Rehoboth Beach and Lewes Real Estate in Delaware; Predictions for the FUTURE!
Tuesday, April 29th, 2008Delaware Beach Real Estate Market; Where it is and where it is going.
Nearly all of you here are asking me, one way or another, where is the bottom or when is the bottom of the real estate market or when will rates start going up again. We can only tell, after the fact. Although I predicted the bust, of the boom, for years before it happened; it was months after the boom, busted; before I knew it had occurred. In case you did not know; the boom was busted in January 2006 here and prices have not gone up since, nor thankfully have they gone down. True, asking prices, which mean nothing, have gone up and down but prices at which properties are SOLD; have stuck at the levels of January 2006 and they are still stuck in many cases… in some cases such as ocean front, prices are slowly beginning to go up. Ocean front is always the last to level off and the first to go up during any slowing of the market. We are beginning to see a very slight increasing of SOLD prices, very slight, in the first couple of blocks from the ocean. So, what does my Crystal Ball say about the real estate market here at the Delaware Beaches; I’ll tell you.
My Crystal Ball has always been about as good and about as bad as the balls of those paid millions of dollars to predict the future. Therefore, I have collected some data (so I can blame any failures on others) that I currently agree with. I think we have hit the bottom of the interest rate cycle and that we have now passed the lowest interest rates of the last thirty years and the lowest of the next thirty years as well. If you are waiting for the rates to go lower, they already did and they are on the way back up. They will probably go up somewhat slowly except for some incredibly huge rises at times. One of those times of huge rises could come rather soon.
From Mortgage Market Guide, Weekly; www.mmgweekly.com – Thanks to Chris Gorsuch and Dynamic Mortgage!
Existing Home Sales met expectations, but New Home Sales numbers for March were worse than expected, possibly due to the large increase in the costs for materials needed to construct a home. But then there was a change in climate on Friday, as inflation news from around the World created some strong adverse headwinds for Bonds and home loan rates. Overall, home loan rates ended the volatile week unchanged to slightly higher. Now is still a good time to take advantage of historically low home loan rates before more inflation talk pushes them higher. I’m always here to help advise you, your friends, and your colleagues…no matter the season!
SPRING HAS SPRUNG…
…and that means it’s time to wash away those winter blues! In fact, according to the Soap and Detergent Association - did you even know there was such a thing? - three-quarters of Americans engage in spring-cleaning. In fact, their surveys indicated that more than 80 percent of people who spring clean agree that it helps them save time throughout the year, and 96 percent of people donate or discard items during their spring-cleaning.
But the advantages can go much further than that. Check out these top ten spring-cleaning activities, compiled by www.medicinenet.com, that can help make your home healthier and safer:
- Thoroughly dust your home. Also clean any air conditioning and heating filters, ducts, and vents to minimize pollens and other airborne allergens.
- Organize your medicine cabinet. Throw away expired medications and old prescription medicines that you no longer need.
- Inventory your garage and basement. Get rid of any old paint, thinners, oils, solvents, stains, and other similar items you no longer need. Note: You may need to take these items to a hazardous waste drop off center.
- Inventory under your sinks and around your house. Dispose of old or potentially toxic cleaning products.
- Have your chimney professionally cleaned. This will help you lessen the chances of carbon monoxide exposure when the cold weather returns.
- Clean all mold and mildew from bathrooms and other damp areas. Use non-toxic cleaning products.
- Check your rugs. Make sure that rugs on bare floors have non-skid mats and that older or dusty mats are either washed or replaced.
- Inspect outdoor playground equipment. Make sure that all elements are sturdy and safe, especially guardrails, protruding bolts, and other potential sources of injury.
- Change your batteries. Do so for both smoke detectors and carbon monoxide detectors.
- Collect old batteries throughout the house for disposal. Dispose of them in a battery recycling or hazardous waste center.
And make it easy on yourself - take it one room, one cleaning task at a time. You’ll be more likely to accomplish more if you tackle each spring-cleaning project separately. And that’s great advice…any time of year!
When you have completed all these things; get out your lawn furniture, clean it, fix it, tighten the screws and check the glues and fix, repair or discard and get ready to enjoy the outdoors. Make your appointments for the pool opening and check your yard for moles and voles. Freshen your mulch and please don’t use more fertilizer or weed killer than the label states. Then check out our calendars of events and find some enjoyable things to do, places to go and enjoy our wonderful Place here: DNREC programs for May and for the beachier batch of bathers and boys and girls; Delaware Beach Area Events of Note.
Come on over to our main Real Estate website for the Delaware Beach area: www.Kate-Jody.com check it out, read the articles, search for properties and when you are ready to reach out for our help; write us and ask for further information and help.
