The Fall Season in Lewes and Rehoboth Beach, Delaware….

As much as I enjoy Summer at the Beaches in Delaware and hate to see it end, Fall brings many new joys. Indian Summer always brings warm, clear days and cool “Sweater Weather” nights. It also brings some of the greatest Striped Bass and Blue fishing in the world!! Whether you surf fish from the beach, or troll the Indian River Inlet and Rehoboth Bay waters, you are sure to have a lot of fun! Not a fisherman/fisherwoman?…..Fall also means many other types of fun to be had in Lewes/Rehoboth Beach, Delaware. The Rehoboth Beach Jazz Festival is always a big attraction and a chance to listen to some very talented musicians. Another annual event is The Sea Witch Festival. If you’ve never been to The Sea Witch Festival, you don’t know what you’re missing. Have you ever seen pumpkins flying through the air? If not, make plans to attend the annual Punkin Chunkin in Bridgeville, Delaware. People come from all over the country to compete and see how far they can shoot a pumpkin out of a cannon or catapult one through the air. All of the contestants design and build their own machinery for this event. It’s very exciting to watch!!
So, come on down to enjoy Fall in Lewes, Rehoboth Beach and Bridgeville, Delaware. It’s also a great time to partake in the fine dining restaurants in the area. They are less crowded than in the Summer. Hope to see you soon!!

Delaware State Chamber of Commerce Chairman of the Board of Directors, Tommy Cooper, “I Admire Greatness….. “

I admire greatness.

Greatness, when I see or experience it – inspires me. Delaware has all the ingredients to accomplish greatness. We have a world class business community, cutting edge universities and talented, hard-working elected and cabinet officials. If we all work together for a common purpose, with no selfish or hidden agendas, we can set a much needed example for the entire country. Are we doing that now? I don’t think so, be we can and should. I challenge us…..let’s all pull together. We need a leaner and more cost effective state government, and a much broader source of career employment for our aspiring homegrown kids. Are we all ready – all facets of our state? Let’s inspire and let’s experience greatness. Our citizenry will appreciate and embrace it, and our kids and grandchildren will all benefit and reap the rewards.

What a great legacy for us to leave!!

~ Tommy Cooper

Delaware State Chamber of Commerce Chairman of the Board of Directors

How does the “Real Estate Spread” affect you in today’s market

I am Tommy Cooper – President and broker of Cooper Realty, Associates.  I have been a real estate broker since 1976, and I established Cooper Realty in 1984, 26 years ago.This is the 4th recession I have been through, and let me categorically state that the previous 3 were amateur hour compared to our current recession, depression, or however you choose to describe it.

All the tried and true workings of real estate what we dealt with in the past, have been replaced by an all new set of scenarios.

Mortgages, appraisals, settlements, they all have new and more cumbersome regulations to deal with.  Add short sales, foreclosures, credit rating standards, and we have a whole new real estate world to address.

The good news, for buyers and sellers who have found the few realtors who have adapted, is there are tremendous opportunities to take advantage of.

To understand these opportunities, you must relate to what I refer to as “the spread theory”.  If your current property is worth 30% less than it was 3 yrs ago, (and it may very well be), who cares?  It makes no material difference if you are upgrading to a better and more expensive purchase.

“Is he crazy”? you may be asking yourself.  No, I am not, and here’s why:

Hypothetically, if your property was worth $400,000 3 years ago, and only $300,000 today, to upgrade to that just right property 3 years ago would have cost you $600,000.  Now, it can be purchased for $500,000.

The spread to live in your dream home 3 years ago would have cost you $200,000 ($400,000 to $600,000).  Today, the spread from the reduced value of $300,000 to your dream home cost of only $500,000 is still the same $200,000.  Everything is relative- the spread is still the spread.

Add to that, record low interest rates, and you have the perfect scenario-  the same spread as 3 years ago at the height of the market and a much lower monthly payment than would have been, because of  record low interest rates.

Digest my theory and think about it.  There has never been a better time to buy real estate.