October 2021 Real Estate Guide

Even with low rates, refinancing can save you money . . . PAGE 9

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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

Real Estate

OCTOBER 2021

INDEX OF ADVERTISERS

THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today

Published by Ocean City Today for the Coastal Association of Realtors.

Advertising in this publication is limited to members and affiliated members of the Association.

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, Bayside Gazette and Ocean City Digest publishing on Thursdays and Real Estate, the Coastal Real Estate Resource publishing key weekends throughout the year.

On the Web: www.oceancitytoday.com Editor .........................................................................Stewart Dobson Managing Editor............................................................... Lisa Capitelli

Nanette Pavier/Holiday Real Estate .................................Page 2 Northrop Real Estate.........................................................Page 3 Marlene Ott/Berkshire Hathaway PenFed Realty............Page 4 Spike Sands/Berkshire Hathaway PenFed Realty ............Page 4 Berkshire Hathaway PenFed Realty/Ocean Pines............Page 5 Berkshire Hathaway PenFed Realty/Ocean Pines............Page 6 Long & Foster.....................................................................Page 7 Maryland Title Service.......................................................Page 7 Beth Gismondi...................................................................Page 8 George Rines/Coldwell Banker Realty..............................Page 8 Jennifer Cropper-Rines/Coldwell Banker Realty.............Page 8 CAR Affiliates ....................................................................Page 8 ERA Martin/Shamrock Division ......................................Page 9 Coastal Association of Realtors .......................................Page 10

Account Managers ................... Mary Cooper, Vicki Shrier, Amanda Shick

Hileman Real Estate.........................................................Page 11

Classifieds/Legals/Production Manager .................... Nancy MacCubbin

Jamie Caine/Coldwell Banker Realty..............................Page 12

Senior Designer .............................................................. Susan Parks Graphic Artist ................................................................... Kelly Brown Publisher..................................................................... Christine Brown Admin. Assistant................................................................... Gini Tufts

410-641-0039 WWW.OCEANCITYTODAY.COM It’s Time To Own A Beach Home!

Nanette Pavier Cell: 443-235-3498

Main Office: 7700 Coastal Hwy., Ocean City, MD 410-289-8888

Your Delmarva Resort Specialist Licensed in Maryland & Delaware

For Updated Prices & More Listings: Call 443-235-3498 Scan code or Visit my Website WWW.OCEANCITYMDCONDOS4SALE.COM

NAR Designated Pricing Strategy Advisor

Heron Harbour Sales Center 120th St Open Friday-Monday 11-4 2 Outdoor Pools, Indoor Pool, Fitness Center, Tennis Courts, Sauna and Club House

The beautiful marina community of Heron Harbour Isle offers 1-4 bedroom condominiums and townhouses that have boat slips. Water Front single family homes and lots with docks are also available. Fabulous amenities: 2 outdoor pools, indoor pool, fitness center, sauna & tennis courts. Close to the beach, shops, entertainment and Northside Park.

301 14TH ST. • LAGUNA VISTA #207 UNDER CONTRACT IN 30 DAYS!

3BR/3.5BA, 1,909 sq ft w/unique floor plan features.

Wonderful open living areas & top of the line luxury finishes throughout, island counter with seating, all granite countertops in kitchen & bathrooms, crown molding in living areas. Waterfront master suite w/walk-in closet, full bath with double vanities, Jacuzzi tub, marble floors and shower. Each bedroom has its own bathroom.

You'll fall in love with the interior decor, floor plan, deck views & location. Great amenities; indoor pool, fitness center, parking lot security surveillance & 2 elevators.

Located on 14th St overlooking the Harbour Island Marina - home to the White Marlin Open. Just minutes to beach, boardwalk & lots of fun activities. Never rented and exceptionally maintained. Offers great rental income potential for an investment property.

3521 ATLANTIC AVE. UNIT 5 Ocean Beach Front townhouse living at its finest with panoramic ocean views, only steps to sand in your toes and minutes to the OC boardwalk!

Rare opportunity to own a piece of the beach in a beautiful, totally remodeled, turn-key, beach home with no HOA or condo fees. Ideally located 3 bed, 4 bath renovated in 2020 & 2021, top to bottom, inside and out. New furnishings, windows, sliders, vinyl siding, and roof shingles. Oversized, ocean front living room w/huge deck. Ocean front 2nd level master BR w/private deck and new full bath. All BRs have private bath and oversized 3rd bedroom w/sitting area. Entry level foyer, laundry area and full bath opens to huge private beach access and deck on ground level. Ownership is fee simple so offers great opportunity to expand upward or add a room on ground level.

PENDING IN 1 DAY!

Check My Website for New Listings - www.OceanCityMDCondos4Sale.com

OCTOBER 2021

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

OCTOBER 2021

Average home price increases in state Maryland’s August 2021 housing market continued its trajectory in sales figures with average prices rising 8.4 percent in 2021 to $435,798 and median prices rising 10.3 percent to $375,000.

