34495 SKYLER DR, Lewes, De 19958 | $423,070

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Property Details

Build the home of your choice with Schell Brothers! Six models available for this lot and home package on Lot #60!! Upscale community, community pool, tennis court and fitness center in a 6,000 square foot clubhouse!! (Whimbrel Model featured in pict
  • MLS Number: 608924
  • Status: Active
  • Price: $423,070
  • Property Type:
  • Area: Indian River Hundred
  • Community: Villages At Herring Creek
  • School District: Cape Henlopen
  • Square Footage: 2,137
  • Bedrooms: 3
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Number of Stories: 2
  • New Construction: To Be Built
  • County Taxes: $308
  • Association Fee: $1,296
  • Furnished: No
  • Lot Dimensions: 102x198x102x198
  • Lot Size Acres: 0.46
  • Lot Description: Cleared
  • Water: Public Central Water
  • Sewer: Private Central Sewer
  • Community Amenities: Cable TV, Community Center, Fitness Center, Tennis - Outdoor, Pool-Inground, Pool-Outdoor, Rec Center

Interior Features

  • Fireplace: Other See Remarks
  • Heating: Heat Pump(s)
  • Cooling: Heat Pump(s)
  • Flooring: Carpet, Laminate

Exterior Features

  • Style: Coastal
  • Construction Type: Stick/Frame
  • Exterior Type: Vinyl Siding
  • Roofing: Architectural Shingle
  • Foundation: Concrete Block
  • Garage: Other See Remarks
  • Garage Size: 1
  • Parking: Driveway/Off Street

Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH

Lewes Readers find Real Estate Opinions Unanimous Almost Real

 

Lewes’s real estate picture usually differs little from that of the nation as a whole. The latest rumblings from the mass media and web continue to bolster the picture of rising values and quickening activity—a sweet story with nary a sour note. In fact the unanimity of voices from almost every corner of the country is a story in itself. There was just one exception.

Some samplings Lewes readers would have found in the past week’s real estate news and opinion—

  • From the Associated Press, we learned that “prices are soaring” in some cities, and that they rose in all 20 cities polled. The pace of existing home sales rose to the “fastest pace since February 2007.”—roughly what might be expected in a healthy housing market. The AP attributed at least some of the reason for the real estate price rises to widespread predictions that the Federal Reserve may start raising short-term interests rates sooner rather than later.
  • From Dan Green’s Mortgage Reports, the home value increase was illustrated in a multi-colored chart, which showed sample cities’ rises at anywhere from 1%-11%—with most clumped between the 4%-6% lines. Freddie Mac was quoted as pegging the average 30-year mortgage rate at below 4%, with VA and FHA mortgage rates even lower. Their opinion was straightforward: “It’s an inexpensive time to finance a home.” Since historically “mortgage rates average nearer to 8:25%,” that opinion is hardly a stretch!
  • Headlines from CoreLogic’s latest Home Price Index Report were “Home Prices Rose by 6.5% Year Over in June 2015” and “HPI Forecast Projects 4.5%” rise for the coming 12 months. CoreLogic’s nationwide real estate numbers are among the most reliable—whereas some of the government numbers sometimes have to admit regular later revisions, it’s not usually the case for them.
  • Surprisingly, town observers would have had to go to the National Association of Realtors® site to find what at first sounded like the only sour note to be heard—yet it, too, had a sweet finish. “Pending Home Sales Dip in June” headed the last week’s news release. You had to read the fine print to learn that the pending sales were 8.2% higher than a year before, and that although they dipped slightly from May’s number, they were still the third highest reading in 2015…and marked the tenth consecutive monthly year-over-year increase!

Strengthening real estate prices have continued to bolster a solid summer selling season. If you are interested in exploring the Lewes market as a prospective buyer (or as a seller), the climate continues to be inviting. Good reason to give me a Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com.

Coming Decision Could Affect Lewes Mortgage Interest Rates

It’s really as simple as this: when Lewes mortgage interest rates are low, good things happen in Lewes real estate. And last week, when The Washington Post commented on the news coming out of Washington, it indicated exactly that. “Mortgage rates fall for the third week in a row” was the headline summarizing the latest data from Freddie Mac. It was good news—but there were also new grounds to wonder how long it was going to last.

One of the key reasons for the strength of Lewes’s residential market has been shown in the ‘affordability’ index, which gives a numerical answer to the question every prospective local home buyer understands: can I afford it? The index uses a number of economic factors to come up with the answer to whether typical families can afford the monthly cost of a typical home. Of course, it all revolves around what that monthly cost actually is. For local buyers, that cost rises and falls along with Lewes interest rates.

So the latest figures once again signaled smooth sailing. Nationally, Freddie Mac reported that the 30-year fixed-rate average had ‘slipped’ to 3.93%. Anything less than 4% is, in historical terms, really low. As homeowners who were around at the start of the 1980s will tell you, when mortgage interest rates climb into double digits, the monthly payment amounts grow so steep the whole market is hamstrung (in 1981 and 1982, mortgage interest rates averaged north of 16%!)

That’s the reason why anyone who is even beginning to lay plans to buy or sell knows their budget will be affected by the direction Lewes interest rates head. Consulting expert opinion hasn’t helped much over past few years, either. Most seers have been predicting a rise in rates for quite a while. They’ve been consistent (in being wrong).

Nevertheless, at the end of last week it looked increasingly likely that their expectations might finally be met—and soon. Federal Reserve’s Chairman Yellin has been issuing statements that indicate a bias toward raising Fed rates, if the economy can sustain them. On Friday, the latest labor reports were widely hailed as indicating the kind of strength that she had been talking about. The year’s final Fed meeting will take place on December 15-16. If they do raise the benchmark federal funds rate, Lewes mortgage interest rates will certainly follow. The real question on both fronts was how much…

When you decide to buy or sell a home, Lewes mortgage factors are important, yes—but they are only some of many considerations. One factor that won’t change is that I will be standing by, ready to help on all fronts! Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com