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Home Buying in Bethany Beach : Real Estate Advice

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  • Home Buying13
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Activity 13
Tue Aug 26, 2014
annasails answered:
Thu May 29, 2014
Debra (Debbie) Rose answered:
FEMA sets the rates for required flood insurance.
FEMA is a bit confusing these days as the rules keep changing.

That being said...........

The only way to try to "improve" rates, if that's possible........... would be to have an "elevation survey" done ($500 - 900 here) and then apply to FEMA for what is called a LOMA (letter of map amendment).

If the home is in a designated flood zone - the lender will require insurance.
If you're paying cash, then whether you have insurance or not is up to you.

Your agent can check to see what type/level of flood zone the home is located in.... once you have that information - you can then call any insurance company that handles flood insurance for a quote .
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Wed Mar 26, 2014
Shannon Smith answered:
Hi McShaffer91,
809N Annapolis
County Tax $ 660.00 (approx)
Sewer $ 258.00 (Approx. $64.50 / Qtr.)
Condo Fee $ 2,460.00 ($615.00 Qtr. 2013/14 )
Long Term Reserve $ 1,112.00 ($278.00 Qtr. 2013/14 billed w/condo fee $893.00 )
Rec Fee $ 2,272.00 ($568.00 Qtr. 2013/14)
Ground Rent $ 1,501
*Utilities $ - ** Depends on Usage
*Personal Contents Insurance $ - ** Varies
Total $ 8 ,237.00
Monthly Charge $ 686.42

You can reach me at 302.344.0500 or lovebethanybeach@gmail.com
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Sat Oct 26, 2013
John Thomas answered:
Your premiums are going to go up, A LOT! The idiots in Congress who drafted this bill had this response "We never intended the premiums for flood insurance to go up that much" Your best bet is to call your Congress person and ask them about drafting a bill to fix the flood bill that passed.

John R. Thomas
Certified Mortgage Planner - NMLS 38783
Primary Residential Mortgage, Inc.
302-703-0727 Office
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0 votes 1 answer Share Flag
Sun Apr 14, 2013
Jill Donohue answered:
Thank you for interest. There is No ground rent. Condo fees cover exterior building maintenance building insurance common area maintenace including pool and tennis court. $4200 Year. Please contact me directly to make this home yours. Jill.Donohue@longandfoster.com ... more
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Sun Apr 14, 2013
Brendan Crotty answered:
By the way, the condo fee was just raised recently in Sea Colony. Contact me for more information about any property in the area..
0 votes 4 answers Share Flag
Wed Apr 10, 2013
Joyce Henderson answered:
Generally on beach resale properties, the seller does not contribute to the closing costs. But I have seen sellers contribute about 3% for first time home buyers.
0 votes 9 answers Share Flag
Sun Dec 30, 2012
Oldfather Group~The Coastal Specialists answered:
From our conversations with our REO agent associates there should be the largest waive of the remaining shadow inventory hitting the shores in the first half of 2013. Lowest Interest Rates in history. Highest Affordability Index in History. Some of the lowest real estate taxes in the country, and there is still some wonderful inventory. Although well priced turn key homes are selling quickly with multiple offers. (Even on the Ocean) If you find something, pull the trigger.

Warm Regards,

Dustin & Mariya
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0 votes 8 answers Share Flag
Sun Dec 30, 2012
Oldfather Group~The Coastal Specialists answered:
Sun Dec 30, 2012
Oldfather Group~The Coastal Specialists answered:
The learning curve for real estate and complementary industries seems to be a thing of the past and everyone has adapted to this new well conceived set of disclosures for the public. In over 50 transactions last year, I can't think of one which was held back by DUCIOA docs. However, there are financing challenges for communities with a high percentage of investor owners.

Warm Regards,

Dustin
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0 votes 4 answers Share Flag
Thu Sep 23, 2010
Brendan Crotty answered:
Hi,

The Fee is an annual fee that covers the amenities, there is a annual HOA, which varies depending on the home in Sea Colony. Also, there is Ground Rent, Sewer/Water and electric. If you have a specific type of property in Sea Colony East or West, I would be happy to go over the expenses, and potential rental income. Please contact me directly.

Thank you,

Brendan Garfield Crotty

Cell (302)858-3234

President Southern Sussex Rotary 2009 - 2010

E-mail: Brendan@BrendanGarfieldCrotty.com

Website: www.BrendanGarfieldCrotty.com

ResortQuest Real Estate
(302) 541 - 8778
(302) 539 - 8600
33012 Coastal Highway
Bethany Beach, DE 19930
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