July 2017

Found 4 blog entries for July 2017.

Long & Foster’s Leslie Kopp Group Ranked Top in Nation
Bethany Beach-based team earns 159th spot on REAL Trends’ The Thousand list

 The Lesie Kopp Group Bethany Beach

CHANTILLY, Va. – The Leslie Kopp Group of Long & Foster Real Estate, based in Bethany Beach, Delaware, ranked 159th among real estate teams nationwide based on sales volume in 2016 on REAL Trends’ annual The Thousand list.

Kopp, who has specialized in the sale of coastal properties since 1989, says she attributes her group’s success to always putting her clients’ interests first, which results in many referrals from previous transactions.

“Our group is honored to be ranked as one of the top real estate groups in the country, and we’ve worked hard to achieve this level of success,” said Kopp. “This ranking shows

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Courtesy of the Bethany-Fenwick Area Chamber of Commmerce

WHATS HAPPENING ON 404?!

 Delays are expected as the 404 widening project continues throughout the summer. Progress can be a tricky thing - to go forward it is often necessary to forge new roads, which has certainly been the case in the process of creating a dual highway between U.S. Route 50 and the Maryland/Delaware line. It has been the summer of slowdowns on Maryland 404, but the good news, according to State Highway Administration spokesman Robert Rager, is construction is on schedule. The timeline set forth by Gov. Larry Hogan for SHA to have four lanes open to traffic - two west bound and two east bound - by the end of November 2017 is approaching quickly. Learn more and stay up to

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Inventory levels at the beach are as low as we have experienced in many years. In the Bethany Beach and Fenwick Island area, the number of single family homes and condo/townhomes currently for sale are down 30% and 18% respectively when compared to July of 2016.

If you follow our blog, you might recall that this is the time of year when we like to look at absorption rates. This statistic compares the pace of sales (which has remained strong) with inventory levels to tell us whether we are trending in the direction of a buyer’s or seller’s market. Generally speaking, 7 months of inventory or less is considered a seller’s market.

Bethany Beach Real Estate Inventory 2017

The graph clearly indicates that we are approaching a seller’s market. Aside from a small rise in South Bethany, where

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Earlier this month, the Delaware General Assembly voted in favor of House Bill 279 which increased the Realty Transfer Tax by 1%. The increased tax will apply to contracts dated on or after August 1, 2017.

The current total transfer tax is 3% and it is typically split equally between the buyer and seller at the time of settlement. Half of this goes to Sussex County and half to the State of Delaware. The new bill increases only the state’s portion which means the county will receive 1.5% and the state 2.5% for a total 4% tax at settlement.

Delaware Transfer Tax


While this is important information especially if you are preparing for a future purchase or a sale, we do not believe the net tax increase of .5% for each party at settlement will have an effect on demand for

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