Real Estate Information Archive

So your life circumstances indicate that now is the time for you to buy real estate. Perhaps this will be your first home or you need a larger space to accommodate a growing family. You may be in search of a better school district or be forced to move because of your job. Whatever the reason for your housing search, there are four basic areas you need to investigate and specific questions you should ask before making a final decision on any house.

WISH LIST:
Before you actually tour any homes, you should determine exactly what you are looking for by asking yourself (and your family members) questions such as “What type of house do I want”? How much space will I need? What type of community and amenities are important to me? How much can I realistically afford to pay?

LOCATION:
Once you have narrowed down your neighborhood choices, do further exploration of these locations by asking about zoning, since apartments and commercial/industrial buildings lower the real estate value of homes. Is the appearance of the community appealing? Does the school district have a good reputation/rating? What about noise? Consider nuisance factors such as traffic sounds, barking dogs, railroad tracks, etc.--anything that will disturb or annoy you on a recurring basis. Ask, too, about property easements, commuting time to and from work, and demographics. Will you be the only family with young children or the sole 50+ resident in the neighborhood?

CONDITION OF Home:
In order to determine any structural or maintenance issues, ask about the age of the house, roof, and appliances. What kind of foundation and insulation does the home have? If you’re looking at an older property, ask if the plumbing and electrical systems have been updated. Has the house been inspected or appraised recently, and, if so, were any problems documented? Will the exterior of the residence require annual maintenance?

COST:
Asking the right questions in this area is extremely helpful in determining your offer on the Wilmington DE real estate. Inquiring about neighboring comps, what the seller paid, and how much he owes will give you an idea of the rise/fall of nearby prices and alert you to possible short sale or foreclosure status. Ask how long the house has been on the market and if there have been any offers; perhaps the seller will be willing to negotiate price or offer incentives. Additional inquiries should be made re: the cost of insurance and property taxes on the property and the amount of any homeowners’ association fees.

Arming yourself with answers to questions such as these should help you make an educated decision as to whether or not a particular piece of real estate is for you.

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

1.  The first and most important thing you need to do before looking for a home to buy is to find an agent.  The reason this part is the most important is because buying a home is a huge financial obligation and you want to choose the right person to help you with such a big decision in your life.  A good way to find an excellent Realtor is to talk with your friends and family members that you trust to see whom they have used in the past.  Once they give you a few suggestions, you can meet each one and see which one best matches your personality wishes.  You will be spending quite a bit of time with this person so you want to make sure that you get along beautifully with them.   

2. The next step in home buying made easy  is to find a lender.  Many times you can find out from your Realtor about what lenders they tend to use or who they think can be the best match for you and your particular situation.  If your Realtor doesn’t lead you to the best match, again you can talk to your friends and family for suggestions.   

3. You then need to make sure your credit is as clean as it can possibly be.  Lenders can many times give you a bit of guidance in this area so that you can get approved for a loan.   

4. It is important that you get pre approved for a loan before you go out searching for the home of your dreams.  The lender that you choose will help you to know exactly how much of a house you can comfortably afford before you get your heart set on one.  

5. Lastly, figure out exactly what you are looking for in a house.  Make a list of your wants and desires in order of their importance.  This will help to guide you in your home buying  adventure and will help avoid wasting precious time.  
    

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

You may think that you can ask your real estate agent anything at all that you want to ask them and you may be right.  What you may not be right about however is that you may not get an answer.  There are some questions that real estate agents might know the answer to but they are not able to give you the answer based on the Fair Housing Act.  Real estate agents are not allowed to discriminate based on race, religion, sex or economic status.  If you ask any of the following questions you may not get a straight answer from your real estate agent. 

1. Asking your real estate agent if a particular area is a good place to raise a family may or may not get you a straight answer.  In fact, you may find that your agent just gives you a blank stare when asked this type of question.  They may know good and well that they wouldn’t want to raise their own family in a particular area of town but by staying loyal to the Fair Housing Act, they won’t be able to clearly answer that question for you. 
2. Another question you may not get answered from your real estate agent is what the particular neighborhood you are interested in is like.  If you really mean to ask if the neighborhood has a high ratio of minorities by asking if the neighborhood is safe, your real estate agent will not be able to clearly answer that question for you.  If you wonder if a certain area is safe, do your homework and figure it out for yourself, don’t make your real estate agent uncomfortable by asking questions like that. 
3. Asking what the area schools are like is another similar question that will likely get you a blank stare from your real estate agent.  If you want to know what the schools are like in a particular area you can search online for such answers. 

Basically, if you don’t want your real estate agent to break their ethical code, steer clear of these types of questions and do your own work to find out the answers.  You will likely be able to find out all that you need to know about what it is you are asking without a lot of trouble and without having to ask your real estate agent.  

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

Nobody enjoys thinking about the possibility of a family emergency or natural disaster, but taking steps to prepare for those possibilities should be a priority.   While not lessening the shock and anguish of an unexpected, tragic situation, being prepared will help you to get your life back in order faster and easier.

