When sellers start the home-selling process, no one wants to think "What would happen if my home doesn't sell?" But before you panic, recognize that there are many things that you can do so you don't wind up in that position.

Tip 1: Understanding the real estate market and the value of your home will help you avoid this dilemma. The first key point is to get educated about the market. Read your newspapers, online real estate sites, and consult with the best experts in real estate for your area to determine the sales price.

While all that may seem basic, you'd be surprised how many sellers rely on emotion to dream up a selling price for their home. Some have done little, if any, research on even their own neighborhood. Instead, their strong ties to…

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help your home sell quicklyIf one of your New Year's Resolutions is to sell your Rehoboth Beach home, there are a few simple steps you can take to help prepare it for showings.

With a prospective buyer in mind, take a tour of your home, making a list of the good, the bad, and the not-so-bad. You may spot areas in need of major renovation; and areas which could benefit from just a basic touch-up.

It's these latter areas which will likely yield the biggest return on your investment so, in preparation for making your home "buyer ready", consider these steps.

Landscaping

The first thing a buyer will notice is the outside of your home. Sometimes called "curb appeal", first impressions are very important to the sale of your home. Therefore, be sure to trim bushes, rake leaves,…

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coastal-delaware-livingPerhaps you’ve vacationed along the Delaware Coast and can’t get it off your mind—not just the abundant shopping, dining and night life, but surf fishing in one of the beautiful bays, or going deep on an offshore ocean charter.

Was it the golf in the Bayside Resort Golf Club, designed by Jack Nicklaus, that stole your heart?—if not one of the other top-rated golf clubs in the area, like King’s Creek Country Club or Cripple Creek Golf and Country Club.

Did you stumble upon authentic sunken-treasure coins along a public beach and discover they were yours to keep? That, of course, led you to the DiscoverSea Shipwreck Museum, where you indeed discovered a collection of 10,000 shipwreck and recovered artifacts that is one of the largest in the…

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nahb-hmi-homebuilder-confidenceThe National Association of Homebuilders (NAHB) Housing Market Index ended its 8-month winning streak this month, posting a value of 47. The January 2013 reading is on level with last month, and remains at a near 7-year high.

The Housing Market Index (HMI) is a measure of home builder confidence. HMI readings below 50 indicate a "poor" new construction conditions for single-family homes nationwide; ratings above 50 signal "good" ones.

Not since April 2006 has the Housing Market Index crossed into "good" territory, but the past two years have witnessed the HMI nearly triple; and the index is up from a reading of 25 just twelve months ago.

Values would have likely increased this month, too, if not for builder uncertainty. The NAHB cites concern over…

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first-time-home-buyersIt can happen when you least expect it: an opportunity unexpectedly opens up – and you suddenly realize that the time to become a homeowner is here! It may happen when the landlord of the Rehoboth Beach home you’ve been renting suddenly decides it’s time to sell. Or, during a search for a rental, you happen upon a new Lewes listing that’s such a bargain you’d be crazy not to snap it up!

For Coastal Delaware first-time buyers, unexpected opportunities like these may be the first time they seriously entertain home ownership. If that’s the case, they may well be disappointed. The fact is, the time for first-time buyers to start planning is well in advance.

Job One is to take very seriously the sometimes arbitrary-seeming Rules of the Road for credit…

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credit-score-fico-improvementFor home buyers in Coastal Delaware and nationwide, credit scores can change low mortgage rates and alter home loan approvals. Borrowers with high credit scores get access to lower mortgage rates, for example, and can find the mortgage approval process to be more smooth that borrowers with low credit scores.

If your credit score is low, here are some basic ways to help improve it. 

Get The Reports

Download an updated version of your credit report from each of the three major reporting bureaus -- Equifax, Experian and TransUnion. The reports may mirror each other, but credit accounts -- especially derogatory ones -- sometimes don't appear on all three. Ordering reports from all three bureaus is a safety step. Note that the credit bureaus each use…

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when-does-a-reverse-mortgage-make-senseEveryone sees those TV commercials featuring sincere celebrities pitching reverse mortgages. If you are 62 or older, chances are you’re also subjected to glossy mailers (and even DVDs!) that show up in your mailbox at regular intervals.

Latest stats show that approximately 83% of baby boomers plan to stay in their homes during retirement. That may be why some Coastal Delaware homeowners who have built equity in their homes may be paying attention.

You can’t blame them if they have one overriding question -- is this some kind of scam?

Essentially, a reverse mortgage is just one way to tap into a home’s equity regardless of the owner’s credit score or income. Under a reverse mortgage, borrowers receive a monthly payment, line of credit, or lump sum.…

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30-year mortgage ratesMortgage rates rose last week nationwide during a week of sparse economic news. Thursday's weekly jobless claims report showed 371,000 new claims, which was 1,000 fewer jobless claims than for the prior week. Wall Street expectations of 365,000 new jobless claims turned out to be too optimistic.

The semi-quarterly statement released Thursday by the European Central Bank (ECB) announced that the region's inflation remains below its 2 percent ceiling as established by central banker. Economic weakness in the Eurozone is expected to persist into 2013 with signs of recovery becoming evident toward the end of this year.

ECB cited financial and structural reforms as essential to economic recovery, and noted that national governments within the Eurozone have…

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Bathroom remodel tipsFull-scale bathroom remodeling can be expensive and, in today's Rehoboth Beach housing market, you won't likely get all of the money back that you put into it at the time of sale.

Knowing that bathroom projects tend to have a low return on investment, therefore, here are a few inexpensive changes which you can make to spruce up bathrooms in a home for sale.

Fixtures
Most sellers will notice if the fixtures in a bathroom are old, and it can have a negative effect on their view of your home. Buy a new set of bathroom fixtures at a home improvement store. Most stores have matching towel racks and bathroom tissue holders, too. There is a wide selection of stainless steel, wood or ceramic fixtures available at most stores, too.

Paint
A fresh coat of…

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Oceanfront CondosPurchasing an oceanfront condominium for full time residency or investment property should not be done on a whim. The financial considerations should be studied and weighed before making such a purchase. Each party has its obligations.

For you, can you afford the monthly maintenance fees without stressing your wallet in the event your rentals are on the slow side? Can you afford a condo facelift every five years or so to freshen up your place to make it a desirable unit? 

For the condominium, do you have sufficient insurance coverage in place in the event of a catastrophic event, such as a hurricane? Does the condominium have adequate reserves to repair roofs, pave parking lots and paint the buildings when it’s needed? 

Here are 5 tips to purchasing…

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