The Bayside Blog

The Carl M. Freeman Companies announced today that NVHomes has sold the 600^th new home in their award-winning community of Bayside in Selbyville, Delaware. NVHomes, one of the regions most award-winning and notable homebuilders, has been building in Bayside since June of 2008. “This milestone is a testament to Carl M. Freeman’s continued commitment to develop the finest all – seasons resort community in the mid-Atlantic”, said Doug Brown, Vice President of Community Development for Carl M. Freeman Companies.

NVHomes offers townhomes, villas and single-family homes at Bayside, ranging in size from 2,068 sq. ft to over 4,000 sq. ft. These homes offer standard interior features such as 9 foot or higher ceilings, first floor master suites and 2 story great rooms. And each home is Energy Star Certified.

Bayside, located just four miles to the beaches of the Atlantic Ocean, will feature more than 1600 residential units and offers resort amenities including a Jack Nicklaus Signature, 18 Hole Golf Course, The Freeman Stage for Performing Arts, two community pools, a carousel park, recreational trails, tennis complex, fitness center and more.

The Carl M. Freeman Companies were founded by Carl M. Freeman in 1947 and later led by Mr. Freeman’s son, Joshua M. Freeman from the early 1990s through 2006. The Freeman Companies are real estate developers, focused on commercial and community development and redevelopment in the mid-Atlantic region. Visit www.freemancompanies.com for more information.

For more information contact:
Doug Brown, Vice President
36220 Lighthouse Road (Rt. 54)
Selbyville, DE 19975
Telephone 302.436.3000 (ext. 3026)

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The Selbyville Farmers Market, which opened on April 21 and will run through December 8 2012, is a producer-only market hosting about 35 local vendors. The market is open for business every Saturday from 9am-2pm in Selbyville and features a variety of local growers and artisans.

Shoppers will be able to find fresh foods such as veggies, fruits, jellies, salsa, pies, seafood, breads, honey, as well as a variety of craft products including wax candles and glass jewelry. Below is a list of the market’s vendors. For more information regarding the market, visit www.selbyvillefarmersmarket.com

Peter Uprichard – Artisan Breads – A wonderful assortment of specialty breads
David Wiley – Herbs Spice and Everything Nice – Certified Organic produce,herbs, topiaries and more
Shawn Truitt – Williamsville Farms – A wide variety of vegetables,fruits and pumpkins in the fall
Elise Koch – Holly Hill Creations  – home made on the farm jams, fruit pies and seasonal fruit breads
John Sapienza – Sap’s Puddin’  -Several decadent varieties of gourmet rice pudding
Charlie Mullikin – Celtic Acres of Delaware  – A large variety of vegetables and cut flowers
Tim Fields – Baywater Greens – Several varieties of lettuce, spinach, kale and herbs
Cat Godleski – Beach Sweets – Sweets and treats fresh from the farm
Laura Shaffer – Laura’s Gluten Free Patissere – An assortment of gluten free baked goods
Bonnie Riley -Seaglass originals – A beautiful assortment of hand made gems from the ocean
Mark Stephenson -Nuts to you! – Assorted flavors of glazed, spiced, roasted and raw nuts and local peanut butte
Chrissi Sarro – Nage Restaurant Rehoboth – Fresh salads and creations from the very talented chef and his team
Christie McDowell – The Good Farm – Farm Fresh local vegetables

Location:
Corner of Rt. 17 and Main Street
Selbyville, DE 19975
Saturdays 9am-2pm

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Choosing a location for your retirement home or second home can be challenging as well as exciting. When purchasing your primary residence during your working years, you may be tied down to a certain geographic location due to where you work, where the kids go to school, and other such factors. However, these constraints are not in place when choosing a location for your second home or retirement home. You have far greater flexibility to choose a location, and you may even be considering a location that is a good distance away from your current home. There are some key factors you should consider when making this decision to ensure the best possible experience for your new investment. Consider these points:

Your Interests: Whether shopping for a retirement home or a second home, you want its location to offer plenty of enjoyable activities and perhaps some gorgeous scenery as well. Consider locations that may be located near family or that may be in close proximity to attractions you enjoy such as sporting venues, shopping destinations, beaches, golf courses, or other interests. Also keep your future travel plans in mind. Many new retirees fail to foresee the amount of travel they will be doing over the coming years, whether for vacations or family visiting. A new home with quick access to major highways, airports, or rail lines may save heavy travelers both time and money over the longrun.

Availability of Healthcare Services: You may have big dreams of living out in the country and miles from your nearest neighbor. However, you do want to consider searching for a location that is within close proximity to healthcare services. Accidents and illnesses do happen, and there may be times when you or your family need immediate medical attention. Don’t sacrifice health security for complete isolation.