One thing to consider is having important paper work organized in an emergency binder .  The binder should contain all the important information about your life.  Think about any paperwork or vital information you would need access to in an emergency, such as:

• Vital Records

• copies of birth certificates, adoption records
• copies of marriage licenses, driver’s licenses and passports
• copies of all property and auto records – deeds, leases, titles, etc.
• copies of all property/umbrella insurance policies
• a list of where off-site and original documents are stored

• Financial Information

• list of all bank account numbers
• copies of front and back of all credit cards
• list of all investment account numbers
• list of all retirement/pension account numbers
• detailed information about current income/benefits
• detailed information about mortgages/loans

• Medical Information

• copies of health/life/disability insurance cards and policies
• medical history for each family member
• list of medications and prescriptions, including dose and pharmacy
• details about any ongoing medical conditions/treatments

• Contact Information

• friends and family to reach in case of emergency
• neighbors who have access to your house
• financial institutions, insurance companies, legal advisors
• physicians, specialists, hospitals and other healthcare providers
• employers and benefit administrators

• Family Emergency Plan

• including a family emergency plan in your binder will help you to keep yourself calm and organized during what may be a stressful time

Make sure that your emergency binder is kept in a place where it is easy to get to and that it is easy to carry and that family members are aware of its location.

Secondly, it is a good idea to have a safety deposit box or lock box in which to store your original documents.  This can also be used for storing important computer files and passwords, priceless family photos and valuable jewelry and memorabilia. Include a photo of each member of your family along with fingerprints and dental records.  A home inventory list is also a useful item to have in storage.  Remember that most of the documents in your “Emergency Binder” will be copies.  Originals should be placed in a safety deposit box or lock box for safekeeping.

Whether it’s a family emergency or a natural disaster, tragic events almost always leave people feeling blindsided.  Preparing in advance will help ease the feelings of being overwhelmed and panicked as you put your life back in order.  So, set aside a day to put together your emergency binder to help protect your family now!

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

If you have your house on the market you likely already have everything arranged neatly and perfectly throughout the house.  The one area of your home that you may have forgotten about however is the basement.  Below are a few tips for staging your basement so that those who come to tour your home may be more willing to make an offer. 

1. One tip for staging your basement to make it “show” ready is to pick up all of the clutter off the floor.  Most of the time when folks have a basement in their home they tend to use it as a catch all and therefore many items get tossed down the stairs without a second thought.  If you want the house to show the best it possibly can, be sure to put all of your basement clutter away neatly into storage bins. 
2. Another way to stage your basement for a viewing is to paint the basement floor with a sealing paint. You could use the same paint folks use to paint their garage floor with or you may want to do something fancier such as decorative concrete.  Whichever you choose, cleaning up the floor of the basement is a great way to make a statement during a showing.
3. Another good way to stage your basement in order to possibly have a better showing is by finishing the walls with sheetrock.  This is not a huge project to undertake and is one that you can likely do yourself without breaking the bank.   Finishing the walls in the basement can make a really big difference in the way the basement looks. 
4. Yet another way to stage your basement is to do your part to get rid of that typical basement smell.  Use air fresheners and or fans to circulate the air the basement when you know that someone is coming to look at your house.  You can also use a diffuser with your favorite essential oil to make the basement smell nice and fresh. 
5. If your basement is not well lit, you may want to add a few lamps before a showing.  This is a great way to brighten up an otherwise dreary part of the house. 

These are just a few ways in which you can make the basement of your home more appealing by staging.  

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

Condo living can be quite liberating if you are interested in downsizing and not having to deal with things such as cutting your grass or fixing things when they break.  Whether you rent or purchase a Condo of your own, Condo life is quite different from owning your own home.  There is a lot less upkeep when you live in a Condo vs living in a house but that doesn’t mean that you want to skimp on décor.  Below you will find a few tips for decorating your Condo that will have you loving your little place in no time. 

1. One easy way to decorate your Condo  that you may want to try is to add a few large mirrors to the walls.  Hanging large mirrors in a small space will make the small space look larger.  Many times, Condos can be tiny and have a lot of angles and awkward looking areas that can make a small space appear even smaller.   Mirrors can help to alleviate all of this. 
2. Another tip for decorating your Condo is to paint the walls a nice white.  You can find many different shades of white and can likely find one that will appeal to you.   White paint will brighten up the rooms in your Condo and make the pallet very neutral and easy therefore to decorate. 
3. Yet another tip for decorating your Condo is to add color with large art wall décor.  When you place a large painting on a wall in a small room it keeps the eye from looking towards the small space and brings the eye up to the artwork which helps the area to appear larger.   Not to mention it can add a great deal of beauty. 
4. If your Condo is very small a good way to decorate  and make the area work better for you is to separate spaces with room separators or curtains.  This works well for Condos that are completely open and don’t have a lot of walls in them. 
5. Adding some shelves to the walls in your Condo on which to sit your knick knacks is a great way to make the space your own and to make it look like you and your personality. 

These are just a few ideas and tips for decorating your Condo that you may want to put into practice.  There are many other ways in which you can create your perfect living environment with décor. 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

Many times folks hear about a reverse mortgage on the television and they think it sounds like the best thing since sliced bread.  There are a few things you need to know about reverse mortgages before you decide to move forward with one and below we have listed a few tips on how to avoid a reverse mortgage nightmare.  

