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Audrey and Frank Serio, CRS

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March Madness and Time To Buy

by Audrey and Frank Serio, CRS

March Madness is always an exciting time of the year.  Any team can, on any given day, beat a higher seeded team.  We have seen this to be true again this year.

 

The excitement and madness could be felt this weekend in the resort.  Visitors and locals alike were celebrating St Patrick’s Day and enjoying March Madness with friends.  Bethany Beach, Fenwick Island, Rehoboth Beach and Ocean City were packed.  While the weather was nice we did have a bit of a marine layer come in to keep a bit cooler than inland but that is part of living at the beach.

 

And living at the beach was what many buyers were looking to do.  While sales have been slow we are feeling more buyer confidence in buying a second home here is the “Quiet Resorts.”  Buyers are discovering that prices are about as low as they are going to go and the interest rates are at historic lows.  Time is now to buy.  We have a good selection of beach homes to choose from and there are good buys to be had.

 

If you have any questions or have been thinking about buying your dream beach home give us a call, Audrey & Frank Serio, CRS.  We can help you find the right beach home for your needs.

 

Audrey & Frank Serio, CRS

REMAX By The Sea

Direct: 302.537.3171

Office: 302.541.5000

Bethany Beach, Delaware

email: frank@theserios.com

Like us at www.FaceBook.com/TheSerios

www.realestatebethanybeach.com

 

Bethany Beach Magician Honored

by Audrey and Frank Serio, CRS

Rich Bloch, prominent attorney/arbitrator and world class magician, was just one of five stage magicians nominated for the coveted 2012 Stage Magician of the Year.  The winner will be announced Sunday, April 1, in Hollywood, California at the Saban Theatre.

 

“I am honored to be considered again and to have fortified my position as the Susan Lucci of magic” Bloch said.  Bloch has been nominated seven times before.

 

Find out when Rich will be performing at the Dickens Parlour Theatre in Millville, Delaware just a couple miles west of Bethany Beach by visiting his website, www.dptmagic.com.

 

Audrey and I wish Rich the best.

Audrey & Frank Serio, CRS

REMAX By The Sea

Bethany Beach Delaware

"Like" us at  www.fb.com/TheSerios

www.TheSerios.com

 

Buy Now! You’ll Thank Me Later

by Audrey and Frank Serio, CRS

Buy Now!  You’ll Thank Me Later

The time to buy is now.  All too often we wait to see what other people are doing before we act.  This is true with buying real estate.  People sit on the fence not knowing if they should buy or not and with all of the negative press real estate is getting in this economy you can’t blame people from holding off buying today.

 

However, there are several reasons why the time to buy is now.  Here are a few;

 

  1.  Great Rates – rates are at a historic low.  Even if there is a slight drop in prices the lower interest rate could level out the price drop and you can enjoy the home now.  A rule of thumb is that a1% in the rise in the interest rate lowers your buying power by 10%.  Therefore if the home you are waiting to buy goes down 10% but the interest rate rises 1% you are still even with buying at today’s low rates.  When the market picks up rates will rise.
  2. Great Inventory – in most markets today the inventory is higher than normal.  This gives a potential buyer more options and opportunities.  As the market picks up the inventory will dwindle and a buyer’s options will be limited.
  3. Seller’s Anxious – when the real estate market is slow seller’s are more anxious to sell and will negotiate more.  This anxiety will go away and the seller’s will become stronger when the market turns for the better.
  4. Less Competition – there are fewer buyer’s in the marketplace creating a stronger negotiating position for those buyer’s that do enter the market.

 

In 1991 I had sent out a post card just like this and those buyers that bought have been good clients ever since and were indeed happy that the did not listen and follow the crowd and made there dreams come true at the right time.

 

The Time To Buy Is Now!