Months of inventory stood at 1.1, matching July 2021, yet down from last year’s figure of 1.8. The number of units sold rose 2.9 percent to 9,740, versus 9,462 in 2020.

“As this market continues to grow, August’s data suggests that it’s easing a little, becoming more friendly for first-time homebuyers,” said Dee Dee Miller, Maryland Realtors President. We’ve watched the 2021 average sale price inching closer to 2020’s figure, from 19 percent in May to 8.4 percent this August, while at the same time witnessing months of inventory move from 0.9 to 1.1.

“With prices rising more slowly, it opens up additional possibilities, whether it’s a first-home purchase,

11001 Manklin Meadows Lane Ocean Pines, MD 21811 410-208-3500

Marlene Ott

second home, or even a move across town.”

The National Association of Realtors (NAR) has witnessed an easing within the market as well across the United States. According to its latest “Weekly Sales Monitor,” housing demand is easing while supply shows signs of improvement, narrowing the demand-supply gap. This has moderated the pace of price appreciation, according to NAR research.

“It’s a promising sign,” said Miller, “and while inventory remains tight with houses on the market for only a week before they’re purchased, there’s more that needs to happen to increase housing opportunity for all in Maryland.”

Figures for Worcester County in August, according to Maryland Realtors were: show a increase in average sale price 22.8 percent over last year, from $350,956 to $418,537.

Median sale price in August was $355,00, up from $300,150 in August 2020.

Buy Now & Enjoy Vacationing Year Round!

Spike Sands

Assoc. Broker, CRS

REALTOR®

Cell: 410-430-5743

Office Direct: 443-235-0489

E-Mail: Marlene@MarleneOtt.com

E-Mail: SpikeSands@gmail.com

www.MarleneOtt.com

DREAMS DO COME TRUE!

INCREDIBLE OPPORTUNITY

NEW LISTING

NEW LISTING

7 Harlan Trace • Ocean Pines

1510 Shad Row • Ocean City

Looking for a waterfront, 1 level custom-built 3BR/2BA with boat dock and lift with quick access to Bay and Ocean? Look no further. Very large open Living and Dining room with tile floors and lots of windows. Gas Fireplace added and TV included. Sun Room/den directly off that with access to large rear deck with gas grill hooked up to central line. Primary bedroom has a primary bath with walk-in closets, shower and separate areas with twin sinks. Laundry room with Bonus/Office room off to one side and pantry closet for additional storage. Large kitchen with great bar seating plus a desk area and pantry. 2 car garage and concrete driveway. 60 ft. long pier with boat lift.

Nice rear yard. Remaining furniture will stay along with 4 TVs and Surround Sound system. Ready for your enjoyment immediately.

Own two detached waterfront homes in the highly desirable, bayside location of Shad Row. Right off 15th street. Property features two separate homes with two boat slips, on one lot. Endless opportunities for large families or income investors. Enjoy bayside waterfront living and get your mortgage paid by renting what you don't use! No HOA. Main home was built in 1996 and is located at the back of the property, with 3,200 sq. ft. and currently set up as two units with 2 beds, 2 baths and a kitchen upstairs. 1 bed, 1 bath and a kitchen downstairs. The 3 bed, 1 bath front house is 1,000 sq. ft. Situated on a large canal with a 10,000 boat lift and dock to tie up your second boat. 2 car garage attached to the main home offers plenty of space to store all of the toys. Walking distance to restaurants, nightlife, world famous boardwalk, beach, the OC Airshow and the White Marlin Open weigh ins. In today's market, this unique and versatile property will not last. New Roof will be installed end of September!!!!!!! $ Be sure to schedule your showing today!

875,000

$

1,095,000

©2021 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire HomesServices and the Berkshire Hathaway HomeServices symbol are registered service marks of the HomeServices of America, Inc.® Equal Housing Opportunity.

OCTOBER 2021

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

PAGE 5

Home sales fall back slightly during August WASHINGTON — Existing-home sales retreated in August, breaking two straight months of increases, according to the National Association of Realtors. Each of the four major U.S. regions experienced declines on both a month-over-month and a year over-year perspective.

Total existing-home sales — completed transactions that include single-family homes, townhomes, condominiums and co-ops — fell 2.0 percent from July to a seasonally adjusted annual rate of 5.88 million in August. Year-over-year, sales dropped 1.5 percent from a year ago (5.97 million in August 2020).

"Sales slipped a bit in August as prices rose nationwide," said Lawrence Yun, NAR's chief economist.

"Although there was a decline in home purchases,

potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory."

Total housing inventory at the end of August totaled 1.29 million units, down 1.5 percent from July's supply and down 13.4 percent from one year ago (1.49 million).

