Home Buying in 21811>Question Details

Joyce, Home Buyer in 21811

The homes selling in Ocean Pines are listed at $30,000-50,000 less then sale price 3-4 years ago, why?

Asked by Joyce, 21811 Mon Apr 27, 2009

Have the homes values decreased that much? I was looking at homes around $200,000 but hesitant that is might not be a good investment.

Help the community by answering this question:

Answers

4
The Market is such now that it is the best time to Buy. There are some very good prices and deals in Ocean Pines for primary living or investments. With the slots at Ocean Downs and the golf courses in the area, many folks want to rent in the Pines. It is a great time to buy an investment property. Interest rates are low and the value is there. If you are interested in property in Ocean Pines, Ocean City or surrounding areas, contact me cmamedori@cbmove.com Enjoy SPRING !
0 votes Thank Flag Link Mon Mar 19, 2012
You nailed it Cynthia! 30 to 50k off is just about right.

Prices went up too fast and too high. This is a natural and HEALTHY "pullback." Ocean Pines remains a super strong investment because it is unique and it is in a great location relative to the beach.

Simple supply & demand has driven prices down. Buyers have been taking a wait-and-see approach (low demand) and so as people have decided to sell over time (for their own varied reasons) has driven up supply. Sellers have to price their homes aggressively to nab the limited supply of buyers. But, buyer activity is definitely picking up.

No one can predict exactly where the "bottom" is, but I think if you want something for summer of 2009 you will probably not regret buying it now. If you want to wait, then August-September-October could turn out to be a "post summer sale" or it could be that even waiting that long will "miss the bottom."

I recommend e-mail alerts to notify you the same day of price changes, new listing, settlements (so you can see what they sold for), etc.

If you e-mail me at todd@SellingBeachToBay.com I would be happy to set up your e-mail address in our automated system to send you such alerts. It is a lot of fun watching the market evolve that way and whether you buy now or later you WILL BE in touch with the market by following events this way.

Thank You
___________________________________________________________
Todd Grimm
Atlantix Real Estate

443-880-2657 cell
410-524-4433 (o)
877-588-6263 toll-free

Serving: Ocean City, Ocean Pines, Berlin, and Salisbury
http://www.SellingBeachToBay.com
0 votes Thank Flag Link Tue Apr 28, 2009
Cynthia,The real estate market has experienced a "correction". Not only in Ocean Pines, but in most areas of the country. Prices have corrected themselves to more realistic values after we had experienced unprecedented gains over the past several years. Experts will agree that these price adjustments were long overdue.If you are looking to buy a property and keep that property for more then a few years, most would agree, that we are at the bottom of the market, and that in time, we will see prices resume a normal rate of appreciation.Real estate historically has been, and I believe will continue to be, the best hedge against inflation.

If I can be of any assistance, please do not hesitate to call or email.
0 votes Thank Flag Link Tue Apr 28, 2009
Hello Cynthia,

Home prices have adjusted to a more realistic value compared to just a few years ago, when prices were soaring in a sellers' market. Conditions have changed dramatically, making this the best opportunity for buyers in several years. I feel we are near the bottom of the "trough" in the real estate market and there are some compelling opportunities in Ocean Pines and other nearby areas. With interest rates at unbelievably low levels, it makes great sense to be a buyer of real estate right now. If you have high credit scores and can document your income, you have possibly a once in a lifetime opportunity to make a great investment in real estate at historically low interest rates, which will likely rise in the not-to-distant future. I would be most pleased to assist you in your search for an Ocean Pines home. I would love to share more with you. Feel free to contact me at 410-977-2519 or at lquasney@resortquest.com.


Linda Quasney
Licensed in MD & DE
ResortQuest Real Estate
302-436-1100 Office
302-541-8892 Office Direct
0 votes Thank Flag Link Tue Apr 28, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer