Tunnell & Raysor, P.A.

TF 800-541-5443
PH 302-396-9645

Trust Us To Be Your Voice | Se Habla EspaƱol

Residential Real Estate Archives

Real estate tips can help move a property quickly

Some Delaware homeowners may be looking to maximize their opportunities to sell their homes quickly. When people first try to sell a house, they may be surprised by how long the process can take. For many sellers, it can take weeks or even months, as carrying costs and other expenses accumulate. In addition, the success of the sale can depend on many factors, including the local real estate market. Some sellers may bring in less than they were hoping to obtain in the sale, while others may find proceeds consumed by associated expenses.

How to maximize the value of a bonus room

Those who are looking to sell a home in Delaware should highlight any finished basement or bonus rooms that a property has. This is because that extra living space could appeal to buyers and increase the property's value. However, sellers will need to properly showcase that extra space in a way that appeals to buyers in specific ways.

Student loan debt may be making it harder to buy homes

Individuals between the ages of 24 and 32 owe roughly $1.5 trillion in student loan debt. This is one of the reasons why young people in Delaware and throughout the country are not buying homes, according to a Federal Reserve study. However, home ownership has been down among all Americans between 2005 and 2014.

How to prepare to buy a home

House hunters in Delaware may benefit from adequate preparation before starting their searches. Doing so may ensure that they find a home that fits their needs as well as a loan that fits their budget. The first step in the process should be to do a credit review, and individuals can get a free copy of their credit report once a year.

How the housing market could look in 2019

The housing market in Delaware and throughout the country is forecast to look different in 2019 compared to 2018. In 2019, the number of available homes is expected to increase while the number of buyers is expected to decrease. Mortgage rates are predicted to rise over the course of 2019, which may mean that some people will still be unable to afford their desired homes. Of course, fewer buyers and more inventory could mean less competition for those in the housing market.

Why winter may be good for home sales this year

In most years, homes in Delaware tend to move slowly during the month of December. However, in 2018, that may not necessarily be the case. This is because many buyers are wary that interest rates are going to continue climbing throughout 2019. Currently, interest rates are just below 5 percent. As a lack of inventory has caused housing prices to increase rapidly, interest rate increases may result in significantly higher mortgage payments.

Negotiating the terms of a home purchase

There are many different items that can be negotiated when buying a home in Delaware or any other state. For instance, it may be possible for a buyer to ask a seller to contribute to the closing costs. Generally speaking, closing costs equal up to 5 percent of the cost of the home. These costs can be covered upfront or provided to a buyer in the form of a credit.

Housing market likely to calm down for buyers

Increasing home prices have allowed current homeowners in Delaware and throughout the country to accumulate new wealth. However, for those who were looking to buy their first homes, the rapid appreciation was pricing them out of the market. Recently, increasing mortgage rates have played a key role in making homes more affordable. As market conditions cool, buyers have been able to avoid bidding wars or ask that sellers pay closing costs.

How to coordinate a sale and purchase at the same time

For many Delaware homebuyers, it's necessary to buy and sell a property at the same time. While this needs to be planned in advance, it can be done in a relatively smooth manner. It's generally easier to sell first before buying a new home. In such a scenario, it may be a good idea to put contingencies into the purchase offer.

Millennials bringing technology to real estate purchases

Millennial homebuyers in Delaware and other parts of the country are changing the way real estate purchases and transactions take place. It wasn't long ago that no self-respecting homebuyer would make a decision about a home without physically visiting the property. Today, younger, tech-savvy homebuyers are fully embracing virtual reality tours and the use of mobile apps to apply for mortgages and complete new home purchases.