Monday's Main Event - Vol. 93.0 - 08.19.2024

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... Change is afoot....  What are Buyers and Sellers thinking about the changes in Real Estate that went into effect this past Saturday? With one week left in August, Closings are trailing a little behind last year.  However, the last week of the month is historically a strong month for settlements, so we may very well see an increase over a year ago once the month is complete. The National Average of a 30 year Fixed mortgage was essentially flat last week compared to the week before; just under 6.5%.  As we near September, we expect to hear good news from the FED that will hopefully continue to push rates down. To sum it up...    Home sales are reaching parity as we see New Construction closings slowing and the average home price down from the prior month and last year. With the recent decrease in interest rates, that may change and I expect to see transactions tick up over last year as we continue into the Fall months.  What that will mean for prices, is yet to be seen.   Call, Text or Email me 215-432-3066 // jeff@jeffheckerhomes.net This weekend some major changes took effect in the Real Estate landscape.  Below is a breakdown of the important changes you need to know about as a Seller or a Buyer! 1.  Sellers are responsible for their Agents compensation, as agreed to in the Exclusive Listing Agreement.  Buyers are responsible for their Agents compensation as agreed to in the Exclusive Agency (Representation) Agreement.  There is NO ASSUMPTION that the Seller pays the Buyers Agent’s fees.  2. Sellers are still ALLOWED to pay Buyers Agent’s Compensation - they have never been and are still NOT REQUIRED to pay them.   3.  No mention of any type of financial compensation from the Seller to the Buyer or the Buyers Agent are allowed to be made in the Multiple Listing Service (MLS).  However, marketing of  compensation through other means is allowed. 4. Any Compensation to the Buyer or the Buyers Agent from the Seller MUST be negotiated and agreed to in the Agreement of Sale or through addendum to the AOS.  5.  Realtors are NO LONGER ALLOWED to discuss Real Estate or Show Property to prospective Buyers without a SIGNED Agency Representation Agreement between the Buyer and their designated Agent.  Some of the changes are a little more complex.  Be in the know and make sure you’re working with an agent who is representing YOU and your best interests; not the other side of the transaction.   For More Information: Jeff Hecker - 215-432-3066 - jeff@jeffheckerhomes.net 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.