Ocean City Real Estate Blog

Searching Ocean City, MD Real Estate

Walking on the Boardwalk in Ocean City, MD in the summer

Searching for Real Estate in Ocean City, Maryland

Do you know what you want, but hate navigating through hundreds of properties? I’ll give you the inside information on how to effectively search Ocean City, MD Real Estate. The use of proper terminology and basic tools will allow you to be able to properly communicate and locate your Beach retreat with ease.

Let’s discuss search terminology. Ocean City is broken into 5 MLS search areas: Oceanfront, ...

Buying Ocean City Real Estate

Two beach chairs and umbrella on sandy beach

Buying Ocean City Real Estate

Buying real estate is a series of sequential steps that when properly executed will lead to you getting a good deal on a property through a skillful and fun process. Before Buying, I'd like to cover a few items that are frequently asked (see list below). Should you have any additional questions feel free to contact me anytime and I will be glad to address them. Start your Beach Search Here.

Buying Time-frames- From a signed contract to settlement is typically 45 days. This can be shorter or longer depending on type of financing. Cash deals can be completed under 30 days, while a VA or FHA loan can take 60 or more days.

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Making an Offer on a Property

Making an Offer

Before writing an offer, contact a Lender and ask to be Pre-Qualified or better yet Pre-Approved.

Pre-Qualified- A pre-qualification can be done over the phone or on the internet. Loan pre-qualification does not include an analysis of your credit report or an in-depth look at your ability to purchase a home.

Pre-Approved -pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller, as he or she will know you're one step closer to obtaining an actual mortgage.

It shows the seller you are serious and that you are financially able to purchase the home....

Is Getting a Home Mortgage Still Too Difficult?

Is Getting a Home Mortgage Still Too Difficult?

Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.

Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want...

Will Increasing Mortgage Rates Impact Home Prices?

Will Increasing Mortgage Rates Impact Home Prices?

There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.

This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.

A recent study by the John Burns Real Estate...

Common Things to Look Out for Before Buying Your Dream Home

Common Things to Look Out for Before Buying Your Dream Home

It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.

It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.

1. Why am I Buying a Home?

Regardless of the finances, it is important to think about what made you...

Why You Should Consider Selling in the Winter

Selling In Winter Attracts Serious Buyers

The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.

Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter...