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PAGE 2
JUNE 2012
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
Real Estate THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
Published monthly by Ocean City Today for the Coastal Association of REALTORS. Advertising in this publication is limited to members and affiliated members of the Coastal Association of Realtors. The COASTAL ASSOCIATION OF REALTORS® (CAR) is a trade organization for real estate professionals in Wicomico, Worcester and Somerset Counties on the Eastern Shore of Maryland. Its membership consists of more than 1,000 REALTORs® and affiliate members serving the home-buying and home-selling needs of the public since 1957. The term REALTOR® is a registered collective membership mark, which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. The COASTAL ASSOCIATION OF REALTORS is located at 314 Franklin Avenue, Suite 106 • Berlin, MD 21811. Phone: 410-641-4409. On the Web: www.coastalrealtor.org OCEAN CITY TODAY is the leading newspaper publisher on the Maryland coast, with Ocean City Today publishing weekly on Friday and Ocean City Digest publishing on Thursday and Real Estate, the Coastal Real Estate Resource publishing monthly. Ocean City Today is located at 8200 Coastal Highway, Ocean City, MD 21842. Office hours are 8:30 a.m. to 5 p.m., Monday - Friday. Phone: 410-723-6397. On the Web: www.oceancitytoday.net Publisher . . . . . . . . . . . . . . . . . . . . . . . . . . . Stewart Dobson sdobson@oceancitytoday.net Assistant Publisher . . . . . . . . . . . . . . . . . . . . Elaine Brady ebrady@baysidegazette.com Account Representative . . . . . . . . . . . . Frank Bottone fbottone@oceancitytoday.net Account Representative . . . . . . . . . . . . . . . Sandy Abbott sandy@oceancitytoday.net Account Representative . . . . . . . . . . . . . Mary Cooper mcooper@oceancitytoday.net Operations Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . John Dobson Senior Designer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Susan Parks Graphic Artist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tyler Tremellen Graphic Artist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David Hooks Comptroller . . . . . . . . . . . . . . . . . . . . . . . . .Christine Brown cbrown@oceancitytoday.net
410-723-6397
WWW.OCEANCITYTODAY.NET
Realtors bring attention to housing’s importance In an election year, rhetoric heats up and many issues come to the foreground; some have even questioned the longstanding value of American homeownership. To ensure that homeownership, housing and real estate issues are a public policy priority in this country, Realtors from across the country rallied in Washington, D.C. on May 17 to protect the American dream. “As the leading advocate for homeownership and housing issues, Realtors want our country’s current and future leaders to understand the vital role real estate plays in both the long- and shortterm health of this nation,” said Sheila Dodson, executive vice president of the Coastal Association of Realtors (CAR). “That is why we [joined] forces … in Washington. Realtors believe that everyone should have the opportunity to pursue the dream of homeownership, and we will fight against obstacles that make it more difficult for people to buy, own and invest real estate.” CAR members serve the Somerset, Wicomico and Worcester counties of Maryland. The Rally to Protect the American Dream took place in front of the Washington Monument. Members of Congress joined Realtors as they heard from speakers about how homeownership issues affect individuals, communities, small businesses and the nation. The rally also highlighted the impor-
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tant role housing plays in the economic recovery. Speakers included National Association of Realtors President Moe Veissi, NAR Chief Economist Lawrence Yun, California See REALTORS on Page 3
UNDER CONTRACT
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MLS 462657
Incredible coastal home, richly appointed finishes with amazing views of Assateague & Inlet: 3 gas fireplaces, 2 master suites, elevator & 2 living areas. Deeded boat slip. Comm. Pool. Must See this Jewel of the Sea!
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304 Salty Sands 2BR/2BA Great Ocean Views Terrific Location Low Condo Fees Close to Shops & Restaurants
MLS 475789
Main Office: 7700 Coastal Hwy., Ocean City, MD 410-524-7700
4BR/3BA+Multi-Slip Dock
Unique Luxury Coastal Home: 6 BR/4BA/2 Half BA Views of Ocean Inlet with 2 Boat Lifts & Jet Sky Lift
MLS 468105
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Direct Bay Front lot- West OC Million dollar views for just $219,999. Build your dream home with spectacular views of Ocean City Skyline.
MLS 473776
Boaters Dream 100 ft. Dock Beautiful Updated Home Huge Sunroom
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Lot 80 Maid At Arms Best Priced water front lot in Glen Riddle Beautiful views Build your own Custom home.
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Townhome #10 3BR/3.5BA+Slip
MLS 477739
MLS 441317
MLS 476483
www.oceancitymdcondos4sale.com
Great Views 3 Bayfront Decks Outdoor Pool Close to Beach & Boardwalk BONUS ROOM 1st FLOOR.
JUNE 2012
PAGE 3
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
Smart money begins going after real estate Positive underlying economic factors are helping relieve a pent-up housing demand, according to a presentation at a residential real estate forum at the Realtors Midyear Legislative Meetings & Trade Expo in Washington, D.C. National Association of Realtors Chief Economist Lawrence Yun said there are many improving factors that are helping home sales. “Historically high housing affordability conditions, ongoing job creation, a solid stock market recovery, rising rents, a larger pool of qualified renters, a pent-up demand and improving confidence are drawing buyers to the market,” he said. “Smart money, largely from investors responding to low home prices and rising rents, is chasing real estate, and we could
see a potential surge once the broad perception of homeownership changes to that of an appreciating asset,” Yun said. “We just finished the strongest first quarter for home sales in five years, pending contracts are pointing to a strong second quarter, and the favorable conditions are helping the economy recover from an unusual slowdown in household formation in recent years with more young people now leaving their parents’ homes.” Despite a minor gain in total home sales last year, owner-occupied sales fell. “A recovery in investment- and vacation-home sales and a high proportion of all-cash deals are hiding the current dysfunctional mortgage market,” Yun said. “Tight mortgage credit is holding back a stronger recovery.
