Ocean Pines Real Estate Market Update

As you can see, there is still a lot of inventory available in the Ocean Pines single family home market. As of this morning, there were 313 single family homes on the market that have not sold.

New listings continue to increase and 345 new listings have been added to the inventory this year alone.

There have been 120 homes settled so far this year and 31 contracts are pending sale.

In June we have 10 homes Settled, 9 Contracts Pending and 17 New Listings hitting the summer market.

Price changes are also up this year, with 245 price changes to date, as well as a large number of withdrawn, expired and homes back on the market.

New construction sales continue to remain slow and most economic forecast indicate that we will see more of the same throughout the remainder of the year.

If you would like more detailed information on the areas real estate market or a FREE market analysis of your home, feel free to give me a call at 410-726-4260 or visit my website at http://www.sharoncurtiss.com I will be happy to assist you.

Please visit this site often for more real estate updates.

Sharon Curtiss, REALTOR

SHORT SALES IN REAL ESTATE

There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale." When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due (Read more)…

REPAIRING A DAMAGED LAWN

The important thing in repairing a lawn is to match the new, with what you already have in place so it's a nice blend. For example, you live in the north and you have a blend of Kentucky bluegrass (very common) and you've got a few dead spots that didn't green-up this past spring, you'll want to plant more Kentucky bluegrass blend. (Source: American-Lawns.com) More Information . . .

STUDY SHEDS NEW LIGHT ON LIFE EXPECTANCY OF HOME COMPONENTS

By any reckoning, a home is expected to last many years and serve several successive generations. But what about the individual components that comprise the house? How many years of service can a home owner reasonably expect from a roof or a door, a window or a whirlpool tub? (Source: NAHB) More Information. . .

Wondering when is the best time to sell your property in Ocean Pines, MD?

Based on data found in the Coastal Association of REALTORS® multiple listing system, from June 2006 to date, August was the month with the most contracts written and settlements with April coming in a close second.

When listing your property, keep in mind that based on industry information the majority of traffic occurs during the first 14 days of listing your property, so you want to be sure it is priced properly. These are the buyers who answered ads 60-90 days ago and are today’s seasoned purchasers.

After the 1st week, we will begin to see the traffic tapering off and these buyers won’t have the same sense of urgency the first wave of buyer’s had. They will be wondering “what is this property worth.”

By the end of the third week of marketing, the showings will have dropped off dramatically. These are the buyers just entering the market and not ready to buy for another 60-90 days.

As you can see, the summer months tend to be the best time to list your property for sale. Give me call today to see how much your property is worth. I can be reached at 410-726-4260 or send an email to sharon@sharoncurtiss.com. Check out my website at www.sharoncurtiss.com for additional information.

Best Time to Sell in Ocean Pines

Wondering when is the best time to sell your property in Ocean Pines, MD?

Based on data found in the Coastal Association of REALTORS® multiple listing system, from June 2006 to date, August was the month with the most contracts written and settlements with April coming in a close second.

When listing your property, keep in mind that based on industry information the majority of traffic occurs during the first 14 days of listing your property, so you want to be sure it is priced properly. These are the buyers who answered ads 60-90 days ago and are today’s seasoned purchasers.

After the 1st week, we will begin to see the traffic tapering off and these buyers won’t have the same sense of urgency the first wave of buyer’s had. They will be wondering “what is this property worth.”

By the end of the third week of marketing, the showings will have dropped off dramatically. These are the buyers just entering the market and not ready to buy for another 60-90 days.

As you can see, NOW is the best time to list your property for sale. Give me call today to see how much your property is worth. I can be reached at 410-726-4260 or send an email to sharon@sharoncurtiss.com. Check out my website at www.sharoncurtiss.com for additional information.

May 2007 Ocean City Condo Market Update

According the the local multiple listing service, the Ocean City condominium market saw 174 new listings in May. There were 72 contracts written with 81 settlements. The average days on market is 277 days (up from 226 days in April) with a Sell Price/List Price Ratio of 91% (down for 93% in April).

Click the link below for U. S. Economic Outlook for June 2007

http://www.realtor.org/Research.nsf/files/CurrentForecast.pdf/$FILE/CurrentForecast.pdf

April 2007 Ocean City Real Estate Update

In April the Ocean City condominium market saw another 184 new listings added to the inventory to bring the total number of Active Listings to 1,751. There were a total of 74 contracts written, bring the year to date total to 298.

Settlements to date are 225 units.

Here are some other interesting statistics.

March 2007 Ocean City Maryland Condo Market Update

The Ocean City Condominium market is starting to heat up after the sluggish Fall/Winter.

The Coastal Association of REALTORS® most recent report shows 101 contracts in March ’07 up from 99 contracts in March ’06. There is still a lot of new inventory coming on the market with 232 new condos listed in March, with over 1700 units still on the market for sale. The average number of days on market is 204 days with a List/Sell Ratio of approximately 91.26%.

What does this mean to Buyers? Well the law of economics is Supply vs. Demand. There are a lot of properties to choose from and some sellers entering the market are now being educated to the change to the “Buyer’s Market” and are beginning to be more open to negotiating or pricing their properties to sell.

As the weather warms up, we are seeing more buyers in town getting ready for the summer season. Keep in mind, the baby boomers are expected to retire in large numbers, and a home at the beach has always been high on the list.

So don’t wait for the next market boom to make your move. With mortgage rates still low, “NOW IS THE TIME TO BUY”. Visit my website at www.sharoncurtiss.com to search for current listings in the Coastal Delmarva Region.