May
20
2010
0

2 Million Dollar House for $1.19M

A letter from a local custom home builder:

“I am selling my house in Wolfe Pointe: I am willing to firesale the house at this point just to get it sold so I can build a house for my family.  I don’t want to build a new house on our lot until I sell the Wolfe Pointe house. Anyway, here are the details:

· The house appraised for $2.453M in November, 2007 (I can send you a PDF of the appraisal)

· The house is 6,600 heated SF and has 5 bedrooms, 5 full baths, and 2 half baths.

· The house won the Regal award for Best Custom Home over $750,000 and the National Award for Best Interior Merchandizing for a home priced over $2M.

· I had an offer on the house for $1.75M plus two weeks on a 165’ yacht that I didn’t take (yes, I am one of those dumb people who didn’t take their first offer and should have)

· I spent $1.71M on the construction of the house at my direct cost and paid $285k for the lot so I have almost $2M in the house

· The house is being sold with or without the furniture.  It includes all the TVs and media equipment (smart home, home theatre, etc)

· I am asking $1.19M without the furniture and $1.25M with the furniture.

If you have anyone who you think might be interested in my house, please let me know.  Somebody is going to get a good deal because this house can’t be recreated for less than $2M.  Because there are renters in the house, I can only give tours to serious buyers.”

This home is not currently on the MLS and you won’t find it on Realtor.com or many other websites.
Please let me know if you are a “Serious Buyer” and I will be happy to arrange a tour.

302 258 4368 - Mike Brown

May
17
2010
0

Coastal Charms - From the Wall Street Journal

Tiny Delaware’s three counties line a sliver of the East Coast from the lower reaches of the Delaware River to the Atlantic Ocean. Sussex County, the one facing the sea, is a mix of farmland and quaint beach towns, where several times each week Barbara and David Patrick walk alongside a saltwater bay for its sights and serenity.

The bay’s inlet is a wintering area for herons and ospreys. “On almost any day in winter, there will be a thousand snow geese flying overhead,” says Mr. Patrick, age 72, who retired here with his wife in 2006.

Beaches, waterways and outdoor recreation have helped make Sussex County one of the most popular retirement destinations in the Northeast. It doesn’t hurt that the area is more affordable than surrounding states (Delaware has no sales tax) and that several major cities (Baltimore, Washington and Philadelphia) are within a two-hour drive, if one needs a cultural fix.

Taking Their Time

There’s also the atmosphere of “slower, lower Delaware.” Since retiring in Sussex County from eastern Pennsylvania last June, Ron and Carol Weber have learned that no one is in much of a hurry.

“The first time I got my hair cut and highlights, it took three hours. Ron almost called the cops,” says Ms. Weber, 59, who found herself being wined and pampered. “They took all the time in the world to make it just right. Most places want to get you out.”

The Delaware shore has long been a magnet for families from the Northeast and Midwest on summer vacation. The state has preserved much of the Sussex County coastline for public use with boardwalks and bike trails. Birding, boating and crabbing, among other activities, have kept several generations of visitors pleasantly occupied.

Now, couples like the Webers, who first came here in summer, are returning in later life as year-round residents. While the county has 25 towns in all, best known are the communities along the 24-mile Atlantic seaboard—from historic Lewes in the north, to artsy Rehoboth Beach, to the quiet resorts of Bethany Beach and Fenwick Island in the south.

Gone are the days when the sleepy beach towns could turn off their traffic lights in the winter. Restaurants that catered to summer tourists are staying open, offering 2-for-1 deals in the winter, much to the delight of retirees. The county also is attracting chains, such as Harris Teeter supermarkets and BJ’s Wholesale Club.

Jay Pastore, 50, of Rehoboth Beach, still sees a lull at his art gallery in the off-season. But there’s enough activity to keep his doors open year-round, especially with events such as the Rehoboth Beach Independent Film Festival each November.

