By: Audrey Ellen Brodie, Owner-Realtor

These trying economic times bring a lot of questions to our minds as Americans. Where can we put our money to insure it is safe from future loss? The national real estate picture has been bleak, the fall of Wall Street further triggers our concern, and the demise of numerous mortgage companies and banks completes the failing financial world picture.

GREAT NEWS!

Delaware has been fortunate….and especially Kent County. In the last year our property values have dropped only 8-10%, leaving us as home owners with some level of equity remaining if we didn’t purchase our homes in the last two years. Through December, 2008, Kent County property sellers were receiving 94.07% of their listing price when selling their home. (Reference: TREND Multiple Listing Service, December, 2009).

There are three categories of residents that should be considering a real estate purchase:
FIRST TIME HOME BUYER
If you are a First Time Home Buyer. �Now is the best time EVER to purchase. Mortgage rates are at an all time low. Additionally, the current Administration passed the economic stimulus bill which allows First Time Home Buyers in 2009 to claim an $8000 Tax Credit towards a home purchase. Considerations that First Time Home Buyers are confronting include the need to have a 3% downpayment and credit score requirements have been raised. However, Delaware has First Time Home Buyer programs that provide 100% financing.

UPGRADE YOUR CURRENT HOME
If you have lived in your current residence for five or more years, now is a fabulous time to either move into a bigger home, downsize, find a more rural setting or a place with zoning for your horses…whatever you consider an upgrade in your current residence. Your current home most likely has built equity since you purchased (unless you refinanced during the last five years). Now is a perfect time to use that equity as your downpayment for your next home. Also, as mentioned above, your current home has probably not lost the same level of value you hear on the national news. Average days on market for homes that are $200,000 and below is only 62 days. There are currently over 2,000 homes on the market in Kent County.. so the market to purchase is just sitting there waiting for you to make your selection!
Mortgage rates are also a great reason to upgrade your current home, with rates as low as 5.5%….and you can buy down that rate to 4.5%!

INVESTOR FIELD DAY. �Bargains Abound!
Rather than putting your money in the bank at low interest rates, or in the stock market where the unknowns are still dominant, consider putting your hard earned savings into real estate. Right now you may purchase a 3 bedroom 1 bath home at a price that can allow you to rent the home and cover your mortgage payment. In three years, you may anticipate equity build on that property… possibly bringing you up to 5% a year during that timeframe, based on current national economic projections. Managing rental properties requires a professional with the increase in unemployment and the decrease in salaries, but there are still thousands of qualified tenants available. It just takes proper judgment, a good credit history report, and powerful advertising. Dover Air Force Base consistently provides a large number of transient military members as well as contract employees to assist in feeding our local rental market.

BOTTOM LINE

Real estate in Kent County, Delaware is an educated investment. There is historically little risk due to the proven stability of property values compared to the national disasters we hear on the news (i.e. California, Florida, Arizona, Michigan, etc.). Mortgage rates are remaining low and attainable (Wells Fargo, for example, is quoting as low as 5.5%…with the ability to buy down your 30-year fixed rate). It is more important than ever to find a qualified real estate professional who can share what is currently happening in the market….and consult you on how you can build your personal real estate portfolio. Don’t miss out by wondering if it is the right thing to do. These are the best prices the market has seen since 2004. Do your homework, partner with a real estate professional and mortgage loan officer and start building your personal wealth through proper real estate investments.

For more information, or to schedule a no obligation consultation, contact Audrey Brodie, Owner/Realtor, First Class Properties at 302-331-1043 (cell), or visit the website at www.FirstClassProperties.us.

Testimonials:
“My husband and I didn’t know how to start to get our deceased mom’s home ready to put on the market. Audrey was so optimistic and educational. She pointed out things we needed to do to positively impact buyers. Audrey explained how we could get the best price possible. She gave us step by step accurate figures on what we could expect for expenses and profits. She was there for us from the first day we listed the home until the closing. She was always available and Audrey makes you feel like you are the most important client in her world. She did a great job and I would recommend her highly to anyone who wants to sell their home.”� ~Elaine L, Wyoming, DE

“Janine and I can’t thank Audrey enough for her outstanding dedication to our land transaction. The glitches were frustrating for all of us but she got us through every detail with a smile. We recommend Audrey to anyone who wants to have a positive and professional buying experience.”
~Dallas N., Smyrna, DE

As President of First Class Properties, Audrey Brodie has converted a property management company into a successful independent real estate office in Kent County.

Audrey has authored a marketing plan that focuses on growing her personal network to develop sufficient visibility and become a respected real estate resource for residents of Delaware.

Paramount in her marketing plan was the integration of meeting people face-to-face during local events and through generously sponsoring community activities. Dover Air Force Base sponsorship was first on her list, where she and her fellow realtors still spend time at First Class Properties sponsored events. The list of exposure events and locations was endless: Dover Days, Delaware Home Builders Association, Chocolate Festival, Chamber of Commerce, Amish School Sale, Mennonite School Sale, and many more.

Audrey is in the top 5% of realtors for sales volume in Kent County.

She and her husband Ken purchased over 30 homes in Delaware as investment properties to build retirement funds. It was that customer experience in real estate that stimulated Audrey’s interest in becoming a realtor and assisting others in increasing their personal wealth using real estate as the springboard.

Her marketing strategy continues to grow to include participation as Secretary to the Dover Colonial Rotary Club, member of the Greater Dover Committee, originator of a statewide Investors Guild, and much more. Most recently Audrey was appointed the Honorary Commander for the Medical Operations Squadron at Dover Air Force Base.

First Class Properties’ new office location at 1641 E. Lebanon Road, Dover, DE (on Route 10 next to Wawa and across from Sonic) is also the official drop off center for donations for Caring Hearts, Helping Hands, a local charity that focuses on caring for working families that are having financial struggles.

First Class Properties’ Mission Statement:
We will deliver a first class real estate experience to each and every client. Our commitment is to provide current and extensive education on all aspects of each transaction. We pledge to present multiple options and opportunities to ensure that every decision made is informed, correct, and in our customer’s best interest.