Home Buying in Ocean City>Question Details

Russ, Home Buyer in Rockville, MD

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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Answers

5
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 Thank Flag Link Tue Mar 3, 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 Thank Flag Link 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 Thank Flag Link Mon Mar 2, 2009
Looking in OC, MD.

Thanks,
0 votes Thank Flag Link 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 Thank Flag Link Mon Mar 2, 2009
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