Connect

Find us on...

Mann & Sons Inc

414 Rehoboth Ave Rehoboth Beach, DE, 19971
Office: 302-227-9477

Dashboard

Login using...

New Search X

December 2012

Found 25 blog entries for December 2012.

Jobs report is due Friday and could move mortgage ratesMortgage bonds improved last week, pushing mortgage rates lower in Delaware and nationwide. Positive economic news and strong housing data was trumped by ongoing Fiscal Cliff discussions on Capitol Hill.

The "Fiscal Cliff" is meant to represent January 1, 2013 -- the date on which mandatory spending cuts are enacted by Congress and on which tax rates increases for many U.S. taxpayers.

Some analysts believe that if these two events are to occur simultaneously, it would derail the current U.S. economic expansion and revert the economy back into recession. That concern has spurred a flight-to-quality which has benefited mortgage bonds and, therefore, U.S. mortgage rates.

For example, last week, Freddie Mac reported the average 30-year fixed rate

1,429 Views, 0 Comments

Condo Fees

A recent survey finds that among those who are seriously considering buying a condominium in the coming year, nearly a quarter of them consider condo fees a key element in their decision.  According to the study, participants think HOA fees “feel a lot like paying rent” -- sometimes causing buyers to switch focus toward properties for sale where they “won't have to pay the [high] monthly fees."

Psychologically, it’s understandable. The concept of paying $400 or more a month (condo fees vary from $100 to $1,000) as a “fee” on top of a mortgage can indeed feel a lot like paying rent. But not all costs associated with owning property are readily apparent. 

For example, most condo fees include maintenance for common elements like landscaping, snow

1,982 Views, 0 Comments

With the “End of the World” now comfortably behind us , you might think the coast would be clear for a while. But -- at least when it comes to Coastal Delaware real estate matters -- some would have you believe we are face-to-face with another extreme dire threat: the Internet buzz about a (gasp!) huge new federal sales tax on all real estate transactions.

federal-sales-tax_224This one was all over the web even before passage of the federal health care act. It has staying power, and comes in several forms. The one that circulates most often is an email message warning that a 3.8% Medicare surtax that is going to hit “average, middle-class investors” on January 1. Supposedly ALL real estate transactions are subject to the tax “no matter how low their income might be…”

If

1,522 Views, 0 Comments

Fix up an historic homeIf you enjoy both history and fixing things, then you may have trouble driving by historic homes for sale in Lewes without feeling the urge to buy and fix one up.

Before you do, however, you should know the three R's of fixing historic homes -- Restoration, Renovation, and Repair.

Restoration
"Restoration" is the process of returning a home to its original state. Restoring historic homes often requires city and state permission. It's essential that you check to see whether your home is listed in the National Register of Historic Places (NRHP); or, whether it's located in a historic district. If either is true, there may be a specific set of rules to follow while renovating.

Restoration can be an expensive endeavor. For a home to keep its historic

1,242 Views, 0 Comments

HPI from peakThe U.S. housing market continues to make home price gains.

Earlier this week, the S&P/Case-Shiller Index showed home prices gaining 4.3 percent during the 12-month period ending October 2012, marking the largest one-year gain in home prices since May 2010.

The Case-Shiller Index measures changes in home prices by tracking same-home sales throughout 20 housing markets nationwide; and the change in sales price from sale-to-sale. Detached, single-family residences are used in the Case-Shiller Index methodology and data is for closed purchase transactions only.

Between October 2011 and October 2012, home values rose in 18 of the 20 Case-Shiller Index markets, with previously-hard hit areas such as Phoenix, Arizona leading the national price recovery.

8,205 Views, 1 Comment

Rehoboth Beach rental“High rental occupancy and rising rents” was how economic trend-watcher Kiplinger.com summed up 2012 – and as the nation counts down to the New Year, owners and future owners of Rehoboth Beach rental property are clearly anticipating more of the same. Experienced managers have some timely advice for first-time Coastal Delaware rental property owners as they prepare to lease in the coming year.

Rule #1 for attracting quality tenants, they say, is to be hard-nosed about offering a quality product.  Rentals are hot, but that doesn’t mean a property will rent itself – especially when the goal is to attract the kind of conscientious tenant who means a trouble-free income stream. 

Touch-up and trim renewal can be a quick, cost-conscious way to add appeal to

1,725 Views, 2 Comments

Water heater savingsA simple way to save money is to improve your home's energy efficiency rating.  For example, Lewes homeowners can save up to 9 percent per year on water heating costs simply by installing a water heater jacket.

Water heater jackets are easy to install. Here's how you do it :

First, before you go shopping, check whether your water heater is a gas model, or an electric one. Then, write down your water heater model number. Most water heater jackets list compatible water heater models on their respective packaging. Look for jackets with a value of "R-8".

Then, as you start your project, be sure to turn the water heater off.

Water heater jackets are pre-cut to make installation simple. Remove the outer packaging and separate the jacket's pre-cut

1,490 Views, 0 Comments

Existing Home SalesMortgage markets worsened last week amid ongoing discussions budget and tax conversations in Washington, D.C., and the release of key housing and economic data.

Mortgage rates in Coastal Delaware climbed.

Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.37 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points at closing, plus closing costs -- an increase of 0.05 percentage points from the week prior.

The average 15-year fixed rate mortgage rate was listed at 2.65 percent nationwide with an accompanying 0.7 discount points plus a full set of closing costs.

With certain government funding and tax reductions set to expire December 31, legislators appear unlikely to avoid what's been called the

1,366 Views, 0 Comments

Rehoboth Christmas memorialWhen you visit any of the properties for sale in Rehoboth Beach this time of year, it’s likely you will notice a little extra sparkle.

The holiday touches may be variations on the icy blue-and-white color palette -- or dashes of silver brightening the traditional red-and-green decorations. If you’ve been reading the home décor magazines, you know how the leading trends this winter are all about glitz and glam: designer touches meant to brighten even the darkest winter day (remember, this year’s shortest day -- December 21 – is right around the corner!). Still, I always suspect that a little nostalgic holiday warmth can add the same kind of welcoming touch…without breaking the piggy bank!

If you are planning to join those with Rehoboth Beach properties for

1,395 Views, 0 Comments

Shopping for a homeOne of the effects of the steady national rise in home prices is a shift in attitude by previously cautious consumers. It’s only natural to find more people focused on buying homes in Rehoboth Beach while it is still relatively inexpensive to do so.

Homeowners who are listing their own Coastal Delaware properties this winter are well advised to be mindful of those and other considerations bound to be motivating prospective customers. Buying homes – especially homes in a faraway locale – gives rise to many concerns. Positioning the way a home is marketed to anticipate those concerns can mean a sale to an out-of-town buyer on a Coastal Delaware home-hunting trip.

Some of the questions out-of-towners are likely to be thinking about:

What are the
1,625 Views, 1 Comment