In the market to buy Ocean City, Maryland beachfront property? There are a number of reasons why buying in the fall may be your best bet. Here are three of the main reasons.
First, many of the properties for sale in a beachfront resort area are occupied during the peak summer months. Often the occupants are renters paying a healthy amount of money to relax and recreate. They don't want to be bothered by real estate agents and their clients. In the off season most properties are unoccupied and are easy to show.
Second, the sellers have just wrapped up their rental season. They have collected all of the "in season" rent and are facing seven or eight months of mortgage, tax, and utility payments with little or no additional income. Many opt to put their property on the market just as the season is coming to a close. This results in a good selection of properties to choose from.
Third, for the same reasons listed in number two above, the sellers are pressured to get the property sold in the fall or face carrying the property through to the following season. The anticipated expence of doing so puts downward presuure on the purchase price.
The end result is the fall produces a good buyers market with ample inventory and motivated sellers. So whether you are looking at roomy 3 bedroom oceanfront condos or quaint 2 bedroom oceanfront condos for sale in Ocean City Md, the fall may be the perfect time to buy.