Realistic goal for purchase?

Asked by Russ, Rockville, MD Mon Mar 2, 2009

I have been monitoring the Ocean City market for a few weeks now as it seems the prices are coming down near where I would like to be for my vacation home. I am looking to buy a small townhouse/condo (appr 800sq ft) on the bay for under $175K, ideally in the middle of town. I do not have any must haves and am flexible about being on the bay...but would like something that does not need a ton of work and has a reasonable Condo/HOA fee. Any suggestions on specific developments I should be looking at? Is this a realistic price target?

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5
Michele Pompa, Agent, Ocean City, MD
Tue Mar 3, 2009
If you do not want direct bayfront you price point is realistic. There are condos available in that range. If you would like you can e-mail me at http://www.mpompa.com and I will send you some listings that will meet your needs.

Thank You,
Michele Pompa
http://www.michelepompa.com
mpompa@cbmove.com
0 votes
Kevin and Mo…, Agent, Ocean City, MD
Mon Mar 2, 2009
Russ,
I think since you live in Rockville, Maryland, you are probably inquiring about Ocean City, Md.

We can find you something for $175K or less, it's the direct bay front that maybe tough. One of the more moderately priced bayfront communities is Bayspot Condominiums located on 52nd Street (which is a mid town location). However, they start in the low $200's. It's close.

Very important in today's market is understanding condominium financing if you are planning on gettting a loan. I attached a web reference to an article I wrote relating to obtaining condo mortgages. Check it out.

Also, go to http://www.Ocean-CitySales.com and you can see all properties currently for sale in Ocean City.

I remain available to help.

My best from the Beach.
0 votes
Linda Quasney, Agent, Selbyville, DE
Mon Mar 2, 2009
Linda Quasney, Sales Associate, ResortQuest Real Estate

Hello Russ,

If you were referring to Ocean City, MD, there are just a few properties on the water under $200,000. Most were smaller than the 800 SF you mentioned. However, I did find a few which indicated sellers may consider offers that were priced higher. I would be happy to share some of these possibilities with you. Feel free to contact me for available properties.

Kind regards,

Linda Quasney, REALTOR, GRI
ResortQuest Real Estate
410-977-2519
Email: lquasney@resortquest.com
0 votes
Russ, Home Buyer, Rockville, MD
Mon Mar 2, 2009
Looking in OC, MD.

Thanks,
0 votes
Michael Rayno, Agent, Cape May, NJ
Mon Mar 2, 2009
Are you looking to purchase in Ocean city MD or Ocean City NJ?
If OCean city NJ I would be glad to help you, if Ocean City MD I'll be able to recommend a good agent.
Mike Rayno
800-815-1790
mjr@ocnj.com
0 votes
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