I agree with you, now is the time to pay attention. Smart buyers make their purchases when the market is at it's lowest, which we certainly are now. Having said that, it's difficult to time any market...stocks, bonds, real estate, etc. Will prices go down a little more in 2009? Maybe. But not at the rate we have seen in the last 18-24 months. If you purchase now or soon from now, and plan on keeping your investment for a minimum of 5 years it won't matter if you did not exactly time when the market was at it's very lowest.
There are 36 (3) bedroom townhomes and single family homes currently for sale in Bear Trap. The lowest list price is $279,900 for a 3 bdrm townhome. 16 (3) bedroom properties have sold in Bear Trap in 2008. The lowest sale price as reported to our Multiple Listing Service was $300,000 for a 3 bedroom townhome.
You can run your own searches in Bear Trap right now from my web site. We provide you with a link to the Sussex County Association Multiple Listing Service. http://www.Ocean-CitySales.com
Bear Trap has not been affected any more or less then any other community in our area. The Eastern Shore of Delaware and Maryland, as defined by HUD (Housing and Urban Development) is not considered a "depressed market" in comparison to national standards.
However, yes, there are good buys to be made.
Come on down, I'll by happy to help. Feel free to contact me.
Coldwell Banker Real Estate
Licensed in Maryland and Delaware
From this review I find many properties at Bear Trap are over priced with respect to this approach. There are good deals out there - but not all properties/sellers have adjusted themselves to the reality of our market.
I think Bear Trap is unique - a completed resort with indoor outdoor pools, dining, tennis, activities, beach shuttle and pretty reasonable HOA fees for all that stuff. It's a class act but not all properties are priced attractively.
If you want to hear more about my review or have me send you the absorption rates for home type feel free to call or email me. Anne Powell 302-541-8897 or email@example.com or via my Web site http://www.AnniePowell.com.
By the way I have the lowest priced end town listed right now - with established rentals - if you want to know the details let me know!
We have a townhome in Bear Trap. It has rented very well in the past for Golf as well as the summer. We are interested in selling. If you are still interested in buying please let me know. The community is very nicely kept and friendly.
25 townhomes/condo shave sold this year in Bear Trap, the average days on market is 181 days and the average list to sell ratio is 6%. Only 2 have sold this year below 300k and none for 20% less than list price. I will be more than happy to email these stats for your review. Bear Trap is a great community offering one of the most comprehensive amenity package in the beach area.
Coldwell Banker Residential Brokerage
39682 Sunrise Court
Bethany Beach, DE 19930
The last link will let you break the reports down into neighborhoods or zip codes if you like. Also includes crime statistics, community info. Both sites show market conditions and are based on public records.
Lastly reading some of these articles might help you form an opinion on if it's true we hit bottom.
Best of Luck, Dunes