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MESSAGE FROM LESLIE
Just a few days ago, the leading financial analytic company, Fiserv, predicted that there would be a third leg down in housing prices, focused heavily on the weak markets of Miami and Naples in Florida, and Las Vegas. The question, of course, is whether that forecast will also include our beach markets. However, as noted before, the Bethany/Fenwick markets, incorporating the towns of Bethany, South Bethany, and Fenwick as well as the several communities in North Bethany, do not lend themselves to a national housing forecast. Our buyers come from the relatively affluent areas of the suburbs of Washington DC, Philadelphia, Baltimore and Wilmington. Macro numbers in these cities are comparatively stronger than many other regions.
While the fall market started slower for us than I would have liked, it has continued nicely into November. Every weekend we are having showings with offers being written. In addition, I am seeing price resistance, not from buyers this time but from sellers. While buyers continue to expect price concessions, sellers are increasingly walking away from low offers. It is harder to get deals done now. The gap between asking and selling price is narrowing even though there will always be an unrealistic seller or two. Accordingly, I do not expect much further price erosion and those that do take place are likely to be seller-specific rather than market driven.
Written by Leslie November 2, 2011
%203.JPG "5 Seaside Villas (28) 3") |
5 Seaside Villas - $1,030,000
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35199 Hassell Avenue - $795,000
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LePointe Drive, Lot 16 - $495,000
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PRICE CHANGES
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147 Brandywine Drive
This Bright And Cheerful Canal Front Home Was Remodeled And Expanded In 2003. It Offers A Spacious Great Room And Patio Overlooking The Water With Boat Dock And Jet Ski Hoist. |
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31271 Sandpiper Road
Integrating Traditional Cottage Architecture With All Of Today's Modern Luxuries, This Lovely Ocean Front Home With A Large Open Great Room, Multiple Porches And Sensational Ocean Views Is Situated On An Uncrowded Beach Close To Town. |
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780 Half Moon Drive
Short Sale! You Don't Want To Miss This Charming Home In Bethany Located Conveniently To The Community Pools, tennis Facilities, And The Town's Beach Trolley. A Perfect Home For Year Round Living Or For Summer Vacations At The Beach. |
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38844 Old Lighthouse Road
BRAND NEW bayfront home with elevator, boat dockage, and wonderful panoramic views. Boater's paradise, and for those beach lovers only minutes away from the ocean in Fenwick Island. Only 1 of 2 remaining. |
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WHAT'S HAPPENING
Beach Replenishment Again in S. Bethany ~ Coastal Point |
INTEREST RATES
Conforming:
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 Pam Adkins 302-858-7997 |
 Leslie Kopp 302-542-3917 |
 Wayne Lyons 302-858-7347 |
The Leslie Kopp Group Long & Foster Realtors, Inc. | 33298 South Coastal Highway Bethany Beach, DE 19930
Office: 800-851-8997 Leslie's Cell: 302-542-3917 Pam's Cell: 302-858-7997 Wayne's Cell: 302-858-7347
