Rehoboth Beach Real Estate News

Conforming Loans (up to $417,000)
30yr Fixed 5.375% 0 points 5.00% 1 point
15 Yr Fixed Rate 4.875% 0 points 4.50% 1 point
For Condos with less than 25% down payment (or equity if a refi):
30yr Fixed Rate 5.50% 0 points 5.25% 1 point
***We do warrantable and non-warrantable condos***
Long Term Rate Locks Available
Lock your rate for up to 12 months while your new home is being built
FHA primary residence only, 3.5% down payment 30yr fixed
5.25% 0 points 5.00% 1 point
**County Limits for FHA have been raised again**
$375,000 in Sussex County $376,250 in Kent County
Jumbo (loans over $417,000) (3% Seller contribution allowed; 20% down)
30 Yr Fixed 6.625% 0 points 6.00% 1 point
Lot Loans 10% down payment up to $500,000; Payment based on a 20yr fixed
3yr ARM 6.00% w/ 1 point
5yr ARM 6.25% w/ 1 point
no time restrictions to build; fully amortize in 20yrs; loan amounts under $250,000 = 1.5 points
(seller is allowed to pay points)
Manufactured Homes
Must be on it’s own land, double-wide, built after 1978
10yr ARM (rate is fixed for 10 yrs) 5.625% 1.5 Points
25yr fixed rate 6.375% 1.5 points
*** If it is a PRIMARY RESIDENCE: FHA 5.75% 0 points***
USDA Loans NO MONEY DOWN! NO Monthly PMI!
-30yr fixed rate; Must be primary residence
-Single family, condo, new manufactured homes are allowed
-Income limits and debt-to-income ratio limits apply
-Seller may pay closing costs -No money down
5.50% 0 points 5.25% 1 point
Lock your loan with Tidewater Mortgage and receive up to $2000 to apply toward your
settlement costs or rate buy-down! Co-broke transactions included! Call for details; some
restrictions apply.
Rates and programs are subject to change without notice; Based on 06/29/2009 rates
Rates may vary for different property types, lock terms, or credit scores

Woods Cove has been the lowest priced condo community in Rehoboth Beach for the last six months or so and even in a lackluster market they have been selling well. While this community is by no means a walk or even bike ride to the Ocean it is just a short 10 minute drive to either the Rehoboth Beach Boardwalk or Cape Henlopen State Park in Historic Lewes Delaware. With no pool or clubhouse to maintain the Condo fees are also some of the lowest in the area.  If you are looking for the least expensive new construction comunity in Rehoboth look no further, you can search near and far but you will not find a lower price than this.
Prices: Immediate Delivery2BR/2BA 1186 sq ft 1st floor unit 1 car garage enclosed veranda $241,260

3BR/2BA 1694 sf 2nd floor unit 1 car garage granite countertop enclosed veranda $262,916

As always prices are subject to change. These prices were curent the day this post was made (June 18 2009) but this blog article will remain on the website for years.

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Rehoboth Crossing Townhomes,  located just over 1 mile from the Rehoboth Beach Boardwalk has lowered the price on one new construction unit to $289,900 for “This weekend Only”

I’m not a big fan of Sales Gimmicks and “This week only sales” but this is indeed the lowest price Rehoboth Crossing townhomes have ever been offered at.  If they sell one this weekend it may really turn into a “This weekend only” deal but if they don’t I’m sure we can get the same price or better next week.  The only reason to rush is that interest rates have been creeping upward again and we may be at or near the bottom of the market in which case prices may begin to climb and this may indeed be your only chance to pick one of these up at the low price of $289,900

What are they offering?

Beautifully appointed 3 BR, 2-1/2 bath townhome within walking distance to Rehoboth’s shopping, dining and the boardwalk. Granite Countertops, Upgraded Maple Cabinets, Fireplace, G.E. Stainless Steel Appliances, Deck off Master Bedroom and Screened Porch are just a sam­pling of what’s awaiting your arrival.

See other Rehoboth Crossing Townhomes at this link

If you would like to look at these this weekend or in the near future please give me a call at 302 258 4368

16 Wades Court in Canal Corkran,  Rehoboth Beach  was lowered from $1,049,000 to $899,000 today.
This is a 4800 square foot home. You can view some of the details at the following link:
Canal Corkran Short Sale

Please call me for additional information or to set up an appointment to view this home.

302 258 4368

For those of you waiting to see 4% interest rates, it’s not going to happen.  This week rates have climbed back up to the mid 5’s which are still historicaly low.