Real Estate Information Archive

If you think that once your home goes into foreclosure that you will never be able to own a home again you are wrong.  There are guidelines and wait periods however and those are listed below.  If you do have to go through a foreclosure realize that it is not the end of the world and that there is light at the end of the tunnel.  It may be easy for you to give up and settle for renting the rest of your life but you do not have to.  Become a home owner again with just a few steps that need to be taken.

• All mortgage loan types require a waiting period once you have gone through foreclosure but those waiting periods vary.   If you have a conventional loan backed by Freddie-Mac or Fannie Mae you are going to have to wait the longest period of time before getting another loan as these loans require that you wait 7 years from completion.  Most conventional loans will also require a good debt to income ratio before you can apply for a new loan.
• VA loans, which are the Department of Veterans Affairs backed loans, only require that you wait a period of two years before applying for a new home loan.  Only folks who have served or are serving in the military can apply for these types of loans however.
• FHA loans, Federal Housing Authority, will allow you to have another home loan as quickly as just a year after your foreclosure if you can prove that the situation that caused your foreclosure was out of your control such as a job loss or a medical issue.  If you are unable to provide the needed proof of these types of circumstances you will have to wait three years to get another FHA loan. 

The best advice that you can take if you have gone through a foreclosure is to take the needed time to improve your credit.  Be sure to pay all of your bills on time, or better yet pay them early.  Get your debt to income ratio in good shape and perhaps find a position in a company that pays you well enough to be able to afford to pay a good down payment.  Keep in mind as mentioned before that once you have gone through a foreclosure it doesn’t mean that you can never own a home again.  Don’t give up and keep pressing forward and you may find that you own your own home again sooner than you may have thought possible.

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

The gift of real estate is the gift that keeps on giving, and if you are in the place where you can do something like this for someone you love, you need to be sure to abide by the tax rules that are associated with giving such a large gift. 

• It may be a good idea to give the cash for your loved one to purchase a house instead of purchasing a house for them.  You may think you know your relative or friend better than anyone but you may not know all their secret hopes and dreams because they may not tell you every little detail about themselves.  If you give cash to your loved one to buy a home you need to keep the amount at $14,000 or less.  The gift tax limit for a yearly gift called the annual exclusion allows you to give $14,000 cash or less to as many folks as you would like each year tax free.
• Another great way to give the gift of real estate without disobeying any tax rules is to give the gift of a cash down payment. You will want to make sure that the loan officer knows that this is a gift and not a loan.  You will need to fill out the appropriate paperwork so that the fact that the down payment monies is a gift will be well clarified, otherwise you risk your friend or loved one losing out on getting their mortgage. 
• If you would like to sell your children’s childhood home to them you may do so but be sure that you are careful how you do it.  Seller financing your home to your children is a great way to avoid being taxed to the max.  In this type of sale you basically will be given a small down payment and you will hold the note on the property.  This type of real estate gifting is great as long as you can trust your loved one to pay down the mortgage. 
• Selling your home to your loved one at a low ball price is another way to give the gift of real estate all the while abiding by tax rules.  Of course the IRS may think you are crazy but once they see you are selling to a family member they will understand. 

Remember if you do decide to give the gift of real estate to abide by the tax rules and regulations and you will be sure to have some excited recipients! 

Courtesy of Wilmington DE Realtors Tucker Robbins and Carol Arnott Robbins.

These are the Community Supported Agriculture (CSA’s) programs in the greater Wilmington Delaware market. If you like to support the local farmers, this is the absolute best way to help. You get to pick up freshly harvested vegetables once a week, every week, for the entire season. Most of these programs started June 1^st, but many are prorated, so there is still plenty of time to sign up!

Highland Orchards Farm,  131 Foulk Rd., Wilmington DE 19803  302-478-4042 www.highlandorchardsfarmmarket.com

Coverdale Farm, 543 Way Rd., Greenville DE 19807   302-239-2334 www.delawarenaturesociety.org/CoverdaleFarmPreserve

Delaware Local Food Exchange, 8 Trolley Square, Wilmington DE 19806    302-407-5579  www.delocalfoodexchange.com

SIW Vegetables 4317 Creek Road, Chadds Ford PA 19317   610-388-7491  www.siw-vegetables.blogspot.com

Thornbury Farms,  12567 Thornbury Rd, West Chester PA 19382  610-793-2933 www.thornburyfarmcsa.com

Fair Weather Farm at Fairhill,  5821 Telegraph Rd, Elkton MD 21921  302-530-7028  www.fairweatherfarmfairhill.com

Enjoy!!