Dr. Pastore left his medical practice in northern Virginia in 2007 to become a beach person and owner of Gallery 50. Since he arrived, six other galleries have opened.

Heading Inland

To find more elbow room, and more housing for their money, more retirees are settling inland.

“The closer you get to the water, the more expensive it is,” says Dottie Wells, branch manager for Long & Foster Real Estate in Bethany Beach. Individual beachfront houses, she says, start at about $1 million.

“Most retirees don’t want to spend that much money to live waterfront.” Just two or three miles off the coast, new homes can be found in the $200,000 range. The growing number of subdivisions has some builders marketing shuttle services to the beach.

Not surprisingly, Sussex County’s popularity is proving to be a mixed blessing. The population, thanks, in part, to the influx of retirees, has jumped 65% since 1990. As a result, the local infrastructure in some cases is struggling to keep pace.

Lewes, settled in 1631 and known as the first town in the first state, recently invested in additional electric lines, a new wastewater-treatment plant and major road projects, says Jim Ford, the town’s mayor. Still, “you can’t just keep paving and paving and widening and widening,” Mr. Ford adds. With that in mind, Lewes—where the average age is 59, and transplants now outnumber natives—is considering “green” options, including a park-and-ride shuttle service, possibly running on natural gas or electricity, that would take people to the beach, shopping, restaurants, museums and other points of interest.

Doctors Wanted

Changes are evident, too, in Beebe Medical Center, also in Lewes. The hospital recently added a wing with more beds and has expanded specialties such as cardiology and orthopedics to serve an older population. A Beebe clinic just opened in Rehoboth Beach, and new facilities are slated for the communities of Millville and Georgetown. But the area is having a problem recruiting primary-care physicians.

“We are short doctors, and we know it,” says Wallace Hudson, vice president of corporate affairs for Beebe. The slower lifestyle that attracts retirees doesn’t necessarily appeal to young doctors, who want shopping, good schools and cultural attractions.

Drew Davis, who retired to South Bethany Beach in 2007 from his job as a lawyer and lobbyist in Washington, acknowledges that there are some things he misses. (Among them: good ethnic food, including Korean barbecue.) But the 63-year-old Mr. Davis, who now works part time at Coastal Kayak as a kayak instructor and guide, says he doesn’t miss the crowds.

“People actually wave at you here,” he says. “They don’t avoid eye contact, like in the city.”

The Patricks, meanwhile, fresh off a walk on the bay, say they chose Sussex County because they wanted to simplify their lives. As a bonus, they add, they have made more friends in the area than they ever did in Silver Spring, Md., where they worked for years. Says Mrs. Patrick: “We are away from our families, so we’ve become our own family.”

Oct
28
2009
1

Coastal Delaware Homes $325K - $475K

Looking for an affordable home along the Delaware Coast?

Here are a number of homes and communities to take a look at.

Broadkill Beach

$475,000 Like new 2006 3BR/2.5BA on stilts with views of the Delaware bay and state wildlife preserve. Located a block from the Beach. On stilts, elevator, bamboo floors, granite counter tops. Short Sale. The next step up in Broadkill is priced $100,000 more than this one! See all the homes for sale in Broadkill here.

Rehoboth Beach Single Family Homes - 66 Homes match your description. $325K & $475K

Nice/Popular/Neighborhoods in this price range:

Rehoboth Beach Yacht & Country Club
Annual HOA/CONDO
$175
Private Golf Club and Pool
Distance to beach (Approximate)
1.5 miles

Grande at Canal Pointe
Annual HOA/CONDO
$1880
Community Pool
Distance to beach (Approximate)
1.5

Sawgrass At White Oak Creek
Annual HOA/CONDO
$3000
Community Pool
Distance to beach (Approximate)
6 miles

