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5 Zanes Way Arnell Creek Rehoboth Beach, DE 19971

Posted by on May 8, 2017 in Buying, Property For Sale | 0 comments

COMING SOON! Wonderful home at 5 Zanes Way Arnell Creek Rehoboth Beach, DE 19971  is a short ride to Rehoboth Beach’s fun and sun!  The development is located on Old Landing Road.  This  4 BR, 2 1/2 BA home sets on over 3/4 of an acre of land with a 2 +  car garage, covered front porch, sun room, spacious deck, fireplace, hardwood floors, and many other amenities. LIST PRICE: $349,000 BEDROOMS: 4 BATHROOMS: 2 1/2 SQ. FT. – approximately 2, 000 sq.ft 5 Zanes Way Arnell Creek Rehoboth Beach, DE 19971  ...

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Increase Your Home’s Value Up to 28% with These 5 Tips

Posted by on Apr 17, 2017 in Uncategorized | 0 comments

Great curb appeal not only makes your home the star of the neighborhood, it can also improve its value and help you sell it for more. Whether you’re thinking of listing your home or just want to make your home the envy of your neighbors, here are five tips to help increase your home’s value up to 28%. 1. Make your home’s exterior look like new For many potential buyers, the condition of the exterior of a home can offer clues to the condition of the interior. The first place to start when boosting curb appeal is the exterior of your house. Paint. Paint is the best way to make your home appear newer. While you can paint your home yourself, if it’s large or more than one story, consider hiring a professional. Painting is a fairly inexpensive improvement with between 60 to 100 percent return on investment.1 Maintain your siding. Over time, weather and the elements can make your home’s siding appear dull and dirty. Use a pressure washer to clean stains, spider webs and accumulated dirt and grime, or use a soft cloth and a household cleaner to get into those small nooks and spaces. Although the average life expectancy of siding ranges from 60 to 100 years, depending on the material, extreme weather may reduce this number. If you need to replace the siding, you’ll enjoy a 77 percent return on investment.1 Paint or replace garage doors. If your garage doors are in good condition, give them a new coat of paint. If they’re beginning to show their age, consider replacing them. Not only are new garage doors more energy efficient and better insulated than older models, they also have a 91.5 percent return on investment.1 Maintain your fence. Replace rotted or worn posts and panels and freshen it up with a coat of paint. If you have a hedge that serves as your property’s border, keep it trimmed and in good shape. 2. Pay attention to the small details The small details tie your home’s exterior together and help it stand out from others in the neighborhood. Update your house numbers. Make sure potential buyers and guests can find your home. If the numbers have faded or need an update, replace them. If choosing a metallic finish, make sure it matches the finish of your exterior light fixtures. Install new door fixtures and be sure they match in style and finish and complement the style of your home. Paint front door, trim and shutters. This inexpensive improvement adds brightness to a home, whether you choose a bold color, a neutral tone or classic white. 3. Tend to your driveway and lawn Well-landscaped homes may sell for between 5.5% and 12.7% more than other similar homes and studies show it may also add up to 28 percent to your home’s overall value.5 Place a border along your driveway or walkway made of brick, stone, pavers or another hardscape element to add visual interest to a plain driveway. Maintain your green space. If you have grass, a well-maintained, green lawn makes your home look inviting and picturesque. However, in many parts of the country, water conservation is becoming more important. Xeriscaped landscapes incorporate drought-tolerant vegetation that thrives in warm, dry climates, such as lavender, sage, wisteria and...

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2016 Year in Review Statistics

Posted by on Jan 12, 2017 in InfoGraphic, Infographics | 0 comments

The year in review numbers are in for 2016 Ocean Atlantic Sotheby’s International Realty and they are outstanding! From 5 of the top 20 Sussex County REALTORS as part of the brokerage to the $269,044,457 total dollar value of properties that were listed or sold in 2016.  These are just a drop in the Ocean Atlantic Sotheby’s International Realty numbers. The graphic below tells the entire 2016 story. Check out the current Beachteam listings to start the 2017 statistics...

