RADON: The invisible, odorless carcinogen

Delaware Online has a great article on radon today.  I saw it and thought I would pass it along.  It is here. 

As agents, we find radon in a large percentage of homes in Delaware and Southeastern Pennsylvania.  Most people only find it when they are selling their home, after having lived with it for years.  Radon is the second leading cause of lung cancer in the United States, and if you have it you should know now. 

A test to see if radon is present can be performed on any house at a very reasonable cost.  The benefit of not living with it is something that you and your family will benefit from immediately. 

Give us a call if you would like more information on how to go about getting a test performed.  We are here to help.

Marketed by Erik Hoferer & Associates
Direct: 302 299-1111 or 610 268-5727

Real Estate Tip:The Listing Agent

Only approximately 2% of all listings nationwide are sold by the listing agent. When you list your house with me, I will try my best to sell it myself, but more importantly, I will simply get it sold.

Colleagues in my firm or real estate agents who are affiliated with a cooperating broker may sell my listings. This is why I work hard to maintain a reputation for being very professional and easy to work with. I make the homes I list as easy as possible for other real estate agents to preview or show to buyers.

When you select a real estate agent to market your property, you are hiring them not only for their list of prospective buyers, but for their ability to tap the lists of other people in the business. I constantly lobby among my competition, asking if they have seen my listings, getting feedback and urging them to add my listings to the short lists that they show when they have a prospective buyer.

Its Cyber Monday!

Click here for deals!

Its Cyber Monday!  You have until midnight to take advantage of those special deals - all from the comfort of your own home... or office... or favorite coffee shop... or whatever!  Who needs traffic and long lines?

Get going and have fun!

Erik

Small Business Saturday is this weekend!

Small Business Saturday is this weekend, right after Black Friday.  Get out and support your local small business owner!  Check out this page for more information.

Many people don't realize what a huge difference even a small purchase from a local store can have on that business owner's bottom line.  Times are tough for most right now.  This is something you can do to help the economy right in your home town.  I strongly suggest you do it.  You will be glad you did; and so will your neighbor - the business owner.

Wishing everyone a very Happy Holiday!

Erik

100% Financing does still exist in Delaware and Citizens Bank has it!

Click here for more information

Citizens Bank has 100% Conventional Financing with NO PMI!

Many people today that currently own homes have less equity than they did just a year or so ago.  While many are still liquid, the result is that they have less of a down payment going forward into their new home.  Typically that means higher interest rates accompanied by Private Mortgage Insurance (PMI). 

This program offered by Citizens Bank is tailored for just such a situation.  While we all would like to put down as much as possible on our new home, today's economy is forcing everyone to be realistic in their decision making.  Programs like this one are allowing qualified applicants to move forward with reasonable fees and great rates.

Today's rate is 3.875% + 0 points (moderate income) and 3.375% + 0 points (low income).

Of course, there are some restrictions and guidelines.  A brief overview is as follows:

• Owner occupied principal residence only
• Non-occupant co-borrowers are not allowed
• Owning no other real estate at the time of closing- SELLING OLD HOME SAME DAY IS ALLOWED!
• Income limit $64,640/year for moderate income and $40,400/ year for low income in NCCo
• No income limits in targeted census tracts
• Property must in in the State of Delaware
• Max DTI ratio of 45%
• Minimum FICO score of 660 is required
• Home ownership counseling is required prior to closing

Some of the benefits of this program include:

1. Buyers will likely qualify for more house
2. Can be combined with the NCCo and Wilmington Down Payment Assistance programs
3. All the flexibilities of My Community Mortgage Underwriting with Citizens Bank

Call Dave Sorber at Citizens today for more details at 302 421-2233 or click here for more info and an application.  Dave is a great guy, we have used him for years, and you will be glad you called him.

Marketed by Erik Hoferer & Associates
Direct:  302 299-1111 or 610 268-5727

3 options for buying home after short sale

Considering a short sale? Click here

By Tara-Nicholle Nelson

Inman News™

Share This Q: I experienced a hardship two years ago and had to sell my house via short sale. I am now ready to purchase a home but heard I would have to wait another year because of FHA rules. I have been paying my rent on time and my credit is in the 700s. What programs or other options do I have in terms of obtaining a loan? I want to purchase a house for $70,000. --T. Jordan


A: I'm glad to hear that your hardship has passed, and that you've been able to get your finances back in shape. Whoever you've spoken to is correct: There is a three-year waiting period after a short sale before you can qualify for an FHA loan on a new home. As I see it, though, you have three clear options:

1. Wait a year. The fact is, time flies -- and you're only 12 months away from the expiration of the FHA waiting period. Frankly, there are so many homes on the market right now, including an enormous percentage of distressed properties with condition problems and such, that between getting their own financial ducks in a row and house hunting, it is taking many homebuyers more than a year from the time they get started to get into contract, even without any waiting period.

