All About Delaware Real Estate

By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Now is an excellent opportunity to purchase a home. With interest rates dropping from the summer highs and sellers more willing to negotiate on concessions, it's the perfect time to take advantage of the market and invest in a property. Not only can you save money on your mortgage payments, but you can also benefit from the potential for increased equity in the future. Plus, owning a home can provide a sense of stability and security that renting can't. So, if you're looking for a long-term investment, now is the ideal time to buy a house.  People flocked to purchase a house during one of the most challenging times in history. Although interest rates were incredibly low, it was the only advantage buyers had.Competition was intense, as there were far more buyers than available homes, mak...
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By Seesan Ed, The Best Mobile Notary & Apostille Agent In DE
(206 715 1642)
If you are getting ready to travel to another country or need your documents legalized in the United States, that task can be challenging especially when you have other things needed to get done and deadlines to meet before you go, things such as learning a new language, adopt to a new environment, new culture etc.  When it comes to 'document legalization' process it can also involve Apostillization at the state level, Authentication at the Federal level and the Embassy level. Every county and state in the U.S. and Embassies located in the USA have their own set of rules and regulations. To ensure you have a seamless process you must get all your important documents apostilled through an expert agency. Document legalization is mandatory for all immigrants or people who intend to live ab...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Winter has begun in Northern Delaware. We don't get lots of snow storms but the ones we get can be doozies.Knowing how to deal with snow is a must if you want to protect your home this winter—and that includes understanding what snow-related mistakes to avoid.So what, exactly, are those mistakes? A recent article from realtor.com outlined snow removal mistakes homeowners tend to make during the winter months, including: Not cleaning gutters or downspout drains. If your gutters are congested, snow melt can’t drain properly. If temperatures drop, that melting snow can freeze—and as the ice expands, it can break your gutter or downspout material (or, in severe cases, rip the gutters off your home completely.) To avoid this issue, make sure to regularly clean your gutters.  Not removing sno...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
While it’s exciting to start thinking about your home purchase process, after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan.  Don't switch jobs.  Even moving to a new company with a higher paying position can be a hurdle that can makes it more difficult to get approved.  Unless there is change that you have no control over, stay put until your loan is closed.  Don't deposit large sums of cash into your accounts without consulting your loan officer first. Cash is not easily traceable, so it is important to discuss the proper way to document your transactions. Anything other than paychecks and government payments in most cases need to be traced to...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
If you’ve been thinking about selling soon, you’re probably leaning toward doing so when the spring market rolls around, since it’s often considered the best time of year to sell a house. However, you might want to reconsider what constitutes the “best” time for you to sell your house.It’s hard to qualify any specific time of year as the best time to sell, but spring probably gets ranked highest more so because it’s when more people tend to list their homes, and more buyers tend to look for a home. But that doesn’t mean it’s the most strategic time to sell yours.In fact, listing your house well ahead of the official start to the spring market could be the most strategic thing you do in any market, but even more so given the current market conditions. Let’s take a look at 8 reasons you s...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
If you’re considering purchasing a rental property, here’s the good news: they can be a great investment. But they can also be a lot of work, and some homeowners don’t have the skills or desire to put in the work necessary to both take care of their property and ensure it brings in steady income.  That’s where property managers come in.A good property manager can bring a ton of value to rental property owners, so if you’re considering buying a rental property, you may also want to consider hiring an experienced, trustworthy property manager.But what, exactly, do property managers do—and how does that help the property owner?A recent article from realtor.com outlines some of their main responsibilities, and the value they can deliver to property owners, including:   Market your property....
