Bethany Beach
Real Estate News and Questions
|
|
|
On October 1, 2009, important changes to the National Flood Insurance Program (NFIP) will take effect. There will be an increase in rates, the standard deductibles will increase, and the basic insurance limits will increase. However, the total coverage available will stay at a $250,000 maximum. These combined changes will result
(1 comments)
|
|
|
|
The "end of summer" at the beach is actually the beginning of some great weather conditions at the shore. September and October are generally very mild and sometimes we even get some nice beach days. The real estate market has picked up considerably over the past 4-6 months and sales are
(1 comments)
|
|
|
|
In the summer of 2002, Peter "Wolf" Toff drove into the seaside resort of Bethany Beach in his Winnebago. He arrived at the City Hall wearing cut-off jeans, a beer t-shirt and a deep golden tan, remembers Bethany City Council Woman Margaret Young.
Young did not envision the Hungarian-born Toth,
(0 comments)
|
|
|
|
If you own rental property in Bethany Beach, get ready for a new town mandated safety checklist to protect your tenant's (even weekly summer visitor's) safety.
Bethany Beach Town Council members voted 5-1 at their Jan. 16 meeting to adopt the new safety checklist, which will be sent out to property
(0 comments)
|
|
|
|
We get the question every day. How much will this home go up in value? Well, maybe not so much these days, but here's something to think about. What if your house never went up in value - should you still buy? Click below and get my answer. Hint: Emotion can
(6 comments)
|
|
|
|
I said in my blog - A View from the Beach - over the weekend that the Fed might cut 3/4% and they did. I also said that mortgage rates probably would not go down if the Fed did cut by that much. Guess what - I was way wrong! CPI
(3 comments)
|
|
|
|
The Bethany Beach Holiday Happening is this Saturday, December 6 from 3 - 6 PM. Entertainment for the whole family! Musical entertainment begins at 3:00 PM with The Lord Baltimore Holiday Ensemble singing holiday favorites. Peaches, the clown will create her unique balloon art for all the young visitors while Miss
(0 comments)
|
|
|
|
Short answer - "no!" Market bottoms are always seen in the rear view mirror, whether it's the bottom for home prices or rates for refinancing. Check out why below.
Click Here For Can I Really Catch the Bottom of the Market?
Mortgage rates have dropped about 1/2% over the past week.
(0 comments)
|
|
|
|
Strongly influenced by vacation home and investment property purchases, the localBethany Beach market remains realtively strong. A localRealtor - Leslie Kopp - recapped the summer end on her website:
As the summer season ends, our real estate market is sending mixed messages. We usually use single-family homes as the surrogate for
(0 comments)
|
|
|
|
Well, the news came today - Sunday, September 7th - that the Treasury is putting Fannie and Freddie into conservatorship under authority granted by the housing relief bill passed by Congress in July. Senior management is leaving, all lobbying will be stopped, and dividends on the stock suspended. Here's the link
(0 comments)
|
|
|
|
According to data from the Sussex County MLS, there were 229 residential sales in July, 2008, compared to 321 in July 2007 - a 29% drop year over year. These sales consisted of 145 single family homes, 59 condos/townhomes and 25 mobile homes
Year to date, there have been 941 single
(1 comments)
|
|
|
|
At the beach, many property owners have used the 1031 exchange procedures outlined inour tax laws to delay or "push-off" taxable gains on the sale of investment properties and, many times, vacation homes. Part of the strategy is to continue to rent the property for a while and then move into
(0 comments)
|
|
|
|
The headlines grabbed you. "Foreclosure activity in Marchincreases 5% over February and 57% over March of 2007!"
The reality? Most of the foreclosure activity is taking place in Nevada, California, and Florida. These are the states that had the fastest increase in home prices and the highest use of both Subprime loans
(1 comments)
|
|
|
|
March 21, 2008
Legislation has been introduced (HB 293) that will raise the realty transfer tax by .28% to fund the Community College Infrastructure Fund for capital construction at all four (4) Delaware Technical and Community College campuses.
In addition, Governor Minner and the Department of Finance, Office of Management and Budget
(0 comments)
|
|
|
|
FOR IMMEDIATE RELEASE(From Bethany-Fenwick Chamber of Commerce)
CONTACT: KAREN McGRATH
302-539-2100 x14
March 12, 2008
FISHING TOURNAMENT MAKES A MOVE
March 12, 2008
FENWICK ISLAND, DE-The Bethany-Fenwick Area Chamber of Commerce is very pleased to announce that Old Inlet Bait & Tackle shop will now be managing and presenting the long-standing spring fishing tournament.
A
(0 comments)
|
|
|
|
February 24, 2008
After declining steadily since the last week in December, mortgage rates have reversed course over the past 3 weeks. Freddie Mac announced the average rate for conforming ($417,000 and under) 30 year fixed rate mortgages was 6.04% with 0.6 discount points for the week ended February 21st.
Rates have
(0 comments)
|
|
|
|
February 21, 2008
I love when you see or hear the media proclaim "the average mortgage rate" is [pick a number]. Why? Because they seldom, if ever, explain where the average comes from and how many discount and/or origination points it includes. There's also the little issue of timing.
"Average rates" come
(0 comments)
|
|
|
|
February 18, 2008
Valentine's Day just passed and I fell in love with ARMs again after a 5-6 month hiatus.I used love the appeal of the ARM but she was replaced by the fixed rate mortgage which had all the appeal of my mother-in-law. Stable, boring, but not very sexy. All this
(2 comments)
|
|
|
|
February 17, 2008
In late 2006 Congress passed a law allowing a rather strange one-year deduction of premiums for private mortgage insurance (PMI). This was a scrap thrown to PMI insurers who had been complaining that their businesses were suffering from the number of homeowners opting for piggyback mortgages. These simultaneous second
(0 comments)
|
|
|
|
February 16
We all know the stock market has been volatile in the past few months, and now we are seeing an uptick in mortgage rates driven primarily by activity in the market for what are called Mortgage Backed Securities (MBS). These are also commonly called mortgage bonds. As with all bonds,
(0 comments)
|
|
|
|
February 15, 2008
Well, the President signed the Economic Stimulus Bill HR 5140 on Wednesday. From our perspective, the increase in the conforming loan limits and FHA loan limits are the most important components of the bill. Unfortunately, the reality of the new bill presents a mixed bag. Congress did not
(0 comments)
|
|
|
|
I wish I knew!! The Fed cut short term rates another 1/2% today and the stock market rallied, then pulled back - the Dow down about 34 points. Mortgage Backed Securities (MBS) traded down slightly in the hours after the Fed cut - down about .125 discount points. What are investors
(1 comments)
|
|
|
|
Let's look at the local take on current news about mortgage financing. . .
News from the Mortgage Bankers Association:
"The White House surprised many on Monday by suddenly withdrawing its support for the inclusion of FHA reforms in President Bush's proposed economic stimulus package. Bush had previously made several personal pleas to
(2 comments)
|
|
|
|
I can't believe I live at the beach! Yesterday, I wanted to pinch myself to see if I really was watching the surf and my husband fish. He had such a smile on his face as he brought in fish after fish. The fisherman to his left was doing better than
(4 comments)
|
|
