MLS#561112 Asking Price $1,099,000 Sold $960,000
Waterfront, Cape Cod Style Single Family home
Rehoboth Beach Yacht and Country Club
111 Kingsbridge Road
Rehoboth Beach DE
MLS #553092 Asking Price $1,200,000 Sold $1,000,000
Colonial Brick Home
Henlopen Acres
92 Tidewaters
Rehoboth Beach Delaware
MLS# 558431 Asking Price $1,150,000 Sold $1,050,000
5 Bedroom – 3 car garage Single Family Home
Kings Creek Country Club
7 Wolf Pit Court
Rehoboth Beach DE
The 30 yr fixed rates dropped today to 4.875%
This is based on a 30-45 day lock for a primary or 2nd home.
So what does this really mean for home buyers?
Lets say you are interested in a $375,000 home.
Using a simple mortgage calculator $375,000 with zero down (unrealistic) for 30 years at 5.5% gives you a payment of $2129.21 a month. If we drop the rate to 4.875% it brings the monthly payment down to $1984.53 a month, saving you $144.68 monthly, $1736.16 a year or $52,084.80 over the life of the loan.
Realistically, lenders are looking for anywhere between 10% and 20% down on most home loans.
If you are looking for a Mortgage Calculator try out the one on our sister site Delaware Waterfront Homes
Simply enter the the MLS # you are interested in and play around with different rates and down payment amounts.
Delaware has a 3% transfer tax on property purchases. Typically the buyer pays half while the seller picks up the tab for other half.
(**condos with less than 25% down will be higher)
Post on March 19 2009.
If today is not March 19 2009 these rates may no longer apply.
When people think of the beach they rarely think SNOW, but snow is what we had late Sunday night and a good portion of Monday morning in Rehoboth Beach Delaware. From listening to the local radio station I was informed that schools and State Government offices were all closed. Being from Michigan and having lived in Colorado, Northern California and even Alaska this storm was mild but the locals certainly thought otherwise. My trusty Jeep and I drove to the office just like every other day only to find a handful of other die-hard Realtors busy at work even though the office was officially closed. Kim Hamer, Vicki Tull and Justin Healy were just a few of the brave souls who tempted fate on the slippery roads. Snow in Rehoboth is so rare that I took a few photos to prove that it really happened.
Snowy Rehoboth Beach Boardwalk
Ocean Atlantic Sotheby's
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