Unless you have an uber-urgent reason to move or are very flush with cash (see No. 2, below), my advice is to wait the year. In the meantime, pay your bills on time -- every time -- and work with your mortgage and real estate brokers to make sure all your other financial ducks are in a row so there are no surprises when your waiting period is up.

2. Get a non-FHA loan. FHA is popular -- especially among those who only have the cash to make the FHA minimum 3.5 percent down payment -- but it's not the only game in town. The vast majority of conventional (non-FHA) loans available from mainstream lenders are insured by Fannie Mae and Freddie Mac.

Both these agencies impose a shorter, two-year, post-short-sale waiting period, as long as the borrower is coming in with a 20 percent down payment. If you wait an additional two years, the minimum down payment requirement comes down to 10 percent, but by then you will qualify for the 3.5 percent FHA mortgage.

3. Plead the case of extenuating circumstances. FHA guidelines do make an exception for the three-year, post-short-sale waiting period for former homeowners/wannabe borrowers who can document that they were forced to do the short sale by extenuating circumstances. The most common fact scenarios that fit the bill are a job transfer to another area (not job loss) or a natural disaster that affected the property (e.g., fire, flood, etc.).

Beyond that, whether a "hardship," to use your terminology, rises to the level of an extenuating circumstance for purposes of qualifying for an FHA loan is up to the discretion of the lender, but things like a job loss, the adjustment of a mortgage or the decline of the home's market value do not count.

If you had, say, an accident or illness that resulted in a temporary disability, it might be worth the effort to plead your case. Speak with your mortgage professional about whether you can make a credible argument in favor of shortening your waiting period.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions." Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.

The six things to consider before 'Going Green...'

 

Click this photo for some great Green ideas!

Clients are all the time bringing up the idea of Going Green at home and it is something that I encourage them to think through to ensure they make decisions that are sound.  The six ideas that follow were recently posted on the Keller Williams Green site, and I thought they were very relevant and useful.  Hope fully you will too!

While cosmetic improvements are always on the wish list, more home buyers these days are placing an emphasis on the energy efficiency and sustainability of their homes.   After all, it’s not only the environmentally responsible thing to do, but a green home translates to monetary savings for the homeowner.

While almost all green ideas look good on paper, there are six things a homeowner should consider before investing in green improvements:

1. Focus on resale value. It’s always a smart idea to think like a seller before making an upgrade or improvement. Real estate agents can play a valuable role in counseling their clients on which green features are in highest demand. One evergreen upgrade that’s inexpensive: low-flow plumbing fixtures. They add value by saving money and natural resources!
2. Keep your climate in mind. Green technologies, such as high-efficiency air-conditioning units, can save a homeowner tons of money, but are they really necessary in locations where you run the A/C only a couple months out of the year? Perhaps in these climates a radiant floor heating system would be a better investment. Don’t get wrap up in gadgetry. Invest in systems and technologies that make sense ―and cents! — in your climate.
3. Get more for less. Sometimes the most value improvement you can make isn’t brand-new technology, but simply reusing materials you already own. A home renovation generates construction debris that doesn’t have to end up in the dumpster. Wood can be ground up for mulch, or masonry can be repurposed for planter boxes in the yard.
4. Embrace the payback principle. The payback principle calculates how long it will take before the improvement you’ve made has paid for itself. The formula is: total cost of an improvement divided by the estimated cost savings per year.
5. Take advantage of potential rebates and incentives. Governmental agencies offer many rebates and incentives for green improvements. In the United States, visit the Database of State Incentives for Renewables and Efficiency (www.dsireusa.org). In Canada, visit www.oee.nrcan.gc.ca/corporate/incentives.cfm or www.ec.gc.ca for information on rebate programs.
6. Weigh now vs. later. What do you want accomplish today, and what will you tackle in a few years? When tackling a project, approach it in a way that sets you up for future improvements with minimal inconvenience. For instance, if you’re building a second story and intend to add solar panels to the roof later, make sure the addition is wired to accommodate the panels down the road.

Is your property getting ahead of you?

Considering a short sale? Click here.