 

Audrey & Frank Serio, CRS

REMAX By The Sea

Frank@TheSerios.com

"Like" us at www.Facebook.com/TheSerios

or Visit or website www.TheSerios.com

 

Your Home Has To Be Sold 5 Times

by Audrey and Frank Serio, CRS

 

In a real estate market like the one we find ourselves it takes more than just to have a buyer come by and purchase your home.  Your home needs to be sold five times before it actually transfers to the new buyer.  Here is why I say that;

 

  1.  Sold to the potential buyer while searching online.  91% of buyer’s today begin their search online.  The buyer searches online not to find the new home but to eliminate those they do not like.  If your home does not have a good online presence with a virtual tour and multiple pictures you may not get a showing to that buyer and your home will be eliminated from their search.
  2. Sold to the local agents.  When times are tough the local agents know where the best buys are and they will be quick to show them to a buyer client.  Therefore is your home is not positioned well on the market against the competing properties the local agents may not include your home in the buyer’s search.
  3. Sold to a Buyer.  Once the buyer finds the home online and is favorably impressed enough to see the home and the local agent believes it to be a good buy you home needs to shine in comparison to the competition so that the Buyer wants to buy it.  The home must show well, free of clutter and priced in front of the competing properties to make it a good value and buy.
  4. Sold to the lender.  Now that a contract is written and the Buyer has found a home they want to purchase the lender becomes extremely important and the Buyer must be ready to show that they can afford the home and that the home is good collateral for the loan.
  5. Sold to the appraiser.  The lender will get an appraisal to make sure that they are making a good decision and they have to be sold on the value when making their report.  A good real estate agent can assist in selling the appraiser on the value by having good comparables to help build value and support the purchase price.

 

As you can see it takes more to sell a home than just having it on the market.  If you have any questions on getting your home sold in today’s market please feel free to contact us at frank@theserios.com or visit our website, www.TheSerios.com.

 

Audrey & Frank Serio, CRS

REMAX By The Sea

Bethany Beach DE

Serving the Quiet Resorts of Delaware for over 26 years!

Bethany Beach • Fenwick Island • Rehoboth Beach

State of the Beach Address 2012

by Audrey and Frank Serio, CRS

                

The 2012 outlook for the real estate sector is not significantly different from the previous outlooks.  The term “elusive clarity” was used two years ago when we had no visibility on fundamentals. Fundamentals stabilized and slowly continued to improve, but the view on potential interest rates moves was then murky. Mr. Bernanke came to the rescue, signaling to the market that rates would remain low for an extended period. And yet, we still find ourselves talking about elusive clarity, now on global macro challenges: a highly-charged election year with the backdrop of stable (albeit tepid) economic growth and job creation in the U.S., the European debt crisis (tune in tomorrow for the continuing saga), and of course, sputtering global economic growth.

 

So long as such significant uncertainty continues, we see:

1. Broader market volatility persisting as our “new normal”

2. Investors remaining focused on capital preservation, staying invested in cash (despite barely-there yield) and trading around already-invested positions rather than investing thematically and possibly taking on more risk.

 

The 5 year analysis of the Sussex County beach real estate market shows the number of units sold is down 13.03% or 1334 units sold from the 1534 units sold in 2007.

 

In the Bethany Beach, Ocean View and Fenwick Island west of the canal areas there was a 5% increase of the number of listings put on the market and an increase of 3% in the number of listings sold.  That being said, the average List Price was down 1%, and the average Sale Price was down 10% to an average of $300,766

 

The beach areas of Bethany Beach and Fenwick Island saw a drop in listings put on the market of 8% for a total of 255 and a drop in number of units sold down 4% to 114.  The average List Price of New Listings was down 11% to $973,454 and on the bright side the average Sales Price was up 35% to $984,597.

 

Current inventory is still high in relation to the number of homes being absorbed by the current buyers.

 

For more information please contact Audrey & Frank Serio, CRS at REMAX By The Sea in Bethany Beach Delaware serving the Delaware beaches of Bethany and Fenwick Island for over 25 years.

Thinking of Remodeling Your Home?

by Audrey and Frank Serio, CRS

Here are 10 Tips to Help Make the Process Easier

Remodeling a home can be a stressful project for a homeowner and during these turbulent economic times more and more homeowners are looking to improve their existing investment and remodel their existing home then to go through the process of buying a new home.

If you are thinking of remodeling your home here are several invaluable tips to keep in mind as you discuss your home make-over with potential contractors.

