Home Buying in Ocean City : Questions & Answers

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Sarah Peck, Real Estate Pro in Severna Park, MD
Sarah Peck answered:
Just starting to look into buying an oceanfront condo for rental prop/investment. Generally speaking, can you cover expenses just from rental income?
Hello Elaine,

I'm an agent with Prudential PenFed Realty and would love to help answer this question.

I'll need some additional information from you to give you an accurate respon ... more
0 votes Share Flag Yesterday at 3:06pm Home Buying in Ocean City
pamuu, Home Owner in Fenwick Island, DE
pamuu answered:
Are there lists of people to partner with (50%/50%) to buy a property in OC?
If you are still looking I have an awesome 2br 2bath oceanfront condo that has a 30% share available in Fenwick Island. You can contact me at pamuu@comcast.net.
0 votes Share Flag Fri Jan 24, 2014 Home Buying in Ocean City
Mechelle Nic…, Real Estate Pro in Ocean City, MD
Mechelle Nichols answered:
Looking for summer season rental around Bayshore Dr.area in Ocean City, Md
Contact pat.terrill@gmail.com

Pat Terrill is a Rental Manager in Ocean City, MD and she would be happy to discuss rental options with you.

Patricia Terrill
President Maryland A ... more
0 votes Share Flag Mon Jan 20, 2014 Home Buying in 21842
Linda Moran, Real Estate Pro in Ocean City, MD
Linda Moran answered:
Can anyone recommend an experienced real estate attorney in ocean city and home inspector who can review the bylaws for the buyer?
Hi Walsh. Will Esham is a trusted real estate attorney who I would recommend you contact.
0 votes Share Flag Fri Jan 17, 2014 Home Buying in Ocean City
Jessica Hood,…, Real Estate Pro in Odenton, MD
Jessica Hood, Realtor & ASP answered:
What happens if proceeds of sale do not cover the outstanding mortgage and seller is required to bring cash to the table to pay off the mortgage and?
Oh boy, that should have been addressed with the Seller and his agent BEFORE he accepted the offer. If the Seller is unable to bring the cash to settlement and the mortgage can't be ... more
0 votes Share Flag Mon Oct 7, 2013 Home Buying in 21842
Mechelle Nic…, Real Estate Pro in Ocean City, MD
Mechelle Nichols answered:
Why are these townhouses selling or 70,000 to 80,000 when similar ones are selling for 280,000?
Hi Sallyduke,

What you will find in the price range of 70K to 80K? Efficiency condo's under 400 sq. ft. with 0 bed & 1 bath from $69,900 to $89,900 with a pool. All conveniently loc ... more
1 vote Share Flag Thu Aug 29, 2013 Home Buying in Ocean City
David Leider…, Real Estate Pro in Bethany Beach, DE
David Leiderman answered:
went to buy a condo in ocean city md but cant need a owner financing all condo are covenant not fha need to move sep 1
Hi KC.

Who did you use as your lender? Ocean City is a town driven by condos. All of our local lenders know how to get loans closed. I don't have as much faith with lenders from o ... more
0 votes Share Flag Mon Jul 8, 2013 Home Buying in Ocean City
Rhonda Frick, Real Estate Pro in 19930
Rhonda Frick answered:
Ocean Front Investment Property for weekly rentals in Ocean City,MD
Hi RK,

There are several homes that would fit this description. With the unfortunate destruction of the NJ shore homes, we are already experiencing more demand for seasonal and week ... more
0 votes Share Flag Fri Mar 22, 2013 Home Buying in Ocean City
Rhonda Frick, Real Estate Pro in 19930
Rhonda Frick answered:
What affect if any will Hurricane Sandy have on property prices in OC?
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 ... more
0 votes Share Flag Fri Mar 22, 2013 Home Buying in Ocean City
David Leider…, Real Estate Pro in Bethany Beach, DE
David Leiderman answered:
When buying a two bedroom condo and considering resale value, what is more important, square footage or having a second bathroom?
I would have to agree with everyone before me. If the choice is strictly between more square footage and a second bathroom you have to take the latter. With that said, you have to con ... more
0 votes Share Flag Tue Oct 23, 2012 Investment Properties in Ocean City
Adam & Harry…, Real Estate Pro in Salisbury, MD
Adam & Harry Roop answered:
We are looking at a condo ocean front at Gateway Grand Ocean City? Have the prices it the bottom? Thank you
Charles,

