Sounds like you got your answer. This property is pretty close to the beach and it would warrant consideration in this price range. Keep in mind if you are planning on buying in a community with a condo or homeowner's association, and are looking to obtain conventional bank financing, you have to be aware of problems that would prevent Fannie or Freddie from approving the loan.
The secondary mortgage market has had their underwriting criteria dramatically tightened in light of all the current banking problems. You need assistance to navigate thru sometimes challenging waters.
The home less than 1 mile to the beach, beautiful community with a pool, views of the Salt Pond, homes are very spacious (3000-3400 sq. ft.) and the builder is throwing in a lot of upgrades. If you are looking for something closer to the beach Bethany Proper is 2 blocks to the beach, not new but similar price range.
Bethany Beach, DE 19930