Real Estate Market

The Daniels Team's News From the Picket Fence

Real Estate Market Trends

houses

Fifty-two percent of home owners say now is a good time to sell in their neighborhood. This is up from 34 percent who said so last year, according to a survey conducted by the real estate brokerage Redfin.

What’s more, 58 percent of home owners believe sellers have more power than buyers in the market right now. Redfin researchers note this is nearly the highest level of seller confidence they’ve recorded.

Take a look at how many sellers successfully sold their homes in July…

New Castle County Real Estate Market Statistics - July 2016

619 single family New Castle County homes sold in July 2016, a decrease of 4.47%. The average sales price declined 3.97% during the same time period. The average days on the market increased by 2 days or 3.77% and the selling price to list price ratio was 97.3%.

Date Homes
Sold
Sold
Price
Days On
Market
SP vs LP
July 2016 619 $260,013 55 97.3%
July 2015 648 $250,076 53 97.2%

 

Kent County Real Estate Market Statistics - July 2016

186 single family Kent County homes sold in July 2016, a decrease of 9.70%. The average sales price dropped 2.10% during the same time period. The average days on the market dropped by 17 days or 18.8% and the selling price to list price ratio was 98.1%.

Date Homes
Sold
Sold
Price
Days On
Market

SP vs LP

July 2016 186 $200,188 73 98.1%
July 2015 206 $204,488 90 96.3%

 

Sussex County Real Estate Market Statistics - July 2016

237 single family Sussex County homes sold in July 2016, a decrease of 10.2%. The average sales price increased 0.85% during the same time period. The average days on the market remained the same and the selling price to list price ratio was 96.7%.

Date Homes
Sold
Sold
Price
Days On
Market

SP vs LP

July 2016 237 $353,187 135 96.7%
July 2015 264 $350,181 135 96.5%

 

Election Update: Americans Want Action On Housing and Credit

Decisions made by the next President and Congress could change the way Americans buy and sell homes for generations to come. Rising prices are making it more difficult for working families and young adults to become homeowners. Government control over the vast majority of mortgages through Freddie Mac and Fannie Mae unnecessarily exposes taxpayers to risk and continue to stifle the innovation of new lending products that responsible borrowers need and want.

More business as usual?

Depending on who is elected this year’s presidential election could either deliver a mandate for Washington to act on far-reaching reforms integral to our system of housing finance or bring more business as usual.

Here are the priorities Americans want the next President and Congress to address, according to a new research conducted for loanDepot, the nation’s second largest nonbank consumer lender: 

* Make homeownership more affordable for middle- and lower-income families (37 percent).

* Keep interest rates low, especially during the first 100 days of the new presidency (34 percent).

* Make more credit available to small businesses (11 percent).

Few see the election improving their pocketbooks

Most Americans expect their personal financial situation to either stay the same or get worse when new leaders take over the White House and Congress. Only 6 percent think that they will be better off as a result of the election.

Each vote counts

One out of every five Americans said the candidates’ housing and finance policies will influence their vote. Another 40 percent have not yet made up their minds. That is because only 9 percent think the candidates have done a good job articulating their positions on the economic issues that affect peoples’ daily lives.

Perception doesn’t match reality

Some 77 percent think it is just as hard or even harder to get a loan today than during the Great Recession eight years ago. Young adults may be more discouraged than most; they worry about not making enough money and nearly half (46 percent) fear the election outcome will make it even harder to get a loan.

In fact, while guidelines have tightened since 2008, applications for purchase mortgages were more likely to be denied in 2008 than in 2014, the most recent year for which Federal Reserve data is available. Denial rates for home purchase loan applications hit 18 percent in 2008, while denials in 2014 topped out at 13 percent. Denial rates for home refinance applications in 2008 were 38 percent and dropped to 31 percent in 2014.

Find out if you qualify for a home loan

Getting into the home of your dreams may be easier than you think. All you have to do is get pre-qualified by the local lender of your choice. Don’t know a lender? Contact us and we’ll be glad to recommend someone.

A+ College Moving Tips

moving

Across the country thousands of students are packing up their childhood rooms and heading off to a new adventure at college. The transition is equal parts exciting and nerve-wracking. The move itself, however, shouldn’t cause unneeded stress.

While college students usually don’t have a lot of belongings that need to be moved, the process can be exhausting and overwhelming, especially if they're moving across the country. Rather than relying on guesswork, take some tips from the moving experts at Penske Truck Rental:

1. Condense and store.
College apartments are small and dorm rooms are even smaller. Leave nonessentials at home and pack only what you'll use on a regular basis. Photo albums, fine jewelry and fragile knickknacks will be safer there anyway. As for what you'll need, colleges typically provide a checklist of essential items that can be used as a guide.

2. Be prepared.
Start packing early and create a running list of items you need to bring but are unable to pack until it’s time to leave. Get sturdy boxes in a variety of sizes plus bubble wrap to protect your fragile items. You’ll also need packing tape and bold markers for labeling and securing boxes. Moving blankets and hand trucks will make the process easier.

3. Mark and group.
Label the outside of boxes as you pack and add a generalized list of what's inside for easy reference upon arrival. Remember to label the box with both your name and a symbol that will help you recognize what's yours. When thousands of students are moving at once, this simple trick can cut confusion quickly.

4. Plan ahead.
When renting a moving truck, reserve it at least two weeks in advance. Because summer and fall are popular times for moves, delaying could leave you without available transportation. Most college students find the 12- or 16-foot truck perfect for moving a few large items or the contents of a small apartment.

5. Drive safe.
When driving, remember that trucks are taller, wider and require more stopping distance than a standard vehicle. Use caution particularly when the truck is packed full. Watch out for low-hanging tree branches and building overhangs, and use extra caution when turning.

6. Stay secure.
To protect your belongings, park in well-lit areas and padlock the rear door, especially if stopping for the night. If possible, back the truck up tight against a building wall to prevent access to the storage area. Unfortunately, thieves take advantage of students on the hectic moving days leading up to the start of the academic year.

7. Keep a document bag.
Keep important documents like registration information and dorm confirmations in a bag in the car with you for easy access. This should also include credit cards, your driver’s license and any other essentials. (BPT) 

Contact Information

Photo of Carol Succarotte Daniels Real Estate
Carol Succarotte Daniels
Partners Realty
17527 Nassau Commons Blvd #212
lewes DE 19958
8008825883
Office: (302)-645-7557
Fax: 8008825883