Real Estate Information

The garage - it's that space where you used to just store your car, lawn mower, power tools, bikes, bats and boxes of things you wore in the 90s. But to say a garage is only for storage is like saying a truck is only for hauling dressers and box springs.

From game room to workshop, man cave to hangout - your garage has the potential to be anything you want it to be. So if you're thinking of redecorating or remodeling your house, don't spend all your time picking out kitchen tile and arguing over what type of counter looks best - step into your garage and let yourself dream big.

With the right materials, some creativity and a little work, you can turn your garage into the star of the house. How? TV personality and award-winning interior designer Anitra Mecadon offers the following five ideas to get you excited about all the possibilities.

Toughen Up Your Walls

No matter what you want to do with your garage, first make sure your walls can stand up to real life. There's probably no space in the house more susceptible to scratches, scuffs and accidental holes than the garage - so pick your walls accordingly. Look for PURPLE Hi-Impact XP made by National Gypsum for extra wear and tear to resist everything from car doors opened too close to the wall to the hockey sticks swung a little too hard. This drywall is embedded with fiberglass mesh to make it impact and penetration resistant - and like all PURPLE drywall, it resists moisture, mold and mildew.

Make Your Garage Your Hideaway

Sometimes you need to get away from it all - especially from your "honey do" or project list - and the garage can be where you go, your hangout, an extension of yourself and a definite point of pride. Add a snack machine, fridge, swivel chair or two and big screen TV, and you and your friends will have it made. 

Lift It Up

Most people have a lot of stuff to store in the garage in addition to cars, tools and bikes. And let's face it, the more available space you have, the more likely you'll find stuff to fill it. That means you'll need to get creative with storage. In addition to shelves and cabinets attached to the walls, another way to store your stuff is to use a raised lift system which retracts up into the top levels of your garage and comes down with a push of a button when you need something.

Hang It Up

There are some things that just don't belong in your house but are perfect for the garage. Just like restaurants that have walls crowded with collectibles such as old soda signs, sea anchors and license plates - garages can follow this same design concept and personalize a space even more. Walls also can serve as anchors for storage systems that hold your tools, bikes, boxes and equipment. And you can rest assured that high-performing drywall, like PURPLE Hi-Impact XP, will stand up to the wear and tear of hanging up and taking down your tools, rakes, bikes and more, day after day.

Do More With Your Floor

Today, garage floors can be anything you want - yellow, red, metallic, acid-washed or made out of heavy-duty vinyl or rubber. And whether you want the grey concrete vintage look of your childhood or something that reflects your more grown-up self, when it comes to garage floors, take a chance and get inventive, because your garage can be your personal and customized sanctuary.

There's a lot you can do with a modern garage, and no matter how you decide to personalize it, the best garage remodel starts at the studs. The right drywall is as important as the right wrench in the toolbox. (BPT)

Millennials are frequently criticized for needing instant gratification, but recent reports point out that they actually have more patience than previous generations. Both the U.S. Census Bureau and Centers for Disease Control and Prevention (CDC) say millennials are delaying getting married and starting a family by almost a decade.

And it's not just life decisions millennials are postponing; this behavior is also prevalent in their financial decisions. According to a recent survey from Bankrate.com, millennials are putting off important financial moves due to high levels of student debt.

"Knocking out debt should be a priority when you are young, but it's also important to balance that with other key financial priorities," says JJ Montanaro, a financial planner with USAA. "Time is your number one ally when planning for the future and delaying now may cost you more in the long run."

Montanaro highlights the three main financial priorities millennials shouldn't hit the pause button on:

Life Insurance

A recent survey found that one in three millennials acknowledge they need additional life insurance coverage. However, most aren't purchasing it because they think it's too expensive or because they have other financial priorities.

While millennials may not immediately reap the benefits of life insurance coverage, locking in the cost of life insurance premiums at a young age can pay off in the future. Montanaro explains that life insurance premiums will only increase with age and additional health complications.

With many life changes likely on the horizon, millennials should find a plan that offers term life event options that allow them to easily increase coverage following significant events such as getting married, having a child or buying a home.

Montanaro also points out that life insurance may not cost as much as buyers anticipate. More than eight in 10 people overestimate the cost of a policy. He says a life insurance calculator is a great place to start to understand coverage needs and estimate costs.

