U.S. home values continued to slide for the eighth consecutive quarter, declining 11.6 percent from a year ago, and falling 17.5 percent since the market peak in 2006. Additionally, one in five homes sold in the past 12 months was a foreclosure, and one in six of all homeowners have negative equity. Those are the national statistics for the fourth quarter of 2008.

Our Local Market looks to be doing much better than the national average. Newark area was actually able to make a slight gain in value from a year ago.

City Median Home Value  Year Change

Bear $250,962 -4.7%

Claymont $208,173 -1.3%

Elkton, MD $222,629 -9.6%

Hockessin $396,635 -1.4%

Middletown $304,000 -5.6%

New Castle $182,692 -1.4%

Newark $226,923 +0.3%

Wilmington $222,596  -1.4%

If you need advice or help with obtaining a mortgage to refinance or purchase a home, please feel free to call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com

John R. Thomas – Certified Mortgage Planner – Primary Residential Mortgage, Inc,

Primary Residential Mortgage, Inc. is a national mortgage lender that is licensed to lend in the state of Delaware.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713