Banks are hoarding cash, possibly from regulatory uncertainties and lawsuits.” Home sales had been basically flat from 2008 through 2011. Yun forecasts 4.6 to 4.7 million existing-home sales in 2012, up strongly from 4.26 million last year, and additional improvement in 2013 with sales rising to the range of 4.7 to 4.8 million. Mortgage interest rates are projected to rise gradually and then average 4.9 percent in 2013 - still historically favorable. “The pressure of rising rents on consumer inflation could force the Federal Reserve to raise interest rates in 2014, which might be good for home sales. Refinancing would fall and bank staff would be able to focus more on mortgage origination for home purchases,” Yun said.
Inflation currently remains under control with the Consumer Price Index rising about 2.4 percent this year and 2.8 percent in 2013. Yun expects the Gross Domestic Product to grow 2.4 percent this year and 3.1 percent in 2013, adding 2.2 million jobs this year and 2.5 million in 2013. Housing starts, which have been well below the long-term average of about 1.5 million, are expected to rise to 770,000 this year from 610,000 in 2011, and to continue growing to 970,000 in 2013. New-home sales are seen at 400,000 this year, up from a record low 306,000 in 2011, and rising to 530,000 in 2013. “With a growing population, we could see housing shortages in 2014 or 2015 if builders See HOMEOWNERSHIP on Page 6
Realtors rally in D.C. to show importance of homeownership Continued from Page 2
Association of Realtors Treasurer Chris Kutzky, Florida State Representative and Realtor Matt Hudson, Certified Commercial Investment Member Greg Hrabcak, as well as U.S. Rep. Steny Hoeyer and U.S. Sen. Johnny Isakson. Approximately 10,000 Realtors attended the rally, which was part of NAR’s Midyear Legislative Meetings & Trade Expo in Washington. Recent opponents have said the government should take a step back in its
role to further homeownership and that homeowners shouldn’t be able to take advantage of certain tax benefits. Critics have also voiced concerns that owning a home may not be a wise investment. NAR says issues like the mortgage interest deduction, foreclosures and short sales, affordable financing and available credit don’t just affect people who own a home – homeownership shapes communities and strengthens the nation’s economy. Coastal Association of Realtors also
points out that housing is a key driver in our national economy. Housing accounts for more than 15 percent of the U.S. Gross Domestic Product and home sales in this country generate more than 2.5 million private-sector jobs in an average year. “Over the past few years our local members have seen buyers in with good jobs and strong credit histories turned down for loans,” said Dodson. “They have also seen hardworking families unable to refinance into a lower monthly
mortgage payment and people losing homes to foreclosure because the bank was too slow to process a short sale. “These problems are happening in every neighborhood across the country, and Realtors are more determined than ever to fight against these obstacles and make sure the American Dream of homeownership is protected for current and future generations.” For more information about the Rally to Protect the American Dream, visit www.realtorrally.org.
SOUTH POINT – OPEN HOUSE SAT., JUNE 2ND & SUN., JUNE 3RD 1-5PM • 11440 Newport Bay Drive, Berlin New! 4 Bedrooms, 3.5 Baths. Another Quality Construction by Monogram Custom Homes. 3,767 sq.ft. on 2.53 acres. Features include First Floor Master and all Viking kitchen appliances. $595,000 (mls 469957) Directions: Rt 611 South. Right onto South Point Rd. Right onto Newport Bay Drive. At corner of Heritage Rd.
33.8 ACRES – 8 MINUTES TO BERLIN JUST LISTED! 10313 Hayes Landing Road, Berlin
33.8 ACRES with a 3 bedroom, 2 bath rancher and a 32 ft. x 60 ft. outbuilding. Situated on nice, high land, the property slopes down to a small creek with turkeys, ducks and geese. Only an 8 minute drive to Berlin and 15 minutes to Snow Hill. $347,500 (mls 477839)
35+ Years Experience in the Local Real Estate & Building Industry DAVID K. DYPSKY • NEWPORT BAY REALTY 9921 STEPHEN DECATUR HWY • WEST OCEAN CITY www.daviddypsky.com • Direct 410.726.5020 Office 410.213.7040
PAGE 4
JUNE 2012
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
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JUNE 2012
PAGE 5
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
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$449,500
Waterfront $199,900
Berlin Perked & ready to build on $174,900
Berlin 10 acres w/well & septic $250,000
Racetrack Rd. 9.13 acres Development Potential $425,000
Salisbury Almost 1 acre – ready to build $35,900
Vacation In Paradise!
Hard To Find
PRICED TO SELL!
Flooded With Sunshine
3$&,286 "$7(5)5217 :(// 0$,17$,1(' (516 $1',1* +20( 2$7 '2&. /,)7 $5*( &$1$/ )5217 6815220 250$/ ',1 50 : +$5':22' )/2256 &(5$0,& 7,/( :,1'2: 6($7 *$6
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$509,000
$529,999
$64,900 $275,000
Hileman Real Estate Inc. • 11065 Cathell Road • Berlin MD 21811 • 410-208-9200 office • 410-208-9562 fax • 800-337-7368 toll free Check out our website for more hot properties www.Po2team.com
