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5 Things to Consider in a New Neighborhood

Thursday, June 2, 2022
by Tucker Robbins

In most home buying situations, you are not only purchasing a house, but you are also buying the neighborhood. There are many factors you cannot control, but to avoid regrets, consider these five things while house-hunting: 

 

  • Affordability: The mortgage payment is an important part of your budget, but keep in mind that property tax is normally added to your monthly loan payment. Property tax is based on the assessment value of the property. The assessment value depends on different factors, and the home’s location is number one. Ask your Realtor® for past tax information, but the house may be reassessed after closing.  
     

  • How you live: Satisfaction with your home’s location will depend on the general area. Are you a pet lover with four dogs? You need a pet-friendly community. Is your family a large one with lots of noisy backyard activities? Look for active families in the neighborhood. Do you need close access to theaters, restaurants, or shopping? Your new home does not need to be a long commute to things you love.  
     

  • Schools: Communities in a high-rated school district normally have homes with higher price tags. As a parent, buying a home in a good school district is an investment in your child’s future, and if you do not have children, it is a wise financial investment as your home should at least keep its value as time goes by. 
     

  • Safety: Everyone wants to feel safe in their home. Several websites offer crime stats, but it may be best to contact local law enforcement for current information about the area. 
     

  • Utilities: Is high-speed internet or natural gas available in the neighborhood? Does your water come from the municipal water supply or a well? Your agent should have all of this information for you but asking the homeowner if they are willing to share how much they pay in monthly utilities will help you plan your monthly budget. 

 

Performing some “home” work is probably the best way to learn more about a community. Drive through at different times during the day or take a walk and pay attention to the sights, sounds, and–yes–smells of the neighborhood. You will be spending a lot of time there and being content in your new home is the most important location factor of all! 

 

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

 

Photo credit: istock

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Common Real Estate Myths

Wednesday, May 4, 2022
by Tucker Robbins

 

 

 

 

 

If you are in the process of buying or selling a home, you may have already come across some of these common real estate myths.  Real estate myths are abundant and are quite prevalent in the real estate world.  Below you will find a few real estate myths to be wary of whether you are buying or selling a home. 

  1. Some folks believe that if you don’t use a real estate agent you are likely to get a better deal.  This is totally false because no matter which one of you have the agent…one of them is going to get the commission be it the buyer’s agent or the sellers agent.  The only way to get around dealing with paying a commission to a realtor is if you sell or a buy a home that is for sale by owner.  If you do decide to purchase or sell by owner, be very careful because there are a lot of things that can and perhaps will go wrong when you try to go it alone.  Real estate agents deserve all the commission they get because they do a lot of work that you don’t have to worry about doing yourself. 
     
  2. Another common real estate myth  is that you should set your asking price higher than what you expect to make.  If you price your home too much above the market value you are likely going to be doing yourself an injustice.  Folks are going to pass your home by because they know that it is not in their price range.  Setting your home at a reasonable price is a good way to get buyers to show some interest and not be scared off by sticker shock. 
     
  3. Yet another common real estate myth is that all of the houses listed in the multiple listing systems are all available to look at online.  Most of the houses on MLS are listed online but if you don’t tell your realtor that you want your home listed online he or she may not do so. 
     
  4. Another real estate myth  is that having an open house will basically guarantee that you home will sell.  While open houses are good to get folks out looking at your house, they don’t always bring the buyer to your door.  Typically those that look at your house during an open house are just browsing and likely won’t give you an offer. 

Do your part not to let these real estate myths fool you by knowing them ahead of time before you buy or sell a home.  

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

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Mortgage Shopping: Avoid These Mistakes

Wednesday, April 20, 2022
by Tucker Robbins


Searching for the right mortgage for your new home is likely the most important step when buying a new home. Having that preapproval lets you know how much house you can afford as well as getting your wallet ready for budgeting. There are some things you can do that can make lenders second guess your application, and you want to avoid doing anything that can sabotage the purchase of a new house: 

 

  • Not knowing what is on your credit report can set you up for a surprise when a potential lender pulls it for inspection. Obtain a free report through your bank or credit union so you can correct or dispute errors before you fill out a loan application. 
     

