31 OLIVE AVE, Rehoboth Beach, De 19971 | $2,165,000

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Property Details

This landmark property, formerly the stately Pleasanton Inn, is now a 7BR, 7.5BA home. A lovely year round or summer home, but currently used as a rental property. Featuring a gracious front porch, generous living spaces, and 1 block to the beach. Co
  • MLS Number: 719266
  • Status: Active
  • Price: $2,165,000
  • Property Type:
  • Area: Dewey To Lewes East Of Canal
  • Community: North Rehoboth
  • School District: Cape Henlopen
  • Square Footage: 4,200
  • Year Built: 1900
  • Bedrooms: 7
  • Full Bathrooms: 7
  • Half Bathrooms: 1
  • Number of Stories: 2
  • New Construction: No
  • County Taxes: $1,239
  • City Taxes: $689
  • Condo Fee: $5,040
  • Trash Fee: $275
  • Furnished: Yes
  • Lot Size Acres: 0.00
  • Lot Description: Corner, Landscaped
  • Water: Public Central Water
  • Sewer: Public Central Sewer

Interior Features

  • Kitchen: Eat In
  • Fireplace: Gas
  • Heating: Forced Air, Gas - Propane, Oil
  • Cooling: Central A/C
  • Flooring: Hardwood, Tile
  • Basement: Basement - Partial,Outside Access Only,Sump Pump
  • Attic: Access Only
  • Appliances: Dishwasher, Disposal, Dryer-Electric, Fridge w/Ice Maker, Microwave, Oven/Range Gas, Oven-Self Cleaning, Range Hood, Washer, Water Heater Gas
  • Interior Features: Bedroom-Entry Level, Ceiling Fan(s), Fireplace-Gas

Exterior Features

  • Style: Victorian
  • Construction Type: Stick/Frame
  • Exterior Type: Concrete Plank, Wood
  • Roofing: Architectural Shingle
  • Foundation: Concrete Block
  • Parking: Assigned, Driveway/Off Street
  • Porch/Deck/Patio: Porch - Wrap Around
  • Exterior Features: Outside Shower, Storage Shed/Outbuilding

Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH

An Rehoboth Beach Luxury Home has Value (plus One More Thing)…

When you are selling your Rehoboth Beach luxury home, you are marketing to a narrow niche of the home-buying public. They’re high-end customers, certain to be very smart, business-savvy—and they will know their own mind. They will be hunting for value, of course, because the asking price warrants it. But they will also be looking for a property that has elements that are unique—that appeal to buyers who hope to find a residence not duplicated elsewhere.

Because of that characteristic of the market, there can be no one-size-fits-all, cookie-cutter approach that will be uniformly effective as a sales approach. There are, however, a few hallmarks that the most successful Realtors® have discovered are shared by the most appealing luxury homes. They boil down to value, exclusivity…and to story-telling.

The exposure element is the more straightforward. It used to be that the only important element was to be had in print media: magazine, newspaper, brochure and flyer. Still important, today the much wider reach is had through internet and social media. Like all Rehoboth Beach real estate prospects, buyers interested in the current crop of luxury homes are most likely to investigate using at least some online research before scheduling an in-person visit. And what they experience on the web will be influential in how eager they will be to make time for that visit.

It goes without saying that for every Rehoboth Beach luxury home web presentation, the quality of the imagery has to be first-rate—Professional real estate photographers do more than highlight key room features shot from eye-pleasing angles. The best know how to paint with light—to shape viewer experience by selecting the time of day and color of light and shadow that will convey mood. Sometimes a true online video tour, complete with well-produced music and narration tracks, can also be the most effective tool—as long as the online viewing experience is brief, intuitive and easy to navigate. But no matter which medium and format is pressed into service, the goal is always to create a viewer experience that is unique and memorable.

And it should have a story.

That ‘story’ could be anything from an interesting history to a setting or view that is, literally, unique. It can be an overpowering constellation of luxury home features, or a history of owners that includes prominent community or cultural luminaries. It can be standout architectural innovations, landscaping worthy of a Homes and Gardens centerfold, or a layout that just happens to be perfectly well-matched to a particular client’s family—any and all can qualify. The single indispensable part of the mix is that the property’s unique character comprises a story worth retelling. It’s human nature, after all every Rehoboth Beach luxury home buyer, whether they realize it or not, would like to be able to tell friends and colleagues about their new luxury home!

If you have an Rehoboth Beach home with its own luxury story waiting to be told—or if you’re in the hunt for one—I hope you will give me a call!

Rehoboth Beach Jumbo Mortgage Outlook Continues to Brighten

“The Jumbo Jungle” may sound a little like the elephant compound in a wild animal park, but it’s actually a seldom-quoted tab under The Wall Street Journal’s online Real Estate section. The “jumbos” being discussed are the trunkless kind—the hefty mortgage loans whose center rings are found in binders instead of circus tents.

Judging from the latest discussions Rehoboth Beachhomeowners will find lately, these jumbos aren’t about to become endangered anytime soon. For one thing, 2015 registered the highest activity for the behemoth loans ever. This year’s follow-up, according the WSJ, will be unlikely to slow the pace.

The reason behind the jumbo mortgage market’s strength has a lot to do with the down stock market. Last week ended with another swoon, led by the tech stock sector. Investors were thought to have been worried by some poor earnings performance and a general “realization that the world is slowing.”

According to Inside Mortgage Finance, jumbos accounted for a full fifth of all mortgage lending last year—the highest percentage of the market since 2002. Rehoboth Beachresidents looking to borrow in the high end market may also find a variety of interested lenders as asset investment dollars shift into real estate as “a safer investment.”

It was widely held that the market dip made it more likely to momentarily halt any rise in interest rates. By week’s end, mortgage rate research website HSH.com marked another drop in conforming rates, as well as the “Federal Reserve’s apparently more cautious position with regard to raising interest rates.” That “apparently” was probably well-advised, given industry experts’ recent history of hit-and-miss prognosticating.

Nonetheless, the Jumbo Jungle writers boldly headlined“WHAT’S AHEAD FOR JUMBO-LOAN BORROWERS in 2016.” Their answer was increased likelihood for jumbo loan interest rates holding below 4% “…for a while longer, which also could make borrowing large sums more attractive.” Going further, JJ quoted one mortgage sales manager suggesting that the fear of eventual rate rises could spur a “home buying frenzy” in the spring, adding to a rush of refinancing by adjustable-rate borrowers reaching the end of their fixed-rate terms.

Rehoboth Beach jumbo loan applicants won’t have to be in any kind of a ‘frenzy’ to take advantage of today’s continuing low rates and a general move toward an easing of credit score requirements. I’m glad to help point my clients toward the most active local lending resources—those that consistently provide sound service to Rehoboth Beachhomeowners.  Call/Text me Russell Stucki at (302) 228-7871, email me at russellstucki@remax.net, visit more listings at www.beachrealestatemarket.com.