A Realtor's Life in Today's Real Estate Market
Source:https://youtube.com/shorts/pMyHs80NfAc The Real Estate Market today is getting more challenging each day for us Realtors, but it is still a fulfilling career. Every day is a chance to help people during significant moments in their lives, like purchasing their first home or finding their dream homes a reality. My days are always new and ever-changing, giving me immense joy and fulfillment. But, people still think that Realtors are thriving in these trying times. Whenever I tell someone that I am a Realtor, the first thing I hear is they think I must love this market. "You must be making a fortune in this market," they say. That is simply not true. Let me show you what I mean, so keep reading. Tough Times in a Realtor's Eyes I will be honest: this market is difficult. It does not matter whether you are a seller, a buyer, or an agent; it is a challenging market. I am putting in an additional twenty (20) or more hours than I would have been working as a Realtor in a normal market. Why is that? Allow me to explain. Before, I usually see maybe around ten (10) homes of the buyer. After that, I can create and then put in a compelling offer for the buyer to consider. Usually, the buyer would probably accept it on my first try. Now, what’s happening is that I go to see more than twenty showings with each client. Then, I will try putting in around ten compelling offers or more for them to consider. After all that effort, approximately 10 of them get rejected. And if I am fortunate, my 11th offer is the one that will be accepted, finally. Moreover, that is all within an average of one to four months. It all depends, which means hard work and extra patience. A Realtor's Passion So, do I love this market? No, I don't. But, I still believe it is a great time to be a realtor. I love what I do simply because there is a lack of information that people have when it comes to purchasing a home. And as a Realtor, I want to be that first person they go to relieve any fears they have and carefully guide them through the process. In this way, I can help them see that buying a home (or selling it) can not be as scary or stressful as it may seem, especially with all the competition. And that brings a deep sense of fulfillment and makes me continue doing what I do. Final Thoughts Today’s market might be difficult for Realtors, but that doesn’t stop me from helping people close a deal for their homes. In fact, I am more pumped than ever! If you need help purchasing your home or selling your house, the Loft Realty Team is here to serve you. Don’t hesitate to call us by phone at 302-491-4599 or email us at Hello@LoftTeamDE.com, and we’ll get back to you immediately. Once again, I’m Amanda Deflippis, and I can’t wait to hear from you! Because here at Loft Realty, we are the difference you deserve
4 Steps to Buying a Delaware Home | Delaware Home Guide
Source: https://youtu.be/0Sr1E7EraAg So, you're ready and pumped up to buy a home here in Delaware. However, you are pretty unsure about where and how to start. Well, you've come to the right place. Indeed, buying a home involves many steps and can sometimes be complicated and stressful. But don't fret. We at Loft Realty are delighted to guide you and help you through it from start to finish. My name is Amanda, and let me walk you through the four (4) steps in buying a Delaware home. Let's jump right in. 1. Find a Realtor First, you want to connect with a local realtor in Delaware. And not just any realtor; you want to associate yourself with a realtor who understands your wants and needs. Like me! Here at Loft Realty, you’ll find a team of highly skilled and trusted realtors that deeply cares for your needs. Together, we’ll carefully discuss and get to know your current financial situation and the area that you're looking in. This way, we can give you recommendations tailored personally and find a perfect local lender fit for you. Once we get things moving, we can move to step 2. 2. Contacting a Lender Yes, you need capital to buy a home. And so, it’s crucial to look for a lender that fits your needs. But, you may be worried about what questions they will ask you. Do you think they will judge you on your thousand DoorDash orders? Maybe you’re anxious they are going to dig up your credit history. Or, perhaps you’re afraid you don't have $100,000 saved in your bank account. The answer to that is yes; they are going to check your credit score. And true enough, the higher the credit score, the more favorable the loan you'll receive. However, most lenders will only shoot for a minimum of a 620 credit score or higher. Another good news is that you don't necessarily need a hundred thousand dollars