Ocean City and Ocean Pines Real Estate Market Update and Real Estate Related Articles

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2009-03-10T18:16:00.001-07:00

Sharon's Market Update

2009-03-10T17:38:00.000-07:00

Opportunity of a lifetime for First Time Home Buyers

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers. But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. The tax credit is for first-time home buyers only. The tax credit does not have to be repaid. The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. If you or someone you know is eligible and wants more details, give me a call.

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Ocean Pines Market Update

As of Feb 25, 2009 we currently have 317 single family, townhomes and condos on the market for sale in Ocean Pines. In 2008 there were 204 units sold. At an average of 17 per month that gives us a little over 18 months of inventory. So far to date in 2009, we have had just 13 properties go to settlement. The good news is that we have 23 properties pending settlement and 18 of those went under contract in February, so things may be picking up after all. Go to my website to search for all available properties in the area so you can take advantage of the great prices too!

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Ocean City Market Update

So, what's happening at the beach? There are currently 1816 homes/condos for sale in Ocean City. In 2008 there were 742 units sold. That means there are about 61 months of inventory. The MLS indicates that 55 properties have settled in 2009 and 219 properties are currently pending. Ocean City is a little harder to report since there are a lot of new units that are not in the MLS until after they go to settlement or not at all. Other news in Ocean City. The tax assessor has been out and it looks like OC property assessments have dropped an average of 20%. There are plenty of good deals out there, so give me a call.

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Captain's Cove Update

Good News! The Captain's Cove Clubhouse is open and it is beautiful. If you haven't been down in a while, it is worth the trip. Stats as of 2/25/09; 25 homes sold in 2008, 2 homes pending in 2009, 42 lots sold in 2008, 1 pending in 2009. Prices are down, so if you have been looking for a lot to build your next home, give me a call and I will be happy to send you an updated list.

New Home to be Built in Ocean Pines, MD

2009-01-27T13:12:00.000-08:00

Photo Gallery

Home to be built	Lot	Yacht Club
Marina	Yacht Club Dining	Tennis
Family Pool	Beach Club in OC

Description

Now is the Time to Buy Your NEW HOME! Once this home is built, you will immediately be drawn to the soaring ceilings and bright open feeling from the moment you open the door. The dining area is open to the living room and kitchen, giving you plenty of space to entertain all your family and friends. The kitchen has a pantry and plenty of counter tops for all your preparations. Quiet mornings can be spent reading the paper with a cup of coffee or enjoying nature on the wonderful screened porch and rear deck. The home’s floor plan includes everything you need for single level living, plus two guest bedrooms and bath on the 2nd level for added privacy. There is even a finished storage loft and attic above the 2-car garage to store all your treasures. The builder will be happy to discuss custom options or changes to the design of the home.

Features

Bedrooms:	3
Bathrooms:	2.5
Parking Spaces:	4
Year Built:	2009
Subdivision:	Ocean Pines
Lot Size:	.23 acres
Garage Size:	2
School District:	Worcester County
Square Footage:	1704
Agent Name:	Sharon A. Curtiss
Broker:	Hileman Real Estate, Inc.
MLS #:	452153

Location

110 Martinique Circle Ocean Pines MD 21811

vFlyer Id: 2212431

My Listings

2009-01-24T16:49:00.001-08:00

It's Time to Buy!

2009-01-21T08:05:00.000-08:00

Ocean Pines Market Update
Well now that 2008 is finally over, I thought I would update my Blog to show the sales trends in Ocean Pines since 1995.

As you can see there have been a lot of home sold over the years and as expected 2008 had the lowest amount sold. Our current inventory shows 244 single family homes on the market and prices have returned to more affordable levels.
This is great news for first-time buyers entering the market place. With interest rates at historic lows and the current $7500 first time buyer federal tax credit, we should all be encouraging anyone we know that qualifies to take advantage of this once in a lifetime opportunity. Many of you out there have children that can now afford the dream of homeownership.
If you need more information about purchasing a home or any other real estate related question, please feel free to give me a call at 410-726-4260. I will be happy to talk with you. Visit my website where you will find FREE Buyer and Seller Tips at www.sharoncurtiss.com.

HOW DO YOU KNOW WHEN IT IS TIME TO BUY?

2008-02-02T20:00:00.000-08:00

HOW DO YOU KNOW WHEN IT IS TIME TO BUY?
I came across a really good article written by Blanche Evans in REALTY TIMES that will give you a good idea when it is time to buy. The Ocean City condo market has many great buys for the savvy buyer. As an Accredited Buyer Representative, Ocean City REALTOR Sharon Curtiss has the experience to find the perfect Ocean City condo for you. Whether this is your first investment or you are a seasoned investor looking for a 1031 Tax deferred exchange, I have the knowledge to make your purchase a smooth one.
Six Signs It's Time For Home Buyers To Buy as written by Blanche Evans in REALTY TIMES January 22, 2008
If you're waiting for signs of a housing bottom, join the club. Nobody blows a whistle and say, "It's time to buy!"
That's why market timing is an art, not a science, but you can improve your odds of buying wisely.
First, stop paying attention to the national media. Fear has sidelined buyers even in good markets, and that's exactly when you need to take advantage -- before other buyers wise up.
Second, be ready to pounce when you see the home you want.
Click here to read the full article...

REAL ESTATE OCEAN CITY MARYLAND - BUYER MARKET REPORT

2008-01-27T09:42:00.000-08:00

Real Estate Ocean City Maryland - Buyer Market Report.

There are many condos/townhomes for sale in Ocean City, and prices have never been better! There are currently 1656 Condos For Sale in Ocean City. Condo Buyers in Ocean City are finding some of the best condos For Sale in the Ocean City area, with prices ranging from $115,000 up to $3,799,000. Why pay rent in a hotel room for $900 to $1500 per week in the summer when you can own a one bedroom condo at the beach in Ocean City for around $1100 per month and take advantage of all Ocean City has to offer year round? Ocean City REALTOR® Sharon Curtiss can help you find and buy the right condo/townhome in Ocean City with the best price and terms.

If you need help finding the right Ocean City Mortgage Lender, then Ocean City REALTOR® Sharon Curtiss can help. Call 410-726-4260 or visit my web site at http://www.sharoncurtiss.com

I have a one bedroom condo nicely furnished in the Bonnie Belle Condos at the corner of Coastal Highway and 123rd St - Ocean Block listed for $209,900. Click this link for a virtual tour http://www.sharoncurtiss.com/Listing/VirtualTour.aspx?ListingID=1126562

Ocean Pines Real Estate Market Update

2007-07-12T09:44:00.001-07:00

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

2007-07-12T09:43:00.001-07:00

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

2007-07-12T09:42:00.001-07:00

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

2007-07-12T09:41:00.001-07:00

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. . .

2007-07-12T09:40:00.001-07:00

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

2007-07-12T09:38:00.000-07:00

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

2007-06-08T07:29:00.001-07:00

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

2007-05-12T07:33:00.000-07:00

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

2007-04-16T14:09:00.000-07:00

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.