If you have been watching the market lately, this will come as no surprise - home prices are rising.  It appears that the media ginning up a catastrophic crash in the housing market was a bit overblown.  If you are looking to see what the approximate value of your home is click GET YOUR HOME VALUE. If you need a more in depth analysis, call me and I will be happy to help you understand where your value stands.          Christopher Pataki Realtor RE/MAX Associates - Hockessin Get Your FREE New Castle County Home Value Now! Phone: 302-562-0628 Email: patakiremax@gmail.com License: RS-0019092, Delaware have a great day..........chris   IMPORTANT. the content of this email and any attachments are confidential. They are intended for the named recipient(s) only. if you have received this emai... 08/11/2023

Do you still think it makes sense to sell your home now? Yes, to answer briefly. especially when you take into account how few houses are currently on the market. Although you may be aware that inventory is low at the moment, you might not fully comprehend how low it is or why that will be a benefit when it comes time to sell your home. Putting that into perspective is made easier by the following graph from Calculated Risk:   The graph demonstrates that although the amount of housing inventory increased slightly week over week (blue bar), the overall supply is still low (red bars). Supply is down about 10% from the same week last year, when it was already regarded as low. However, if you go back even further, you'll see that inventory has decreased even more sharply.Let's make a compar... 08/09/2023

Two major factors prevent many homeowners from selling their homes. The higher mortgage rates of today make people feel trapped and worry that they won't be able to find anything to buy because supply is so scarce. Let's examine each difficulty and offer you some sound guidance on how to get past these barriers.The first difficulty is the reluctance to accept a higher mortgage rate.The average interest rate for current homeowners who have mortgages is less than 4%, according to the Federal Housing Finance Agency (FHFA) (see graph below):  The 30-year fixed mortgage rate that buyers typically receive today, however, is closer to 7%. In order to avoid moving to a home with a higher borrowing cost, many homeowners are choosing to stay put. This circumstance is referred to as the "mortgage ... 08/02/2023

Should I still purchase a home this year given the higher mortgage rates, inflationary pressures, and worries about a potential recession? Although there are particular difficulties for homebuyers this year, it's crucial to consider the advantages of homeownership in the long run when making your choice. Think about it: it's probably difficult to find someone who regrets buying a home if you know people who did so five, ten, or even thirty years ago. How come? The cause is connected to how property values increase over time and, consequently, how your own wealth increases. This could be the reason why, according to a recent Fannie Mae survey, 70% of participants think purchasing a home is a secure investment.  Here is an example of how just the home price appreciation component can add ... 07/19/2023

You may be considering selling your house due to a change in your life. While mortgage rates are important, remember the reason you want to make a change.Affordability has been impacted by the fact that mortgage rates have increased from the recent record lows. Because of the current rates, some homeowners have decided to put off selling their homes because they don't want to relocate and end up with a higher mortgage rate on their new residence.   If a homeowner has a 30-year fixed rate in the 2-3% range, they may not want to give that up for a rate in the 6-7% range..”However, your way of life and evolving needs ought to be more important. Here are a few of the most popular motives for selling in today's market. Any of these things might be more crucial than maintaining your current m... 07/12/2023

Right now, there's a big problem in the housing market. There aren't enough homes for sale compared to the number of people who want to buy them. This means that there's a limited supply of houses available.  A recent report from Realtor.com shows just how limited the housing inventory is. In June, the number of active listings was 50% lower than the levels seen before the pandemic in 2017-2019.Take a look at the graph below. It shows historical data and compares it to the inventory levels of a more normal market. You'll see that the numbers are still far below what they should be.  It's important to note that the years 2020-2022 are not included in the graph. These years were abnormal for the housing market due to the pandemic. To make a fair comparison, they have been left out.When yo... 07/06/2023