 

Summer has arrived!  Many families plan for their summer vacation months in advance but did you know that you need to prepare your home for your vacation as well?  Below are a few tips on what you should do to prepare your home for your upcoming vacation.   

1. Mow your grass before you leave for your vacation.  I would suggest that you set the mower on the shortest cut you can get so that you don’t have to worry about it growing up while you are gone.  If you are going to be gone for an extended period of time you may want to arrange to have a family member mow your yard at least once while you are gone.  Mowing your yard before vacation makes it look like you are still at home and therefore may keep away potential intruders. 
    
2. Another thing you should do before you leave on vacation this coming summer is to contact the post office and have your mail canceled while you are gone.  You can pick your mail up at the post office once you arrive back home and start your service back up.  This may sound like a huge ordeal but it really is an easy way to keep things neat and tidy while you are away from home.  This simple act will also deter intruders.
    
3. If you don’t want your house to stand out as if no one is home, you may need to install a flood light that is activated by motion outside of your home.  This way if someone walks up to your house that is not suppose to be there the neighbors will be able to see them and can report anything out of the ordinary.  Another thing you can do with lights is to set a few inside lights on a timer so that it looks like you are home.
    
4. Some water heaters have a VAC mode otherwise known as a vacation mode. If you have this setting on your water heater it’s a good idea to use it while you are away.  Doing this is not only a good way to save on your bill but it is also a good way to avoid any type of flooding that may occur while you are gone.  The last thing you want to come home to is a flooded house due to a broken or burst pipe.

Hopefully these tips will get you started in the right direction before you set off on your summer vacation and you’ll be able to relax and have fun without worrying about your house! 

Courtesy of Wilmington DE Realtors Tucker Robbins and Carol Arnott Robbins.

2016 Free Summer Outdoor Concert Series around Wilmington DE.

June 5    6:30        Diamond State Concert Band – Marches, Show Tunes - Bellevue State Park

June 8    6:30        Newark Community Band – White Clay Creek State Park

June 9    6:30        Audrey McLaughlin – The Voice Finalist -  Country Music – Bellevue State Park

June 12  6:30        Malarkey Brothers – Celtic folk/Rock Band - Bellevue State Park

June 13  6:30        Rachel Schain & Hot Breakfast – Pop rock/ Dork Rock - Rockford Park

June 13  6:30        Dean Sapp & Harford Express – Centreville Park (rain date June 20)

June 15  6:30        Unity Reggae – Roots Reggae - White Clay Creek State Park

June 16  6:30        Nice Like Dat – Folk, Blues and Bluegrass - Bellevue State Park

June 19  6:30        Sin City – Americana - Bellevue State Park

June 20  6:30        Surreal Nation – Alternative Folk - Rockford Park                        

June 22  6:30        Christine Havrilla and Gypsy Fuzz – Neofunkadelicfolkpoptwang Rock - White Clay Creek Park

June 23  6:30        Summit Hill – Bluegrass and Old Country - Bellevue State Park

June 26  6:30        Spokey Speaky – Roots Reggae - Bellevue State Park

June 27  6:30        Sara Ann Garrison – Country - Rockford Park

June 29  6:30        Oh Boy! A Buddy Holly Tribute – White Clay Creek State Park

June 30  6:30        287^th Army Band – Patriotic - Bellevue State Park

July 2    7:00      The Barbone Street Band (New Orleans Jazz & Dixie Land) –   Dravo Plaza

July 3      6:30        Boy in Black (Johnny Cash Tribute Band) - Bellevue State Park 

July 6      6:30        Scott Bandy & The Texas Heat – Country - White Clay Creek State Park

July 7      6:30        Big Package – Funk and Soul Band - Bellevue State Park

July 9    7:00      Timland & Kane (Family Night with Irish Folk Music) – Dravo Plaza

July 10    6:30        US Navy Country Current – Country and Bluegrass - Bellevue State Park

July 11    6:30        Chris English – Blues - Rockford Park

July 13    6:30        Sin City Band – Americana - White Clay Creek State Park

July 14    6:30        West Chester Swing Kings – Big Band – Swing Music - Bellevue State Park

July 16  7:00      Best Kept Soul (Rhythm and Blues, Gospel, Jazz, Funk, Hip Hop and Rock) – Dravo Plaza

July 17    6:30        The Big Jangle – Songs of Tom Petty & the Heartbreakers - Bellevue State Park

