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19930 : Real Estate Advice

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  • Home Buying0
  • Home Selling0
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Activity 4
Mon Feb 10, 2014
Mike Kwiecien answered:
True. Many of the Lots in Bethany Beach West of Rt 1 have been on the market for a while. As a Builder I do see potential for Lot/Home packages that can be completed with equity based on the Bank's final appraisal. ... more
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Sun Dec 30, 2012
Scott Godzyk answered:
I sure do, it is a great tool to add to one's marketing program
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Sun Dec 30, 2012
TheOldfatherGroup answered:
It all depends on the property but homes are selling at all price points in Bethany Beach and we appear to be in a stabilizing market. We recently had bids on an ocean side listing from a cash buyer who missed out on an Ocean Front property that had multiple offers. In short the market has changed dramatically since 2009.

Warm Regards,

Dustin
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Thu Aug 25, 2011
answered:
This question gets asked every few months, and I will say the same thing I have been saying for years. If you would have asked me this question in 2002 or 2003, when rates really started to drop, I would have told you that the next year they would be back up to 8.5%. Every time I say that they can't drop any more, they do.
For those who quote 2.75%, that is on a 5 year ARM, so I wouldn't want people thinking that is the way to go, and it can be very dangerous for the wrong person.
I have someone right now who I am refinancing into a $900,000 10 year fixed (not a 10/1 ARM) for 3.5% with very low closing costs. He wanted to know why would a bank go that low? You can see the answer in Ron's response, the banks are paying 1.5%, or less, on deposit money. So, who's getting the good deal? And, they are getting all their money paid back in only 10 years.
... more
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