Unsold inventory sits at a 2.6-month supply at the current sales pace, unchanged from July but down from 3.0 months in August 2020.

The median existing-home price for all housing types in August was $356,700, up 14.9 percent from August 2020 ($310,400), as prices increased in each region. This marks 114 straight months of year-overyear gains.

"High home prices make for an unbalanced market,

but prices would normalize with more supply," Yun said.

Properties typically remained on the market for 17 days in August, unchanged from July and down from 22 days in August 2020. Eighty-seven percent of homes sold in August 2021 were on the market for less than a month.

First-time buyers accounted for 29 percent of sales in August, down from 30 percent in July and 33 percent in August 2020. NAR's 2020 Profile of Home Buyers and Sellers – released in late 2020 – revealed that the annual share of first-time buyers was 31 percent.

"Securing a home is still a major challenge for many prospective buyers," said Yun. "A number of potential Continued on page 6

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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

OCTOBER 2021

Buyers hit pause button in their search Continued from page 5 buyers have merely paused their search, but their desire and need for a home remain."

Moreover, a recent study from NAR found that student loan debt is preventing the majority of non-owner millennials and those making over $100,000 from buying a home.

Individual investors or second-home buyers, who account for many cash sales, purchased 15 percent of homes in August, even with July but up from 14 percent in August 2020.

All-cash sales accounted for 22 percent of transactions in August, down from 23 percent in July and up from 18 percent in August 2020.

Distressed sales – foreclosures and short sales – rep-

resented less than 1 percent of sales in August, equal to the percentage seen a month prior and equal to August 2020.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 2.84 percent in August, down from 2.87 percent in July. The average commitment rate across all of 2020 was 3.11 percent.

Single-family and Condo/Co-op Sales Single-family home sales throughout the country decreased to a seasonally adjusted annual rate of 5.19 million in August, down 1.9 percent from 5.29 million in July and down 2.8 percent from one year ago.

The median existing single-family home price was $363,800 in August, up 15.6 percent from August 2020.

Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 690,000 units in August, down 2.8 percent from 710,000 in July but up 9.5 percent from one year ago.

The median existing price for a condominium was $302,800 in August, an annual increase of 10.8 percent.

"We will continue working with federal policymakers and stakeholders from across the industry in an effort to increase housing supply and ensure the American Dream of homeownership remains accessible to as many people as possible," said NAR President Charlie Oppler, a Realtor from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby's International Realty.

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

OCTOBER 2021

PAGE 7

LONG & FOSTER REAL ESTATE, INC. 11701 Coastal Hwy | Ocean City Square Shopping Center | 410-524-1700

WE HAVE BUYERS IF YOU WISH TO SELL GIVE US A CALL TODAY! NEW LISTING • PREMIER OCEAN FRONT BUILDING

12902 ASSAWOMAN DRIVE OCEAN CITY

$835,000 (MDWO114874)

Rarely available lot in prime, sought after location with utilities available. The approximately 50 x 100 lot previously housed a 4 unit building with some ocean views. Steps from the beach & convenient to many goods & services. All information by the county/city.

KAREN RUSSO CELL: 410-262-7320

THE PLAZA UNIT #1410 • OCEAN CITY

$650,000

MARY MCCRACKEN CELL: 410-430-7302

PENDING

NEW LISTING OPEN SAT OCT 2 • 11-2

29637 RIVERSTONE DRIVE MILTON, DE

$419,900 (DESU2004448)

Upgraded 2 level, 3BR/3BA w/2 car attached garage. Enclosed sunroom. 9' ceilings, walk-in storage closet. Office w/french doors, carpet & murphy bed. Upgraded kitchen w/recessed lights, island & breakfast bar, granite countertops, tile backsplash, SS appliances & double sink w/disposal. Family room w/gas fireplace & ceiling fan. Main level master suite w/bath & walk-in closet. Completely finished upper level - large bonus room with carpet, full hall bath with tub shower, ceramic tile surround and vinyl floor & large attic storage room.

KAREN RUSSO CELL: 410-262-7320

• 2 BR/2BA • Panoramic Ocean Views • Beautiful Coastal Design • Oceanfront Master • Great Building Amenities

31954 DOGWOOD WAY • SELBYVILLE, DE

$684,900 (DESU2007026)

Located in the Commons area, this Severn's bright and open living space boasts 2600 sq. ft. with its 4BR/4BA. Front door opens to spacious living room w/vaulted ceiling & sky lights. Hardwood floors throughout living room, dining room, kitchen & sun room. 1st floor owners’ suite. Large dining room. Spacious gourmet kitchen includes island & extra long granite counter w/glass cabinet doors and computer space. Sun room w/fire place off the kitchen; large screened-in porch off the sun room includes an Easy Breeze enclosure recently installed & newly installed shades.

