Ocean City Real Estate

2009-05-17T18:16:00.000-07:00

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!

2008-09-10T09:17:00.001-07:00

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.

2008-08-12T08:17:00.000-07:00

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.

2008-01-22T07:04:00.000-08:00

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!

2008-01-03T06:52:00.000-08:00

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.

2007-12-15T09:26:00.000-08:00

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.

2007-11-29T07:08:00.000-08:00

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.”

2007-10-08T08:08:00.000-07:00

Come to the Beach! It is absolutely beautiful outside! 80 degrees in October?! Do not forget your bathing suit because the water is still warm. We still have a wide selection of real estate on the market here in Ocean City. If one looked at our current inventory and compared it to last year at this time they might think Real Estate agents have not been working much because our inventory has changed only .5% from August 2006 to August 2007. Fortunately, we have sold 721 Condos in the last year here in Ocean City!!! Be the next to own a beautiful second home here at the beach. Call us today to buy or sell! 1-800-400-MARK

2007-09-26T12:13:00.000-07:00

Pent-up demand. The country has added nearly 4 million jobs since home sales started cooling in mid-2005, and the typical worker's wages have risen 7-percent, leading to a $1.35 trillion rise in aggregate national income. At the same time, wealth has grown significantly, with the Dow Jones Industrial Average hovering at record highs. Indeed, accumulated household wealth as of the first quarter was at a record $56.2 trillion. So, if you're wondering if people have the means to purchase, they do.

2007-09-21T06:53:00.000-07:00

Rising Rents. With renters Hesitating to buy, landloads are raising rents. Average rents rose 8 percent in the past two years. As renters start feeling squeezed, ownership will look increaseingly good!

If you are an Ocean City Local looking to buy now is the time!

2007-09-19T07:40:00.000-07:00

Dollar weakness. The falling dollar has dangled a big "For Sale" sign in front of property attractive to foreign buyers. Europeans can now buy a vacation home at essentially a 15% discount. That's good for sales. And despite the weak dollar, which ussually leads to higher interest rates, mortgage rates remain attractive. In fact they became even more attractive after the Fed dropped their prime rate 50 basis points yesterday, September 18, 2o07.

2007-09-18T08:22:00.001-07:00

2008 RATE CUT. Inflation looks to slide as the year proceeds. If it does, the Federal Reserve could lower interest rates possibly as soon as early 2008. So keep you eyes on the horizon. There are forces at play that will turn the market around, and buyers who make the commitment now could be smiling next year!

2007-09-17T07:19:00.000-07:00

http://www.coastalassociationofrealtors.com/statistics/2007/caroccc0807.pdf

Just released today! The newest Ocean City Condominium Statistics. Good news, 42% fewer listings came on the market this August compared with August of 2006. Also, settlements in August 2007 increased from August of 2006! The market is starting to turn, now is truly the TIME TO BUY!

2007-08-06T06:30:00.000-07:00

Good morning! The White Marlin Open is off to a great start here in Ocean City, Maryland. Seas are somewhat calm and are not supposed to be much larger than 2-3 feet all week. Come visit our sales booth at the White Marlin Open and pick up a free Gateway Grand Frisbee! Also, every Thursday night we have a party at the Gateway Grand Sales Center on 49th street. If your interested in the project and would like to be provided with additional information it is a great time to do so. We have complementary food and beverage, along with live music from 4pm - 6pm every Thursday evening.

2007-07-19T09:13:00.000-07:00

SALES FAR AHEAD OF LAST YEAR IN OCEAN CITY, MD. For example, at this time last year there were only 14 condominiums sold above $1,000,000. In 2007, there have been 22 condominiums sold above $1,000,000. That is a 34% increase in high-end products moving in Ocean City. This simple example shows how strong the Ocean City real estate market really is right now!

2007-07-03T06:47:00.000-07:00

91 properties sold on the Island of Ocean City in June 2007! Sales are up! Are you still thinking about buying in Ocean City, MD? What are you waiting for? Our inventory is diminishing, come find the house or condo you want while we still have several to choose from!

2007-06-26T12:48:00.000-07:00

Summer is in full swing here in Ocean City, Maryland. Check out how our real estate market is fairing by clicking this link: http://coastalassociationofrealtors.com/statistics/2007/caroccc0507.pdf

2007-06-18T07:16:00.000-07:00

Hot and Sunny! Ocean City, Maryland is the place to be this week with high temperatures and sunshine galore. Check out our featured properties at www.markf.com. It is still a great time to buy real estate here at the beach. We have a large selection of properties, which allows buyers to find exactly what they want at fair prices. Come visit us today!

2007-06-05T07:10:00.000-07:00

Summer has finally arrived here in Ocean City, Maryland. The air tempertures are high, the water is warming up, and real estate is changing hands. Inventory has dropped dramatically with the sharp increase in demand for property on the island. There were 60 2 bedroom 2 bathroom ocean block units for sale 2 months ago priced under $350,000. Now there are only 10! Visit Ocean City, Maryland today and look at real estate because now is the time to buy!