Rehoboth Beach Condos - 73 townhomes match your description. $325K & $475K

Spring Lake
Annual HOA/CONDO
$3000
Distance to beach (Approximate)
1 mile

Sea Chase
Annual HOA/CONDO
$3240
Distance to beach (Approximate)
3 miles

The Seasons
Annual HOA/CONDO
$2000
Distance to beach (Approximate)
1.5 miles

The Tides
Annual HOA/CONDO
$2964
Distance to beach (Approximate)
1.5 miles

Sanibel Village
Annual HOA/CONDO
$3950 - $4800
Distance to beach (Approximate)
1 mile

Versailles
Annual HOA/CONDO
$3200
Distance to beach (Approximate)
1 mile

Keys of Marsh Harbor
Annual HOA/CONDO
$1400
Distance to beach (Approximate)
1 mile

Edgewater Park
Annual HOA/CONDO $
2900
Distance to beach (Approximate)
3/4 mile

ARK
Annual HOA/CONDO
$3119
Distance to beach (Approximate)
½ mile

Sterling Crossing
Annual HOA/CONDO
$2160
Distance to beach (Approximate)
3 miles

Blue Point Villas
Annual HOA/CONDO
$4560
Distance to beach (Approximate)
1 mile

LEWES Single Family Homes - 108 Homes match your description. $325K & $475K

Villages of Five Points

Distance to the Delaware Bay (Approximate)
1.5 Miles
Annual HOA/CONDO $
1000

Pilottown Village

Distance to the Delaware Bay (Approximate)

1 Mile
Annual HOA/CONDO
$80

Plantations East

Distance to the Delaware Bay (Approximate)
3 Miles
Annual HOA/CONDO
$736

Joy Beach

Distance to the Delaware Bay (Approximate)
9 Miles
Views of the Rehoboth Bay

Annual HOA/CONDO $0

Henlopen Landing

Distance to the Delaware Bay (Approximate)

3 Miles

Annual HOA/CONDO $800

Bayfront at Rehoboth
Distance to the Ocean (Approximate)
10 Miles
Distance to the Rehoboth Bay
1 block or less
Annual HOA/CONDO
$ unlisted

Lewes Condos - 43 townhomes match your description. $325K & $475K

Savanna Point

Annual HOA/CONDO $3000

Breakwater

Annual HOA/CONDO $2000 - $3000

Village of Five Points

Annual HOA/CONDO $1504 - $2064

Captains Quarters

Annual HOA/CONDO $3869

Lewes Harbor

Annual HOA/CONDO $2108

Dewey Beach Single Family Homes - 1 Home matches your description. $325K & $475K

0 bedroom / 0 bath shack $349,000

Dewey Beach - 22 condo/townhomes match your description. $325K & $475K

Opal

Annual HOA/CONDO $3624

Walk to the beach

Marina View

Views of the Bay, Walk to the Beach

Annual HOA/CONDO $3950

Rainbow Cove

Views of the Bay Walk to the Beach

Annual HOA/CONDO $2900

If you need 3 or more bedrooms it narrows the search to just 7 properties.

Bethany Beach 25 Homes match your description. $325K & $475K

One canal front home 552268

One waterfront ranch with a 99 year renewable lease $399,000

Salt Pond

Annual HOA/CONDO $1068

miles to the beach 1.5

Turtle Walk

No fee listed.

Miles to the beach - 2

Bethany 22 condo/townhomes match your description. $325K & $475K

Most if not all are at least 1 – 2 miles from the beach

Sea Colony

Large community Some Ocean Front Some 1.5 miles from the beach.

Annual HOA/CONDO $5000 - $12,000

BAYBERRY WOODS

Annual HOA/CONDO $3300

STEWARDS WATCH

Annual HOA/CONDO $3500

SALT POND

Annual HOA/CONDO $2472 - $3300

LOGGERHEAD

Annual HOA/CONDO $1809

BETHANY SHORES

Annual HOA/CONDO $3392

BAHAMAS BEACH

Annual HOA/CONDO $1220

Fenwick Island - 4 Properties match your price range:

Written by Mike in: Coastal Delaware Homes |

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