Ocean City : Questions & Answers

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Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
Why is it easier to buy a condo in Ocean City, NJ if you use a local lender as opposed to one from Pennsylvania?
The Fannie Mae, Freddie Mac rules dictate that any property that can be rented for a period less than thirty days is considered a hotel. They don't back loans of this sort so lenders th ... more
0 votes Share Flag Fri Sep 7, 2012 Home Buying in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
What are the condo fees for the Homestead Hotel (805 East 8th Street) in Ocean City?
This building is a hotel converted to condos. I have sold several of these units . The fees are $358. It covers general maintenance, insurance, trash and some utilities. It is an old bu ... more
0 votes Share Flag Fri Sep 7, 2012 Home Buying in Ocean City
Ken Fowser, Real Estate Pro in Ocean City, NJ
Ken Fowser answered:
I am looking to invest in property either in the Poconos or the Jersey Shore (Ocean City, etc.) Which area would offer better rental income?
Ocean City is a Shore Thing.

Seas the Day!

WWW.Kenfowser.com
0 votes Share Flag Thu Sep 6, 2012 Home Buying in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
what is the monthly condo fee?
A condo fee by definition is a fee that is charged to all condos located on a particular property and covers establishing a reserve that will be used to cover the "common costs" of th ... more
0 votes Share Flag Thu Aug 23, 2012 Home Buying in Ocean City
Mary Petti-A…, Real Estate Pro in 08820
Mary Petti-ABR,SFR, Relocation answered:
What happens to my $1,000 deposit that I put down on a home if the deal falls through?
Unless there is a breach of contract (per terms OF the contract) deposit money is returned to the buyer.
0 votes Share Flag Thu Aug 23, 2012 Home Buying in Ocean City
Caroline Wat…, Real Estate Pro in Ocean City, NJ
Caroline Watts answered:
who is the association for property at 3436-3438 central avenue? How do we look up info of the property manager for this association?
Hello Helen,
The association is only made up of two of the 6 Homeowners. This property is my listing. My Seller happens to be the President. Give me a call or shoot me an email and I ... more
0 votes Share Flag Thu Aug 23, 2012 Home Buying in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
I am looking for a yearly rental in Ocean City for myself and my wife. I wanted to see if anything with 2 br was available for under 1300?
I have a new rental for $1200 in Ocean City. It is 2 bedroom, 2 bath, lots of off street parking! Quiet neighborhood. Modern and clean!
Joanne Bernardini
609-947-2451
joannebernardin ... more
0 votes Share Flag Tue Aug 21, 2012 Rentals in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
How can one find a coop or another group of people interested in doing a coop vacation home?
You should check out the condos available at 300 Ocean Ave. This is a true co-op ownership building. Maybe the ONLY one in Ocean City, NJ! T here is currently one unit for sale for $140 ... more
0 votes Share Flag Sat Aug 11, 2012 Home Buying in Ocean City
Ray Akers, Real Estate Pro in Seattle, WA
Ray Akers answered:
Would Fractional Ownership/Time Share work in a resort/summer town like Ocean City, NJ?
Caveat emptor! Let the buyer beware. Time shares are increasingly unpopular. That's because there are maintenance costs and assessments that come as a nasty surprise to fractional ow ... more
0 votes Share Flag Sun Aug 5, 2012 Agent2Agent in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
How much is the NJ real estate Transfer for senior citizens on a sale of $325,000? Thanks.
The realty Transfer Tax is calculated on the deed consideration as follows:
FIrst Layer:
$4.00 per thousand up to $150,000
$6.70 per thousand over $150,000 but less than $200,000
$7 ... more
0 votes Share Flag Fri Aug 3, 2012 Home Selling in 08226
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
Can I get a mortgage for a recent condo conversion in OCNJ with 10% down?
Yes ! You have to know who to contact for a 10% down mortgage on a condo. If you contact me I can connect you with the right person!
Joanne Bernardini
Sales Associate
Certified Short ... more
0 votes Share Flag Wed Aug 1, 2012 Home Buying in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
why is 411 east 8th st so cheap?
This is a third floor condo over a first floor commercial unit. It is a short sale and the price is low to entice a buyer. The bank has the power to counter your offer and has final app ... more
0 votes Share Flag Sun Jul 22, 2012 Home Buying in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
When you are scammed by a Realtor Broker on a vacation rental property and file a local grievance with the Board of Realtors in NJ what happens?
I add my voice to those who are apologizing for the terrible experience you had here in Ocean City! Ocean City is famous for it's clean streets, beaches and friendly people who care. Wh ... more
0 votes Share Flag Sun Jun 10, 2012 Rentals in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
My mom is leaving her home here for assisted living in FLA. Any thoughts on either renting and selling in this market?
Ocean City is a great place to have a rental property. If you are willing to hire a cleaning service, you don't even need to worry about the "change over" for weekly rentals. You should ... more
0 votes Share Flag Fri May 25, 2012 Home Selling in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
Is this market good for finding single family homes at reasonable prices?
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 ... more
0 votes Share Flag Fri May 25, 2012 Home Selling in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
I want to know the sold prices of homes similiar to mine so that I can have my taxes reappraised and
Hi Coleen!
What you are looking for is referred to as "comps" meaning homes that are comparable to yours and the prices for which they sold. I would be happy to get these to you! Just ... more
0 votes Share Flag Sun May 13, 2012 Home Selling in Ocean City
Carolann Rod…, Real Estate Pro in Ocean City, NJ
Carolann Rodden answered:
Seasonal Rental for 1?
Carol Rodden, Agent Ocean City NJ
I have an apartment for rent for the season. call me at 609-398-8000 or 215-208-5411. Two single beds, air, t.v. Lease up to September 17th... Car ... more
0 votes Share Flag Tue May 8, 2012 Rentals in Ocean City
Caroline Wat…, Real Estate Pro in Ocean City, NJ
Caroline Watts answered:
do new and reduced price listings get updated each day? If so, what time? thanks
You may find this website helpful. It is linked directly to the South Jersey Shore Regional MLS and so all information is immediate from the time the Realtor has entered it into the MLS ... more
0 votes Share Flag Thu Apr 26, 2012 Home Buying in Ocean City
Caroline Wat…, Real Estate Pro in Ocean City, NJ
Caroline Watts answered:
Why is it so hard to find a decent realtor in Ocean City? I have asked three separate ones to place me on a list for daily updates and can't
Erin,
I am a Real Estate Agent in Ocean City. I am sorry you have not found better property search assistance from a Realtor. You may freely search Ocean City NJ homes on this website ... more
0 votes Share Flag Thu Apr 26, 2012 Home Buying in Ocean City
Joanne Berna…, Real Estate Pro in Ocean City, NJ
Joanne Bernardini answered:
How do I find expertise in structuring lease purchase agreements in terms of option amounts, rent amount, purchase price and modeling cost scenarios?
When you are entering into a contract that has so much at stake, it would be well worth the money to have a real estate lawyer draw up the contract. That way you will be protected again ... more
0 votes Share Flag Fri Apr 6, 2012 Home Selling in Ocean City
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