Millsboro, DE rental homes can provide their owners with an investment that’s competitive on many fronts. It can provide cash, positive equity growth, tax advantages—and even a variation on the “pride of ownership” that live-in homeowners feel. But at least in one area, it also brings a brow-wrinkling decision that those who live in the homes they own don’t have to think twice about.

We’re talking about pets. Fido and Kitty—yes or no?

For a huge proportion of American families, it’s a no-brainer. Despite potential less desirable side effects, that new puppy or kitten will be welcomed without hesitation into parlors from Millsboro, DE to Anchorage. Any damage that might result is just part of the wear-and-tear any household expects. The American Pet Association used to point to the 39% of households that own a dog or two—and to the 33% who own at least one cat. That might be greater today, now that 94 million cats and 89 million dogs populate U.S. homes.

What this results in for Millsboro, DE landlords is a tough choice about whether to allow renters to have pets. It might seem to make sense to simply rule them out—thus avoiding the clawing, scratching, digging, chewing on floors, walls, and fixtures, etc. Who needs those mental images to keep you up at night?

But if you decide on a no-pets policy, you eliminate something like 40% of your potential rental candidates. They’re spending $70 billion (!) a year to take care of their pets—which is why it’s sometimes argued that some of the personality types drawn to fostering animals are also highly desirable as tenants. In fact, the Petfinder website does say that pet-friendly rental units have a 4% lower vacancy rate.

The decision may be somewhat ameliorated by the fact that most pet owners readily accept pet deposits, various pet stipulations, and even a rent surcharge. For landlords who partner with professional managers, the best Millsboro, DE professional property management firms can be counted on to enforce established guidelines that protect their clients’ properties while providing the revenue benefits.

In short, the pet/no pet conundrum needn’t be a stumbling block for anyone weighing the investment potential that Millsboro, DE rental homes can provide. For a more complete picture, 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

For Millsboro first home buyers who are of a certain age (for the moment let’s call that 40+ or so), the prospect of making such a prodigious commitment should be less intimidating than for the younger set.

You have been around for long enough to have seen the ups and downs of the economic cycles; most likely have had a number of different jobs with good and bad employers; may even have entered into the entrepreneurial arena yourself. You’ve also observed friends, relatives and colleagues who as they acquired their Millsboro first homes, and have seen how they have fared as they enjoyed the benefits of homeownership and weathered the accompanying responsibilities. You know from observation that it doesn’t take spectacular luck or extraordinary business acumen to buy and own your first home—you’ve watched lots of regular people doing it all the time.

If you are part of the younger set, you may intuit the same thing—but haven’t yet seen it play out with your own eyes. Homeownership involves some dauntingly high numbers, after all. Add to that the current general sense of unpredictability about the world economy (who knows what’s going on in China?); the domestic business environment, jobs outlook, political scene (It’s an election year! An election year!)—maybe this is just the wrong time to make long term commitments…

If you belong to the more youthful group, there are some reassuring truths to make the first home buying plunge less worrisome. For one thing, if you’ve sometime sensed that the future is always unpredictable, you got that one right. When the economy is bright and looking brighter, those who have lived through the economic cycles are apt to be more skeptical than ever. It’s actually at the bottom of the economic cycle when the best buys are most likely to appear (though it’s never completely clear when that is!).

One thing that is completely reliable is the amount of money that Millsboro mortgage lenders are contracting to charge you every month (that is, if you play it safe and stick to a non-adjustable home loan). And right now, interest rates are still almost unbelievably low. Historically speaking, this is an unusually advantageous time to be joining the ranks of Millsboro first time home buyers. In an unpredictable world, that’s an attractive situation.

What every Millsboro first home buyers should ask themselves before proceeding any further is how long they plan to live in their next home, and how much can they afford to pay each month. If the answer to the first question is one or two years (or “I don’t know”)—it’s almost certainly a better idea to keep renting for a while. Otherwise, take a look at your monthly budget (if you don’t have one, get out a pencil and paper and commit to one)—and come up with the number. After that’s done, you’re already on your way to getting serious about owning your first home. Then give me a call to see what the current town market has to offer. Before long, you might be walking through the doorway of your first Millsboro home! 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

When it comes to understanding the factors that come into play when buying or selling a home—or any practical real estate information at all— Millsboro high school (or even college) graduates are on their own. If any real estate information has even been touched upon, it will have been in the most cursory manner: at best, one line item in a Home Economics budgeting discussion.

