At The Beach – Ocean City Maryland

The April 2007 Condominium Sales Statistics provided by the Coastal Multiple Listing Service serving Ocean City MD reflect a continued downward trend when compared to April 2006 and 2005. While actual settlements on properties remained constant, new contracts executed during the month declined from 221 in April 2005 to 86 in April 2006 to 74 in April of 2007. Average Selling price against list price reflects approximately a 7 percent lower selling price than the asking prices. CLICK HERE TO VIEW THE COMPLETE Ocean City MD Condo Sales REPORT. Possibly this current level of sales activity is where the constant will remain for a few years?  Will the resort market ever see the real estate speculation that occured in the few years prior to 2006?

The Delmarva Coast continues to be a prime destination for primary home buyers, typically across the bay. As a great place for retirement or re-location with families the area offers much in amenities, lifestyle, etc.. compared to the hustle and conditions in crowded suburbia’s of DC, Philly, NYC, etc.. Some quality communities being developed along the Coastal Maryland and Delaware Coastline can be examined here.

The purchase of a condo vacation property in Ocean City MD is a great LONG TERM investment for those who will use and enjoy it and possibly subsidize some of the expense by renting some weeks during the summer. It does not, in my opinion, offer any realistic potential for other than very long term increase in value. I encourage buyers to view such purchases as a way to realize your “dream” of owning a place at the beach, but to understand that there is not likely to be any significant appreciation in value of your “place at the beach” investment. One should also enlist the services of an experienced and professional real estate agent when considering the purchase or sale of a property around Ocean City, Berlin, Ocean Pines MD and The Delaware Coastline.

It’s that time of the year again!  Student workers arriving to Ocean City MD and housing availability virtually non-existent!  This year I fear it will be even more critical than in previous years! The major influx of students have yet to arrive, typically beginning June 1st of the year. Apparently the renovation of old properties that previously housed students, which are now new condo’s or torn down buildings with new construction underway has put another dent in the available housing for International Student Workers! For many, the only solution will be to try to find a job in another resort along the Atlantic where housing may be available? For others, it may mean finding other student friends who have rented an apartment and overload it with more students, rather than sleep outdoors or pay hotel / motel rates instead of the normal  summer seasonal rentals. I will post another update on this topic soon to amplify and confirm the status of available summer housing for student workers in Ocean City MD for the 2007 summer season. We do plan on furthering the content on our International Student Guide portal during the summer of 2007 to inhance it’s value to the arriving student workers into Ocean City MD and Coastal Bethany Beach – Fenwick Island and Rehoboth Beach Delaware.