Health Insurance

Regardless of overall health or age, it's important to have health insurance and understand what it covers to avoid additional penalties and plan for the unexpected.

Under the Affordable Care Act, not having a qualified health insurance plan can result in a penalty at tax time. Montanaro points out that this penalty has risen to 2.5 percent of household adjusted gross income in 2016, or a flat rate which is expected to rise in the coming years.

For millennials who may not currently have large medical bills or health issues, Montanaro recommends they look at a high-deductible plan with a health savings account (HSA). An HSA allows account holders to set aside pre-tax money for health expenses and free-up some emergency cash when they do eventually need it.

Retirement Investing

Only one-third of individuals aged 18 to 35 say they invest in the market, according to a recent Bankrate.com survey. Montanaro says sitting on the sidelines with retirement savings may result in millennials missing out on the power of compounding returns and may even extend their retirement timeline.

But retirement investing doesn't have to be intimidating. Montanaro recommends starting small with a low-cost mutual fund, such as a target date fund, that allows a low entry point, requires little maintenance and invests in a portfolio that automatically adjusts as retirement gets closer.

The most important step is to get a foot in the door. While USAA recommends investing 10 percent of your income toward retirement, even earmarking 1 percent for the future provides a foundation upon which to build.

This material is for informational purposes. Consider your own financial circumstances carefully before making a decision and consult with your tax, legal or estate planning professional. (BPT)

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

NEW CASTLE MARKET WATCH FOR AUGUST 2016

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.

There are many reasons why you might have to leave a home that you have lived in for several years.  You may have had to leave do to not being able to pay the mortgage because it was too high for you or you may have outgrown your home as your family has become larger over the years.  Still another reason you may have to say goodbye to your home is due to a job change that takes you from your home and places you into another area or even another state.  Below are a few ways in which you can say farewell to the place you have come to know and love as your home. 

1. One way that you can say goodbye to your home that may help everyone feel a bit better about a move is to go around the house room by room and have each family member say aloud why that particular room was important to them and what if anything it meant to them personally. 
2. Another way you can say goodbye to a home  or rather feel like you are still connected to it years after moving out is by planting a few trees around the house.  If you and your family are blessed enough to be able to come back and visit the home after some time you can watch as the trees begin to grow and see how they change year after year and perhaps still feel a connection to the house.
3. Yet another clever way to bid farewell to your home is to have someone paint a picture of your home before you leave it.  You can then carry that home with you to your next home and place the picture in a prominent place for all to see.  This is a great way to keep the memory of a beloved home alive for years to come. 
4. Making a movie of yourself and your family inside of your home before you leave it to travel to your new home is another great way to remember the good times you had there.  If you ever feel like you are missing your “old” home place you can always get the video out and feel connected to it once again.

Homes are not just walls and plaster, they are where we raise our families, where we love and are loved.  Leaving a home is never easy but hopefully these ideas about how to bid farewell to your home  will make it a bit easier for you.  

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

Decisions made by the next President and Congress could change the way Americans buy and sell homes for generations to come. Rising prices are making it more difficult for working families and young adults to become homeowners. Government control over the vast majority of mortgages through Freddie Mac and Fannie Mae unnecessarily exposes taxpayers to risk and continue to stifle the innovation of new lending products that responsible borrowers need and want.

More business as usual?

Depending on who is elected this year’s presidential election could either deliver a mandate for Washington to act on far-reaching reforms integral to our system of housing finance or bring more business as usual.

Here are the priorities Americans want the next President and Congress to address, according to a new research conducted for loanDepot, the nation’s second largest nonbank consumer lender: 

* Make homeownership more affordable for middle- and lower-income families (37 percent).

* Keep interest rates low, especially during the first 100 days of the new presidency (34 percent).

* Make more credit available to small businesses (11 percent).

Few see the election improving their pocketbooks

Most Americans expect their personal financial situation to either stay the same or get worse when new leaders take over the White House and Congress. Only 6 percent think that they will be better off as a result of the election.

Each vote counts

One out of every five Americans said the candidates’ housing and finance policies will influence their vote. Another 40 percent have not yet made up their minds. That is because only 9 percent think the candidates have done a good job articulating their positions on the economic issues that affect peoples’ daily lives.

