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All About Delaware Real Estate

By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Are you considering selling your home this year? If so, this could be the ideal moment to take action. Experts predict that the ideal week to list your home is quickly approaching.   The best week to list your home this year is April 14–20, according to a recent Realtor.com study that examined housing market trends over the previous few years (2020 was an anomaly).“Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if sellers want to see lots of interest in their homes, sell quickly, and pocket some extra cash, according to Realtor.com® data."Here's why you should care about this. This might be the peak sweet spot, but the spring market is always a great t...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Are you unsure if selling your house now is still the right decision? Well, to put it briefly, yes. You can see two reasons for this if you look at the quantity of houses that are currently for sale.  According to a Calculated Risk article, the number of properties for sale has increased by 15.6% since the same week last year. That indicates a rise in inventory. However, compared to 2019, the last year the housing market was normal, there are currently about 40% fewer homes available for sale: Here's a summary of how this helps you in the event that you sell.  1. You Have Greater Moving ChoicesAre you considering selling because your needs have changed, your present home is too big or too small, or both? If so, you have more options for your home search thanks to the year-over-year grow...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
 Numerous factors can cause property values to fluctuate, so it's critical for homeowners to be aware of those that could lower their home's value. While some of these factors—like interest rates, the state of the economy, and market conditions—are beyond your control, others are largely under your control. A home's property value can be adversely affected by certain projects, or lack thereof, ranging from ugly renovations to careless home maintenance. Knowing what depresses property value will help you safeguard your house and maximize your return on investment when the time comes to sell.   1) Not Using Professionals for Home ProjectsIn addition to making their space more comfortable and enjoyable, many homeowners undertake home improvement projects in an effort to increase the value ...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
CLICK TO DOWNLOADFREE STAGING GUIDE The lighting in your home plays a crucial role in highlighting all of your best features, so make sure to highlight them all before you flaunt them. Consider this: we adore public spaces with plenty of light, such as parks and shopping malls. Prospective purchasers will value the same glow emanating from your house.It involves more than just turning on all of the overhead lights. To make the room more cheerful, you must select the appropriate arrangement of blubs. To make sure your property is flawlessly lit before a showing, follow these seven staging tips.1. Clear Up the Room's Purpose Think about each room's utility first when deciding where to add lighting in your house: how much light is necessary for a person to be able to function in this space...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
  It's true what they say: "First impressions matter," particularly when it comes to your house. One of the most important factors in determining how people initially view your property is curb appeal. Making the most of your home's curb appeal is a worthwhile endeavor, whether your goal is to sell it or just improve its overall appeal. This post will discuss doable strategies and ideas for updating the outside of your house to make it seem more hospitable and appealing.      Front Door: Your front door is a main attraction and an excellent place to create a statement. An energetic coat of paint in a striking hue that harmonizes with the exterior of your house can revitalize the entryway. Upgrade hardware for a unified and fashionable aesthetic, such as mailboxes and doorknobs. The welc...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
When touring a home that is listed for sale, buyers and their agents tend to be attracted to things that show need of obvious repair or deferred maintenance. While not addressing these issues may not remove interest in your home, it will give a skilled negotiator additional leverage in the home purchase strategy.  To avoid having equity removed from your pocket, is an important to address these issues.  Whether you’re currently aware of any of the following issues or they’re discovered during a pre-listing inspection, it is usually much more financially wise to remove these items prior to listing.   1. Roof  issuesMissing or damaged shingles or gutter issues are normally apparent prior to entering the home.  A negative first impression is not the best way to get your home sold.  Even if...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Now is the ideal time to begin preparing your home if you plan to sell it this spring. As the market prepares for its busiest season, it will be crucial to ensure that your home stands out from the competition.Here are some helpful pointers to help you prepare your home for the market.  Declutter and OrganizeBuyers are influenced by first impressions, and a messy home can quickly turn them off. Spend some time organizing and decluttering each room before listing. More than just organizing your belongings, decluttering aims to make your house feel open and spacious so that prospective buyers can picture themselves living there. As per Moving.com:"Organizing and decluttering your space will make it much more appealing to potential buyers. Decluttering will make it easier for them to pictu...