Delaware Bike Route 1... Did you know...?

Recently I stumbled across this road route completely by accident.  Delaware Bike Route 1 is a bike route that connects the top of the state to the bottom.  From Yorklyn to Bethany and beyond.  It is marked by those little green signs with a bike logo and a number 1 emblazoned on it.  I have seen them for years and had no clue.  Those signs seem to be everywhere once you start paying attention.  For a description of where the route actually runs click here.

Did you know that Delaware was just ranked the 4th most bike friendly State in the Union?  That is up one tick from last year when we were ranked 5th.  That is not too shabby for a little state where there is not much to do.  Wait, did I just say that?  Did you know that we have some of the best roads and mountain bike trails for hundreds of miles around?  I am not puffing here - some are world class!

The older I get the more I am getting back to riding my bike (or, as my wife likes to point out, bikes...)  Did you know that riding your bike is actually good for you?  Who knew?  Its actually even fun when you get out and ride with friends, albeit you have to be into suffering a bit when you start riding with faster groups.  To top it all off, it makes me feel like a kid again.  Who doesn't love that?

Real Estate Tip:Clean Contracts

"Clean" is a term that is often used to describe an offer on a house. A "clean" offer does not refer to the price of the house, but to the terms of the agreement. If you really want a particular house, the "cleaner" you can make your offer, the better.

What are the characteristics of a clean contract? A contract is considered "clean" when the buyers are paying cash or are clearly qualified for a mortgage, the sale isn't contingent on the sale of another home, the buyers don't ask the sellers to carry any of the financing, and if the closing date coincides with the sellers' needs. A clean contract doesn't have any unusual requests for repairs or insistence that certain articles convey that would not ordinarily stay in the house. A clean offer has an important competitive edge if you are offering less than full price or if you are in a situation where there is more than one offer on the property.

Real Estate Tip:Hard Sell

Many real estate listings come from individuals who thought they had sold their homes. Sellers who try to sell their own home learn the hard way that selling a home is not easy. Keeping it sold and getting to the closing table is even more difficult. What are the pitfalls involved in selling your own home?

Face-to-face negotiations can be difficult, even when the buyer really wants the house. Then there is the paperwork. Standard contract forms rarely cover all of the local requirements regarding disclosure laws. Such contracts may provide loopholes which could allow a buyer with cold feet to back out at the last minute.

When you have finally come to an agreement, how can you be sure that your buyers will engage competent professionals to handle their loan and complete the closing? What if structural problems are discovered or property boundary problems are revealed? The experience and expertise of a professional real estate agent is your greatest asset in concluding a successful transaction.

Delaware Today Bridal Show

The Delaware Today Bridal Show is coming, ladies.  Make your plans and get your tickets!

More info is here.

How Can My Agent Help Me During a Short Sale?

If you wish to short sell your home, your agent is your best asset. As soon as you fall behind on mortgage payments and the threat of foreclosure sets in, talk to a compitent real estate agent with a track record of success about getting help with a short sale. Before hiring any agent, ask about the process and their experience in closing similar transactions.  If you are not impressed with what is described, move on until you find the right agent. 

When applying for a short sale, your lender will require some documentation from you proving your financial hardship and your inability to pay your mortgage. (The documentation varies by lender.)

After you gather this information, there will be a considerable amount of of short sale follow-up and paperwork. This is where your agent comes in. Your agent will be an asset by managing the file through the different departments within the bank. Once you turn the sale over to them, they can shoulder the work for you in obtaining an offer and negotiating on your behalf. 

Marketed Exclusively by Erik Hoferer & Associates
Direct: 302 234-1111 or 610-268-5727

Now Selling Biggs Farm

Ryan Homes has announced the new community of Biggs Farm

Pardon the pun, but this is a BIG deal.  The only opportunity to own an estate home on a ¾ acre home site in the Appoquinimink School District.  Biggs Farm consists of only 20 home sites many of which back to trees or are on a cul-de-sac. All floor plans in this small community include side entry, two car garages and feature Energy Star 3.0 Certification.

With seven models to choose from, and entry level pricing well under $300,000, this project represents a outstanding value in today's market place.  Additionally, the location, which is just south of the Rt. 896 C&D Canal Bridge, ensures that demand for these homes will be very high.

This community will sell out in weeks.  If you, or someone you know has interest, call Erik for more information. 


Marketed Exclusively by Erik Hoferer & Associates
Direct:  302 234-1111 or 610-268-5727

Bike for Mike's Kids

Jim Seuffert is raising money for Wilmington's youth with a cross-country bike ride.

