Rehoboth Beach Real Estate News

September 2012 Opening Day, the new Schell Brothers community named SENATORS in Lewes Delaware managed to sell 27 lots.

What’s all the fuss? Why are they selling so quickly? The neighbouring communities of Hawkseye and Wolfe Pointe have home prices starting at around $700K, in Senators prices start in the mid $300’s. In addition to the low prices the community will be one of the first in the area to offer natural gas rather than propane for heating. The community will have a clubhouse and pool as well as easy access to the Junction Breakwater trail. Please contact me if you have any questions or would like to request an info packet.

It seems like everybody is looking for a deal too good to be true. The best deals on affordable homes I have seen lately seem to be new construction single family homes located in communities that are a 10 -15 minute drive to the Ocean. Believe it or not new construction homes cost less in these communities than buying used homes.

What kind of prices am I talking about? How about nice 3BR/2BA single family homes with an attached garage starting at $207,000?

Where is this community? Millsboro, Delaware – Long Neck Shores – Capstone Homes.
Call Mike Brown at 302 258 4368 to see it in person.

Want to be a little closer to the Beach? How about a 3BR/2BA with attached garage in Lewes DE, built by “Delaware’s only certified Super Home Builder” starting at $223,900? Located 10 minutes from Lewes Public Beach & Cape Henlopen State Park

Where? Lewes, Delaware – The Ridings at Rehoboth – Insight Homes.
Call Mike Brown at 302 258 4368 to see it in person.

Want to go up-scale on a budget in a community with a pool, clubhouse and it’s own beach and gazebo on the Rehoboth Bay?
$276,900 will purchase a 3BR/2BA 1800sf home with a garage on a half acre lot.

Where? Lewes, Delaware – Bayfront at Rehoboth – RDM Builders.
Call Mike Brown at 302 258 4368 to see it in person.

27 Thompson Court: 4 Bedroom 3 Bath Single Family home on a .27 acre lot in Canal Corkran offered at $649,000

Sales data for Canal Corkran 4BR/3BA Single Family Homes:

Hi: $1,150,000

Low: $740,000

Median: $980,398

Average: $956,799

Standard disclaimer: This post was accurate the day it was written 3/14/2012. The author does not promise this post will be accurate in the future.

SOLD Five days after I mentioned it here!

27545 MAYFIELD ROAD Unit:50 built in 2009

I was out showing property this afternoon and ran across this listing which I think is a great deal.

MLS# 592866 Asking price $133,900

3BR/2.5BA with a Garage & Deck

$1740 yearly condo fees, taxes $662, Trash $350

The community has a small swimming pool and is located next door to a Harris Teeter grocery store.

Priced below many Short Sales & Foreclosures in the area and in excellent condition.

Standard disclosure. The availability and price of this listing were current on the day this was posted (March 9th 2012) This listing will probably sell relatively quickly and may not be available at a later date.

The average home price in the Rehoboth Beach Yacht & Country Club is over $1,000,000. If you like the sound of living in RBYCC but don’t want to spend a million here are four homes priced under $400K

1. 14 Stafford 4BR/2.5BA $389,000
2. 8 Coventry Road 3BR/3.5BA $399,000
3. 10 Surrey Road 4BR/3.5 BA $399,000 Short Sale, AS IS
4. 5 Canterbury Lane 3BR/2BA $399,900

Please click any of the addresses above for additional details.

Price and availability were current as of March 6 2012 but will certainly change in the future.

So, you know you want to buy a house in Rehoboth Beach but you don’t know much about the different communities. If you believe in the intelligence of crowds, the largest crowds chose to buy in the following communities during the last 365 days. Acting independently based on the information available, more people made the decision to purchase homes in these Rehoboth Beach SFH communities than any others.

2/28/2011 – 2/28/2012 Accounted for 227 total single family homes sold + under contract in Rehoboth Beach Delaware.

Community Name | Units Sold + Under Contract.

Click on any of the community names to view current inventory:

1. Rehoboth Beach Yacht and Country Club. 28 Homes
2. North Rehoboth. 17 Homes
3. South Rehoboth. 17 Homes
4. Breezewood. 10 Homes
5. Bay Vista. 9 Homes
6. Kings Creek Country Club.  8 Homes

New on the market as of 2/21/2012. 1 Leigh’s Way – Sea Chase.

Lowest priced 4BR townhouse in Rehoboth Beach DE

4br/3ba Townhouse with a one car garage and sunroom in the the neighborhood of Sea Chase. This community has a pool and is walking distance to restaurants and shopping.

