Real Estate Information Archive

Are you thinking of selling your beach home?  Well, if it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it's time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you'll need to take care of these items eventually, so do them now to help it sell sooner.

1. Make repairs - it doesn't matter if it's been that way since you bought it. You need to fix it so that the buyer doesn't think that the rest of the house is about to fall apart.
2. Not too personal - you may have bought your home to express yourself but if the buyer can't see themselves in the home for all of your things, it's going to take longer to sell than you want.
3. Drive-up appeal - the old saying "you never get a second chance at a first impression" applies to your home too. They may never even get out of the car to come inside.
4. The nose knows - it may not smell like home but it shouldn't smell like a place they would never consider living.
5. Neutral colors, decor, etc. - these are not decorating tips you'll see in magazines but the truth is that bold colors and designs are difficult for most people to see beyond. They'll imagine their things better in neutral surroundings.
6. Less looks like more - removing some of the non-essential things from your home will eliminate clutter and make the home feel larger. The same suggestion applies to cabinets and closets.

A confused mind will not make a decision. Identify and eliminate items that could derail a potential sale. The preparation you make in the beginning will help the presentation to your buyers.

Audrey & Frank Serio will be happy to visit with you and give you an idea of how to make your home show better and sell faster.  They have been serving the Bethany Beach/Fenwick Island beaches for over 29 years.

Audrey & Frank Serio, CRS

REMAX by the Sea

Frank@TheSerios.com

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The 3.5% down payment on FHA loans could be more expensive for buyers than expected. Beginning April 1, 2013, the mortgage insurance premium will go up by .1% to 1.35% which may not even be noticeable to most would-be homeowners.

The staggering increase will occur on 6/3/2013 when FHA's policy on the duration of the required mortgage insurance will be increased for the life of the mortgage. It basically doubles the amount of total MIP if the loan is paid to term.

Currently, the MIP is required for approximately 9 years 9 months with normal amortization. The new program would require the MIP for the life of the loan. In this example, the initial monthly MIP is $196.88 which decreases based on amortization.

There are buyers that qualify on income and credit who may not have the necessary additional down payment required for 80% and 90% conventional loans. The 3.5% FHA program has provided a great vehicle to get into a home with a minimum amount of cash.

For homeowners that expect to stay in their home for ten years or less, the new changes might not have much financial impact. Homeowners who expect to be in their home long term can refinance with a conventional loan without mortgage insurance once the equity has increased due to amortization and appreciation.

For buyers to avoid these increases, they will need to act now to get the FHA commitment issued prior to these change dates.

For more information on financing options here is the Bethany Beach or Fenwick Island Delaware resorts please feel free to give us a call.  Also. if you would like to have the latest listings that come on the market delivered right to your email box the moment they are listed please click here.

Audrey & Frank Serio, CRS

REMAX By the Sea

The last thing you want to do while you're on a trip is to worry about someone burglarizing your home. Use this checklist to add some peace of mind to your travel plans.

• Ask a trusted friend - to pick up your mail and newspaper and keep the yard free of trash and advertisements.
• Stop your mail but maybe not your newspaper - you can easily handle this online by going to the US Postal Service's Hold Mail Service. A recent story implicated an employee from a major newspaper who was passing customer hold requests to burglars.
• Don't post about your trip on Facebook and Twitter until you return - some burglars actually look for this type of announcement to schedule their activities.
• Do notify police and/or neighborhood watch - especially if you're going to be gone for more than just a few days. Let your monitoring service know when you'll be gone and if someone will be checking on your home for you.
• Light timers make it look like someone is home - use several set for different times to better simulate someone at home.
• Do unplug certain appliances - TVs, computers, toaster ovens that use electricity even when they're off and to protect them from power surges.
• Don't hide a key - burglars know exactly where to look for your key and it only takes them a moment to check under the mat, above the door, in the flower pot or in a fake rock.

Have you ever picked a color from the myriad of paint samples available, put it on the wall and decided that it was all wrong? It shouldn't have to be that difficult but trying to pick the perfect color from those little swatches is just not that easy.

Painters and decorators suggest you buy a small amount of the colors you're considering. Your paint store should be able to mix them in any brand and any color. Once it's on the wall, it will be easy to determine if it needs to be lighter or darker or if it's completely wrong.

Take them home and paint a 2' x 2' area on the wall. If you're concerned about testing the colors on your wall, you can paint some sample boards that can be easily moved around to see how they'll look with the furniture, floors and other items in the room.

Instead of guessing what it's going to look like, you'll actually see how it looks during different times of the day, in natural and artificial light.

While $30 to $40 a gallon for paint may seem like a lot of money, the cost in time and labor to put it on the wall is even more. It's worth taking the time to test the color on the wall before you buy all the paint needed.

If you are thinking of upgrading or renovating your Bethany Beach home feel free to give us a call or email us.  We will be happy to assist you in finding the right people for the job.

Audrey & Frank Serio, CRS

REMAX By The Sea

Direct: 302.537.3171

eMail:  Frank@TheSerios.com

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Pre-paid interest, sometimes called "points", is generally tax deductible when a person pays them in connection with buying, building or improving their principal residence. When points are paid on a refinance, they are not a current deduction but have to be taken pro-rata over the life of the mortgage.

For instance, if $3,000 in points were paid on refinancing a 30 year mortgage, deduction of $100 per year is allowed. When the loan is paid off or replaced by refinancing again or the home is sold and the mortgage paid off from the proceeds, the balance of any un-deducted points may be taken in that tax year.

Your tax professional needs to be made aware of any of these situations so that he can accurately reflect the deduction in your return. Currently, the most common situation is where homeowners may be refinancing their home for the second, third or even fourth time. If there are points that have not been completely deducted, they need to be treated in the year of refinancing.

