Home Selling in Ocean City>Question Details

Frank Teti, Home Seller in Ocean City, NJ

Is this market good for finding single family homes at reasonable prices?

Asked by Frank Teti, Ocean City, NJ Tue May 8, 2012

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12
This is a great time to be looking for a single family home! Mortgage prices are at historically low figures! If you want to live near the seashore this is a double bonus as you get the security of a year round home with all the benefits of a vacation home in the summer! If you need help finding a home, I would be happy to help! There is something there for everyone you just need to know where to look!
Joanne Bernardini
Sales Associate
Certified Short Sale Agent
Coldwell Banker-Casa Bella Realtors
609-947-2451
0 votes Thank Flag Link Fri May 25, 2012
The home price is low in last 40 years. This is the best time to buy because interest rate and price is low.
0 votes Thank Flag Link Wed May 16, 2012
Hi Frank

The markets nation wide are changing.

Go to the Newsletter link below and choose your Metro Area:

http://ruthandperry.com/RealtorWebPage?template=embed&cu…

Also consider this link:

http://www.trulia.com/blog/perry_mistry/2012/05/rates_going_…


Also get in touch with the many fine agents responding to your question.

Good luck.

Perry
0 votes Thank Flag Link Wed May 16, 2012
Frank, historically low interest rates are a key driver to relative home values. From all the posts of my esteemed collegues obviously the overwhelming response is yes. Here's a link to all single family residences currently for sale in the 400k to 600k price range in Ocean City.

http://www.oceancityareahomes.com/listings/propertytype/SING…

Feel free to adjust those parameters as you see fit. The website will provide you with all the active listings in the MLS and you can set up email alerts to send you new listings as the come on the property.

Call me if you have any questions.
0 votes Thank Flag Link Wed May 16, 2012
Frank

A simple yes is the answer, shoot me an e-mail and I will e-mail you homes in Ocean City in your price range I would say you could find many homes in the 400-600K price range.

BEACH TO BAY
CALL ED MAY!

edmay@beach2bay.com

cell 609-425-3187
0 votes Thank Flag Link Mon May 14, 2012
Now is an excellent time to purchase a single family home in Ocean City! The mortgage rates are currently at historically low rates and sellers are motivated! Most want to take this opportunity to "move up" to a better shore home under these same conditions! If I can be of help to you in finding your home, either at the beach or farther inland, please give me a call!
Joanne Bernardini
Sales Associate
Certified Short Sale Agent
Coldwell Banker
Cassa Bella Realtors
601 New Road
Linwood, NJ 08221
cell-609-947-2451
0 votes Thank Flag Link Sun May 13, 2012
Hi Frank,
I think there are great opportunities popping up in Ocean City all of the time. Reasonable price is relative?? What is reasonable to one may be expensive to others. What is the price range you are hoping for? Do you have a wish list? Number of Bedrooms, baths, etc.. How important is proximity to the beach??
0 votes Thank Flag Link Tue May 8, 2012
Frank,
It was perhaps a little easier last year to help people find single family homes that work for them in their price range than it is this year. About 33% more single family homes sold in Ocean City in 2011 than in 2010, but this year volume has stabilized while demand remains high. The inventory has dropped, so it takes more work to find what you want. Also, buyers are making the mistake of sitting on the sidelines, watching properties online, then seeing them go under contract and asking themselves, "Why did we wait?". The question they should have asked, earlier, is "What is stopping me from buying now?" We are also seeing buyers who wait find themselves in a bidding war. This has not resulted in price escalation and I would not expect it to do so in the short term, but we are seeing people shut out because they did not get aggressive and pursue a property once they found one that they liked.

I think affordability in Ocean City is as good as it is going to get, and rates are as low as they are going to go.

Joan Farrell
Monihan Realty
Ocean City NJ
609-517-7644
800-255-1311
joan@monihan.com
0 votes Thank Flag Link Tue May 8, 2012
Frank, The short answer to your question as to "reasonable prices" is "it depends on the seller". There are a "reasonable" number of single-family homes on the market in most neighborhoods. If you're willing to pay a "reasonable" price and you have a willing, "reasonable" seller you should be able to locate both a property to your liking and a reasonable purchase price.

The better question may be "Is there a better time coming to make a deal"?

The market currently has available inventory, low rates and reduced prices.

What better time to try?

Steve Booth
Prudential Fox & Roach Realtors
200 34th Street
Ocean City NJ 08226
(609) 399-8822
(800) 345--7863
stephen.booth@prufoxroach.com
0 votes Thank Flag Link Tue May 8, 2012
There could not be a better time than now with the lowest interest rates in our lifetime and the lowest home prices in ten years.

Beach to Bay Call

Ed May

REMAX

609-425-3187
0 votes Thank Flag Link Tue May 8, 2012
Frank,

Prices are holding steady these days but are definately the lowest that they have been since 2004-2005! Every market is different and the word "reasonable" is very subjective when talking about pricing. If you are familiar with Ocean City and what the former market price-points were, then I think you will find that today's pricing to be very reasonable. please feel free to contact me and I will send you the appropriate single family listings for your price-point.

Kevin G. Redmond
Broker/ Salesperson
Ocean City Realty
109 34th Street
Ocean City, NJ 08226
cell-609-398-6762
fax- 609-399-5499
kgredmond@comcast.net
2011 Ocean City Board of Realtors "REALTOR of the Year"

The highest compliment I can receive is a referral of friends and family.
0 votes Thank Flag Link Tue May 8, 2012
Hi Frank,
From what I am seeing, the single family market has been very strong. Properly priced homes are selling quickly in the single family home market as I have seen a shift from condo to single family buyers. I currently have qualified buyers that are having a very tough time finding a single family home in Ocean City in certain price points. I hope that helps a little bit and if I can help you out in anyway, please give me a call on my direct line at 609-432-3634 and we can further discuss pricing and current market conditions.
Have a Great Day!
Peter Adams
RE/MAX at the Shore
pete@peteadamsoc.com
0 votes Thank Flag Link Tue May 8, 2012
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