Should I Still Buy Real Estate After All That Has Happened?
Rehoboth Beach Delaware is called the Nation’s Summer Capital because we are such a common second home and entertainment location for the powerful and influential people of Washington D.C. There are few people making over $75,000 a year in the DC professions who do not frequent this area when they need privacy, space, fresh ocean air and relaxation. It’s not just summer that draws them anymore, they come year ’round. And it’s not just Rehoboth Beach anymore, they populate Lewes, Dewey Beach, Bethany Beach, Fenwick Island and all the little towns near the Delaware Beaches.
During the past several years all real estate, especially waterfront real estate or beach real estate anywhere has been a phenomenal investment. Rehoboth area increases have been as much as 30-40% per year in the ocean block for the last few years! Part of this surge was just a catch-up from nearly a decade of relatively flat appreciation rates.
While Washington D.C., along with numerous other cities has seen price increases in real estate of 15-30% per year over the last few years. While the rest of the country has little if any appreciation in real estate values this year DC has remained hot, though not as hot as last year. Most areas of our country have had no appreciation in prices on average for this year
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