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Real Estate 2017: What to Expect

Posted by on Jan 5, 2017 in Market, market update | 0 comments

One of the most common questions we get at this time of year is, “What’s going on in the market?” It’s not just potential buyers and sellers who are curious; homeowners always want reassurance their home’s value is going up. The good news is the American real estate market is strong and healthy: home values are up, prices and sales are strong, and millennial first-time buyers are eager to become homeowners. We often use national real estate numbers to give us a clearer view of our local market. However, real estate is local, and while statistics and predictions help us understand the overall real estate market, our local market may be different. If you’re thinking of buying or selling, or just want to know how much your home is worth, give us a call! What to Expect in the Real Estate Market in 2017 The American housing market is stronger than ever! Home values, prices and sales had their strongest numbers in 2016, a sure sign the market is healthy and strong. According to the Home Price Index from the Federal Housing Finance Agency (FHFA), property values have increased in 58 of the last 62 months and have increased more than 35 percent nationally. Homeowners continue to build equity in their largest investment—their homes. First-time buyers are back Housing forecasts from the National Association of REALTORS (NAR), the Mortgage Bankers’ Association, Freddie Mac and Fannie Mae all predict existing-home sales will surpass 6 million in 2017, higher than anticipated sales for 2016. Who’s driving the surge? According to NAR, millennials who have put off buying a home are ready to buy. While they may have avoided buying a home due to student debt and limited employment, many are entering their 30s, a time when their attention turns to marriage, family and setting roots with home ownership. They’re predicted to be the driving force behind home and condominium sales from now until into 2020. (Source: MarketWatch) What does this mean to you? If you’re a millennial who’s been on the fence about buying, now is the time to act. Give us a call to answer your questions about the market and the buying process. Renters are embracing home ownership Additionally, many renters who’ve resisted buying are starting home searches due to the economic weight of rising rents. This year’s home buyers seek to take advantage of comparatively low interest rates and, in most cases, static payments each month—an advantage of home ownership. Rental costs will only continue to rise; if you’re thinking of buying, now is an ideal time to do so. What does this mean to you? Every month you pay rent, you lose the opportunity to build equity in a home of your own. Break free from the limits of renting and invest in your financial future. Come in the office and we’ll discuss your options. Home prices are on the rise According to NAR, the median existing-home price not only increased 6.0 percent year-over-year in October, it’s also the 56th consecutive month of year-over-year increases. Prices are approaching the pre-recession peak. What does this mean to you? Home prices, and subsequently home values, are increasing. If you’ve been waiting to list your home until you know you can sell it for what you think it’s worth, now...

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25th Annual Chocolate Festival and More in March 2015

