For Ocean View, DE mortgage interest rate chroniclers, this month began with the culmination of a trend that’s been playing out for quite some time. It’s “the other shoe” that finally dropped. The headlines confirmed the numbers that government-owned mortgage backer Freddie Mac posted:

Mortgage Rates Dip to New Record Low.”

The 3.23% national average on the 30-year fixed-rate hit was, literally, an all-time low. It represented a drop of a tenth of a percent below the previous week’s mark (and nearly a full percentage point below what had been posted a year earlier).

In other words, the come-hither phrase advertisers have been long spouting—"home loans near historic lows”—was suddenly passé: rates were now surpassing historic lows! There were, however, some caveats.

In order to take advantage of Ocean View, DE mortgage rates at such eye-popping levels, sophisticated local home loan and refi customers understood that a spotless credit history would be required. As Mortgage News Daily put it, “the cost of imperfection remains high in the mortgage world.” MND Chief Operating Officer Matthew Graham further quibbled that Freddie Mac’s calculation didn’t fully account for “all the volatility,” nor did it recognize one rate posted in early March (since, for some reason, Freddie ignores rates posted on Thursdays and Fridays).

But still, the main point was unarguable: Ocean View, DE mortgage rates were unmatched bargains. Graham noted one mortgage consultant’s advice, “Lock at the first opportunity!

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On another front, a different home loan issue is worth noting. For existing mortgage holders wishing to take advantage of the “forbearance of payments” component written into the government’s CARES Act, there could be an under-publicized side effect. Although the law mandates that forestalled payments cannot be reported as “late” on credit reports, that doesn’t mean they won’t be recorded at all. So, although forbearance might not directly impact a borrower’s FICO score, it could lower the limits other lenders offer. Since that would raise the borrower’s ‘debt-to-available credit’ ratio, that would impact their FICO score—a clarification that should be publicized.

I’m always standing by to discuss any and all questions touching on Ocean View, DE real estate matters. Do 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

 Despite all hurdles, Ocean View, DE residential real estate continues actively—now with the sense that an uptick is in the wind. Even for area homeowners who have been waiting for a return to pre-pandemic life before listing their Ocean View, DE homes, the positive signs have to be encouraging. Ocean View, DE official pronouncements make it clear that the need to get more businesses back up and running is gaining urgency—no doubt with utmost caution. 

Meanwhile, another weekend came and went without the community gatherings that would have been going gangbusters in any other late April Saturday and Sunday. The absence of public divertissements still felt strange. With Ocean View, DE movie house and music performances off the agenda, you’d hope that at least TV would offer fresh entertainment. Had the Tokyo Olympics not been postponed, all the final competitions to select this summer’s U.S. teams should have been beaming our way night and day.

Instead, Ocean View, DE viewers were subjected to dusty reruns of competitions long past. A truer “vast wasteland” has never been broadcast. By Sunday night, there was even the strange necessity of American Idol’s “live” competition having been taped in contestants’ homes. It may have been an admirable adaptation to adversity by the producers—but even so, couldn’t help reminding viewers how much the presence of cheering audiences adds to any concert.

Yet there WERE other rays of hope, even for weary Ocean View, DE housebound couch potatoes. The Olympics may be off the schedule, but for “purposes of national morale,” a few major sports were plotting their return. Golf scheduled a resumption of the PGA tour on June 11—the kickoff for a full summer lineup—the first of which will be televised sans onlookers. Pro tennis players will compete in a series of singles matches from Monte Carlo (many stars have tax haven homes there). And NASCAR is negotiating a summer series of one-day events that will forego qualifying heats, pit stops, and fans.

June’s resumption of live sporting events should be a signal of things to come—stirrings of a return to American cultural normality. Meanwhile, American real estate activity is considerably more active—at least here in Ocean View, DE. Call me for a “live” update! 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

 At first blush, the idea of listing your Ocean View, DE house during today’s emergency conditions would seem impractical—but it turns out to be entirely doable. There are even some plusses.  

Some sellers apparently agreed. Last week’s Forbes magazine offered an interesting view from one area where home sales rose significantly in March. A local agent there realized a human dimension that seemed to be affecting clients during this period. As people spent more time at home than ever, they were also appreciating how important having the right home base really was. As the agent observed, “I can’t think of a time when people around the world have depended on their homes more completely than they do right now.”

One usual concern that might disappear has to do with the “Days on Market” number. The DOM listing figure is commonly regarded as a negative. Even if current conditions result in fewer prospects appearing, the resulting greater DOM would usually signify a property that’s less appealing. In normal times, it’s easy for buyers to imagine that the seller might be growing impatient (and perhaps willing to settle for a low-ball offer).

In the current situation, though, the negative power of DOM is likely to lose its punch. If July’s buyers see a “90 Days on Market” attached to an otherwise appealing listing, they’re unlikely to assume a problem with the property. The overriding problem was certainly COVID-19! For Ocean View, DE homes that were listed during the pandemic, the DOM number might as well have an * by it

There is also a high likelihood that potential buyers with extra time on their hands will be spending more time browsing through the Ocean View, DE listings. As people prepare for the resumption of business as summer approaches, having your property’s virtual tour online during this period is the best way to capture their interest—for immediate follow-up, or for later, when restrictions ease.

Call me for details on we are creating listings that capitalize on today’s unique market! 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

 The typical Delaware luxury home buyer isn’t really “typical” any more than the property they will ultimately acquire. It’s a simple fact that the affluent prospective buyers who are Delaware’s next homeowners simply can’t be pigeonholed in any meaningful way. The Luxury Home Council defines the group as “owners of properties valued at five times the median price of U.S. homes”—but in fact, many Delaware luxury properties significantly exceed that metric. Again, there simply is no “typical.”

It follows that generalizations about today’s Delaware luxury properties are also few and far between. But there are some features that writers point to as gaining increasing popularity. Some include—

  • Designer Dressing Rooms. Yesterday’s closets are rapidly expanding into walk-in areas with luxurious cabinetry, sound systems, and designer lighting. Glass cases may display handbags and clothing; opening drawers can trigger lighting.
  • Gourmet Kitchen features are evolving. Today’s luxury kitchen may have built-in iPhone triggered coffee brewers, wine refrigerators (or walk-in, climate-controlled wine rooms), warming drawers—and/or any of the rapidly surfacing electronic “smart” kitchen adjuncts. There is no ‘typical.’
  • Spas. Luxury in today’s master bathrooms really comes closer to what high-end resorts feature in their spas. These begin with double vanities and walk-in showers, then add features ranging from towel warmers and rain showers to radiant-heated floors, soaking tubs, skylights and fireplaces—often designed with materials that create an organic, natural ambiance.
  • Gymnasiums. Fitness facilities custom-designed for the health needs of their owners eliminate the need to exercise in public membership health clubs. Indoor swimming (or lap) pools can add year-round utility.
  • Smart Technology. Household systems that can be monitored at home or from afar via smartphone apps are no longer the exclusive province of homes that meet the “luxury” designation. That should be reserved for those that have been elegantly integrated for simplicity of operation. They provide improved security, and for Delaware’s luxury homeowner, enhanced ease of mind.

Of course, for any of Delaware’s true luxury offerings, there is no “typical.” For a detailed exploration of the luxury properties that meet your own criteria, 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.