Asking Price $229,900. County Taxes $450 a year, HOA $3960

There is no doubt about it, getting a home sold in today’s market can be difficult. Therefore, it is important to take a few simple steps in order to increase the chances of getting your home sold quickly and at a reasonable price – no matter if you’re selling Rehoboth Beach, Bethesda real estate, or just about anywhere else. Fortunately, you don’t have to invest a great deal of money into a home in order make it more marketable. In fact, here is a look at five simple repairs that will help you sell your home faster.

Simple Repair #1: Replacing the Front Door

No matter how well you take care of your home, your front door is subject to wear and tear. Whether from regular use or from weather changes, front doors get dinged, dented and faded. Since your front door will be responsible for creating your home’s overall curb appeal and because it will play an important role in making a first impression on potential buyers, you want to be sure it’s a good one. Therefore, it is well worth your investment to replace your front door or to make any necessary repairs to make it look just as good as new. To take it a step further, choose an energy-efficient door to replace your old one. Today’s buyer is always looking for the little extras that will help cut back on energy costs.

Simple Repair #2: Repair Grout and Tile

As a homeowner, it can be easy to look past broken and cracked tile and grout. Yet, when potential buyers come to view your home, this will be one of the first things they notice. Therefore, you should be sure to repair or replace any crack, chipped or discolored grout and tile before you put your home on the market.

Simple Repair #3: Apply Fresh Paint

Over time, paint slowly becomes less vibrant. Furthermore, due to regular wear and tear, certain parts of your interior walls may become chipped or even damaged. You can give the inside of your home a fresh, new look by simply repainting all of the walls before you put your home on the market. When choosing your colors, be sure to select neutral shades that will be likely to appeal to the broadest range of potential buyers.

Simple Repair #4: Repair Household Systems

When looking for a home, buyers want to be confident that all major systems are in proper working order. Furthermore, your home inspection will involve checking on your household systems to ensure they are working properly, so you can save yourself a great deal of hassle down the road if you make any necessary repairs before putting the house on the market. Systems to check for necessary repairs include the electrical, plumbing and HVAC systems.

Simple Repair #5: Replace Bathroom and Kitchen Fixtures

Replacing certain fixtures in your bathroom and kitchen can go a long way toward improving the look of these two important rooms while also increasing the overall appeal of your home. Installing water-efficient faucets, for example, will give both rooms a facelift while also appealing to eco-conscious buyers. Taking this a step further by installing a water-efficient toilet and showerhead in your bathroom will be sure to win over many potential buyers.

About The Author – Kevin Koitz is a Washington DC native and specializes in Bethesda condos as a member of the Koitz Group.

104 Columbia Avenue in the Pines. Rehoboth Beach DE.  $675,000

104 Columbia Avenue. Rehoboth Beach DE 19971

3BR/2BA Walking Distance to the Beach and Boardwalk. Sold furnished as seen.

e-mail me for additional photos.  Mike@bwbeach.com

Call me quickly as this one is going to sell before Halloween.
List date 10/04/2011

As of the 10/9/2011 there are already multiple offers on the house.

Mike Brown 302 258 4368

AUCTION

Saturday, September 10 at 1PM

Dewey Beach – 13 Three Bedroom Two Bath Condos

Highlights and Features

Call Mike Brown for Details at (302) 258-4368

Sussex County is getting national attention from Extreme Makeover Home Edition (EMHE)! They’ve chosen southern Delaware’s own Schell Brothers Construction to build their next home for a deserving family in our area. The build will begin August 22, and run through August 29, when crowds chant “Move That Bus!” welcoming the family to their new home. Last night, Cape Henlopen High School became the scene of an energizing pep rally featuring cheerleaders, drum lines, EMHE crazed fans, and some of the folks behind the show. But no, Ty Pennington didn’t make an appearance. That won’t happen until next week, when on Tuesday, Ty will surprise one very lucky family with his famous “Gooooooooood Morning,” kicking off the beginning of 4 1/2 days of extreme building. That’s right- only 4 1/2 days. With an army of over 7000 volunteers from around the community, this promises to be one of the most exciting builds yet. Following the pep rally, a benefit concert was offered, with all proceeds from tickets going to help the cause. Guest host Telly Leung, of the hit show, Glee, was on hand to introduce talent from around the area, treating the audience to 4 movements of a ballet, tap and jazz dancers, Broadway singers, piano players, and even a visit from Miss. Delaware. After a finale featuring the Blue Moon’s own Pamala Stanley singing Ain’t No Mountain High Enough, guests were reminded of the fact that although we may face seemingly unsurmountable odds, every one of us has the ability to be a hero, by getting involved in a cause where we can make a difference. Because of Sussex County’s amazing community, a house will be built in 4 1/2 days, and a family that once felt hopeless, will get a new beginning. Be sure to check my blog for pics and behind the scenes footage of the build!