 

  • 1. Begin With The End In Mind – Know what you are looking to accomplish before you even start your search for a contractor.
  • 2. When can the contract begin and complete the project? – Know your timeframe and make sure that the contractor can meet or exceed your timeframe.  Nothing can be more frustrating than having workers in your home for a longer time period than you expected.
  • 3. Is the Contractor Bonded, Licensed and have the proper Insurance? – Ask the contractor for proof of his license and insurance and from any sub-contractors they may be using.  This could save you from future problems.
  • 4. Check References – Get at least three and determine if the contractor can handle the type of project you have in mind.  You do not want a mason redoing your kitchen if they are not capable.
  • 5. Can the Contractor help with financing?  - Find out if the Contractor has any arrangements for special financing or if they take credit cards to help defer the immediate expense.
  • 6. Will the Contractor get all the necessary permits? – Inquire if the contractor will be the one obtaining the permits or if it will be something that they will require you to do.  Most know the procedures and building codes and it is a lot easier for them to get the permits than you.
  • 7. The Project Clean Up – Question the contractor and the references as to how the workers leave the premises at the end of the day and more importantly at the end of the project.
  • 8. Get It In Writing – If the Contractor is not willing to put the bid/quote in writing and back it up, then you should walk away.  Too many people have been left hanging by a contractor that runs out of money or takes other jobs and puts yours off leaving you helpless or having to hire another contractor to clean up their mess.
  • 9. Manners and Appearance is important – How does the contractor handle themselves?  Chances are if they handle themselves well and have a good presence then you will increase your odds of having a professional job done right the first time.
  • 10. Know Your Own Limitations – This can be a stressful time for a family.  Know if you can handle the inconvenience and stress associated with the remolding.

If you are thinking of remodeling your home in the Bethany Beach or Fenwick Island Delaware areas please feel free to contact us at www.TheSerios.com.  We will be happy to assist you in finding the right people for the job you have in mind.

Courtesy of:

Audrey & Frank Serio, CRS

REMAX By The Sea

Bethany Beach DE

“Like us” on Facebook www.FB.com/TheSerios

 

 

 

 

 

 

Why Hasn't My Home Sold?

by Audrey and Frank Serio, CRS

Why hasn’t my home sold?  Real estate agents all across the country are hearing this from their sellers during these hard market times.  This is the only market we have and the key is to increase your odds in getting your home sold.  There are several ways to accomplish this but it will take a little extra effort on your part and the agent you choose.

 

The marketplace today is loaded with inventory and the tough economy is not helping.  The number of foreclosures and short sales is still high and does not seem to be going away in the next several years.  That is why it is more important than ever to give your home its best shot at getting sold.

 

Here are some tips on positioning your home in today’s market to get it sold;

 

  1.  The Agent You Choose.  All agents are not created equal.  You need to find an agent that is fulltime and knows the marketplace and has the latest tools to get your home sold.
  2. Position Your Home to Sell.  Your agent can guide you here if they understand if they understand the basics of absorption rate and pricing.  Pricing will be vital and your initial market position has to be perfect to get it sold in a timely manner and get you to where you want to go.
  3. Online Presence.  Make sure you have a good online presence.  According to surveys by the National Association of REALTORS® 91% of home buyers start their search online.
  4. Correct MLS Data.  If the potential home buyer is searching for particular features and your home is not coming up correctly in the MLS search your home may not get shown and have the possibility of selling.  This would not only include features but also the mapping of the home.
  5. Great Photos.  Today with the home buyers starting their search online it is essential that you have not only a virtual tour but many thumbnails of pictures of the interior.  The photos need to be clear and give a good impression of the home.
  6. Proper Prose.  Writing to paint a picture to capitalize on the emotion of living in the home is key to getting the showing.  Potential home buyers want to visualize themselves living in the home.
  7. Be Realistic.  When an offer comes in, even if it is low work with the buyer to see if you can find common ground and do not just discount the offer.  In today’s market the old adage of “your first offer is usually the best” has never been truer.

 

These are just a few tips to selling a home in today’s tough economic times.  Audrey & Frank Serio, CRS understand this market and can assist you in getting your home sold in the Bethany Beach and Fenwick Island Delaware resorts.  Contact them today for all your real estate needs.