KAREN RUSSO CELL: 410-262-7320

Join Our Team At Long & Foster Ocean City!

Stan Zaremba Branch Manager 410-520-2707 Stan.Zaremba@LNF.com

Please call or email me for a confidential Conversation on joining our team: Interested in a career in real estate? Classes forming now! Visit www.longandfoster.com/careers

PAGE 8

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

GEORGE RINES

JEN NNIFER CRO OPPER --RINES

Lice censed in MD

Cell - (410) 603-6382 george@cropperrines.com

OCTOBER 2021

CrropperRines.com

Licensed in MD Cell - (443) 614-6215 je ennifer@cropperrines.com

th

64 Street | 410--524-6111 | ColdwellBankerHom mes.com

NEW LISTIN NG • A RARE OPPORTUN NITY!

299,900

$

12924 SWORDF FISH DRIVE OCEAN CITY C This property is in a neigh hborhood unique to the Eastern Shore of Maryyland that you just can't find anywhere. Only a few steps away from the commercial harborr,, se eafood markets and restaurants. This could be a project or a complete redo. TThe structure off ffe ers tons of potential potential, with the riight plan you could turn it into o your dream beach gotiate demolition so you can n start with a blank home or the seller will neg canvas. There is public sew werr,, electric service and a well with water quality test results available.

The property information herein is derived from various sources thatt may include, but not limited to, county records and the Multiple Listing Service and d it may include approximations. Although the information is believed to be accurate, it is not warranted and you shhould not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Companny. ©2021 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real R Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker logo, Coldwell Bankeer Previews International and the Previews logo are registered and unreg gistered service marks owned by Coldwell Banker Real Estate LLC. 10771BALT_07//15

Coastal Association Affiliate Members AnnieMac Home Larissa Luck David Bryce Adam Pradon Arrange the Change Sharon Knowles Bayshore Appraisals, Inc Janet Jones Blue Wave Environmental Consulting, LLC Dennis DiCintio Brennan Title Company Theresa Kraft John Brennan Brumbley Appraisal Services Alfred Brumbley Capitol Title Insurance Agency Kathy Burton Maura Burton Pilar Burton William Splitgerber Chesapeake Remodeling Group Mike Davis Coastal Style Magazine Jon Westman Erin Westman Coates, Coates & Coates Thomas Coates W. Hank Fisher

Deeley Insurance Group Laura Bren Jill Gormley Delmarva Appraisals LLC Beverly Wilson Direct Mortgage Loans Julia Keenan Draper & Kramer Mortgage Corp Matthew Patterson Eastern Title and Settlement Josh Greene Elite Valuations, Inc Kathleen Hoffman Stephanie Rinck Embrace Home Loans Jason Cook Sarah Slaysman Fist Shore Federal S & L Susan Vincent Randy Merritt Jr Debra Tingle Gary K. Marshall Insurance Agency David Galeone Gismondi Insurance Assoc Beth Gismondi Greater OC Chamber of Commerce Nancy Schwendeman

Community Settlement Group, LLC Scott Breza

Guaranteed Rate Affinity Paul Soule

Cope Mediation, LLC Peter Copenhaver

Hawkins Electric Jordan MacWha

CTW Real Property Appraisals C Terence Wittstadt

High Tech Home Inspections Scott Donnelly Christopher Lane

D3 Corp John Gehrig DeChant Appraisal & Realty Srv Michael DeChant

House Master Kathy Hoffman Integrity Appraisals Karen Vara

L Turner Appraisals LeRoy Turner

Motto Mortgage Liz Buckley

Legum & Norman ~ an Associa Company Lisa Meck

MSC Homes Inspectors James Howard

Loan Depot Richard Proctor Danielle Caine Justin Kozera

Omni Land Settlement Corp.

Vonny Pilchard

Marr Appraisals Inc Kenneth Marr Elizabeth Filgueras Maryland Department of Housing and Community Development Cecilia Weller Maryland Title Service Helene Parks Richardson Sean Lyons Joseph Raskauskas Chrissy Roberts McLean Mortgage Shawn Hunt Joanna Cherlariu Devon Eastlack Rebecca Harwell Beth Hunt Zach Hunt Aaron Jones Zach King Sam Kotzur Kristine Labert Metro Homes DMV, LLC Carlos Caraballo Mid-Atlantic Settlement Services Susan Lloyd Kelly Green Mortgage Network Hope Morgan Patrick Clark Joan Mulvaney Kaytlyn Senkbeil

Oracle Home Inspection Paul Vaillancourt PrimeLending Rod Flowers Pro-Spect Inspection Services Tia Lipko Jonathan Fourquet-Laboy Tim Harriger Eric Hastings Bradley King Jay Mast Jared Mast Garr Owens Nicholas Strayer RTI - Solutions Stephen Gladwin Salisbury Neighborhood Housing Cheryl Meadows Amanda Smith Shorelock Home Inspections, LLC Jay Aydelotte Superior Appraisal Service Meggin Nicholson Carrie Brown Beth Bittle T & G Builders, Inc Gary James John Rego Vacasa, LLC Sherry Jenkins Wesbanco Laura Vest

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

OCTOBER 2021

PAGE 9

Refinancing can create space in budget Cutting the monthly mortgage bill by $150 or $250 makes difference NEW YORK – Despite record low interest rates, just 19 percent of homeowners with a mortgage that they had prior to the pandemic have refinanced since the start of the outbreak, according to a new Bankrate.com report.