Are you looking to buy your own home? Would you like to buy a beachfront property, but are wondering if you can afford it? Well, it’s your lucky real estate sales season. According to industry experts, with highly-affordable market prices and historically-low mortgage rates, now is actually one of the best times to buy a house! And while there are conflicting views about the future of the housing industry—some say it’s bouncing back, others believe that it’s still going to fall further—one thing is clear: 2011 is a buyer’s market, even in the most sought after beach communities. Here’s why:

Properties are “On Sale”

Nationwide, housing prices are down 30 percent on average—even down 55 percent in some locales. With the number of foreclosed homes on the market, it’s no longer impossible to find well-priced properties by the beach. Miami—a city known for its great beaches and lively nightlife—has been included in CNN’s top ten cities for home buyers, and it’s no wonder: owning a quaint stucco cottage in this dynamic city now costs less than renting!

Other beach- and bayfront properties are available at very low prices in other beach communities, where they are targeted for “second-homers” and snowbirds who find fine white sand and great beaches irresistible. With a seaside atmosphere as the lure, and great prices as the hook, buyers are falling for beach living, and getting great deals in the process.

Mortgage Rates Are at a Record Low

Aside from low prices, there is another factor which encourages home buying now: interest rates are at a 40-year low. Averaging just shy of 4.3 percent for a 30-year fixed-rate mortgage (as of this writing), the cost of financing a home purchase is much lower now than it was just a few years ago. This means a great deal for middle-income families, who are finding that with low interest rates, the beach home of their dreams is becoming more financially feasible. Rates can’t stay this low forever, so buyers need to hurry to take advantage of this once-in-a-lifetime affordability.

Large Inventory

Would you like a beachfront property in Fort Lauderdale, imagining a leisurely life parasailing or snorkeling right in front of your home? Or perhaps you’d prefer a condo on the coast of California? Prices for condominiums in both of these locations have gone down drastically, and if you pay with cash, you can even get a better deal.

However, once the market goes back up (and some analysts are seeing rising trends), sales volume increases, and at that point inventory levels will come down dramatically. The longer you postpone buying a home, the smaller your choices will become, and your chances of finding an affordable dream home may vanish.

Properties located in cities with warm weather and beaches, like sunny Florida, are bound to appreciate in value in the future, given all the perks that come with them: white sand beaches, temperate climate, and a variety of water sports and other entertainment opportunities. And what sustains the value of these properties also drives their demand, meaning when the market picks up, it will pick up fast. Buyers are sure to swamp these locations when confidence in the marketplace returns, so why not buy low and make the best financial move?

Forces are conspiring to make it easier to own that dream home than its ever been. So take the hint, and check out the prices in your dream beachfront community. You may be pleasantly surprised.

What: Auction of Seven Mid Rise Condo Units + Two 1/4 acre lots

When:  Sunday May 29th at 1:00PM

Where: Windswept Drive, Millsboro Delaware 19966

Three condos will be sold absolute, the other four have minimum starting bids of $90,000 reflecting up to a 75% discount on the original list price.

Tucked away in the Northeast, Delaware is fine place to settle down even for military homebuyers. Better yet, there is a home loan program designed expressly for service members and veterans looking for a Delaware home. VA loans in Delaware bundle several financial benefits into one borrower-friendly home financing package.
Atop the list of financial benefits that come with Delaware VA loans is the minimal down payment. Most VA loan borrowers pay zero down and finance 100 percent of their home. Sussex County, including Rehoboth Beach, has a VA loan limit of $417,000. However, the median price of a home in Sussex County is about $300,000, which allows service members the ability to find a great home within the confines of the loan limit.
Monthly payments with a VA loan tend to be lower than monthly costs of a conventional loan for two major reasons. One reason being the absence of private mortgage insurance (PMI), and the other is the negotiable interest rates. Since the VA insures as much as 25 percent of each loan, VA-certified lenders take on less risk and are willing to lower interest rates. In addition, active-duty personnel, like the 1,700 men and women stationed at Dover Air Force Base, receive caps on their interest rates.
VA loans are also packed with other services and benefits to help borrowers save money while financing their home, such as:

-No prepayment penalty.