  • Sending late payments on credit cards and other monthly bills during the approval process will show on your credit report. 
     

  • Opening a new line of credit for large purchases will raise your debt-to-income ratio (DTI). Except in emergencies, avoid buying anything on credit until after closing on your new home. 
     

  • In the same manner, closing credit accounts can negatively affect your credit score. If you have paid off credit card balances, leave them active, as this shows lenders that you have credit options available. 
     

  • Trying to help a family member get a loan by co-signing with them will raise your DTI and can discourage lenders. 
     

  • Unless it is completely unavoidable, changing jobs can hurt your loan chances. Lenders like to see a steady income from employment with the same company or same field. 
     

  • If you are using gifted funds to assist with the down payment, do not deposit the money into your bank account without documentation from the giver. Learn more about the procedures for down payment gifts from the balance. 
     

  • Do not let poor credit and lack of a 20% down payment keep you from buying a house. FHA, USDA, and the VA all have programs to help make the dream of homeownership a reality. Check each website for eligibility requirements. 

 

Lastly, buying a home without a REALTORⓇ can be a costly mistake. No, there is no money coming directly from your pocket to pay the buyer agent–their pay comes from the home sale. Find a reputable agent who knows how to find the right house for your budget as well as your wants and needs, plus knows all about negotiating a home sale price. 

 

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

 

Photo credit: Forbes

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A Few Things to Consider Before Purchasing a Condo

Wednesday, April 6, 2022
by Tucker Robbins

 

 

 

 

 

 

 

 



If owning your own home isn’t on your agenda and you would rather purchase a condo or townhome to make things a bit easier on yourself, you are not alone.  There are several things however that you should consider and think about before purchasing a condo and a few of those things are listed below. 

  1. One thing to consider when purchasing a condo   is who the manager is.  If you have a manager that is easy to deal with then you shouldn’t have any issues, but if you have a manager that doesn’t see eye to eye with you on things you may find yourself wishing you never would have purchased a condo. 
  2. There are fees associated with owning a condo.  You should definitely check into the fees associated with your particular condo before purchasing it.  These fees can range anywhere from $200 to $400 per month or year depending on how upscale the condo is you want to purchase. 
  3. Looking at the condo financial statements is a great way to see if you really want to purchase a condo or not.  For example if the condos financial statements do not include paying for repairs on a broken street light, you may end up seeing the repair costs tagged on to your bill.  Taking these types of things into consideration could sway your decision one way or the other regarding purchasing.  If you find that repairs on such things are not included in a particular condos financial statements you may want to search for a condo that does cover them. 
  4. Knowing the rules of condo living can make or break your decision of purchasing as well.  Some condos don’t allow holiday decorations while others just tell you where to park.  It’s up to you to decide what is most important to you and what rules simply do not matter that much, however knowing the rules is imperative. 
  5. Checking out the condos liability insurance to make sure there are no pending lawsuits against it is also a good idea. 

These things to consider before purchasing a condo are just the tip of the ice berg.  Do your due diligence, ask questions and find out all there is to know about condo living  before sinking your money into a one you are not happy with. If you do all of this and you are satisfied, you will likely enjoy condo living and all it has to offer.  

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

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Make Your Home a More Relaxing Place

Wednesday, March 23, 2022
by Tucker Robbins


Let’s face it, we are all busy and we all typically look forward to relaxing after a hard day’s work once we arrive home!  Can I get an Amen?  

Many times however, we come home to a house that can sometimes be less than relaxing.  Whether it is the kids running around fighting with one another or the animals leaving us messes to clean up, there are many reasons why our homes can often times be less than relaxing. 

Below are listed a few tips to help make your home a more relaxing place regardless of what is going on around you. 