PAGE 6
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
JUNE 2012
Homeownership fosters stability in communities Continued from Page 3
12212 Snug Harbor
10137 Old Ocean City Blvd.
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417 West St
37 Mystic Harbour Blvd
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10514 H Racetrack Rd
8354 Langmaid Rd
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12905 Center Dr
239 Mumfords Landing Rd
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Cam Bunting, Broker, ABR, CRS, e-Pro, GRI, WCR, WHC 24 Broad Street, Berlin, MD 410-641-3313 • 410-713-2065 Virtual Tours www.buntingrealty.com
don’t increase production,” Yun said. A sustained decline in housing inventory - both for listed homes and “shadow inventory” of those with seriously delinquent mortgages - is the biggest factor affecting home prices, with broadly balanced conditions developing in much of the country. Yun said the median existinghome price is likely to improve modestly this year, rising just over 1 percent, with a gain of about 3 percent forecast for 2013. Yun’s forecast assumes no adverse Washington policy or tax changes affecting homeownership. He adds there would be significant economic fallout if there is no new budget compromise by the end of the year. Raven Molloy, Senior Economist at the Federal Reserve Board of Governors in Washington, D.C., offered her personal assessment on one residential trend. “Internal migration in the United States is at a 30-year low, and has been declining since the 1980s,” she said. “The widespread nature of the decrease suggests that the drop in mobility is not related to demographics, income, employment, labor-force participation, or homeownership.” Most short-distance moves are housing related, such as needing a larger home, while
most long-distance moves are job related. Younger households move more frequently. Her research shows the downtrend in mobility has been a fairly steady trend over time, with no sharp drops coinciding with the housing market downturn or economic recession. Although renters move much more frequently than homeowners, the aging of the population may be a factor in the general slowdown. Molloy notes that migration out of states with many underwater homeowners has not fallen more than in other states. However, other research shows that local moves are lower for underwater homeowners. Migration within the U.S. remains higher than it is within most other developed countries. Molloy said the link between migration and macroeconomic performance has received relatively little attention. “High levels of migration may reduce commitment to the provision of local public goods or corrode social ties in other ways, in which case lower mobility might raise aggregate wellbeing and possibly economic output. This is an important topic for future research.” Earlier NAR research found homeownership helps to foster stable communities and economic well-being.
Take that old cell phone and smash it to protect yourself Data security experts suggests that you may be better off smashing your aging laptop or cellphone instead of donating it or selling it if you want to keep sensitive information you had on it safe, the Nationals Association of Realtors reported in a recent newsletter. Windows XP laptops and Android smartphones — even when reset to their original factory settings — were found to be the most vulnerable and still contained sensitive personal information that could be uncovered on the devices, Robert Sicilliano, a McAfee identity theft expert, told USA Today. Sicilliano purchased 30 used devices off Craigslist. He found that half the devices were clean, but 15 of the devices still con-
tained a lot of personal information. He was able to find bank account numbers, Social Security numbers, work documents, and court records on some of the devices. Apple’s iPhone and iPad as well as Research in Motion’s BlackBerry were found to not pose the same risks as Android smartphones, Sicilliano said. Nevetheless, users should reset the devices to their original factory settings before giving them away. Mary Ann Miller, financial fraud expert at Nice Actimize, told USA Today that device makers need to provide more guidance on how to responsibly get rid of old electronic devices to prevent security breeches. Until then, Sicilliano says: “I would beat the thing to death.”
More to buying a home than its pricing and its appearance While many buyers may be swayed by the home’s appearance, financing, and location when choosing a home, housing experts say they often overlook other important factors that may keep them happy for years to come with their home purchase. The National Association of Realtors cited a recent article at U.S. News & World Report lists tips for those oftenforgotten aspects of home ownership. Here is one of those overlooked aspects: Zoning of nearby areas: What you see today may not be what you see a few years from now. Communities’ and
neighborhoods’ landscapes can drastically change in a few years. And while some of these changes may be good — such as the addition of a nearby recreation park or school — some may be viewed as a negative, like a new highway overpass behind the property, the article notes. By reviewing upcoming plans and existing zoning at the city’s urban development department, home buyers can get a better idea of what the future may hold for the surrounding area of the neighborhood they choose.
JUNE 2012
PAGE 7
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
LONG & FOSTER REAL ESTATE, INC. Ocean City
11701 Coastal Hwy | Ocean City Square Shopping Center | 410-524-1700
Call Us For Our List of Foreclosures ,/+2* -".%(4 &*/"! "2 -,"/ "2 ,,(& * ". "2 &*4( 2&))&*$ ++(
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TopProducers JACK & JOAN WALTER Sales Agents, Licensed in MD & DE
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Office: 1-877-655-6170 Cell: 410-430-1088 www.buyoceancity.net
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email: jack.walter@longandfoster.com ./","* &/ %"* ,"* +- %
Tom Niemkiewicz REALTOR®, GRI, LICENSED IN MD & DE
Buying or Selling - Let My 18 Years of Experience Work For You
Office Toll Free: 800-992-7777 x1146 Cell: 410-603-2136 Agent’s Website: TOMNIEMKIEWICZ.LNFRE.COM E-Mail: TOM.NIEMKIEWICZ@LONGANDFOSTER.COM
11701 Coastal Hwy. Ocean City MD 21842
FOR ADDITIONAL PHOTOS OF THESE LISTINGS GO TO MY WEBSITE: TomNiemkiewicz.lnfre.com SPACIOUS CONDO TOWNHOUSE
EXTRA-ORDINARY WATERFRONT HOME
Spacious 2,350 sq. ft. 3BR/2.5BA vaulted ceilings, bright skylights, views of wetlands, laundry room, utility room, 2 car garage. Nestled at the very end of the golfing community ‘’The Innerlinks’’, across from Ocean Pines Yacht Club with all of it’s amenities. $286,000
Palm Beach comes to Terns Landing with its majestic look & bold maintenance free landscaping. 6953 sq. ft. extraordinary 6 BR, 4.5 BA, great/sun room, formal dining room, den/office, game room, impressive entrance hall with magnificent free standing spiral staircase & overlooking loft. Features include: giant sun filled rooms with water views from every room, 1st & 2nd flr. master BR, and deep water dock w/lift. $1,700,000.
WATERFRONT WITH DOCK Fully furnished, 1st floor unit w/southern exposure. Waterfront balcony, steps to boat slip #11, easy access to the bay. Trailer parking available on premises. Outdoor pool. Convenient to beach, Northside Park, shopping & restaurants. A must see unit. $165.000
DIRECT BAY FRONT This 1 BR, 1BA unit is one of a very few with an open unobstructed view of the bay from the large private balcony, living room, kitchen and bedroom. Enjoy fabulous sunsets after a day of fishing and crabbing off of the spacious bay front deck. Boat slips available through the condo association. $169,000.
OCEANFRONT BUILDING Beautifully furnished, 3BR, 2BA south side end unit with many upgrades, Great balcony to capture spectacular sunsets that illuminate the entire bay. What a view from your living area and master bedroom. Large nicely designed lobby, heated indoor pool, game room and storage locker for your beach chairs and toys. $348,000.
