February Happenings

MARKET NEWS | EVENTS | FEATURED LISTINGS

“In February, nature reminds us that even in the coldest moments, beauty can still flourish.”

While many may think of summer as the ideal time to visit the coast, February offers a unique and captivating experience along the Maryland and Delaware shores. This is the season to truly appreciate the raw beauty of nature, with fewer crowds and a tranquil atmosphere. Imagine breathtaking scenery, crisp air, and the chance to witness incredible wildlife spectacles, like a majestic flock of snow geese taking flight or a colony of seals basking in the sun at Cape Henlopen. So, bundle up, embrace the beauty of the off-season, and discover why February is a fantastic time to explore the wonders of the coast!

We hope you enjoy our February Happenings, we’ve included some suggestions for getting out and enjoying the beauty that surrounds us — minus the crowds! Plus, our usual market update and featured listings. Special bonus article: Investing in a Rental Property.

Market Update

Sussex County, DE

January 2025

Single Family | Townhome | Condominium

The Delaware and  Maryland Coastal real estate market for the month of January is moving towards a balanced market. Mortgage rates, while still elevated, are projected to ease a bit in the coming months. This, combined with an expected increase in housing inventory, should lead to a healthy level of sales activity for our usually very strong spring market.

Home prices in the region continue to appreciate, though at a more moderate pace than we've seen in recent years. This is positive news for sellers, while buyers may find they have a bit more negotiating leverage than they did during the peak of the seller's market.

New construction continues to boom in our area, creating a lot of choices for buyers. While this adds to our modest inventory, it also puts pressure on our sellers who are selling older homes. Sellers should be prepared to discuss modest updates with their agent, staging opportunities, and general touch-ups to get their home ready to compete against sales models. Attributes such as updated mechanicals, service contracts, fresh paint and curb appeal have become critical to compete in this market.

Looking ahead, we anticipate a period of relative stability.The combination of moderating mortgage rates, increased inventory, and steady price growth should create a more balanced market, offering opportunities for both buyers and sellers. As always, it's important to keep in mind that economic conditions and other external factors can influence the market, so staying informed is key. Please reach out to me if you have any questions or are contemplating a move in the near future.

Please respond to this email to request a different market area, or a city/town snapshot.

Investing in a Rental Property: A Smart Move for Financial Security

With the rising demand for housing, investing in rental properties has become increasingly popular – and for good reason.

Owning a long- or short-term rental property offers numerous benefits that can set you up for lasting financial security and stability.

Benefits of Long-Term Rentals

A long-term rental typically refers to leasing out your property for an extended period, often a year or more, to tenants who pay rent on a monthly basis. In many cases, the rent collected from tenants will exceed your expenses, which is just one of the rewards that this type of investment brings. You should also consider the following:

Reliable cash flow: One of the biggest advantages of long-term rentals is the predictable income. With tenants locked into long-term leases, you know exactly when and how much you’ll be paid each month.

Equity building: Over time, as tenants pay rent, you build equity in the property, which can be used for future investments or leveraged for other financial goals. Home values often appreciate over time, giving you the potential to sell for a profit years down the line.

Tenant stability: Unlike short-term rentals, where tenant turnover can be frequent, long-term rentals generally provide stability.With consistent tenants, your property can be occupied year-round, minimizing vacancy risks.

Benefits of Short-Term Rentals

Short-term rentals involve renting your property or a portion of your property (such as a room or guest house) on a nightly or weekly basis. Like long-term rentals, this type of investment comes with its own set of rewards:

Higher rental rates: Since you’re renting your property out on a nightly basis, you can charge more for each stay, which often leads to higher income than long-term rentals. This is especially true for properties located in our area.

Flexibility and control: You have the ability to adjust your rental rates based on demand, seasonality or events to maximize your income.

Frequent cash flow: With Airbnb and other short-term rental platforms, you will receive payments more frequently (sometimes even on a weekly or daily basis). This can provide you with quicker access to cash than you’d have with long-term rental agreements.

Personal use of the property: If you’re renting out a portion of your property or using it for part of the year, short-term rentals give you the option to still enjoy your space while earning income when you’re not using it.

Tax Benefits and Deductions

Both long- and short-term rental properties typically offer a variety of tax deductions, which can help offset your expenses. We always recommend that you talk to your tax professional, however, depending on your location and local ordinances, these deductions generally include:

Mortgage interest: You can deduct the interest you pay on your property’s mortgage.

Property depreciation: The IRS allows you to depreciate the value of your rental property over time, reducing your taxable income.

Operating expenses: Maintenance, property management fees, utilities and insurance can often be deducted from your taxable income.

Travel expenses: If you travel to your rental property for management purposes, you may be able to deduct related travel costs.

Owning a rental property brings many benefits, whether you choose to accommodate long- or short-term tenants. If you’re looking for a reliable way to earn extra income and build financial security, investing in a rental property could be the smartest decision you ever make.

Wondering if this is a good idea for you? Talk to me and I can help guide you through the process and figure out whether it makes sense for your situation. Interested in talking with someone about managing your rental? Contact Real McCoy Property Management.

