When yahoo!finance (the exclamation point is part of the title) puts residential real estate at the top of their feed, a fair number of Fenwick Island, DE readers are apt to come across it. Last Thursday, such was the case with the commentary, “U.S. will ‘become a renter nation,’ says real estate investor.” The report was offered by a reliable reporter, Sarah Paynter—and since the byline included a promise that time-crunched readers would welcome (“2 mins read”), Fenwick Island, DE web surfers probably checked it out.

The real estate investor quoted in the title was making the point that the current historic high residential prices are making homeownership more and more difficult for many to afford. “If you keep pushing prices, you’re pricing people out,” was his unarguable point. The trend was the inevitable combination of high demand, low supply, and low mortgage rates (by week’s end, Freddie Mac was quoting 2.87% average rates on 30-year fixed loans).

Included was one statistic that was sobering (although no source was cited): “...for every $1,000 price increase, some 150,000 buyers are priced out of a home purchase.”

That gave substance to the headline—which summarized the housing investor’s final conclusion: “We’re going to become a renter nation in this countryRenting will become the economic choice…” Left unwritten was a logical consequence to that prediction: for some, it also means we’ll become a landlord nation!

For Fenwick Island, DE investors with strong credit seeking to take advantage of the current lending environment, it’s not necessary for the entire nation to fulfill yahoo!finance’s forecast. All that’s needed is to give me a call to explore today’s many Fenwick Island, DE investment possibilities! 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

Tuesday marks the end of summer and the onset of autumn in Fenwick Island, DE—the day astrophysicists and TV weather forecasters like to refer to as “the autumnal equinox.” After the equinox, since Fenwick Island, DE lies in the Northern Hemisphere, our nights become increasingly longer than our days. This continues until the winter solstice (this year, Fenwick Island, DE’s solstice comes on December 21). That will mark the shortest day of the year—when the night/day lengths do an about-face and autumn officially comes to an end.

You can tell just by looking at that word, “equinox,” that it is supposed to signify something being equal—and the chances are pretty good that someone like your 7th-grade science teacher explained that the hours of daylight and darkness equalize at the equinox. (There are two equinoxes—the other being the vernal [spring] equinox, of course—but let’s not make this any more complicated than it needs to be).

So, since everybody trusts their 7th-grade science teacher, and since there are 24 hours in a day, you would expect that this Tuesday Fenwick Island, DE’s sunset would happen exactly 12 hours after sunrise. But if you look it up, the tables say otherwise. And in fact, if the weather allows us to check out the sunrise and sunset on Tuesday, the 12-hour idea will be a few minutes off. Across the U.S., those daytime and nighttime hours never actually equal out until days later: Friday (in the northern states) to Sunday (in Florida).

If you find this disappointingly—unscientifically—imprecise, the explanations probably won’t make you feel much better. If you look up a site like sciencing.com, you’ll confirm that not only are the dates for equal day and nighttime hours “other than the actual equinox date at higher latitudes” (Fenwick Island, DE’s latitude certainly qualifies)—but, worse yet, “equality never happens at the equator.” The reasons given have to do with the sun “being visible before it rises and after it sets because of refraction of light through the atmosphere” and “the sun’s orb having angular extension in the sky.” In other words, the scientists don’t want us to be able to figure out what they’re talking about.

The good thing about this particular equinox is that it marks the beginning of autumn in Fenwick Island, DE—a favorite time of the year for everyone who looks forward to Thanksgiving, Halloween, or the onset of holiday music. This year, fall also looks to be a most opportune time to take advantage of this year’s delayed home buying and selling season—so 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

 Most of today’s first-time Fenwick Island, DE home buyers are aware that they’re no longer tied to strictures laid down in previous eras—especially the one dealing with 20% down payments. For buyers with stellar credit histories, that’s horse-and-buggy material. Last year, the U.S. average down payment was just 12%—but for first-timers, that average dropped to 6%!

Relaxing steeper down payment requirements makes sense for everyone. It expands the field of buyers, so sellers and lenders benefit. But most of all, for first-time homebuyers who would need many years to save up the cash required for a 20% down payment, the advantage of being able to buy sooner (and thus, to begin building equity sooner) couldn’t be clearer. And today, with home loan interest rates scraping historic lows, why wouldn’t everyone rush to buy?

In other words, what’s the catch?

Well, it isn’t a trapdoor-sized catch—more like the delivery charge that’s added onto an online sale item. It’s called “PMI”—short for “private mortgage insurance.” Since the borrower gains their new house without putting nearly as much of their own cash at risk, the PMI payment added each month serves to defray the extra exposure assumed by the lender. Since a large down payment would be lost to a borrower who defaulted on their home loan, smaller down payments make defaults more likely. The PMI protects the lender against that possibility—with the new homeowner required to make the compensating payments.

Those payments (and the insurance) are no longer required once the principal paid on the mortgage reaches 20% of the loan amount. The details are covered in the Homeowners Protection Act. The amount of the PMI payment is determined by the size of the loan, borrower’s credit score, and various other measures—such as being able to show a history of making high rent payments.

The bottom-line question is whether the total monthly payment makes buying less of a bargain—an answer that’s only possible by working out the details. Call me for help doing just that! 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 prospective Fenwick Island, DE home sellers who have been holding back, waiting for the past months’ chaotic events to quiet down, last week ended with an array of encouraging signs. The national indicators that underpin the Fenwick Island, DE real estate climate were almost uniformly promising. After the dislocations that have characterized most of 2020, now, at midsummer, home sellers are finding conditions that look to be much less equivocal.

The realtor.com website offered a concise summary. On Saturday, Chief Economist Danielle Hale’s end-of-week podcast ticked off the series of optimistic indicators:

·         July employment figures showed continuing gains, with the economy bringing back more than 40% of the jobs lost since the pandemic’s onset.

·         Unemployment claims continued to decline.

·         Financial markets notched “the eighth new record low this year for mortgage rates”—2.88% on 30-year fixed mortgages, per Freddie Mac.

·         For the first time this year, monthly data from the mortgage bankers showed a slight improvement in credit availability—an indication that “the worst in the credit pullback could be behind us.”

·         By the beginning of August, median listing prices across the nation had risen a full 9.4% over the same period in 2019—considerably more than most had forecast, and a new high for the year.

·         Despite the robust bottom lines, the typical listed property sold four days faster than a year ago.

The numbers supported the economist’s unabashedly optimistic summary: “The housing market,” she wrote, “has tipped in favor of the relatively small number of home sellers who are actively participating right now.”

For future Fenwick Island, DE home sellers who have been uncertain about how the pandemic would affect the nation’s real estate market, clearer signs would be hard to imagine. As Hale put it, in this market, “buyers have to act quickly”—and the same could be said for sellers.

In other words, this looks like a very good time to 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