GREAT STARTER HOME Very nicely maintained, 3 BR, 2BA, 1344 sq. ft. home that is ready to welcome a new family. Peaceful wooded lot with a private deck and storage shed for all of your garden equipment. It’s hard to beat all of the community amenities Ocean Pines has to offer. A must see property. $169,000.
INNERLINKS – OCEAN PINES Charming, beautifully designed 4 BR, 2.5 BA with 1st fl. Master. Built with high quality features such as granite kitchen counter tops. 3 season room overlooking a maintenance free, very private, beautifully landscaped exterior. Nestled in the middle of the Ocean Pines golfing community close to the yacht club. $298,000
OCEANFRONT END UNIT Unique 2BR, 2BA plus den & laundry room, with private balcony on the ocean side and private courtyard side balcony. Fully furnished, new sliders & windows plus fresh paint makes this unit move in condition. What makes this condo so popular are the many amenities including indoor pool, outdoor pool, 3 tennis courts, basketball court, volleyball court, saunas, fitness room, game room, playground and shops. $265,000.
WATER VIEW LOT One of only a few nice wooded lots with mature trees still available in the recently developed waterfront community in Ocean Pines called 'The Point'. Enjoy water views from front & back of your new home on this beautiful tree lined street & all the amenities Ocean Pines has to offer. $65,000.
DIRECT BAY FRONT With the best southwest corner location. Beautifully decorated and furnished 3BR, 2BA unit provides greatest views of open bay & unbelievable sunsets, especially from living room, master & wraparound balcony. Enjoy many upgraded features - crown molding, B-board in wide entrance hall, extra tile, solid surface counter tops, gas fireplace, etc. Conveniently located on same floor as outdoor pool. Other amenities to enjoy: fitness room, private pier to wetlands & bay. Midtown location provides close relationship to everything, especially the beach.You just have to see it. $398,000.
OCEAN PINES WATERFRONT HOME Large 2,224 sq. ft. 5BR, 3BA home. Extraordinary 17,996 sq. ft. waterfront lot spans the entire end of a wide canal with an expansive water view down the canal to the Ocean Pines golf course. Expanded a-frame with lg. kitchen, living area & family room with FP. Lots of bulkhead space for boat dockage & water sports. Enjoy all the amenities Ocean Pines has to offer. A Must see property. $298,000.
CAINE WOODS NORTH OC This beautifully decorated 2 bedroom, 2 bath spacious contemporary townhouse styled penthouse with a vaulted ceiling & bright skylight makes this unit a pleasure to enter. With no one overhead and the building nestled off the road gives you a sense of quiet retreat. To see it is to enjoy it. $139,900.
PAGE 8
JUNE 2012
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
LONG & FOSTER® REAL ESTATE, INC. 11701 Coastal Hwy Ocean City Square Shopping Center Ocean City 410-524-1700 800-992-7777
Ocean City
TIM MEADOWCROFT Cell: 443-235-7266 Office: 410-520-2704
SEA LODGE
CAMELOT
Top floor ocean view 2BR/2BA. Great mid town location. Furnished, newer ceramic tile throughout living areas, updated baths. Buyers must honor all 2012 booked rentals. Short sale.
The M a r ke t I s Heating Up!
DIRECT BAYFRONT
EXCALIBUR
Great ocean view, well maintained, Boaters dream w/southern exposure, Awesome ocean views. 2 parking spaces, bright & beachy, steps to the sand. Tile awesome sunsets on deck or sunny sprinkler system, hurricane shutters, pool. throughout, attractive furnishings, and 3 season room. Deeded dock. 3 BR 2 BA Nicely furnished, many upgrades very roomy. Great rental but doesn't show open floor plan w/cathedral ceilings & including corian, newer kitchen & it. Buyers must honor all booked rentals. skylights. Breathtaking views! bathroom flooring, newer carpet.
$249,900
$319,000
$499,999
$299,900 HAWAIIAN VILLAGE
!
ED
C DU
RE
PINEY ISLAND Spacious contemporary with cathedral ceilings, bright sunroom, tropics inspired deck, fireplace, separate laundry room, and split floor plan.
$279,000
SHELLIE LEVETON
BLUE MARLIN Blue Marlin. Lovely 2 bedroom, top floor, cathedral ceilings & fireplace. Watch the fireworks from your balcony! 2 pools & great view of the open bay from huge balcony on a canal”
Cell: 443-373-1972 Office: 410-524-1700, x1117
MYRNA WRIGHT Cell: 410-641-4438 Office: 410-524-1700
BECKY MITCHELL Direct: 410-603-0528
MARY LOU HEARN Cell: 410-726-8280 Office: 410-524-1700
MARY MCCRACKEN Cell: 410-430-7302 Office: 410-524-1700
LG. 2BR/2BA CONDO on 1st floor w/balcony. Pool w/tennis courts. New flooring, self-cleaning range just installed. Sellers offering $2,000 toward closing costs or decorator allowance.
LIKE NEW!
LOOK AT THIS!
