Gail n Greg - Your Agents @ The Beach

CLOSED IN MILL SPRING RUN AT PAYNTER'S MILL!!

This is yet another incredible buy in Paynter's Mill.  16388 John Rowland Trail  was a 4 bedroom Radnor model home built by RDM out of Ocean View.  There were only two of these built in Mill Spring Run (don't know why) and this one was on a very desirable corner lot with a view of the main pond and a two car garage.  Owners were asking $459,000 when they first listed in March of 2010 and had reduced to $330,000 at the time of contract.  It ultimately sold  for $320,000  or 30% below original asking price after 605 days on the market.  That's 3 sales now in MSR this year.  There's even a better deal sitting on John Rowland Trail now, Bank owned Easton listed at $299,900.  Better hurry.

CLOSED IN KING'S CREEK COUNTRY CLUB

This seems incredible to me.  134 King's Creek Circle  listed originally back in April of 2008 (that's 1,288 days ago) for $1,150,000 and had been reduced to $695,000 at the time of contract signing.  It closed  on December 9th for $625,000.  Obviously it was over-priced back in 2008, but by double??  Buyers, there are some great deals out there but you had better hurry.  That makes 6 closings in KCCC this year, 4 of which have taken place in the 4th quarter.  There is one more under contract waiting to close so we could end up with 7 closings this year.

PRICE INCREASE IN CANAL CORKRAN

Not totally uncommon these days to have a price increase.  It's usually due to the fact that the Seller prices the home at what they think is the market and only get "low ball" offers thus forcing them to raise the price to allow for more room to negotiate and to chase those Buyers away that can't really afford the home.  I don't know if that's the case with 20 Wade's Court  but I wouldn't doubt it.  This agent owned property listed back in April of 2011 for $1,100,000 and has now raised the price to $1,95,000.

UNDER CONTRACT IN SOUTH REHOBOTH BEACH

A very expensive home on the ocean block of Queen Street went under contract on December 11th.  21 Queen Street  had been on the market for a whopping 1,511 days and was listed for a million dollars less at time of contract than when it originally listed back in Oct. of 2007 for $3,400,000.  The "at contract" price was $2,395,000.  There are now 5 homes waiting to close in SR, 2 of which are multi million dollar properties.  That should get 2012 off to a good start regarding avg. selling price.

SOLD (UNDER CONTRACT CONTINUE TO SHOW) IN MILLER'S LANDING AT PAYNTER'S MILL

1503 is the first unit to go under contract since the Builder put all the "holiday incentives" in place last month.  It is a Nellie Stevens model which is the 2nd floor 3 bedroom unit.  It was the highest priced unit sold in Miller's when the units were sold new.  This one was listed for $249,000 and included two years worth of condo fees ($8K) along with $10K off for the holidays, a one year home warranty which nets it to a list of about $230K.  It will be interesting to see what it sells for.

PRICE REDUCED IN COUNTRY CLUB ESTATES

325 Country Club Drive reduced price  yesterday from $575,000 down to $550,000.  This is the second price reduction is as many months for this home.  They have been on the market only 76 days now, started at $595,000.  There are a total of five SFHs for sale in CCE.  There are none currently under contract waiting to close.

REALTYTRAC NOVEMBER FORECLOSURE NEWSLETTER

Click HERE to see the November RealtyTrac newsletter.

NEW LISTING IN NORTH REHOBOTH BEACH

11 Columbia Avenue came on the market yesterday at the asking price of $2,195,000.  This 5 bedroom, 4.5 bath two story colonial was built in 2005 on a standard 50 x 100 foot lot on the ocean block.  It advertises 3,500 square feet of dwelling space and "nothing says warmth and inviting like wood and stone, and this home has plenty of both.  This home stands beautifully on it's own, even without a single piece of furniture, yet is being offered furnished complete to punctuate it's readiness to satisfy the most discriminating tastes and appetite for value".  With 69 Columbia Avenue withdrawing from the market we are left with 42 active SFHs.

PRICE REDUCTION IN SOUTH REHOBOTH BEACH

I've been showing this banner for over three years now and it's still true, maybe truer than ever.  306 Bayard Avenue reduced price  this week to $1,200,000 down from the original listing price of $1,500,000 posted in February of 2010.

PRICE REDUCED IN MILL POND COMMONS AT PAYNTER'S MILL

16245 John Rowland Trail reduced price  this week for the second time since listing 96 days ago.  This home has now come down from $429,900 to $399,900.  It is a lovely Carrolton model, I hope it goes for somewhere near this.  There are several Carroltons on the market ranging from a low of $359,000 to a high of $449,000.  The primary difference is in the number and size of upgrades in the home.  There is also a disparity in the various Seller's expectations.