Ocean City, Maryland - Moving in a Tough Market

By
Real Estate Sales Representative with Long and Foster Real Estate, Inc. MD 522175 and DE RS-

Have we seen the worst of this market?  Well we all hope so.  Of course, historically, an election year is never a good year for the real estate market so we are buckling down for the long hall. 

For the Seller, the most important aspect in getting a property sold in this struggling market is PRICE!  Properties are selling, but only when a purchaser feels they are getting a "really good deal" and they won't have paid too much next year.  Although this is difficult for many investors that bought at the peak of the market in 2005 we are seeing sold listings that are close to 2004 prices.

For the Buyer, IT IS A GREAT TIME TO BUY!!!!! With Mortgages rates creeping down again (below 6% today) and Inventory at an all time high (over 2000 presently for sale) Buyers can pick and choose and usually get a great price.  Plus all the tax benefits of owning a home and NOT TO MENTION HAVING A PLACE AT THE BEACH TO CALL YOUR HOME!  It is a win-win situation for anyone seriously looking at real estate today.

 

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