The wisdom behind the truism that there’s no such thing as a free lunch can even apply in a context as virtuous as inheriting Ocean View, DE homes. Parents bequeathing the family home—or generations passing down the ancestral vacation cottage—are intended to be acts of unalloyed generosity. But common to many commentaries on the subject are some common unintended consequences. For Ocean View, DE homeowners who have ever weighed the idea of passing the family homestead onto their progeny, it’s a point worth exploring.

 The most acrimonious outfalls surface when multiple heirs are involved. Since individuals fare differently as careers develop and life’s opportunities and challenges unfold, the obligations accompanying homeownership present difficulties for some heirs more than others. Given the fact that taxes, insurance, utility bills, and maintenance expenses are ongoing even for a property that is debt-free, the choice of which possible disposition (occupying, renting, or selling) may affect heirs very differently.

Overlaying the financial outfall is the likelihood that the latter two income-generating solutions are bound to raise sentimental issues when clearing the property for sale or new tenants. The emotional stress often causes heirs to avoid cleaning out an inherited property, sometimes, for years. Says Rhea Friedman, a CFP in Manhattan, “Not selling a house and not living in it makes for increased maintenance and insurance costs without much to show for them.”

The best solutions seem to result when everyone can summon “their best selves” to cooperate in formulating a precise agreement spelling out how ongoing expenses and obligations will be shared. Another variation is for the donors to engage Ocean View, DE legal help to create a framework that addresses the specifics in ways designed to minimize discord.

The Washington Post once summed up the all-too-common problem simply. It can be resolved “by parents with proper advance planning.” That may be an oversimplification, but that kind of foresight in other Ocean View, DE homeownership issues is always advantageous. Call me anytime—I’m always happy to contribute help and advice. 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

For those pondering the timetable for selling their Lewes, DE house, last week’s developments may add a couple of plusses into the “sooner” column. There are always pros and cons about listing in the fall versus waiting for the spring and summer market—but last week’s information could tilt toward acting now.

First (and most well-publicized) was the outlook for home loan interest rates…again! The news wasn’t unexpected, but the accompanying commentary added a compelling note. The Fed again lowered their benchmark rate by .25%, which is very likely to keep mortgage rates in the historically low range for homebuyers—but the Fed Governors also made it clear that this is very probably their last action for a good while. As Bankrate.com observed, “policymakers signaled they’re ready to hit the ‘pause’ button on additional cuts.”

In other words, for buyers who’ve been patiently waiting for the best possible home loan rates, they will likely decide they’ve waited long enough—the coming mortgage rates are unlikely to dip much lower. For those thinking of selling their Lewes, DE house, low rates mean that buyers find higher asking prices acceptable since lower rates equate to more affordable monthly payments. Today’s buyers have demonstrated pronounced sensitivity to that bottom line.

The second news arrived as a less-publicized cluster of informed opinions. Most persuasive was the official voice of quasi-government bigshot Freddie Mac’s flat assertion that “…the housing market remains on solid ground.” They reported that housing starts, building permits, existing home sales, and new home sales are “all significantly outperforming” expectations.

If you are among local homeowners thinking of selling your Lewes, DE house in this fall’s market, the upshot was certainly positive. Call me for a detailed discussion of the prospects for your own property and what you can expect should you decide to list! 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

The headline promised “Ways to Dramatically Lower Your Home Insurance Costs”—there were six of them—and indeed, it was followed by some sage economic advice. Insurance isn’t often accompanied by high drama, but CNBC’s website can be forgiven for the hyperbole. The guidance for Dewey Beach, DE homeowners was useful.  

The six dramatic homeowner insurance cost-cutting items were a mixed bag—with three of them boiling down to variations on a single theme:

·         Do your homework—and do so every year. When your agent sends you the annual renewal notice, that’s your cue to take the time to give your current coverage a critical once-over. Another point was aimed at the same idea: Talk to your insurance agent every year; as was the third point: Shop around every few years. Web portals (CNBC names Insure.com and InsuranceQuotes.com) can make gathering quotes easier than used to be the case. But a caution is in order: check the reputations of low-quoting companies.

One study turned up the fact that the majority (two-thirds) of U.S. homes are underinsured by an average of more than 20%. Stricter Dewey Beach, DE building codes can make rebuilding an older home 25%-50% more costly. That kind of shortfall would be dramatic! The other key points were aimed at preventing such an outcome:

·         Hike your deductible. This strategy is aimed at allowing Dewey Beach, DE homeowners to hike their coverage without increasing the premium. Since making small claims is a sure way to increase next year’s premium, most people don’t make them, anyway—so increasing your deductible makes good economic sense.

·         Get every discount. Bundling your auto insurance with the same company is already well-“dramatized” in ads, but some others—like having upgraded your roof or windows or having made energy-efficient alterations—can result in premium savings, too.

·         Consider flood insurance. Dewey Beach, DE homeowners who aren’t in an officially designated flood zone may not think about it, but typical policies do cover wind damage and exclude flood damage.  

Another result of keeping Dewey Beach, DE insurance policies up to date is actually pretty undramatic—it’s the peace of mind it brings. Feel free to call to chat whenever questions arise about your own Dewey Beach, DE real estate matters! 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