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Moving might be one of your main objectives for the upcoming year. However, how can you decide when to take action? Although spring is typically the busiest time of year for home buyers, you don't have to wait until then to sell. Here are some reasons why not to wait.  1. Take Advantage of Lower Mortgage RatesThe 30-year fixed mortgage rate peaked in October of last year at 7.79%. They reached their lowest point since May in January. This implies that you might not feel as committed to your existing mortgage rate at this time. Moving is now more affordable than it was a few months ago thanks to this downward trend in interest rates.Another reason why now is a good time to sell given today's rates? Buyers are returning to the market in greater numbers. Now that rates are starting to decl...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
A house sale can be a major undertaking. A common goal among homeowners is to sell their home quickly.Whether you're relocating, downsizing, or have other reasons why you need to sell quickly, putting these strategies into practice can really help.A thoroughly thought-out plan can improve the home sale process, regardless of whether it's a glitzy mansion or a stigmatized property.Years of experience as a listing agent have taught me that far too many sellers need to work hard to create a positive impression of their properties.For first-time home sellers who require additional experience as a backup, it becomes essential. It can help to have a real estate expert by your side offering guidance.  Improve the curb appealGetting a potential buyer to view your house is largely dependent on i...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Red flags could keep you from selling, or costing you a lot of money if a deal does end up falling through. It is advisable to address these concerns before listing your house for sale.When it comes time to make an offer, the majority of buyers who are willing to take on your maintenance responsibilities will look for a discount, which can occasionally be significant.  What is a Red Flag in Real Estate?Anything unfavorable that can affect your decision to buy is a red flag. There are a few warning signs that you should watch out for when purchasing a home. These red flags point to possible concerns or problems that could lower the property's appeal and compromise your long-term happiness. Incomplete or Blank DisclosuresA seller's disclosure form is a record that offers details regarding...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
A time of rebirth and blooming flowers, spring is also a hot time for the real estate market. The real estate market wakes up alongside nature. For those who are looking to sell their homes, it offers the best opportunities.We'll look at professional springtime house selling advice to capitalize on the lively vibes and increased attention from buyers.This advice will be especially helpful if this is your first time selling a house. Selling real estate can be an educational experience. Every time you complete it, your skills improve.These are the things you should think about in order to maximize the experience.  Enhance curb appealFirst impressions are crucial in the spring, and your home's exterior sets the tone for prospective purchasers. Improve the curb appeal of your home by painti...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Over the previous two years, the number of homeowners at risk of foreclosure has increased.As per a recent report by real estate data firm ATTOM, over 357,000 properties faced the dreaded foreclosure filing in 2023. That was an increase of 136% from 2021 and 10% from the year before.But real estate experts say it's unlikely that there will be another wave of foreclosures that flood the market with inexpensive homes.“We see the recent rise in foreclosure activity as a market correction rather than a cause for alarm,” ATTOM CEO Rob Barber said in a statement. “It signals a return to more traditional patterns after years of volatility.”Even though that might seem like a large number of homeowners in jeopardy, it only accounted for 0.26% of all housing units in the nation. Additionally, in ...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Upkeep of a home is very expensive. However, are you needlessly spending more money on maintenance? These are the top ten costly errors you might be doing at home.   1. Using Traditional Light bulbsYour inflated monthly electric bill could be costing you a lot of money if you still use incandescent light bulbs in your home. An incandescent lightbulb can consume $180 worth of electricity in its lifetime. In the same amount of time, a CFL will only use $41 in energy. The LED bulb is even more advantageous, costing only $30 per bulb. Consider the financial impact that changing every lightbulb in your house could have.   2. Ignoring a Leaky FaucetMore than 3,000 gallons of water a year, or more than 180 showers, can be wasted by a leaky faucet that leaks one drop every second. While some of...