 

Audrey & Frank Serio, CRS

REMAX By The Sea

Frank@TheSerios.com

www.Facebook.com/TheSerios

Direct: 302.537.3171

302.541.5000

What Today's Home Buyer's Want!

by Audrey and Frank Serio

Remember just a few years ago if you wanted a cupcake you could get vanilla or chocolate and maybe just a few other flavors in between. Now all you see are elaborately flavored and decorated cupcakes. Today, it’s almost that way with buyers. Instead of a reasonably priced and relatively plain home in a nice area, many buyers have eaten one too many fancy cupcakes and want it all. Homes with sprinkles or a sparkler or two are the ones that sell.

 

Today’s most significant buyer’s range from young families to adults between the ages of 31 to 45. These buyers are in full course with their careers and are busy with their growing families and don’t have the time or money to update a house. They watch HGTV and are very well informed.  They also have strong opinions about design features their new home will include. Take a look at some of these items and ask yourself how your home stacks up if you decide to sell.

 

  1. Buyers want a deal! We are in a very price sensitive market and buyers want to know that they are getting the most value for their money. Saying that, Buyers are willing to pay more for homes that are in model home condition but either won’t buy or will discount significantly a home that needs work.

 

  1. Kitchens and Baths Sell Homes!  We know many Sellers do not like granite counters and stainless steel appliances but at this moment Buyers do! Bathrooms with dated tile should be updated and older vanities, sinks, medicine cabinets, hardware and light fixtures should be replaced.

 

  1. Paint is an Easy Crowd Pleaser! Buyers want a house with a neutral palette to help them imagine their own decorating plans. Plain white, however, is mostly out and “Pottery Barn” colors are in. Wallpaper no matter how expensive and dear to a Seller must go as well as dated carpet. And, if you have carpet over hardwood floors, show the hardwoods. They are in and most desirable.

 

  1. Let there be Light! Your brass or crystal Dining Room light fixture is no longer fashionable. Brush nickel and antique bronze are in. And, the overhead light fixtures that you have in your bedrooms and halls for the last 20 years must go. Good news, however, they are relatively cheap to replace.

 

  1. Energy Efficiency! While most buyers won’t pay substantially more for  green” and “energy efficient” improvements, they do want to know what it will cost to heat and cool the house and they do question whether windows, doors, the furnace, air conditioner, and hot water heater have been replaced.

 

  1. It’s Clean Up Time!  Buyers want a clean house. Not just a house where the beds are made and toys are put away but a house with clean windows, baseboards, siding, and refrigerators. Clean carpets, bathrooms, kitchens and flooring are essential as well. 

 

  1. Smelly Houses Don’t Sell!  Any pet odors need to be eliminated, cooking food with strong odors (unless it’s bread or cookies) needs to be avoided, and if you are a smoker, your home will need to be de-odorized and you need to smoke outside-no kidding! If you do plan to sell, do not light any scented candles or install plug-ins. Today many Buyers and their families are allergic and will run out of a house no matter what the smell.

 

  1. Oh Give Me Land!  Buyers want a home with a connection between indoor and outdoor spaces. So even if your lot is relatively small, landscape it, deck it, fence it or do whatever is necessary to create a perception of another wonderful living area, even if that area is used only part of the year.

 

  1. Size Matters! Buyers want more storage space as well as flexibility in the garage. If you have a storage room or area, make it look big by straightening it up and getting rid of anything that you haven’t touched in years or that you don’t plan to take with you. If you have a garage, clear it out so that cars can easily fit in. And if you have a carport, the only thing visible should be your car.

 

  1.  Beauty Counts! Today’s buyers start their search on the Internet and if they are not impressed by the pictures they see, they are not coming in.  You simply don’t get a 2nd chance to make a 1st impression. To help you make your first impression GREAT, call Audrey & Frank Serio, CRS today at 302.537.3171 or visit us at www.TheSerios.com.

Contact Audrey & Frank Serio, CRS for all your real estate needs.

Serving Fenwick Island and Bethany Beach DE and surrounding areas.

Should I Buy a Home Now?

by Audrey and Frank Serio

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 281-289 of 289

Contact Information

Photo of Audrey and Frank Serio, CRS Real Estate
Audrey and Frank Serio, CRS
Keller Williams Realty
33012 Coastal Highway
Bethany Beach DE 19930
Direct: 302.537.3171
Office: 302-360-0300 x 435