Gail n Greg - Your Agents @ The Beach

UNDER CONTRACT - 23 COLUMBIA AVE. - NORTH REHOBOTH BEACH

Lingo got this one under contract pretty quickly (67 days), well it is on the beach block, furnished, updated and under $2MM.  It actually listed back on May 22nd for $1,990K and was reduced twice down to $1,930K at the time of contract....location, location, location, oh, and price.  MLS # 569452

NEW LISTING - 4 MITCHELMORE COURT - KING'S CREEK COUNTRY CLUB - REHOBOTH BEACH

Beach to Bay Realty Center just listed this sprawling home in King's Creek Country Club.  They have listed it at $1,175K bringing the total of active listings in this community back up to 14.  Only 3 have sold this year.  The active listings average 418 days on the market and are listed for an average of $1037K.  MLS # 571240

CLOSED!! 90 HENLOPEN AVENUE - NORTH REHOBOTH BEACH

This Lingo listing closed 7/24/09 after being on the market for 126 days.  The sale price was $750K.  It was being sold "as is" so it basically went for lot value.  It was a standard 50x100 lot.  It originally listed for $898K so it sold for 84% of it's original list price.  That's pretty much in line with the other 6 properties that have sold this year in North Rehoboth (avg. 86% of original asking price).  The average selling price of the 7 properties to sell so far this year is $969K with one going for $1,950K.  All the others sold for well under a million.  The average days on market for the 7 properties that sold is 165.  The average days on market for the 39 active listings is 405, most are well above the million dollar mark.  MLS # 567157

PRICE REDUCTION - 118 KING'S CREEK CIRCLE - KING'S CREEK COUNTRY CLUB - REHOBOTH BEACH

Second price reduction on this home this month.  it is now listed for $724K, down from the original list price of $799K.  There are 13 homes for sale in KCCC at an average listing price of $1,026K.  MLS # 568415

REDUCED PRICE - 106 SCARBOROUGH VILLAGE - COUNTRY CLUB ESTATES - REHOBOTH BEACH

This RE/MAX Rehoboth listing has been reduced for the second time this month.  It is now listed at $425K, partially furnished.  It was originally listed back in April of this year for $460K.  This is the only townhouse currently listed for sale.  3 sold in Q2 for an average price of $418K.  MLS # 568510.

UNDER CONTRACT!!! 158 COLUMBIA AVENUE - NORTH REHOBOTH BEACH

 Yee haa, this Ocean Atlantic listing finally went under contract after 1,195 days on the market.  It originally listed with RE/MAX in Rehoboth back on April 11, 2006 for $1,290.  It was listed for $850K when it went under contract...that's 35% less than the original.  It will probably settle in the low $800K range.  It's a sign of the times.  MLS # is 549300.

WITHDRAWN - 9 ALEXANDER COURT - KING'S CREEK COUNTRY CLUB - REHOBOTH BEACH

 This home is listed and owned by an agent with RE/MAX in Rehoboth.  He is withdrawing the listing after 379 days on the market.  It was listed for $1,950K.  The local paper reported that the owner has been forclosed on by the bank.  Too bad, but there is a lot of that going around these days.That leaves us with 13 active listings in KCCC with an average listing price of $1.28K and 412 dom.  Only three have closed this year after an average of 698 dom and for an average selling price of $843K.  The MLS # is 561453

NEW LISTING - 52 SUSSEX STREET - NORTH REHOBOTH BEACH

 An agent working for Jack Lingo Realtors in Rehoboth owns this house and is listing it again for sale.  This time it is listed for $1,125K.  We're back up to 41 active listings in North Rehoboth at an average listing price of $2,388K.  Only 6 have closed this year and 2 more are under contract.  All but one have sold or gone under contract for less than a million.  MLS # 571032

NEW LISTING - 16359 JOHN ROWLAND TRAIL - MILL SPRING RUN - PAYNTER'S MILL

 Bay Coast Realty just listed this Scarborough model cottage home in the rear of the community.  They have listed it for $369,900 partially furnished.  I guess the fact that the three already listed for $313K, $325K, and $299K failed to show up on their radar screen or maybe there is something extremely special about the interior of this home (very expensive furnishings).  Good luck.  MLS # 571056

PRICE REDUCTION - 23 COLUMBIA AVE - NORTH REHOBOTH BEACH

 This is the second time this Lingo listing has been reduced this month.  It has only been listed for 60 days and started at $1,990K.  I guess their approach is to come down slow but steady.  MLS # on this property is 569452 if you want to check our website for details.  www.GailnGreg.com