Listing Courtesy of BERKSHIRE HATHAWAY HOMESERVICES GALLO-L
Recently, the National Association of Realtors® reported the largest number of existing home sales since February 2007— and I expect we will see similar results when this year’s final numbers come in. With more individuals looking to enter (or re-enter) the real estate market, buying a house in Lewes can be expected to continue to be newly competitive.
That does not mean that you should adopt a defensive mindset. Even after finding what looks like a great deal on a seemingly terrific home, it’s wise to keep an eye out for unexpected developments that could make it necessary to walk away from the deal. Some of the situations that usually don’t (but still can) trigger that option:
If the Delaware home inspection uncovers issues that you didn’t know existed, you have several options. The seller may offer to pay for needed repairs, or add a credit at closing. Depending on the extent of the problem, it’s sometimes wiser to simply take the credit and avoid complex amendments that could overcomplicate the contract. But if the seller refuses any concessions, it could be that you won’t be buying a house as quickly as hoped.
A mortgage can fall through unexpectedly. An abrupt change in employment, credit downgrade, or if the bank has trouble verifying income, an underwriter may back away from the table. Most often, financing contingencies in the paperwork will allow you to walk away from the deal.
An unexpectedly low appraisal can make buying a house financially unworkable. When a home appraises for less than the agreed-upon selling price, the bank will not finance. This means the seller will either have to lower his price, or you as the buyer will need to come up with additional cash to cover the difference. You may believe the appraisal is not a fair measure of the property’s true worth (at least to you) — but remember that should you later wish to sell, the next appraisal may not be much higher. In all cases, whenever you contemplate buying a house in Lewes, I’m here to help you reach smart long-term decisions. 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.
In addition to our Independence, the Fourth of July also marks a sort of mid-year pause. Families with kids have by now shuffled them into summertime activities. All graduates have graduated; the gardens have all been started (and some parts of it, even harvested!). This used to be the season for television series reruns, resulting in measurably less TV-watching; but cable programmers have obliterated that notion—and this year, the Rio Olympics will draw much attention back indoors.
But for the most part, the beginning of July marks OTY: the undeniably Outdoor Time of Year. It’s the sunny, healthy time of year; time to get out of the kitchen and see how much outdoor cooking can get done. It just feels healthier—even if there are just as many calories in a burger cooked outdoors as in the kitchen.
For Leweshomeowners who have been telling themselves they would get around to the annual home maintenance chores pretty soon, it’s also the time of year when they are uncomfortably within visual range of many the details that call out for some quality maintaining. A sagging gate that really should be reinforced; paving stones that tree roots are slowly but surely upending—they may not demand attention in December, but—let’s face it—it’s already July!!!
The outdoor features most in need of attention are different for every Sussex County home, but here is a universal maintenance checklist culled from some of the items that commonly deserve attention. They may not be precisely those that warrant your ministrations, but may serve to jog your memory about the ones that make up your own maintenance checklist:
Deck & Patio – when the weather’s clear, it’s prime time for staining (it usually is an annual task—no matter what the label on the can promised).
Pots & Planters —new ones and old ones deserve “feet” beneath them…or any solution that facilitates draining. The surface beneath will benefit—and likely need less attention of its own later on.
Mold — it’s really easy to deal with if it isn’t allowed to accumulate for years. The products that make eradication easy can be found at all Lewes hardware stores.
Drainage — while you’re out in the yard attending to everything else, keep your eyes open for evidence of runoff where it doesn’t belong. Trace it back to the source: if it’s just the beginning of a drainage issue, dealing with it early can save a lot of expensive grief later on.
Windows — pests frequently enter through cracks and openings that develop around window frames. You may need a ladder to be able to spot what’s developing on top, but if needed, a little caulk will keep your home’s “envelope” intact.
A/C — every kind of air conditioner needs to have its filter cleaned or replaced to prevent needless strain on the fan motor. If not July—when?
It feels good to have an annual look-see at how your home is standing up to the wear and tear that the past year has rendered. Once any issues have been dealt with, the rest of the summer will be that much more enjoyable. And on the very practical side, if and when you decide to hand your Lewes home off to a new owner, the financial rewards for having kept it in prime condition over the years will be measurable. I’ll be here in the meantime—standing by to answer any and all questions about our area’s real estate market! Call/Text me Russell Stucki at (302) 228-7871, email me at email@example.com, visit more listings at www.beachrealestatemarket.com.