1. Message from Leslie
2. New Listing
3. Price Change
4. What's Happening
5. Interest Rates
6. In the News
7. For Your Information

Conforming:
30 year fixed 0 points: 5.875%
15 year fixed 0 points: 5.750%

Jumbo:
30 year fixed 0 points: 7.750%
30 year fixed 1 point:   7.500%
15 year fixed 0 points: 7.375%
15 year fixed 1 point:   7.125%

These rates are provided by Jeff Baxter at Prosperity Mortgage and are subject to change without notice. Please contact Jeff directly for current rates at 866-859-6558 (toll-free office), 410-459-2108 (cell phone) or jeff.baxter@prosperitymortgage.com

http://www.sjbaxter.com

Visit Jeff's Blog

Jeff's Newsletter


Mortgage Market in Review 8/30/08

Economic Commentary 9/2/08

Economic Commentary 8/26/08

Near-Term Home Sales to Stay in Narrow Range. ~National Association of Realtors®

Voters elect new faces to Bethany Town Council. ~Delmarvanow.com Delaware Wave

Traditions stray from the norm. ~ Delmarvanow.com Delaware Wave

Nationally syndicated radio host Mike McGrath to talk to local garden club. ~Coastal Point

Leslie Kopp or Pam Adkins
The Leslie Kopp Group
Long & Foster Realtors, Inc.
33298 South Coastal Highway
Bethany Beach, DE 19930
Office: 800-851-8997
Leslie's Cell: 302-542-3917
Pam's Cell: 302-858-7997

Email:

leslie@bestofbethany.com pam@bestofbethany.com

URL: http://www.bestofbethany.com

END OF THE SEASON

As the summer season ends, our real estate market is sending mixed messages. We usually use single-family homes as the surrogate for the entire market. With that measure, over the last 40 days to September 10, this year was weaker than a weak 2007. For example, only 14 homes went under contract compared to 17 in 2007. Using listing prices, the value changing hands (15.233m) was 31% lower than last year.

However, the picture shifts when adding condo/townhouses and vacant lots to the mix. 16 condo/townhouses sold this year compared to 13 in 2007, with listing prices 68% higher. In addition, 4 lots went under contract ($4.7m) but only 1 (.3m) last year.

Combining all types, 34 properties are changing hands this year compared to 31. The listing values were $31.6m, 7% higher. On a personal note, I had a strong 40 days, putting 9 properties with listing values of $14.8m under contract. Inventories are down compared to a year ago. I’ll deal with inventories more later.

39719 Hampton’s Lane, The Preserve North Bethany $2,600,000 Fabulous ocean views from this 5 BR, 4 Full, 2 half Baths Oceanblock home with elevator, media room and loft in sought after North Bethany neighborhood with pool and tennis. Click to view: Fact Sheet | Virtual Tour

2 Brighton, Wedgefield Ocean View $279,900 This pristine Villa with three spacious bedrooms plus a loft overlooking the great room is in an established neighborhood only a few miles off the beach with community amenities. Lowest Priced Villa in the community. Click to view: Fact Sheet | Virtual Tour

• September 11-14
  Delmarva Bike Week
  Ocean Downs Racetrack/ Ocean City Area
  Motorcycle industry leaders gather with more than 200 vendors & 100,000 motorcycle enthusiasts for four days of rides, fun, games, contests & free concerts. Thurs.-Sat., 9 a.m.-9 p.m.; Sun., 9 a.m.-4 p.m. Bruce Bennett. www.delmarvabikeweek.com.
• Sep 13, 2008 - 3rd Annual Chocolate Tasting
  by Friends of CHSP @ Biden Center in CHSP 1-4 PM $4 for 5 tastings. For more information call 302-945-8584 or 302-644-4923 or visit www.friendsofcapehenlopen.org.
• Sep 19-20, 2008 - Elvis Fest
  For more info call 302-227-3888 or visit deweybeachlife.com.
  
• Sep 19-21, 2008 - NASCAR Weekend
  NASCAR returns to the Monster Mile in Dover. For more info visit www.doverspeedway.com.
  
• September 18-21
  Sunfest
  Inlet Lot
  Ocean City’s biggest & best festival. Fine art, distinctive crafts, performers on two stages & a variety of food vendors including gourmet delights & Eastern Shore specialties. Fall children’s activities include pumpkin decorating, hayrides & inflatables on the beach. Try your luck at the Adler’s Treasure Hunt. Free continuous entertainment with the exception of ticketed evening headline entertainers. Tickets available on Ticketmaster.com. 800-551-7328 or Convention Center Box Office Mon.-Fri., 9 a.m.-4 p.m.. Sunfest hours, Thurs.- Sat., 10 a.m.- 10 p.m.; Sun., 10 a.m.- 6 p.m. Accommodations & Information: 800-OC-OCEAN. (800-626-2326). Ride the bus to Sunfest by using satellite parking or West Ocean City Park & Ride. The shuttle from Park & Ride is only $1 all day & parking is free.
• September 19-21
  Sunfest Kite Festival
  On the Beach, 1st St. – 6th St.
  Bring the family & let your spirits soar! Enjoy three days filled with spectacular kite flying. Thousands of spectators travel to see master kite flyers from around the world showcase their aerial displays of art. Fri.-Sun., 9 a.m.-9 p.m. Jay Knerr, 410-289-7855.
  

Information on how to be removed from this mailing If you do not want to receive this newsletter in the future, simply email me at leslie@bestofbethany.com with your email address to be removed or send me your request by mail at Long & Foster Realtors, P.O. Box 118, Bethany Beach, DE 19930.