Gail n Greg - Your Agents @ The Beach

SOLD IN NORTH REHOBOTH BEACH !!!

No that's not the Seller but he's probably just as happy.  11 Olive Avenue went under  contract  yesterday making it a total of 6 properties in North Rehoboth under contract waiting to close.  This home listed in February of 2011 for $1,399,000 but had been reduced to $1,178,000 by time of contract signing.  We're still waiting for our first closing in NR in 2012 but we have a good backlog if they all settle.  Only 36 left to sell.

NEW CONDO ON THE MARKET IN MILLER'S LANDING AT PAYNTER'S MILL

Another Bonica Rose model  has come on the market in Miller's Landing.  The Boncia is a two bedroom, 2nd floor unit with a one car garage.  1305 has been listed at $235,000 !!  There are now two of them listed (both re-sales) and 4 of her twin sister (The Sawtooth Oak).  There are currently 11 condos listed for sale of which 8 are re-sales and 3 are units left over from the Builder.

SOLD AND CLOSED IN KING'S CREEK COUNTRY CLUB !!!

First closing in King's Creek this year.  119 King's Creek Circle closed on January 24th for $629,000 or 68% of the original asking price of $929,000.  It was listed at $654,000 at the time of contract signing.  This was a 4 bedroom, 3.5 bath home...built in 2003 with 3,700 dwelling square feet.  It's advertised to have a "gorgeous two story great room, geothermal heat and AC, chef's kitchen with granite counter tops and cherry cabinets, bonus room, over-sized garage, 15KW generator, security system, irrigation, paved patio". 

At the same time, this "short sale" at 4 Mitchelmore Court went under contract again.  This is a sad story, it originally listed back in July of 2009 for the price of $1,175,000 and has come on and off the market, went "short sale", has raised and lowered the price a number of times and it sits at $550,000 at the time of this contract signing.  I dread to see what it actually sells for.

 

SOLD IN CANAL CORKRAN !! NEW IN CANAL CORKRAN

#4 Canal Court has gone under contract (continue to show) status.  It has been on the market for 255 days now and is still listed at the original price of $1,599,900.  This is NOT a distressed sale.

56 Eleanor Lee Lane East came on the market on the 21st at the price of $1,750,000.  It is a 6 bedroom, 6.5 bath home with a canal view.  It sits on a 100 x 121 foot lot, it was built in 2008 and boasts 6,300 dwelling square feet.  It is advertised as an "exquisite builders custom home......features fine details throughout including energy saving construction such as a 14 ton geo-thermal heating system, 6 on-demand hot water systems and 2,500 square foot heated garage.  Bring your boat! dock comes with lifts".

PRICE REDUCED IN NORTH REHOBOTH

154 Henlopen Avenue reduced price yesterday from $660K down to $619K.  This property has been on the market since February 23rd of 2011 (coming up on a year now) when it listed for $680,000.  It is down a full 9% since listing.

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

Wow! What a deal.  The Bank has reduced the price again on 1106 Miller's Landing (a Sawtooth Oak model).  A two bedroom second floor unit with a one car garage has been reduced to $159,900 which is the lowest price I've seen in the community.  On top of that, it is a Fannie Mae property and there are no transfer taxes (save another 1.5%) and the Bank is offering up to 3% closing cost help.  That calculates to a net price of under $153,000 without negotiating the sale price.  The last one of these to sell was a Builder unit (new) back in August of 2011 for $156,720 net.  The two prior to that sold in 2010 for around $190,000.

PRICE REDUCTION IN COUNTRY CLUB ESTATES

257 Country Club Drive lowered price  yesterday from $579,000 to $574,000.  It was listed on September 7th for $599,000 so has dropped 4% since listing 134 days ago.

NEW LISTING IN NORTH REHOBOTH BEACH

Another Olive Avenue home coming on the market.  #29 Olive Avenue is the 5th house on that street to go up for sale.  Seller(s) asking $1,360,000 for this 6 bedroom, 3 full bath and 2 half bath cottage/farm house that sits on a 75 x 100 foot ocean block lot.  It is a "corner lot with 3 units: main house, guest cottage and garage.  Needs updating but great potential:huge dining, large kitchen, screened porch(s), courtyard area, outdoor shower.  Front of house w/partial basement and spacious wrap around screened porch".  It was built in 1915.  Up to 37 active SFH listings.

SOLD IN MILL SPRING RUN AT PAYNTER'S MILL

16365 John Rowland Trail finally went under contract.  This Easton model was bank owned  and priced at the incredibly low price of $294,900 (I dread seeing the closing price).  Many of these sold for well over $400K back in the day.  In fact, there was another one listed for $428,000 that withdrew from the market last December.  The Easton is a four bedroom, two story home...the largest one built by RDM (the builder of MSR).

SOUTH REHOBOTH ACTIVITY - CLOSED AND UNDER CONTRACT

The wave of activity continues in South Rehoboth.  208 Norfolk closed on January 13 for $810,000 after being on the market for 265 days.  The Seller(s) got 88% of their original asking price of $919,000.  This is a 4 bedroom, 2 bath colonial that sits on a standard 50 x 100 foot lot on the 3rd ocean block.  It was sold furnished.  First one this year.

On the same day, 13 Laurel went under contract after only 43 days on the market.  It is listed at the original price of $2,269,000  and joins two other SFHs currently under contract waiting to close.  Inventory in SR is coming down, there are only 19 currently listed as active.  SR is getting off to a good start.