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Market Conditions in 08226 : Real Estate Advice

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  • Local Info5
  • Home Buying9
  • Home Selling7
  • Market Conditions0

Activity 6
Sat Dec 1, 2012
Ellen McGonigle answered:
5107 West was the second floor of a 2 unit Duplex. There are typically no monthly condo association fee's on something like this here in Ocean City. The two unit owners share the flood and hazard insurance on the building and work out the payment, but not in the form of a "monthly association" condo fee. I would be happy to go over all of the expenses and give you a realistic idea of what a unit like this one will cost to own for the year. Feel free to contact me anytime on my cell phone. (609)602-7507. Thanks for you'r interest in Ocean City! Ellen McGonigle ... more
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Wed Jun 16, 2010
Ohcomeon answered:
The two homes beachfront sold. The two remaining are a duplex. They were asking around $2.5 million each. Now the auction minimum is $750k. No outside porches or decks is the BIG drawback. ... more
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Mon Jul 7, 2008
Jesus (jesse) Gonzalez answered:
Mon Mar 10, 2008
Ocean City Beachcombers Group answered:
I'd be glad to help - All I need is your block/lot/address - I'll pull the sales comparables and can email you the information ... Jim@JimOCNJ.com
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Sat Dec 1, 2012
Brian Reese answered:
Hi Malissa because of the increased maintenance involved with buildings directly on the bay they tend to run a couple hundred dollars more per month as opposed to say a condo comple lcated in the middle of the island. I am not sure which buiding you are reffering to but taking into consideration 500 bay, bay club, noreaster, sunset harbor and harbor house the condo fees range anywhere from $319-$540 a month. After averaging those fees I come out with $420 per month which covers your insurance (not contents of unit) maintenence sewer water trash and any amenities that go along with the property. This all depends on the size of the condo. If you decide to go with a 2 unit condo building versus mid rise complex you only with have to split the cost of the flood and hazard insurance which would run you far less. The buildings typically take more abuse since they are on the front lines of any weather from the bay. One rather large expense is the bulkhead if it is not already been upgraded. I'd be happy to discuss your situation in private. You can follow my link below to contact me.


http://www.oceancityproperties.info
... more
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