July 18    6:30        Vanessa Collier – Blues - Rockford Park

July 18    6:30        1^st State Symphonic Band – Centreville Park (rain date July 18)

July 20    6:30        Dukes of Destiny – Blues - White Clay Creek State Park

July 21    6:30        Seven Rings – Bellevue State Park

July 23  7:00      Elizabeth Knecht (Standards, Show Tunes, Italian Opera)– Dravo Plaza

July 24    6:30        Chorduroy – Rock, Blues & Soul - Bellevue State Park

July 25    6:30        Chapel Street Junction – Blue Grass/Americana - Rockford Park

July 27    6:30        Keystone Mountain Boys – Bluegrass - White Clay Creek State Park

July 28    6:30        Electric Brigade, US Naval Academy – Rock & Roll - Bellevue State Park

July 30  7:00      Voodoo Deville (Blues, Boogie & Swing) – Dravo Plaza

July 31    5:00        Parrots in the Park – Jimmy & the Parrots - Bellevue State Park

Aug 1      6:30        Jahiti of Brown Fish – World/Reggae -  Rockford Park

Aug 1      6:30        Childrens Concert: Two of a King – Centreville Park

Aug 3      6:30        Sean Reilly – Sinatra Style - White Clay Creek State Park

Aug 4      6:30        John Flynn –  Family Concert - Bellevue State Park

Aug 6    7:00      The Crawdaddies ( Cajun, Zydeco, Blues, Roots, Rock and Reggae)  – Dravo Plaza

Aug 7      6:30        Jah People – Root Rock Reggae Philly Style - Bellevue State Park

Aug 8      6:30       Pristine Raeign – Soul/Funk/R&B -  Rockford Park

Aug 8      6:30        Sin City Band – Americana - Centreville Park (rain date Aug 15)

Aug 10   6:30        USNA Electric Brigade – Rock/Pop - White Clay Creek State Park

Aug 11   6:30        Helixx – Rock / Pop Band - Bellevue State Park

Aug 13 7:00      Tony Sands (“Frank Sinatra 100^th Year Birthday Bash”) – Dravo Plaza

Aug 14   6:30        kRUSH – A Tribute to Rush - Bellevue State Park

Aug 15   6:30        Nelly’s Echo – Pop/R&B - Rockford Park

Aug 17   6:30        Apex Revloution – Today’s Country and 80’s Rock - White Clay Creek State Park

Aug 18   6:30        Sugar Rush Rocks – Teenage Rock Band - Bellevue State Park

Aug 20 7:00      Karen Rodriguez Latin Jazz Ensemble (Latin Swing, Jazz, Salsa) – Dravo Plaza

Aug 21   6:30        Kategory 5– Classic Rock & Pop - Bellevue State Park

Aug 24   6:30        Chorduroy – Rock Reggae Soul Funk Pop and Hop - White Clay Creek State Park

Aug 25   6:30        Innoko– Indie/Folk/Rock - Bellevue State Park

Aug 28 7:00      Alfie Moss & the Dexter Koonce Project (Rhythm, Blues, Motown Oldies) – Dravo Plaza

Aug 28   6:30        The British Invasion Tribute – 60s British and American Music - Bellevue State Park

Sept 5     3:00        Boy in Black (Johnny Cash Tribute Band)        

 

Shopping at local farmers markets not only puts the freshest produce available on your dinner table, it helps helps local farmers and communities. Below is a comprehensive list of local farmers markets available now through the fall.

Tuesday

Delaware Avenue Farmers Market 1727 Delaware Ave, (corner of Delaware & Scott) Wilmington 4:00  – 7:30 pm through Oct 25

Wednesday

Rodney Square, Wilmington  10:00 am – 2:00 pm Thru Oct 26

Route 9 at Bowlerama parking lot – 3031 New Castle Ave,  New Castle 3:00 – 7:00 pm thru Oct 26

Thursday

Cool Spring Park 10^th & North Jackson, Wilmington  4:00 – 8:00 PM June `16 thru Oct 6

Planting Hop  - Herman Holloway Sr. Campus, 1901 N Dupont Highway, New Castle  Noon – 2:00 pm June 16 – Sept 22

Rockwood Park Washington St Extension, North Wilmington 3:00 – 7:00 pm thru Oct 27

Winterthur 5105 Kennett Pike in front of the museum store 1:30 – 5:30 July – September