-Refinancing options that allow homeowners to lower their interest rate.

-Services to avoid default and foreclosure.

Much to the surprise of military members, qualifying for a VA loan is easier than qualifying for a conventional loan. VA-certified lenders favor scores of at least 620, but all applicants are encouraged to apply, since it is possible to have a foreclosure or bankruptcy in your past and still qualify.
Those who may be eligible for a Delaware VA loan received a discharge that was not dishonorable and fall under one of the following categories:
-Served for 90 days during wartime and 181 days during peacetime.
-Served in the Reserves or National Guard for at least six years.
-Spouse of a service member who died in the line of duty or because of a service-connected injury.
A Certificate of Eligibility (COE) marks the first step on the path to home ownership via a VA loan in Delaware. The VA and VA-certified lenders have COE forms available. COEs are plain forms that just make sure you meet the initial eligibility requirements.
More information on Delaware VA loans, contact a VA specialist today!

A Seal in Rehoboth Beach DE

Seal in Rehoboth Beach DE March 31 2011

My family and I live on the water in the community of Seabreeze in Rehoboth Beach overlooking the Rehoboth Bay and Dewey Beach.  Imagine my surprise when I woke up this morning to find a 150+ lb seal on my neighbors jet ski dry dock.  This seal has been here now for two days and I’ve taken dozens of photos and video clips of him/her that you can view on my Facebook profile.

After some quick research online it appears we have an adult Harp Seal.  The research I did said it could be one of three varieties commonly found on the eastern coast of the united states, either Harbor, Grey or Harp.  From browsing 100’s of photos ours appears to look significantly more like a harp seal than a harbor or grey.

By: Marc Rasmussen –

Although advertising is an essential key in selling real estate, buying a home is based on local market value. Advertising an overpriced home can and will hurt the homes selling potential. The most important factor in selling a home is pricing it right. It takes experience and work to price a home in a desirable market range.

Will more advertising sell an overpriced house?

When a real estate agent gives a price opinion, that opinion is based on a comparable market value. Homes matching the property’s criteria that are available for sale, and homes that have sold within the past six months are compared to generate a viable price range. This type of comparable is done by banks and financial institutions for appraisal. When buyers are applying for a loan, it doesn’t matter if they want an overpriced home or not. No loan approval means no buyer. Factors included in pricing a home for sale are appraisal value, supply an demand, and economic structure.

Buyers look within these comparable ranges when searching for homes. Supply and demand become a key factor in this situation as well. Even in high demand areas, if a home is overpriced, chances are the buyer and buyer’s agent will not select the property for viewing. When a buyer is house hunting, catching the advertisement will arouse their curiosity. However, after comparing like homes at a lower price, buyers will direct their attention elsewhere.

Economic structure plays an important role in home selling as well. When the market is flooded with foreclosures, homes are price lower to sell quickly. This results in lower home prices for the local market. However, pricing a home strategically lower than market value, will drive more buyer interests and produce higher bids on the property through competition. Also, improvements play a key role in buyer interests as well. Standing out against the competition will attract buyers more efficiently than advertising a less competitive home or fixer upper. In a tough economy, buyers look for move-in-ready homes with little out-of-pocket expense for home repairs.

Overpricing a home generally stigmatizes it, causing the home to remain on the market for long periods of time. This can send a red flag to the buyer as to potential problems with the home/property, giving a negative first impression. Also, reducing the price of the home can make the seller look desperate causing extremely low offers and more firm buyer negotiation. Also, a buyer’s agent generally won’t place an overpriced home on their showing lists to avoid losing credibility with their buyers.

A good first impression in a buyer’s mind results in a positive and quick sale for the home seller. Achieving this first impression not only results in an updated, neat and move-in-ready home, but the homes selling price as well. More advertising on an overpriced home can only lead to leaving more buyers with a negative impression, thus buying elsewhere.

Marc Rasmussen | Michael Saunders and Company 

Many have chosen to stay close to home rather than vacation in the spring, summer and fall simply due to either economic conditions, rising costs of fuel, or just by choice. Whatever the reason, much time will be spent in the outdoors, so it’s time to get innovated and create a vacation destination right in your own backyard.