Furthermore, 38 percent of homeowners with a mortgage do not know their current interest rate, making it impossible for them to know if they could benefit from refinancing.

Meanwhile, almost half (47 percent) with pre-pandemic mortgages haven’t even considered refinancing, and more than a quarter (27 percent) have considered refinancing but haven’t done it. Curiously, 7 percent don’t know if they’d refinanced or not.

Of those who haven’t refinanced, 32 percent believe it wouldn’t save them enough money, 27 percent point to high closing costs/fees, 23 percent think there is too much paperwork/hassle, 14 percent plan to move or pay off the loan soon, 12 percent cite credit score issues, 9 percent wouldn’t qualify due to unemployment or reduced income, and 4 percent owe more than their home is worth.

Twelve percent cite some other

issue and 12 percent don’t know the reason.

“The overwhelming majority of mortgage borrowers have not yet refinanced, despite record low rates over the past year,” said Bankrate.com chief financial analyst Greg McBride, CFA. “Cutting the monthly mortgage payment by $150 or $250, possibly more, can create valuable breathing room in the household budget at a time when so many other costs are on the rise.

“The most cited reasons for not refinancing might not hold up in this environment of ultra-low rates. Reducing your payments with no out-ofpocket cash by rolling the costs into the loan are one way to trim the biggest household expense without compromising your savings account.”

For example, a 30-year loan for $300,000 at 4 percent would cost $1,432 per month. Refinancing to 3 percent would cut it to $1,265, reducing the payments by $167 per month or $2,004 per year.

A key to determining if refinancing could offer a money-saving opportunity, 38 percent of homeowners with a mortgage do not know their interest rate, including 54 percent of millennials (ages 25-40).

Of those that do, the median rate being paid is 3.57 percent and the av-

erage is 4.57 percent, both well above current levels that can be refinanced for significant savings.

Forty-six percent of total borrowers have a rate of 3 percent or more, making them likely candidates to refinance at lower rates.

As for what mortgage holders view as good reasons to tap into their home equity via a cash out refinance, home improvements or repairs (60 percent) and debt consolidation (44 percent) are the runaway leaders.

Other reasons cited less often include keeping up with regular household bills (19 percent), paying tuition or other education expenses (19 percent), other investments (16 percent), and vacations and/or big ticket nonessential items like electronics or a boat (10 percent).

Troublingly, 21 percent of millennial borrowers think vacations and/or big ticket non-essential items represent good reasons to tap into home equity In addition, millennials have a higher likelihood of viewing home equity as a way to keep up with household bills (28 percent, compared to 17 percent of Gen X, ages 41-56, and 14 percent of baby boomers, ages 57-75) or to make other investments (26 percent, compared to 17 percent of Gen X and 10 percent of baby boomers).

It isn’t all bad for millennials, however, as 28 percent with pre-pandemic mortgages refinanced during the coronavirus outbreak.

Those with incomes of $50,000 or more are also nearly twice as likely to have refinanced (24 percent) compared to those with household incomes below $50,000 (13 percent).

Racking up wealth with home equity SAN FRANCISCO — With U.S. home prices surging at the fastest pace in four decades, homeowners are sitting on a record $22.7 trillion of home equity, $2.7 trillion of that gained in the last year alone, according to a new study by Unison, the leader in home co-investments.

“We’re seeing an unprecedented bifurcation of the market,” Thomas Sponholtz, CEO and chairman of Unison said. “With incredibly strong demand for homes and housing supply significantly below the historical average, many buyers are paying a premium above the listing price - if they’re able to find homes at all.

Meanwhile, homeowners are participating in one of the biggest wealth-building moments we’ve seen in residential real estate.

Demand is High – Now is the Time to Sell or Rent Your Property

OCEAN PINES 11049 Racetrack Road Ocean Pines, MD 21811 Office: 410-641-5000

Let Us Get TOP DOLLAR for Your Home Sale or Rental

201 E MARKET STREET • SNOW HILL • $949,900 The River House Inn, a Bed & Breakfast on the Pocomoke River in historic downtown Snow Hill. Nationally registered with historical Victorian home w/charm & history offering 2+ acres w/panoramic views of the Pocomoke River. Main house boasts 5 BRs & 5.5 baths in 6,000+ sq. ft. of living space, Pub Room, Dining Room that can be separated into 2 separate eating areas, Large Gourmet Kitchen & Social Room for guests.