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Selling a house isn’t something most people do on a regular basis, so it’s easy to make mistakes that can cost you time and money.While your real estate agent will be able to guide you through the entire process and help you avoid those mistakes, it helps if you come into the process and relationship with your agent knowing a thing or two.Here are 14 real estate tip memes to help you gain some valuable insight ahead of time, and help you sell your house quickly and for top dollar!1.2.3.4.5.6.7.8.9.10.11.12.13.14.    Get Your FREE New Castle County Home Value Now!   Christopher PatakiRealtor, RE/MAX Associates - Hockessin Phone: 302-562-0628 Office: 302-234-3800 License: RS-0019092, Delaware Contact Me   Special Financing Northern Delaware Home Selling Guide Northern Delaware Home Buying...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
There are a few different scenarios for homeowners that are struggling to make their mortgage payments or are “underwater” on their homes (and owe more than what it’s worth)—including short sales and foreclosures.But what, exactly, are short sales and foreclosures, and what’s the difference between them?A recent article from realtor.com answered key questions people have about short sales and foreclosures, including:   What is a short sale? A short sale happens when a homeowner’s mortgage is higher than the market value or sale price of the home when they want to sell; in other words, they’re “short” on what they owe. In a short sale, the lender agrees to settle the debt for a lower amount than what’s due on the mortgage—and the home is then listed for sale through a real estate agent. ...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
At this point everyone knows not to fall for the email from a Nigerian prince promising to share his fortune with you if you just send him your banking information. After all, that scam has been around almost as long as the Internet has existed, and most people have seen it at least once!But people don’t buy or sell a house all that often, so real estate scams and shams can be easy to miss to the untrained eye.So let’s take a look at 5 things you should be leery of as a homebuyer or seller that may be an outright scam, or just something that’s not quite as promising as it may appear to be, so you know what to look for and can avoid them. 1) Asking you to wire escrow or closing cost moneyWhen you buy or sell a house, there’s a good chance that a title company or attorney will be handling...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
When you buy a home, you want it to retain (and, ideally, grow) its value over time.But how, exactly, do you determine if a home you’re considering purchasing will deliver a return on investment (ROI)—or lose its value in the coming years?A recent article from realtor.com outlined elements that typically help homes retain their value in the long-term, including: Classic home design. Homes with a classic, niche design style—like a Colonial, Victorian, or American Craftsman—are timeless. Thanks to their unique design, quality, and high-end craftsmanship, these types of homes are more likely to retain their value over time (particularly when compared to more “cookie cutter” homes).  A single-story layout. Whether because of age, accessibility issues, or preference, some people can’t or don...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
The market is changing in Northern Delaware. While bidding wars, sky-high prices, and homes flying off the market were a reality just a few months ago, rising mortgage rates, changing economic conditions, and increasing inventory have caused a serious shift in Delaware home sales.And if you’re selling your home, it’s important to operate under the conditions of the market the way it is now, not the way it was last year or a few months ago.So what, exactly, does that look like?A recent article from realtor.com outlined some of the widely believed rules about selling a home in today’s market that are no longer true (and that you’ll definitely want to consider breaking!), including:  Pricing your home as high as you’d like. There was a time when sellers could virtually put any price tag on...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Despite the Federal Reserve's best efforts to reduce inflation, the most recent data indicate that it is still high, hovering around 8%. The stock market was affected by this information, and discussions about a recession gained momentum.As you watch the price of goods and services rise, you're probably already feeling the effects in your day-to-day existence. Should I continue purchase a property at this time given the strain it's putting on my pocketbook and the oncoming economic uncertainty? Here is what you need to know if that is the burning question on your mind.Owning a home has historically been a fantastic inflation hedge.Prices generally increase in an economy that has inflation. Owning a home has historically been an excellent way to protect yourself from those rising prices ...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Marcia Castro Socas has been a landlord for years.She says the landlord-tenant relationship is an often-overlooked part of owning rental real estate.She says buying the cheapest place isn't always best, and the news shouldn't dictate your plans.One of my biggest financial goals is to invest in real estate. I've always wanted to own a handful of properties, all around the country, that I rent out to tenants as a way of making passive income. While I'm years away from being in the position to buy my first investment home, I'm doing what I can to understand how the whole process works.In addition to finding out how much cash I'll need for a down payment, renovations, insurance, taxes, and to cover fees before a tenant moves in, I'm also eager to find out what else I should know before I en...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