in the bank. They will just look for a minimum of 5% of the purchase price to cover your down payment and closing costs. Then, they will look at how long you've been at your job or any debts you currently have, just for reference. In other words, you need not be intimidated as you don't need a perfect financial situation to purchase your new home. As long as you know these minimums, you’ll be fine. So, with that out of the way, here comes the fun part! 3. House-Hunting! It’s time to look at some houses! This step is where you and I will take the time to strategize and look at different neighborhoods, school districts, areas, and price ranges. At this point, we’ll drill down to your wants and needs, constantly looking and deciding on our options. And from there, we'll find your new home. At this point, we're ready for the fourth step. 4. Transaction Process The transaction process can be a bit complicated, making buying a home intimidating. There are a lot of steps to it, but we here at Loft Realty have created a step-by-step buyer guide just for you. To gain exclusive access to our Delaware Home Buyer's Guide, click here or email us at Hello@LoftTeamDE.com, and we'll happily send it your way. So, if you are: ● A current homeowner who sees this crazy market and wants to strategize about how to time itcorrectly;● You haven't bought a home in a while, and you don't know the next step to get started;● You've never purchased a home before, and you have no idea where to start; or● You're one of those savvy people out there who want to gather all of the information and strategize before making a significant decision; Then, our Delaware Home Buyer's Guide is for you. Feel free to reach out to me, Amanda DeFlippis, and I'll bemore than happy to serve you. Because here at Loft Realty, we are the difference you deserve.
Kent County Delaware Housing Market Update July 2022
Source: https://youtu.be/oOEFPveNxQE Hello, Kent County Home Owners! It's time for our Housing Market Update for July 2022. Let's begin right away by talking about numbers. We've seen 132 homes that went active on the Kent County real estate market in the previous month. However, 204 homes went under contract. How did that happen? Let's dive in to understand this situation deeper. It's All About the Contracts To better grasp this case, let's look at the statistics. For all home listings on a contract last month, 55% of these got under contract within the first 45 days. This means that more than five out of ten listed homes move forward in the transaction and get under contract. On the other hand, the remaining 45% of these home listings in the housing market take more than 45 days to go under contract. What could be the cause? Three reasons come on top: 1) Unreceived Contracts The first reason is that homeowners may just not receive their contracts yet. As mentioned above, more than four out of ten listings took 45 days and above to go under contract. This could be from delays in brokerage processes or the waiting time in the movement of documents, which in essence rolled over to the next month. 2) Ineffective Contracts. Another reason is that homeowners may not have received an effective contract for selling their homes. As a result, there could be more back-and-forth revisions with their brokerage, which can take 45 days or more. 3) Marketing Problems. Lastly, homeowners may not have had good marketing, so contracts are not closing in. After all, they still have to go out there and sell a house by getting buyers' eyes in front of it. Subpar marketing will drive the point why it takes more than 45-plus days to get a home under contract. Now, with these valuable facts, what does that mean for you as a homeowner in Kent County? We've seen that in the last 30-60 days, homes stay listed a little longer in the real estate housing market before they get sold. However, the critical part is that homeowners are still receiving contracts nonetheless. Moreover, you likely have a lot of equity if you bought your house more than two years ago. Remember that the equity we're talking about is the value of the mortgaged property after deducting charges against it. In fact, most homeowners in the United States have 180,000 dollars in equity! As a Kent county homeowner, that means you have many options during this season. Contact us at Loft Realty Well, that’s it for our July Housing Market Update for Kent County! If you're curious about finding out what options you might have for that Equity in Kent County, don't hesitate to reach us and talk to one of our agents, Austin, here at Loft Realty. Please email us at Hello@LoftTeamDE.com, and together let's strategize your next move. See you on our next monthly update!