Where was the Real McCoy Group last month…

The Real McCoy Group celebrated their successful year with an in-office gathering. Prizes were given to the “superheroes” for the following: “Made of Iron” to John Ockasi; “Persistence Award” to Allison Foshee; “FUB Power User” to Andrea Geppi-Dolan; “Highest Average Sale” to Terry Lozada, and Ryan McCoy received the Captain America award for “Highest Volume” for the TRMG.

Local Happenings of Note in February

February is a month short on events in the beach communities, but that doesn’t mean there’s nothing to do! This is the perfect time of year to get outside and enjoy the beauty around you, often literally in your backyard. Below is a list of a few of the state and national parks that are close by to the Coastal area of Delaware and Maryland. These parks are spectacular, and they are just a short drive away…visit now, before the crowds and fees come back!

DELAWARE

Find your next adventure at the DE State Parks website.

Cape Henlopen

Where theDelaware Bay and the Atlantic Ocean meet sits Cape Henlopen State Park, a 5,000-acre natural wonder. Pristine beaches, mature maritime forests, prime nesting habitat and a haven for recreation, Cape Henlopen is beloved by outdoor enthusiasts around the world. Visitors can enjoy diverse habitats, abundant wildlife, the Seaside Nature Center and Fort Miles Historical Area, as well as extensive bike paths and both ocean and bay beaches.

DE Seashore

Boasting six-and-a-half miles of ocean and 20 miles of bay shoreline,Delaware Seashore State Park serves as a critical habitat and outdoor recreation epicenter along Delaware’s southern coast. The dynamic Indian RiverInlet has shaped the region’s history, connecting the Indian River and Rehoboth bays with the Atlantic Ocean. The park is beloved by anglers, beachgoers, paddlers and history buffs with plenty to explore no matter your interests!

Holts Landing

Hidden along the Indian River Bay, Holts Landing State Park offers quiet waterfront recreation. Visitors can enjoy the shoreline ,intertidal zone, salt marsh, and maritime forest. The Seahawk Trail is completely ADA accessible and provides safe passage through the variety of ecosystems at Holts Landing. A fishing pier and boat ramp greet anglers and other water enthusiasts.

Fenwick Island

Delaware’s southernmost beach, Fenwick Island State Park offers three miles of ocean beaches along with access to the Little Assawoman Bay. The park once was home to the late 1800s Fenwick Island Life-Saving Station, lost in the storm of 1962, which provided aid to maritime travelers in distress off Delaware’s Atlantic coast. Fenwick Island State Park is home to a World War II-era fire control tower that helped protect the coastline. Ghost crabs are a popular sight along the water.

MARYLAND

Assateague

Assateague Island National Seashore is a 37-mile long barrier island located off the coast of Maryland and Virginia. This beautiful island is known for its pristine beaches, diverse wildlife, and herds of wild horses roaming freely. Visitors can enjoy swimming, sunbathing, surfing, and fishing on the Atlantic Ocean beaches. The island also offers opportunities for hiking, biking, camping, and exploring the marshes by kayak or canoe.Birdwatchers will delight in the over 300 species of birds that call Assateague home. With its unique combination of natural beauty and recreational activities, Assateague Island National Seashore is a must-visit destination for nature lovers. There is a both a MD State Park, as well as a National Park located on Assateague.

Boardwalks

If State/National parks are not your thing, take advantage of the boardwalks in our beach towns (and enjoy the free parkingt his time of year). Bethany Beach Boardwalk is the shortest of the three area boardwalks, measuring approximately .33 miles. Rehoboth comes in second with the 1 mile, and Ocean City’s Boardwalk clocks in at 3 miles. All have beautiful views, and many shops and restaurants, a crowd pleaser with something for everyone!

Our Featured Listings

38340 Amaganst Lane

OCEAN VIEW, DE

4BD | 3.5BA

37391 WOODS RUN

SELBYVILLE, DE

3BD |3BA |2,800SQFT

13 Village Green Drive

Ocean View, DE

4BD |4BA |2,600SQFT

Coming Soon: 37510 Leisure Drive

OCEAN VIEW, DE

4BD |2.5BA |2,332SQFT

Recipe of the Month: Festive Black Bean Chili

Credit: Moosewood Restaurant

This is a colorful black bean dish that requires little effort to make and is attractive enough to serve on a special occasion. Serve plain or on rice or polenta.

Yields: 4-6 Servings; Time: 35 mins

Ingredients

2 c chopped onions

2 garlic cloves; minced or pressed

1/2 c water

1 tbsp ground cumin

1 tbsp ground coriander

1 c prepared Mexican-style red salsa

2 red and green bell peppers

2 15-oz cans black beans

28 oz canned whole tomatoes, with juice

2 c frozen corn

Salt, to taste

Tabasco, to taste or other

1/4 c fresh chopped cilantro, or to taste

Directions

(Prepared salsa gives this chili a "finished" flavor without a lot of cooking. We recommend a clean-, crisp-flavored salsa.)

In a covered soup pot, cook the onions and garlic in the water on high heat, stirring frequently, for about 5 minutes.

Add the cumin and coriander and stir on high heat for a minute.

Stir in the salsa and bell peppers, lower the heat, cover, and simmer for about 5 minutes, stirring occasionally.

Add the black beans and tomatoes; simmer for 10 minutes.

Add the corn and continue to cook for 10 minutes.

Add salt and Tabasco to taste. Stir in the cilantro, if desired.

Serve as suggested above or in a cooked acorn squash! Enjoy! :)

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