Vacation Retreat

With a bit of hard work and some time, it’s possible to make your home not only into a vacation destination, but it could just become quite the home of your dreams. An ordinary and plainly landscaped backyard can be transformed into something quite magical. First of all, one must have a plan. Draw out a plan of your dream of a backyard, a place that is calming and rejuvenating, something to look forward to come home to. Ever thought about adding additional space in your backyard by installing a deck? There are endless choices of materials to choose from for decking. Although it can be pricier, for the long-term, installing decking made out of recyclable composite materials or PVC provides maximum durability and offers the ultimate in maintenance. Tropical hardwoods including mahogany are just as durable but again, the cost of the material is rather high. If the home already has wood decking, then a bit of sprucing up the deck in regards to its care may be in order. If the decking appears dull and perhaps has a bit of mildew growth, then renting a simple pressure washer is a good idea, followed by a sealant or stain if you prefer. This will give the impression and illusion of a brand new deck and will preserve the life of the wood. Be sure to inspect the deck for cracks in the wood, or any wood rot prior to applying sealant or stain.

Another option rather than installing a deck are to lay pavers. Pavers are an excellent alternative, are available in a variety of colors and shapes, and offer a unique type of warmth and hospitality to the home. Pavers are made from an array of material such as concrete, brick, stone, slate and even marble. Before laying pavers, it is important to understand its application, as a strong foundation is essential for a successful installation.

After creating the perfect backyard scape, it’s time to think about applying a bit of personalization through outdoor décor. Think about adding a bit of maintenance-free tropicalia to your little oasis, with Christmas Palms, blooming potted bougainvilleas that frame trellises, scatter pots here and there and fill with a blend of mixed fresh herbs and vibrant flowering perennials. If financially possible, think about purchasing an outdoor living ensemble made from wrought iron or outdoor wicker. Complete the look by accenting with solid-colored cushions and contrasting pillows, or choose fabrics with tropical flair and style, add a market umbrella with a string of outdoor lights, or make the center of your outdoor escape complete with a chiminea, firepit or the charm of an outdoor fireplace.

Now that you have designed and completed the perfect vacation destination, what is the perfect way to celebrate and to share the fruits of your labor with family and friends? The ultimate barbeque, of course. Again, if it’s in the budget, investing in a good barbeque grill is a wise purchase and available in a wide range of pricing from the thirty dollar charcoal grill to a nice gas grill from two-hundred dollars to five-thousand dollars and up for an impressive outdoor grill-kitchen setup. Whatever the budget, adding the ambiance of a grill through sight and smell does wonders.

By creating a vacation retreat right in your own backyard, you create a place of escape and charm, one that is a joy to come home to, and offers a serene and relaxed atmosphere to all who come into its presence. Creating a magical vacation retreat just may make you never want to leave your home again.

Homes for sale in Rehoboth with Vacation Retreat Backyards.

It was a hot and steamy summer in Bethany Beach Delaware in 1961, when the Fasnacht family vacationed in this rustic and charming destination just off the coast of the Atlantic Ocean. Located The about twenty miles north of Ocean City, Maryland, Bethany Beach was a vacation hotspot for the those who lived in the north, and for the Fascnacht family it was a much needed break that summer from the family business called Willow Mill Park, a small picnic park in which they owned and operated in Harrisburg, Pennsylvania. Little did they know at the time during this family vacation, that a huge and unexpected business opportunity would present itself.

Funland Rehoboth Beach Delaware

While in Bethany Beach that summer, they visited the park called the ‘Sport Center’ and met the owner Mr. Dentino, in which the Fasnacht family struck up a conversation with about the business with the conversation then taking quite a twist from the ins-and-outs of owning the Sports Park to ‘do you want to buy the business’. Surprised by the possibility and challenges of accepting this new venture, the Fasnacht’s returned home, discussed accepting this offer and shortly thereafter contacted Mr. Dentino and accepted his offer to purchase the park.

The closing date was set for March 15^th, 1962 and as the closing date of the purchase was approaching, so was the immense and devastating Great Atlantic Storm of March 6^th, 1962. After the storm came to pass, both the Fasnacht and Dentino families met at the site, assessed the damages, and an agreement came to pass to work out an allowance for the destruction in which the storm had caused. From that point on the park ‘Funland on the Boardwalk at Rehoboth Beach’ came to pass, and began baby steps in its expansion by adding additional attractions and even purchased along the way additional properties that were closest to the park for their growing family.

