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Old 11-21-2010, 06:54 AM
 
29 posts, read 88,342 times
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In southern Delaware, evidence abounds of real estate, banking collapse | Philadelphia Inquirer | 11/21/2010
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Old 11-21-2010, 10:06 AM
 
1,230 posts, read 1,558,913 times
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The thing about Sussex County is that in past years many of the purchased homes were "second" homes being purchased and not just retirees moving to DE. So, between people not being able to justify the expense of buying a "second" home and those retirees who can't move until they sell their primary home - it is no wonder the housing market has been hit hard in southern Delaware.

Mary2014
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Old 11-21-2010, 11:50 AM
 
7,361 posts, read 10,799,487 times
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Quote:
Originally Posted by Mary2014 View Post
The thing about Sussex County is that in past years many of the purchased homes were "second" homes being purchased and not just retirees moving to DE. So, between people not being able to justify the expense of buying a "second" home and those retirees who can't move until they sell their primary home - it is no wonder the housing market has been hit hard in southern Delaware.
Mary2014
I know the article is speaking of 55+ communities, but...
It's not all about retirees, and the market reactions we are experiencing are not limited to Sussex County, but all over the state. First time home buyers and families attempting to move up, play a big part in the market. We have experienced a declining real estate market for a number of reasons....primarily, job layoffs and/or lack of jobs.
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Old 11-21-2010, 06:54 PM
 
Location: Rehoboth Beach, Dela_where
177 posts, read 605,730 times
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Like the article mentioned, quite a few of these developments were touting being shore properties out in chicken country 45 minutes from the beach, yea right!

Rehoboth Shores is in Millsboro for gawds sake!

Rehoboth Shores Estates is in Rehoboth Beach proper 19971!

The real estate market around here is definitely in collapse!
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Old 11-22-2010, 12:29 PM
 
4 posts, read 4,760 times
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My husband and I are visiting Sussex County during Thanksgiving (2010) to decide if we want
to purchase a vacation home around Lewes (or any other surrounding community).
Not a good idea....huh? Where is the ideal place in Delaware to purchase a vacation home?

Thanks.
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Old 11-22-2010, 12:31 PM
 
4 posts, read 4,760 times
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Oh, forgot to mention, also concerned about the blogs regarding racism in Delaware?????
Should that be a point of concern for my husband and I visiting during Thanksgiving (2010)
to possibly purchasing a vacation home?

Thanks again for any comments.
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Old 11-22-2010, 06:27 PM
 
Location: Rehoboth Beach, Dela_where
177 posts, read 605,730 times
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Quote:
Originally Posted by slarue View Post
My husband and I are visiting Sussex County during Thanksgiving (2010) to decide if we want
to purchase a vacation home around Lewes (or any other surrounding community).
Not a good idea....huh? Where is the ideal place in Delaware to purchase a vacation home?

Thanks.
It would be a great time to buy a vacation home here in Lewes or Rehoboth, real estate prices are in the dumps, it's a buyers market, don't think the prices will get any lower unless there is a nuclear war or something!

I would buy an existing home, not in one of those new defunct developments!

Good Luck!
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