The playbook for selling a home needs a makeover, and often so do the houses.Selling a house takes much more elbow grease than it did a year ago. Homeowners earlier could expect a bidding war the moment they staked the for-sale sign in the front yard, even if the property was in dire need of updating.  With mortgage rates now pushing 7%, buyers are harder to come by and easier to turn off, real-estate agents say. Making repairs or even small cosmetic improvements that buyers care about could make the difference between getting your asking price or giving a discount.Between mid-July and mid-August, about 95% of home sellers made updates or repairs before listing their properties, up from 71% of sellers six to 12 months ago, according to Realtor.com. They spent an average of $14,163.  Not...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
“Even though asking prices are still climbing, [recent] data shows that more sellers overreached what buyers were willing to pay, and had to reduce their asking price,” says Realtor.com® Chief Economist Danielle HaleThe thing is, many home sellers haven’t gotten the memo yet. Or they have, but are in denial, hanging on to some long-shot hope that their property may still find some buyer willing to pay a sky-high price. Since so many home sellers are clinging to the past, real estate listings are rife with rip-offs these days.No buyer, of course, wants to overpay for a property. But how can you tell if a listing is overpriced? We’re here to help, by highlighting five red flags that a listing has “rip-off” written all over it—plus how to persuade sellers to graciously let go of that pie-i...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Renovating your home is a great strategy for homeowners for two reasons. The first, and perhaps the most obvious, is that you are able to remodel your home to exactly the way you want it, giving your living space a new life with all the modern amenities and conveniences at your fingertips. The second reason, however, is resell value.It's not always easy to know how much a renovation is worth to your bottom line, though. Simply tacking on the cost of renovations to your sale price won't cut it most of the time, so we put together this handy list of how much ROI (return on investment) you can expect from the various different types of renovations.One note before we dive in: All of the figures we present here are meant as national averages. Of course, your specific neighborhood and housing...
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By Carolyn Roland-Historic Homes For Sale In Delaware and S. Chester County PA, Carolyn Roland, GRI, CRS
(Patterson-Schwartz Real Estate)
After years of wondering what was hidden behind the civil war cannons south of Newark, Delaware, I finally got a spot on a tour of the Cooch's Bridge Historic Site.  The homestead and 10 acres were donated to  the State Division of Historical and Cultural Affairs a few years ago by the Cooch family. The 1769 house has been owned by the family since it was built, and being Delaware, I have been acquainted with a couple of them for years.  It was the site of the Sept. 1777 Revolutionary War battle (details here). There is a lot of conserved land still owned by the family and farmed by tenant farmers.  The homestead still contains many original outbuildings in addition to the stucco over brick home (large picture is river facing side of house) on the Christina River (the land is heavily wo...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
In a market that’s shifting as fast as it is today, many homeowners wonder what, if anything, needs to be renovated before they sell their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – do before selling your house.Here are some considerations a professional will guide you through.What You Need To Know About Your Local MarketSince the supply of homes for sale has increased so much this year, today’s buyers have more options than they had last year. That may mean you’re not able to ignore some of those repairs or cosmetic updates you could have skipped in previous months. As a recent article from realtor.com says:“To stand out in the market, sellers should mak...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
 The home inspection can be a particularly stressful part of the home buying process for buyers, but the equally anxious seller might be waiting with bated breath for the results as well. The buyer is typically responsible for scheduling and paying for the home inspection, but if the house is revealed to have major defects, a new negotiation period begins for corrections, credits or losing the sale altogether.“When selling a home, one of the most nerve-wracking parts of the process is waiting to see the outcome of the home inspection,” says Mallory Micetich, home care expert at Angi.Home inspection issues like wood destroying insect or mold damage can mean the seller will have to shell out money, credits, or concessions to make things right with the buyer. If the buyer is truly turned o...
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By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
Moving is both exciting and stressful. You’ll be so relieved once you’re all settled inside your new home, but there is so much work to do before that point. It can be helpful to have a checklist that lists all of the places where you’ll need to change your address.Doing so will ensure that everything arrives at your new home rather than being shipped to your former place of residence. Here are the key areas to pay attention to when changing your address.The post officeThe easiest thing to do is change your address with the U.S. Postal Service. That way, if you forget to change your address anywhere else, the forwarded mail will still get to you for a few months at the very least. Visit the USPS website to make your change online.The IRS & Local Tax AuthoritiesYou’ll also need to change...
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