Bayfront at Rehoboth Development (Lewes: for sale, real estate, HOA fees)

[leoboy]

Does anyone know anything good or bad regarding this development? It is located in Lewes.

Thanks

[GraysFerryB4]

Only thing I know is values in Lewes tend to stay lower and appreciate less than those in Rehoboth and Dewey. Location, location, location. We are in the process of buying a condo in Rehoboth.

[nuts2uiam]

I recently viewed this area as well as several others and will give you my OPINION, not based upon cold hard facts, just based upon my own common sense, which may well be dead wrong.

While I LOVE this community and might be tempted to purchase here given the views of the bay, the beach, kayaking, etc. I remain afraid given the economy, that this community will languish behind many others in terms of development and the full amenities that are offered by others will never come to pass here.

I am also concerned that the homes that are there now, at some point may bear the expense of the projected community.....sold or not. I am certain the developer did not figure in the economic downturn into the original plans and he is now bearing many of the costs of the amenities etc. but for how long?

[seahags]

From their website it looks as though everything (i.e. amenities) is complete. Is that not the case? How far along IS the development itself? Looking for a new-build, energy efficient, near DE beaches. I'd love to hear any reviews, also.

[nuts2uiam]

Originally Posted by seahags

From their website it looks as though everything (i.e. amenities) is complete. Is that not the case? How far along IS the development itself? Looking for a new-build, energy efficient, near DE beaches. I'd love to hear any reviews, also.

When we were there late this summer there were several homes and amenities but there was still largely a feel of an underdeveloped site.. If you look at the site plan you can count about 30 homes if you move the mouse around. There are 180 sites in total (although it looked like a few numbers were missing) and approximately 40 that are not yet released. That leaves the number of available lots at about 110. Of course it is possible that the site has not been updated. That would however be almost detrimental to selling in my mind because demand creates desirability, so I would think keeping it current would be better for sales, but I am not a Real Estate person. If you look a the community center you can get a sense of the "feel" I am talking about. I posted earlier in this thread about my concerns for the area and I would suggest that you visit and see if you feel differently, you may.

[Gingerspal]

Originally Posted by seahags

From their website it looks as though everything (i.e. amenities) is complete. Is that not the case? How far along IS the development itself? Looking for a new-build, energy efficient, near DE beaches. I'd love to hear any reviews, also.

We were just recently there and although Bayfront has many nice wooded spots and it looks like a great location with access to Rehoboth Bay, I don't see a lot of building going on. It also appears that some of the homes for sale there have been on the market for a while.
They offer great amenities such as beach access and full lawn maintenance on your 1/2 acre property. We were tempted, but are now taking a wait and see attitude. There is a pool house and a separate main building for meetings and social events. The cost is about $250.00 per month which is not bad, but once they get enough homeowners they will turn it over and then who knows what the cost will be to maintain both buildings and keep the amenities?
I would like more information from people actually living there.

[Arezzo]

I am moving to Bayfront at Rehoboth in October. There are at least 5 houses in varying stages of construction that I know of right now. And there could be more. I live in Italy and havent been back to the community for a month or so. Things started picking up in April and May. There are 2 builders: Select and Insight. I am using Select and I know someone who just signed a contract with Insight. I have been very pleased with Select so far. They are creative and accommodating and downright helpful.

Things did get off to a slow start some years ago I believe because the original developer went under and the project got stalled while it was being restructured. And some buyers are having trouble selling their current homes so they have bought lots but aren't ready to build. More than 75% of the current owners are full time, giving the community good stability. I searched in Sussex county DE for almost a year before I decided on Bayfront. In my opinion, the HOA dues are reasonable. I was looking at $300 and $400 monthly fees for town home communities that weren't nearly as interesting as Bayfront, such as Bayside and Bay Forest. I love the trees that they left and the wildlife and proximity to wetlands and the bay. I thought about the possibility of having my HOA dues raised if the community doesn't build out but the builder and management say they are committed to keeping the dues at the current level (notwithstanding inflation) and are building a reserve. I am completely happy with my decision. And I really like the 3.8% interest rate!

[JERSEY MAN]

Arezzo, if you don't mind me asking what are the HOA fees in this community.

[rdlr]

The HOA was $2,928/Year. Don't know if that has changed, though.

[Arezzo]

They are $244 a month as the previous poster said. $2829 a year. Pafrt of what you get, in addition to the pool, fitness room, clubhouse, little beach with kayak storage and launch dock, is sod for the front and sides of the house, mulching and lawn cutting and a sprinkler system. You have to pay for the water, tho.