FANTASTIC OCEAN VIEW
2BR/1BA furnished w/southern expoBayview 3BR/2.5BA, 3-level TH! 2,275 sf. w/Dream from these 2 BR tastefully furn. condos. sure, waterfront balcony, deeded finger Kitchen w/ energy eff. s/s appls, granite counters & Outdoor pool, atrium w/lap pool, sauna, pier w/boat lift, waterfront pool. Bldg. in pantry. Lndry Rm w/shower, cathedral ceilings, 4 balfitness ctr, Jacuzzi. Steps to the beach. excellent condition w/common storage conies! Tile floors, berber carpet, ceiling fans, 4 parking & strong association. 441573 spots, multi-zone heat pump, vinyl siding. 474318
$219,000
$420,000
Starting at $310,000
THE PLAZA
THE QUAY
OLD PORT COVE
Premiere Oceanfront Building located at Premiere Oceanfront Building located at Lovely waterfront townhome. 2BR/ 98th St and ocean offers heated out/in 107th St and ocean offers heated out/in 1.5BA, large deck, private boat slip, direct and kiddie pools, tiki bar/grill, restaurant, pools, saunas, tennis, game rooms, inter- access to open bay. Beautifully redone hot tub, saunas, game rooms, 24 hr secunet cafe, 24 hr security and loads of kitchen, new ceramic tile, lovely furnishrity and 2 parking. 2BR+den starting at parking. 2BR starting at $275,000; ings, wood burning fireplace. 476906 $360,000; 3BR/2BA starting at $485,000 3BR/2BA starting at $495,000 $230,000
#319 136TH STREET
GOLDEN SANDS
HARBOUR CLUB #2C
Amazing Single Family Home on water with private boat slip, just 4 blocks to ocean. 6BR/3.5BA, large living room with fireplace, 1st & 2nd floor master suites, huge deck, 2-car garage. 475059
Lovely Oceanfront 1BR/1BA, floor to ceiling windows for incredible views. Updated kitchen, beautifully redone bath. Perfect beach getaway or amazing rental. 472826
2BR/2BA, on canal with deeded boat slip in private community with 3 outdoor pools, indoor pool, exercise room, tennis, saunas, meeting rooms. Lovely furnishings, great rental income, great buy. 473715
$549,900
$239,900
$290,000
$149,000
BRAEMAR TOWERS
CAROUSEL
CAPRI
Nicely furnished, 2BR unit w/awesome ocean views. Tile floors! Amenities incl. pool, sundeck, game rm, fitness rm. 131st St. & Ocean. Buyer to honor all rentals.
Oceanfront in the ''Grande Dame'' of Ocean City. Nicely furnished & recently updated. Amazing views from the 17th floor!!! Amenities are the best in town.
3BR, wood laminate floors. Whirlpool tub in master bath. Indoor pool, fitness & game room w/basketball & tennis courts, pool tables, pinball, library, saunas.
$244,900
$319,900
$369,900
Great Vacation or Investment Property. Super family room w/fireplace, dining area, kitchen w/breakfast bar, laundry area off kitchen, ADAGIO 3BR/2BA. Relaxfloor under the covered Tastefully furnished. Open plan. deck, oversized garage. New Roof. Cell: w/granite Lg. kitchen counterinclude & breakHOA amenities outdoor poolocean & lawn maintenance. Easy trip fast bar. Gas FP, view, walk 410-603-6625 to Ocean City&Boardwalk & Asto restaurants. pool fitness rm. Office: Indoor sateague Parks.
LINDA ZARETSKY
$25,000 in GRI for 2011.
JUST REDUCED 410-524-1700 $415,000$218,900
JUNE 2012
PAGE 9
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
Collectively OVER 40 YEARS OF EXPERIENCE as REALTORS ® at the Beach!
“Mr. Bill” Nielander Associate Broker CRS, GRI Cell: 410-430-8783 Email: OCMrBill@aol.com
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Associate Broker GRI Cell: 443-783-1483 Email: SCain@aol.com
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LONG11701 & Coastal FOSTER® REAL ESTATE, INC. Hwy | Ocean City Square Shopping Center Ocean City
Local 410-524-1700 • Toll-Free 800-992-7777
PAGE 10
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
JUNE 2012
COLLEEN DEPTULA colleen.deptula@cbmove.com
410-641-5700 • 443-880-3471
FREE
HOME WARRANTY
For My Clients FEATURE
All My Real Estate Clients Receive: Dedicated Service
Prompt Communication Protection of Your Best Interest
COUNTRY LIVING with town services. Large living room, country kitchen, family room &workshop. Low taxes. $159,900
Technology to Achieve Your Objectives Analysis of Current Market Values
Help With All Aspects of Transaction My 20 years of Experience
11001 Manklin Creek Rd. #4 Ocean Pines, MD 21811 • 410-641-5700
! ,$+
ATTEND CONFERENCE Brent Miller and Amy Miller of Sperry Van Ness-Miller Commercial Real Estate Advisors, and Kevin Maggiacomo, president and CEO, of Sperry Van Ness display the plaque naming Van Ness-Miller one of the top 10 firms. The Millers, along with Henry Hanna, John McClellan and David Wilk, recently attended the SVN “Get Connected” Spring Conference in San Diego. McClellan was recognized as a top advisor ranking 20th and Hanna ranked 22nd in the country. Hanna also received the SVN “Ambassador of the Year” award.
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JUNE 2012
PAGE 11
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
GEORGE RINES
Licensed in MD & VA 11001 Manklin Creek Rd Unit 4, Berlin, MD 21811 Office - (410) 641-5700 / Fax - (410) 208-1200 Mobile - (410) 603-6382 Direct Office - (410) 208-6342 glrines@cbmove.com / www.cropperrines.com
When Only the Best Will Do...
