For those of you who don’t know, when I’m not busy selling real estate I’m busy building websites for other real estate professionals.  SVNDELMARVA is our latest project.  Sperry Van Ness Commercial Real Estate is coming to town and I’ve got to have their new website ready for the grand opening in just 4 days.  Preview our progress at svndelmarva.com

Here we have a video of sunrise over the Delaware Bay taken from the townhome community “Port Lewes”

The bay front townhouse community of Port Lewes features 120 three story units with 3 bedrooms and 2 1/2 baths. The community is a short walk from both Cape Henlopen State Park and Lewes public beach. Port Lewes amenities include a private beach, small boat storage area, fishing pier, tennis courts, and a community pool. Parking space for two cars is located below each unit. Most of the homes have an outdoor shower and decks on both the front and back of the unit.

Prices traditionally range from the mid $500,000’s – $900,000 depending on the views.

Give me a call if you would like to see any of the available units in person.

Mike Brown 302 258 4368

Realtors are always saying “the time to buy is now”

Well, this time it may actually be true. This is  honestly an incredible price.

Originally settled for $592,000 in 2005 – NOW LISTED AT $399,000 for a 30 day settlement.

MLS #564000  Click this link to learn more about The Peninsula

This is not my listing but it is a pehenominal deal.

Offer is subject to 3rd party approval.

UPDATE: They have wiped it out of the new bill, this will not be part of the bill.

Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said.
The Senate today approved an $838 billion economic stimulus bill that includes a $15,000 homebuyer tax credit, just hours after President Barack Obama’s new Treasury secretary unveiled a multitrillion-dollar financial stability plan that includes $50 billion for foreclosure prevention programs.

A $15,000 homebuyer tax credit, higher loan limits for Fannie Mae, Freddie Mac and FHA, and government spending to lower mortgage rates are all in play as Congress and the Obama administration near agreement on an economic stimulus bill and financial stability plan for banks.

The Senate today approved an $838 billion economic stimulus bill that includes a $15,000 homebuyer tax credit, just hours after President Barack Obama’s new Treasury secretary unveiled a multitrillion-dollar financial stability plan that includes $50 billion for foreclosure prevention programs.

The financial stability plan may also lead to an expansion of existing efforts by the Federal Reserve to drive down mortgage interest rates by buying mortgage-backed securities and debt issued by Fannie Mae, Freddie Mac and Ginnie Mae.

The version of the economic stimulus bill passed by the Senate in a 61-37 vote relies less on government spending and more on tax cuts to kick-start the economy than the version passed by the House Jan. 28 (see story). Only two Republicans voted for the bill in the Senate — Sen. Arlen Specter of Pennsylvania and Maine’s Olympia Snowe — and all 37 “no” votes were cast by members of the Grand Old Party.

Differences between the two versions of H.R. 1, the American Recovery and Reinvestment Act of 2009, must now be ironed out in a conference committee.

The House version of the bill would restore the upper limits for Fannie Mae, Freddie Mac and FHA loan guarantee programs to $729,750 in high-cost housing markets, where they stood for much of 2008 before being reduced to $625,500 — a step endorsed by many real estate industry groups.

The House version of H.R. 1 also contains another provision backed by the housing industry — elimination of the repayment requirement on an existing $7,500 tax credit for first-time homebuyers that is scheduled to sunset on July 1. But the Senate version of H.R. 1 would go farther, increasing the tax credit to $15,000 and allowing all homebuyers purchasing a principal residence within a year of the bill’s enactment to claim it on their 2008 or 2009 returns.

The National Association of Home Builders welcomed the Senate’s move, saying a $15,000 tax break for all homebuyers could generate nearly 500,000 home sales and create more than 255,000 jobs.

See the entire story HERE

My wife and I were extremely busy with buyers this weekend.  For us Saturday & Sunday resulted in four offers being written and as of today (Tuesday) two ratified contracts and possibly another two before the week is over.  We even encountered a bidding war on a home that has been on the market for over a year.  Hallelujah! The local market is picking up again and I won’t have to sell my Grandmother to the highest bidder on Ebay in order to pay the electric bill.

Village of Cinderberry Clubhouse

While  I was out showing homes on  Saturday I discovered a hidden gem located in the center of Georgetown. True, the location is a good half hour drive from the boardwalk but at this distance from the beach you don’t have to worry about tidal waves.  The name of the community is the Village of Cinderberry The Village of Cinderberry is a 50 and over community of approximately 170 homes and as of this writing (Feb 10 2009) about 80% occupied.  New construction homes are still available but if you are looking for the real bargains take a look at the re-sales. The median re-sale price in the community is $244,900 but currently the  least expensive home is  a real steal at $176,900.  6 Bayberry Street is a 1425 SF 2BR/2BA home with a single car garage in a beautifully maintained 50+ adult community with a very nice community center featuring an indoor pool, athletic center and huge auditorium for community events.  Pre-owned three bedroom models are available with asking prices starting around $234,900 Yard maintenance, community center upkeep, cable tv and internet service are all covered under the HOA fees.
For questions about this active adult community please contact me at 302 258 4368.

Dad always said “If it sounds too good to be true – it probably is.”

This old saying certainly applies to many of the Properties in Dewey Beach.  During the summer months I receive almost a call a day about the $200,000 homes located just a block or two from the Ocean in Dewey.  While it’s true that you can find a handful of homes and townhomes in this price range in Dewey Beach on my website, very few visitors read the fine print which often states “These are not fee simple properties”.  Because these properties are not fee simple the owner of the structure is usually not the owner of the land below the structure. Many of these properties only have a small amount of time left on their original leases.  If a property mentions “Rehoboth by the Sea” and is priced much lower than the other properties in town there is a good chance it is on leased land and may only have a short amount of time left on its lease. This may be a buyers market but I have not yet seen any ocean block properties priced under $300,000. There are always exceptions to every rule but if it looks too good to be true it probably is.

On February first 2009 the 18th annual Polar Bear Plunge held to benefit Delaware Special Olympics went off without a hitch. I’m not sure what the official count was but there were thousands of people in attendance and hundreds if not more “Plungers”

The water temperature was a chilly 37 degrees while the air temp was only slightly warmer at 55 degrees.

The State Governor and Miss Delaware were in attendance.

This year’s plunge raised $490,000

Why it’s called the Lewes Polar Bear Plunge but held in Rehoboth is a mystery to me but I’m sure there is a reason for it.

The Lewes Fire/Rescue team put on a great show with their water cannons and kept an eye out for  swimmers who could be overcome by the surf or the cold temperatures.  I saw at least two members of the fire /rescue team in dry suits monitoring the plungers activities from the frigid waters.

I personally shot an hour of video footage of the event that I will post as soon as I find time to edit it and I’ve got hundreds of photos  that I will be uploading to flickr.