Mhiggins21, Home Buyer in Bethany Beach, DE

We're looking to buy a condo/TH in Bear Trap Dunes for family use and as a vacation rental. We've

Asked by Mhiggins21, Bethany Beach, DE Fri Aug 28, 2009

seen asking prices drop noticeably in recent months (lowest asking has gone from 320 to 279K in six months for a 3/2), and there seem to be tons of properties on the market (more than 40, from a quick count). What's the average d.o.m? Have any gone condos recently gone for 20% less than asking, or even less than that? How are economic conditions affecting the community? Basically, we can afford to wait and let prices drop even more but are starting to pay more attention now that it's squarely a buyer's market.

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Adam & Harry Roop’s answer
You better be buying in this market. Its going to be a long winter and buyers want to get the inventory off their backs. What else is there to say? Regardless of DOM, % drops, and economic conditions have you ever seen prices this low in Bethany? Prices will be begin to rise...just dont wait for the interest rates too...get on the ban wagon and get cannot afford to wait until properties go back up...once they start to you wont have as much negotiation room as you do now! Lets make an offer...

Adam Roop
EXIT Shore Realty
1 vote Thank Flag Link Fri Aug 28, 2009
Hi ,

If you are still in the market for a home in Bear Trap, now is a great time. Interest rates are at a historic low, tax credit and prices are down make this a great time to buy. Sellers are starting to price their home according to the current market condition and not '04.

Buying or Selling call today.

Brendan Garfield Crotty

(302) 858 - 3234

President Southern Sussex Rotary



ResortQuest Real Estate
(302) 541 - 8778
(302) 539 - 8600
33012 Coastal Highway
Bethany Beach, DE 19930
0 votes Thank Flag Link Sat Jan 16, 2010
We have been in a Buyer's Market here for the past two years or more. It took some Sellers a while to realize that their asking prices were too high and finally many adjusted them to more accurately reflect the market. I am working with Buyers this weekend and we are looking at condos and townhouses in the Bethany/Ocean View areas. As a friend of mine said the other day, in a market like this there are opportunities and then there are deals. There is no better time to take advantage of the deals than right now. By next year interest rates will have gone up and prices will not be significantly different than what you could negotiate right now if you are qualified buyers. The pace of sales has dramatically increased this summer. I have 8 settlements between yesterday and the first week of October. If I can be of help, please get in touch. You can search all listings, regardless with whom the property is listed at our web site. My cell is 302-542-1203.
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0 votes Thank Flag Link Fri Aug 28, 2009
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