Last Wednesday and Thursday’s stock market nosedive had analysts debating whether the Fed’s hike in interest rates was to blame. Since Lewes, DE mortgage rates are likely to also be affected, local selling-minded homeowners might well have begun to wonder whether we are headed into a less-than-favorable selling environment.

If so, would listing your home now make sense? Would holding out until lower Lewes, DE mortgage rates reappear be worth the wait? The benefit to potential buyers would be immediate: more affordable monthly payments for the same asking price.

Ultimately, the answer to that timing question will always be uncertain, but one clue can be found in the history of mortgage rates in recent decades. According to the Freddie Mac’s mortgage rate archive, that history leads to an unambiguous conclusion:

 30-YEAR MORTGAGE INTEREST RATE AVERAGES

2000s:  6.29%

1990s: 8.12%

1980s: 12.7%

1970s: 8.86%

Putting it all together, the previous 40 years produced average mortgage interest rates just shy of double digits: 9.9%, to be precise! Even after the latest Federal Reserve action, last week’s national 30-year rate “jump” was to only 4.9%. With Lewes, DE mortgage interest rates currently at less than half of what U.S. home buyers have been willing to pay in past eras, it turns out that we are still in the midst of a decidedly friendly environment for buyers—which makes it seller-friendly territory, too.

There can be many reasons why a homeowner may decide to put off listing their home, but today’s Lewes, DE mortgage rates shouldn’t be one of them. I’m happy to offer a no-obligation rundown on the outlook for this fall’s market—and how your property might fit into that picture. Call me if you’d like to chat! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com

 “Millennials are buying homes!

This was what The Dallas Morning News reported last week—but Ocean View, DE homeowners didn’t need any Dallas real estate to be interested in the statement. It was based on data from all across the country.

Millennials (anyone born between 1981 and 1997) made up 34% of homebuyers last year—"more than any other age group” according to the National Association of Realtors®. Ocean View, DE homeowners probably found that surprising, given all the contrary news that’s been long reported about the group. The stereotype had it that the whole pack of “plastic straw-hating snowflakes” were going to be doomed to a future of nothing much more exciting than avocado toast feasting in their permanent quarters (i.e., their parents’ basements).

Particularly for Ocean View, DE homeowners whose properties fall into the starter home category, those assumptions about the entire millennial generation—that they might never even aspire to a home of their own—have been disconcerting. If legions of younger folk drop out of line in the traditional progression of residential ownership, that would constitute a monkey wrench in the whole economics of home ownership. And there had been some evidence that this was in fact taking place…

The latest reports brighten those gloomy suspicions. The non-profit Urban Land Institute finds that millennials have very different plans. Perhaps partially due to the current brightening economic picture, something like 70% expect to live in a single-family home—within a couple of years!

But current Ocean View, DE homeowners who look to attract younger buyers might also be wise to note a few changes in some millennial preferences. Many “want community, connectivity and inclusiveness”—translation: the concept of walls and gates “is completely inverted.” Another factor impacting many millennials is an unprecedented level of student and car loan debt, which tends to make them even more cost-conscious than prior generations.

As for the millennial buyers themselves, when it comes to buying Ocean View, DE homes, since “they grew up on the internet,” relying on Realtors might at first seem less of a necessity. But seeking expert guidance in ferreting out and negotiating the best buys among today’s Ocean View, DE home offerings is still the majority’s heads-up move.

Millennial or not: give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com

 From the home sales analysts at Pulsenomics comes the latest findings on how home sellers are likely to fare if they decide to list their properties this autumn. Our South Bethany, DE market is only one data point in national surveys like this one—but Pulsenomics has a history of accurately zeroing in on the direction of real estate activity. For South Bethany, DE homeowners who are exploring selling their house anytime within the next few years, that’s worth checking out.

The major points covered in their most recent release:

·         Home value appreciation has improved in 2018 over 2017, with a predicted growth by year’s end of just shy of 6%. Since that’s the bottom line demonstration of the continuing investment value of owning your own home, it keeps home sellers in the power position in negotiations.

·         The speed of that same appreciation has begun to slow in more than half of the nation’s metropolitan markets—suggesting that the days when sellers hold the upper hand may be numbered.

·         Appreciation in home values remains above the historical average.

·         Inventories at the most affordable price points continue to lag—another factor which encourages selling.

The report is a compilation of the opinions of more than 100 real estate economists and experts whose overall prediction is that sellers’ market conditions will likely continue in most places through 2019; then possibly tilting toward buyers at some point in 2020.

The character of the real estate market is one factor that helps homeowners decide if conditions are favorable for selling their house. Another is the actual data—the recorded sales for similar homes in the immediate vicinity—the “comps.” I’ll be happy to share an in-depth a look at how properties similar to your own have been fared recently (with no obligation, of course). Just give me a call! Call/Text me Russell Stucki at (302) 228-7871, email me at This email address is being protected from spambots. You need JavaScript enabled to view it., visit more listings at www.beachrealestatemarket.com