From the first moment Dustin & Mariya Oldfather caught each other’s eye during a chance meeting on Second Street in Rehoboth Beach, this place has held special meaning to them. Though road trips have taken them up and down the entire eastern seaboard and they’ve visited exciting locales around the globe—the windy streets of Chicago, the tropical sands of Key West, romantic Niagara Falls, Mariya’s birthplace in Bulgaria and romantic Buenos Aires—no place has captured their hearts in quite the same way as the coast of Southern Delaware.
The Perfect Sanctuary
Undoubtedly, Dustin & Mariya share a fondness for the area because it’s where they met, but for them, it’s so much more. The peaceful pond right behind their waterfront home is the perfect sanctuary to unwind and share a bottle of wine with friends after a long day or exciting journey. These adventurers also love nature and enjoy invigorating bike rides or hikes through the woods. They share a passion for gourmet food and appreciate the abundance of fine local dining. Their philosophy of life is to live it to the fullest by continually experiencing new things, and they relish knowing they can do it here.
Even before that day on Second Street, Dustin & Mariya’s lives traveled similar paths. They both were committed to higher education, pursuing extremely rigorous studies. While Dustin trained at the Florida Naval Base and studied molecular biology and nuclear physics, Mariya completed a challenging curriculum of math, language and computers, obtaining her degree in accounting from the prestigious University of National and World Economy in Sofia, Bulgaria. From the moment they met, they respected each other’s intellect, wit and core values. But more importantly, they admired their mutual desire to embrace life on the coast.
It’s no surprise that Dustin & Mariya have been able to turn their fondness for the coast into a successful career as real estate professionals. As a team specializing in Southern Delaware’s extraordinary coastal communities, they are able to provide their clients with more than information and guidance toward their home purchase or sale. They offer genuine enthusiasm for the lifestyle and a desire to help their clients make the most of it.
When you combine Dustin’s innovative thinking and extensive knowledge of mortgage programs with Mariya’s strong analytical, financial and organization skills you experience a noticeable advantage in today’s complex market. Add their technical savvy, heavy Internet presence and use of virtual tours and you have two valuable resources in real estate. Both Dustin & Mariya are also certified Senior Housing Specialists and work closely with many local builders so they are able to help clients in every stage of their investment portfolio, from new construction to downsizing.
Dustin & Mariya will soon be published in a book with multiple Best Selling author, Brian Tracy, called Counter Attack - Business Strategies for Explosive Growth in the New Economy. Their property marketing has been featured in The Wall St. Journal, The New York Times, Extraordinary Properties Magazine Journal and Delaware News Journal. They have appeared on CBS, FOX and WRDE television affiliates speaking on subjects ranging from branding, marketing and real estate.
Extraordinary Coastal Living
If you’ve made the decision to embrace life on the coast or would to get top dollar selling your home, Dustin & Mariya are true professionals who focus closely on helping you do just that, and they strive to provide a higher standard of service. When you’re ready to Experience Extraordinary Coastal Living, turn to Dustin & Mariya for the knowledge and enthusiasm necessary to achieve your ultimate goals.
Serving Rehoboth Beach, Lewes, Dewey Beach, Bethany Beach, Fenwick Island, Milton and Millsboro Delaware.
2014 Spring Market Update
17 March 2014, 3:00 am
We want to give you a quick update regarding the Spring 2014 Real Estate Market in Delaware as the shift from buyers to sellers market appears to be underway.
So, what’s happening in our market? Well, for the third consecutive year - home sales in Sussex County have increased by double digits - up 13 percent in 2013, listing days on market for 2013 decreased from 198 to only 168, while the number of homes on the market fell to just 44 weeks. (This is the lowest it’s been in more than two years.) So, Real Estate Recovery in Sussex County is clearly gaining momentum.
Even with the government shutdown throwing a wet blanket on our fall market, as the snow begins to melt, we are seeing well priced turn key homes sell quickly – often with multiple offers, sellers holding their ground and getting their price often above highest recent comparable sales, new construction communities continue with frequent price increases. Buyers anticipating interest rates climbing further are booking showings way in advance of their visits. Just, this past weekend our team wrote 7 offers and we sold a property in house buyer prior to completing the paperwork.
Although REO, Short Sale and Foreclosure inventory is down there are still some great opportunities for investors in the market. So, if you see an opportunity you should grab it!
The good news though, is that you still have a opportunity in this last chance market as a buyer, and an opportunity for a quick sale at a fair market price as a seller. While well priced turn key homes are selling quickly and often with multiple offers, mortgage rates are still near all-time lows. But, now is the time to act if you are a buyer or a seller who needs to move.
So, If you know need to get an idea of your current home value, have given any thoughts to selling, need information about a property, or know someone who may be a little behind on their mortgage, give us a call email, tweet, or Facebook us.
Closing Costs in Delaware
10 March 2014, 3:00 am
Thank you for your interest in beautiful Coastal Delaware!
Most people are excited to find out how low taxes are in Delaware but you probably would like to know more about the costs associated with buying a home and the closing costs. Once you decide to write an offer and it is accepted by the seller of a home you like, your deposit will be held in an escrow account. Then you will make application with a lender and then you will decide on the necessary inspections and your Realtor will get them scheduled for you. In Delaware you can expect to pay between $350-$500 for the home inspection depending on the size of the home. If there is a well - a water test will cost about $140-$250 (re-tests $100-250.) If the property has a septic system- septic inspection costs on average $450-500. Radon is not frequently found in Delaware but a Radon Test is always a wise test just in case, expect $100-$150. In most cases you will usually have a termite inspection. Expect $100-200. Most home inspection companies in our area will bundle all of these tests together for convenience.
Transfer Tax is the largest portion your closing costs. The transfer tax in Delaware is 3% (1.5% to the state and 1.5% to the county) of the purchase price and it is customarily split between buyer and seller evenly at 1.5% each. However, if you are purchasing new construction, many builders will request that the buyer pay the full 3% transfer tax tieing this condition to an attractive incentive. Please be aware this can be negotiated! And, we can usually negotiate this down for you. Title Insurance is the next biggest portion of the closing costs. Title insurance protects you from any future claims of ownership.
Lender costs do vary depending on rates, but be careful agreeing to work with a builder’s “preferred lender” in order to get an incentive without getting competitive bids. In the past we have seen some lenders buried origination fees into the HUD and there is no recourse for the buyer one they agree to accept the incentive. As part of the mortgage process your lender will order an appraisal ($400-$600) and survey ($400-$600.) The seller typically pays for the preparation of the HOA docs and DUCIOA/Community Docs.
In all, if you are taking a mortgage you can expect to pay 3-4% of the purchase price in closing costs for your new Delaware home. If you pay cash, you can expect to pay 2.5-3% of the purchase price.
Coastal Delaware is a wonderful place to live and enjoy life. If you’d like to receive more information about the area, please let me know your mailing address and I’ll be happy to send it out to you.