Gail n Greg - Your Agents @ The Beach

CLOSED IN NORTH REHOBOTH BEACH

While most of us were filing our tax returns yesterday, 45 Maryland Avenue  was closing their deal.  This 10 bedroom, 5.5 bath cape cod sold for $1,150,000.  It was sold furnished, sitting 1.5 blocks to the beach on a 5,000 square foot lot.  It was built in 1927 and advertised 4 separate rental units and $77,450 in annual rental income.  It was only on the market for 124 days and the Sellers received 79% of the original asking price of $1,450,000.  That makes 5 closing so far this year in North Rehoboth with an average selling price of $991,100 and 235 days on market.  Sellers received an average of 75% of their original asking price.  1 home remains under contract and 36 remain active.

PRICE REDUCED IN NORTH REHOBOTH BEACH

 29 Henlopen Avenue  reduced again, this time down to $1,474,000.  It originally listed back in September of 2010 for $1,555,000.  Ocean Block.

PRICE REDUCTIONS IN NORTH REHOBOTH BEACH

 Two price reductions in North Rehoboth yesterday.  First, 111 Columbia Avenue  reduced another $25K to $1,373,000.  It has been on the market for 376 days now.  It started at $1,587,000 back in April of 2010.

55 Sussex Street  also reduced, they came down $80K to $719,000.  They also started back in April of 2010 at $845,000.

SOLD IN SOUTH REHOBOTH BEACH

 Third SFH sale in South Rehoboth this year.  16 Delaware Ave.  went under contract on the 11th after just about a year on the market.  It was listed 4/19/10 for $1,595,000 and never reduced priced during all that time.  It will be interesting to see what it sold for, stay tuned.  This leaves us with 26 SFHs to sell in South Rehoboth. 

FORECLOSURE CLOSING IN CANAL CORKRAN

 31 Thompson Court  closed on April 8th for $695,000.  It had been on the market a cumulative 670 days and started way back in May of 2009 at $1,295,000.  It was listed at $729,900 when it went under contract.  This 5 bedroom, 3.5 bath 2 story colonial was built in 2005 on a 100 x 120 foot lot and was advertised to have 4,084 square feet of dwelling space.  It was also noted on the MLS fact sheet that the Bank kicked in another $16,000 in closing help netting the price to $679,000.  First closing in 2011 for CC.

PRICE REDUCED - A BERKELEY IN MILL POND COMMONS IN PAYNTER'S MILL

A Berkeley similar to the one purchased here withdrew from the market for a few days in order to make a Broker change.  16581 John Rowland Trail  has come back on the market at a significantly reduced price.  It had been listed for some time at $499K and has now been reduced to $459K.  This home has abundant upgrades and many, many landscaping additions.  It has been listed for a cumulative 1,122 days. It originally listed for $557,700.

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

 1205 Miller's Landing  reduced price yesterday to $175,000 making it the lowest priced offering in this sub-community of Paynter's Mill.  It is a Bonica Rose model which sits on the 2nd floor with 2 bedrooms and 2 baths.  It has been on the market a cumulative 541days.  It originally started at $205K and should move at this price.

NEW LISTING IN CANAL CORKRAN

This is not the house, it's a short from the rear of Wade's Court.  As you know, I'm not allowed to use the actual photo of the house.  At  20 Wade's Court  sits a lovely 2 story cape cod built in 2005 on a 100 x 200 foot lot.  There are 4 bedrooms, and 4.5 baths in this house built around an "open floorplan" with "beautiful materials and workmanship inside and out"  "Included is an in-ground pool with 900 square foot stone patio, coffer-ed ceilings, wainscoting, custom tile/stone, high definition sound, zoned audio, security and Wolf/Bosch/SubZero appliances".  Whew!!  It has been listed by the owner for $1,100,000.

ONE REDUCED AND ONE CLOSED IN NORTH REHOBOTH BEACH

 141 Henlopen Avenue  showed up yesterday as a "Pending" and "Closed", not unusual for a "short sale" to do that as one never knows if it is going to close until it does.  It closed for $650,000 which is probably very close to the lot value of this 50 x 100 foot lot.  The home itself is a 2 bedroom, 2 bath structure built in 1981.  It is a 2 story cape cod with a full basement, screened porch and wood burning fireplace.  It had originally listed for $860K a little over 200 days ago.  NR has now had four closings (SFH) in 2011.  The average listing price of these four was $1,285,000 and the average selling price has been $951,000, just 74% of original asking price.  The average DOM for the four sold was 263 days.  There are still 2 under contract waiting to settle and 34 active listings.

At the same time, 60 Maryland Avenue  reduced price to $799,000 down from the original $825,000 established just 33 days ago.  Average listing price has now come down to $1,372,000 for the 34 active SFHs listed in North Rehoboth. 

PRICE REDUCTION IN COUNTRY CLUB ESTATES

303 Country Club Drive reduced price yesterday to $625,000.  This home has been on the market for 362 days and originally listed for $695,000.  The average listing price of the seven SFHs in CCE is now $707,000 and 548 DOM.  There have been no sales so far this year.