This huge ocean front house has been on and off the market umteen times over the 540 days it has been active. They have reduced the price, raised the price and even went to auction at one point. Believe it or not, it first listed back on May 9, 2008 for $8,750K. Mann & Sons had it listed for $4,995K when it was withdrawn on 10/31/09. My guess is that we will see it active again soon, but at what price? MLS #559834
UPDATE 11/3/09 - Well as predicted, it didn't take long for this property to come back on the market. Lingo has now listed this home in South Rehoboth at a reduced price of $4,950K.
You're right, this house was listed much lower back when they had it going to auction. For some reason when the auction failed and they re-listed the property, they decided to raise the price, probably because they knew if anyone were to put in an offer it would be very "low ball" and they wanted more room to negotiate. Unfortunately Sellers get very little credit for pricing "at the market" these days. Everyone wants a steal. Thanks for the comment.
Posted by: Gail n Greg | November 04, 2009 at 12:16 PM
craigslist had it at 4.375 back in late August.
Posted by: LVTfan | November 03, 2009 at 03:55 PM