Perception doesn’t match reality

Some 77 percent think it is just as hard or even harder to get a loan today than during the Great Recession eight years ago. Young adults may be more discouraged than most; they worry about not making enough money and nearly half (46 percent) fear the election outcome will make it even harder to get a loan.

In fact, while guidelines have tightened since 2008, applications for purchase mortgages were more likely to be denied in 2008 than in 2014, the most recent year for which Federal Reserve data is available. Denial rates for home purchase loan applications hit 18 percent in 2008, while denials in 2014 topped out at 13 percent. Denial rates for home refinance applications in 2008 were 38 percent and dropped to 31 percent in 2014.

Find out if you qualify for a home loan

Getting into the home of your dreams may be easier than you think. All you have to do is get pre-qualified by the local lender of your choice. Don’t know a lender? Contact us and we’ll be glad to recommend someone.

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

Think you know what a real estate agent does on a daily basis?  You might have to think again in order to correctly identify all the responsibilities on the shoulders of your REALTOR (a real estate agent who is a member of the National Board of Realtors).   You most likely would be surprised—and impressed—to discover the wide range and long list of activities undertaken by your REALTOR in your pursuit of buying/selling a home.

A basic job description would include renting, and buying, and selling (oh, my!) real estate for clients, interviewing potential clients, previewing and showing  property, discussing sales conditions, drawing up and presenting offers, holding open houses, and writing contracts—all the while meeting deadlines and hand-holding when necessary.  Oh, but there is so much more for your REALTOR to do, including, but certainly not limited to, the following duties:

• Staying current with market trends in your area
• Analyzing comparables
• Exploring and evaluating mortgage options
• Finding buyers or properties for clients
• Scheduling appraisals
• Keeping up with changing federal/state laws and program
• Negotiating between parties
• Preparing MLS listings
• Promoting properties via ads, web sites, videos, and virtual tours
• Completing required courses, attending seminars, and the like
• Coordinating inspections, walk-throughs, and closings
• Arranging for title searches

But did you know that the National Association of Realtors awards grants to groups of state and local real estate associates who attempt to go above and beyond in promoting and expanding housing opportunities in their communities?  These REALTORS work together to design and implement affordable housing programs and are thus eligible for the NAR grants twice a year.  In addition, the NAR offers programs, training, and resources for these groups.  Click here for details of the Housing Opportunity Program.

Remember, real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally pre-screen and accompany qualified prospects through your property.

Contact us!  We’re qualified, experienced, and looking forward to assisting you.

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

New Castle County DE listings decreased 12.7% in July 2016 with 112 less homes. The average sales price climbed 4.62% to $260,980, while market times remained the same.

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

If you were lucky enough to move into a new home recently then you need to know a few things that you should strive to accomplish soon after the move.    These things will get you set in the right direction for being comfortable in your new home for years to come.  A few of these ideas are listed below. 

• Be sure to take pictures of each room in your new home just before moving in. Sometimes the inspection takes place and then the previous owners come back to get a few last items of theirs moved out.  You never know, especially if the previous owners were forced to move due to a short sale, what they may have done to the house.  Take pictures before you move your furniture inside.  This way if any damage has occurred you will have full documentation of it and may be able to get things fixed more easily.
• If you hire a moving company to move your belongings from one house to the other you will want to check all of your belongings to make sure there was no damage done to anything during the move.  You should have liability coverage in your moving contract and if that is the case if any damage occurs and you document the damage you should be able to get reimbursed for that. 
• One of the most important things to accomplish as soon as you move into a new home is to change the locks.  You have no way of knowing how many folks have a key to your home from the previous owners and you surely don’t want to worry about someone being able to get inside of your home without your knowledge.  Get this task done right away. 
• If you want to make the home have a nice new feel, painting is a great way to do that.  Painting an empty house is much easier than having to move the furniture around later. 
• If you are a registered voter and you have recently moved into a new home that is in a different county, you will want to change your voter registration right away.  It’s not a good feeling to be turned away at the polls because your address is incorrect. 

These are just a few ideas of things you should strive to accomplish soon after moving into a new home. Hopefully they will be of some help to you and yours.

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