When looking for a mortgage, Delaware residents may benefit from shopping around for the best price. This is true whether an individual is looking for a new home loan, to refinance a current mortgage or for a home equity loan. Shopping around is beneficial because different lenders may offer different prices depending on what type of lender that they are. For instance, a credit union may offer different terms than a commercial bank would.
During the tail end of 2016, the U.S. residential real estate market exhibited some significant ups and downs. Investors and developers in Delaware may be interested in knowing that even though some of these fluctuations were expected as par for the course, others exceeded what analysts thought might occur.
Whether a Delaware resident is a prospective first time home buyer or not, purchasing real estate is likely a major decision. For this reason, people might be interested in some tips before buying a home.
The winter can sometimes be the best time to purchase residential property in Delaware and around the country. Because many families try to buy homes before the new school year begins, the summer months can be a very busy time in the residential real estate market. A lot of home buyers try to complete their transactions before fall, so the market becomes less competitive after all of them are gone.
Delaware homeowners naturally want their properties to look their best when listing them for sale. Failing to disclose certain issues, however, could cause a buyer to initiate legal action to correct a problem that should have been revealed prior to the sale.
While concerns about the future of the global economy and questions about the residential real estate market in Delaware and around the country persist, wealthy buyers will likely remain fairly active according to a Luxury Portfolio International survey. The real estate company asked wealthy individuals from 12 countries what they thought about the current residential property market, and most said that they remained optimistic despite some misgivings.
In the past, almost every person who sold a home in Delaware used a real estate agent to do it. Sellers understood why the expertise of a real estate agent was important, and real estate agents could charge a standard commission fee without any haggling. Today, real estate agents must explain why they are needed, and sellers are getting big discounts on commission fees.
Delaware homeowners interested in selling their houses could benefit from the 2016 housing market rebound. Sales of single-family homes in the United States are at their highest point since the 2008 housing bubble burst. The Commerce Department explained that sales increased 3.5 percent in June alone, which was significantly higher than analyst predictions. The dramatic increase came after a 6-percent drop in home sales in May.
Delaware residents who are building a retirement portfolio might view commercial real estate as an overly complex investment. Purchasing a property, developing it and renting it to tenants can take a lot of time, not to mention capital. All of the responsibilities that go along with being a landlord may not sound like a recipe for a relaxing retirement.
Some Delaware residential real estate investors may have attended the National Association of Real Estate Editors' 50th annual conference. Professionals from the real estate industry got together to talk about some of the trends that are having an effect on real estate development and pricing.