Tax Benefits: Some states, such as Delaware, and municipalities will be far more affordable for homeowners during retirement because of tax certain tax benefits. For example, Delaware is a very popular retirement destination because it offers a low property tax rate, no city taxes except in Wilmington, no sales tax, no tax on Social Security income, and no inheritance tax in most cases. Take time to research taxes that you may face in certain states before making the decision where to move.

Rental Income: Financial experts many times will suggest purchasing the home before retiring, and this strategy has two clear advantages. First it allows for easier financing, as mortgages are easier to obtain pre-retirement when you can prove steady income. Second, purchasing a home before retirement allows you to rent the unit until retirement, easily building equity in your new purchase. In some high demand vacation locations, the rental income may be high enough to pay for the mortgage and then some, immediately providing a return on your investment. Choosing a home in a desirable location can help you to enjoy the benefits of easily renting out your home when you are not living in it.

Keep these points in mind as you search for a great location for your second home or retirement home.

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Last month at the 2012 Joshua M. Freeman Valor Award luncheon in Ocean View Delaware, 12 local emergency medical service works, firefighters, and police officers were recognized for outstanding work as first responders throughout the region. The awards luncheon is was presented and sponsored by Bayside builder Carl M. Freeman Companies as well as several other supporting sponsors.

Below is an excerpt from the CapeGazette.com’s coverage of the event:

“One member from each local police department, fire company and emergency service unit received an Officer, Firefighter and EMS of the Year Award. From all of those honored, one was chosen and presented with the 2012 Joshua M. Freeman Valor Award. This year’s award went to two recipients, emergency medical technicians Amber Gentry and Keith Baker Sr. from the Millville Volunteer Fire Company. Their heroic actions saved the life of a 3-year old who was found unresponsive at the deep end of a swimming pool last summer. The parents of the child were in attendance at the awards ceremony and delivered a very heartfelt thank you to all of the first responders in the room.”

To read the full original article view the CapeGazette.com here.

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EPA Names NVR a 2012 ENERGY STAR® Partner of the Year for the Second Consecutive Year

PRNewswire, March 5, 2012 – The U.S. Environmental Protection Agency (EPA) has named NVR the 2012 ENERGY STAR Partner of the Year for the large homebuilder category for its outstanding contribution to reducing greenhouse gas emissions through building ENERGY STAR homes. NVR has now received this award for two consecutive years.  NVR’s accomplishments will be recognized at an awards ceremony in Washington, D.C. on March 15, 2012, which marks the 20th anniversary of ENERGY STAR.

NVR, an ENERGY STAR partner since 2009, is being honored for their work in building energy-efficient new homes that meet ENERGY STAR guidelines. NVR builds under the Ryan Homes, NVHomes, and Fox Ridge Homes brand names.

NVR has built more ENERGY STAR homes than any other builder in the past 2 years and has committed to the next level of ENERGY STAR (version 3.0) for 2012.  NVR utilizes the HERS (Home Energy Rating System) to measure energy efficiency.  In addition, NVR tests 100% of their homes for compliance with ENERGY STAR standards. ENERGY STAR qualified homes deliver a total energy-efficiency improvement of up to 30% compared to typical new homes.

“As we celebrate the 20th anniversary of the ENERGY STAR program, EPA is proud to recognize NVR with the 2012 ENERGY STAR Partner of the Year Award for New Home Builders,” said EPA Administrator Lisa P. Jackson. “NVR and all our ENERGY STAR award winners are building an energy-efficient future for America’s families by developing ENERGY STAR-certified homes that reduce energy costs and protect the environment.”

About NVR

NVR operates in two business segments: homebuilding and mortgage banking. The homebuilding unit sells and builds home under the Ryan Homes, NVHomes and Fox Ridge Homes trade names and operates in 27 metropolitan areas in 15 states.  For more information about NVR, Inc. and it’s brands, see www.nvrinc.com, www.ryanhomes.com, www.nvhomes.com, www.foxridgehomes.com, www.ryanhomesreviews.com and www.myryanhome.com

About ENERGY STAR

ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. Now celebrating its 20th anniversary, ENERGY STAR offers businesses and consumers energy-efficient solutions to save energy, money and help protect the environment for future generations. About 20,000 organizations are ENERGY STAR partners committed to improving the energy efficiency of products, homes, buildings and businesses. For more information about ENERGY STAR, visit www.energystar.gov or call toll-free 1-888-STAR-YES (1-888-782-7937).

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The Census Bureau reported in the last week that new homes sales have exceeded expectations for January. Sales of new homes hit an annual rate of 321,000 in January and 324,000 in December according to the Census Bureau and CNNMoney. The inventory of new homes continues to shrink despite a noticeable boost in housing starts by home builders… which is great news, a positive sign of increasing demand and an improving economy.