That’s one reason why everyone from first time Millsboro homebuyers to itinerant real estate investors can benefit from the best of today’s how-to real estate books. Here are some of the popular oldies—as well as some valuable newcomers:

100 Questions Every First Time Home Buyer Should Askis Ilyce Glink’s compilation of insights from top brokers across the country. Town first time buyers aren’t the only readers who will find this general reference valuable— Millsboro home sellers who want insight into the concerns of potential buyers will find it a useful resource. The “100 Questions” don’t address every Millsboro real estate information topic; but on the whole, this book is concise and informative.

Solid, practical information for homeowners readying their property for the Millsboro market can be found in Rhoney and Richard’s Smart Essentials for Selling Your Home. In the same way that 100 Questions book is also useful to sellers, this one would make excellent reading for prospective home buyers who recognize the importance of understanding sellers’ priorities. Smart Essentials is mercifully short: just 92 pages!

For more seasoned readers who might be considering an Millsboro residential investment, the bookshelves have plenty to offer:  

The second edition of Gallinelli’s What Every Real Estate Investor Needs to Know about Cashflow has been around for a while, but comes highly recommended for its textbook-level explanation of how economists digest real estate information for investment purposes. The formulas are all there, as well as examples that demonstrate how to apply them. Reading it won’t encourage prudent Millsboro non-CPAs to do their own business tax returns—but will acquaint them with valuable foreknowledge on how their tax advisor approaches maximizing their refund. Its description of four different ways to make money from real estate can be eye-opening.

J. Scotts’ The Book on Flipping Houses (how to buy, rehab, and resell residential properties) is a roadmap from start to finish on how to go about a lucrative house flip. There are many books on the subject, but this one is the leader of the pack. First published in paperback in 2013, it’s been a real estate information best seller ever since. Part of its wide appeal is the author’s (he’s a veteran flipper) candid step-by-step descriptions of how he executes his own projects. The author’s other book (with co-author Brandon Turner) is:

The Book on Estimating Rehabs. This is a book Millsboro real estate information-seekers should find well worth its hefty paperback price tag ($22.49 on Amazon). It details a variety of different approaches to projecting a rehab budget, including a breakdown of the 25 components that need evaluating.

Books can provide invaluable background information for real estate newcomers and veterans alike. Another essential is the assistance of a knowledgeable agent: good reason 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

Historically low mortgage interest rates have been a lifeline for many Millsboro first time homebuyers in recent years, keeping home ownership within reach for many who wouldn’t have otherwise been able to make the leap. For them, and for all the other than first time area homebuyers, the fact that home values have continued to rise has been an added boon.
But, as just about every mortgage industry expert will tell you, the gig is almost up for those rock bottom rates. Yet the question for many first time homebuyers remains: is it time to buy or not?
It’s a good time to take a hard look a few of the known facts—
According to web giant Zillow, as of Q1 2015, potential home buyers should expect to spend about 15% of their income on a mortgage for an average home in the U.S. When you compare this with the historical averages, it makes today’s rates temptingly low: the typical percentage has been closer to 21%. In terms of dollars spent monthly, that’s a big (and terrific) difference!
At the same time, the historical average has a typical renter shelling out 24% of income. Today, that’s closer to 30%...making first time homeownership that much more inviting.
Taken together, Zillow’s new calculations definitely appear to make finding a home to buy the more affordable option. On the other hand, it’s also true that a number of factors work against first time homebuyers—in Millsboro and nationwide. College debt, for one, is far more of an obstacle than it used to be. And the other side of those all-time high monthly rents in many places are making it that much harder for would-be first time homebuyers to save for a down payment. But with the widespread phenomenon of growth in rents outpacing growth in home values, the rental affordability problem isn’t likely to improve any time soon. With mortgage rates likely to be on the increase as early as this fall, the long term outlook may not grow rosier as time passes. The implied takeaway: strike now while the iron is hot!
Whether this real estate foray is your first or tenth, if you’ve been considering taking advantage of this summer’s Millsboro home buying bargains, contact me today for an introduction to a qualified mortgage broker—and to discuss whether this might not just be the perfect time to start 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