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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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Thinking of Buying? What are you waiting for?

Posted by on Feb 23, 2015 in First Time Homebuyers, For Buyers, Move-Up Buyers | Comments Off on Thinking of Buying? What are you waiting for?

If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 3. Either Way You are Paying a Mortgage As a paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” 4. It’s Time to Move On with Your Life The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy. If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. Members: Sign in now to set up your Personalized Posts & start sharing today! Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized...

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The Truth About US Homeownership Rates [INFOGRAPHIC]

Posted by on Feb 20, 2015 in Infographics | Comments Off on The Truth About US Homeownership Rates [INFOGRAPHIC]

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Two Graphs that Scream – List Your Home Today!

Posted by on Feb 19, 2015 in For Sellers, Pricing | Comments Off on Two Graphs that Scream – List Your Home Today!

We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand. If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why… DEMAND According to research at the National Association of Realtors (NAR), buyer activity last month (January) was three times greater than it was last January. Purchasers who are ready, willing and able to buy are in the market at great numbers. SUPPLY The most recent Existing Home Sales Report from NAR revealed that the months’ supply of housing inventory had fallen to 4.4 months which is the lowest it has been in over a year. Bottom Line Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property. Members: Sign in now to set up your Personalized Posts & start sharing today! Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized...

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Homeownership Rates: Are they Crashing?

Posted by on Feb 18, 2015 in For Buyers | Comments Off on Homeownership Rates: Are they Crashing?

The Census recently released their 2014 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership. Easy… Chicken Little The national homeownership rate peaked in 2004, representing a 69.2% of Americans who bought vs. rented their primary residence. Many have noticed a decline in rate since then and taken that as a bad sign. However, if you look at the national rate over the last 30 years (1984-2014), you can see that the current homeownership rate has returned closer to the historic norm. 2014 ended the year with a rate of 64% just under the rate in 1985 and 1995. Bottom Line With interest rates and prices still below where experts predict, evaluate your ability to purchase a home with a local real estate professional. Members: Sign in now to set up your Personalized Posts & start sharing today! Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized...

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