Monday's Main Event - Vol. 92.0 - 08.12.2024

Monday's Main Event Get a jump on your week with the latest in local Real Estate Market trends, Mortgage Rates, and Local Happenings The Main Story... Mortgage Rates are below 6.5% and expected to continue to fall.  Is it a good time to make a move, or is the waiting game still the right approach? Continuing off of last weeks thoughts, Year to Date New construction units are down overall, although up in the largest quadrant - between Rts 1 and 113.  Prices of New Construction homes have started to settle in, especially in the areas closer to the beaches. The National Average mortgage rate dropped again last week and is now below 6.5%.  Compared to last months and last years averages, this is a significant drop prior to the Fed's anticipated announcement of a Fed Rate Drop in September.  To sum it up...    New Construction homes still make up about 25% of the total transactions year to date, but the average home price is down year over year which is a response to slowing new home starts and is a direct correlation to lower Resale home prices. Interest rates are not at a critical time for Buyers to get serious.  Some lenders will allow a locked rate to "float down" in the event that the rates continue to go down.  This will allow someone who locks in now to take advantage of an even better rate in the coming weeks.  With the average Contract to Closing taking 45 days, now is a good time to lock in with the anticipation of rates to continue to go down through September.   Call, Text or Email me 215-432-3066 // jeff@jeffheckerhomes.net SAVE, SAVE, SAVE....... on 107 Heritage Boulevard. Seller Financing available with a 4% interest rate!!  At 2.5 percentage points below the current rates in Delaware, this is more than $650 / month in savings (nearly $120K in 15 years).  Not to mention the thousands of dollars saved by not having Lender's Origination fees.  Builders can't touch this rate! Looking for a Deal ? See what's been sitting around for more than 90 Days and where the greatest opportunities are to negotiate with Sellers Detached Homes Townhomes Condominiums Manufactured Homes See something you like ? Call, Text or Email me for more information. jeff@jeffheckerhomes.net  215-432-3066 Accredited Buyers Reprensentative I'm proud to say that recently I became an Accredited Buyers Representative through the National Association of Realtors. This accreditation is geared toward the nuances of a Buyer and Seller relationship and how Agency comes into play with Unrepresented Buyers. Did you know, if you're a Buyer and don't have an Agency relationship with your Realtor®, they are representing the Seller, NOT YOU!? For More Information: Jeff Hecker - 215-432-3066 - jeff@jeffheckerhomes.net Click Here to start your home search, today! Help me, help you. Complete the Survey Forward this to a Friend Real Estate Portfolio Analysis Stay up to date on your home valuations and real estate assets with a real estate portfolio review. New Newsletter Content Want something that you don’t see in this newsletter? Hit reply and let me know! Local Business Recommendations Reach out to me for any home improvement project contractors, or even food & activity recommendations. Market Stats for Specific Towns or Communities I’m here to help decode the mystery of the Sussex County Real Estate market. Let me know which communities you are interested in for more information.

 

Did you find this information helpful?  Let me know by simply replying "thanks" in the comments, below. Interested in information about a specific town or community?  Let me know in the comments, below.   I'm here to help decode the mystery of the Sussex County Delaware Real Estate market. *all information in this email is relative to Sussex County Delaware and is not to be construed as the case for Kent or New Castle Counties.