New Castle County Delaware Housing Market Update July 2022
Source:https://youtu.be/VdHIB57cAiQ The New Castle County Housing Market officially shifted at the beginning of the third quarter of July 2022. For the past two months, the homes in New Castle have been selling insanely fast. However, recently, the market has shown signs of calming down. Is it good news or bad? Well, it just means that we have fewer buyers than we did a few months ago, mainly due to rising interest rates. Let's dive deeper to understand what's happening in New Castle County Housing Market this month. June vs. July Comparison About seven weeks ago, we saw around eight (8) showings per listing in New Castle County. Compared to this week, we only see six (6) showings per listing. This data shows us that whenever New Castle posts a home listing on the market, only six people go out to check it personally. But, what's odd about that data is we have more homes hitting the market today than we saw seven weeks ago. At the beginning of June, we only have 35 listings hit the market in New Castle County. However, this last week, 144 listings hit the housing market. In other words, we have four times more listings hitting the market today! So why are there a lot fewer buyers going to see these listings? The main reason is the rising interest rates. As these rates increase, mortgage plans become seemingly more costly to the home buyer. Hence, people wanting to buy a home are stepping back a bit and trying to wait things out to improve. So what do these factors mean for you as a homeowner? Well, here are three things. 1. Length of Listing on Market Increases Since fewer people are showing up, New Castle's homes will sit on the real estate market longer. This might mean slower turnover rates for the sellers, but this means more home options for the buyers. 2. Sellers may experience fewer offers. Sellers will see a decrease in the number of people sending offers, and even the strength of these offers could be different. Hence, sellers should prepare extra steps to make more attractive listings to encourage the buyers that these times are the best time to buy a home. 3. Opportunities to shop As mentioned above, we have four times more listings in the New Castle County housing market alone. Hence, buyers are taking more time to shop around New Castle for a home instead of deciding within a minute, mainly because of the rise in interest rates. They are looking for better deals and more value-for-money listings since inflation is getting crazier. In Closing That's it for our monthly housing market update for July of 2022. Suppose you're interested in learning more about the housing market. In that case, whether purchasing a home or selling your own, Loft Realty will continue to be here to give you the most precise details and data about the New Castle County real estate market. And if you'd like to work directly with one of our friendly and trusted agents, you can call Amanda at 302-753-5025. As always, at Loft Realty, we're the difference you deserve.
Reasons Why Delaware Is Your Next Home
Choosing your next home can be a very daunting task. You may be starting a family, looking for new business ventures, or moving to retirement. And you're wondering where's the best place that will suit you and your family's needs. You've come to the right place, as Delaware could be the perfect fit for you! Every year, more and more families discover the beauty of living in Delaware. From the scenic beaches to its high-quality schools, Delaware living is now the hottest topic in town. Whether you love hiking, sailing, biking, walking by the beach, or shopping--you name it, Delaware has it. Delaware's neighborhood is waiting for you if you are looking for a place with low taxes, an affordable cost of living, and access to a wide range of educational and recreational benefits. Here are the top five reasons why Delaware could be your next home. 1. Tax-Friendly Policies Let me tell you this in three words: NO SALES TAX. Yes, you read that right. Delaware is tax-friendly and one of the only five states that enforce zero sales tax. Hence, whenever you shop for groceries or goods, you save more money than other states -- truly a shopper's haven! In addition, property taxes are cheaper in Delaware than in bordering states. And, if you're a first-time home buyer, you may be qualified for a federal income tax credit of up to $2,000! 2. Outstanding Schools When deciding to move as a family, one of the highest priorities is your children's education. You want to ensure that the schools are safe and have access to quality and holistic learning. And this is what exactly Delaware offers: they have excellent and outstanding schools. Delaware offers Computer Literacy and STEAM Learning (Science, Technology, Engineering, Arts, and Math) from elementary to high school. Your children can access bachelor's and advanced degrees at the University of Delaware and other colleges without leaving the state. Hence, you can rest assured that your children will have great opportunities to succeed in their future careers. 