We are looking at a condo ocean front at Gateway Grand Ocean City? Have the prices it the bottom? Thank you

Asked by Charles, Ocean City, MD Sun Oct 21, 2012

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Dave Leiderman’s answer
Dave Leiderm…, Agent, Bethany Beach, DE
Sun Oct 21, 2012
Hi Charles.

I see there are already 5 answers to your question but I'll offer my 2 cents as well.

Someone once said you never know when you've hit the bottom until you're on the way back up. There's no real way any of us can know. Plus, "bottom" can be relative. What I can tell you is that generally speaking the Ocean City market has experienced price levels reminiscent of 2002/2003, pre-boom. Understand that this is a generalization and there will and are exceptions. There are buildings or developments in town where the prices have risen as mentioned by Carmen.

If you're specifically inquiring about Gateway, the questions you should be asking yourself is "Can you afford it? Can you qualify for a loan in that amount? Is it what you want? And to elaborate on Monica's response, have you seen other oceanfront units or buildings in town? The Gateway may appear to be a "bargain" compared to their inital pricing of a few years ago but there's the argument that those prices may have been inflated.

As I'm sure my colleagues would agree working with a Buyer's Agent is the best way to ensure that you have the representation and information you need to make such a decision. Hopefully you are.

Best of luck.

1 vote
Sharon Daugh…, Agent, Margate City, NJ
Mon Oct 22, 2012
Charles - Just listed a beautiful unit at the Meridian - Ocean front - with over $60K in upgrades and high end furniture. Please email me at sydinc@msn.com and I will send you the listing with photo's. As well, I have three other oceanfront listings at the South Beach Boardwalk, Oceans Mist and L'Image. These are newer buildings and are all 3 bdrm 3 bath with very nice fit and finish.

I agree with the agents who have already responded in regards with pricing.
0 votes
Jeffrey Mess…, Agent, Ocean City, MD
Sun Oct 21, 2012
Charles, the prices in the area have seem to hit bottom and are on a bit of a rise. Intrest rates are low but they too are on the rise. If you are looking to buy now would be the time. Don't let an oppertunity to own the condo of your dreams slip away because you decided to wait too long. Feel free to call me with any other questions you may have.

Provided as a courtesy of

Jeffrey Messick
Prudential PenFed Realty
9923 Stephen Decatur Highway Unit D3
Ocean City, MD 21842
Office - (410) 520-2600
Mobile - (410) 251-2196
Direct Line - (410) 520-2610
Toll-Free - (888) 597-2537
0 votes
Kevin and Mo…, Agent, Ocean City, MD
Sun Oct 21, 2012
Have you looked at other ocean front properties? Always make sure to make an educated decision having weighed all of the facts.

Are you looking for someone to validate a decision you have already made or are you just beginning the process?
0 votes
Carmen Amedo…, Agent, Ocean City, MD
Sun Oct 21, 2012
Hi Charles

Prices are on the rise in the area - but the interest rates are still so low - So now is the time to buy and take advantage of the low rates. We never know what an election will do to the rates or prices.

You can contact me at cmamedori@gmail.com and I can assist you with any other information you might need

Or you can call me directly 443 340 8973

Thanks and Good Luck with everything.

0 votes
Matt Flora, , Ocean City, MD
Sun Oct 21, 2012
Hey Charles. Prices have definitely hit bottom as of earlier this year. I've noticed that they're now starting to rise but you can still get a unit for a great price (lowest priced is $599.9k!)
Shoot me an email or a phone call and I'd be happy to send you this listing and more info on it before its too late!
0 votes
Jack Walter, Agent, Ocean City, MD
Sun Oct 21, 2012
Prices are starting to turn aroud.
0 votes
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