Gail n Greg - Your Agents @ The Beach

NEW LISTING - FORECLOSURE IN MILL SPRING RUN AT PAYNTER'S MILL

 This is the new restaurant that just opened in Paynter's Mill, it's the former Second Street Grill from Lewes.  The food is great.  16365 John Rowland Trail  just came on the market.  It is a Bank Owned property (foreclosure) and has listed for the extremely low price of $339,000.  The lowest listed Easton  model before this was listed at $379K.  This is a perfect example of how these "distressed properties" ruin local markets.  The owner bought this home from the Builder for $365K back in February of 2005.  The avg. price for this model purchased new was $396K, there were 28 of them built.

REALTYTRAC - AUGUST FORECLOSURE NEWSLETTER

 Click HERE  to see the latest RealtyTrac foreclosure newsletter.  I subscribe to this service so if you want any info regarding local foreclosures, feel free to contact me.

NORTH REHOBOTH BEACH PRICE REDUCTION

 93 Henlopen Avenue has been on the market now for 678 days.  It originally listed for $1,750,000 but has now been reduced again  to $1,388,000.  That seems pretty reasonable for a beach block property in The Pines.  129 Henlopen Ave. was at $1,295,000 when it went under contract on August 11th.

PRICE REDUCED IN MILLER'S LANDING AT PAYNTER'S MILL

 1205 Miller's Landing lowered pricing  again, this time to $169,000.  This is a Bonica Rose model which is a 2 bedroom second floor unit (smallest floor plan).  The average selling price of this model back in 2007 was $260,000.  That's a full 35% reduction.  This is the lowest priced condo in Paynter's Mill and priced below pre-construction prices back in 2004.

NEW LISTING & BACK ON MARKET IN NORTH REHOBOTH BEACH

 17 Lake Avenue  came  back on the market yesterday after a 3 month hiatus.  The Sellers also reduced their asking price in the process.  It had been listed originally back in January of 2010 for $1,880,000 and is now offered at $1,397,000.

5 E. Third Street  has come on the market for the asking price of $1,585,000.  It sits on the third block from the beach on a 64 x 200 foot lot.  The home itself is said to have 3,300 of dwelling square feet and was built in 1990.  It has 4 bedrooms and 2.5 baths.  It does have a first floor master bedroom and a two car attached garage.

UNDER CONTRACT - CONTINUE TO SHOW IN NORTH REHOBOTH BEACH

 129 Henlopen Avenue  has gone under contract, obviously with some contingencies as the Seller has requested that it continue to be shown.  It has only been on the market for 87 days and remains at it's original asking price of $1,295,000.  Congratulations!!

NEW LISTING IN MILLER'S LANDING AT PAYNTER'S MILL

 606 Miller's Landing has come on the market, now 13 condos for sale in ML at PM, 8 of which are re-sales.  606 is a Sawtooth Oak model which is the smallest floor plan 2 bedroom unit on the second floor (mirror image of the Bonica Rose model).  This Seller has listed for the price of $210,000.  It currently has a tenant living on site.  There are now 4 Sawteeth Oak models listed for sale.

REDUCED IN KING'S CREEK COUNTRY CLUB

 5 Comfort Court  came on the market in September of 2009 for $1,345,000.  It has been reduced  several times since then, the most recent reduction being August 10th.  They now list the property for $950,000.

REDUCED IN NORTH REHOBOTH BEACH

 12 Cookman Street  reduced again, this time to $799,000  after 208 days on the market.  It started at $1,100,000, that's a 23% reduction since first listing.

PRICE REDUCED IN CANAL CORKRAN

 Really nice looking home at 35 Eleanor Lee Lane  just reduced again by another $100K down to $999,000.  It originally listed 322 days ago for $1,150,000.  This is a Garrison built home.  Average listing price in Canal Corkran now $1,172,113, 8 homes listed.