In today's market many local home owners are finding themselves in situations that are undesirable.  If you, or someone you know, is in one of these situations the worst thing anyone can do is not deal with the bank.  They will not simply go away...

Erik is a short sale specialist and has a full time in-house staff, as well as outside professionals, that deal with distressed properties and banks on a daily basis. 

Erik's distressed property web site is www.delawareforeclosurehelp.com 

Register for a personal consultation.  There is no charge and no obligation.

Marketed by Erik Hoferer & Associates
Direct:  302 299-1111 or 610 268-5727

Extreme Pizza is Extremely Awesome!

Kim and I went to Extreme Pizza not long ago and it was fantastic.  Extreme Pizza is in the chic new LOMA section of Wilmington, right on Market Street.  This is a section of the City of Wilmington that is being revitalized and it is looking really great.  There are multiple cafes and shops in the area that are just fantastic.



Parking for Extreme Pizza is across the street in the lot right beside Al's Sporting Goods.  For the city, parking doesn't get any easier than this.  We had the kids with us on this particular evening, and we went right in to a table with no wait - something that I REALLY like to do!

The bar area is very nice and would make a great place to watch a game or meet friends for Happy Hour.

The food was awesome - Extreme in fact!  I highly recommend Extreme Pizza.  It is a great break from the norm!

They also deliver and you can order on line at their site.  Enjoy and tell them Erik sent you!

Erik is Luxury Home Certified...

Did you know that Erik is Luxury Home Certified by Keller Williams International?  He is one of only two agents in the entire State of Delaware with this designation.  When you hire an agent, make sure that agent is familiar with the segment of the market you will be in.  After all, its the agent's job to get you the most value, the quickest sale, and the fewest problems when going through a transaction.  If you are thinking of buying or selling, no matter how big or small, Erik Sells Your Neighborhood. 

Call today!  302 299-1111 or 610 268-5727

Or visit www.eriksfinest.com for more information.

Ryan Homes Premiere Homesite Opportunity at Odessa National

212 Alloway Place is the fantastic Venice Model offering over 2,900 Square Feet of Finished Space.  Boasting 4 Bedrooms, 2 Full and 2 Half Baths, a 2-Car Garage, and a Finished Basement, this home is a tremendous Value.

The large Kitchen offers Maple Cabinets, Granite Counter Tops, a Gourmet Island, Recessed Lighting and Stainless Steel Appliances.  The Morning Room compliments the Kitchen very nicely providing a nice, open feel.

The Family Room features a Gas Fireplace with a Slate Surround. Hardwood Floors extend from the Foyer, through the Kitchen, and into the Morning Room. The Finished Basement in this outstanding property offers a Powder Room with Recessed Lights.

The Owner's Suite has a Walk-in Closet, a Luxury Bath with a Soaking Tub and separate Shower, a Double Bowl Vanity, and Ceramic Tile Floor. 

This Premiere Home Site, and all of the Ryan Homes inventory in New Castle and Kent County, is offered exclusively by the New Construction Specialists at Erik Hoferer & Associates. 

Marketed by Erik Hoferer & Associates

Direct: 302 299-1111 or 610 268-5727

16 Loren Street is ready to go!

Ryan Homes has this brand new end unit home complete and ready to go! Offering 3 bedrooms and 2.1 baths along with over 1,600 feet of living space, this one will not last. Call Erik today for the details. 302 299-1111 or 610 268-5727

Ghosts In The Graveyard at Old Swedes Holy Trinity Church

Evening Ghost Tours of Old Swedes Cemetery, 606 Church St., Wilmington, DE. Old Swedes Cemetery is one of the oldest in cemeteries in Delaware and the United States. Founded by the first Swedish settlers to arrive in The New World on the Kalmar Nyckel in 1638. During the guided tour, you will meet and learn about some of the famous and infamous "residents" that live in this historic place. The tours will be held Saturday, October 22 and October 29 starting at 6:30pm, with tours starting approximately every 30 minutes till 9:00pm.  Click here for more details.

Banks are starting to move on more short sales...

Banks are starting to move on more short sales recently, and that is good for everyone.  A 'short sale' is a sale that takes place while the property is in the pre-foreclosure process, where the bank accepts less than what is owed on the mortgage principal in lieu of foreclosing.  There is a great article on what is happening and how it is impacting everyone around the country here.  I think you will agree, the numbers are somewhat staggering.


Houses that go through the entire foreclosure process sit empty longer, are worth less, and bring down neighborhood values more than necessary in most cases.  Foreclosures are now very much here in Delaware just as they are in other parts of the country.  Many local communities are being impacted directly by homes in foreclosure.


