The Terranova Team

  When you’re selling your home and offers start coming in, it can be appealing to accept the highest offer and move on. To begin learning how things can become complicated if a bidding war gets too out of control in a seller’s market, let’s go over what Delaware home sellers need to know about the appraisal gap: Determining Your Home’s Appraised Value It’s common for someone unfamiliar with the operations and terminology of the real estate world to quickly get confused, or make inaccurate assumptions. For instance, you will often run into both buyers and sellers who believe an appraisal is the end-all and be-all way of establishing the value of a property. While an appraisal is a service performed by a trained professional as a way of finding out the value of a property, that doesn’t mean the resulting value is exactly what someone should pay for your home.  This is where we bring in another important term: market value. The app...

  Having a regular location that acts as your personal getaway can be a welcome light at the end of the tunnel. To help you decide which type of vacation living works best for you, let’s look at how to know if you should buy a timeshare or vacation home in Delaware. Purpose and Usage The first step on this journey is figuring out what you’re looking to get from your vacation experience. Are you planning to stay there for prolonged periods of time, effectively living there for an entire summer? Is the idea to have a weekend vacation getaway from time to time by yourself or with a small group of family and friends? Finding what suits your needs starts by determining what those needs may be. Someone doing short stays will get more bang for their buck with a timeshare, whereas another individual staying for weeks or months at a time would be better off with a vacation home in Delaware. Initial Investment It should come as no surprise that there are often large d...

  Tragedy and loss are a part of everyday life, and it’s common for a loved one to relinquish property rights to their next of kin in the event of their passing. If you have recently found yourself in the midst of needing to learn how to sell your inherited property in Delaware, we have some tips to help you along the way. Secure the Property The first step when you want to sell your inherited property is to acquire the legal rights to it. If your loved one had a will, it may clearly define who owns the property. There is a chance that your ownership in the property will be split across multiple individuals. In this case, everything may require some discussion before any final decisions can be made. Once all property rights have been firmly established, only then can you and any other owners move onward with the sale of the home. Hire an Agent While we would usually suggest hiring an experienced and qualified real estate professional, these circumstances mak...

  The last two years have brought a lot of twists and turns for the average local real estate market. In an attempt to get ahead of the expected trends and make the most of your next home purchase or sale, here’s what buyers and sellers should know about the Delaware real estate market in 2022. Changing Interest Rates One of the most-discussed topics we are seeing on the horizon is the possibility of increasing interest rates. The Federal Reserve has been eyeing this increase in interest rates as a method to help combat inflation across the entire economic landscape. This volatility was created as we collectively entered a crisis mode of operating throughout the last couple of years to cope with drastic changes in just about every facet of our lives, and economics were certainly not spared. Periods of freefalling consumer spending and confidence and rather severe supply chain shortages have taken their toll, and we are just in the process of pushing through these...