For more information, see points in IRS Publication 936; there is a section on refinancing in this publication. For advice considering your specific situation, contact your tax professional.

Pre-paid interest, sometimes called "points", is generally tax deductible when a person pays them in connection with buying, building or improving their principal residence. When points are paid on a refinance, they are not a current deduction but have to be taken pro-rata over the life of the mortgage.

For instance, if $3,000 in points were paid on refinancing a 30 year mortgage, deduction of $100 per year is allowed. When the loan is paid off or replaced by refinancing again or the home is sold and the mortgage paid off from the proceeds, the balance of any un-deducted points may be taken in that tax year.

Your tax professional needs to be made aware of any of these situations so that he can accurately reflect the deduction in your return. Currently, the most common situation is where homeowners may be refinancing their home for the second, third or even fourth time. If there are points that have not been completely deducted, they need to be treated in the year of refinancing.

For more information, see points in IRS Publication 936; there is a section on refinancing in this publication. For advice considering your specific situation, contact your tax professional.

If you are thinking of buying or selling a home in the Bethany Beach or Fenwick Island Delaware are please feel free to contact Audrey and Frank Serio.  They will be happy to assist you in finding the right beach home for your needs or make the selling of your beach home a smooth transaction.

To get the latest new beach listings, with no obligation, as they hit the market go to www.ListingUpdate365.com.  See the newest listings first.

Audrey & Frank Serio, CRS

REMAX By the Sea

Frank@TheSerios.com

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After most families essential expenses are met there is usually very little discretionary cash remaining for those special items people want to save for.

A relatively small investment in a rental home can control a good home that will easily rent, generate positive cash flows and pay for itself. The borrowed funds create leverage that earn a return on the total value of the home and not just the amount of cash you have invested.

The strategy is simple. Find a slightly below average priced home that will rent well. It will appeal to a larger group of people while it's rented and when it's ready to be sold.

Rent the home and maintain its condition over the years. As the loan amortizes and the value increases, the equity will grow. When your student is ready to start college, you'll actually have several options.

You can sell the property; pay the tax on the gain at the reduced capital gains rate and fund the education. Another option would be to refinance and take the proceeds to pay for the tuition. This would allow you to continue to own the asset but would free your equity and under current tax laws is a non-taxable event.

Regardless of whether you're trying to plan for your children's education or your own retirement, rental property offers many solid investment opportunities. Contact me if you want more information on homes in the Bethany Beach or Fenwick Island resort area or sign up to receive free, no obligation updates as new listings hit the market at www.ListingUpdate365.com.

Audrey & Frank Serio, CRS

REMAX By the Sea

Bethany Beach DE

www.TheSerios.com

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Date: 6/23/2012
Time: 10:00 AM TO 12:00 PM

31750 Lake View Drive
Selbyville, DE 19975

Phone:
302-436-3015

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Event Description: Gary Lloyd tells tales that buzz in your ears while answering the question, “Two bees or not Two bees?” His enthusiasm shows his love of his craft and his respect for his audiences. Gary has now told stories to over 850,000 listeners of all ages in 8 states. Gary won a national level award for his telling, but truly savors the comments he gets all the time from children and adults who rediscover just how fun and powerful storytelling can be. Wear yellow and black for a special present! Free!
Directions:
The Freeman Stage at Bayside is located just 4 miles west of Fenwick Island, DE at the intersection of Route 54 and Route 20. Turn into the Bayside community and proceed straight on Americana Parkway. The Freeman Stage is located on Town Lake at the intersection of Americana Parkway and Lakeview Drive.

Audrey & Frank Serio, CRS

REMAX By the Sea

"Like" on Facebook www.Facebook.com/TheSerios

To receive no obligation updated listing information got to ListingUpdate365.

Broadway at the Beach

Date: 6/22/2012
Time: 7:00 PM TO 9:00 PM

31750 Lake View Drive
Selbyville, DE 19975

Phone:
302-436-3015

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Event Description: Broadway at the Beach! Clear Space Theatre Company’s electrifying ensemble of talented performers comes together to create this all-new revue of contemporary and pop/rock hits from musical theatre repertoire. From classic rock musicals like “Hair” and “Jesus Christ Superstar,” to blockbusters such as “Les Miserables” and “Wicked” and contemporary hits like “Rock of Ages” and Green Day’s “American idiot,” Broadway at the Beach is packed with all of the infectious irresistible showtunes we know you want to hear! $10 • Kids are free
Directions:
The Freeman Stage at Bayside is located just 4 miles west of Fenwick Island, DE at the intersection of Route 54 and Route 20. Turn into the Bayside community and proceed straight on Americana Parkway. The Freeman Stage is located on Town Lake at the intersection of Americana Parkway and Lakeview Drive.

Audrey & Frank Serio, CRS

REMAX By the Sea

"Like" on Facebook www.Facebook.com/TheSerios

To receive no obligation updated listing information got to ListingUpdate365.

Date: 6/17/2012
Time: 8:00 AM TO 11:00 AM

215 Hollywood Street
Bethany Beach, DE 19930

Phone:
3025397700

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Event Description: All you can eat breakfast for the entire family. Adults $10, children $5 and toddlers free. Eggs, french toast, bacon, sausage, potatoes, muffins, juices, coffee, etc. Tour the firehouse. Children can sit inside a real fire truck. Coloring books and crayons for the kids too. Plus T-shirt sales and much more. For more information/contact: Beach Volunteer Fire Company at 302-539-7700 or visit us at www.bethanybeachfire.com.
Directions:
Route 1 and 26; Bethany Beach, DE
 

Audrey & Frank Serio, CRS

REMAX By the Sea

"Like" on Facebook www.Facebook.com/TheSerios

To receive no obligation updated listing information got to ListingUpdate365.