 Buying a home in Delaware can be a big decision, especially in today's expensive housing market. It's important to be smart about it. The interest rates on your mortgage loan can affect how much money you have to pay back. To save money, some people are rethinking what features they really need in a home.     Creating Your Wish ListIf you're looking to buy a home, take some time to figure out what you really need. Make a list of all the features you want, and then organize them into different categories. Here's a helpful way to do it:   Must-HavesThese are the features that are absolutely necessary for your lifestyle. If a house doesn't have these, it won't work for you. Examples could be the distance from work or loved ones, the number of bedrooms and bathrooms you need, etc. Nice-To-... 07/05/2023

Why Selling Your House with a Real Estate Agent is a Smart Move Selling your house is like solving a big puzzle. Some people try to sell their homes on their own, but it's not as easy as it sounds! Without a real estate agent, you might face all sorts of problems. So, if you're thinking about selling your house by yourself, here's some important stuff you need to know.The Challenges of Selling on Your OwnThe most recent Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed homeowners who had recently sold their own homes. They found that these sellers faced difficulties in prepping their home for sale, pricing it right, and managing the required paperwork, among other challenges.The Benefits of a Real Estate AgentWhen it comes to selling your most v... 06/28/2023

Welcome to the Summer Buying Season (and National Home Ownership Month)Hey there! It's summertime, and that means more people are selling their houses. This is great news for you because it means there are more houses to choose from! But it also means there are more people looking to buy, so you need to be a powerful buyer to get the house you want.  Get Pre-Approved and Know Your BudgetBefore you start looking for a house, you need to know how much money you can spend. Talk to a local lender to get pre-approved for a loan. This will show sellers that you are serious about buying and that you can afford the house. Plus, it will help you figure out how much you can spend each month on your mortgage. Find the Right AgentA real estate agent can help you find the perfect house and negotiate... 06/20/2023

As you near the end of the home buying process, it is essential to conduct a final walk-through of your soon-to-be new home. This critical step ensures that the property is in the condition you agreed upon with the seller. During the walk-through, you will inspect the property for any damages or issues that may have arisen since your last visit. Taking your time during this process and thoroughly examining every aspect of the property is crucial. Doing so can help you avoid any surprises or unexpected expenses after closing.  To prepare for the final walk-through, it is recommended that you schedule it at least a day before the closing date. This will give you ample time to address any issues that may arise during the inspection. Additionally, it is advisable to bring a checklist of ite... 06/14/2023

If you are contemplating the sale of your house, it is important to be aware of the current market conditions. With the limited number of homes available for sale there is a significant advantage to Delaware sellers. This is due to the fact that there are more potential buyers than there are homes on the market. Consequently, with a scarcity of options, buyers will be more inclined to consider your property, increasing the likelihood of attracting a larger pool of  home buyers.  Industry experts have shared their insights on the advantages of selling now. Let's take a closer look at their perspectives.Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of pr... 06/07/2023

If you are keeping up with current events, you may be feeling uncertain about the state of home prices and whether or not we are headed towards a housing crisis. Unfortunately, many news headlines are painting a bleak and inaccurate picture. The truth is, home prices are not plummeting uncontrollably. In fact, the most recent data reveals a much more optimistic outlook. Delaware prices are slightly up month over month.  When reviewing home prices from a year-over-year perspective, we notice that they remained positive, albeit with a slower rate of appreciation compared to the peak of the pandemic. However, to gain a more comprehensive understanding of the market trends, it is necessary to analyze monthly data. By doing so, we can obtain a more detailed picture of the fluctuations in the... 05/31/2023

Memorial Day 2023 = In Remembrance =Raymond William PiersonCO. K 168th INF 34th Div1922-1944Veterans Memorial Park - New Castle DE 19720David HenkeLong & Foster Real Estate, IncDevon PA / Wilmington DEOffice:610-225-7400 / Direct:610-618-0808www.DelawarePAHomes.com 05/29/2023

Despite the recent moderation in home prices, most Delaware homeowners still possess a substantial amount of equity. However, what exactly is equity? In its most basic form, equity refers to the difference between the market value of your Delaware home and the outstanding balance(s) on your mortgage(s). The National Association of Realtors (NAR) provides a comprehensive explanation of how equity increases over time.“Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”CLICK BELOW TO FIND OUT YOUR HOME'S VALUE How Your Number One Asset Can Help You With Your Financial GoalsAs a Delaware homeowner, you have the opportunity to build equity over time. This equity can be a valuable asset when it comes time to sell your curren... 05/23/2023