Posted by on Mar 4, 2015 in The Rehoboth Beach Area | 0 comments

25th Annual Chocolate Festival and More in March 2015

25th Annual Chocolate Festival Saturday, March 7th — To commemorate its silver anniversary, the annual Rehoboth Beach Chocolate Festival will unveil an entirely new event this year! For the first time, attendees will enjoy chocolate treats by leading area professional chefs only. The 25th Annual Chocolate Festival will be held at The Rehoboth Beach Convention Center.  General Admission Tickets are available from 1:30-4:30 p.m. for $10, which includes 10 Chocolate Tastes. Children under 12 can purchase $5 Tickets which includes 5 Chocolate Tastes. To purchase tickets online visit www.downtownrb.com  or stop by Snyder’s Candy at 60 Rehoboth Avenue. Milton’s 8th Annual St. Patrick’s Day Parade Sunday, March 8th at 2PM — Downtown Historic Milton. All parade proceeds benefit: The Milton Fire Department training program, Best Buddies Delaware, Casa San Francisco. We hope to see you Sunday March 8th at 11am for the 3rd Annual Lucky Leprechaun 5K and at 2pm for the 8th Annual Milton St. Patrick’s Day Parade.Visit the parade’s website for more information. Metropolitan Opera Broadcast Saturday, March 14 — The Rehoboth Beach Film Society and the Cape Henlopen Educational Foundation are proud to present The Metropolitan Opera’s live broadcast of Offenbach’s “La Donna del Lago” at 12:55 pm at the Cape Henlopen High School Theater. Admission for The Met: Live in HD broadcasts is $25 for adults, $22 for Met members, $22 for RBFS members, $22 for Seniors (65+), $15 for Students (with ID), $15 for children (12 and under). Seating is on a first come, first-served basis (no reserved seats). Online reservations may be made with MasterCard or VISA until noon on Friday, March 13. Admission will be offered at the door with cash payment only. Approximate ending time is 4:30 pm. For more info about this series, other events, or to become a member, visit the Rehoboth Beach Film Society website, or call 645-9095. ‘Footloose’ Eighties Prom Party Saturday, March 14 — Presented by Cape Henlopen Educational Foundation, The Starboard, Dewey Beach. Doors open at 7:00pm. Join us for an evening filled with 80’s dance tunes, high hair, food and fun. Wear your Footloose inspired attire. Enjoy throwback cash bar prices. $35 ticket by clicking here or purchase in person at Cape High or Browseabout Books. Merchant’s Attic Saturday, March 21 — Plan to shop at the State’s Largest Indoor Garage Sale!  Join us at the Rehoboth Beach Convention Hall located at 229 Rehoboth Avenue in Rehoboth Beach.  Event will be held from 9:30AM – 1:30PM.  There is no admission fee; however donations for the benefit of the Chamber Event Fund are welcome. ‘Art and Craft’ Rehoboth Beach Film Society’s Monthly Screening Friday, March 27 and 7PM — This film is a fascinating glimpse into the life of art forger, Mark Landis. A small eccentric Mississippian, with a history of mental illness, Landis copied works by famous artists such as Dr. Seuss, Charles Schultz, and even Pablo Picasso, convincingly enough that he was able to donate them to museums all over the Southern United States. [2014, USA, Runtime: 89 min, Not Rated]. A post-film discussion will be led by Kim Klabe. Kim is the Education Director for the Rehoboth Art League. Admission: $4 for members and $6 for non-members. For more information, click...

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10 Most Expensive Homes in Lewes – March 2015

Posted by on Mar 2, 2015 in Market | 0 comments

10 Most Expensive Homes in Lewes – March 2015

Originally settled by the Dutch in 1631, Lewes continues to be one of the best places to live in Delaware. Over the years, Lewes is a place where home buyers can find exclusive luxury homes and expertly restored historical residences. For those select few home buyers whose pocket books match their taste, Lewes has plenty to offer. If you see a home on this page that you may wish to tour, The Rehoboth Beachteam of Ocean Atlantic will be happy to schedule an appointment for you. 31142 Kaplan’s Cove Listed at $2,300,000 Private Oasis on Red Mill Pond.  Perfect for extended family living&those with a passion for water sports.  Custom features abound from the 24 karat gold detail on the custom forged security entry gate to the Infinity Edge Pool with waterfall overlooking the man made beach.  Lower level with second kitchen, a bedroom, and bathroom.  Learn more about this home. 218 W Cape Shores Drive Listed at $2,295,000 BAYFRONT DREAMING Wake up to the Delaware Bay at your back door! 4BR, 4.5BA home delivers bay views from most rooms, a gourmet kitchen, great room, large screened porch, multiple decks and balconies, and VIEWS! Plant your feet in the sand, right out your door. Awesome Community Amenities!  Learn more about this home.   34822 Boathouse Lane Listed at $2,100,000 One of a kind waterfront estate on Rehoboth Bay. 5 bedroom contemporary home, pool, 7 boat slips, caretaker’s cottage on 9.98 acres. Surrounded by 198 acres of state land. Tranquil setting, known as Turner Point.  Learn more about this home. 16938 Black Marlin Circle Listed at $1,999,000 MAGNIFICENCE BY DESIGN Striking property completes your wish list with the finest appointments and attention to structural detail. Sophistication and style meet in this 8,000 sq ft, home in a flawless landscape close to the Atlantic Ocean, Delaware Bay, wooded trails, and Historic Lewes. Learn more about this home. 1108 Bay Avenue Listed at $1,950,000 MODERN LUXURY MEETS BAYFRONT CLASSIC Sprawling, panoramic views from multiple decks and screened porch. Bask in the sun or enjoy sleek interior living spaces, including 5BR, 5.5BA, and entertainer�s kitchen. Step out your door to quiet Lewes Beach, walk/bike to Downtown Historic Lewes! Learn more about this home.   115 Savannah Road Listed at $1,899,000 UNPARALLELED IN LEWES Award-winning architectural tour-de-force in Downtown Lewes! Artfully renovated Victorian is commercial/residential masterpiece. Live above it all with penthouse suite luxury to include 3 suites, stunning kitchen and living space, fabulous rear deck with true Victorian style. Learn more about this home.   640 Pilottown Road Listed at $1,849,000 SPECTACULAR WATERFRONT PROPERTY. This 5BR, 3 full BA, 2 1/2 BA home has so much to offer, including: multiple balconies, roof top deck, enclosed font porch, gourmet kitchen, luxury master suite, boathouse/storage shed, full basement, 3 car detached garage w/ apartment above, pool, dock & much more.  Learn more about this home. 550 Pilottown Road Listed at $1,599,000 AMAZING WATERFRONT HOME! Includes 10yr boat slip lease & 1st right refusal for sep sale of boathouse w/BA & 6 boat slips! This 6BR, 4 full BA, 2 1/2 BA home offers Apartment w sep entrance! 2 wood burning fireplaces 1 w Cape Lighthouse Stone mantel! Full basement, office, owner financing available at 3-4%.  Learn more about this home. 8 Lewes Avenue Listed at $1,595,000 COASTAL LIVING MASTERPIECE Designed for entertaining...

