37250 fox drive, Millville, De 19970 | $350,000

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Property Details

Well maintained spacious 4 bedroom home located in Bethany Bay. This community on the Indian River Bay, has all the amenities you can want- pool, tennis, boat launch area, fitness center, and only minutes from the beach and boardwalk. As you enter
  • MLS Number: 725745
  • Status: Active
  • Price: $350,000
  • Property Type:
  • Area: Baltimore Hundred
  • Community: Bethany Bay
  • School District: Indian River
  • Square Footage: 1,824
  • Year Built: 1995
  • Bedrooms: 4
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Number of Stories: 2
  • New Construction: No
  • County Taxes: $725
  • Association Fee: $1,894
  • Condo Fee: $4,169
  • Water Fee: $300
  • Sewer Fee: $280
  • Waterfront: Lake/Pond
  • Water View: Lake/Pond
  • Furnished: Partial
  • Lot Size Acres: 0.00
  • Lot Description: Adjoining Golf Course, Cleared
  • Water: Water-Public Central
  • Sewer: Public Central Sewer
  • Community Amenities: Basketball Courts, Community Center, Golf Course, Jog/Walk Path, Playground, Pool-Outdoor, Tennis - Outdoor, Water/Lake Privilege

Interior Features

  • Kitchen: Breakfast Bar, Countertops - Granite, Eat In, Pantry
  • Heating: Heat Pump(s)
  • Cooling: Central A/C, Heat Pump(s)
  • Flooring: Carpet, Hardwood, Tile
  • Basement: Crawl Space
  • Attic: Access Only
  • Appliances: Cable TV Pre Wired, Dishwasher, Dryer-Electric, Fridge w/Ice Maker, Garage Door Opener, Microwave, Oven/Range Electric, Oven-Self Cleaning, Washer, Water Heater Electric
  • Interior Features: Bedroom-Entry Level, Cable TV Prewired, Ceiling Fan(s), Insulated Door(s), Insulated Window(s), Insulation, MBED-Full Bath, Screen(s), Storm Door(s), Vaulted Ceilings, Walk-In Closets, Window Treatments

Exterior Features

  • Style: Coastal,Contemporary
  • Construction Type: Stick/Frame
  • Exterior Type: Vinyl Siding
  • Roofing: Asphalt Shingle
  • Foundation: Concrete Block
  • Garage: Attached
  • Garage Size: 2
  • Parking: Driveway/Off Street, Garage
  • Porch/Deck/Patio: Deck - Rear, Porch - Screened, Three Season Room

Listing Courtesy of LONG AND FOSTER-BETHANY

Scene Year-End Review Shows Real Estate Investment Movement

At 2014’s year end, it’s as good a time as ever to look back over the real estate investment landscape to see if any new trends or directions may have become apparent. It does look as if one development in the country as a whole may cause ripples that could affect Millville real estate investment hunters in the coming year.

This is a development with roots that go back to the 2008 upending of the housing market. That triggered a glut of foreclosures, so that banks, already up to their vaults in turmoil, found themselves holding uncomfortably large numbers of repossessions. Bright-eyed executives at private equity firms and hedge funds were quick to spot this as a new opportunity: they could scoop up the repossessions for a song, rent them out, and then just wait to sell until the economy improved.

By 2013 The New York Times was reporting that the Blackstone Group now owned some 26,000 rental homes—with Colony Capital picking up more than 10,000 single-family residences. Warren Buffet had endorsed the idea; J.P. Morgan and Morgan Stanley had set up new real estate investment funds earmarked for the purchase of houses. Vague concerns about absentee investor landlords were waved away—this was like some kind of newfangled Institutional Investor Gold Rush, and as any ‘49er could have told you, in a gold rush, there isn’t time to worry about the details!

The main real estate investment targets centered on certain markets: Minneapolis, Atlanta, Detroit, Los Angeles, Las Vegas, New York, and Phoenix saw the most activity. In some regions, 2012 and 2013 saw bidding wars for repossessions and lower-priced housing, until by July of 2015, The Times could report that in some areas "prices of the least expensive homes have more than doubled" in two years. As Forbes reported in 2013, "Wall Street has been bullish on real estate."

Sellers (mostly banks) were happy. The institutional investors were happy. However, ordinary people looking out for the same kind of real estate investments found themselves competing with institutions. They were largely beaten out or priced out of the market.

By the end of 2013, though, those earlier "details" that had been ignored were beginning to rankle. Individuals whose real estate investments were hands-on propositions may not have had the same kind of problems, but a company like Colony American Capital had to report that it had found renters for only 51% of its properties. Many private equity firms and hedge funds began to report losses. As the CEO of Carrington Holding wrote, "We just don’t see the returns there that are adequate to incentivize us to continue to invest." (Translation: Good-bye.)

With institutional investors bidding adieu to the areas they’d previously targeted, any repercussions felt Millville's real estate investment landscape can only be to return to a more familiar market scenario—one where individual investors have the last word. If 2015 will see you in the hunt for suitable real estate investments in Millville, that should come as good news…as well as a good reason to give me a call!

Homeowners Recognize Commercial Real Estate Differences

By virtue of their purchasing experience, homeowners have necessarily become familiar with the basics of real estate. A Millville homeowner may not consider her- or himself an expert in the matter, but history does allow them all to share a degree of confidence in real estate markets and the factors that are important when it’s time to make a buy or sell decision.

Real estate is real estate, after all — whether it’s here in Millville or anywhere else, right? Not exactly. Commercial real estate is a horse of a different feather!

If you are thinking about buying commercially for the first time, understanding not only that there are differences from the residential market, but how those influence the other buyers and sellers (they make up the ‘market,’ after all) will be good preparation when the time arrives to put together a solid offer.

From a purely ease-of process perspective, buying a piece of commercial real estate in Millville is substantially more involved than buying a typical residential property. Though not always so, there are more opportunities for extra complications: lien and title issues, rules about hazardous materials, and zoning considerations are just some.

The language used in real estate documents for commercial properties can be complicated and obscure, so of course it’s especially useful to coordinate with an experienced Millville commercial real estate agent.

Due to lending costs, a commercial property that is the same size as a residential one will usually be more expensive. You can still buy residential homes in the 3.5% range via an FHA loan, but banks are often (rightfully!) stringent about lending on commercial real estate purchases. Expect stricter qualifications and more money down. That’s due to the risk of doing business: the potential to make money with a commercial property is greater than with a residential property — but the risks associated with owning it are also higher. Needless to say, it’s valuable to keep those risks in mind when evaluating any commercial real estate purchase.

If you are business-minded and thinking about the advantages of owning instead of leasing, give me a call! I’ll be standing by to discuss some standout opportunities in this spring’s market!