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.

Mortgage rates probe new lows...

By Inman News
Inman News®

Mortgage rates plunged to new all-time lows this week as investors in bonds that fund most home loans reacted to news that the economy grew more slowly than expected during the last three months of 2011.

Freddie Mac's weekly Primary Mortgage Market Survey showed rates on 30-year fixed-rate mortgages averaged 3.87 percent with an average 0.8 point for the week ending Feb. 2, down from 3.98 percent last week and 4.81 rcent a year ago. That's a new all-time low in Freddie Mac survey records dating to 1971.

Rates on 15-year fixed-rate loans averaged 3.14 percent with an average 0.8 point, down from 3.24 percent last week and 4.08 percent a year ago. Rates on 15-year loans have never been lower since Freddie Mac began tracking them in 1991.

For five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.8 percent with an average 0.7 point, down from 2.85 percent last week and 3.69 percent a year ago. That's a new low in records dating to 2005.

Rates on one-year Treasury-indexed ARM averaged 2.76 percent with an average 0.6 point, up slightly from last week's record low of 2.74 percent. At this time last year, the one-year ARM averaged 3.26 percent.

"Most mortgage rates eased to all-time record lows this week as fourth-quarter growth in the economy fell short of market projections," said Freddie Mac chief economist Frank Nothaft in a statement. "The gross domestic product rose 2.8 percent in the final three months of 2011, below the market consensus forecast of 3 percent, while consumer spending in December was flat. One bright spot, however, was that fixed residential investment increased for the third consecutive quarter and residential construction spending rebounded in December, rising 0.7 percent."

Looking back a week, a separate survey by the Mortgage Bankers Association showed demand for purchase loans was down a seasonally adjusted 1.7 percent during the week ending Jan. 27 compared to the week before. Demand for purchase loans was down 4.3 percent from the same time a year ago.
Requests to refinance accounted for 80 percent of all mortgage applications, down from 81.3 percent the week before.

"The Federal Reserve surprised the market last week by indicating that short-term rates were likely to stay at their current low levels until the end of 2014," said MBA chief economist Michael Fratantoni in a statement. "Longer-term Treasury rates dropped in response, and mortgage rates for the week were down slightly as a result."