If you know someone that might be in the pre-foreclosure stages of owning a home, please have them call me.  We often can help them save money and time while also lessening the impact of the situation on their personal credit, not to mention the community.

New Listing - 29 Stone Tower Lane

 This fantastic property is Open Sunday, October 16th, from 1-3 PM.

Located in prestigious Augustine Ridge, 29 Stone Tower Lane is a wonderful all brick home that offers location and amenities rivaled only by Wilmington's finest properties.



The kitchen offers 42" cabinets, solid surface tops, and a large island.

Featuring 9-foot ceilings, site finished hardwood floors, large windows and very ample lighting, this property is truly a step above the rest.

The owner's suite resembles the finest hotels. 

The view from the front porch is one of the best in the city.

For more information click here.

Marketed by Erik Hoferer & Associates

Direct: 302 299-1111 or 610 268-5727

Down the Brandywine...

In an effort to take advantage of this fantastic weather we have been having, our family headed out on Saturday morning for an impromptu trip down the Brandywine River in our canoe.  The greater Wilmington Area offers many ways to get out and experience the wonderful outdoors.

We put the boat in the water off of Northbrook Road in Unionville, Pennsylvania.  This spot is located just downstream of the Northbrook Canoe Company.  Here we are just getting started, with a great journey ahead.

This absolutely stunning steel and concrete contemporary home was constructed last year.  We watched the progress during construction and now it is complete.  The property is truly fantastic, with more windows than you can imagine.  This home is truly a work of art.  You may click on the photos for a better

The boys had a wonderful day on the water, taking turns paddling and simply relaxing while enjoying the ride.

The finish line!  Thompson's Bridge is a true local landmark.  Recently rebuilt, the updated bridge is now more beautiful than ever. 

This trip may be too long for some people just starting out canoeing or kayaking.  There are other start and stop points all along the river.  If you decide to head out, do some research, make a good plan, and enjoy yourself.  You will be glad you did!

Erik Sells Wawaset Park...

707 Coverdale Road is a fantastic brick twin in Wilmington's prestigious Wawaset Park. This fine property is in outstanding condition and value priced for today's market.  Featuring hardwoods throughout, updated systems, and a detached garage, this home has it all.  The wonderful sun room is a place where you will want to spend hours reading or relaxing with friends.

Come see it at the open house
Sunday from 1-3 PM!



For more information click here.




Marketed by Erik Hoferer & Associates
Direct:  302 299-1111 or 610 268-5727

Just Listed in North Wilmington!

233 Duncan Avenue is truly a fanctastic example of what living in North Wilmington is all about.  With a location that is close to everything, this classic split-level home offers all of the modern conveniences you have come to expect, at a price that is modest and reasonable.

Come see this one at the Open House this Sunday from 1-3 PM.  Click here for more information.

Marketed by Erik Hoferer & Associates

Direct:  302 299-1111 or 610 268-5727

Just listed in Bear! 327 Skeet Avenue

This fine property is one of the best, most spacious homes in the neighborhood. In true move-in condition, this house is turn-key and ready to go for the new buyer. When you arrive you will notice the fine curb appeal this home offers and want to see more. Once inside, the new and very tasteful carpet and paint will invite you to move forward. The rooms are spacious, and the floor plan is open and functional. The fantastic and ample kitchen opens to the rear patio and fenced rear yard. The yard is flat and useful, perfect for spending those fall afternoons watching the leaves change colors. The first-floor master suite is a feature you will love more the longer you are there. Upstairs, another full master suite awaits guests or family members. Finally, this house has been maintained at the highest level - even undergoing a recent energy audit to ensure maximum energy savings. Come see this one today.

Just Listed in Brandywine Hunt!

More details are located here.  Call Erik for all of your real estate needs.

What is your dollar worth today in housing?

532 Aviemore Drive Townsend Home for Sale - Erik Hoferer & Associates Real Estate

532 Aviemore Drive Townsend Home for Sale - Erik Hoferer & Associates Real Estate

Click photo for more details.

Aviemore at Odessa National continues to be one of the best offerings in today's New Construction real estate market.  Call Erik for more details at 302 299-1111 or 610 268-5727.

How low can you go?

Settlement Assistance pays sellers back with less time on the market...

A simple FYI from Erik... you may do better in this market than you think!

Another listing SOLD!

Received an offer this morning which Erik negotiated into an agreement on the sale of another one of his listings.  VERY happy seller.  Your agent matters.