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Home sales are dependent on a number of variables, even in seller's markets, so you may need to be adaptable.It's possible that you're selling a house in a market that is competitive, with little supply and a lot of demand. And you're probably thinking "Whew," if not "Yay!" You are aware that compared to otherwise, you're probably going to have better offers, more interested buyers, and a quicker contract signing process. The good news does, however, come with a warning: you must control your expectations by learning what influences home sales and prices. The right real estate agent, market circumstances, buyer preferences, seasonality, and mortgage rates in relation to inventory are some of the factors.  Work with the Right Real Estate Agent to Sell Your HomeAccording to Jasen Edwards,...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Although not all potential homeowners will agree, pets are the best.  Two things are true for those who own dogs or cats: they can be messy and they are endearing.The American Pet Products Association estimates that over 111 million households in the United States own a dog or cat, demonstrating the widespread sentimentality of this pet ownership. So, it's crucial to get rid of any evidence left by our furry friends when it comes time to sell your home. After all, sellers frequently thoroughly clean and stage a home before putting it on the market to encourage potential buyers to see it as a blank canvas.Here's how to present your house to potential buyers as their "fur-ever" home—minus the fur.  1. Conduct a deep cleaningDoes your furry friend like to lounge on furniture meant for huma...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
 Even the most well-organized person may experience extreme stress when moving. While there is no way to totally remove stress, there are known and unknown ways to make it easier. In this blog post, we'll go over some advice on how to lessen the stress and facilitate a more seamless moving experience. Create a Moving ChecklistMaking a thorough moving checklist can be the difference between complete chaos and a well-organized move. A moving checklist is a vital tool that will help you remain organized, make plans, and work through each task one step at a time. A well-thought-out checklist can help you remember everything, from cleaning and packing to updating your address and calling utility companies. Additionally, it will give you a sense of control in the midst of chaos, which will fa...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Although they have fallen from their October highs of 8%, mortgage rates are still high and remain aground 7%. Additionally, house prices are high: As per the most recent Case-Shiller U.S. National Home Price NSA Index, there has been a seven-month consecutive increase in home prices. It makes sense that these elements combined could discourage you from making a purchase at this time. Regardless of the direction the Northern Delaware real estate market is taking, investing now allows you to start accruing equity right away.  It also entails avoiding the possibility of future increases in mortgage rates: Increasing rates not only result in higher interest payments over the course of the loan, but they can also cause serious problems for your monthly budget.“If a buyer finds a property th...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
If you're considering purchasing a home in Delaware soon, you may be wondering if it makes sense to do so at this time due to rising mortgage rates, rising home prices, and persistent affordability concerns. Though those market factors are significant, there are other factors to take into account. It's important to consider the long-term advantages of homeownership as well.    Consider this: you're probably not going to find many people who regret their home-buying decision if you know people who did so five, ten, or even thirty years ago. For what reason is that the case? The explanation has to do with how house values increase over time and how that increases your personal wealth indirectly. This could be the reason that 76% of participants in a recent Fannie Mae survey said they thou...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
First Start Home Buyer Program is part of neighborhood revitalization initiatives Wilmington is providing help  residents with a down payment on a property.Wilmington Mayor Mike Purzycki stated in a news release earlier in November that residents who meet the income requirements can receive up to $15,000 to assist in the purchase of a home.The New Homebuyer Assistance Program was accepted earlier this year as a part of the 2024 budget.  First Start Homebuyer ProgramThe program is designed to help first-time homebuyers, those who haven't owned a property in the previous three years, as well as displaced homemakers and single parents, with closing costs, down payments, or lowering the cost of a property purchase.Up to $15,000, or 6% of the purchase price of the property, may be awarded to...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
For health reasons, many people kept their distance from loved ones during the pandemic. It was advised that grandparents avoid their grandchildren, particularly when school started. This is because seeing their grandchildren, who might have become ill at school, would have been dangerous.   Many grandparents are eager to spend more time with their grandchildren now that the pandemic has passed in order to make up for lost time. However, how are they fulfilling their "Grandparent Wish"? According to the data, a lot of people are relocating to ensure they have more quality time.Grandparents Are Moving To Be Near Loved OnesPeople between the ages of 55 and 74 are moving farther (more than 100 miles) than any other age group, according to recent data from the National Association of Realto...
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