1. One way to avoid even thinking about doing a  reverse mortgage  is to not wait until you simply don’t have any other option.  Do not go into something like a reverse mortgage without counseling with a HUD-certified housing counselor.  If you make huge decisions such as getting involved with a reverse mortgage during a time of financial stress, you will likely end up worse off than you started. 
2. Another tip for avoiding a reverse mortgage nightmare is to search around for all that is offered.  You don’t have to settle for a reverse mortgage just because you think it’s the only thing you can do.  Talk to a financial counselor and find out what all of your options might be and then make an informed decision based off of the facts and not just what you think the facts might be. 
3. If the lender you have chosen to move forward with suddenly starts telling you that your home needs a ton of repairs, be sure to find a new lender as quickly as possible.  HUD insures over 95% of reverse mortgages and they only require that the home be safe and functional.  Any small issues that your home might have shouldn’t even come into play during a reverse mortgage consultation. 
4. If you feel pressured at all to sign on the dotted line to receive a reverse mortgage, do your part and do not sign the papers.  You don’t want to end up in a reverse mortgage nightmare just because you felt like you were being pressured into signing the papers.  Again, get up and leave the room if you feel any kind of pressure to sign on the dotted line for a reverse mortgage.
5. Be sure to show up for the closing if you do decide to do a reverse mortgage.  If you are not present things may go astray and you might end up with a raw deal in the end. 

These are just a few tips to avoiding a reverse mortgage nightmare.  Do your part to pay close attention to detail so that you don’t end up living in the middle of a real nightmare.  

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

Moving into your dream home is one of the most wonderful and exciting feelings in the world. However, there are a few moving mistakes that you should try to avoid at all costs if you can.  A few of these mistakes are listed below.  Be sure to do whatever you can do to avoid making these moving mistakes.

1. Typically, when folks move they hire a moving company.  If you are moving from one state to another, don’t make the mistake of thinking or expecting your things to arrive before you do.  Many times your possessions will not even arrive all at one time.  It may be that it takes a couple weeks for everything to arrive at your new home.  Don’t panic.  Realize that this may be the case in the first place and you won’t freak out when it happens to you.
2. One issue when moving into a new home that folks may have is more of just a personal mistake.  To avoid this mistake do your best to let go of the past and embrace the new home and the changes it will bring to your life.  Don’t try to recreate your old home in your new home.  Allow for some growth and change to enter your life and you will be more able to enjoy all that is new. 
3. Be sure to call the school district where you would like your children to attend to make sure they have room for more students.  It is not a good feeling to move into a new home with the expectation of sending your children to a wonderful school only to find out they don’t have room for them and you end up having to send them to a less desirable school system. 
4. If you have to store a few things while you move, do your best to get them out of storage as soon as possible.   Most storage centers charge a monthly fee to store your stuff and there is no need to pay a bill that is not exactly necessary longer than you absolutely have to.   A good rule of thumb is, if you haven’t used something in a couple of weeks to a month you don’t need it and you should throw it out or give it away.  Don’t fall into the trap of storing all of your “stuff” for extended periods of time just because you think you might use it one day. 

Hopefully this list of moving issues you should try to avoid will be helpful to you in your next move.  Do your part to make the move an easy one by realizing what things you should avoid.

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

If you are currently in the market for a new home it is likely that if you haven’t already you will eventually hear the term HOA.  What does HOA stand for you may ask?  HOA stands for Home Owners Association.  Many neighborhoods have a Home Owners Association these days but not all neighborhoods do.  Let’s take a closer look at what an HOA is all about and what exactly the fees associated with an HOA actually cover.

• Home Owners Associations were created to keep neighborhoods on the up and up so to speak.  They will keep your neighbor for instance from painting their house hot pink or putting up an 8 foot tall fence.  HOA’s will also keep your neighbors yards looking nice and manicured as many of them have strict rules about keeping the grass cut short.
• You can expect to pay as much as $400 per month for a Home Owners Association fee.  This price will vary of course depending on how expensive the homes are in the neighborhood in which you choose to live. 
• Many times neighborhoods that have HOA fees will also have things for your enjoyment such as clubhouses and swimming pools for all to use.  Some may even have tennis courts and walking trails for you and your neighbors to enjoy.  If these types of things are important to you then you most likely won’t mind paying an HOA fee each month. 
• You can choose to take part in monthly Home Owners Association meetings or you can choose not to.  Regardless of whether or not you are active in meetings, you will still have to pay your monthly HOA fees so don’t be confused by that. 
• As a new homeowner you need to be well informed about all the rules and regulations as well as the costs associated with your homes owners association.  By staying in the loop you will know what to expect each month. 
• Before buying your new home in a neighborhood that has an HOA, make sure that your new monthly payment as well as your HOA fees fit into your budget. 

As long as you go into an HOA well informed  you shouldn’t have any issues arise as a result of buying a home in an HOA community and you will be more able to enjoy all that an HOA has to offer!

Courtesy of New Castle DE Realtors Tucker Robbins and Carol Arnott Robbins.