I just came across this and had to share it.  This is impacts many of the children right here in Wilmington, and it is happening right now.  Make a donation if you can.  I guarantee you will feel great for the rest of the day if you do!

Jim’s BIKE FOR MIKE’S KIDS honors the late Mike Clark by aiming to raise the final $70,000 needed to create the Mike Clark Skills Center. This center will serve over 230 children at the Clarence Fraim Boys & Girls Club in Wilmington. The vision is to create a space conducive to learning that will help bridge the academic, social, and technological gap that the kids currently face.

On September 14, Jim Seuffert embarked on a bike journey across the United States, from the West coast to the East coast. He will cover 3,100 miles in forty-one days.  You can track his progress through the daily blog posts here. 

Make a difference in a local child's life today and donate here.  Skip Starbucks and do something that will make you feel really great instead.  You will be glad you did!

Price Changes at Goldsborourgh Farm...

Ryan increases their value proposition yet again!

In an effort to stay at the forefront of what is happening in today's real estate market, Ryan homes as reduced the prices of their offerings at the community of Goldsborough Farm. With great activity and a strong sales record, this community now must command the attention of buyer's in the Middletown and Townsend area.

Goldsborough Farm represents the best value for a single family Estate Home located within the Appopquinimink School District. Stop by today to check it out. 

Call 302 234-1111 for more information.

Marketed exclusively by Erik Hoferer & Associates
Affiliated with Long and Foster Real Estate

Ryan's Enclave at Odessa National

One of the best values in New Castle County...

Ryan Homes is about to announce that they have 48 new building lots available in this fine community, representing the best priced Estate Homes in the Appoquinimink School District.  Lots coming available are larger than comparable communities at this price point, with different locations offering woods, open space, and cul-de-sacs. 

With an entry level price point of $259,900, Ryan is offering five different models at Enclave, most allowing buyers to stay under the $300,000 mark when complete and ready to go.  As an added incentive, Ryan will be offering a free finished basement on all new contracts. 

Enclave at Odessa National is located just off Route 13, south of Odessa.  It is in close proximity to the Odessa National Golf Course, but there is not a golf course fee or forced membership to the club, so it should appeal to everyone regardless of whether or not golf is part of your lifestyle. 

Only some of the fine amenities include:

• Up to 4 bedrooms and up to 4 ½ bathrooms
• 2-car garage
• Luxurious single-family homes featuring 3 stories, spacious floor plans and today’s most sought-after features
• Custom options include a morning room, finished basement, luxury owner’s bathroom, bonus room, brick, partial stone or stucco front, hardwood and ceramic floors, gourmet kitchen with stainless steel appliances, fireplace and more
• Appoquinimink School District
• Minutes from Route 1 and 13 with easy access to Wilmington, Philadelphia and the Delaware Beaches
• Energy Star Qualified

For more information, please call Erik Hoferer & Associates directly at 302 234-1111 and we will be very happy to help you with your real estate decisions. 

Marketed exclusively by Erik Hoferer & Associates
Affiliated with Long and Foster Real Estate

Fifth Annual Food Fight at The Riverfront...

March of Dimes Annual The Farmer & The Chef 2012

It's the homegrown cook-off that you get to judge!

Local farmers and area chefs whip up the tastiest competition of the year.

The premise is simple, pair local farmers with local chefs. While the event is a fundraiser for the March of Dimes, we also hope to help create sustainable relationships between farmers and chefs while reinforcing the movement of healthy eating.

Attendees will also be able to cast their vote for their favorite dish. Included in the evening's festivities are a silent auction and basket auction.

The event takes place on Thursday, September 20th, at The Chase Center on the Riverfront.  Tickets are available online for $40 here. 

NEW this year - to help celebrate our 5th anniversary we are having a Winner's Challenge featuring past winners of the People's Choice award. This Challenge will be judged by our celebrity panel. This promises to be exciting!

Can you trust your home inspector...?

Suspicions arise over inability to prove ASHI membership
                              
By Barry Stone

Inman News®

DEAR BARRY: Before I bought my home, I hired a professional home inspector, but he did not do a very thorough job. This week I asked him to show proof that he is in good standing as a member of the American Society of Home Inspectors (ASHI). But he has refused to provide any documentation. Do I have any recourse against this inspector? --Andrew

DEAR ANDREW: If the home inspector claims to be a member of ASHI, you can verify this by visiting the association's website at www.ashi.com. Click on "Find an Inspector" and type in his name. He either is or is not a member. However, home inspector associations such as ASHI do very little in the way of policing the professionalism of members. Unless someone fails to pay dues or does not participate in ongoing education, it is unlikely that the membership status would be adversely affected.