The recent article from CNNMoney noted other positive signs for the real estate market. “There are other signs that the long-suffering housing market is finally improving. The pace of sales of existing homes in January was at the highest point since the end of an $8,000 home buyers’ tax credit in 2010. Mortgage rates have been at record lows until a slight increase this week.”

To read the full article from CNN, visit here.

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According to recent reports from the housing index generated by the National Association of Home Builders and Wells Fargo, the most affordable time to purchase a home in the last two decades is right NOW. The National Association of Home Builders/Wells Fargo Housing Index looks at the percentage of new and existing homes on the market that could have been purchased by  families who are earning the national median income of $64.200. The recent index found this figure to be 75.9%, the highest in the 20-year history of this index.

The drop in homes prices and the record low mortgage rates have created this “perfect storm” of buyer favorability in the real estate market. This, obviously, comes as no surprise to buyers though. The inventory of available new homes and existing homes for sale has been shrinking while building contracts are on the rise, suggesting that the market is poised for a successful future.

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Mortgage rates hit a new low last week once again as the 30-year fixed averaged 3.87%, and the 15-year fixed fell to 3.14%. Even just a year ago, the rates were nearly a full point higher, sitting at 4.81%, and costing borrowers thousands of dollars more a year than what they would be paying at today’s rates. The rate drops come on the heels of the latest GDP news and as both unemployment and foreclosures have seen recent drops as well.

The record low rates are presenting those in the market for a new home in Sussex County, and throughout the country, with a very interesting opportunity. Never have rates been lower, and with the worst of the economic downturn behind us, it’s only a short matter of time before rates once again start to climb. To put this into financial perspective, consider the following excerpt from CNNMoney.com regarding the new rates:

“The difference in the monthly payments between a 4.81% loan and a 3.88% is about $54 for every $100,000 borrowed. For someone with a loan balance of $250,000 that comes to more than $1,620 a year.

But many of the borrowers that Obama’s plan would help currently have mortgages that carry interest rates of 6%, 7% or higher. If someone with a $250,000 mortgage carrying a 7% rate could refinance into a 3.88% loan, it would reduce payments by nearly $6,000 a year.”

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This week SmartMoney released its latest segment of the popular “Retire Here, Not There” article and chose to dive into Delaware’s beach towns. Obviously Delaware is one of the most retirement friendly states in the nation, and it comes as no shock that the state has seen steady growth of retirees in the last few years.

With retirement friendly tax laws such as exempt pension income, no sales tax and even tax-exempt Social Security benefits, Delaware is very appealing to retirees in the northeast. Delaware’s  central location to several major cities also makes it ideal for many road travelers. In addition, many retirement friendly amenities are being built into the new home communities along the coast. Amenities such as golf courses, tennis facilities, pools, and fitness rooms are frequently sought after by active retirees.

Delaware’s growing retirement population, however, has caused the cost of living of several popular beach towns to really jump. Rehoboth, for all of its attraction, now has a cost of living which is 81% higher than the national average and a median home cost that could rival any large city in the country. But even with Rehoboth’s high prices, all is not lost. There are plenty of nearby alternatives that will provide an excellent home for retirees looking to take advantage of Delaware’s financial benefits and amenities. One of the best alternatives, confirmed by SmartMoney, is the Bethany-Fenwick area.

With all the natural beauty and style of Rehoboth, yet with more affordable cost of living, it’s no surprise that Bethany and Fenwick have come in as one of Delaware’s best alternatives to Rehoboth. SmartMoney lists the clean beaches, eco-friendly lifestyle, dining scene and outdoor trails as a few of the best reasons to consider Bethany and Fenwick.

We of course are proud to remind everyone that the new homes for sale at Bayside offer residents a chance to live in a beach community with some of the best amenities around, at a more affordable price than one would find at Rehoboth. Contact us today to speak with our friendly team about our wonderful community!

To read the full original “Retire Here, Not There: Delaware” article, visit SmartMoney here!

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Bethany, Fenwick, Rehoboth and several other popular beaches up and down Delaware’s coast have been undergoing replenishment projects conducted by the Delaware Department of Natural Resources and Environmental Control (DNREC).  Beach replenishment and renourishment projects are nothing new to Delaware, they are conducted as needed over the decades as natural erosion steadily shrinks the beach yardage.  Heavy storm and hurricane activity in the last few years have sped up the erosion and prompted these replenishment projects.

Sand for the projects is gathered from a gravel-free zone near Fenwick, then distributed onto the beaches through pumps and bulldozers. This technique can add up to 300 feet of beach expansion toward the water. In Bethany Beach alone, roughly 450,000 cubic yards of sand has been pumped or shipped in for the project.

The projects, which are expected to be completed by the end of January, offer vacationers and Delaware homeowners considerable more beach space than they had last year.

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