If you are looking to down-size or move, what properties have you looked but SOLD fast to your suprise?

[Anonymous]

Please share the zip codes or MSL, here are my 20165, 19930, 24121, 22101 and 22207
and 20147 (liked this house a lot).

VALO2096794

DESU2087062

MLS#: 915894

VALO2094730

VAFX2252314

VAAR2058760

VALO2096794

[Anonymous]

The house in Arlington (22207) looks nice. I wonder if there are any major systems that need updating because it seems to be underpriced at $1.25M.

https://redf.in/nbg3QB

[Anonymous]

We're not looking to move, but we own in Rehoboth and follow the market there. The higher end properties are still selling relatively fast, especially new builds in prime locations. That was surprising to me, but I guess the rich just want what they want when they want it.

[Anonymous]

Anonymous wrote:The house in Arlington (22207) looks nice. I wonder if there are any major systems that need updating because it seems to be underpriced at $1.25M.

https://redf.in/nbg3QB

I love that and it does seem like a steal. Even if you need to replace the roof or HVAC.

[Anonymous]

Anonymous wrote:We're not looking to move, but we own in Rehoboth and follow the market there. The higher end properties are still selling relatively fast, especially new builds in prime locations. That was surprising to me, but I guess the rich just want what they want when they want it.

In Rehoboth the property taxes are insanely low. A rich person given compared to Hamptons, NJ or MD the property taxes alone make it a steal and SFH no condo charges and new homes are built to new flood insurance codes.

I think Rehoboth the older small condos are way over priced. They are going to get assessments and if condo board makes subletting or short term rentals not allowed the price will fall.

High end homes are more tied to stock market. I went to hamptons for 20 years and in boom years 1986, 1999, 2005, and now 2017-2025 they fly off the shelves. A lot sell cash so mortgage rates less a factor. That is a whole different worlds.

[Anonymous]

Anonymous wrote:We're not looking to move, but we own in Rehoboth and follow the market there. The higher end properties are still selling relatively fast, especially new builds in prime locations. That was surprising to me, but I guess the rich just want what they want when they want it.

PP, has Rehoboth change much in the past four years? Always a big fan of Rehoboth and Lewes.
What do you think of Bethany Beach in comparison?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're not looking to move, but we own in Rehoboth and follow the market there. The higher end properties are still selling relatively fast, especially new builds in prime locations. That was surprising to me, but I guess the rich just want what they want when they want it.

In Rehoboth the property taxes are insanely low. A rich person given compared to Hamptons, NJ or MD the property taxes alone make it a steal and SFH no condo charges and new homes are built to new flood insurance codes.

I think Rehoboth the older small condos are way over priced. They are going to get assessments and if condo board makes subletting or short term rentals not allowed the price will fall.

High end homes are more tied to stock market. I went to hamptons for 20 years and in boom years 1986, 1999, 2005, and now 2017-2025 they fly off the shelves. A lot sell cash so mortgage rates less a factor. That is a whole different worlds.

PP here, that makes sense. The Rehoboth taxes are extremely low and my understanding is that a lot of the RE deals are cash transactions. The second home RE market follows the stock market.

We started getting a lot of people from NY and NJ who are priced out of the Hamptons for ~the last 10-12 years. $4-5M doesn't get you much in the Hamptons, but it can get you a new build within a couple blocks to the beach and Rehoboth Ave in Rehoboth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're not looking to move, but we own in Rehoboth and follow the market there. The higher end properties are still selling relatively fast, especially new builds in prime locations. That was surprising to me, but I guess the rich just want what they want when they want it.

PP, has Rehoboth change much in the past four years? Always a big fan of Rehoboth and Lewes.
What do you think of Bethany Beach in comparison?

Good morning, PP here. Rehoboth has been changing a lot over the last 10-12 years, and has become much more upscale. That escalated even more over the past 5 years as people accelerated any plans to buy a beach house.

Downtown Rehoboth now has more nicer restaurants and lots of the older homes have been torn down for new builds. So far, most of the new builds still have a similar, beachy vibe so they fit in well. Per my earlier post today, we've been getting an influx of people from NY and NJ, in addition to usual people from the DC area, MD, Wilmington area, and PA.

The owners are generally more wealthy than they were 30 years ago and their expectations have changed. No more living in a small 1960's ranch. Those get torn down and people build new, larger homes. There's more demand for nicer restaurants and shopping, so there's more of that now too.

The surrounding areas drastically changed with the pandemic. People retired early or moved with their newly-remote jobs. There has been a lot of development more inland. The bad part of that is more traffic on route 1. The good part is we can now support more retail so our shopping options have improved. We're even getting a Costco and Trader Joe's, which I'm really looking forward to.

One change that I love to see is more support for local artists. There's just more money here now to support art shows, theater, buying local art in the cute shops, etc. We're big fans of the Developing Artists Collaboration. I highly recommend attending one of their events if you're in town. I've picked up some really cool local art and jewelry at their markets. The markets have live music and sell drinks so it's really fun. https://www.developingarts.org/

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're not looking to move, but we own in Rehoboth and follow the market there. The higher end properties are still selling relatively fast, especially new builds in prime locations. That was surprising to me, but I guess the rich just want what they want when they want it.

PP, has Rehoboth change much in the past four years? Always a big fan of Rehoboth and Lewes.
What do you think of Bethany Beach in comparison?

I forgot to add that Bethany is quieter if you're looking for that (except for Sea Colony). Rehoboth has a lot more to do and the whole downtown is walkable from one end to the other. Walkability was a top priority for us. We looked at both and bought in Rehoboth. We like lots of stuff to do besides sit on the beach though. The boardwalk is hopping every night so it's easy to just walk down there with the family and have fun.

It depends what you're looking for. Both are very nice areas.

[Anonymous]

Thank you, PP

[Anonymous]

Anonymous wrote:The house in Arlington (22207) looks nice. I wonder if there are any major systems that need updating because it seems to be underpriced at $1.25M.

https://redf.in/nbg3QB

Older agent who doesn't do much business listed the house for her friend and underpriced it. Sold significantly above the asking price.