Study Yields Change in Buying vs. Renting

Rehoboth Beach Rental Homes & the Rent vs. Buy Metric
New Rental Homes Metric: Both Clever and Hilarious

For everyone who rents (or leases) Rehoboth Beach rental homes, it’s a choice that comes up every year: rent or buy. In addition to the common sense considerations everyone brings to that important decision, some financial measurements have been developed through the years that attempt to bring an element of rationality to a largely subjective decision.

Actually penciling out an answer isn’t always satisfactory because it is literally impossible to quantify elements like peace of mind. To some who own their Rehoboth Beach homes, there is great peace of mind in controlling their own destiny. To others, the…

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Last week a family came into our Rehoboth Beach office thinking they had booked a rental through our office. Apparently, they found a vacation rental listed on Craigslist for a very reasonable price.

The family received a leased, spoke with a "rental agent" on several occassions and paid for the “rental” using PayPal. The day before their scheduled arrival, the "rental agent" confirmed that keys would be waiting at the property.Unfortunately, after driving 9 hours, when they arrived at the propoerty, they found another family already in the home.

So seeing our agency sign, they called and were told that the property owner has agreement with our brokerage and no one us. This being during the height of rental season, there was not a very good chance of…

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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  total…

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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 growth…

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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 country,…

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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.

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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 are a lot of…

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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 (MLS). All are…

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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 assist…

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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.
   • The credit equals 30% of what a…

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