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

 On Sunday, the end of Lewes, DE daylight savings time will have us all regaining the hour we lent ourselves last spring. That’s a realistic way to look at what we’re actually doing when we set our clocks backward. We should enjoy the extra snoozing time—we’ve earned it, and get to keep hold of it until next March 8.

If you’re wondering why the “d,” “s,” and “t” aren’t capitalized in that opening sentence, it’s because of the prodding of the British qa.com educational site. When it comes to daylight savings, we might think of them as the grammar police (although they’d probably rather have that, “grammar constables”).

British grammarians frequently share their exasperation at the way their language is mistreated by the rest of the English-speaking world. “Daylight Savings Time” seems to present a ripe opportunity.  They open the critique by declaring that the phrase is technically incorrect, despite its universal use throughout Australia, Canada, and the U.S. They say that the plural “savings” only became popular because of its similarity to everyday phrases like “savings account.” They point out that even “the U.S. Government Publishing Office style guide” agrees. For the record, that title should be “Government Publishing Office Style Manual.” Take that, qa.com!

But qa.com also wants all of Lewes, DE to straighten out and fly right—to start saying, “Daylight Saving Time,” no matter how weird that sounds. And that’s not all. They want everybody to stop capitalizing the “d,” “s,” and “t.” And yes—our own government grammar constables agree. It’s right there in the Manual. The Brits claim that the only reason everyone capitalizes it is because we want to make it such a big deal: to “emphasize its awesomeness,” they snicker.

Well, Sunday’s adjustment definitely WILL be a big deal for those of us who forget to set our clocks back an hour. If you’ve ever done that and suffered the consequences of being out of sync with the rest of Delaware, you know the truth in that. Also true: calling me when you need Lewes, DE real estate help is the correct move!  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

This is the week that leads off with the Federal holiday that reminds us of the epic turning point of Christopher Columbus’ voyage of discovery—the day he arrived in the Americas. Lewes, DE’s Columbus Day is always celebrated on a Monday, which in 2019 is actually two days after Saturday, the actual date: October 12.

Celebrating Columbus Day on a weekend day wouldn’t have been much fun, so Monday is it. That solution was legalized in 1971, when Columbus Day was permanently moved to the second Monday in October. It’s no accident that this establishes a perpetually enshrined 3-day holiday weekend.

Because the arrival of the Europeans eventually resulted in today’s modern world, replacing almost every vestige of the indigenous cultures which preceded it, there is much debate about whether this should be cause for celebration. Here in the U.S.A. (except in North Dakota, Hawaii, and Alaska) it continues to be observed and debated, as it is in Spain, Mexico, Argentina, Venezuela, Columbia, and Chile. In 1957, Canada adroitly sidestepped the whole controversy by declaring that a Canadian Thanksgiving will fall on the second Monday in October. Clever, those Canadians…

Italian American organizations vigorously defend the holiday, although Italy does not. Possibly Italy still smarts from the costly mistake of having allowed Spain to sponsor the voyage (but Genoa, at least, does have a heroic statue of the explorer).

Banks take the day off, as do most U.S. schools, courts, post offices, and government offices in general. Most Lewes, DE businesses and offices are less committed: it’s said that they recognize Columbus Day, but don’t necessarily observe it.

Whether or not Lewes, DE’s Columbus Day is a major observance in your household or business, here’s wishing your extended weekend is a marvelous one! Afterward, when it’s back to discovering Lewes, DE real estate, I hope you’ll give me a ring! 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

 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