Friday

Bellefonte Farmers Market – 500 Duncan Road (Bellevue Community Center), Wilmington, 4:30 – 7:30 pm thru Sept 9

Glasgow Farmers Market 2275 Pulaski Highway (near Rt. 40 & Rt. 896 intersection) , Glasgow - 3:00 – 7:00 pm thru Oct 28

Kennett Square – 101 E State St, Kennett Square PA 2:00 – 6:00 thru November

Southbridge Youth Garden – Neighborhood House Inc., 1218 B St., Wilmington 3:00 – 7:00 pm last Friday of the month June – Oct

Saturday

Centreville Farmers Market – 52 Twaddell Mill Road, Centreville 8:30 am – 11:30 AM first and third Saturdays June 18 – Oct 15

New Garden Farmers Market 8943 Newport Gap Pike (Rt. 41) Avondale PA 9:00 am – 1:00 pm thru Nov 19

West Chester Growers Market – corner of N. Church and W. Chestnut in downtown West Chester PA  9:00 am – 1:00 pm thru December

Sunday

Co-Op Farmers Market in front on Newark Natural Foods in the Newark Shopping Center 230 E. Main St Newark 9:30 AM – 2:00 pm thru Nov 20

It’s summer, and for many of you that means entertaining overnight guests.  While these visits are generally enjoyable, they do require many preparations in advance of the actual arrival:  readying rooms, collecting extra linens,  making menus ,  shopping for  groceries,  scheduling events and activities,  and the like..  A long list, yes, but even longer if some of your guests are young children, and your home has not been childproofed  recently.

Although child supervision and safety is primarily the responsibility of the parents, keep in mind that  household injuries are one of the top reasons children under age 3 visit the emergency room and do whatever you can to prevent an accident in your home..

Common sense dictates that you remove all fragile and sharp objects out of a child’s reach and that you do the same with any household product or medicine that could be toxic, but safety experts strongly suggest that you look at the home from a child’s perspective (on your hands and knees, if possible) to detect any less obvious health hazard.

Many inexpensive and relatively easy to install child-protection devices are available in hardware and children’s stores or online and  include such items as:

• Plastic electrical outlet covers
• Safety latches and locks for drawers and cabinets, especially in the kitchen and bathroom
• Safety gates at tops and bottoms of stairs
• Door knob covers and door locks
• Window guards and safety netting
• Corner an edge bumpers

Less obvious precautions may well require that you:

• Keep purses and bags off the floor
• Turn handles of pots on stove so that they face the back
• Tie up window covering cords so that they are out of reach of children
• Remove tablecloths and coverings that toddlers may try to pull themselves up on.
• Frequently scan floor for potentially dangerous dropped items
• Remove any plants that could be toxic if ingested
• Keep the number for the National Poison Control Center – (800) 222-1222 in the United States – and your local emergency numbers close to every phone.

Visit Totsafe.com for a comprehensive child safety checklist and consult it regularly to insure a happy and safe summer visit with children.

Courtesy of Wilmington DE Realtors Carol Arnott Robbins & Tucker Robbins.

Congratulations! You’ve survived the process of leaving one home and finding another and the onus of packing everything up and then unpacking the same boxes.  You’ve found a new bank and a new doctor; you’ve investigated trash pick-up times, licensing requirements, and car registration; and your mail is being forwarded on a regular basis.  So far so good, but now that you’re somewhat settled in your home, it’s time to become familiar with your new environment.

The following tips are designed to help you become part of your new community and re-create the sense of belonging you had in your previous location.

• Go online to learn about the new area and what it has to offer. Look at the city or chamber of commerce website. Research religious facilities, cultural opportunities, parks and outdoor activities, and so much more!
   
• Acquire a regional map and drive around. Explore shortcuts and pinpoint the location of shopping malls, medical services, libraries, the post office, city offices, etc.
   
• Talk to neighbors. Ask advice about home maintenance companies, babysitters, doctors, or the civic league or homeowners’ organization association.
   
• Take a walking tour of your neighborhood. Introduce yourself to and initiate conversations with neighbors who are outside. Compliment their yard or ask directions, for starters.
   
• Attend garage/yard sales in the vicinity of your home. Shoppers at these events are generally friendly and gregarious, so talk to them.
   
• Read the local newspaper to discover places of interest and happenings in the area. Look for clubs or group meetings that focus on your interests--art, gardening, books, sports, crafts, e.g.
   
• Join a recreation center or gym. Attend classes there or work out with a group that you know will share your interests.
   