  1.  Placing a big comfortable chair in a quiet nook in your home with perhaps a blanket thrown over it can do a lot towards adding a relaxing comfy feel.  Be sure to put this chair and blanket in an “out of the way” space such as a back bedroom so that you will be able to go there to escape the day. 
     
  2. Another idea for making your home a more relaxing place   is to add some fluffy white curtains to your patio or porch.  Add a few pieces of outdoor furniture and a table or two as well.  This will allow you an outdoor space in which you can retire to after a long hard day at work.  These spaces are great for when the weather is good. 
     
  3. Adding an upholstered headboard to your bed can make the entire room look more soft and serene.  Also if you happen to have a television in your bedroom, take it out and put it somewhere else in the house.  Your bedroom should be your sanctuary at all times. 
  4. Another way to help make your home a more relaxing place is to add a speaker system throughout your house.  This way you can play soft relaxing music and listen to it as you move from room to room. 
     
  5. Much in the way that music can be used to make your home a more relaxing place, diffusing essential oils into your home can go a long way as well!  If you don’t have a diffuser you should definably order one today! 

These tips to make your home a more relaxing place are a good place to start!  Once you do your part to make your home your sanctuary you will likely love the changes!  

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

Photo credit: thedistrictrecovery.com

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Ten Important Financial Terms for Home Buyers

Wednesday, December 22, 2021
by Tucker Robbins


While meeting with a lender to discuss the purchase of a new home, you may hear and read words you are not familiar with. Knowing these financial terms and acronyms will make that meeting go more smoothly. Here are some common financial terms that will come up during your mortgage transaction:

  • Adjustable-Rate Mortgage (ARM): a type of mortgage in which the interest rate applied to the outstanding balance varies throughout the life of the loan. A fixed rate may be applied for the initial loan period, but after that, the rate will fluctuate. Sometimes called a Variable Rate Mortgage.
     
  • Annual Percentage Rate (APR): the yearly rate of interest that an individual must pay on a loan.
     
  • Closing Costs: fees and expenses paid at closing, beyond the down payment; costs can run 3 to 5 percent of the loan amount and may include title insurance, attorney fees, appraisals, taxes, and more.
     
  • Debt-to-Income Ratio: the borrower’s monthly debt payments divided by their gross monthly income; the number is one way lenders measure the borrower’s ability to manage monthly payments of the loan they receive.
     
  • Earnest money deposit (EMD): deposit made after buyers make an offer on a property; sometimes referred to as a good faith deposit; held in escrow until closing.
     
  • Escrow: an arrangement in which a third party distributes the money paid during the property-buying transaction.
     
  • Fixed-Rate Mortgage (FRM): a type of loan in which the interest rate on the mortgage is fixed; the rate will not change during the term of the mortgage.
     
  • Loan Estimate: tells important details about the mortgage loan requested; compare and choose the loan that's right for your budget by getting a loan estimate from more than one lender.
     
  • Pre-Approved: when the home buyer is approved by a lender for a specific loan amount after the buyer provides documented financial information to be reviewed and verified by the lender.
     
  • Pre-Qualified: an estimate of how much the home buyer can borrow based on a review of financial information; not a guarantee of being approved.

Do not go into the lending process without some knowledge under your hat! Going into what is probably your largest investment without knowing anything about it may end up in disappointment and having to wait longer to buy your new home. The Consumer Financial Protection Bureau offers many other terms not listed here and is a great resource for learning more.

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

Photo credit: investadisor

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Moving? Should You Sell or Lease?

Wednesday, October 27, 2021
by Tucker Robbins

When the time comes to relocate, the thought of selling your home while purchasing another seems too much, so renting your current place sounds like a win-win for you. The extra income sounds great, knowing your house is still there in case you need it is another nice thought.  There are pros and cons to this decision, however, so look through these tips to help you finalize your decision: 

 

  • One major factor to consider is when you know the move is not permanent.  If you know you will be returning in a few years, and it may be a good idea to lease while you are away so you will not have to house hunt upon your return. 
     