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NAR’s Existing Home Sales Report [INFOGRAPHIC]

Posted by on Feb 27, 2015 in Infographics | Comments Off on NAR’s Existing Home Sales Report [INFOGRAPHIC]

 

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Where Are Mortgage Rates Headed?

Posted by on Feb 26, 2015 in For Buyers, Interest Rates | Comments Off on Where Are Mortgage Rates Headed?

Where Are Mortgage Rates Headed?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. Below is a chart created using Freddie Mac’s February 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of 2015. How Will This Impact Your Mortgage Payment? Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly. Research released by Zillow touched on this point: “As rates rise, new home buyers will confront higher financing costs and monthly mortgage payments. For many, this will mean tightening their budgets and sacrificing some luxuries they may take for granted today.” The experts predict that home prices will appreciate by 4.4% over the course of 2015. If both predictions become reality, families would wind up paying considerably more for their home. Bottom Line Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream...

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Are House Prices Beginning to Accelerate Again?

Posted by on Feb 25, 2015 in Pricing | Comments Off on Are House Prices Beginning to Accelerate Again?

In a recent post, we explained that the supply of homes for sale in December was at its lowest level in over a year. The January National Housing Trend Report from realtor.com now reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong. This prompted realtor.com’s Chief Economist Jonathan Smoke to report: “January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices. Half of the 200 markets realtor.com tracks experienced year-over-year price increases of at least 6% in January.” This after the National Association of Realtors (NAR) had already reported in their latest quarterly report: “The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market.” Bottom Line Whether you are a first time buyer or a move-up buyer, now may be time to purchase a home – before prices increase any...

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Home Sales are NOT Collapsing!

Posted by on Feb 24, 2015 in For Sellers, Move-Up Buyers | Comments Off on Home Sales are NOT Collapsing!

Home Sales are NOT Collapsing!

The National Association of REALTORS (NAR) just released their Existing Home Sales report and some have taken the results and ran with headlines like: “Existing home sales collapse in January despite low mortgage rates”. Let’s take a closer look at what the report really shows. There is a seasonality to home sales that happens every year, with a decline in January, (as shown in the graph below.) But in reality 200,000 more homes (3.2%) sold this January over last January. The demand for housing hasn’t been a challenge. Current buyer demand, as shown in the graph below, is actually 3x greater than that of January 2014. NAR’s Chief Economist, Lawrence Yun points to the real issue at hand: “Realtors® are reporting that low rates are attracting potential buyers, but the lack of new and affordable listings is leading some to delay decisions.” Even though buyers are out looking for their dream home, they cannot find it! Inventory levels increased slightly since December, but are still below historic norms and unable to keep up with the elevated demand. Bottom Line If your plan for 2015 includes selling your house, waiting till the Spring may not be in your best interest. Meet with a local real estate professional in your market who can explain the opportunities available...

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