Monday's Main Event - Vol. 147.0 - 11.03.2025

 

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... ... October home Closings were down significantly while prices continue to increase ... October residential Closings were down considerably from a year ago, while the average home price is up 10% from last year and the 5 year average. The .25% reduction in the FED rate last week had minimal effect on the average 30 year mortgate rate, although it was down slightly from the previous week and continues to inch closer to the 6% mark. To sum it up...  October was a difficult month for Sellers - both New Construction and Resale, with fewer homes sold and those home that did skewing to the higher price brackets shows an average price increase overall.  This isn't to say that there aren't homes under $600K on the market currently, but the Buyer pool is out of balance where Buyers are being more discerning and tending to wait and see, longer.   Reflecting on the reduction in the FED rate last week, we know there's not a direct correlation between it and mortgage rates - but there is some and it will be interesting to see if rates continue to drop in November with the anticipation of another FED adjustment in December. Just Listed - The Jasmine by K Hovnanian is a wonderful one-story, three bedroom home on an extra-wide lot located in the Seabrook community.  Beautifully appointed and a handsome three season room provide both convenience and comfort for everyday living, while the wooded lot behind the home provides plenty of lush greenery and privacy. Property Info:  https://us-east.prospects.com/prospects/m.do?tk=720bb53289d66f8909d5efbaae8bbed3 Property Walking Tour: https://my.matterport.com/show/?m=be9GSVjC34n Schedule a Private Tour Just Listed in Lewes - This beautiful Iris model from Schell Brothers reflects coastal style with a nod to an equestrian lifestyle.   Conveniently located in the community of Saddle Ridge, it's just minutes to downtown Lewes and Rehoboth.  The three season room overlooking the community green space, pond, and amenities is a must see.  Complete with 4 bedrooms and 2.5 bathrooms, there's plenty of room for comfortable living and entertaining.     Property Info:  https://us-east.prospects.com/prospects/m.do?tk=57ff4857b8676b8357fb49a0a8789c11 Property Walking Tour: https://my.matterport.com/show/?m=TjdmJTchBi1 Schedule a Private Tour Recently Reduced - this beautiful Frank model from Insight Homes is located in an idillic setting in Millsboro, about 20 minutes to the beaches.  Just 6 years young - this very well appointed 4 bedroom, 3 bathroom home is complete with custom board and baton trim throughout and a cozy 3 season room overlooking community ponds and fountains. Property Info:  https://us-east.prospects.com/prospects/m.do?tk=2a9c8a39e688e6a745b94f04605c65d6 Property Video: https://players.brightcove.net/5781544516001/default_default/index.html?videoId=6377143916112 Property Walking Tour: https://my.matterport.com/show/?m=JqnUpkAVnSe Schedule a Private Tour 31 Radcliff in Rehoboth didn't last long.  Only on the market for a few days UNDER CONTRACT!    Property Info:  https://us-east.prospects.com/prospects/m.do?tk=bbe576d6d126459dbe1b4412a001bb70 Property Walking Tour: https://us-east.prospects.com/prospects/m.do?tk=bbe576d6d126459dbe1b4412a001bb70 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.