• Volunteer. Check with a church or synagogue, a hospital, library, or school near you. Volunteering is a terrific way to meet people and to make you feel an integral part of the community.
   
• Give a house warming party and invite all your neighbors. Such an occasion is a good reason to finish unpacking and decorating your new home and a wonderful way to make friends..

Before long you will become familiar with your new environment and be comfortable there. Best of all, you’ll “belong” once again! 

Courtesy of Wilmington DE Realtor Tucker Robbins.

With the snow gone and the ground thawed, many eager homeowners and landscape professionals across the country are rolling up their sleeves and reaching for their shovels to start projects that require digging this spring.

During the transition into "digging season," Common Ground Alliance (CGA), the association dedicated to protecting underground utilities and the people who dig near them, reminds homeowners and professional diggers that calling 811 is the first step towards protecting you and your community from the risk of unintentionally damaging an underground line.

Every digging project, no matter how large or small, warrants a free call to 811. Installing a mailbox or fence, building a deck and landscaping are all examples of digging projects that should only begin a few days after making a call to 811. Calling this number connects you to your local one call utility notification center.

According to data collected by CGA in a phone survey in late February, more than half (46 percent) of American homeowners said they plan to do DIY projects involving digging this year, but 40 percent of them do not plan to make a free call to 811 before digging. Extrapolated to the full population of U.S. homeowners, approximately 51.8 million people will dig this year without first calling 811.

A utility line is damaged every six minutes in America because someone decided to dig without making a call to 811 to learn the approximate location of buried utilities in their area. Unintentionally striking one of these lines can result in inconvenient outages for entire neighborhoods, harm to yourself or your neighbors and repair costs.

As a result, CGA offers the following tips to make sure you complete your project safely and without any utility service interruptions, so you don't become a statistic.

Here's how the 811 process works:

1. One free, simple phone call to 811 makes it easy for your local one call center to notify all appropriate utility companies of your intent to dig. Call a few days prior to digging to ensure enough time for the approximate location of utility lines to be marked with flags or paint.

2. When you call 811, a representative from your local one call center will ask for the location and description of your digging project.

3. Your local one-call center will notify affected utility companies, which will then send professional locators to the proposed dig site to mark the approximate location of your lines.

4. Only once all lines have been accurately marked, roll up those sleeves and carefully dig around the marked areas.

There are nearly 19 million miles of underground utility lines in the United States that your family depends on for everyday needs including electric, gas, water and sewer, cable TV, high-speed Internet and landline telephone. That equals more than a football field's length of utilities for every person in the United States. With that much critical infrastructure underground, it's important to know what's below and call 811 before digging.

To find out more information about 811 or the one call utility notification center in your area, visit Call811.com. (BPT)

Courtesy of Wilmington DE Real Estate Expert Tucker Robbins.

The average tax refund in 2015 was approximately $2,800 according to the IRS, and similar refunds are expected in 2016. For those getting a refund, there are many options to consider in deciding what to do with this unexpected income. The big question is what is the smartest option?

While you may want to splurge with your refund, careful management for the majority of the funds is a smart financial move. A tax refund or any unexpected income can be used to help reach your financial goals without impacting your current standard of living.

Massachusetts Mutual Life Insurance Company (MassMutual) suggests three things to consider for this year's tax refund:

1. Pay down debt. Take a look at your current debt. Find out which have the highest interest rates and consider paying those down first to help prevent interest from continuing to add up. Another common strategy is to pay off your smallest debt first, then work your way up to the larger ones.

2. Build an emergency fund. Consider using at least a portion of your tax refund to give your emergency fund a boost. Make a goal to stash away three to six months' worth of expenses in cash in an emergency fund you can easily access if you need to, such as a savings account, and use your refund to work toward that goal.

3. Pay the future forward. The positive news is that Americans are living longer. The challenge is that their health may change with aging, and people are now faced with saving for a retirement period of up to 30 years. So if you haven't started to save or want to boost your retirement savings, consider putting your refund in a retirement savings plan. You may also consider taking a portion of your refund for higher education - whether for yourself, a child or grandchild. Or, if you haven't considered life insurance or disability income insurance yet or need to revisit your plans, now's a good time to talk to a financial professional.

A tax refund is money you've worked hard for, and it is OK to do something fun with it. Just make sure you consider committing at least a portion toward your short-term and long-term financial needs and goals. (BPT)

Courtesy of New Castle County DE Real Estate Expert Tucker Robbins.