Today, Funland on the Boardwalk at Rehoboth Beach has something for the entire family, and is a plethora of fantastic amusement rides framed with spectacularly colored lights, echoing sounds of electric music, awesome games, and the sinister haunted house, ‘The Haunted Mansion’. Rides and games are on a pay-as-you-go basis and include eighteen thrilling rides, thirteen midway games, an electronic shooting gallery, redemption center, arcade with various video games and pinball machines. The Haunted Mansion was added in 1970, and is a terrifically terrifying ride through a maze of horror with ghastly ghouls around each corner, lifeless legs dangling above, a secret passageway, a spooky graveyard with a swarm of giant rabid bats that lunge at every guest with only death on their minds, a three-dimensional head spinning in a box in another room, and more grisly and wickedness that awaits on this ride of terror. This is just a small example of the gloriously frightening moments to experience at ‘The Haunted Mansion’.

In addition to the wondrous amenities and incredible excitement that Funland on the Boardwalk at Rehoboth Beach has to offer, it has been home to the Annual Sandcastle Contest for over thirty-years. August 6^th 2011 marks the thirty-forth Annual Sandcastle Contest that will be held at Fisherman’s Beach at the north end of the Rehoboth Beach Boardwalk. Participants work in teams, for a total of one-hundred teams and include incredibly gifted sand-sculpting artisans who work tirelessly in creating sculptures with themes from sea life to swamp animals.

There is no time better than now than to visit Funland Park on the Boardwalk at Rehoboth Beach as this year it is celebrating its fiftieth-year anniversary. Festivities begin May 14^th 2011 for the event and all amusement rides will be free of charge with guaranteed fun for the entire family.

For its many years in existence, Funland Park on the Boardwalk at Rehoboth Beach has been committed to continue its tradition of old-fashioned carnival ambiance, and is devoted to preserving it as such.

Easily accessible by car, Rehoboth Beach is a popular mid-Atlantic coast resort and is in close proximity to New York, New Jersey, Pennsylvania, Maryland, and the D.C. area.

About the Author: Tim Ryan is a blogger keeping readers updated on the Naples Real Estate . Tim specializes in helping buyers and sellers in the neighborhoods of Naples Park. To learn more about Naples Park Florida visit Tim’s website.

I’ve lived in Delaware for 15 years and this is the first Seal I’ve ever seen on the beach.

A Seal on the Beach at Cape Henlopen State Park Lewes Delaware

Delaware Seal March 7th 2011

Smart Home Buyers Choose Waterfront Property

Looking to buy a home that holds value even during one of the most difficult housing markets we’ve ever seen? Waterfront property is the smart choice. But why? Why buy a home on water? What are the advantages to a waterfront home over a landlocked property? These are valid questions and I plan to outline them below.

Why Waterfront Property Is The Smart Choice When Buying A Home

• Limited Availability – Waterfront homes are actually quite common these days, but the availability of that perfect location on a gorgeous piece of land, now that’s something to lust for. If you find a home with the perfect storm of location, development, and tranquil beachfront atmosphere, you better act fast as they don’t last very long in any market.
• Unique Appeal – Who doesn’t want to walk out their backdoor in the hot summer months and hop in the boat tied up to their own private dock? I know I do. Waterfront homes have the added delight of recreation that a landlocked property can’t compete with. Not to mention a property in an ideal location on the water’s edge will hold value better than any other type of property. Thousands of dollars in added value is quite appealing don’t you think?
• Luxurious Lifestyle – Home’s on the water’s edge come with a lifestyle not seen in other property types. Many come with value added amenities creating a high-end lifestyle. Often you’ll find private golf courses, marinas, upscale restaurants, and higher end shopping facilities adding to the value of the area. The immense appeal of a waterfront property makes you feel alive, and that’s a lifestyle anyone can enjoy.
• Fun In The Sun – The best memories come from spending quality time with friends and family. Living on the water provides activities you can share with your loved ones creating those lifelong memories. You can enjoy fishing, boating, swimming, building sand castles, numerous water sports, or just watching the waves roll in. Having a good time refreshes the body and mind rejuvenating the soul, what other type of property can provide such a value?
• Nature At It’s Best – Waterfront homes provide a natural setting unseen with other property types. With lush vegetation, fresh breezes, superb wildlife, and the serenity of the water itself, waterfront homes give access to nature at it’s very finest. Living on a waterfront property allows you to immerse yourself in natures naturally beauty taking you to a simpler life washing away the day to day. Water is at the very core of life; it’s refreshing and a valuable asset to a healthy lifestyle. Buying a waterfront home is an easy choice.

Waterfront communities will always be the best homes in any market. They offer luxury, amenities, and a lifestyle not seen with any other type of property. Owning a home on water brings a number of benefits for both you and your family to enjoy for years to come. You can rest assure, the benefits of waterfront living outweighs the downfalls of the current market, so if you see the perfect waterfront property, don’t hesitate to make it your home.

