Listing Courtesy of BERKSHIRE HATHAWAY HOMESERVICES GALLO-L
The first stop for anyone looking for a new home in Lewes —or for anyone who is even mildly curious about what properties are currently available—is the Lewes real estate listings. Like those you find here on my site, today’s online real estate listings are updated regularly all across the internet. It’s a coordinated system that appears deceptively simple on the surface, bringing you what you ask for from within the mind-bogglingly vast amount of detail that encompasses all the properties being offered throughout the country at that moment.
When a prospective buyer goes online to get a feel for the Lewes properties being offered, the real estate listings she or he sees appear to be straightforward enough. The information is clearly formatted, presented in a way that makes it easy to compare with other properties’ attributes. That apparent simplicity might be a little bit misleading, as anyone who has recently put their own home on the market knows.
Before any listing goes online, all the property’s physical details have to be determined and verified. It’s your agent’s job to make sure the paperwork is complete—including the legal documentation that says, yes, this property is for sale at this amount. The 2015 NAR® handbook on multiple listing policy fills 152 pages for good reason. ‘Under the hood’ of the neighborhood listings is the structure of legal agreements that stitch together the cooperative framework that enables the smooth functioning of the modern real estate industry. Stripped of all its legal bells and whistles, it’s really an agreement among brokers and agents who agree to the way work will be apportioned and commissions shared.
As you might expect, those 152 pages also cover some special kinds of real estate listings. Homeowners, for instance, can create Lewes real estate listings that are not made public. This is done when the seller withholds consent for a listing to be published with the MLS compilation. Although that might seem to be a particularly bad idea—like a candidate running for office who decides it would be a good idea to keep his name off the ballot—there are circumstances when it makes sense. Such ‘office exclusive’ listings can serve a useful purpose when maximum confidentiality is important. Celebrities and other public figures sometimes use this approach, as do sellers who’d rather not publicize their plan to jump ship until it’s a fait accompli.
All this is made as simple and straightforward as possible for the benefit of all. If it were too complex, sellers and buyers would hesitate to get involved. The market would suffer. In fact, today’s Lewes listings—especially as they are presented online, on sites like this one— represent a standout example of how technology can make even complicated commercial undertakings easier and more efficient than they have ever been. To find your next home, for instance, you need only check out the current Lewes listings, and then there’s only one other thing you have to do: call me up! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.
Even though national foreclosure rates have continued to drop, the threat of becoming another Sussex County foreclosure statistic is still very real for some homeowners. It’s at least somewhat reassuring to understand that most banks don’t really want a foreclosure — so for homeowners who take an early proactive approach with their lender, losing their home does not have to be inevitable.
For anyone who has fallen behind on payments, Job One is to discuss the situation with your banker. If a mortgage restructuring is possible, you may have an opportunity to refinance at a lower rate with more manageable payment amounts. In some cases, it may be possible to alter other terms of your agreement — for example; you might arrange to postpone any delinquent payments to the end of the loan’s term. You have to ask.
Payment Deferral Options
If payment failure has been caused by losing a job, a medical condition one of the other more common causes, some banks will work out payment deferral options. If you have prepared documentation to back up your hardship claim, it is more likely that the lender will be able to offer an agreement to defer your payments while you get back on track.
If the financial situation is such that you know you can no longer sustain regular payments, it may be best to consider a short sale — the option where the bank agrees to accept sale to a third party for a sum that falls short of the loan’s balance. It means loss of the property, but results in a better credit history than does a Sussex County foreclosure.
A foreclosure in Sussex County becomes inevitable if the reality of a tough financial situation isn’t recognized and addressed. If you take positive steps once you realize you are going to miss a payment, you put yourself in the best position to open options that are less problematic than full foreclosure. If you find you could benefit from a strictly confidential price evaluation on your home, call me — sometimes a property can be worth more than you think!
Savvy shoppers and sellers; don’t sit on the sidelines, call/text 302-228-7871 or email me, Russell Stucki, REALTOR® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.