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mortgage rates


Beach Lifestyle Homes by David Scuccimarra

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an affiliated agent of Long & Foster

Research.  Research.  Research.

One of the most useful websites that I have found for buying a home in a new area is John Brady’s Top Retirements (  This website provides a variety of information and statistics that are invaluable for those planning to retire and perhaps relocate to a new neighborhood or community. Recently, an article entitled, “The 15 Most Common Retirement Mistakes from” was posted.  The article resonated with me as a realtor since six (6) of the most common mistakes were related to real estate. They include:


• Buying a home in a new community without spending enough time there.

• Moving too far away (or too close) from friends and relatives.

• Failing to visit enough places before making a decision of where to live.

• Moving to an area that is a bad fit politically, religiously and socially.

• Failure to examine the financial health and the rules of the Home Owners (Community) Association.

• Moving to a gated active adult community and finding they miss the diversity of being around people of all ages and interest.


All too often clients buy a property impulsively without really knowing the neighborhood or community.  This includes reviewing the covenants and regulations of Home Owner Associations which may impact them personally prior to purchasing a property. They often limit their search for a home to one community excluding viable alternatives and opportunities.

Real Estate expert Brian Buffini suggests that buying real estate should involve a process of elimination.  Eliminate what you don’t want according to the criteria which you have established in terms of non   negotiable and wants before settling on a property.

Buying real estate especially for those who are retiring involves research and planning.  Prospective buyers should:


• Research the area in which they would like to retire

• Develop criteria in terms of must have, wants and wishes for a home

• Meet with their account, financial advisor or mortgage lender to ascertain what they can afford in terms of mortgage  payment and  the maintenance of life style

• Visit communities of interest on weekend days, weekends and weekends or spending an extended stay  to get a feel  for the community  and determine as to whether this is the best fit for you

Doing so may eliminate future heartbreak and help you avoid making costly financial mistakes.

What Is The States Tax Rate?

In an article entitled, “10 Most Tax Friendly States in the U.S.”, Kiplinger cited the lack of sales taxes, low property taxes and limited excise taxes for Delaware’s ranking as the number 1 most tax friendly state.

• State income tax: 2.2%-6.75 %

• The median property tax on the state’s home value of $249,400 is $1,078, low compared to other states.

• Other advantages for retirees include tax exemptions for Social Security or pension incomes up to $12,500 per year per person from state income tax.

Check out the slide show at

How Your Home is Staged Can Affect the Number of Days it Takes to Sell.

I am an Accredited Staging Professional (ASP®).  As an Accredited Staging Professional I am trained in how to present your home for showings in a way that helps get it sold.  Staging your home prior to showing it to potential buyers can significantly affect the sale of your home.

95% of ASP Homes Sell On Average In 11 Days

Sellers Get An Average Of 17% More For The Home

Non-Staged Homes Take 78% Longer On Average To Sell

Use Your Military Benefits!

Although there are 23 million veterans currently in the USA only 7% use the benefits that have been awarded to them.  These benefits include eligibility for the GI Bill and VA loan program. Of those veterans purchasing homes, only 8% use the VA loan program. Part of the problem may be attributed to the lack of realtors knowledgeable about the military and programs available to assist them in the purchase or sale of a home. I recently took the course work to become certified as a Military Residential Specialist (MilRES).   With the skills and knowledge gleaned from this course I will be able to act as an advocate for our veterans and military personnel and guide them through the process of purchasing or selling a home.

Snapshot Of The Rehoboth Beach Housing Market

May 2014- Source: Long and Foster Market Minute

  • Active Inventory





    The total number of active inventory this September was 466 compared to 478  in September  2013.

  • Units Sold



    The number of units sold in September remained stable.  The month's total units sold was lower than at this time last year, s decrease of 41%.

  • New Listings & Current Contracts

    New Listings 103

    Current Contracts  49



    103  new listings and 49 pending contracts

    There were 103 homes newly listed for sale in Rehoboth Beach compared to 80 in September 2013, an increase of 29%. There were 49 current contracts pending sale this September compared to 34 a year ago.

  • Median Sales Price





    In  September of 2014 the median sales price was $437,000.  This was a

    increase of  14% or $54,500  compared to last year's median price of $382,500.

  • Months Of Supply




  • Days On The Market


    The average number of days on the market was 110, a decrease of 44% over last year.

Mortgage Rates

Now is a good time to purchase or sell a home while interest rates remain low by historic standards.   At the National Association of Realtors (NAR) Annual Convention, its chief economist stated that higher interest rates – up to 5.4% by the end of the year will take affordability out of the market.

Keeping abreast of the changes in interest rates as well as factors that affect rates is critical in today’s housing market.  Two wonderful resources are Jeff Baxter’s website and Anne Vogel Flaherty at Prosperity Home Mortgage,