I think the signal, iin my opinion, is indicative of the profile of the property owner in Bethany Beach. For the most part they are "well-heeled", husband and wife both working, from the Washington Metro area, a very stable job market,, will come off their price to a certain extent, but not to the point that buyers think they should . There is a disconnect between what buyers will pay, and what sellers are willing to reduce their price to.... and this is one of those markets.
I sold a home right on the cusp of the ocean in Bethany Beach in september of 2006. At what some would call the height of the market! 1.25 million - 6 beds - 4.5 baths - short family walk to the board walk. Would that be a good deal today? Now it would be much less - under a million mabye?
So whatâ€™s your long term goal. Now is the time to set your priorities and buy if you can. In 3-7 years you'll be a happy man...
If you would like more information and a list of good buys in Bethany Beach, DE please feel free to drop me a line at TheRoops@TheRoopGroup.com
Also, for information on foreclosures and to answer your questions about the short sale or the foreclosure process contact my partner Joel Maher at http://www.JoelsFORECLOSURES.com
78 properties have sold in Bethany, South Bethany & North Bethany since September and there are 21 properties under contract. Days on market is indicative of the current market conditions and granted that there are a number of properties that may be over valued there are a great deal of values available. Communities like Bethany Proper, Bethany West, Bayberry Woods have shown adjustments to the market conditions and there is a single family in Bethany for under 350k, a Oceanfront in Bethany is under contract and the list price was below 2 million comparing that to an Oceanfront lot that sold in the summer for 3 million. If you have a specific property in mind please contact me anytime.
Bethany Beach, DE 19930