  • Take a close look at the financial aspects of renting your house: 

  • - Landlord’s insurance premiums may cost more than a homeowner’s policy. Talk to your insurance agent about the differences in cost. 

  • - If you have equity in your house, or the money a sale will generate will allow for a nice deposit on another, you really should consider a sale. 

  • - Do the math--if you have a loss after all your expenses (insurance, repairs, property taxes, etc.) are deducted from the rental payments, it would be a better idea to sell. 
     

  • Take into consideration that in larger areas, there may be times of a vacancy.  Can you handle your current mortgage and rent or mortgage payment in the new place?  If not, put the house on the market. 
     

  • Renting may be a good choice if the house needs repairs or improvements to bring a good sale price, and the cost of those fixes all at once is out of your budget. 
     

  • Consider the occasional tenant that will not care for the property as you do. Landlord insurance will not cover normal wear-and-tear, nor intentional damage. 
     

  • Things can happen, and even good tenants are suddenly unable to pay rent on time--or worse, stop paying rent--and you will be stuck with the mortgage payment, not to mention the possibility of the costs of going through the eviction process.  
     

  • If you live in an area that attracts visitors or tourists, consider short-term leasing with an online booking company. Be sure you are within your city’s regulations for short-term rentals and consider the frequent cleaning costs and other risks taken when renting to tenants that you have little means to check into before they enter your house. 

 

The stress of renting just might be greater than the house-hunting in the case of a temporary move.  Talk to other property managers in your area and look at your financial information before you make the final choice. When you decide to sell, call New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

 

Photo credit: multibriefs

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A Seller's and Buyer's Guide to Property Disclosures

Wednesday, October 13, 2021
by Tucker Robbins

Realtor® Magazine’s definition of disclosures is “federal, state, county, and local requirements of disclosure that the seller provides, and the buyer acknowledges.”  In most states, this means that a seller must let a buyer know about known problems with the property they are selling.  Disclosing issues with a house is important for both buyer and seller. Understand more about property disclosures in this guide: 

 

Disclosures and the Seller 

  • - Every prospective property seller will receive a disclosures form from their listing agent.  This form should be filled out truthfully and to the best of the seller’s knowledge. 
     

  • - Most states want these items disclosed to the buyer:  lead paint or asbestos, previous repairs or additions, mold or water damage, pest issues, drainage problems, foundation cracks, problems with HVAC and other appliances, and roof condition/age. 
     

  • - The listing agent will be aware of all government disclosure requirements--federal, state, and local.  Transparency from the seller is a must at this point of the property sale. 
     

  • - “Better safe than sorry,” should be the homeowner’s motto when it comes to disclosures.  For instance, if there is a possibility that mold is an issue under the house, an inspector should have a look. 
     

  • - Disclose minor things that you have learned to live with.  Items a seller considers small--such as a rattling window on a windy day, or a repair made many years past--can be big things to the buyer. 

  • The disclosure should be ready before the seller accepts an offer--for their protection. 

 

What the Buyer Needs to Know 

  • - Once a potential buyer receives the disclosure statement, they should read it over carefully and without distraction. Any questions should be marked or written down and questions presented before the disclosure form is signed. 
     

  • - The added expense of having a home inspection is vital to this part of the sale.  When the buyer meets the inspector, the disclosure form should be in hand so each item can be checked out thoroughly. 
     

  • - Check local government building permit and zoning information to make sure any additions were performed legally by licensed people. 
     

  • - If negotiations about any disclosure’s issues break down, it may be best for the buyer to walk away from the sale. 
     

  • - In the end, doing due diligence is the best way for a buyer to find problems that will be a major issue after the sale. 
     

