Nicest Mobile Home in Sussex County

New Listing - The nicest Mobile Home in Sussex County.

• 3/4" Natural Oak Hardwood floors.
• Ceramic tile in bathrooms and laundry room.
• Entire house and deck on a parged concrete foundation.
• Upgraded berber carpet in the master bedroom.
• Master bath has a 90 gallon Jacuzzi tub.
• Guest bedrooms have their own entrance.
• Covered front deck 10' x 28' with two ceiling fans and vinyl railing.
• 12' x 40' side deck with composite decking and vinyl railing.
• 12' x 16' shed with garage door and golf cart ramp.
• Lawn irrigation system.
• Country kitchen.
• Stainless steel appliances.
• Propane fireplace.
• Upgraded trim package.
• 70' concrete driveway with room for six cars.
• Low maintenance mulched landscaping.
• Cable TV and phone jacks in every room.
• Porcelain sinks and upgraded faucets.
• 2" x 6" walls.
• Custom paint.

Greatest real estate agent in the world contest

This really belongs in a different section of the blog but it is interesting news nonetheless. SEO or Search Engine optimization is the "science" of getting websites ranked highly on search engines like Google, MSN and Yahoo. There are currently a group of webmasters competing to get the term " Greatest Real Estate Agent in the World " to the top of the Google search engine rankings. Whomever has their site at that top spot on May 1st 2008 wins almost $4500 in website hosting and web design. This should be interesting to follow.

Least Expensive home in Pot Nets Lakeside

As of October 1st 2007 there are currently 13 homes for sale in Pot Nets Lakeside.

HI:

$118,900

LO:

$62,000

MEDIAN:

$80,000

AVE:

$85,900

If you are looking for a home priced $20,000 below the average price home in the neighborhood and almost half the price of the most expensive home in the neighborhood take a look at this one.

Real Estate Investors claim this is one of the best tactics when looking for a money making property. Buy the least expensive home in a nice neighborhood and you can't get much nicer than Pot Nets Lakeside. This community features a 6 acre man made lake with fountains, Olympic sized community pool, brand new community center with lake views and some of the nicest landscaping in the area. The community is also less than 1/4 mile from incredible fishing and golf. Click on the link to see the home and additional photos Pot Nets Lakeside Home
Or Call Realtor Mike Brown at 302 258 4368 for more information.

Overpriced Bay View Homes

How do you determine if a home is overpriced?

Realtors typically look at comps of what other homes in the same neighborhood or on the same street sold for to determine a reasonable asking price.

If 30 or more buyers look at a home without making an offer you can also assume the house is overpriced.

I can tell you the asking prices for every home that sold on Bay Drive in 2006 listed on the Sussex County Multi List. There were only two of them and the asking prices were $139,900 and $149,900 I was also the selling agent for both of these listings.

In 2005 there were four homes sold on Bay Drive with asking prices of $74,900 | $125,000 | $139,500 and $139,900

Why then in 2007 are there three homes on Bay Drive in Rehoboth Bay MHP with asking prices of $169,000 | $170,000 and $179,500 ???

What comps did these Realtors use to support these prices? Are these homes really that much nicer than the units that sold in 2005 and 2006?

For spring of 2007 I would like to give you a reasonably priced listing on Bay Drive.

35936 Bay Drive is now available at the realistic price of $149,000
Update: This listing is now under Contract

35936 Bay Drive is a 1990 3BR/2BA Doublewide. The other units that are being offered for as much as $30,000 more are a 1981 model and two that do not have their age listed. Why are the ages not listed? Are they trying to hide something?

Act quickly, I'm guessing 35936 Bay Drive will be sold in under a month while the other three may be on the market all summer.
UPDATE as of 5/17/2007 35936 Bay Drive is Under Contract. It was on the market a month and a half. This just proves that homes with reasonable prices sell quickly!!!
I have a house of my own in Rehoboth Bay with views of White Oak Creek that I am about to put on the market. What do you think I should price it at? $150,000?, $130,000?, $125,000? Nope. I'm going to ask $99,000 Why? Because I want it to sell quickly and compared to all of the other homes in the community priced over $100,000 it will look like a great deal. Could I get more for it if I priced it higher and waited four, five or even six months? Maybe, but I'd rather not have to guess about how long it might take and then have to lower my price two or three times and then maybe miss the whole summer selling season.