Innkeepers quarters include private bedroom, full bath, living room, office & outside deck overlooking pool area. 3 private cottages on the property offering 7 additional rooms for guests. In-ground pool. Well sought-after location is a popular wedding venue w/accommodations for the entire wedding party or weekend getaway. Nature lovers home away from home with just a short drive to Ocean City & Assateague National Seashore.

Bulk-head and deep-water boat dock. Benefits of this property are too lengthy to list. You MUST see it for yourself!

35 HARBORVIEW DRIVE • OCEAN PINES • $999,000

It's all about the view! Remodeled & updated 4BR/2BA w/breathtaking River & OC Skyline Views. Wrap around upper deck w/panoramic views. Formal living room & dining room w/cathedral ceilings. Hardscaped patio & walkways. 2 boat lifts, one 15K lbs and one 10K lbs and 2 Jet ski lifts with 200+/- Ft of Bulkhead with room for all of you your water sports toys.

MLS MDWO2001208

MLS MDWO121678

NEW PRICE

PENDING

NEW PRICE

NEW PRICE

33925 S. WEST STREET PITTSVILLE $179,900 This 10.91 acres is the perfect place to build your dream home! Situated close to the beach and airport you can have the best of both worlds. Live the country life like the locals but be close enough to spend your days on Assateague Island or Ocean City.

MLS MDWC2000856

59 SEAFARER LANE OCEAN PINES • $284,900

Updated and recently painted 4BR/2.5BA. Spacious kitchen w/updated countertops & open living room. Primary BR w/en suite bathroom. Newer washer/dryer & water heater. Finished bonus room w/2 access doors, 1 lead to front porch & other up to back of house. 2 bed/1 bath in-law suite w/own eat-in kitchen, living room, washer/dryer & deck.

MLS MDWO122498

BEAVER POND ESTATES HARRINGTON, DE • $99,500

Quiet neighborhood with a country setting. Over half an acre in desirable community. Situated in back of neighborhood near cul-de-sac. Easy access to downtown Harrington and Milford.

Build your perfect home in this nice community. So come with your plan and check out this beautiful setting. Soil evaluation and survey on file. Septic design to be completed. Price ncludes cost of septic installation.

MLS DEKT247900

11305 MARINA DRIVE BERLIN • $399,000

5930 BOX IRON ROAD GIRDLETREE • $74,900

Located close to boat ramps & Chincoteague Island.

This 4BR/3BA is a great handyman special on 1.0 acre lot! Some repairs have been done to home but still in need of some TLC. MLS MDWO2000080

Direct riverfront 2BR/2.5BA townhome on protected cove on St Martin River w/community dock, pavilion. Boat slips are available for rent & off-season community boat storage.

Completely furnished & includes a canoe! 3 renovated BAs; new HVAC, DuRock Exterior Finish System, oversized garage w/large elevated storage space. MLS MDWO2000122

NOT READY TO SELL? WE’RE SEEKING LONG & SHORT TERM RENTAL HOMES

Let Us Manage Your Property – We Have a List of Qualified Tenant Applicants Just Waiting for Your Home

Rosie Beauclair

Chuck Leo

Veronica Bishop

Mary Burgess

Bryan MacPherson Kelly MacPherson

Jan Castner

Brittani Phillips

Amanda Forsythe

Mike Piasecki

Donna Frankowski

Matt Reed

Ollie Hitchens

John Rego

Kimberly S. Jones

Lisa Rill

Isaiah Johnson

Pam Wadler

Frank Kay

Ron Wesche

Julie Woulfe

PAGE 10

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

OCTOBER 2021

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

OCTOBER 2021

PAGE 11

Real estate tops investment preferences NEW YORK – Real estate and cash investments top the list of Americans’ preferred ways to invest over a period of 10 years or more, according to a Bankrate.com report issued earlier in the summer.

Real estate reassumed the top spot, with 28 percent of Americans pointing to it as their preferred way to invest money not needed for a decade or longer, up from 26 percent last year.

Amid record low interest rates and inflation on the rise, cash investments such as savings accounts or CDs, are a close second, jumping to the highest level since 2014, with 25 percent of Americans citing it, up from 18 percent last year.

For the first time since 2017, the stock market ran a distant third behind real estate and cash, chosen

by just 16 percent, despite topping the list in 2020 with 28 percent of Americans citing it.

“Sentiment on the stock market has seesawed back and forth over the past five years,” said Bankrate.com chief financial analyst, Greg McBride, CFA. The stock market was more popular amongst the highest earning households (22 percent making more than $75,000 vs. 11 percent making less than $30,000) and college graduates (23 percent vs. 9 percent with no more than a high school diploma).

