31308 Topsail Drive, Lewes, De 19958 | $469,990

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Property Details

The Southampton offers the convenience of a first floor owner’s suite with guest bedroom & study. The open kitchen with morning room overlooking the great room is an entertainers dream. The designer kitchen includes large granite island, abundant c
  • MLS Number: 731553
  • Status: Active
  • Price: $469,990
  • Property Type:
  • Area: Lewes And Rehoboth Hundred
  • Community: Marsh Farm Estates
  • School District: Cape Henlopen
  • Square Footage: 3,340
  • Year Built: 2018
  • Bedrooms: 4
  • Full Bathrooms: 3
  • Number of Stories: 1
  • New Construction: Yes
  • County Taxes: $1,600
  • Association Fee: $2,700
  • Furnished: No
  • Lot Square Feet: 10,890
  • Lot Size Acres: 0.25
  • Lot Description: Landscaped, Partially Wooded
  • Water: Public Central Water
  • Sewer: Public Central Sewer
  • Community Amenities: Community Center, Fitness Center, Lawn Care, Pool-Outdoor, Sidewalks

Interior Features

  • Kitchen: Countertops - Granite, Eat In, Island, Pantry
  • Fireplace: Gas
  • Heating: Gas - Propane
  • Cooling: Central A/C
  • Flooring: Hardwood, Tile
  • Basement: Crawl Space-Conditioned,Sump Pump
  • Attic: Access Only
  • Security: Gated Community
  • Appliances: Cooktop, Dehumidifier, Dishwasher, Disposal, Fridge w/Ice Maker, Garage Door Opener, Microwave, Oven-Wall, Range Hood, Washer/Dryer Hookup Only, Water Heater Tankless
  • Interior Features: Bedroom-Entry Level, Cable TV Prewired, Fireplace-Gas, Insulated Window(s), Insulation, MBED-Full Bath, Screen(s), Walk-In Closets

Exterior Features

  • Style: A Frame,Coastal
  • Construction Type: Stick/Frame
  • Exterior Type: Stone, Vinyl Siding
  • Roofing: Architectural Shingle
  • Foundation: Poured Concrete
  • Garage: Attached
  • Garage Size: 2
  • Parking: Driveway/Off Street, Garage
  • Exterior Features: Irrigation System

Listing Courtesy of KELLER WILLIAMS REALTY

Lewes Readers find Real Estate Opinions Unanimous Almost Real

 

Lewes’s real estate picture usually differs little from that of the nation as a whole. The latest rumblings from the mass media and web continue to bolster the picture of rising values and quickening activity—a sweet story with nary a sour note. In fact the unanimity of voices from almost every corner of the country is a story in itself. There was just one exception.

Some samplings Lewes readers would have found in the past week’s real estate news and opinion—

  • From the Associated Press, we learned that “prices are soaring” in some cities, and that they rose in all 20 cities polled. The pace of existing home sales rose to the “fastest pace since February 2007.”—roughly what might be expected in a healthy housing market. The AP attributed at least some of the reason for the real estate price rises to widespread predictions that the Federal Reserve may start raising short-term interests rates sooner rather than later.
  • From Dan Green’s Mortgage Reports, the home value increase was illustrated in a multi-colored chart, which showed sample cities’ rises at anywhere from 1%-11%—with most clumped between the 4%-6% lines. Freddie Mac was quoted as pegging the average 30-year mortgage rate at below 4%, with VA and FHA mortgage rates even lower. Their opinion was straightforward: “It’s an inexpensive time to finance a home.” Since historically “mortgage rates average nearer to 8:25%,” that opinion is hardly a stretch!
  • Headlines from CoreLogic’s latest Home Price Index Report were “Home Prices Rose by 6.5% Year Over in June 2015” and “HPI Forecast Projects 4.5%” rise for the coming 12 months. CoreLogic’s nationwide real estate numbers are among the most reliable—whereas some of the government numbers sometimes have to admit regular later revisions, it’s not usually the case for them.
  • Surprisingly, town observers would have had to go to the National Association of Realtors® site to find what at first sounded like the only sour note to be heard—yet it, too, had a sweet finish. “Pending Home Sales Dip in June” headed the last week’s news release. You had to read the fine print to learn that the pending sales were 8.2% higher than a year before, and that although they dipped slightly from May’s number, they were still the third highest reading in 2015…and marked the tenth consecutive monthly year-over-year increase!

Strengthening real estate prices have continued to bolster a solid summer selling season. If you are interested in exploring the Lewes market as a prospective buyer (or as a seller), the climate continues to be inviting. Good reason to give me a Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com.

More First-Timers May Enter the Lewes Housing Market

You don’t need real estate statistics or government bureau reports to sense that first-time home ownership rates have been in the dumps for a while. Lewes housing figures have too few transactions month-by-month to draw many conclusions about sustained trends in home ownership here—yet it’s evident that for young adults everywhere, the glacial recovery in the economy combined with factors like student debt have made it particularly difficult for most of them to move from renting to owning an Lewes home.

  Despite the new year’s opening burst of worrisome economic headlines, nationally, when it comes to house ownership trends, there seem to be spots of good news. One with that focus came out of Fannie Mae at year’s end, courtesy of their Housing Insights publication. It wasn’t exactly a barn-burner. The excitement level, on a scale of 1 to 10, would have weighed in at maybe a 2. But for young adults who find their personal financial outlook is a square peg when it comes to the round hole of buying a first Lewes home, any improvement in the outlook would be progress.

 That this particular improvement was less than breathtakingly good news was signaled by the headline. It came in the form of a question: “Could the Long Decline in Young-Adult Homeownership Be Nearing an End?” Fannie asked (possibly hoping the readers would supply more information). The reason for the indecision was clarified in the article’s Summary, which stated that the researchers had prepared several projection scenarios for young-adult housing ownership. These showed that ‘strong underlying population growth trends’ demonstrate how even small improvements in those trends “could generate increases in young owner-occupants in coming years.”

In other words, if there are more young adults, there might be more young adult homeowners. Not stated was how long it took the Sherlocks on the research staff to come up with that finding.

In case this sounds silly, it’s actually not quite that bad. During the worst years of the housing bust, the number of young homeowners decreased despite the fact that their proportion of the population grew…so the projection might indicate an end to that negative momentum. That decline has in fact slowed gradually…but in the three projections made by the Census Bureau, one shows continued decline, the next a slight increase, and the third, a robust increase (twice that registered during the housing boom). For the big question: which of the three is most likely to occur, the answer is (wait for it):

It’s difficult to predictbut stability or modest improvement in homeownership is certainly plausible.”

That might have raised the excitement level to about 3—especially here, where the Lewes housing picture does in fact include properties that are great fits for first time homeowners. With home loan interest rates still enabling extremely doable monthly mortgage payment numbers, even some of those young adults who think their financial square pegs can’t fit the homeownership round hole might learn otherwise. The way to find out? Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com.