Owning a house on the beach or near the ocean is a dream held by many. Oceanfront property is attractive because of the unique lifestyle it offers and the investment opportunities it can provide. Although not without certain drawbacks, owning real estate on the ocean can be extremely fulfilling either as a residence, investment property or both.

The positive aspects of actually living on the ocean are numerous. In general, it tends to be a very healthy lifestyle. First, there’s that giant natural swimming pool in the backyard. Water sports like surfing, body boarding, and simple swimming are some of the best full-body, low-impact workouts available. Walking or jogging in the sand naturally enhances our most simple and effective exercise, with amazing results. Geographically being near an ocean generally means easy access to seafood, which is a staple of a healthy diet. Living on the ocean is intellectually stimulating and very relaxing. The ocean serves as a giant movie screen displaying an endless IMAX film about the magnificent and truly awesome power of nature. It is an amazing environment to raise children, constantly engaging them both physically and intellectually. Though medical data may be lacking, no one can deny the benefits to one’s spirit and soul gained from a life on the beach. It’s no accident, according to one resident I spoke with recently, that “all of our neighbors have this happy, relaxed nature about them.” A little unscientific research lead me to a theory that the spiritual connection with water dates back to our early ancestors. Back when large bodies of water represented a lifeline for food and sustenance, the feeling of calm, security, and belonging that seems to come with living near the beach is deeply ingrained within us.

In terms of an investment, real estate near the ocean is a desirable addition to anyone’s portfolio. For all of the reasons listed above, people flock to the ocean, and the demand for a home near the beach is always very high. The age-old philosophy about land, “they’re not making any more of it” specifically applies to beachfront property. One could argue that due to erosion and/or climate change, that beachfront property is in fact diminishing, which naturally pushes up the value of existing ocean real estate. As a rental property, a home on the beach can be a great source of income in which the amount of rent you charge a tenant is limited only by demand, which during the on-season is very high. Beachfront property is generally known as a sound investment.

There are certain negative aspects that come with owning real estate on the ocean, both for investors and full-time residents. Just as the roaring ocean is the biggest draw to living on the beach, it also serves as its greatest threat. Nothing is more powerful than a storm coming in off of the sea. As anyone who has been in such a storm can tell you, it is a truly frightening experience. Immediate threats to one’s safety are the 1st to be concerned with, extremely high winds can wreak havoc on glass windows and weak foundations. If in the worst case scenario, the waters start to rise and flood your home, leave and seek safety immediately. Which leads us to the greatest threat: flooding. As recent current events have demonstrated, our weather and climates appear to be changing at a rapid rate. Personifying the fear of every beachfront property owner, harrowing home videos easily found on the internet have shown us how quickly rising waters can wipe a home completely off of the map. Many people are very uneasy with the thought that they could lose their home in literally the blink of an eye.

It’s not all a rosy picture for investors either. A beachfront property can command top dollar as a rental, but not necessarily year-round. An investor must take into account the seasonal fluctuations of demand. During the off season, there might not be a renter at all, leaving the investor to take care of maintenance and upkeep. If an investor simply assumes that rental property income will be a constant, they are in for a very rude awakening. Ah, the off season, where a beachfront community can seem like a ghost town. Granted some residents absolutely savor the peace and quiet, most consider the general shutdown during the off season a negative. It can be an isolating feeling when a once bustling beach town becomes quite desolate, where even basic local services and amenities can be hard to come by.

For some folks, living on a beach is like heaven on earth. For some investors, a home on the beach can be a cash cow. Drawbacks do exist, and a home by the ocean is not for everyone. However for an active family or a savvy investor, life truly is, a beach!

Dylan Taft is an experienced Hudson Valley real estate professional working in home sales and purchases. Visit Dylan’s professionally optimized website for more information on property taxes, and details on the Ulster County NY real estate area.

Here’s a great deal on a waterfront home in Millsboro Delaware.  Similar Homes in Lewes and Rehoboth are typicaly priced well over a million dollars.

3BR / 2.5 BA

Click the link to view additional information: Waterfront Home Millsboro Delaware

Inverted floor plan to take advantage of the spectacular views.  Sunset and Sunrise views included at no additional charge.  Close to boat ramps, golf courses, medical facilities and shopping.

Standard Disclaimer: Blog articles last forever. This information was correct according to data obtained from the Sussex County MLS the day it was post.  November 15 2010

The price on this lovely waterfront estate in the Rehoboth Beach Yacht and Country Club was just reduced by more than what an average house in the area costs.  I feel terrible for the seller but this could be a wonderful opportunity for a well qualified buyer to purchase a waterfront home located on a private golf course at a significant discount.