Fantastic Ocean City Living This well maintained 1st floor 2 BR/2 BA condo located within walking distance to Northside Park, the beach & restaurants. Some water & park views. Hidden Harbour offers a beautiful community w/ a private pool. Unit is offered fully furnished w/ a deeded boat slip (# 234) Some recent improvements in the last few years include heat/ac, w/d stack, hot water heater & garbage disposal. MLS #473124
$239,000
Ideal location and nice views of the ocean and bay from this 1 BR 1.5 BA oceanblock unit. 2 new AC units 4/09. Exterior of Coral Reef has recently been redone and looks great. MLS #455752
$149,999
This lovingly maintained 3 BR/2.5 BA townhome sits on the beautiful Fenwick Ditch. Awesome waterfront views. Features a garage, an extra long pier and an attached shed. Kitchen overlooks the living room w/ gas FP & out to the enclosed three season room with panoramic views of the Fenwick Ditch. MLS #476655 $449,500
62.5 ft. of bulkheaded waterfront w/ room for 3 boats. An income producing 2 BR apt. & an oversized 2 car garage. This 3 BR, 2 BA home is freshly painted & has new flooring. Large eat in kitchen, separate laundry room and custom bar overlooking the water. MLS #476652 $549,500
Large 4 BR home offering wonderful, peaceful creek views (Porter’s Creek) & serenity within close distance to OC beaches, Assateague & historic Berlin. Many recent updates to the home including new (2009) nitrogen removal septic system w/service contract, Brazilian Oak hardwood floors in living areas, granite counters, freshly painted master BR & foundation of the home. Large garage, patio, awesome views from waterfront master suite & balcony. MLS #473353 $364,900
The Sounds of Silence – Ocean Pines
Popular ‘’Mariner’’ model by Grace Construction. This is your chance to get a new home without the wait! Wood floors, Florida room, fireplace, screened porch & covered front porch, 1st floor master, 2 car garage, walk-in attic storage, separate laundry and much, much more. MLS #476340
Enjoy the 125 feet of bulkheaded waterfront from this 5 bed 3 bath home. 2 car garage, 8000 lb boat lift and 2 jet ski lifts, shed for extra storage & 2444 sq. ft. of living space. Three season room, sun deck and balcony from which you can soak up the ease & comfort of Eastern Shore living. MLS #476754
$449,900
$304,900
3BR/2BA, 3 season room & detached shed for extra storage. Bamboo flooring, tile & carpet. Many updated items include water heater ('09), HVAC ('09) 20x10 addition ('06), new flooring in laundry room ('12). Caliban home with 200 sq. ft. added living space. MLS#477564
$210,000
Great Ocean Pines home with 3BD/2BA, hardwood, tile and granite are just the beginning of a long list of upgrades. The extra’s continue to the outside where you can lounge beside the pool on the custom deck next to the hot tub. MLS 478277
4BR/3BA with open cleared lot. Two car garage w/plenty of workspace and cars!! Open living areas, large screen porch & deck overlook spacious backyard. Large shed for addl. storage. Ample parking, many updates...too many to list! #475498
$295,000
$239,900
WHEN QUALITY AND HONESTY COUNT... REPUTATION TELLS THE STORY. JUST ASK THE HUNDREDS OF SATISFIED HOME OWNERS THAT HAVE
GRACE CONSTRUCTION HOMES With models starting under $87.50 sq.ft. It just make “cents” to build new. Call George L. Rines III for prices, a customer list, and directions to our model home.
PAGE 12
JUNE 2012
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
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JUNE 2012
PAGE 13
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
Energy saving, indoor quality push green home construction Remodeling and construction of single-family homes to make them more green continues to grow as more attention is placed on the benefits of going green for energy efficiency savings and better indoor quality, the National Association of Realtors reported. City a new study and a report by McGraw-Hill Construction, the NAR said the green home market share has grown to 17 percent in 2011. McGraw-Hill Constructionâ&#x20AC;&#x2122;s SmarkMarket Report said that percentage is expected to rise to 29 percent to 38 percent by 2016. According to the report, the two key forces driving the green growth: Green homes are often viewed as higher quality and can potentially save consumers money on utility costs.
MICKEY LOBB, GRI Cell: 443-880-2064 Office: 410-208-3500
mlobb@mchsi.com www.mickey.lobb.pfragent.com
â&#x20AC;&#x153;In the current residential market, there is an enormous need to differentiate your homes for consumers,â&#x20AC;? says Harvey Bernstein, vice president of Industry Insights and Alliances at McGraw-Hill Construction. â&#x20AC;&#x153;When builders are able to offer homes that not only are green but also offer the combination of higher quality and better value, they have a major competitive edge over those building traditional homes.â&#x20AC;? In the past, builders have cited higher upfront costs as a roadblock to building green. However, the survey found that a much lower percentage of builders view that as an obstacle now than in 2008. The report was produced by McGrawHill Construction, in conjunction with the National Association of Home Builders and Waste Management.
11001 Manklin Meadow Lane
" Beautiful Bright & Airy Contemporary Home. Recent Upgrades, Hardwood Fls. in Foyer, LR & DR, Ceramic Tile Fls. in the Kit. & Sunroom, Tiled Gas FP, In Ground Sprinklers, Brick Paver Patio, 1st Fl. Master W/Walkin Closet, Newer Stove & DW. Across the Street from a Robert Trent Jones Designed Golf Course. $289,000
Beautiful Cape May Model Shows the Meaning of Pride of Ownership. Walk to OP Yacht Club & 2 Marinas. Upgrades Incl: Laminate Flooring(09), New Heat Pump (10), Kitchen (08) -Corian Counters, Refrig. & DW, New Carpet(08), Storm Shutters in Front BR,, Hand Painted Tiles in BA, Vinyl Tech 3 Season Rm. & Rear Deck. $290,000
Fannie Mae shows big improvement Fannie Mae, which backs the most loans in the country, announced that it would not need taxpayer aid to cover losses for the first time since the federal government took control over the mortgage giant in 2008. Fannie posted a profit in the first quarter of the year, reporting a net income of $2.7 billion compared to a $6.5 billion loss they reported in the first quarter of 2011. â&#x20AC;&#x153;We expect our financial results for 2012 to be significantly better than 2011,â&#x20AC;? says
DRASTIC PRICE REDUCTION
$175,900
Spacious Double Wide, MBR w/Jacuzzi BA & Skylight, New Carpets, Recent Upgrades In 2006 Include Tankless Hot Water, Roof, Kit. Appliances, W/D & Disposal! Lg Deck, Beautiful Landscape Garden W/ Waterfall, Outdoor Shed. Close To The Beach. No Ground Rent. HOA Fee Includes Water, Sewer, Trash Removal & Common Area Maint. Financing Available. $100,000
Susan McFarland, Fannie Maeâ&#x20AC;&#x2122;s chief financial officer. â&#x20AC;&#x153;As our serious delinquency rate declines and home prices stabilize, we expect to reduce our reserves, which combined with revenue from our high-quality new book of business, will drive our future results.â&#x20AC;? Several analysts say there are signs of the housing market stabilizing: The decline in home prices is slowing, more Americans are buying homes than a year ago, and housing starts have climbed in the last year.
REDUCED
$15K!
$349,900
$275,000
$419,000
NO
CITY TAXES!
