Gail n Greg - Your Agents @ The Beach

ANOTHER DRAMATIC PRICE REDUCTION - 16624 HOWARD MILLMAN LANE - MILL POND COMMONS - PAYNTER'S MILL

 This is a RE/MAX Rehoboth listing and has now been reduced a total of $75K to the new price of $305K !!!  This Beazer Twin Home has been on the market for over 730 days.  It is a four bedroom model.  Hopefully this latest reduction will get this product moved as it is now priced well below Seller's cost.  There are two other 3 bedroom Twin Homes listed for $349,900 and $334,999.  The last Twin that sold was a "short sale" and went for $268K back on Oct. 29, 2008.  The one before that sold for $354K back on Sept. 7, 2007. 

UNDER CONTRACT!!! - 506 MILLER'S LANDING - PAYNTER'S MILL

 Finally a condo in Paynter's Mill goes under contract.   This is only the second one this year.  It took a dramatic price reduction from the Builder to get this done.  On May 31st Ocean Atlantic reduced the price on this condo by $45K to $214,900.  It will be interesting to see what it actually sold for.  This is a Sawtooth model (second floor 2BR - smallest model).  The builder still has one Sawtooth left which is listed for $199,900 and there is one Sawtooth re-sale listed at $269,900 furnished (good luck with that one).

CLOSED - 105 SCARBOROUGH VILLAGE - COUNTRY CLUB ESTATES - REHOBOTH BEACH

 Lingo Realtors closed on this property on June 23rd.  It originally listed on December 7, 2007 for $475K and closed for $415K, the same as the last one that closed on June 5th.  3 of these townhomes have closed this year, the last two at $415K and the one back in April closed at $425K.  This leaves one townhouse left which is listed at $460K.  It has only been on the market for 67 days.  The average days on market for the three that have closed was 202.

PRICE DECLINE - 309 COUNTRY CLUB DRIVE - COUNTRY CLUB ESTATES - REHOBOTH BEACH

 This Jack Lingo listing in Country Club Estates has been listed for 363 days now.  It originally listed for $575K and has now been reduced to $525K.  This is the least expensive of the four properties currently listed.  I've been in this house and it should be.

NEW LISTING - 16628 HOWARD MILLMAN - MILL POND COMMONS - PAYNTER'S MILL

 Coldwell Banker Resort Realty just listed this 3BR Twin Home by Beazer, the price $334,999.  This is apparently an Estate Sale.  There are now 2 3BR units available, the other one priced at $349,900.  It has been on the market for over 780 days.  There are also 2 4BR units listed for $345K and $359K. 

PRICE REDUCTION - 16457 JOHN ROWLAND TRAIL - MILL SPRING RUN - PAYNTER'S MILL

 Sellers in Paynter's Mill continue to be frustrated.  This well appointed Arden II has been listed by RE/MAX in Rehoboth since September 28, 2008.  It originally listed for $350K and has been reduced several times now to $325K, well below Seller cost.  There are two other similar models available (not as upgraded) for $299K and $313K.  All other listings in Mill Spring Run have been withdrawn.

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

 Wow, dramatic price reduction on this Crepe Mrytle model (first floor 2BR).  You can't blame them, it's been on and off the market for almost 800 days now.  it originally listed back in March of 2007 for $314,900 and has now been reduced to $214K and the Seller is throwing in 1 yrs HOA/Condo fees (around $3,600) for a contract by the end of June.  This listing is the best deal going in Miller's Landing now.

PRICE REDUCTION - 23 COLUMBIA AVENUE - NORTH REHOBOTH BEACH

 This Jack Lingo listing in North Rehoboth just came on the market on May 22nd and has been reduced now for the second time.  It originally listed for $1,990K and has been reduced now to $1,960K.  The strategy here seem to be to reduce frequently and in small increments.  The more one can differentiate oneself from the other 42 properties listed in North Rehoboth, the better.

PRICE REDUCTION - 903 MILLER'S LANDING - PAYNTER'S MILL

 This "Help U Sell" listing has been on and off the market for a couple of years now.  It listed this time back on March 24, 2009 for $259,900 and has now been reduced to $249,999.  This is not a good time to be selling a condo in Paynter's Mill, there are currently 18 active listings.

WITHDRAWN - 16623 HOWARD MILLMAN LANE - MILL POND COMMONS - PAYNTER'S MILL

 And then there were two.  RE/MAX in Lewes just withdrew this Beazer built twin home.  It has been on the market this time for 248 days.  The price has been reduced several times and was at $359K when removed from sale.  It started at $389,900.  This was one of the 4BR models.  This leaves one 4BR model left for sale at $345K and one 3BR model at $349,900.  Both of these have been on the market for over 700 days.  Sales in Paynter's Mill have come to a halt.