If wondering whether the housing recovery is real, just ask Tony Forrest, whose job includes tracking the sales and settlements for Schell Brothers, a builder based in Rehoboth Beach. Last week, as Forresty was tallying the sales for Senators, a single-family home neighborhood on Gills Neck Road in Lewes, he realized that the community had reached a milestone of 100 sales. What made that revelation even more notable was that it was Forrest who had purchased the 100th home.
“This is our second Schell Brothers home,” Tony explained about the Mulberry floorplan he and Glyn Edwards have selected as their home at Senators. “I knew sales were going fast, but it still surprised me when I noticed that our purchase brought the total number to 100. As soon as I realized that, I think everyone in the office heard me shout.”
With just 229 homes planned, Senators is almost halfway sold out, just 17 months after opening. Jack Lingo Asset Management is the developer for the property while Schell Brothers is responsible for building, designing and selling the homes. The strong performance at Senators - a brisk pace of nearly six sales per month - is a good example of why the national housing recovery has prompted experts to predict increases in interest rates and house prices in the coming year. Like Forrest and Edwards, home shoppers who buy in the near term are likely to find that soughtafter sweet spot in the real estate market, before prices and interest rates begin to climb.
Now that the 100th home is sold, Schell Brothers is planning a special event to release the next phase of homesites at Senators, a section that has been highly anticipated for several weeks. The public is invited to attend the event, which will be held at the Henlopen model home in the heart of the community Saturday, Feb. 22, from 11 a.m. to 4 p.m.
“We started putting the word out about the new section Feb. 1,” said Dan
In addition to releasing the new phase, Schell Brothers will be breaking ground on the community clubhouse and pool that will serve as a neighborhood gathering place at Senators. According to Kauffman, buyers have been drawn to these amenities and to the community’s overall value, with homes that include high performance features and efficient natural gas.
“It really is a one-of-a-kind community,” said Chris Schell, owner of Schell Brothers. “Where else can you find all of this east of Route 1 - beautiful homes... natural gas... energyefficient features - and priced from the $400,000s?”
According to Forrest, the answer to that question is a nobrainer.
Schell Brothers is located at 20184 Phillips Street, Rehoboth Beach. Chris and Preston Schell have set the standard for home building excellence, high performance features, and responsible land use in Coastal Delaware. Sussex County is a natural draw for new home buyers due to the beach environment and its ranking among the most favorable of all U.S. counties in terms of property taxes as a percentage of home value.
For more information about Schell Brothers and the Senators community, go to www.schellbrothers.com or call 302-226-1994.