The only time we will know for sure that the market has hit bottom is when it is already started to climb up. However, I do believe we have come pretty close to the end of the downward spiral, but there are still many peaks and valleys in our future, BUT things are far more stable than they have been...
Linda B. Conner-Realtor
Prudential Fox & Roach
Northfield Home Marketing Center, NJ
Serving Atlantic and Cape May Counties
cell: 609-369-2739 fax: 609-677-4477
Who's the next person you know planning to buy or sell?
Call me & I'll take great care of them!... more
Paul You maybe able to go to Realtor.com or Zillow.com to get values it should be able to give you some comps based on your address which should give you some indications as to where you are as to value for a tax apeal.
The other would be to have a real estate agent come out and give you a CMA on Sold Homes like yours in the area, or hire and appriaser to give a certified opinion that should cost around $350.00 if you need the number of an area appraiser in Ocean City let me know
Without knowing the particulars of the property, I couldn't comment on its value. If you feel that the property is overpriced, you should ask your agent to provide comparable sales that justify the value of the house. Most good Buyer's agents try to get their client the home that they want at the best price for them. Don't believe the hype about agents trying to drive the price up so we can collect a higher commission. A satisfied client is far more valuable than a few thousand more in commission. If your agent is able to justify a higher price based on comps and the seller is not willing to budge, you could ask the seller to hold a second mortgage. Determine what you can comfortably put down, what you are qualified for a mortgage and ask the seller to hold the balance. Be careful not to over-extend yourself financially. The fact of the matter is, you may not be ready for that Million Dollar Home just yet. Maybe you should look into something for a little less and upgrade when finances change and you gain equity in your vacation home.... more
Commissions are negotiable. When a Realtor comes to your home, be sure to review all the marketing and services the agent has to offer.
If you would like some assistance, I would be happy to help you.
I can email you some information to review.
Feel free to contact me anytime!
If you can afford to list the property to be competitive with the local short sale and foreclosure markets, selling may be the best route.....there are so many liabilities associated with being a landlord that the loss of money on the sale may just be worth it.
Good luck... more
Resales of the Nantucket Condos are handled by real estate offices, and are typically 2 or 3 bedroom flats or townhouses. Some of the units have waterway views (and entertaining airport runway views). Prices for a two bedroom condo are running less than $300,000 although none are on the market right now.
The Nantucket Condos would be worth a look when you're ready to buy, they offer a pool and are located just a short drive to the beach and shopping along 34th Street.
James I. (Jim) Marshall, CRS, GI, e-Pro
Prudential Fox & Roach REALTORS.
1 - 888 - 602 - 3243
I don't think we have reached the bottom yet. The decline went from 1 to 2% a month last year down to about 1/2% a month this year. Will this be a cash purchase?...what will your money be worth next year?...Are you planning to borrow?...will you be able to borrow next year?...what will the interest rates be at that time?. When the market does bottom out and starts coming back the appreciation will probably stagnate for some time before creeping up at 2-3% a year. So it will take years to hit the the 2005/06 numbers. The future is scetchy, we all wish we had the elusive crystal ball...Keep in mind too, in a buyers market you rule...choices abound..rates are low and sadly some peope just must sell, when the market takes a turn, you could miss out on that choice property. Good luck!... more
The answer to your question is yes there is a section in the northern part of Ocean City called "The Gardens"
This area is primarily single family homes and very few rental properties.
If you would like information on homes currently for sale in this section please send me an email to "MIKE.RAYNO@PRUFOXROACH.COM" and I will be happy to get this information to you.
Good luck with your search
Prudential Fox & Roach Realtors
Zack Lilienfeld Integrity engineering
I. G. "Zack" Lilienfeld, PE, CEM
Integrity Engineering, LLC
PO Box 3350
9400 Atlantic Ave., Suite C-100, Margate, NJ 08402
Phone (609) 487-7757
FAX (888) 666-5010
A really good guy. He's real knowledgeable and efficient. Call him and talk with him. If he cannot do what you need he will certainly know someone. He's from Margate NJ
Please tell him I sent you.
The answer is yes.
For an idea what they are getting go here
You can enter criteria here and get an idea what the rentals are asking.
Hope this helps... more