There has been a lot of conflicting information that has been reported about the National Association of Realtors (NAR) lawsuit settlement. The settlement has not been approved yet, and there could be additional changes.

Here are the current facts:

Effective on or about July 15, 2024 all Realtors will be required to do the following:

1. Buyer's agent commissions cannot be disclosed on the Multiple Listing System (MLS).
2. Agents must have a Buyer's representation agreement before a house is shown.

What does this imply for you?

The settlement would preserve the choices consumers have regarding real estate services and compensation.

Sellers:

• A listing agent will negotiate the listing commission with the seller.
• Once this rule goes into effect, listing brokers and sellers could continue to offer compensation for buyer broker services, but such offers can not be communicated via the MLS.

Buyers:

• A written buyer's agent agreement specifying the maximum commission the buyer is responsible for is necessary.
• Just as sellers negotiate commissions, buyers will now negotiate with their agents.
• Buyer commissions can be paid directly from the buyer, as a seller paid concession, or as a portion of the listing broker's compensation.
• Buyer agreements can cover one or multiple properties and/or span a defined time period.
• The buyer's agent should document the commission amount and how it is to be paid on the sales contract, which can match or be less than the agreed-upon amount in the buyer's agreement.

Are you concerned about family members who are need of memory care, assisted living or other types of facilities? I was provided this info and wanted to share it. Check it out and I hope it is helpful. Let me know if this is valuable to you or not.

Delaware is a small state of just over 1 million people with a large senior population. Over 19% of residents are aged 65 and over, and Alzheimer’s disease and other forms of dementia are a growing concern for older Delawareans.

Here is the link to Caring.com for Delaware

https://www.caring.com/senior-living/memory-care-facilities/delaware

If you are looking for active adult (aka 55+) communities, I can help with your search www.1ststaterealtor.com

Purchasing a home is a big decision and one that should not be taken lightly. For many buyers, getting pre-approved for a mortgage is the first step in the process. Pre-approval involves working with a lender to determine how much of a loan you can qualify for and the terms of the loan. This can give you an advantage over those who have not taken the time to get pre-approved and can help you find the home of your dreams. 

Pre-approval gives you a realistic idea of your financial situation and what you can afford. It allows you to shop within your budget and narrow down your search and focus on only those homes that are within your price range. 

Mortgage pre-approvals give you an edge when making an offer. If you’re competing with other buyers, having pre-approval gives you a leg up since the seller knows you’re serious and have the means to back up your offer. 

Getting pre-approved also helps you avoid delays in the closing process. Since the lender has already looked at your financial situation, they can generally move quickly on your loan once you’ve found the right home. This can give you a competitive edge in any market. 

Overall, getting pre-approved for a mortgage is an important step in the home-buying process. It can give you the confidence you need to make an offer on the home you love, and the assurance that you’re within your budget. It can also make the closing process much smoother, so you can move into your new home sooner.

Are you Ready, Willing, and Able to buy a house?

Philidelphia Home + Garden Show

Friday, Feb. 24: 11am - 8pm
Saturday, Feb. 25: 10am - 8pm
Sunday, Feb. 26: 10am - 6pm

Start today with 50% off tickets using promo code 1MONTH. With hundreds of home improvement, remodeling, and decorating professionals under one roof, whatever your project is, our experts will be able to help. HURRY! The offer expires on February 7, 2023.

*Discount offer only valid on regular adult admission price: $12. Tickets valid one time only, one day only.

Plus, don't miss Joe Mazza live on stage Friday and Saturday and Jeff Devlin on stage Saturday and Sunday.

https://phillyhomeandgardenshow.mpetickets.com/?disc=1MONTH&utm_source=SilverpopMailing&utm_medium=email&utm_campaign=PHILLY%20HG%20S23%20Month%20Away%20CONS%20(1)&utm_content=

* Kevin Burkhardt, RE/MAX, and 1ststaterealtor.com are not affiliated with the Philidelphia home and garden show and are not responsible for offer details.

Dover Airshow this Weekend! May 21st and 22nd.

Both Navy Blue Angels and Air Force Thunderbirds will perform. Visitors are welcome both Saturday & Sunday and the museum should be open as well. Many planes will be on display. If you have very young children or older ones who are sensitive to loud noise, consider bringing hearing protection for them. Some kids love the noise; others are terrified! The Schedule of events is online. Enjoy!

https://www.dover.af.mil/Thunder-Over-Dover-2022/

First State Symphonic Band Spring concert:

Download Concert Program Download Concert.

Tickets available at:

First State Symphonic Band (brownpapertickets.com)

Concert Order

• A Patriotic Salute
• Hypnotic Memories
• Abide With Me
• Carmen Suite
• Is That All There Is?
• Pageantry March
  —–INTERMISSION—–
• The Olympics: A Centennial Celebration
• The Lion King: Soundtrack Highlights
• Ellington!
• American Flourish
• Always United, Forever Strong
• Armed Forces Salute
• The Stars and Stripes Forever
• Encore

See all scheduled performances at:

Performances - First State Symphonic Band

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Curious about local Delaware real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active, and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.