The main issue is whether your inspector performed a thorough inspection. If there were defects that he did not report, he should respond to your concerns. If he is dodging you, that is a more serious issue than whether he is a member of an association. If the inspection was substandard, the inspector should respond to your concerns by reinspecting the issues at hand. If he is unwilling to stand behind his work, you probably should have another inspection by someone who is truly qualified. A second inspection report can be used to support a case against the first inspector.

Real Estate Tip:Qualifying Guidelines

It may be difficult to qualify for a home mortgage loan. As a buyer, you may find the perfect home, but finding the perfect financing might become elusive. After you complete the application process, your lender may turn you down, which is an upsetting development for any prospective homebuyer. What can be done to remedy such a setback?

The answer depends on why you were turned down. If your income is too low to satisfy one mortgage company, there might be another company with more liberal qualifying guidelines. If you have had credit problems, some lenders may be more willing than others to help you clear them up in a manner that satisfies their underwriters. If your loan runs into problems, sit down with the loan officer and your real estate agent to investigate the possibility of using a different lender. The first company may be able to "assign" the package to a competitor, enabling you to use your same credit report and appraisal. You will need the cooperation of your sellers, too.

While loan rejections are disappointing, they can be resolved.

The Wilmington Grand Prix is this weekend!

Date	May 18, 2012 to May 20, 2012
Description	Wilmington Renaissance Corporation (WRC), the City of Wilmington and their many partners once again bring professional cycling to the streets of Downtown Wilmington with the Wilmington Grand Prix. In six years, the event has grown from a regional bicycle race to one of the premier cycling events in the country. The 2012 Grand Prix is set for May 18-20 with three days of festivities. The action opens on Friday, May 18, with the return of the Monkey Hill Time Trial, a 3.2-mile race against the clock through Wilmington’s Brandywine Park, a course made famous by the Tour DuPont. The action continues on Saturday with a series of men’s and women’s pro-am criterium races along a one-mile course in Downtown Wilmington. Sunday will feature the Governor’s Ride, a 15-mile cycle tour of Brandywine Valley cultural attractions. Governor Jack Markell will lead a recreational bike ride through attractions such as the Delaware Art Museum, Hagley Museum, Winterthur Museum and Country Estate, Delaware Museum of Natural History and Rockford Park. The ride will finish with a party in the sculpture garden at the Delaware Art Museum. New this year is the Wilmington Grand Prix Gran Fondo, a 100-kilometer course traversing 11 cultural attractions featuring two timed climbs and a hilly terrain. The course will be challenging and fun with unprecedented access to ride through Dupont estates and attractions. Saturday’s activities begin at noon with the 3nd annual Parade to Fight Hunger, a parade featuring marching bands, vintage bicycles, drill teams and more than 40 organizations that actively support the Food Bank of Delaware. The racing action begins at approximately 11:30 a.m., with men’s and women’s racing in a variety of professional and amateur categories. A series of youth races will also be held. In addition to the racing action, the Grand Prix Street Festival returns, offering free family entertainment from the 5th Street to Rodney Square. Activities include live music, sidewalk sales, course-side cafes and variety of family games and activities including moon bounces, rock climbing, bungee jumping, fitness challenges, bike expos and more.
Location	Wilmington, DE
Additional Information	Website: www.wilmgrandprix.com

Real Estate Tip:Selling Selling Sold

Although your real estate agent is responsible for marketing your property, it requires a joint effort to get your home sold.

How can you empower your agent? It is very important that you feel absolutely confident in your agent's ability to produce results--no matter what the market is like in your area! This may sound like stating the obvious, but it is important to let your real estate agent know you trust them to get the job done. Support that trust by putting a realistic price tag on the property and keeping it in prime showing condition. Work out showing agreements that will make it easy for agents to preview or show your home. Meet periodically to discuss any feedback from buyers who have seen your home to determine how you can improve its appeal.

Don't hesitate to share any ideas you may have about marketing your home. I will try anything that works, and have received some very good suggestions from clients.

Quick Delivery Home in Hickory Hollow!

Ryan Homes has a rare quick delivery home available in Hickory Hollow!  This is new construction without the wait.  Call Erik today for more information.