Please call or E-mail me if you would like to see this well priced bay view home.
302 258 4368 mike@bwbeach.com

How long will it take to get your Mobile Home sold?

Average Days on Market Stats were taken between 01/01/2006 and 01/01/2007
for closed and pending contracts in the large Mobile Home Communities in Sussex County Delaware. These stats do not take into account those homes that did not sell, expired or were withdrawn. Just one listing that sits on the market for an extremely long time can significantly affect the results for the whole neighborhood.
The prices listed were the asking prices and not necessarily the selling price.

Rehoboth Bay MHP 33 Transactions
HI: $199,000 LO: $29,900 MEDIAN: $60,000 AVG: $80,218 AVG DM: 116

Camelot Meadows 20 Transactions
HI: $119,900 LO: $17,900 MEDIAN: $46,900 AVG: $54,120 AVG DM: 68

Sea Air 15 Transactions
HI: $84,900 LO: $10,500 MEDIAN: $24,900 AVG: $32,313 AVG DM: 125

Colonial East 13 Transactions
HI: $55,000 LO: $14,000 MEDIAN: $26,900 AVG: $32,462 AVG DM: 120

Aspen Meadows 17 Transactions
HI: $93,500 LO: $49,900 MEDIAN: $63,900 AVG: $65,382 AVG DM: 105

Silver View Farm 7 Transactions
HI: $76,900 LO: $9,000 MEDIAN: $29,999 AVG: $32,486 AVG DM: 183

Sussex East 4 Transactions
HI: $74,900 LO: $49,900 MEDIAN: $62,000 AVG: $62,200 AVG DM: 161


Sussex West 0 Transactions

McNicol Place 6 Transactions
HI: $54,900 LO: $25,300 MEDIAN: $38,700 AVG: $39,567 AVG DM: 117


Angola Beach 7 Transactions
HI: $69,900 LO: $27,900 MEDIAN: $52,000 AVG: $52,086 AVG DM: 98

Angola Estates 5 Transactions
HI: $114,900 LO: $59,900 MEDIAN: $89,000 AVG: $85,720 AVG DM: 48

West Bay 2 Transactions
HI: $84,900 LO: $14,000 MEDIAN: $49,450 AVG: $49,450 AVG DM: 135

Pot Nets 41 Transactions
HI: $155,000 LO: $8,000 MEDIAN: $49,900 AVG: $59,244 AVG DM: 187

Bayside 12 Transactions
HI: $95,000 LO: $14,900 MEDIAN: $52,400 AVG: $56,583 AVG DM: 174

Lakeside 9 Transactions
HI: $155,000 LO: $59,900 MEDIAN: $99,900 AVG: $107,022 AVG DM: 162

Coveside 4 Transactions
HI: $64,900 LO: $10,000 MEDIAN: $39,700 AVG: $38,575 AVG DM: 311


Creekside 11 Transactions
HI: $109,900 LO: $15,000 MEDIAN: $29,900 AVG: $40,882 AVG DM: 138

Dockside 0 Transactions

Mariners Cove 23 Transactions
HI: $119,900 LO: $13,900 MEDIAN: $44,900 AVG: $53,239 AVG DM: 183

Bay City 7 Transactions
HI: $99,000 LO: $24,900 MEDIAN: $49,900 AVG: $62,057 AVG DM: 100

Masseys Landing 2 Transactions
HI: $199,950 LO: $119,900 MEDIAN: $159,925 AVG: $159,925 AVG DM: 130

Rehoboth Shores 4 Transactions
HI: $22,700 LO: $9,900 MEDIAN: $18,700 AVG: $17,500 AVG DM: 106

All information is deemed reliable but not guaranteed.
Prospective purchasers should verify the information to their own satisfaction. Information provided by the Sussex County Association of Realtors Multiple Listing Service.

Do you know the difference between a modular home and manufactured home?

A MODULAR HOME is one that is constructed on a WOOD foundation in a climate-controlled factory: at the factory, the modular unit(s) is/are placed on a truck bed for delivery to the home site. Lenders & appraisers consider modular homes the same as stick-built homes.

A MANUFACTURED HOME is one that is constructed on a METAL foundation in a climate-controlled factory: at the factory WHEELS/TIRES are attached directly to the metal foundation for delivery of the structure to the home site.

