Listing Courtesy of MARVEL AGENCY INC
Remember the good old days, when most people could depend on staying in the same job in the same community for an entire career? Okay; the truth is, I don’t actually remember any time like that—but I do remember watching TV shows about it... The truth is, as with so many other facets of 21st Century life, sudden career upheavals that cause a Lewes citizen to undertake an abrupt relocation are fairly common today. And accelerated timing requirements can make the situation more intense.
Even without that added obstacle, familiarity with the ins and outs of practical relocation is one of the most valuable assets you gain access to when selecting an experienced Lewes Realtor®. Especially when a relocation is in your immediate future (even if it’s a future that became apparent without a lot of warning), the reality of having to deal with the mass of details accompanying both moving out and moving in can seem like a huge gray, angry-looking cloud hanging overhead.
Just getting a handle on the details can go far to remove the mystery and dispel anxiety. A short list of the elements that need to be determined and coordinated are:
a. Professional and school requirements
b. Transaction imperatives in both communities
c. Moving and storage details
d. Utility requirements
Once a timeline is determined and a To Do checklist assembled, it will be possible to stay on top of the process. Most importantly, it will help highlight those details that seem to be falling behind— allowing them to get extra attention. Staying abreast of relocation details is the single most important keys that will lead to a smooth outcome. It’s one of Murphy’s Laws that, come moving day, any detail that has been put off until the last minute is likely to cause foul-ups of one kind or another. For instance, if the electric service wasn’t notified far enough in advance, count on the move taking place on the hottest day of the year. Unpacking cartons and moving furniture around without working air conditioners is a memory best avoided!
Any relocation is a challenge that requires a welter of decisions in areas that fall outside what people encounter in everyday living. Fortunately, it’s a challenge that your Lewes real estate professional encounters regularly. Help with practical relocation to (or from) Lewes is just one of the areas of practical expertise that is yours to tap into when you put an experienced Realtor on your team.
The days when most Americans expected to stay in the same community for a lifetime may be fading from memory, but being able to rely on your Lewes real estate professional to help master some of the most challenging upshots is still here. They may say that nostalgia isn’t what it used to be, but that shouldn’t stop you from giving me a call, anytime! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestate.com.
Diana Olick is a well-known industry writer. Anyone with an interest in Delaware real estate can usually find something of value when she comes up with a new entry in her CNBC column (the one with the pun-worthy title, “Realty Check”). This month she commented on the rising housing market across the nation and its repercussions in terms of homeowner equity.
The piece points out that in the U.S., home equity has doubled over the last five years!
It’s hardly news that home values have been steadily on the rise—that’s been a trend long seen in the asking prices in Delaware and our Delaware listings. But the idea of homeowner equity actually doubling could be hard to believe.
That’s a claim that sounds a like quite an exaggeration…until you stop to think about what is actually being said. When a Delaware homeowner sees that their home’s “equity” has doubled, what it doesn’t mean is that its value has doubled.
Here’s a simplistic example. Suppose a Delaware homeowner’s vacation cabin was estimated to be valued at $100,000 in 2011. Doubling the owner’s equity doesn’t mean that today the cabin would be worth $200,000. The “equity” in the property is the amount of investment value currently owned: the difference between its market value (in this case, the original $100K) and the amount owed on its mortgage. So if there were a $70,000 mortgage outstanding on the cabin five years ago, its equity at that point would have been the difference: $100,000-$70,000—or $30,000.
Using CNBC’s calculations (actually, they relied on research from CoreLogic), for our example property to match the national average, today its owner’s equity would have had to have doubled to $60,000.
For many Delaware real estate owners, that’s not much of a stretch.
Keep in mind that as time moves on, for all mortgage loans other than interest-only loans, the amount owed is reduced with each payment. If the principal portion of the payments had averaged just $200 a month, the amount owed would now be down to $58,000. For the owner’s equity to have doubled to $60,000, the market value would only have to have risen to $118,000: and that’s a mere 18% rise, which works out to an average of 3.6% per year. That wouldn’t be unusual, considering the steady gains we’ve seen. Long story short: voila—investment equity doubled!
The moral of the story isn’t just that there are many happy Delaware homeowners—but that the investment value of owning a home continues to be what it has been for as long as real estate has been bought and sold: a very canny investment. If you are planning on adding to your own personal Delaware real estate investments, I hope you’ll consider using my services as a key part of your strategy. Do call me! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.