ABSOLUTELY ABSOLU GORG UT TELY GORGEOUS GEOUS
ABSOLUTELY STUNNING TU A AB BSOLUTELY S UN NNING
Only 1/2 block from the Beach h. 1BR/1BA, beautiful ocean views from living room. New KDUGZRRG Ă&#x20AC;RRUV : ' IURQW GRRU VWRUP door, sliders, storage door, heat pump, water heater, FP & updated bath. New pull out queen size sofa - condo can easily sleep 6. Separate storage room. Seatime complex RIIHUV \HDU URXQG SRRO Z NLGGLH SRRO ÂżWQHVV room, indoor hot tub and short walk to the beach! Great rentall potential! Financing Available! Priced to Sell!! MLS 476910
3BR/2BA just mins. from beaches & Public Landing Boat Ramp. Nestled on 2 + acres w/tons of upgrades - granite counters, SS appliances, FP, hardwood Ă&#x20AC;RRUV WKURXJKRXW '5 VLWWLQJ UP great rm, radiant heated ceramic tile Ă&#x20AC;RRUV LQ PDVWHU %$ XSJUDGHG WLOH in kitchen. 3BR w/oversized master suite & jetted tub. MLS 476932.
$369,000
!
WATERFRONT W ATERFRONT 3BR, 3.5BA end DEEDED unit Townhome w/ BOAT Waterfront living SLIP room, family room and Master BR. Beautiful kitchen w/ granite counters & eat up counter. Separate walk-out waterfront family room. 2 car garage. MLS 477749.
! WATERFRONT
$375,000
O NE O FAK KI IND! ONE OF KIND!
CUSTOM CUSTOM B BUILT UILT
Colonial Home nestled on 7+ Acres.Custom Built 6BR/4.5BA. Hardwood & ceramic tile Ă&#x20AC;RRUV JRXUPHW NLWFKHQ Z &RULDQ FRXQWHUV upgraded appliances, down draft vented cooktop,3-season rm w/carpet & lighting, 2 Master Suites w/addl. vanities located outside of batth. 2-Zone HVAC w/oil hot air system, storage shed w/electtric, oversize 2 car garage. Backks to the Audobon Society property. Th his is a must see - Call now to schedule privatte showing! MLS 476993.
3BR/2BA A in West OC on oversize canal w/ quick access to the bay and OC. Cathedral Ceilings, Master Suite w/Ceramic tile Bath, huge walk-in closet & private waterfront deck, 2 Car Garage, Deeded Boat Dock & Deck, Outdoor Shower, Water conditioning system. Low County Taxes! No City Taxes and No HOA Fees! In Move in Condition. Aggressively priced to sell quickkly. MLS 478424.
55+ 5+ COMMUNITY T THE HE P PARKE COMMUNITY ARKE â&#x20AC;&#x201C; 5
$156,900 $229,000
$235,000
$312,500
ON GOLF COURSE!
IINNERLINKS NNER RL LINKS 3BR/2.5BA in brand new condition on oversized private lot. Cathedrall ceilings, VN\OLJKWV KDUGZRRG Ă&#x20AC;RRUV JUDQLWH counters, upgraded appliances & cabinets. VW Ă&#x20AC;RRU 0DVWHU 6XLWH Z VRDNNLQJ WXE shower. Family room, screen porch, brick pattio, loft, walk in atttic.Laundry Rooom w/cabinetry & extended garage. Driveway accommodates boat and jet skis. Aggressively priced home for golf course location. MLS 478157.
LIGHT LIGHT FILLED FILLED CONDO CONDO 2BR/2BA + oversize den that could easily be 3rd BR. Great location in South Gate Ocean Pines. Walk to shopping, restaurants, library, indoor pool. Enjoy the many amenities of Ocean Pines. Newer W/D, dishwasher & microwave. Motivated Seller so bring all reasonable offers. MLS 476917.
Debbie Bennington D ebbie B ennington RealtorÂŽ FRÂŽ R ealtorÂŽ SSFRÂŽ ddebbennington@hotmail.com ebbennington@hotmail.com
27 27 A ARCADIA COURT OURT RCADIA C
2 EASTON EA AS STON
5 55 5C CHATHAM COURT OURT HA H ATH HA AM C
/LJKW ÂżOOHG %5 %$ $ KDUGZRRG Ă&#x20AC;RRUV hen & dining throughout family rm, kitcch area, upgraded kitchen cabinets, cathredral FHLOLQJV FHUDPLF WLOHG EDWKUP Ă&#x20AC;RRUV community Cul-de-sac location near FOXEKRXVH LQGRRU SRRO ÂżWQHVV FHQWHU billards lounge and more... Aggressively priced-will not last long! MLS 477005
Gorgeous 3BR/2BA features oversized living room, eat in kitchen open to family room, computer desk area, extremely ODUJH ÂżUVW Ă&#x20AC;RRU PDVWHU VXLWH PDVWHU bath w/soaking tub & walk in closet. Walk to shops, restaurants, parks, tennis courts and community clubhouse. This one has it all and is a must see home. MLS 476918.