Despite Fees Dropping for Buyers with Lower Credit ScoresWhether you’ve been planning on buying a house in Delaware in the near future or not, you’ve probably heard that people with higher credit scores are now paying higher fees, and people with lower credit scores are paying lower fees when getting a mortgage.Hearing that might make you feel one of two ways if you’re planning on buying a Delaware house: Yippee! I’m finally getting a fair chance. It’s not fair that people who don’t need lower rates and fees always get the better end of the stick, and now I have a chance at buying a home. Not fair! I’ve worked hard to improve and maintain a great credit score, and now I’m being penalized for it?! What was the point of caring? Does it even pay off to be careful with my finances?   Regard... 05/18/2023

Exciting news for all you potential home sellers out there! The current housing market is experiencing a low number of homes for sale. Why, you ask? Well, it's because this season, there are fewer sellers listing their houses for sale than usual. So, if you're considering selling your house, now is the perfect time to take advantage of this unique opportunity. Don't miss out on the chance to sell your home in less time with a higher price potential. Get ready to say goodbye to your old home and hello to a new adventure!CLICK BELOW to find out for yourself So, if we take a trip down memory lane and look at every April since 2017, we can see that the only year with fewer home sellers was April 2020. That's when the pandemic hit and put a damper on the housing market (as you can see in the... 05/17/2023

Wow, have you noticed how the real estate market has transformed over the past few years? It's a whole new ball game out there! As a result, if you're looking to buy a home, it's essential to adapt your approach to match the current market conditions. Don't miss out on the opportunity to make the most of this exciting time in the real estate industry!And that change in approach to buying your Delaware home might include breaking some rules…A recent article from realtor.com outlined some of the common mortgage “rules” that buyers may want to consider breaking in today’s market, including:   A 30-year fixed-rate mortgage is the only way to go.  Now with the interest rates for fixed-rate loans hovering in the mid 6% range, if you're seeking a mortgage with a lower interest rate, you may wa... 05/10/2023

Is My Gym Membership Card OK As My ID For Notarization?The other day I came across this exact situation with a women whom I visited for a notary appointment. The individual handed me her Gym Club Membership ID. A notary may refuse to notarize if the signer does not present a valid, government issued photo ID to the notary who is present there to notarize.The individual I met had only her GYM ID even though it has her photo and signature on it.A notary shall not perform a notarization in this case. A notary can demand the presentation of signer's competent evidence of identity such as current ID that issued by a government agency bearing photograph and signature of the ID owner.When a notary public asks the signer to show their identification doc to verify their identity, but if the sign... 05/10/2023

When you’re selling your home, the steps you take to get your property ready for buyers can mean the difference between a quick and profitable sale and your home sitting on the market for months. And often, the best steps you can take to sell your home are the steps that other sellers overlook.  According to a recent article from Realtor.com, there are a few often-overlooked steps you can take to help sell your home faster and for a higher profit, including:  Make the right use of your rooms. You might be using rooms in your house for a variety of things (like a bedroom as a playroom or a den as a storage area), but staging each room to reflect its original purpose can help buyers see the full potential of your home.  Reglaze the bathroom. If you have a dated bathroom with oddly colored... 05/02/2023

If your or your clients' documents, (such as power of attorneys) are to be used in a foreign country, they need to be apostilled in the state where the docs were originated (notarized), before the documents are sent from the U.S. to abroad. If your clients' documents are written in a foreign language and they going to be used overseas, they need to be first translated to English by a certified professional translator who is not any way connected or biased to the document or the document owner. The authorized transalator will sign an accuracy certification. This certification is called 'Certificate of Translation Accuracy'. These  also need to be notarized by a commissioned notary public before you can request them to be lapostilled.As stated above, this multilevel steps have to be compl... 04/28/2023