News Letter / OCEAN CITY, MARYLAND 
 Real Estate News, Advice & More
January/2017
 
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Foreclosures List
For January 19, 2017



________________
FOR SALE:

Direct Oceanfront
2 46th Street, #103
"Salty Sands" Condominium



Royal Palms 
1 Bedroom | 1 Bath
Updated and Ready for 2017
Priced @ $139,900


 
We are quickly running out of listings.   If you, or someone you know, owns real property in Worcester County, Md, and have been considering selling your/their property, we would love to have a chat about the strategies we are using to get our listings SOLD!---Call us TODAY!




Market Trends for Worcester, County Maryland
By Mia McCarthy
The Mark Fritschle Group | Condominium Realty, LTD.


  As 2016 came to a close, the overall condo market in Ocean City, Maryland showed some signs of improvement.  Inventory at year's end was down 12.1%.  And for the 1st time in 10 years, inventory among condos fell well below 800 (752).  Prices among 2 bedrooms seem to have held steady in all areas of Ocean City, showing that the market has seemed to have leveled.  Additional good news for the condo market, contracts written for the year were up 10.3% and settlements for the year were up 16.5%. 

  The Ocean City Single family stats followed suit, ending the year with 20.1% less inventory, hitting a 10 year low of 100 units.  Contracts written for 2016 were up 16.9% and settlements up a whopping 26.8% for the year.

  As for the rest of Worcester County, single family inventory, like Ocean City, is down 21.2% .
Contracts written out performed 2015 by 10% and settlements were up for the year 12.1%.





    UPDATE on Interest Rates:
    Co urtesy of The Mortgage Reports.

  Current mortgage rates  are falling.
For only the second time since late-October, mortgage rates did not rise.   Freddie Mac, in its weekly survey of more than 100 lenders nationwide, reported the average thirty-year rate fell another 8 basis points (0.08%) to 4.12% this week.   Rates are down from a 33-month high set the last week of December.
This is a welcome change of protocol for today's mortgage rate shopper.   Since the hours following the  historic 2016 election , rates have been on a nearly unmatched run skyward.   From trough to peak, mortgage rates rose 91 basis points, or nearly one full percentage point between July and December.
But opportunity still exists for rate shoppers.   Mortgage rates tend to run up quickly then fall in response to an overreaction in the marketplace. The Mortgage Reports  predicted  falling rates in January due to this phenomenon, and it appears the forecast was correct.MORE...






 
   
We hope you found this update helpful.  
If we can assist you in your 2017 real estate goals,
 do not hesitate to call upon our services.  

About My Services:
  
Mia McCarthy           
SRS, ABR, SFR          

 

  Having the "know how" to market and sell real estate in a down market takes an agent who is not only knowledgeable in market trends, but one that has the ability of getting a property  in front of  qualified buyers.  We utilize every aspect of today's technologies to get a property SOLD.  When choosing a listing agent to market your property, you'll want to be sure that the agent knows how to get the attention of the next generation of buyers.   Over 90% of ALL buyers start their search on the internet. We not only use  popular search sites such as Realtor.com, Trulia, Zillow,  MarkF.com, OCMDhomesearch.com  and Craigslist.org but we also utilize social media sites such as  Facebook, Twitter, Pinterest and LinkedIn, to advertise our listings. You won't find a more extensive marketing plan. 


 

  Real estate has the potential of being your #1 wealth builder if you know when to buy and when to sell.  We are committed to making sure you get the most out of your real estate investment.  That's why we keep our clients and customers in "the know" about local real estate market trends.  It's important to know that many factors can effect property value.  These factors include; comparable market competition,  #of properties on the market vs. consumer demand, property condition, the foreclosure rate in your neighborhood and the ability to get conventional financing.  All of these things could have a great influence on the true market value of real property.  Whether you are buying or selling, it's important when hiring an agent, you find one who is knowledgeable in every aspect of the real estate market. We take great pride in our ability to assist our clients in making the right decision when it comes to their real estate investment.   Call us today, we'd love to chat about the current market and your financial goals.

 


 

 

Serving Buyers and Sellers on Maryland's Eastern Shore Since 2004.

 
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