Absolutely gorgeous 3BR/3BA Osprey Model with h Loft on one of the most private lots in the Parke. Kitchen w/upgraded cabinets, breakfast bar & appliances. Beautiful master suite w/tray ceilings & double crown molding. Large sunroom leading to private deck with awning.All the amenities of Ocean Pines & The Parke gives you the lifestyyle you deserve! Agressively priced to sell quickly. Call now for showing. MLS 477461
410-208-3500 x308 2 2IÂżFH IÂżFH 410-603-8065 410-603-8065 &HOO &HOO 866-666-1727
Prudential Prudential PPenFed enFed Realty Realty 11001 Manklin Meadows Lane Ocean Pines, MD
PAGE 14
JUNE 2012
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
Low-ball offers not working as before Home buyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, the National Association of Realtors reported in its weekly updates. Home prices have fallen and mortgage rates are hovering near record lows, pushing home affordability for the average family to record highs. Meanwhile, the National Association of Realtors reports that rents have been on the rise, making owning a home cheaper than renting in most areas of the country. But the housing deals aren’t expected to stick around much longer. An improving job market, a decrease in the number of home owners falling behind on their mortgage, and an anticipated improvement in access to mortgages is expected to help home prices start bouncing back by next year, economists say. Investors eyeing profits in rentals also have been snapping up bank-owned properties, which Clear Capital’s Alex Villacorte attributes as helping to lead to an increase in prices on foreclosed properties. This “could have a significant impact on the market overall in terms of providing a rising floor to home values,” Villacorte told CNNMoney. Some areas are already seeing prices rise. In Phoenix, housing prices have already increased 8.4 percent during the three months ending April 30, and Miami saw prices bump up 4.6 percent quarter over quarter, according to Clear Capital data. “Stuff I was selling six months ago for $60,000 to $80,000 is now $90,000 to $110,000,” Tanya Marchiol, founder of
Team Investments in Phoenix, told CNNMoney. As for mortgage rates, buyers may want to act more quickly because they are expected to tick up slightly by the end of the year. The increase is being sparked by greater demand, says Doug Lebda, CEO of LendingTree. He predicts 30-year fixed-rate mortgages will inch up to 4.5 percent by the end of the year, which is still low, however, by historical standards. According to the NAR, the Mortgage Bankers Association is also predicting a big leap in mortgage loans next year. For this year, MBA estimates that buyers will take out loans totaling about $415 billion, but by 2013 that number is expected to nearly double to $706 billion. With signs of a housing turnaround getting stronger, housing experts say buyers are finding several recent changes when they go to put in an offer on a home. A recent article at U.S. News & World Report highlights some of these changing “rules” for buyers: 1. Lowball offers won’t likely stick: Sure, deals are still around, but lowball offers that aren’t in line with comparable sales data are increasingly proving to be a waste of time. Buyers may be better off asking for seller concessions, such as closing cost assistance or making home repairs, rather than making offers way below the asking price. “Keep in mind that a lowball number may turn off the seller and close down any chance at negotiation,” the U.S. News & World Report article cautions potential buyers. 2. Get pre-approved: Getting a loan isn’t easy nowadays as lenders have tightened
their credit standards in recent years. Serious buyers should check their credit and get pre-appoved for a loan to determine how much of a home they can even afford even before they start their home search. 3. Get realistic about the market: Real estate agents can show buyers comparable nearby sales to help educate them about local market conditions. Transactions from the last six months are the most important. Another important piece of information for buyers is knowing how long properties are staying on the market. 4. Expect some competition. Housing inventories are dropping in many areas and spurring an increase in demand. Home buyers may face increased competition for the home they want, particularly among short sales and foreclosed properties, in which they may be up against investors who are making all-cash offers. That’s why experts say it’s important bank-financed buyers know their financial situation in advance to better compete. 5. Conduct property research: Real estate agents will help guide clients on what all they need to do when they find a property they like, but one important step nowadays: Buyers should hire a title company to check for any liens or tax arrearages, the article notes. Housing experts also recommend hiring a home inspector, verifying the accuracy of the property line (by asking seller for the survey or having your own conducted), and make sure all necessary disclosures about the property, required by the state, have been made.
Vacation home buyers stay closer to main residence Bargain home prices have jumpstarted sales on second homes, but more purchasers are opting to buy properties much closer to their primary residence. In the past, second-home buyers tended to buy properties out-of-state or were lured to vacation homes near farflung resorts and tourist destinations. But second-home purchases these days seem to be more restrained, as more purchasers opt for vacation spots that are within a relatively short drive of where they live. Moreover, these properties aren’t as glitzy as in recent years, The Wall Street Journal reports. The median distance between a buyers’ vacation home and primary residence took its first decline on record, averaging a 305-mile distance in 2011, a drop of 19 percent from 2010, according to data from the National Association of Realtors. “People want to stay within driving distance because they’re more able to maintain the homes, they have better networks in place, and friends and family nearby to use and sustain the homes,” Jon Gray, vice president of HomeAway.com, told The Wall Street Journal. A recent HomeAway survey found that vacation homebuyers prefer to buy a home nowadays that can be reached in four hours or less from their primary home.
MARLENE OTT
Check Out My Web Site: www.marleneott.com
Associate Broker Email: marleneott@remax.net 11049 Racetrack Road, Berlin, Maryland 21811
Call Me Today To See Any Ofc: 410-641-5222 • Cell: 410-430-5743 of These Homes!
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Serving the Berlin & Ocean Pines Communities Since 1978 Each office is independently owned and operated.
JUNE 2012
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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
Student artists win recognition in poster contest To commemorate April’s Fair Housing Month, the Maryland Association of Realtors (MAR) annual Fair Housing Poster Conatest winners were announced and recognized at an awards ceremony held at the State House in Annapolis recently. Each year, 14 pieces of artwork are chosen out of thousands of entries from around the state, and these selections are included in the annual MAR calendar. Selected as the first place winner from the local Coastal Association of Realtors (CAR) was Alexander McCullough, a 4th grader at The Salisbury School. Alexander’s artwork was then submitted on the state level, and he had his artwork chosen by MAR as one of the winning entries to be included in the 2013 MAR Fair Housing calendar. He attended the reception held in Annapolis to receive his award plaque from the Maryland State Treasurer, Nancy K. Kopp. The contest’s theme for the 2013 calendar was “Fair Housing Lives in Maryland”, and the contest seeks artwork from children between kindergarten and 8th grade age group. CAR solicited artwork submissions from schools throughout the tri-county area of Worcester, Wicomico and Somerset. After reviewing hundreds of submissions, the Community Services Committee at CAR selected these winning artwork samples that best illustrated
The winning entry in the Maryland Association of Realtors’ “Fair Housing Poster Contest.”
how “Fair Housing Lives in Maryland”: 1st Place: Alexander McCullough, 4th grade, The Salisbury School; 2nd Place:
Kelly Polk, 4th grade, Worcester Preparatory School; 3rd Place: Alexis Robertson, 2nd grade, The Salisbury
School; and, Honorable Mentions to students from Deal Island School and Princess Anne Elementary.
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PAGE 16
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS/OCEAN CITY TODAY
JUNE 2012