Last week ended with some good news that can affect many Lewes, DE real estate transactions—specifically some with bottom lines equal to $400,000 or less. It came in the form of a rule change from Washington’s rule-makers, and whether or not it applies to your own property, it may signal a shift in regulatory outlook.

 Many Lewes, DE real estate transactions are subject to Federal regulations—rules devised to ensure the soundness of the financial institutions that provide home loans. Theoretically, everyone who buys or sells Lewes, DE real estate should benefit from legal regulations that restrain lenders from granting loans too easily. When that takes place, widespread “easy money” usually results in the kind of abrupt return to reality we saw in the last decade. Nobody wants that!

One way regulators prevent residential real estate “bubbles” is by seeing that home loans are legitimately collateralized—that home loan amounts don’t exceed the real value of the underlying properties. That’s realized by requiring that strictly professional appraisals be performed. Appraisals demonstrate that homes true values equal or exceed proposed loan amounts.

But—it’s always a balancing act. Appraisals take time and cost money—making buying and selling that much more cumbersome. Any regulation that is too strict unnecessarily retards legitimate Lewes, DE real estate transactions. Over time, that’s what had happened with the appraisal requirement.

Last Friday an official press release announced a lightening of the appraisal requirement. The Federal Reserve, FDIC, and Office of the Comptroller of the Currency “have adopted a final rule that increases the threshold for residential real estate transactions…from $250,000 to $400,000.”

The rule change was made after consultation with various consumer protection entities to ensure that upping the threshold for appraisals wouldn’t be overly liberal. Since 25 years have passed since the last adjustment, inflation alone probably validated the decision.

For qualifying Lewes, DE real estate transactions, it will be a welcome change. Part of my job is to see that your own real estate initiatives surmount all the legal and technical hurdles with a minimum of fuss. 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

 According to Alina Dizik, one of the leading Wall Street Journal’s real estate commentators, a growing number of luxury homeowners are finding new appreciation for an old idea. In fact, the older, the better.

Pursuing a way to enhance the feel of modern homes, more and more homeowners are “getting into the groove” of reclaiming ancient materials—especially old wood. Antique timbers from old New England barn sidings have long been recycled, but usually only for walls. Now other uses are being found to add character to otherwise unexceptional rooms. For Lewes, DE homeowners looking to update their own homes, looking to the past might be an idea worth thinking about.

The Journal highlights a successful example in a Minnesota couple who used 1900s-era oak fencing to create an unusual dining-room ceiling. They liked the effect so much that they located some 1850s midwestern barn wood to use as exterior siding—then used the hand-hewn beams to look like support beams. “That’s the first thing people talk about,” according to the owner.

Now the search for reclaimed wood isn’t limited to barns. Materials from log cabins and factories originally built in the 1800s can be worthy prizes—as long as “they look as primitive as possible.” Today’s timber doesn’t supply the same look and feel as the more ancient wood because fast-growth techniques used by suppliers don’t create the same effect as do the antique hardwoods. Harsh weather—lots of it—makes the difference. While new wood tends to shrink “or cup and bow,” the old stuff just hardens—and looks terrific when contrasted against modern surfaces.

Despite its growing popularity and the obvious limit to how much can be reclaimed, dealers claim that Lewes, DE homeowners might find ample supply. Agents rely on word-of-mouth to claim structure that a being dismantled, so “it just keeps on coming.”

The old-materials-contrasted-with-new is an idea that may not leap to mind when Lewes, DE homeowners consider updating, but when it’s well done, can add unique appeal. Whenever you’re thinking of original ways to add value to your own Lewes, DE home, I hope you’ll 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

 By now, just about everyone in Lewes, DE looks back on the last decade’s housing bust with a lot less consternation than heretofore—time can do that (as well as the recovery of temporarily lost value). For some Lewes, DE homeowners, the temporary nosedive in Lewes, DE real estate values was little more than an uncomfortable learning experience. For others, it served as confirmation of the long-term store of value their Lewes, DE real estate embodies. But for others, the dominant memory is of the severe dislocation it and the accompanying worldwide financial meltdown triggered. Members of the Gen X group (those born between 1965-1980) could have ample reason to identify with any of the above—but there’s reason to believe the first two claim more adherents.

The Pew Research Center has gone over the statistics and emerged with these factoids about the generations and how they have fared, post-recession. The first one may be the most surprising:

·         Gen X households are the only ones to recover the wealth lost in the Great Recession. This was as of July 2018, but is eyebrow-raising since the Gen Xers were, according to Pew, “particularly hard hit.” That makes sense since they were younger than the Boomers, so more likely to have entered the market when prices were at their peak. Their superior rebound is explained by the fact that wealth tends to rise most quickly at younger ages—so the rebound caught their earnings sweet spot.

·         Today, Typical Gen X homeowners have more home equity than before the housing collapse. Since Gen Xers are in the prime working-age range, they’ve displayed the most consistent “ability to rebuild wealth.” Compared with the Boomers, Silent Generation, and to a lesser extent, Millennials, they have attained the most robust household income growth since 2010.

The final takeaway by Pew’s analysts is that Gen Xers’ first-hand experience has been a painful but valuable lesson in the consequences of economic contractions. For many, it has also been a demonstration of the long-term value of homeownership.

No matter which generation you belong to, for the latest in today’s Lewes, DE real estate offerings, I hope you’ll 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

Buying a home in Lewes, DE– especially if it’s your first – can seem like it’s just a magnified version of any other major purchase. You’re the buyer—which makes you the boss. It can be as straightforward as that—but there are also several parts of the process where it’s all too easy for Lewes, DE buyer mistakes to cost not just time and frustration, but real money, too. Here are some common home-buying missteps:

1. Looking for a home before speaking about a mortgage.

Many first-time buyers make the mistake of viewing homes before making contact with a mortgage lender. This puts you behind the ball if a home you love hits the market, or if you wind up spending time and energy looking at homes that you can’t afford.

2. Talking to only one lender.

This one is a biggie! Buyers who get a mortgage from the first (and only) lender or bank they talk to are potentially leaving thousands of dollars on the table. The more shopping you do, the better basis for comparison you’ll have for ensuring you’ve landed the best deal.

3. Being careless with credit.

In the months leading up to a mortgage application, don’t open new credit cards, close existing accounts, take out new loans, or make large purchases on existing credit accounts. Maintain that practice through closing day.

4. Assuming you need 20% down payment

Delaying your home purchase while you save up for a 20% down payment can take years. That’s tying up cash at a time when you might be putting it to better use: maximizing your retirement savings, building an emergency fund, or paying down higher-interest debt. Today it might be possible to arrange a conventional mortgage for as little as 3% down. Even though that would require mortgage insurance, given today’s bargain mortgage interest rates, the result can make for a sensible bargain.

I’m here to help all your real estate transactions close smoothly. Call me anytime this summer to discuss your search! 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