UNDER CONTRACT IN NORTH REHOBOTH - 46 PENNSYLVANIA AVENUE

 After 311 days on the market, this Lingo listing went under contract at $2,149K.  It originally listed for $2,495K back in June of 2008.  It is a new construction home near Lake Gerar, a couple of blocks from the beach.  If it settles for anywhere near it's asking price, it will be the highest priced home to sell in North Rehoboth this year.  Only  3 of the 13 properties closed this year sold for over $1MM.  There are now 4 properties under contract in North Rehoboth.  We are going to end up with under 20 properties closing in 2009.  There are 37 active listings.  Do the math.  MLS #568206