Spring 2009

By
Real Estate Agent with Coldwell Banker

Starting off . . .

 

What a winter this has been.  Not too much snow, but I've not seen the temperatures this low since I moved down here from New York to my home in Ocean Pines back in 1991.  Granted that the Pines is a terrific place to live, and I do love my home, but this winter I kept thinking that I should have gone to Florida instead of stopping in Maryland.  There were times that I sincerely believed I'd never be warm again!

 

So much for my grousing... Spring is finally back and lovely warm days are once more the rule rather than the exception!  Folks are strolling the beach and boardwalk again, and before you know it, there will be sailboats on the bay and swimmers in the ocean.  How I love driving in to work over the Route 90 bridge and seeing the sun reflected off the oceanfront buildings and shimmering on the water.  The sight lifts my heart, lightens my mood, and makes the world seem wonderful.

 

The heck with Florida, I love Ocean City!

 

Following Through...

 

The days are getting longer again and the whole town is going through it's usual spring cleaning ritual, gearing up for another  busy season.  Restaurants are re-opening, and there are lots of terrific two-for-one deals going on.  Great for those of you who can't wait for summer to come on "down the shore".

 

If you're planning a trip down soon, try to avoid the Route 50 Bridge.  They're back to the second phase of the renovations and it's going to be down to one lane in each direction through most of the spring.  A little harrowing and more than a little time-consuming, especially on the weekends.  If you're heading for the Inlet, it's probably going to be safer and faster to take Route 90 and then head south. 

 

I promised to keep you informed about slots at Delmarva Downs, but right now there's not a lot to tell.  Latest  word  is that 800 slot machines have been requested, but final approvals are not in and, from what I can see, not a whole lot of renovation is going on.

 

Of course, the big news is property values and we are most definitely in a Buyer's Market.  There are still those who don't have to sell and are holding tight to their prices, but many really spectacular deals are being made.  On the oceanfront, two-bedroom units in the Plaza sold for as much as $640,000 in 2005 and 2006.  Today, there are seven listed at between $449,000 and $550,000.  On the bayside at The Island at Hidden Harbour during the same time period,  15 units sold between $405,000 and $454,000.  Today, seven are listed for sale between $380,000 and $424,000.  Two sales in late 2008 were at $340,000 and $375,000.   New construction is totally unbelieveable!  The Sapphire Sea on the oceanblock at 35th St., built in 2007, was selling for $575,00.  The last four units are now offered at $425,000 each.  And you won't find this on the internet, but the fabulous Gateway Grand which was selling for a cool million per, will now accept your offer for half that-and maybe a little less.  Hard to believe, but it's all true.   So what will it take to get you down here?

  

Last But Not Least . . .

 

I don't guess there's anyone left who's not at the very least aware of the situation in this nation right now.  Everyone is touched by it in some way.  That's why I though it would be appropriate to make sure you got some information that was all in one place, not too wordy, and phrased as simply as possible.  It's emotionally and psychologically hard enough to read some of this stuff at all, let alone all the mumbo-jumbo that surrounds it. 

 

So I've included two pages of add-ons to this newsletter in the hope that some of the latest mortgage and tax changes will be a little clearer.  I hope you don't need the info, but if you do, I sure do hope it helps.  My dream for you is to that you have a wonderful life, including a terrific beach place of your own, and my dream for me is to help make your vacation place happen.  Any questions or comments, just let me know.  In the meantime,

 

         ...See You On The Beach!

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