Similar divides appeared in cash investments (30 percent earning less than $75,000 vs. 14 percent earning more than $75,000), and real estate (22 percent each: lowest earning households, those with

no more than a high school diploma vs. 36 percent each: highest earning households; college graduates).

While more than one-third of Americans (35 percent) indicate some level of comfort with investing in cryptocurrencies such as Bitcoin, 61 percent say they are not comfortable.

Finally, inflation does not appear to have much of an impact on how Americans would invest money over a decade or more, with 58 percent indicating that it will not change how they invest.

Millennials (29 percent) had the highest likelihood of saying they would invest more aggressively due to higher inflation, compared to 19 percent of Gen Xers and 14 percent of baby boomers.

LIKE US ON

Neighbors Serving Neighbors - One Home at a Time 410-208-9200 • 800-337-7368 • 11065 Cathell Road, Ocean Pines • 8202 Coastal Highway, Ocean City • 410-723-9450 Licensed in MD, DE

• www.hilemanrealestate.com • e-mail: hilemanre@aol.com LIVE THE COASTAL LIFESTYLE

NEW PRICE

Lynette

Bridges-Catha CRS, PMN, GREEN, SRES Licensed in MD, DE

443-497-3128 Cell Smilin4shore@comcast.net

5BR/5BA in Ellis Point & backs to Holts Landing State Park. Private waterfront community w/gated entrance, health club, pool, private beach & lagoon. Water views from every BR w/covered porch. Pickled HW floors & captains shiplap ceiling.

Custom gourmet kitchen w/stunning granite counter tops, kitchen island, soft close cabinetry, GE Profile and Monogram Stainless appliances. 3rd level master BR w/views of Indian River Bridge. Master BA w/soaking tub, glass enclosed shower, & dual vanity. Elevator & Rannai Tankless on-demand $1,150,000 water heater. Being sold furnished.

NEW PRICE

Lydia Rittersbacher REALTOR 443-366-9177 Cell Lydiarealestate @yahoo.com ®

FIXER UPPER IN PITTSVILLE

Conveniently located 15 minutes from Salisbury & Berlin. Small bungalow on .40 acres with well & septic (reports available). These bargains don't last!

$89,900

Tim

Ulrich Associate Broker 410-422-1441 Cell timrealestate9 @gmail.com

Crockett REALTOR®, GRI 410-430-0587 Cell Cindy@HilemanReal Estate.com

Sonia

Zaffiris Associate Broker GRI, CRS

Licensed in MD, DE

410-251-6217 soniasez@aol.com

4.9 ACRES

3BR/1BA rancher on 4.9 acres w/over 1000 ft of road frontage. Updated w/new windows, vinyl siding, water heater, water softener, 3 sheds & much more. 4.9 acres is cleared w/1000 ft of road frontage with possibility of being subdivided. Surrounded by shade trees w/neighbors only at a distance.

Property gives you room for outbuildings/shops, horses and animals. No city/town taxes, no HOA, no water or sewer bills & plenty of area for Solar. $249,000

Cindy Licensed in MD

NEW PRICE

GOLF AND BAYSIDE LIVING!

With beautiful views of the bay, golf course, and Ocean City skyline, this half acre lot could be the beginning to building your dream vacation home.

Perfectly located in the amazing Lighthouse Sound Community which is only a 5 minute drive away from Ocean City's sandy beaches. Drive through this peaceful community and experience some of the best views in Ocean City. This lot offers not only amazing views but the tranquility of the community cannot be beat. $220,000

BOATER'S DREAM

5BR/4BA on wide deep water canal w/many possibilities. Kitchen w/breakfast bar, appliances, laminate floors & updated dining light. Primary suite w/updated bathroom. Large balcony overlooks both the canal & bay just beyond. 1st floor in-law suite or for additional family members to stay includes sunroom, updated kitchen w/solid surface counters, appliances & breakfast bar. Bead board and laminate floors. 1 car garage. $799,900

NEW LISTING

Terri

Bradford Associate Broker, GRI

Bethany

Drew

Associate Broker, GRI

Licensed in MD, DE

Terri: 410-430-6875 Bethany: 410-430-2602 www.PO2Team.com Powerof2@PO2Team.com

Kevin D.

WELL CARED FOR

3BR/3BA end unit in the sought after active adult 55+ Community of “The Parke” in Ocean Pines w/Ocean Pines & The Parke amenities. Added enclosed Florida/Sunroom on larger lot & extended drive. Yard are bordered by mature woodlands.

