Welcome to our new website! We are pleased to release the latest version of www.MarkF.com. We have some fantastic new features that will allow you to find out more information on properties available here at the beach. For example, we have a "Chat Now" feature that allows you to instantly communicate with a live agent! Feel free to click on that link today and ask us a question about any listing on the shore of Maryland or Delaware. We will work diligently to find you the answers you need.

By the way, our team was recognized by Re/Max ranking #4 in the nation and #8 in the world this year! The Mark Fritschle Group with Re/Max is made up of hardworking, experienced professionals, who want to work FOR you! Contact us today so that we can find you the PERFECT home! We have knowledge of the BEST deals at the BEACH!

As you know, yesterday the government announced the takeover of FNMA & FHLMC. This announcement came as the government felt both these institutions will no longer be able to meet their mission statement, which is to provide liquidity, stability, and affordability in the housing markets. Fannie & Freddie both have issued many bonds which over time mature, and Fannie & Freddie need to pay back the principal on the maturing bonds. The way they raise capital to pay these maturing bonds is to issue new bonds. This happens every month. As long as Fannie and Freddie can sell new bonds this system works well. But the problems in the mortgage industry have reduced investor appetite to purchase these bonds…and that’s were the trouble begins. Without the ability to sell new bonds, Fannie and Freddie are less able to meet the capital requirements to pay off the maturing bonds…and that’s the big fear. If Fannie & Freddie were to default and become insolvent, it would throw the mortgage and housing markets even deeper into the abyss.

Additionally, the recent lack of appetite for their bonds caused the two mortgage giants to have to do something to make their bonds more attractive…so, they offered their bonds at higher yields to gain more investor interest. However, since they couldn’t go back and raise rates on loans that had already been settled, it sucked even more profits out of each of them, thereby reducing capital even further, and exacerbating the problem even more.

That’s why the Treasury has stepped in, created a $200 billion line of credit, and said that they will back the payments on these bonds at all costs. This is GREAT news to homeowners. First, it ensures the continued liquidity of conforming loans nationwide. Second, it ensures that buyers of this type of bond have a safe investment going forward, thereby increasing investors’ appetites for these instruments once again. This will undoubtedly help the US housing market move through the current crunch that we are in. In fact, we saw a slight dip in rates last week, probably because those in the know on Wall Street felt this was coming. Now today we have already received an inter-day price change down. So, look for at least a little more this week hopefully.

We apologize for the lack of postings this year. Working in Real Estate in Ocean City, Maryland is now a twenty-four hour 7 day a week job. There are two markets in town that are hotter than ever. Properties between $100,000 and $400,000 are in high demand, as well as properties $1,000,000+. Ocean City will set a record this year for selling more properties over $1,000,000 than ever before in the history of our town. Quite an accomplishment for what some analysts are calling a slow market! If you are interested in buying a place at the beach for your family to enjoy, now is the time! There is nothing better than not having a check-out time here at the beach. For advice or additional information please contact us anytime at 1-800-400-MARK.

Listings are Down in December!

New listings of Ocean City, Maryland Condominiums are down from 174 in December 2006 to 75 in Decemeber 2007. Overall the Condominium inventory in Ocean City has drastically decreased from over 2000 listings in January 2007 to our current inventory of 1550! Visit the beach today to find a deal!

Happy New Year! Sales are up here at the beach and there is a buzz brewing about the market beginning to turn around. Potential buyers are entering open houses singing a different tune than they were this time last year. "Did we miss the bottom?" "Are there still deals?" I am here to tell you there are still deals on homes in Ocean City, Maryland, but there is a sense of urgency that is becoming obvious in the marketplace. In January 2007 we had close to 2,000 condos for sale in Ocean City. As of yesterday we have dipped into the 1500's! Come visit the beach today and find your perfect vacation getaway for summer 2008.

Worcester home sales increase for second consecutive month

By Stewart Dobson Editor/Publisher

As some would-be buyers of real estate continue to wait until the Worcester County second-home market “hits bottom,” there is an increasing possibility that the “bottom” has come and gone.

For the second straight month, figures posted by the Maryland Associa-tion of Realtors show a strong gain in sales against the same time last year.

The MAR reported this week a 76-percent increase in residential sales in the county for November, climbing from just 60 units in 2006 to 106 units last month.

Meanwhile, the total dollar volume of sales for the month came in at $55.5 million for a $33 million gain over November sales last year.

The surge in home sales came as interest rates continued at near record lows and the price of residential units dropped by an average of $63,000. The average selling price at settlement the past month was $371,800 as compared to $435,430 last year.

This renewed sales activity, however long it might last, has to be heartening to more than just the local real estate industry, as restaurants, retail shops and other businesses have felt the pinch of what has been one of the worst real estate sales droughts in more than two decades.
The decline began late in 2005 and deepened throughout 2006 and most of 2007. The first glimmer that the market might be leveling out was in October, when the MAR reported a 21 percent increase in units sold.

Although two months of improved sales hardly constitute a recovery, it is the first time since the summer of 2005 that it has occurred.

Major turnaround in sales arrives as prices moderate

By Stewart Dobson Editor

(Nov. 16, 2007) The Worcester County real estate industry had something to celebrate in October, as overall unit sales beat last year’s total by 21.4 percent, according to statistics compiled by the Maryland Association of Realtors. Total settlements on residential units for the month was 102 as compared to 84 units sold and settled in October 2006. Meanwhile, the average price of these units dropped significantly, from $434,000 last October to $396,000, giving buyers more incentive to buy while interest rates remain well below 7 percent.

Even with the drop in average price, which is good for buyers, the industry itself saw an increase in dollar volume, with total sales topping $40 million for the month, up almost $4 million from the year before.

More significant for the resort area market is that this jump in sales defied conditions elsewhere in the state, with most counties experiencing a drop in total units settled.

Nevertheless, this contrary statistic fits in with the report from the Maryland Association of Realtors analysis, which says a rebound in sales will likely be led by more expensive properties. “Ironically, the high end of the residential market may get a bit of a jump-start from proposed increases in Maryland income taxes, which if enacted would presumably make the mortgage interest deduction all the more valuable,” the association’s “Maryland Realtor” magazine reported.

The analysis by Sage Policy Group also took note of the easing of credit that will likely result from the Federal Reserve’s decision in September to cut its rate on money loaned to commercial banks. The other factor in this October resurgence is price.

“Finally, sellers are undoubtedly getting the message that they must price their properties competitively,” the analysis concluded. “Those sellers who price their properties reasonably will find buyers,” and that, the MAR’s advisors feel, “will eventually stimulate sales as buyers begin to perceive greater value.”