Buy a Beach House With Your Tax Refund

Every year, you anticipate getting a tax refund. You dream about what you’ll do with the money. "A week in a coastal-resort vacation home near a white-sand beach would be nice," you say to yourself. Unfortunately, if you’re like the majority of us, once your refund comes, it gets spent here and there and, months later, you wonder what happened to it. Why not do something different this year, and perhaps make an investment? With a refund of only $700.00, you could enjoy that white sand beach you’ve dreamed of. In fact, you could even own a home by the beach, and enjoy perpetual resort living. "How can I own property at the beach for only $700.00," you wonder? "Don’t beach front condominiums go for $800,000.00 or more?" Yes, they do. But we’re not going to consider condos. Or townhomes. Or even single family homes, for that matter.

We’re going to look at mobile homes! Mobile home communities can be found in many resort areas, Rehoboth Beach in particular, with homes starting around $25,000.00. Many of these communities offer waterfront lots that boast the same views as the million dollar homes sitting on adjacent properties. Some mobile home parks even offer the same amenities that the resort area condo and townhouse communities boast about. Swimming pools, tennis courts, club houses, private parking, playgrounds and water access for boating and recreation are among the numerous privileges that members of some mobile home parks enjoy.

So, how do you turn your $700.00 tax refund into a vacation home in a coastal resort town? Your tax refund will most likely be enough of a down payment to get you started. The age of the home is an important consideration, because older homes may require larger down payments and slightly higher interest rates. Homes built before the early 80's are sometimes difficult to get financing for, so you may want to limit your search to "younger"homes.

If you’re a handy person and enjoy home improvements, fixer-upper mobiles offer the best value, and can be found starting as low as $15,000.00. The amount of improvements needed to make one move-in ready will obviously depend on its condition. At the $25,000.00 range, you can expect to need new carpeting or vinyl, and perhaps some updated lighting and bathroom fixtures, faucets or similar details. At the other end of the spectrum, a brand new, double-wide, 3 bedroom, 2 bath home will run closer to $80,000.00, but will be gorgeously move-in ready, and may include modern features like vaulted ceilings, upgraded appliances and attractive lighting and bath fixtures. A monthly payment on a home like this may run between $700-$900/month depending on interest rates (typically in the 8-11% range), with $700.00 down. Older double-wide models start around $60,000.00.

Since the land the home sits on is technically leased from the community, you will be required to pay lot rent as well as your loan payment. Waterfront lot rents may run $500.00-$1250.00 a month, while non-waterfront lots will usually be less, perhaps as low as $350.00-$650.00 per month. Most communities charge lot rent on a monthly basis, but some, particularly the Pot Nets Communities, require that it be paid in advance for the year. Owners can expect lot rent to go up 3-5% annually. To save a bit in lot rent, you may want to forgo the waterfront property, and opt instead for something a couple lots back from the water. This is particularly true if the community you’re considering offers water access for all residents.

If waterfront is what you really want, remember that you’ll still be saving considerable money over the folks who choose to purchase waterfront condos, townhouses or single family homes. Combining your loan payment and lot rent, you could hypothetically pay $1200.00-$2150.00 per month for your waterfront mobile home at Rehoboth (depending on the community), while the $800,000.00 condo dweller will be stuck paying over $4680.00 per month, for the mortgage alone, assuming a 6.5% interest rate, and 10% ($80,000!) down. This doesn’t even include home owner’s association fees, which could add another couple hundred dollars a month.

Aside from the overwhelming difference in cost, there are a few notable differences between the sales transaction of a mobile home and a traditional home. Applicants to mobile home parks will be asked to submit to a background check, as well as a credit check. Because your mobile home is technically a motor vehicle, it’s title will come from the Department of Motor Vehicles and interest on the principle of the loan is not tax deductible. However, your monthly savings over a condo or townhouse mortgage will more than make up for that.

If you, like many of us, dream of living near the beach, but are unable to purchase traditional coastal resort property due to the tremendous expense, consider the value of purchasing a mobile home, and compare the cost savings to that of a traditional waterfront property. Your tax refund could be the beginning of making your dream of living at the beach a reality. Enlist the help of a realtor specializing in mobile home sales, who has access to lenders offering mobile home financing, and your dream could come true for as little as a $700.00 tax refund.