The Prices there were at the bottom about a year ago. They have actually gone up. You can keep an eye out on foreclosures in that building but i haven't seen much activity ... more
0 votes Share Flag Mon Oct 22, 2012 Home Buying in Ocean City
Terry Looney,…, Real Estate Pro in Ocean City, MD
Terry Looney, CRS,GRI answered:
Whispering Woods, Berlin, MD
Hi,
I just answered your question based on a single family home deveopment in West Ocean City, MD. It then occured to me that you may be asking about the condominuim development Whisp ... more
0 votes Share Flag Sun Feb 26, 2012 Home Buying in Ocean City
Jeffrey Mess…, Real Estate Pro in Ocean City, MD
Jeffrey Messick answered:
what are the average condo fees for ocean city , ocean front 2 bedroom 2 bath at the atlantis?
The condo fees for a 2 bed 2 bath unit in The Atlantis are $4,298.00 also the sewer fees are $428.00 and taxes will run $1387.00 city and $2963.00 state/county. If you have any other qu ... more
1 vote Share Flag Mon Aug 29, 2011 Home Buying in Ocean City
Deeley Chest…, Real Estate Pro in Ocean City, MD
Deeley Chester answered:
Hi there I am currently in the market looking for foreclosed homes or bank repo's.I n the Ocean City Maryland area.houses or mobile homes.
Hi Chuck,
I realize this was posted a while back but thought I would follow up. If you would like to receive e-mail alerts of new listings of foreclosures that would match your search ... more
0 votes Share Flag Mon Aug 22, 2011 Foreclosure in Ocean City
Dave Leiderm…, Real Estate Pro in Ocean City, MD
Dave Leiderman answered:
NEED ADVICE FOR PURCHASING a 3BR/2BA penthouse condo in Ocean City ,MD direct ocean front. The place is 30 year old and 100% unimproved.
Unfortunately time elapsed on the market doesn't always have the impact that you'd hope for. Its usually a clear sign that the Seller(s) are unrealistic to the value of the p ... more
0 votes Share Flag Sat Jul 23, 2011 Home Buying in Ocean City
Rhonda Frick, Real Estate Pro in 19930
Rhonda Frick answered:
Hello, We're buying a forclosed townhouse in OceanCity, MD. The HOA dues "maybe" past due, who pays them?
The bank will need to provide you with a clear title/ deed to the property you are purchasing. If there are any outstanding liens against the deed your title company handling the closi ... more
0 votes Share Flag Thu Jul 7, 2011 Foreclosure in 21842
Dave Leiderm…, Real Estate Pro in Ocean City, MD
Dave Leiderman answered:
Looking for a property to purchase in the Ocean City area. Considering North Ocean City, West Ocean City and Ocean Pines....
Hi Karen.

I live and work in Ocean City. I also have an 8 year old and we practically live at Northsaide Park. Its one of the best amenities in OC and they Rec Dept. does a wonderf ... more
1 vote Share Flag Mon May 9, 2011 Home Buying in Ocean City
Voices Member,  in
Voices Member answered:
The Adagio has an indoor pool; Would an indoor pool make the Adagio a better value then the Mayfair beach?
Hi Joan,

If you are planning on generating rental income, the indoor pool may have a higher desirability for a tenant. On rainy days, and in off season times, the pool can still be ... more
1 vote Share Flag Mon Apr 11, 2011 Home Buying in Ocean City
Myrna Wright, Real Estate Pro in Ocean City, MD
Myrna Wright answered:
Any advice on buying at the Mayfair Beach vs the Adagio.?
The Mayfair Beach is located in North Ocean City; has larger units than the Adagio that is more centrally located. The Mayfair Beach was built in 2005 while the Adagio was built in 200 ... more
0 votes Share Flag Mon Apr 11, 2011 Home Buying in Ocean City
Vickie Rohrer, Real Estate Pro in Salisbury, MD
Vickie Rohrer answered:
Anyone with foreclosures in Ocean City, MD that are Bank owned for $50,000 or less (IF POSSIBLE) Thanks!?
CURRENT FORECLOSURES / REO PROPERTIES IN OCEAN CITY MARYLAND. http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/run_public_link.html&public_link_tech_id=20110319211114583 ... more
0 votes Share Flag Sat Mar 19, 2011 Home Buying in Ocean City
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