AUCTION
Saturday, September 10 at 1PM
Dewey Beach – 13 Three Bedroom Two Bath Condos
Minimum Bids From $85,000
Previously Asking $450,000
Highlights and Features
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▪ Your family weekend retreat or great rental opportunity… Your Choice! |
Call Mike Brown for Details 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.
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