Some of the features and options included are:

·         Elevation A with Siding

·         Four bedrooms with 2.5 baths

·         2-Car Garage

·         2,980 square feet of living space

·         Finished Basement with three-piece plumbing rough-in           

·         Morning Room

·         42” Maple Espresso Kitchen Cabinets and Gourmet Island

·         Stainless Steel GE Appliance Package including Range, Microwave, Dishwasher and Refrigerator

·         Gas Fireplace with Slate Surround

·         Luxury Owner’s Bath with Double Bowl Vanity and Upgraded Maple Espresso Cabinets

·         Hardwood in Foyer, Powder Room, Living Room, Kitchen, Morning Room and Family Room

·         7 ceiling fan rough ins

·         Guardian Technologies Security System

·         Second Floor Laundry Room

·         9’ First Floor Ceilings

Total Sales Price:                               $277,995

Total Savings:                         ($18,005)

NEW SALES PRICE:  $259,990*

For more Information please call Erik Hoferer at 302 299-1111

*When utilizing NVR Mortgage.

 Prices and incentives subject to change without notice.

Legacy at the Village of Fox Meadow

Ryan Homes is introducing another great community in New Castle County.

Call Erik for all of the latest details at 302 299-1111.

Real Estate Tip: Know Your Price Range

As a homebuyer, you may have found the perfect new house for your growing family, but what if it is a little out of your price range? You might list your current home for more than it is worth and be lucky enough to find a qualified buyer who is willing to pay the price, but it is impossible to know in advance what your home will sell for.

If you want to sell your home quickly, have a frank and detailed conversation with your real estate agent to determine the best price for the house. Setting your price within 5% of the fair market value of your home greatly increases your chances of getting solid offers that will result in a relatively quick sale.

Don't buy and sell so close to your target amount that you become anxious when the numbers don't meet your expectations. There may be other approaches, such as adjustable rate mortgages or owner financing, to increase your buying power and get you into that new home. When you are selling one home and buying another, you will need more than good luck. You will need a highly professional and experienced real estate agent who can give you solid advice on how to make the transaction work for your particular requirements.

Real Estate Tip: No Problem

 There is no doubt about the fact that it could be more difficult for you to get a mortgage loan if you are a free lance viola player than if you are a government accountant. Traditionally, lenders have been more cautious when evaluating loan applications from buyers who are self-employed than from those who work for a regular salary.

If you are self-employed, there is no reason for you to shy away from applying for a home mortgage loan, especially if your earnings have been in the same field for at least two years. Before you begin your search for a house, it is a good idea to meet with an agent of your choice who will be happy to accompany you as you meet with one or more loan officers. They will probably want to analyze your tax returns for the past 2 or 3 years. Because people who are self-employed can write off many expenses that salaried individuals cannot, it is possible that self-employed individuals may look impoverished on paper. Try to get pre-approval from the lender, and ask for a letter to that effect which the real estate agent can attach to any offer you submit on a home. This will make you look more attractive to the sellers.

People matter...

This story in Realtor.com about the founder of forsalebyowner.com selling his own personal home through a real estate agent made me smile and think about how far this industry has come in the last 10 years or so.  The only thing that is constant in life is change, but what always holds true is that people make a difference in where you end up when it is all said and done.  No web site will ever take the place of a strong local expert that can account for nuances in the market with real life experience and a pure gut-feel.  I don't just feel this way about real estate either.  I think it is true in many industries where market pricing is widely unregulated. 

Some time ago a friend of mine did some research on the accuracy of Zillow's Zestimate (not sure it that is spelled right...) for home value.  I have nothing against that web site, and frankly think there are times when it is a very useful tool.  At that time however, their own disclaimer said there actual published value for any particular home in New Castle County was generally within 20% of the actual sale price 50% of the time.  Surprised? 

When you hire a Realtor to get your home sold, the 'sold' part is the end point in the process.  Establishing fair market value, and actually obtaining that amount from a qualified and motivated buyer is typically the largest part of the process where the true value in the service is conveyed.

Real Estate Tip: Interior Decorating

Many people recognize a decorating style they like when they see it, but they find it difficult to combine colors, fabrics, furnishings and window treatments to create the total finished look they want.

Where can you find a good decorator? If you like the interior of your friends' home, ask them for recommendations. Many communities have decorator showcases where you can see first hand the work of several local designers. Furniture retailers sometimes hire professionals to assist their customers.

Before you commit to working with a designer or decorator, sit down and discuss your taste and goals, their fee structure, and your budget. Pay particular attention to whether the person is an active listener and communicates well. Whether you are trying to make your home look wonderful in order to sell it or want to fix up a new home, the investment in professional advice can save you costly mistakes and make your home a reflection of your good taste.