Buy, Sell, or Hold?

Real Estate: Buy, Sell, or Hold? that's the question resort property owners are asking in the midst of the current real estate market. It's a little confusing to know just what route to go. It wasn't long ago that prices were appreciating at a rate of 30% a year...it was a "crazy" time and yet buyers were continuing to jump in the market and pay those ever increasing prices. Well, that has stopped...prices are no longer increasing here at the beach but are actually adjusting to what properties were selling for 2 years ago in 2005.

Real estate has always been an excellent long term investment. You can't lose with a "buy and hold" philosophy. And the smart money will tell you that now is the time to be buying. You want to buy when inventory is high, sellers are motivated and have their properties "priced right", and not buy when everyone else is buying and you have a lot of competition. That's the way it was 2 years ago at the peak of the market.

So if you have ever considered owning real estate at the beach be it on the oceanfront or bayside and want to know what the current best buys are just let me know at http://www.sellingoc.com/.

Current Real Estate Statistics

A lot is being said in the news media both in print and on the 6:00 news about the current real estate market. Here at the beach there is a story to tell also. Currently, we have 1,626 condominium/townhouse units on the market for sale. This covers all categories efficiencies up to 5 bedroom units and all areas from the oceanfront, oceanblock, bayside, bayside waterfront. Considering there over 26,000 condominiums in Ocean City the fact that over 1,600 are on the market it is not an overwhelming percentage that is up for sale. It does however provide a wide variety to choose from in any given category.

Take for example if you were looking for 2 bedroom oceanfront units there are currently 170 on the market with prices ranging from a low of $364,900 to $750,000 and yet they are both 2 bedrooms. Just goes to show you that not all 2 bedrooms are equal. They will vary greatly in size (sq. footage), views of the ocean, amenities in the building as well as condition of the unit itself....one needs expert help in finding your way through this maze to find the "BEST BUY".

That's what I do best. So if you need help locating the "BEST BUY" in this somewhat confusing market, just let me know at http://www.sellingoc.com/ and I will put my 25 years of resort real estate experience to work for you.

NOW IS THE TIME TO BUY...

It's Official

Winterfest of Lights has begun. With the lighting at sunset on November 15th and appearing nightly til January 1st. Northside Park (bayside 127th Street) has come alive with "the holiday spirit". You can take a train ride around the park to view all the lights for a nominal fee and come back to the big tent which houses Santa, hot chocolate, a gift shop and more...truly a fun experience for the whole family. While you are there be sure to pick up an entertainment schedule as most nights there is some type of special entertainment in celebration of this festive season.

Not to be forgotten is the display of lights at the inlet parking lot as well as the lighted Christmas trees on the center median strip on Coastal Highway and Baltimore Avenue. This event was started by the Chamber of Commerce many years ago as a way of getting people to come to the resort at this time of the year when things were typically pretty quiet. It has certainly done that and more. The upcoming Thanksgiving weekend is a very heavily visited time in the resort and the Winterfest of Lights play a large role in that happening. ENJOY!

Life is good at the beach

It's hard to believe that it's almost Thanksgiving and the outside temperature today is 67 degrees, calm, mild & sunny. Life doesn't get any better than this...to be able to live at the beach year round and have this kind of off-season weather to enjoy. Don't get us wrong we love it when the summer vacationers are here but there is nothing like having the beach all too yourself come fall.

Calendar of Events

DECEMBER

WINTERFEST OF LIGHTS
From today til January 1, 2008
Townwide, Northside Park (125th Street), Inlet - end of Boardwalk, Drive Through http://www.ococean.com/

OCEAN CITY CHRISTMAS PARADE
December 1, 2007
100th Street to 115th Street
honijarvis@cs.com

HOLIDAY OPEN HOUSE
December 2, 2007
OC Life-Saving Station Museum
http://www.ocmuseum.org/

EARLY EASTERN SHORE CHRISTMAS
December 8, 2007
Museums of Worcester County

VICTORIAN CHRISTMAS
December 8 - 29, 2007
Berlin
http://www.berlinmdcc.org/

NEW YEAR'S EVE FAMILY CELEBRATION December 31 -Convention Center, 40th St. Information: www.hittproductionsllc.com. 800-626-2326

NEW YEAR'S EVE FREE BUS SERVICE
December 31, 2007
Town of Ocean City offers free bus service from 6:00 a.m. New Year's Eve to 6:00 a.m. New Year's Day

JANUARY

NORTH AMERICAN CRAFT SHOW
January 19 - 20, 2008
OC Convention Center (40th Street)
http://www.donaldsduckshoppe.com/

NAUTICAL & WILDLIFE ART FESTIVAL
January 19 - 20, 2008
OC Convention Center (40th Street)
http://www.donaldsduckshoppe.com/

EAST COAST COMMERCIAL FISHERMEN'S & AQUACULTURE EXPO
January 25 - 27, 2008
OC Convention Center (40th Street)
www.marylandwatermen.com