3. Vibrant Arts & Culture Delaware is the second smallest state in the USA, but the arts and cultural opportunities here abound. Every Friday of the first month, all museums and art galleries join the Art Loop Wilmington. This self-guided public event brings together art lovers, artists, and curators with featured entertainment. You can also visit the Delaware Art Museum, Winterthur Museum and Gardens, Rockwood Museum, and the Newark History Museum and let them feed your soul and spirit. You will never run out of free festivals and events in Delaware. You can join Wilmington's Clifford Brown Jazz Festival every June if you fancy jazz music, or try the Ladybug Music Festival, a 100% female-fronted musicians and lineup to celebrate women empowerment in music. Truly an arts and culture paradise! 4. Close to Pristine Beaches Delaware may be just under 2,000 square miles, but don't let it fool you. No matter where you live across the state, you may be within 2 hours of travel to Delaware's pristine beaches. Cape Henlopen is the best place in Delaware to catch the sunrise. In case you didn’t know, Delaware is the flattest state in the US, so it sits just above sea level. And Cape Henlopen, along with other beaches like Beach Plum Island and Bethany Beach, perfectly encapsulates the beauty when the Atlantic ocean and Delaware’s land meet. And almost all Delawareans agree that the Bayside Drive on Route 9 is one of the most scenic and beautiful drives in America. One of the highlights of that drive is the Bombay Hook Wildlife Refuge, a haven of migratory birds and untouched nature. If you're looking for a place to live where you are just 2-3 hours away from scenic views, beautiful beaches, and breath-taking sunrises, no other state beats Delaware. 5. Ideal Retirement Destination Retirement is when you reap the rewards of your labor and enjoy the remainder of life. And one of the top retirement destinations that consistently ranks year after year is Delaware. One of the iconic reasons is that on top of the no-sales tax policy, social security is also not taxed as income at the state level. If you are aged 60 and above, you can exclude up to $12,500 from your pension as income. That means you can save more on groceries and your social security money and enjoy your true wealth’s worth. Also, as a grandparent, you want easy access to your children and friends in case they are living in the neighboring states. Delaware is just a few hours away from Washington DC, New Jersey, Maryland, and New York. Hence, retirees can visit family members or invite them on vacation trips, all within a few hours. Find Your New Home in Delaware With Us Delaware is a beautiful state to live in, and you’re just a message away from having your newfound home. So, if you are ready to start your new life here in Delaware, we at Loft Realty are here to serve you. We bring top quality and unmatched service to create a smooth home buying for you. Reach out to us today, and we'll be happy to find you your dream home here in Delaware.
Delaware Housing Market Update: July 2022
The Delaware housing market officially changed as we entered the third quarter of 2022. A few months ago, homes in Delaware were selling hot and quick. But in the last month, homes have been selling relatively not that fast. There's no need to worry. It just means that we have fewer buyers this month than we had just a few months ago. So, let's jump in and look at why this is happening. Last Month Comparison Previously, we got 6.5 showings per listing in the first week of June. In other words, six and a half potential buyers went with a real estate agent to check out the property whenever a home went for sale. Now, that number's down to 4.3 showings per listing as of the first week of July. But here's an interesting angle. We have more homes hitting the market today than we had seven weeks ago. In the first week of June, 108 listings hit the housing market in Delaware. In contrast, a whopping 318 homes hit the real estate market in the last fourteen days. With more than double the listings last month, why are fewer people showing up? The real reason is the rising interest rates, which slows down the demand for these listings. Hence, most people likely took a step back, observing if it's the right time to jump in or wait it out. In other words, we have more listings this month than in June. But, we have fewer people going out to see these properties this month than in June due to rising interest rates. So, what could this mean for you as an aspiring homeowner? 1. Increase in Market Listing Length Homes will sit on the market a little longer as buyers hold their horses during these interest rate hikes. With inflation also at an all-time high, other potential buyers are extra cautious in closing a deal than before. You have more opportunities to check these listings and compare the better options personally. 2. Less Buyer Offers Sellers may receive fewer offers both in their amount and in the strength of the request. Hence, sellers must be extra patient and creative in building a more promising offer that is pleasing to the potential buyers. 3. More Opportunities to Shop With interest rates going up, mortgages are a little bit more expensive to obtain. Thus, buyers will have more time to shop for their home instead of putting in a quick knee-jerk offer on a home they hadn't even seen. Summary The housing market may have fewer showings, but we have more listings than ever that buyers can freely choose now. So if you're interested in learning more about the real estate market, the Loft Team is here to serve you, and we’ll help you with anything about buying or selling a home here in Delaware. We'll be back next month with another monthly housing market update, so make sure you stay updated with us!
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