Before a first-timer has experienced the complete home-buying process, given the number of unknowns that seem to be dependent on one another, they’re bound to be at least a little baffled. What if there are unseen problems with the house? What if the home loan company decides not to cooperate? What if—well, who knows what other snags could pop up? Common sense tells them there must be ways to address all the unknowns; otherwise, no one would ever be able to buy a home.

The most common way to deal with the unknown possibilities is to seek the help of an experienced Lewes, DE Realtor® like yours truly. And in fact, the majority of the greatest risk factors can all be tamed by a single concept—one that is built into almost every formal offer to buy. The concept is the “buying contingency”—a built-in fail-safe every homebuying veteran knows well. There are usually multiple contingencies built into every offer to buy. Each one addresses a what-if circumstance that allows the buyer to either opt out or alter the offer. Here are five areas where contingency clauses serve to alleviate buyer anxiety:

1.      Financing. If a buyer isn’t planning on paying with cash, a home loan will have to be arranged. If it cannot be arranged in a timely manner, a financing contingency may relieve the buyer of being penalized for the failure to close.

2.      Appraisal. This is usually part of the financing situation. If the Lewes, DE lender’s appraiser arrives at a value lower than what would warrant a sufficient home loan, this contingency may allow for a renegotiation of the price and/or a cancellation of the deal.

3.      Inspection. If the buyer’s professional inspector’s report discloses interior or exterior faults that were previously unknown, depending on the extent of the problems, this contingency addresses what happens next. If negotiations fail to yield a satisfactory solution, the buyer can back out of the sale.

4.      Title. This contingency addresses possible “clouds” or undisclosed liens or judgments against the property.

5.      Home sale. First-timers don’t need to worry about this one—but for existing homeowners, this allows a buyer sufficient time to sell their own home. If no buyer surfaces, it allows the buyer to avoid having to pay for two homes at once. The downside is that the seller may choose a competing offer (even one for a lower sale price) if it doesn’t contain this contingency.

Multiple contingencies are effective ways to relieve buyers of risks that would otherwise prevent a free-flowing market. When you give me the nod to help you find and negotiate your first Lewes, DE home, they are among the many details that I’ll be able to clarify as we encounter them. 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

It may just be me, but doesn’t it seem as if the general drift of things is that it’s getting harder and harder to make ends meet? And that younger people are getting the brunt of it?

If that sounds familiar, it could be one generalization that’s no longer quite so valid when it comes to younger adults—specifically, about their prospects for owning their own Dewey Beach, DE homes.

If we are to believe the Pew Research Center, younger American households are doing pretty well. In fact, they’re doing better than their elders were at the same time in their youthful careers. Although you can argue that Dewey Beach, DE homes’ prices have risen as well, when you remember how close today’s home loan interest rates are to historical lows, the outlook for owning Dewey Beach, DE homes is hardly gloomy.  

The Washington fact tank’s 2019 study is based on the latest census data. Some of the highpoints:

·         Household incomes for those headed by Millennials (ages 22 – 37) are higher than at any time in the past 50 years.

·         This is true even after the totals are adjusted for inflation.

·         The effect is largely due to women in young adult households being paid more.

·         The averages hold true even though slightly fewer young adult households are headed by two earners.

Younger earners aren’t the only ones whose ability to own their homes is looking up. According to the study, Baby Boomers’ household incomes are at record levels, and Gen Xers are matching the previous highs reached by that age group in the year 2000. As for members of the ‘Silent Generation’ (ages 73 – 90), “the income…in this age group cannot be accurately estimated.” It looks like the elders among us know how to keep a secret!

Owning your own Dewey Beach, DE home isn’t just a luxury to be enjoyed now—it’s also the tried-and-true way to build and preserve wealth into the future. I’m here to help with any and all of your Dewey Beach, DE real estate endeavors—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

It might seem that some actions are perfectly obvious—and that among them are the many things you shouldn’t do immediately before moving to a new Milton, DE home. Yet, as moving day approaches, the multiplicity of tasks that are left to be done have a way of filling up the brain space usually reserved for sound decision-making.

A good example has to do with the living room furniture. It’s definitely one thing you should NOT do before moving:   

1)      Forget to measure the living room.

Making the assumption that all of your present furniture will fit nicely in the new living room is fraught with peril. The movers will want to know where to put the second couch you’ve just paid to have moved.

Ten other leading not-to-dos before moving:     

2)      Buy a puppy (especially a big, energetic one).

3)      Put off notifying your old utilities/new utilities. (Unpacking by flashlight is ill-advised).

4)      Not bringing the flashlight.

5)      Wait until the last minute to notify the post office of your change of mailing address.

6)      Not labeling the cartons (all of them).

7)      Not bringing a marking pen to mark any unlabeled cartons after you’ve had to open them to see what’s inside.

8)      If you’re taking the refrigerator, defrosting it in advance.

9)      Neglecting to assemble a box of items you’ll need in the first 24 hours in your new home.

10)  Not keeping a close watch on valuables (jewelry, electronics, documents, and cash).

11)  Forgetting to take photos of the old place memorializing that it’s “broom clean.”

Moving to a new Milton, DE home is sure to be an adventure—but whether it’s one you’ll look back upon fondly is largely a function of preparedness. No matter which it turns out to be, I’ll be here awaiting your call re. your next Milton, DE real estate adventure! 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