Bright & open floor plan w/2nd floor loft, BR & full bath. Natural gas fireplace, hot water, Furnace & range. The Parke's amenities include clubhouse with an indoor pool, whirlpool, sauna, fitness center, and multi-purpose room. Also walking & bike lanes, nature trails, street lighting & much more! $350,000

Heselbach Associate Broker GRI, RSPS

Licensed in MD & DE

301-501-2463 Cell kheselbachHRE @gmail.com

SALE PENDING PINEY ISLAND LOT

Once in a while, a special opportunity comes along like this one, to build a home of your choosing in Worcester County's most Picturesque Community Piney Island! Enjoy activities in nearby Berlin and Bishopville, or visit the Assateague Island National Seashore, or the Beaches and Boardwalk of Ocean City! A 2-level home should offer seasonal $114,900 water views from this gorgeous .56 acre lot.

SOLD IN 1 DAY! OCEAN PINES RANCHER WITH GARAGE

Bright & sunny open living area in this popular split bedroom plan. Lots of cabinet space in the kitchen with breakfast nook. Separate formal dining area. Private screened porch with ceiling fan, storage shed.

Encapsulated crawl space with de-humidifier. $279,900

ONE OF A KIND! Rare opportunity to own a Riverfront Island Home on 3.6 Acres with private bridge access. Spacious 4 Bedroom, 4.5 Bath home with nearly 4000 sq.ft.

Enter into an impressive 2 story Great Room with 6 skylights. Each Bedroom has its own bath. Natural Shoreline includes a private boat dock with boat lift & 2 jet ski lifts.

$1,950,000

Debora E.

Hileman

OWNER/BROKER GRI & CRS Licensed in MD, DE

443-235-5982 Cell Debbie@Hileman RealEstate.com

REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY

PAGE 12

JAMIE CAINE

Associate Broker

410-726-0725 | 410-723-8520 | JamieCOCMD@gmail.com

Search All Active Listings At: www.jamiecaine.com

LIST with a

OCTOBER 2021

12207 D Coastal Highway Ocean City, MD 21842 410-524-1203

LEADER

Knowledge • Experience • Dedication

• Long History of Selling Ocean City • Handled over 97 Transactions in 2020 • Personalized Hands-On Service

LIST With Me To Get

Your Property SOLD!

11329 MARINA DRIVE • BERLIN NEW LISTING

• 4BR/3BA, 2 Car Garage • River & Sunset Views • Mutable Boat Docks, 1 with 16K Boat Lift • Sandy Waterfront Beach • Updated Kitchen with Granite Counter Tops • Updated Master w/Private Waterfront Balcony, Master Bath & Large Closet • Community Pool & Dry Boat Parking for Small Fee

$1,149,999

5305 ATLANTIC AVE #7 • OCEAN CITY NEW LISTING

• Direct Ocean Front • Updated 4BR/2.5BA Townhouse • Mid Town OC Location • Ocean Front & Bayside Balconies • Granite Kitchen Counter Tops • 2 car plus parking

$1,150,000 4201 ATLANTIC AVENUE • OCEAN CITY NEW PRICE

13027 OLD BRIDGE ROAD • WOC

7731 ATLANTIC AVENUE • OCEAN CITY

NEW LISTING

NEW LISTING

• 10BR/7BA • Custom Built • Beach front paradise • Gourmet Kitchen • 3 New Gas Furnaces • 2 New Gas HW Heaters

$2,999,999 13502 FIESTA RD • OCEAN CITY NEW PRICE

• 4BR, 4 Full BA, 2 Half BAs • Ocean City Skyline views • Custom design & decor • One of the finest properties in West Ocean City

$2,499,000

13 69TH STREET #202 • OCEAN CITY

11 81ST STREET #103 • OCEAN CITY

NEW LISTING

NEW PRICE

• • • •

• 3BR/2BA • Florida Room • Located in Caine Woods • Corner Lot with Fenced Front Yard

• Updated HVAC & Roof • Located close to Caine Woods Parks, beaches & Restaurants

$379,999

• Clean 1BR/1BA • Ocean Block • 2nd Unit from East End of Building • Mid Town Location • Parking Behind Buiding

• • • • •

$239,990

3BR/2.5BA Ocean Side Close to beach Mid town OC Location 2 Private Balconies East West Exposure Open floor plan Non rental 2 Covered Assigned Parking Spaces

$489,900

• Direct Ocean Front • 4BR/2Full Baths/2 Half Baths • 3 Oceanfront Decks • Private Sun Deck w/Storage Closets

• Renovated Kitchen & Baths • NO Condo or HOA fees

$999,999

LOT 9 - SEA BISCUIT ROAD • SNOW HILL

• Estate size lot • Quiet & quaint • Near Chincoteague Bay

• Bay views • Close to Public Landing

$69,990

The property information herein is derived from various sources that may include, but not limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Realty are independent contractor agents and are not employees of the Company. ©2021 Coldwell Banker Realty LLC. All Rights Reserved. Coldwell Banker Realty LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Previews International and the Previews logo are registered service marks owned by Coldwell Banker Realty LLC. 07/15