Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
Remember the good old days, when most people could depend on staying in the same job in the same community for an entire career? Okay; the truth is, I don’t actually remember any time like that—but I do remember watching TV shows about it... The truth is, as with so many other facets of 21st Century life, sudden career upheavals that cause a Lewes citizen to undertake an abrupt relocation are fairly common today. And accelerated timing requirements can make the situation more intense.
Even without that added obstacle, familiarity with the ins and outs of practical relocation is one of the most valuable assets you gain access to when selecting an experienced Lewes Realtor®. Especially when a relocation is in your immediate future (even if it’s a future that became apparent without a lot of warning), the reality of having to deal with the mass of details accompanying both moving out and moving in can seem like a huge gray, angry-looking cloud hanging overhead.
Just getting a handle on the details can go far to remove the mystery and dispel anxiety. A short list of the elements that need to be determined and coordinated are:
a. Professional and school requirements
b. Transaction imperatives in both communities
c. Moving and storage details
d. Utility requirements
Once a timeline is determined and a To Do checklist assembled, it will be possible to stay on top of the process. Most importantly, it will help highlight those details that seem to be falling behind— allowing them to get extra attention. Staying abreast of relocation details is the single most important keys that will lead to a smooth outcome. It’s one of Murphy’s Laws that, come moving day, any detail that has been put off until the last minute is likely to cause foul-ups of one kind or another. For instance, if the electric service wasn’t notified far enough in advance, count on the move taking place on the hottest day of the year. Unpacking cartons and moving furniture around without working air conditioners is a memory best avoided!
Any relocation is a challenge that requires a welter of decisions in areas that fall outside what people encounter in everyday living. Fortunately, it’s a challenge that your Lewes real estate professional encounters regularly. Help with practical relocation to (or from) Lewes is just one of the areas of practical expertise that is yours to tap into when you put an experienced Realtor on your team.
The days when most Americans expected to stay in the same community for a lifetime may be fading from memory, but being able to rely on your Lewes real estate professional to help master some of the most challenging upshots is still here. They may say that nostalgia isn’t what it used to be, but that shouldn’t stop you from giving me a call, anytime! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestate.com.
In conjunction with the rise in house prices, the profit potential for flipping a home in Sussex County is once more drawing the entrepreneur-minded.
Flipping a home is the process of purchasing a property—often one in a rundown condition—then improving its value and reselling it for a quick profit. Quick is the key word in this strategy, since a fast turnover allows capital to be devoted to purchase and renovation rather than operating and maintenance costs. It’s why successful house flippers generally focus on quick gains over maximizing profits.
While this has proven to be a lucrative strategy in the past, financing has always been the first major hurdle for anyone flipping a home in Sussex County. If you’ve been noticing some of the inviting house-flipping prospects in Sussex County, several financing routes sometimes make such a deal possible:
Larger Down Payment
Flipping a house in Sussex County in the current lending market will often require a significant down payment. Since launching the project might require at least 25 - 40% for financing, it’s essential that you prepare sufficient cash reserves to complete the renovations envisioned—and successful house flippers suggest you add 20% to the cost estimate!
Seller financing—a mortgage provided by the home owner—is also called a ‘purchase money’ mortgage. Sellers may be willing to provide financing if they have had trouble selling their property, which is often the case when a Sussex County home flipper believes its value, can be greatly enhanced by repair or remodeling. Seller financing would be more common were it not necessary that the original owner own the home outright.
Hard Money Loan
Hard money loans—also known as short-term bridge loans—are another common source of financing for flipping a home in Sussex County. Hard money loans are backed by the value of the property rather than the credit record of the borrower, and typically feature a lower loan-to-value ratio than found in a bank mortgage. The added risk has a cost: expect to provide a large deposit and a premium for the loan (often 8% or more).
While sub-prime mortgages may no longer be as readily available as they once were, there are still multiple sources of financing for entrepreneurs who can spot profit possibilities for flipping a home in Sussex County. With real estate prices continuing to rise, this spring again holds promise in the house-flipping arena. Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.