17080 Apples Way, Milton, De 19968 | $249,000

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Property Details

Well maintained one floor living on peaceful Cul De Sac location in Overbrook Shores. Perfect location, community with boat launch to Red Mill Pond, short commute to the beaches, incredibly low HOA fees and a very affordable price. Well maintained w
  • MLS Number: 730346
  • Status: Active
  • Price: $249,000
  • Property Type:
  • Area: Broadkill Hundred
  • Community: Overbrook Shores
  • School District: Cape Henlopen
  • Square Footage: 1,568
  • Year Built: 1988
  • Bedrooms: 3
  • Full Bathrooms: 2
  • Number of Stories: 1
  • New Construction: No
  • County Taxes: $460
  • Furnished: No
  • Lot Square Feet: 17,706
  • Lot Size Acres: 0.41
  • Water: Well
  • Sewer: Public Central Sewer

Interior Features

  • Heating: Gas - Propane
  • Cooling: Central A/C, Heat Pump(s)
  • Flooring: Carpet, Vinyl
  • Basement: Crawl Space
  • Attic: Floored
  • Appliances: Dishwasher, Dryer-Electric, Exhaust Fan, Freezer, Fridge w/Ice Maker, Microwave, Oven/Range Electric

Exterior Features

  • Style: Rancher/Rambler
  • Construction Type: Stick/Frame
  • Exterior Type: Vinyl Siding
  • Roofing: Composite, Wood/Cedar Shingle
  • Foundation: Poured Concrete
  • Garage: Attached
  • Garage Size: 2

Listing Courtesy of RE/MAX ASSOCIATES

For Sale by Owner Can Be Risky Business!

When you determine to sell your house, one of the first choices that comes up is tactical: do you try to sell it yourself as a Milton “For Sale by Owner” property—or do you enlist a real estate agent? Since your object is to maximize your profit, you might think that most thrift-minded home owners would decide to eliminate the agent’s commission and do the work themselves. But that’s not the case.

The majority of sellers ultimately team up with a Milton real estate agent. Sometimes they go the For Sale by Owner route first, but after testing that method, change courses. The statistics show that the selling price of Realtor®-assisted home sales is higher (a $40,000 difference, according to the latest study) which certainly would explain part of the reason. But other factors come into play, too:

  1. Pricing:  If you aren’t immersed in Milton’s real estate business five to seven days a week, there’s no way you can have the intimate knowledge about the current market that comes with daily work in the field. A real estate agent comes armed with extensive knowledge of the local market and all the changes that have brought it about. It’s extremely important to price your home correctly to sell it on the first go-round. It’s a demonstrated fact that the longer a home sits on the market, the lower its final sale price. 
  2. Time and Energy:   A Milton For Sale by Owner sign in the front yard means you are in charge, 24/7! That’s despite any other demands on your time—for example, your job! One of the benefits of using a real estate pro is that selling your property is our singular focus: our job! It means marketing, networking, working with buyers. Doing whatever it takes to get your house sold is our first priority. Lacking the same kind of time and resources, a For Sale by Owner seller is at a clear disadvantage in the competition to sell houses. It’s a marketplace where one missed buyer can mean the difference between a listing that turns into a sale…and a listing that turns stale.
  3. Objectivity:   The house is yours: you designed or decorated it; you’ve fixed and painted and mowed and swept it. If you took your work seriously, you feel at least some pride in how it’s presented. Unfortunately, that’s a problem. Lacking objectivity in the sales milieu can be one of the biggest hindrances to actually selling your house. It makes it hard for you to negotiate—to see and acknowledge the flaws a buyer sees. And it can make buyers wary of even wanting to negotiate with you in the first place. Either factor can prove costly. Separating owner from sales agent opens communication. It’s a relief for everyone!
  4. Paperwork:   This is the most obvious point. If you choose to wade into the paperwork/deadline process yourself, you’d be wise to count on needing a bit of extra attention from a good real estate attorney—if only to avoid potential litigation down the line.
  5. Security:   It’s unfortunate, but putting your house up For Sale by Owner in Milton (or anywhere) can make you a target. Less-than-honest folks are out there—creeps who may specialize in sellers who might not follow the proper measures for letting people into their homes.

If you are looking into selling your own home this month, I’d like to offer you a complimentary property evaluation. Whether or not you decide to go the Milton For Sale by Owner route, it’s sure to be well worth discussing what to expect from today’s market!

Delaware First-Time Home Buyers Have a Familiar Question

Delaware first-time home buyers in 2014 are faced with a question that hasn’t changed for generations: is it more practical to buy right now, or to continue to rent?

Over the past few years, buying has been the easy choice. Nationally, in 2013 it cost 35% less to own a home than to rent according to that year’s study by real estate website Trulia. That despite rising house prices and mortgage rates. But that was last year, and the experts have been pretty unanimous in predicting that interest rates will continue to rise—ending up somewhere near 5.5% by 2014’s end (per the National Association of REALTORS®).

In the face of higher interest rates and house price tags, will 2014 be the year when renting becomes more affordable than buying?

While first-time home buyers in Delaware are faced with increasing house prices and mortgage rates, renters also find another national trend: higher rents. Rents have been on the rise for the past few years, with continued increases expected throughout 2014. According to Axiometrics, the folks with the latest data, apartment rents are on course to rise by 3.04% in 2014. Research firm Reis puts the expected rise at 3.15%— and both say the causes are the potent combination of tight supply and rising demand. Whenever the economy improves, each incremental gain puts even more pressure on rents—which acts as an offset to any financial benefits of renting versus owning.

Where does that leave our typical Delaware first-time home buyers? Most recently, national averages show it is still about 21% cheaper to own rather than rent. According to the Trulia study, by fall of last year, the earliest tipping point at which it would have become more expensive to own rather than rent would have been expected to occur if interest rates hit 5.2%—but only in San Jose, California—and only if rents had remained fixed (which didn’t happen, even in San Jose). Nationally, out here in the real world, Tulia admitted “mortgage rates will not tip the housing market in favor of renting over buying until rates hit 10.5%...”

Delaware first-time home buyers can be a bit more confident as they take in one more piece of information from the real world of April 2014 (no matter what the experts predicted): over the past few weeks, national mortgage interest rates have been edging down instead of rising! That may well change direction again (probably will), but for now at least, I have to say that it’s a pretty clear call in the spring of 2014: time to get pre-qualified!

That’s the first-time home buyers’ Step One…it also happens to be an ideal time to give me a call!