Gail n Greg - Your Agents @ The Beach

UNDER CONTRACT IN NORTH REHOBOTH - 46 PENNSYLVANIA AVENUE

 After 311 days on the market, this Lingo listing went under contract at $2,149K.  It originally listed for $2,495K back in June of 2008.  It is a new construction home near Lake Gerar, a couple of blocks from the beach.  If it settles for anywhere near it's asking price, it will be the highest priced home to sell in North Rehoboth this year.  Only  3 of the 13 properties closed this year sold for over $1MM.  There are now 4 properties under contract in North Rehoboth.  We are going to end up with under 20 properties closing in 2009.  There are 37 active listings.  Do the math.  MLS #568206 

PRICE DECLINE - 73 PARK AVENUE - NORTH REHOBOTH BEACH

This Jack Lingo listing is being reduced for the first time since it was listed on Sept. 23rd of 2009 (43 days ago) and is now listed at $1,900K.  They started at $2,150.  MLS #572760.

UNDER CONTRACT - 137 HENLOPEN AVE. - NORTH REHOBOTH BEACH

This is a RE/MAX Rehoboth listing.  This brick colonial circa 1967 is under contract after 488 days on the market.  It originally listed for $2,750K and was listed at $1,750K at the time of YIKES!!  This house sits on 20,000 square feet of North Rehoboth real estate.  There are now three properties under contract with 13 closed so far this year.  MLS #560834

WITHDRAWN FROM SALE - 55 SUSSEX ST. - NORTH REHOBOTH BEACH

RE/MAX Rehoboth listed this overpriced relic on an undersized lot on Sussex St. back in January of 2008 for $1,100K.  They apparently are giving up or they are changing Real Estate Brokers after 655 days on the market.  It was listed for $985K at the time of withdrawal.  That leaves us with 38 active listings in this part of town.  MLS #556039

WITHDRAWN - 45 COLUMBIA AVE. - NORTH REHOBOTH BEACH

This Lingo listing in North Rehoboth has been withdrawn from the market after 350 days.  It was listed for $1,595.  I attended an agent open house there and the home is very nice.  Perhaps the Seller is just taking a break for the holidays as is common this time of year or maybe they are just changing Brokers.  At any rate, the MLS # is 564794 if you wish to look up the details of this property.  Try our website (new website coming soon) at www.GailnGreg.com 

UNDER CONTRACT - 80 SUSSEX ST - NORTH REHOBOTH BEACH

This Jack Lingo listing was on the market for 252 days.  This is a new construction home built on one of the old Brown lots that were purchased a couple of years ago by a speculator.  I was inside this house the other day for an Agent Open house.  It's not quite complete but very nice with many cool upgrades.  It was listed for $1,295 and was at that price when it went under contract.  This is the 15th house to go under contract this year, 13 have closed.  Only 5 closed in the first half of the year, the other 10 in the second half.  It looks like the "big money" is finally jumping in and picking off some of these great deals.  There are 41 more that are now active in North Rehoboth.  By the way, the average selling price of all 15 properties is under $1MM and of the 13 that have closed, the average days on market is 364 and they went for 76% of their original asking price.  MLS #566483

PRICE REDUCTION - 52 SUSSEX ST. - NORTH REHOBOTH BEACH

This agent owned, Lingo listed property in North Rehoboth has been on and off the market a couple of times.  It originally listed this time in July for $1,125K and has been reduced now for at least the third time to $999,500.  It's a nice house, very vertical.  It's competing with 41 other homes in North Rehoboth.  MLS #571032

SOLD IN NORTH REHOBOTH !!! 46 HENLOPEN AVENUE

Lingo (Buyer's agent) and Prudential in Lewes (Listing Agent) worked out a deal just 3 days prior to the scheduled auction of this property in North Rehoboth.  It had been listed for a cumulative 1054 days and sold for 56% of it's original listing price of $2,325,000.  Final selling price... $1,300,000.  That's the 13th house to close in North Rehoboth.  The average selling price has been $993K and 364 DOM.  MLS #566198

PRICE REDUCTION - 66 COLUMBIA AVE. - NORTH REHOBOTH BEACH

Lingo takes their first 6% price decrease on this North Rehoboth property in the Pines.  It originally listed last March for $1,595 and has now been reduced to $1,495.  It is being sold furnished.  MLS #567207

SMALL PRICE REDUCTION - 141 HENLOPEN AVE. - NORTH REHOBOTH BEACH

This Lingo listing is being reduced for the second time to $875K.  It has been on the market for 116 days.  It is one of eight currently listed on Henlopen Avenue.  It originally listed for $915K.  I think they still have a ways to go.  It sits on a standard lot (50x100) and looks like it may be worth a little more than "lot value".  If you're interested in what "lot value" is, call us and we'll share that info with you.  42 properties listed now in North Rehoboth.  MLS #570208