Looking for Info about Potnets Communities (Lewes: HOA fees, loans, townhouse)

[camaro69]

We looked at a house there about 3-4 years ago. The land lease at that time was $13,000 and the house was selling for $159,000. Last time I looked it was still for sale for $74,900 and the land lease was now $15,600.

Great location, greedy land owners are killing the community.

[posttime]

Originally Posted by rdlr

There is SO much for sale down there, I couldn't even begin to recommend a place. The sky's the limit! Here's just an example of one on the water:
2006 Doublewide w/ Garage
3BR/2BAground rent $5700 yr/ 475 mo
$84,900
There are also tons of properties for sale, very reasonably priced, in fee simple (own the land). It always amazes me that most people coming from out of state want to rent the land.

Glad I found this forum. Had thought about Potsnets. Thinking of moving from NJ--what property are you referring to that is fee simple--I would like to own the land. Any recommendations??

[lorryst]

Posttime,

We are ,also, residents of NJ and will retire to DE at the end of next year. We researched landlease communities, as well as, fee simple( you own the land) and decided fee simple was best for us. We purchased a townhome in Heritage Shores in Bridgeville and, absolutely, love it there!
Townhomes begin in the mid 200,000's and the houses begin in the low 300,000's. The community is loaded with amenities and the monthly association fee is $220 a month . It is a must-see place before you make any decisions. Have fun in your search!

[pba287]

Hi
I live close to this area & I am a realtor. You can find something else most likely right now on its own ground without the ground rent. Take care.

[rossc]

We looked for 6 months and the cheapest waterfront we could find was around $500,000 for the lot. If you don't care to be on the water, then there are plenty of houses for sale. There is no way you will find a house on the water anywhere in the US for anywhere near what you will pay for a house in any of the rented lot communities. You need to compare apples to apples. You can't compare a waterfront land lease to a fee simple lot in a subdivision in the middle of a corn field. Look at a leased waterfront lot and tell your realtor to find you the same thing for the same price fee simple... and buy every one he/she finds.

Land lease isn't a bad thing...Leasing from the Tunnells is...Stay away from PotNets, Mariners Cove and Baywood. Mariners is not Tunnell owned, but they follow the same unethical business practices.

[garrison451]

I have the luxury of owning the land in NJ but it is too much work now for me and hubby. I am considering the land lease for now. I have 2 yrs. to make a decision. I just don't know how I can afford a water view at all, I cannot believe the prices. To find something under 200K is hard. We don't want to strap ourselves. We like Sussex County the most. Any places you can advise me to look at?
Thank You.

[garrison451]

Where is this Massey's that you are talking about? I am going to Pot-Nets on Mon for a look around. We have 2 years to look around. We just don't know yet. We love the water and have a small boat. We are looking for a small home since it is just the 2 of us. Thanks .

[garrison451]

We are going their on Monday to look around. The concept sounds to good to be true. I am really looking forward to it.

[rossc]

It is at the end of Long Neck Road. Instead of turning into PotNets, just keep going straight. It's the last park on the right just before the public landing.

[Norman Olson]

We are also from PA looking for home at the beach We just got back from Pot Nets. We are afraid of the land rent never gone that way We are planning on making this a permanent home. Would also like to hear from actual owners in the Pot Nets communities