2007-05-31T07:05:00.000-07:00

88 units sold in Ocean City, Maryland this month with an additional 68 going pending on the Island! We are busy here in town and the weather is beautiful. Come visit Ocean City today and take a look at what we have to offer. Buy now, rent the unit out to summer vacationers, and retire there in 5 to 10 years.

2007-05-24T07:03:00.000-07:00

The countdown to memorial day weekend is almost over. If you are going to be at the beach this weekend now is the time to consider buying property. The market is flattening out as inventory is slowly shrinking. Visit an open house this weekend and see what our town has to offer.

2007-05-17T06:28:00.000-07:00

Good morning! Inventory here in Ocean City, Maryland is dropping. We seem to be entering a flat period in the market. These next two months might be the best time to buy. You will already be coming to the beach for vacation, so why not take a look at a great investment while you are in town. Whether you want to see the sun rise over the ocean of the sun set over the bay all from your bedroom window we make the arrangements for you. There are some really great deals right now, so take a look around our site and come visit us in Ocean City, MD soon!

2007-05-07T07:44:00.000-07:00

Springfest was a success! It was a beautiful weekend with tens of thousands of tourists visiting Ocean City, Maryland in just 4 days! There are have been 11 sales in 6 days here in on the Island. More impressively 18 additional units have gone under-contract in 6 days!

2007-05-03T09:35:00.000-07:00

Come one! Come all to Ocean City, Maryland for Springfest 2007 this weekend! "Enjoy four fun-filled days of fabulous entertainment, a wonderful assortment of food favorites, an exciting array of arts & crafts, and lots of family fun! Bring your appetite so you can enjoy delicious food including crab cakes, oyster fritters, barbecue, hamburgers, hot dogs and much, much more. Thirty food vendors will serve a variety of delicious food during Springfest 2007. Springfest also serves up a variety of live entertainment on two stages for four enjoyable days. All entertainment is free with the exception of this year's headline acts."

While you are here visit a few open houses and see the properties we have available for sale. Maybe next year you can come for Springfest and stay in your own beach dream home. The market is HOT with 77 sales in April and more to come as the temperature rises here in Ocean City, Maryland! See you this weekend!

2007-04-30T12:43:00.000-07:00

79 properties on the Island have gone pending this month!! With this beautiful weather has come new owners! Come to the beach and grab the deals while they last. Inventory is dropping and the market is beginning to turn around a bit. Call any with questions you have about property in Ocean City, Md! 1-800-400-MARK

2007-04-17T06:34:00.000-07:00

What is going on with this weather?! Hopefully the winds will cease and the sun will come out soon! Even with two bad weather weekends we still had 29 transactions occur on the island of Ocean City, Maryland so far in April. Real Estate agents are busy and offers are coming in everyday on homes for sale. We will keep you posted as the month continues. Have a great day!

2007-04-12T06:25:00.000-07:00

Good morning! I hope everyone is ready for spring because it is here and the temperatures are rising at the beach. Sales rose by 50% in March; rising from 50 sales in February to 75 in March. One can only imagine what will happen here in the next couple of months. Come visit us at the beach and look at real estate. Who knows maybe you could be the next to own here At The Beach.

Our website will help you get started with your search. Check out our virtual tours button. Every property we have listed has a virtual tour right here online.

2007-03-29T10:15:00.000-07:00

Welcome home buyers! It has been quite a month here in Ocean City, Maryland. We are now up to 64 transactions on the Island of Ocean City in March 2007! We are gearing up for a very strong spring. So, come to the BEACH, visit OPEN HOUSES, find a great agent for GUIDANCE, and become a LOCAL. In the mean time read this very important article:

http://www.realtor.org/press_room/news_releases/2007/ehs_feb07_existing_home_sales_rise_again.html

2007-03-23T08:22:00.000-07:00

3 houses sold in 3 days! The Ocean City, MD real estate market cannot be held down; even with the negative media pertaining to real estate in the United States. Despite what you are hearing elsewhere there are 1746 condominium units for sale in Ocean City, MD as of March 23, 2007 . Keep in mind that almost 300 of these units are not even built yet!! That takes the total condominiums, currently available for sale and settlement, down to just 1446. Its a great time to buy, but with the activity that is already going on, prior to the summer season, it won't last long. Come to the beach, take a look at the opportunities available, and invest in the lifestyle!

2007-03-20T06:19:00.000-07:00

Happy St. Patrick's Day! I hope everyone had a fun and safe Saturday here in Ocean City. We had a very successful St. Patrick's Day parade and it turned out to be a beautiful weekend. Sales are on the rise! There have been 47 settlements on the island and it is only March 20th! In February 2007, we saw 50 settlements the entire month. With the warm weather on its way our settlements on the island will begin to increase significantly. If you see a property you like I suggest you make an offer because now is the time to deal before supply drops and demand increases.

2007-03-12T06:24:00.000-07:00

Goodmorning! I hope everyone enjoyed the warm weather this weekend in Ocean City, MD! If not, it is only getting warmer so come to Ocean City to get away for a weekend.

