0 Charlottetown Way (HATTERAS), Lewes, De 19958 | $394,900

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Property Details

Today's Incentive: Save $20k of the base price and $5K towards closing! Base price includes lot cost. Premiums may apply. An amenity-rich resort lifestyle for minimal cost. The gated community of Coastal Club is Lewes' first community filled with fu
  • MLS Number: 725512
  • Status: Active
  • Price: $394,900
  • Property Type:
  • Area: Lewes And Rehoboth Hundred
  • Community: Coastal Club
  • Square Footage: 2,281
  • Year Built: 2017
  • Bedrooms: 3
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Number of Stories: 2
  • Unit Floor Number: 1
  • New Construction: To Be Built
  • County Taxes: $1,300
  • Association Fee: $2,796
  • Furnished: No
  • Lot Size Acres: 0.00
  • Lot Description: Cleared
  • Water: Public Central Water
  • Sewer: Public Central Sewer
  • Community Amenities: Bocce Court, Community Center, Fitness Center, Gated Community, Jog/Walk Path, Pool-Outdoor, Tennis - Outdoor

Interior Features

  • Kitchen: Breakfast Bar, Island
  • Heating: Forced Air, Gas - Natural
  • Cooling: Central A/C
  • Flooring: Carpet, Hardwood, Tile
  • Attic: Access Only
  • Security: Gated Community
  • Appliances: Cooktop, Dishwasher, Disposal, Exhaust Fan, Fridge w/Ice Maker, Garage Door Opener, Oven-Self Cleaning, Washer/Dryer Hookup Only, Water Heater Tankless
  • Interior Features: Bedroom-Entry Level, Cable TV Prewired, MBED-Full Bath, Walk-In Closets

Exterior Features

  • Style: Townhouse
  • Construction Type: Stick/Frame
  • Exterior Type: Vinyl Siding
  • Roofing: Architectural Shingle
  • Foundation: Concrete Slab
  • Garage: Attached
  • Garage Size: 2
  • Parking: Driveway/Off Street, Garage
  • Porch/Deck/Patio: Balcony(s), Porch - Front
  • Exterior Features: Irrigation System

Listing Courtesy of OCEAN ATLANTIC SOTHEBY'S INTL REALTY

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.

Obvious (and Less Obvious) First House Buying Tips

For Sussex County renters who are beginning to investigate the possibility of buying a first house, the prospect can look like more than just a steep hill to climb—it can look more like a cliff! Just last month, the Daily Real Estate News cited recent research that indicates in most places (512 counties surveyed, in fact) it can take the average family more than twelve years to save up for a 20% down payment. When you consider the significant financial advantage that a first house brings its Sussex County owner, the situation seems like a Catch-22. How can you save any faster when that big tax advantage goes only to the existing homeowners?

If a decade-plus wait sounds unreasonable, there’s a lot you can do to trim the delay—

1) (Obvious) Cut excess spending

If you take notes for a month or so about how you really spend your money, you find that the little things really add up: morning coffee, daily lunches, planned and unplanned shopping expeditions all put serious dents in your wallet. Spot the expenditures, you can cut back on, then reduce or eliminate them as soon as possible.

2) (Less Obvious) Create a ‘First House’ account

Create a separate savings account with the single purpose of holding your first house down payment. Watching it grow month by month will more than make up for the inconveniences caused by scrimping on daily and other spending.

3) (Way Less Obvious) Pick up extra work

You may never have considered it, but sometimes moonlighting is a great way to add additional income that quickly build your First House account. If you have a hobby that lends itself to web sales, think of starting a store on sites like Etsy or Amazon.

4) Reduce your current bills

There are those bills that you can't quite get rid of -- cell phone, credit cards and other bills don't just go away because you're saving for a new Sussex County house. For some bills, though, there are options for slimming down your monthly payments. Try negotiating a lower APR or reducing your phone or cable plan.

5) Make (and stick to) a budget

Those notes you made up there on 1) can be the raw material for making a detailed budget that separates necessary expenditures from extras like gifts, trips and special nights out. Find creative ways to entertain yourself and get together with your friends. Hosting movie nights, finding free concerts, and moving cocktail hour to home are all surprisingly doable.

7

) Downsize

It may seem counterintuitive: why would you decrease the size of your current digs? If you can temporarily scale back, the lowered rent can materially boost your savings. If it’s at all practical, living with relatives might move the process along even more quickly!

The kind of scaling back that builds for a local first house down payment is a lot more fun if you can see quick progress. And the possibility of qualifying for a smaller than 20% down payment is also currently increasing. Give me a call for a realistic discussion of your own Sussex County first house purchase!