By a Rehoboth Beach Realtor

Easy Money; Easy and Cheap Mortgages Are Still Available: We live in WONDERFUL TIMES!

The stock markets of our nation and those of many others have reacted to our suffering mortgage companies. However, as usual there is a silver lining to this apparent cloud.

The American real estate market is still the most stable place you can put your money, over the long term AND you can enjoy your investment in real estate by sleeping in it, eating in it and having fun with your family and friends in it… your home or investment property.

The silly and dangerously loose loans that some lenders made are gone now. The rampantly rising prices of property have stopped; actually it stopped in January of 2006. In almost every instance I can find properties here are selling at the same prices they sold for in Jan. ‘06 and have not sold for more since then. If the price was higher they didn’t sell. Regular loans are available and there are more and more homes available at realistic prices as sellers and their agents realize the real values.

Interest rates are still as low as they have been in the last 50 years or so. A regular borrower; that is a person with sufficient provable income, a reasonable credit score and a reasonable down payment can still get a fixed rate loan, with no points or fees, for 6% or less.

Because lenders are only approving valid buyers now there are far fewer buyers and thus the supply and demand ration favors the legitimate buyers that remain.

Loans are a little more difficult, not much, for properties that require a mortgage for more than $417,000 (the cutoff for so-called jumbo loans).

Here is the deal: Legitimate Buyers need to have at least 10% down payment and 20% is best; they must be able to show where it came from with copies of three years of tax returns; they need to have a credit score of 700 or better and 750 is best. They need to have sufficient income and sufficient income left over after their other payments to afford the new mortgage easily. Those with lower credit scores can still find a loan but not at the lowest rates.

Un-provable income, which is far in excess of what is reported on tax returns, will not be easily accepted for loans these days. However, again, a traditionally decent borrower can still get the cheapest and easiest to obtain mortgage that has been available in this generation.

See lots more useful information about buying and selling real estate at the Delaware Beachs:

http://www.kate-jody.com/essays/index.html 

copyright 2007 by Jody Hudson

So, you’re not much of a beach bum.  Not much for tours or fishing, and you’re tired of outlet shopping.  What to do…

A few considerations…

How about a Delmarva Shorebirds game ?  The Shorebirds are the Class A affiliate of the Baltimore Orioles, and play their home games at Arthur Perdue Stadium in Salisbury. They play in the South Atlantic League’s Northern Division.  There are still some home games left…visit the Shorebirds’ website for the remaining schedule.
By the way, root root root for the home team…until the last weekend against the Lake County Captains, who are local to me.

In Wilmington, you have another Class A affiliate, the Blue Rocks. The Blue Rocks are affiliated with the Kansas City Royals and at the time I’m writing this are in first place in the Northern Division of the Carolina League. They play their games at Frawley Stadium in Wilmington. Visit the Blue Rocks’ website for schedule information - and playoff tickets, perhaps ?

And for college athletics…

The University of Delaware, Delaware State University, and Wesley College all have athletic programs. Visit here for Blue Hens’ info, here for Hornets’ info, and here for Wolverines’ info. I’m sure you’ll find links for ticket information and schedules.

 From www.WGMD.com    

Bidding is Closed but it is not marked SOLD… Keep an eye on it still folks!

Property Description: Fourteen Foot Bank Lighthouse
The lighthouse is a 3 story cast iron tower topped by a lantern and a upper gallery deck. The tower rests on a black trumpet shaped iron caisson lined with concrete. The lighthouse includes a keepers quarters, fuel storage area and a lantern room. The lighthouse was constructed in 1876. Located in Delaware Bay approximately 3 miles offshore of Bowers Beach, Delaware. Bowers Beach is approximately 10 miles southeast of Dover, Delaware.

Contact Information: Go to: GSA Auction Site 
Name: Louis Mancuso Phone: 404 331-9451 Email: louis.mancuso@gsa.gov

For more on the Fourteen Foot Bank Lighthouse -

* Fourteen Foot Bank Lighthouse

Copyright Jody Hudson:

Folks; I have been writing articles to help those who wish to live, buy or sell here near the Rehoboth Beach area; for nearly a decade.  Many of my articles have been picked up by other websites and republished across the Web.

Here are a few of the most popular for your review!

Where DID All The Farmers Go?
Horses in my Back Yard Where the Critters Play!
Culture Shock: When Moving From an Urban to a Rural Area
Growing Up On A Delaware Farm
Buyer’s Agent, Seller’s Agent & Dual Agent

There are more!  Search Google for copyright Jody Hudson and you will find that not all of the 700,000 responses are my articles, but many are! 

Please let me know if there is something you wish to know about Real Estate in our area and I will research and write an accurate article, for you, and for everyone else.  If you have a question, others will have the same one.

Jody

You’re bored with looking at girls on the beach (to which I say, “What’s wrong with you, man ?”). You have had your fill of Grotto or Nicola Pizza and Dogfish Head beer (see previous comment). You’ve hiked Cape Henlopen, Trap Pond, and even up at Broadkill. What else can I do that will not only kill some time and not cost a whole lot of money, but will relax me as a local ?

I have just the answer…fishing.

There are a wealth of opportunities for fishing in Sussex County, and there you have the choice of salt water or fresh water fishing. There are numerous ponds and lakes, the Indian River Inlet and Rehoboth Bay, and of course surf fishing the Atlantic Ocean or Delaware Bay.

Now that you have an idea of where to go, now you need to get some bait.  What should you use ?  Here are a few suggestions…

If you are fishing for flounder, hook a live minnow at the mouth or a shiner through the eye, as well as a squid. 

For tautog, who live around rocks, live green crabs work well.  Also, to avoid losing your fish to the rocks, there is a trick involving using a rubber band to put your sinker on. Then, say you catch one and your sinker gets caught on the rocks, you might lose your sinker, but you’ll get the fish.

You can use something as simple as bloodworms for kingfish, spot, trout, and stripers.  Mullet strips also work well for the former three. 

Don’t forget…for surf fishing, your standard 4-pound test won’t work. Make sure you get good heavier line. It may not work on your Zebco 33, but you’ll be able to make the haul.

And of course, where to buy the bait.  Although there are a good number of good bait and tackle shops, I suggest Bill’s Sport Shop.  There’s a web link below for them.

For DNREC surf fishing information, visit the DNREC surf fishing website. For information on other locations, a good place to visit is Bill’s Sport Shop’s website. And too, Bill’s Sport Shop is the best place to stop before you wet your line for bait (salt or fresh water), gear, etc. This website and also this one are two other good resources.