Click for photos and maps
172 East Side Drive

Built in 1996
4BR/3BA
3,983 SF
Situated on two acres.

Was: $2,400,000
Now: $1,595,000

National Flood Insurance Extended through 2011. NAR is pleased to report that Congress has unanimously approved a one year extension, until September 30, 2011 for the National Flood Insurance Program (NFIP). A long-term extension has been a top legislative priority for NAR. Earlier in 2010 the NFIP lapsed, causing major disruptions for REALTORS®, and with the September 30, 2010 deadline fast approaching NAR redoubled its efforts to extend the program. REALTOR® advocacy efforts helped make the long-term extension a reality.

I was curious to see what Rehoboth Beach New Construction Homes were actually selling for in relationship to the listing price. It was no big surprise that many of them actually sell for more than what they were list at.

New Delaware Home Sales Price

Why are new construction homes selling for more than the list price? Builders lure you in on a base price model and then charge you more for upgrades.

According to the Sussex County MLS these are the only new construction single family homes to sell this year (Jan 1 2010 – August 24 2010) in Rehoboth Beach Delaware.

Past events can be a good indicator of what the future may have in store.

Our MLS is slightly flawed and please take these numbers with a grain of salt. According to the Sussex County MLS only 12 Short Sales have made it to settlement this year in all of Sussex County. (Jan 1 – Aug 7 2010)

The Sussex County MLS is  showing 130 current Active/Available Short Sales.

What do we see when we compare Short Sale List Price to Short Sale Sales Price?
We find that the banks are more stingy than private home sellers.

The average private party seller is selling for about 9% below asking price, the banks on average are only taking a little more than 2% off the asking price. Add to that the fact that nearly half of the short sales were at 100% of the asking price and you will see there is significantly more bargaining room when dealing with a private seller.

Sussex County Delaware SOLD Short Sales Jan 1 2010 - Aug 7 2010

Here’s a quick update on this years “In-Town” Rehoboth Beach Condo Sales.

From January 1 – August 7 2010 there have been a total of 20 In Town “Walk to the Beach” condos sold.

Lowest sale price $225,000  1BR/1BA in The Ark six blocks to the beach.
Highest sale price $900,000 2BR/2BA 527 North Boardwalk in the Henlopen Hotel with Ocean views.

Average List price = $582,636  Average Sales Price $533,497

Average List to Sell Percentage 91.57%

The lowest list to sell percentage was 78.27%  Which means a buyer got more than 20% off the list price.
The highest was 100% which means the seller did not back down on their list price.

Please do not come to Rehoboth Beach expecting 50% off on your condo purchase because the market is atrocious in Florida. Your average buyer here is getting just over 8% off list price on their condo purchase.

Rehoboth Beach In Town Condo Sales 2010

Data for this chart was pulled from the Sussex County MLS.

This analysis does not include anything but SOLD condos placed in the “IN TOWN” Rehoboth Beach category by Sussex County REALTORS. The number of TOTAL condos sold in Rehoboth Beach Delaware is significantly higher.

19838 Church Street in Edgewater Park was reduced to $499,999 Saturday June 26 making it the lowest priced 5BR Townhome within walking distance to the beach.

On Wednesday June 23 2010 in 90+ degree heat more than 70 local Sussex County Delaware Realtors came together to help frame a home in conjunction with Habitat for Humanity.

Habitat for Humanity Summer Build

As someone who has  experience building homes it was fascinating to see people both young and old with absolutely no experience being as productive as they were.  Small teams of five to eight members consistently banged out one wall after another hour after hour in the hot summer sun.  What started out as large stacks of 2×4 lumber in the morning transformed into a good sized twinhome (duplex) by mid afternoon. You are welcome to view additional photos of the SCAOR Habitat for Humanity Summer Build on my facebook page.

Unit 516 One Virginia Ave MLS#574487

Just as a notice, the owner is ill and wants this condo sold.
He has lowered the listing price to $450,000
The owner bought this unit for $435,000 in 2003.
Appraised for $652,000 10/2008
Not A Short Sale. Wonderful Beach & Boardwalk Views. A Great Beach Getaway.

Yearly Condo Fees = $6474
Yearly City Taxes = $278
Yearly County Tax = $668
Current Summer Rental Income = $19,000

The condo is rented every week until Sept., but can be shown on Saturdays, 10:30 am to 2 pm.