Home Buying in Ocean City>Question Details

livelyvc, Home Buyer in Fairfax, VA

What affect if any will Hurricane Sandy have on property prices in OC?

Asked by livelyvc, Fairfax, VA Wed Oct 31, 2012

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Since Ocean City, MD made it through the hurricane Sandy storm okay, I would predict it will have a positive effect on pricing. Since the NJ shore properties were so devastated in the storm, the MD and DE coastal beaches are more popular than ever this year. I personally sold 2 ocean front condos for my sellers right after the storm. The buyers were both so pleased that the buildings and the town took a near hit and came out okay, that they went through with their purchases and are really looking forward to this summer in their new homes.

If you are interested in a beach home purchase in MD or DE, I would not wait too much longer. The media tells everyone about the horrible real estate market to get ratings, but those of us "in the trenches" selling beach homes here know a different story.

I'm more than happy to help in any way that I can, if you would like a more detailed look at the current market conditions for either Maryland or Delaware markets. Contact me through http://www.Rhondafrick.com.
0 votes Thank Flag Link Fri Mar 22, 2013
I have a second home in Ocean City and it made it through just fine, never even lost power. Can't say that about my primary home!
0 votes Thank Flag Link Wed Oct 31, 2012
That's a great question. It may put sales on hold if they are in an area that needs clean up. But I don't think it should have any long term effects. Second home and vacation properties are always going to be a fairly steady market.
0 votes Thank Flag Link Wed Oct 31, 2012
Buy now when it's messy. Some of the homeowners we're probably waiting for a storm like this to claim insurance $ and fix up and update their properties.
0 votes Thank Flag Link Wed Oct 31, 2012
I doubt it will have any. If anything, Ocean City might become more preferrable compared to the neighboring beach commmunities on the east coast. We sustained significantly less damage than most and the town has done an incredible job of cleaning up and restoring itself. I can't envision prices going down because of Sandy. The only way they'll go up dramatically is if there's a swell of demand and a severe increase in sales/decrease in inventory. I'd wager that's far fetched at this juncture. Contrary to popular belief, this is as steady of a "buying season" as we have. True buyers will look more now than in the summer because there are more properties available to tour, whereas, in the summer most are rented and only have a small window of opportunity to be shown. I hope this helps. Please contact me if I can be of further assistance.
0 votes Thank Flag Link Wed Oct 31, 2012
When their selling season starts next March, likely no adverse effect.
0 votes Thank Flag Link Wed Oct 31, 2012
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