to purchase the home. In deciding on that purchase price one must consider what the costs of owning and maintaining that home will be.

Consider ALL Closing Costs: When calculating your closing costs remember to budget all items not just those associated with the legal work. Remember to include such items as the appraisal, termite, and home inspections. Depending on the location and age of the home other inspections such as radon and lead based paint inspections could be prudent.   

Taxes: While Delaware offers home owners some of the lowest real estate taxes in the…

Recently released for November, The S&P/Case-Shiller composite index of single-family home prices declined 0.7 percent...slightly larger than the 0.5 percent economist expected. While previous months were trending toward a decelerating decline, November's data broke the trend. Note: Case-Shiller data has a two-month lag.

Average sale prices for Real estate in Rehoboth Beach & the rest of Sussex County substantially declined from October but the median sale price slightly increased. A healthy market would show increases in both the average and the median.

We continue to see substantial buyer activity in the region and barring a major geopolitical event, I foresee an upward trend in single-family prices and a stabilization in condominium prices.

The first thing to examine when thinking about selling your home is your own attitude. Have you adjusted it to accept that the real estate market is not what it once was? The value of your home is elusive and as valued as it is to you, it may not be worth that to others. You would be wise to know what is on the minds of today’s buyers. Hopefully the list below will help you to gain an edge in today’s marketplace. And please keep Mann & Sons in mind for all your Rehoboth Beach Real Estate needs.

• Sales Price:  They call it a buyer’s market for a reason. All buyers are looking for and expecting a deal or at least the perception of one. Where location used to rule, sales price has risen to the top of a buyer’s priorities and in general there…

What a great time to purchase Rehoboth Beach Real Estate or a home in virutally any area. In general there is a good selection of affordable homes to choose from coupled with low interest rates. It is indeed a buyer’s market.  Below are some things to consider as you make a decision to purchase.

• Find a good real estate agent – An agent can assist you through every step of the process from assisting you in finding the right home to getting you successfully to the settlement table and everything in-between, including where to find home inspectors and general contractors. 
• Start looking now – There are many websites out there to assist you in your search, such as MannAndSons.com, realtor.com, zillow.com, and the multiple list services…

Now is the time to buy! You read and hear it everywhere. Real estate and financial experts agree that today’s housing market certainly favors the buyer. Low interest rates, larger inventories, and affordable prices make buying now very enticing. The question one should ask first though, is buying right for me?

Below is a list of things to consider in making that decision. Owning a home in is a long term financial responsibility and should not be entered into lightly. If you decide to purchase, start off making the first wise decision by using a professional real estate agent. The internet gives buyers unprecedented access to the property listings but you will be much better off to have an agent with your best interest at heart that can advise and…

Homeowners still have time to make energy-saving and green-energy home improvements this year and qualify for one of two home energy tax credits:

1) The Nonbusiness Energy Property Credit is aimed at homeowners installing energy efficient improvements such as insulation, new windows and furnaces.
   • The 2011 credit rate is 10% of the cost of qualified
     energy efficiency improvements.
   • The credit has a lifetime limit of $500, of which only
     $200 may be used for windows.
   • Qualifying improvements must be placed into
     service before January 1, 2012.

2) Homeowners going green should also check out the Residential Energy Efficient Property Credit, designed to spur investment in alternative energy equipment.

According to the November 30, 2011 Housing Pulse/Campbell Surveys out of Washington D.C.:

Investor purchases hit 22.3% of closed transactions for the month of October, up from just 19.6% as recently as July. For the past three months, investor participation has exceeded 20%, continuing a long-term trend of increased investor interest in the housing market.

A combination of low home prices and growing demand for rental units make purchasing damaged Real Estate Owned (REO), fixing up the properties, and then collecting monthly rents, an attractive financial play. In October, average prices for damaged REO hit $101,100, the lowest price recorded in two years. In contrast, home prices for non-distressed residential properties averaged $266,700 in…

Morgan Stanley recently reported that the current home ownership is around 59.2%, the lowest since tracking began by the Census Bureau in 1965; however, more than half of Americans are still homeowners. In spite of the downward economy there are numerous benefits to homeownership and purchasing real estate in Rehoboth Beach and elsewhere.

Pride of Ownership: Probably the number one reason people are driven to own their own home. You can make your home a reflection of your taste through design of permanent features, decorating, and landscaping. It’s an investment in your future that provides a sense of security and stability.

Equity: Paying a landlord is like throwing your hard earned money into a roaring fire. It’s gone forever. In exchange for…