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Ocean City : Real Estate Advice

  • All95
  • Local Info0
  • Home Buying31
  • Home Selling7
  • Market Conditions6

Activity 31
Sat Aug 22, 2009
Joy Snyder answered:
When you include the term "legal", as a Real Estate Broker I automatically indicate your question should be answered only by a Maryland Attorney. We are not in a rent-control locale, as you might find in an inter-city tenancy. Landlords determine base rental rates, the market dictates what is achievable and realistic, what a tenant can and will afford. As with any financial decision, shop around and lease only what is within your household budget. ... more
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Mon Jul 13, 2009
Kevin and Monica McNamara answered:

I've been in Ocean City real estate for 25 years, and I honestly do not know what you mean by the expression "extend and pretend". If you would care to elaborate...I will be happy to answer to the best of my ability. ... more
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Tue Mar 3, 2009
Michael Rayno answered:
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
... more
0 votes 5 answers Share Flag
Mon Jan 11, 2010
voices member answered:
Hi Lisa,

Yes, it is an excellent time to buy in O.C. right now. It is off season and the market is down. The only true way we know if we hit bottom is when the market starts to go up. Sales are down significantly in O.C., so either way you are bound to get a great deal. Good luck to you, please let me know if I can help further.
Lisa Devnew
... more
0 votes 12 answers Share Flag
Mon Jan 11, 2010
Kevin and Monica McNamara answered:
No worries. You will not pay 2005 prices. If a seller still expects that, shame on them. Real estate is a commodity (like stock or gold), you don't buy when a commodity is at its peak, you buy when its at a low. Ever hear the expression....You buy into fear... you sell into greed. It may not be the easiest time to buy from an emotional vein, but true investors know that now is the time to buy.

I invite you to visit my web site...or my blog site. I do have several short sales right now. My husband and I have been selling real estate our entire career in Ocean City, Maryland. My husband since 1975, and myself snce 1986. We have seen different markets. Let our experience work for you.

We look forward to hearing from you.

Monica McNamara
... more
0 votes 10 answers Share Flag
Sun Sep 21, 2008
real estate md va dc answered:
Chris Long at,, Phone: (888)881-7022 (410) 723-8720
0 votes 6 answers Share Flag
Sat Mar 19, 2011
Kevin and Monica McNamara answered:
Dear Ed,

There are no bank owned properties listed in our Multiple Listing Service for $50,000 or less. If you would like to run your own property searches, you can go to our web site at and go to the "Property Search" portion. There you can view all current listings in Ocean City, Maryland.

If you have any questions on a specific property, please email or call. There are bank owned properties as well as short sale properties currently available to be purchased in our market. However, none meet the price criteria that you indicated.

Monica McNamara
Coldwell Banker Residential Brokerage
Ocean City Maryland
877-480-7653 - Toll Free
Blog Address:
... more
0 votes 2 answers Share Flag
Wed Aug 27, 2008
Michael Klijanowicz answered:
Because HOA stands for "Home Owners Association" and a condo usually doesn't have a Home Owners Association fee. Instead a condo usually has a "Condo Association Fee."
0 votes 6 answers Share Flag
Wed Aug 27, 2008
. answered:
First let's talk about the difference between a management company and a rental company. A management company deals with the day to day operation of the building. Which includes cleaning walkways, parking lot, etc. dealing with contractors, preparing and administering the condo's budget and insurance brokers. The management company has been hired by the Board of Directors to act on behalf of the owner's. If you buy a condo that you want to rent, you will hire a company to coordinate the rentals for you. They will find the tenants, assist with cleaning between check ins, accept monies for the rental on your behalf. They will be the check in location for the renter to get their keys, instructions and for tenant to call if there are any problems with the property when they get there. If a rental company provides full service for the owner they will charge you a percentage of the actual rental income that they book for you. For example, Coldwell Banker charges 16% of the gross rental income if they find the tenant, and 8% if you find the tenant and send them directly to Coldwell Banker. ... more
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Mon Aug 18, 2008
. answered:
Keep in mind that closing costs can vary from state to state and individual areas within each state. I posted an article on my blog addressing closing costs in Ocean City Maryland. If you go to There is posting entitled "Closing Costs in Worcester County:. ... more
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Thu Apr 15, 2010
Lisa answered:
I'm afraid it has nothing to do with bubbles and rising inventories. It's getting harder to rent out any properties in OC because most folks don't make enough money, unless you get 2 or 3 families in 1 place, to make the exorbitant rents. I'm not trying to be a smart aleck, but that's the sad fact. It's also why the Inland Empire is exploding. ... more
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