Listing Courtesy of OCEAN ATLANTIC SOTHEBY'S INTL REALTY
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.
It turns out that the run of admirable national and Delaware home sales advances have been pulled off despite a couple of strong countercurrents. At least that’s the theme that emerges from last month’s Aspiring Home Buyers Profile report, which supplied one obvious and one not-so-obvious widespread beliefs among would-be future homeowners.
Delaware home buyers are always a mix of current homeowners (who will usually also be selling) and first-timers. Among the latter group, a major drag on their willingness and ability to invest in their own Delaware home is the student debt phenomenon. Enough has been written about that in recent years that it’s hardly a surprise: 39% of non-owners cited student loan payments as a primary reason they weren’t planning on being able to buy anytime soon.
Much less expected is the proportion of current non-owners whose reasons centered on a piece of widespread misinformation. Apparently, the same percentage—39%—were convinced that they need more than 20% of the price of a home to qualify for a loan. Another 26% believe a purchase is only possible when they can produce a down of 15%-20%—and a majority of the remainder (another 22%) think they need a down payment of at least 10% - 14%.
The chief economist for the realtor.com website summed it up concisely. “Aspiring buyers think it takes twice as much to buy a home” as it actually does in most cases. Although the actual numbers for any Delaware home purchase always depend on the details of the particular situation, the actual national averages will come as a shock to most. According to the latest National Association of Realtors® survey, the average down payment on a purchase mortgage was only 11% in 2016. That’s the average—in many cases, it was much lower. On Friday, CNBC’s Diana Olick quoted Attom Data Solutions’ finding that “down payments are shrinking…to a 6% average.”
That’s a pretty wide gap between common belief and current reality—one with real world implications. After all, if you assume a down payment has to be twice the amount actually required, it probably means you won’t even bother thinking about buying a house until long after you might have been able to get started. That could mean thousands of rent dollars diverted from what could have been spent on retiring a home loan. Long term, the difference would be significant.
If you are considering becoming homeowner in Delaware or have been putting off even thinking about it because of what could be an incorrect assumption, I hope you’ll give me a call. There is never any obligation, of course—and the old saying is absolutely true in this case: it can’t hurt to ask! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.