The government thinks that Americans are sorely lacking when it comes to key homebuying information. It’s hard to say whether that’s true of the Bethany Beach, DE homebuying population—but Fannie Mae’s latest study explains some good reasons why it might be.

In Fannie’s recently issued publication, 3,600 respondents were ‘largely unsure’ or just plain wrong about current homebuying realities. This, despite the significance of homebuying as the most important purchase most people make. The overriding factor creating this illogical situation is the fact that it’s also a purchase seldom made. Homebuying is such an infrequent transaction most people don’t focus on data when it’s available.

Another contributing factor is “a fundamental lack of financial literacy across the country.”

The majority of those quizzed hadn’t a clue about credit score requirements. Even fewer were aware of debt-to-income ratio guidelines. Fewer than one in four were aware that low down payment programs exist at all (with almost none of them aware that the actual minimum down payment percentage is 3%).

 One bright spot was the fact that a powerful majority (91%) of the Americans questioned favor homeownership over renting. As any Bethany Beach, DE schoolteacher will tell you, motivation is essential to learning. If 9 out of 10 of the 3,600 respondents who are in the dark about homebuying basics really do understand the personal benefits of homeownership, the motivation is already there.

In Bethany Beach, DE, the simplest way to access all the latest relevant homebuying information won’t take a deep dive into the latest published data—or a college-level economics course. It’s a one-step process: call me! 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

Oftentimes those lists naysaying common “myths” about selling a house are actually addressing assumptions. If “myths” are stories handed down through the generations, “selling your house” is an unlikely topic to be part of family lore. Myths about selling your Dewey Beach, DE house are usually more like logical assumptions that many sellers make on their own, rather than information they’ve heard from someone else.

So here is a “Top 3” list of questionable assumptions sellers sometimes make about selling their Dewey Beach, DE house:

1.      Homebuyers want to remodel after they purchase a home. Many people think that the average buyer “wants to make it their own” by wreaking wholesale changes to reflect their personal tastes. In fact, this assumption is contradicted by what is far more common: most buyers are attracted by properties that are “move-in ready.”

2.      Remodeling will take so much time it will be impractical. Updating tired details in key rooms (kitchens and bathrooms are typical) can be accomplished speedily when the scope is narrow. In some instances, concentrating on details like light fixtures, faucets, and kitchen and bath hardware design—can wind up reducing the time on market. 

3.      Remodeling never pays off. This budgetary assumption actually could be close to a myth because it is often discussed. But it’s only true when indiscriminate remodeling is undertaken. Small upgrades that focus on areas that buyers center on can definitely result in a higher selling price. This is where outdated kitchens or bathrooms warrant thoughtful consideration.

Every Dewey Beach, DE house deserves to be recognized as offering its own unique selling proposition—independent of any prevailing myths (or assumptions). When you ask me to direct the selling of your own Dewey Beach, DE house, we’ll start by taking a strategic look at how its unique strengths and weaknesses are likely to fare in this fall’s selling market. To start, 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

When interest rates were cut after the Fed’s July meeting, the press was quick to point out that not every homeowner would benefit from the move. As Bankrate.com noted in its lead article How the Fed’s Interest Rate Decisions Affect Mortgage Rates, “the majority of Americans won’t be affected.”

That’s true—for the moment. But for some Fenwick Island, DE homeowners, by last week, the immediate effects constituted good news. The Bankrate commentators touched on some of the traditional brain-teasing economics behind the effects (“there is an inverse relationship between bond prices and yields”)—but the practical repercussions were more straightforward. Mortgage lenders reacted with rate cuts, so:

·         Benefits flowed to the “winners of the rate cut”—some home loan borrowers with adjustable-rate mortgages (ARMs).

·         Also benefitting were those using home equity lines of credit (HELOCs).

·         Current fixed-rate mortgage holders may be able to cut their mortgage payments via refinancing.

·         Possible beneficiaries will be homebuyers whose budgets could now stretch to fit pricier homes.

The reason only some ARM holders will benefit immediately is because these loans usually adjust annually—and some don’t adjust for the first two, three, five (or even seven) years.

The Bankrate piece linked to another article, from way back on June 3rd. It described how “nearly 6 million people can now cut their mortgage payments with refinancing.” That was after May’s “sharp drop in rates” (which came as a surprise) was “nearing 4%.” At that time, it was estimated that a typical refi would save U.S. mortgage holders an average of $271 per month. With last week’s typical rate in the 3’s, it’s clear that those who held off in June might well see even greater savings.

The actual benefits for Fenwick Island, DE homeowners are an individual calculation. As always, I’m more than happy to discuss any of your Fenwick Island, DE real estate plans. Call me! 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