Gail n Greg - Your Agents @ The Beach

NEW LISTING - 30844 E. SALLIE ROSS BEND - MILL SPRING RUN - PAYNTER'S MILL

  This upgraded Easton model is on a corner lot by the large pond.  It has actually been listed twice before and withdrawn.  It is listed this time by RE/MAX in Rehoboth for $415K.  There is one other Easton currently listed with a Rentor in place for $435K.  It too is on the pond.  Many other Eastons have been listed over the past year but none have sold.  Let's hope that statistic will soon change.  See all the details on our website at www.GailnGreg.com .  There is also a virtual tour there.

UNDER CONTRACT - 7 WOLFPIT COURT - KING'S CREEK COUNTRY CLUB - REHOBOTH BEACH,

  YIPPPEE!!! After being on the market for over 500 days, this Jack Lingo listing has gone under contract.  It first listed for $1,350K but had been reduced to $1,150K at the time of contract.  This is the first $1MM property to sell in over a year in King's Creek.  Of course we don't know what it sold for yet and we won't until it closes.  Keep an eye out here to see.

BACK ON THE MARKET AND PRICE DECLINE - 17 LAKE AVE. - NORTH REHOBOTH BEACH

This RE/MAX - Rehoboth listing was off the market briefly and brought back on yesterday as a new listing.  Agents sometimes do this in order for the listing to look fresh.  It was originally listed back on April 11 (my wife's birthday) of 2008 for $2,395K and increased in price in May to $2,595.  It is now being priced at just a hair under $2MM.  That should get someone's attention.  Details are of course found on our website at www.GailnGreg.com 

NEW LISTING IN NORTH REHOBOTH BEACH - 71 LAKE AVENUE

  Actually, this property has been listed on a couple of occasions recently.  It is part of the Sea Witch Bed and Breakfast complex.  This time it is being listed for $2 million.  It is on a double lot apparently.  This brings to 6, the number of active listings on Lake Avenue and to 37, the total number of listings in North Rehoboth.  There is one property currently under contract but nothing has closed in North Rehoboth yet this year.

PRICE REDUCTION - 31020 ATTORNEY GENERAL COURT - MILL SPRING RUN - PAYNTER'S MILL

  Prudential in Lewes listed this Arden II model back on June 16, 2008 for $369,900.  Since then, they have reduced the price now for the third time to $323,900.  That's around 12.5%.  Hopefully that will be enough to get an offer on this property.  The other Arden II is listed for $350K and there is a Scarborough listed for $335K.  The last Arden sold for $350K (on the pond).  As I've said repeatedly, the value of these properties vary a great deal depending on the number of upgrades.  The main upgrade to this particular home is the two car garage. 

PRICE REDUCTION - 902 MILLER'S LANDING - PAYNTER'S MILL

  This is a Crepe Myrtle model which is a1st floor, 2BR unit listed by RE/MAX Realty Group in Rehoboth.  It has been listed by more than one agent since it was originally listed back on March 13, 2007 for $314,900.  The fact is that now that they have dropped the price to $237K, they will start getting some phone calls and may even get an offer.  Unfortunately, that's where the market is today in Miller's Landing.  You can click on the Miller's Landing tab on the left sidebar to see a detailed review of 2008 sales.  For details on this unit, to to our website (there is a link on the left sidebar).

PRICE REDUCTION - 39 MARYLAND AVE. - NORTH REHOBOTH BEACH

  Jack Lingo Realty just listed this home on November 18, 2008 and is reducing it now from $1,195K to $1,145K...that's $50K.  There are two other properties listed on Maryland Avenue, one just listed yesterday.  Only one Rehoboth city limits property closed in December and I don't think any have closed yet this year.  There are 36 properties listed just in North Rehoboth.

Download North Rehoboth  Click on this link to see my spreadsheet of all properties listed in North Rehoboth.

NEW LISTING - 18 MARYLAND AVENUE - NORTH REHOBOTH BEACH

  RE/MAX in Rehoboth just listed this ocean block home for $1,775,000.  There are two other homes listed on Maryland Avenue currently. You can see all the details on our website www.gailngreg.com 

PRICE REDUCTION - 16585 JOHN ROWLAND TRAIL - MILL POND COMMONS - PAYNTER'S MILL

 RE/MAX in Lewes just reduced the price of this Berkeley model to $499,900.  It originally listed on November 14, 2008 for $525,000.  The other Berkeley on the market is listed for $557,700 and has been on the market for 331 days.  The last re-sale Berkeley to sell went for about $417K including Seller incentives back on September 26, 2008. 

PRICE REDUCTION - 6 SOUTH FIELDWAY - KING'S CREEK COUNTRY CLUB - REHOBOTH BEACH

 This listing came on the market back on June 22, 2007 for $1,950K.  The Seller then raised the price in February of 2008 to $2,200K.  Perhaps they did something to the house that added more value, I don't know.  But now they have reduced the price to $1,750K.  One wonders if they had reduced it to that price in the first place, maybe it would be sold by now.  More details on our website.