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Home Buying in Millsboro : Real Estate Advice

  • All76
  • Local Info10
  • Home Buying31
  • Home Selling3
  • Market Conditions0

Activity 31
June Buerkle, Home Buyer in Chattanooga, TN
Tue Jun 21, 2016
June Buerkle answered:
Call the number on the For Sale sign ... that should connect you to the person with the most current information.

Website usually lag behind reality by a few days or weeks.
0 votes 1 answer Share Flag
MCM_STL, Home Buyer in Saint Louis, MO
Tue Jun 21, 2016
MCM_STL answered:
Chances are, you're looking at a house that has a purchase contract on it. Most agents don't remove their yard signs until the sale has been completed. If it is far enough along in the process to be shown as "off market" online, your chances aren't great but there's no reason why you couldn't have your agent reach out to the listing agent about the possibility of submitting a back-up offer. ... more
0 votes 1 answer Share Flag
Ghomesplus2, Home Buyer in New York, NY
Sat May 14, 2016
Ghomesplus2 asked:
Fpatrucker, Home Buyer in New York, NY
Wed Mar 2, 2016
Fpatrucker asked:
I own land and a mobile home on it with no lot fees. I want to buy a modular home in a community with lot fees and remove the home and put it on my land I own and replace it with my current…
0 votes 0 Answers Share Flag
Michael Gele…, Real Estate Pro in Bethany Beach, DE
Thu Aug 20, 2015
Michael Geletej asked:
shirl21921, Renter in Millsboro, DE
Sat Mar 28, 2015
shirl21921 asked:
Peter Walling, Real Estate Pro in Rehoboth Beach, DE
Sun Jul 27, 2014
Peter Walling answered:
There are two aspects related to understanding the value of Baywood land leases: the value of the amenities included in the lease and the savings associated with not needing to purchase the land. In almost every Buyer's scenario, Baywood residents are "cash positive" when leasing the land when compared to communities wherein you need to purchase the land.

As a Baywood resident for the past 10+ years, the amenities are outstanding. HOA fees in nearby communities for comparable amenities ranges from $4K to $6K per year. If you happen to be a boater, the value is even greater since Baywood residents can lease a slip in our sister communities for $950 per year versus $3K or more for a private boat slip.

In terms of the savings associated with not needing to buy the land, this varies based upon whether you're a cash buyer or need financing. The following is a good rule of thumb for understanding the value of an improved lot in a comparable community: Interior lots are valued at approximately $100K; wooded and/or pond view lots are worth $200k; and golf course lots are worth $300K and up.
My lot is a private wooded lot and I'll use the $200K for this example. For cash buyers, that's $200K
that you retain in other investments and over time, a conservative investment portfolio should average a 5% to 7% return. That's $10K to $14K in yearly income. Wooded and pond view lots have an average lot rent of $9,500 annually. So, between the value of the amenities you receive and the return on your investments, paying land rent in Baywood is the best deal around.

We needed financing when we purchased in Baywood and by not needing to finance the cost of the land, we were able to go with a 15 rather than a 30 year mortgage. The differential in principal paid on a 15 versus a 30 is huge. For buyers needing financing, they too have a cash positive experience by purchasing in Baywood.

Run the numbers and see for yourself!
... more
0 votes 5 answers Share Flag
Liza Atmaca, Home Buyer in Chicopee, MA
Sun Mar 30, 2014
Liza Atmaca answered:
THINKING THE SAME THING...
0 votes 1 answer Share Flag
Susan June, Home Buyer in Long Neck, DE
Mon Mar 10, 2014
Susan June answered:
I agree with you......one would wonder why it hasn't sold. And you should be able to find out the answer to your question. There might be absolutely nothing wrong with it, however, it could have a flood or another issue that they're not being forthcoming with. ... more
0 votes 1 answer Share Flag
Crystal Spar…, Real Estate Pro in Millsboro, DE
Fri Mar 7, 2014
Crystal Sparks answered:
I have a class C three bedroom home with a large deck on the front and screened porch on the back- it has an oversized detached garage as well- all on a little less than 1 acre of your OWN land. The inside has been remodeled and beautiful. It is not in a community -just off of Rt 5 in Longneck on Friendship Rd. Did I mention that the porch overlooks adorable little stream in back! If your interested in looking I would be happy to show it to you! Good Luck ... more
1 vote 4 answers Share Flag
Gene Hoffman, Real Estate Pro in Dewey Beach, DE
Thu Mar 6, 2014
Gene Hoffman answered:
Home inspections normally are done at contract. However, in a case where there is/was damage, I suggest that the owner get in front of the problem, pay for an inspection. have the work done, and then have the inspection report and the proof of correction to hand to the prospective buyer.

However, it would not satisfy for anyone who would be writing a contract after 90 days. Your lender wants current info.
... more
0 votes 3 answers Share Flag
Judy & Fred…, Real Estate Pro in Lewes, DE
Wed Nov 20, 2013
Judy & Fred Dean answered:
Thomas,

35547 Main St., is no longer on the market. It was withdrawn back in August.

Fred
The Dean Team
www.deanteamsells.com
302-236-6836
0 votes 1 answer Share Flag
Rentsnospace, Home Buyer in Millsboro, DE
Wed Oct 9, 2013
Rentsnospace answered:
is there any such thing as 100% financing on a class c manufactured home in delaware.
0 votes 4 answers Share Flag
Linda Bodine, Real Estate Pro in Rehoboth Beach, DE
Thu Sep 26, 2013
Linda Bodine answered:
Millsboro is a huge postal zone. Many communities in Millsboro are waterfront and could have flooding issues especially the Long Neck area. Community fees vary.
0 votes 1 answer Share Flag
Joanne Milton,  in Milford, DE
Tue Aug 6, 2013
Joanne Milton answered:
Hi Bill! This development has a variety of single homes and townhomes. I have clients who have purchased there and are thrilled! The finishes and attention to detail are impressive. I'd be happy to help you as well. Call or email me and we can discuss the details to plan our next steps!
I look forward to our hearing from you!

Joanne Milton
302.245.3346
First Class Properties
711 N. DuPont Blvd.
Milford, DE 19963
joanne@1stClassProperties.com
... more
0 votes 3 answers Share Flag
Beverly Marta, Real Estate Pro in Rehoboth Beach, DE
Wed Jun 26, 2013
Beverly Marta answered:
Hello you can call me directly 302-858-7747 or e-mail me coastalbeverly@gmail.com and I will be more then happy to set up a time for you to see the home.
The ground rent is $ 8400 per year

Thank you and hope to hear from you soon
Beverly Marta
... more
0 votes 2 answers Share Flag
Larry Sprigg, Real Estate Pro in Frankford, DE
Thu Jun 20, 2013
Larry Sprigg answered:
There is a large development of new single family homes in Millsboro that all have basements. It is Plantation Lakes.
0 votes 3 answers Share Flag
Cindy Cindy…, Real Estate Pro in Rehoboth Beach, DE
Thu Jun 20, 2013
Cindy Cindy Manry answered:
Yes, there are communities that are fee simple in Millsboro. I have been working with other Clients that are looking for the same type of home. If you need more help, please contact me. CManry@kwrealty.com ... more
0 votes 3 answers Share Flag
Nick Varrato, Real Estate Pro in Millsboro, DE
Wed Jun 12, 2013
Nick Varrato answered:
There is no ground rent but a HOA of $83.00 a month. If I can be of any other assistance please call 302 542 4850. I do sell in the Plantation Lakes Development. Thanks for the info.

Nick
... more
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