We have had 28 settlements in 11 days this March. This figure is only including units or houses sold in Ocean City, not Ocean Pines, West Ocean City, or Bishopville. The average list price of units sold this month is aproximately $350,000. This blog will be updated as March continues and the amount of units and houses sold increases. Have a great day and come back soon!

2007-03-07T13:08:00.000-08:00

Here in Ocean City, Md it feels like January with cold temperatures and snow falling. You would think with the cold temperatures sales would suffer, but just the opposite is occurring. We had 50 transactions occur on the island in February! Quite a jump from the warm January we had, during which 38 transactions occurred. Get excited because the market is slowly but surely coming back! Come visit us today in Ocean City, Md and you too can own a "Place at the Beach!"

2007-03-03T07:25:00.000-08:00

Goodmorning! Spring has arrived in Ocean City a few weeks early with temperatures rising to 65 degrees! The boardwalk is alive once again with visitors. Take a minute today to read the article I have linked with this blog. Have a great day and take a look around our site as you begin your search for Ocean City Real Estate.

http://www.breitbart.com/news/2007/02/27/D8NI4NIG0.html

2007-02-21T06:48:00.000-08:00

Welcome to our website! Real estate in Ocean City, Md is starting to rebound! We have been posting sales figures and statistics recently. Now its time for you to tell us what you think. Feel free to respond to our posts with questions or comments. We will answer your questions as quickly as possible.

As for the month of February we are off to a great start. We have had 34 transactions this month in Ocean City alone! Not bad for the middle of winter and comparable to years past. Look for a sharp increase in transactions as the spring approaches and buyers begin to take advantage of prices and selection. Countless times I have heard buyers say I wish we had bought back in 1995 before the big boom in the real estate market. Well, now is your chance to buy before the next big boom and you can be the owner saying I made a great decision and invested back in 2007. Have a great day and visit us more often!

2007-02-06T07:35:00.000-08:00

"The Ocean City condo market has remained steady since the second quarter of 2006. There are 1,546 units on the market in Ocean City- up by 34% over 2005's totals. Year-to-date the number of contracts written is down by 45% with a 3% absorption rate. Condos are staying on the market a median of 147 days and selling at 94% of their list price. Half of all condos for sale are priced from $200,000 to $399,999.

The Ocean City single-family home market continues to recover. In July, there were 55.4% more single-family homes on the market in Ocean City comparing 2005 to 2006. That was cut to only 22.5% by the end of December. The number of contracts written is down only 7% from 2005. Homes are staying on the merket an average of 88 days- down from a rate of 225 days at the end of the summer. On average, homes are selling at 91% of their list price." - Currents, Winter 2007 Volume II/Issue I

2007-01-30T06:15:00.000-08:00

Good morning to everyone! For those of you who made it Ocean City this weekend I am glad you braved the cold weather to enjoy our flourishing city. The time is NOW to begin looking for property. In town we have Mobile Homes starting at $115,000, Condominiums starting at $140,000, and Single Family Homes starting at $195,000. Who knew it would be so affordable to have a place At The Beach?! In addition, sales continue to climb here in the end of January. Sixty-Six units have settled with new owners so far this month just in Ocean City. You could be Sixty-Seven! Call today to speak with an agent about finding you a quality investment. Whether you want a place to escape for the weekend year-round or a property to earn rental income and build equity we can help you!

2007-01-24T06:49:00.000-08:00

Welcome! It is January 24th, 2007. If you are out and about this morning looking for real estate information check out this article written in the Baltimore Sun this month. It will give you a good idea of what is currently occuring in the Real Estate market. As always if would like to request detailed information about any of the properties you have seen online please do not hesitate to contact us.

http://www.baltimoresun.com/business/realestate/bal-bz.re.harney05jan05,0,295847.story?coll=bal-realestate-headlines-1

2007-01-23T07:01:00.000-08:00

Good morning! It is a bright and sunny day here in Ocean City, Md on this the 23 of January 2007. Sales this month are back up to last years level. So far there are 55 properties that have sold in January! In addition, the inventory is slowly decreasing. Here on the island of Ocean City we have just about 1800 properties currently listed for sale. This is down from over 2000 properties for sale just a few of months ago.

New construction projects are the place to shop right now. Developers are offering fantastic incentive packages and below pre-construction pricing! Now is the time to buy! As the inventory continues to shrink the prices will begin to rise and developer incentives will no longer be available.

Have a great day! We hope to see you are the beach soon!

2007-01-15T06:07:00.000-08:00

Welcome to the only blog designed specifically for Ocean City Md Real Estate. Our goal is to post as much information about the Ocean City real estate market as possible. On a weekly basis we'll review any recent new construction condo sales, oceanfront condos, bayside condos, days on market, what's selling and why, and more importantly what lies on the horizon. We'll link in great new articles that provide insight and thoughts on how to sell and when to buy and we'll show you statistics straight from the National Association of Realtors.
Check back frequently and bring a friend. We'll try to keep this updated weekly.

2006-11-25T10:49:00.000-08:00

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