Disclosures should be a seller’s protection plan, and smart sellers will be completely honest, and even disclose more than necessary.  Sellers should make sure that their state laws ask them to disclose things like traffic noise, undesirable neighbors, or even paranormal activity!  Choosing a Realtor® with experience will help sellers through the disclosures process so that buyers will have full confidence in the property they are purchasing, which makes for a quick and smooth sale! 

 

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

 

Photo credit: mwlp

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Financial Mistakes for First-Time Homebuyers to Avoid

Wednesday, September 29, 2021
by Tucker Robbins

Finding out just what is involved in the home-buying process can take some first-time homebuyers by surprise. It is not just a process of finding the right house, but the financial end can be overwhelming. Keep these tips in mind to help you avoid common errors a home buyer can make: 

 

  • The all-important first step: before going to a lender, make sure your credit is in good standing. 
     

  • Being pre-approved for a mortgage does not impress many sellers, so it is important to be pre-qualified. Talk to different lenders to line up the best deal for you and your budget. 
     

  • Do not overestimate how much you can afford. Avoid properties on your initial search that are truly dream homes. The pre-approval process will offer a reality check because your approved mortgage amount is set. 
     

  • Applying for a loan for a new car, credit cards, or even new furniture to go in your home can hurt your credit score during the mortgage process. 
     

  • Sometimes buyers assume that all costs of buying a house are included in the loan amount, which is not the case. Closing costs, on average, are 2-5% of the purchase price of the home, and there is earnest money and a down payment to be made. 
     

  • Do not let your finances deter you from buying a home! While the process may take more time, there are several programs ready to assist first-time home buyers. Many require less than 20% down. Other programs provide financing for those who live in rural areas, as well as those with credit issues or lower income. Go to realtor.comⓇ for a list of available programs. 

 

You might also believe that it will cost out of pocket to have a RealtorⓇ represent you as a buyer’s agent. Not true! Their fee is paid from the purchase of the home on the seller’s end of the transaction. Your agent will guide you along this winding path but will do all they can to lead you to the house at the end! 

 

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

 

Photo credit: Hunt Mortgage

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Have You Outgrown Your House?

Wednesday, September 1, 2021
by Tucker Robbins


Your house was no less than perfect when you first bought it, and now, after time and changes in your life, things seem to be getting tighter with every day that goes by! How do you know you have outgrown the space and need to think about upsizing? Here are a few tips to help you decide: 

 

  • One indication that you are running out of space is clutter. Totes of stored seasonal clothing stacked in the bedroom corner, or maybe you no longer invite friends over because the clutter is embarrassing. It is either time to declutter or move! 
     

  • Another sign to look for is furniture that is crammed into any available spot. 
     

  • If it is hard to walk through the maze of pieces you have acquired over the years, they need to be displayed or set up properly so you can enjoy them. 
     

  • Probably the most aggravating thing about living in a house that is too small is having to wait for a bathroom! Even a bath-and-a-half may not be enough.  It may be time to find a house with two or more full bathrooms. 
     

  • If you are one of the millions that are working from home now more than ever, your home office has probably taken over previously public space in the house. A house with square footage for a home office will allow everyone to get back in their own room!  
     

  • In today’s world, it may be necessary for the grown and flown children to come back to the nest. Have you changed their bedroom into a craft room or knocked the wall out to enlarge another space? Other than putting the wall back up, find a new home with room for everyone. 
     

  • On the other side of the coin, do your parents need to move in? That will mean giving up your own space so they can have some independence and privacy.  Purchasing a larger home with an in-law suite would be a better solution. 

 

Remember: getting more room for you and your family may not necessarily mean having to spending more money.  Something as simple as changing neighborhoods or even surrounding cities can give more bang for your buck. Comb through your budget and schedule a time to talk to your Realtor® about looking for a larger but affordable new home!  

 

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

 

Photo credit: Irish Mirror

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Tucker Robbins
Berkshire Hathaway HomeServices
3838 Kennett Pike
Wilmington DE 19807
(302) 777-7744 (direct)
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