01.25.13

Page 1

NO CHARGE: The inlet parking

DOMINATION: That’s what Stephen

lot will see a new parking fee payment system, but there won’t be any charging facilities for electric cars PAGE 4A

Decatur’s wrestling team has been practicing as it pins convincing losses on another two conference rivals PAGE 25A

INSIDE THIS ISSUE: BUSINESS . . . . . . . . . . 38A CLASSIFIED . . . . . . . . . 23A ENTERTAINMENT . . . . . . 5B LEGALS . . . . . . . . . . . . 31A

LIFESTYLE . . . . . . . . . . . 1B OPINION . . . . . . . . . . . 16A OUT&ABOUT . . . . . . . . 13B SPORTS . . . . . . . . . . . . 25A

NOEL LAUNCHES ITS 11TH ANNUAL HOLIDAY GLOVES DRIVE…PAGE 1B

Ocean City Today WWW.OCEANCITYTODAY.NET

JANUARY 25, 2013

OC COUNCIL INKS MEMO WITH BIKEFEST IN HOPES OF TRAFFIC REDUCTION

FREE

NOW THAT’S MORE LIKE IT!

Music to be consolidated at OC convention center venue while inlet admission offers free bus service ZACK HOOPES ■ Staff Writer (Jan. 25, 2012) On the condition of a few measures to mitigate what has become an annual traffic problem, the City Council this week approved a memorandum of understanding with the OC BikeFest, which will return to the resort next Sept 12-15. The council’s decision was made, apparently, in a closed-door meeting and announced publicly in the council’s open session on Tuesday. The terms of the memorandum were not discussed. “They [council] have always been concerned about the crowds and the noise, because, naturally, they have to look out for the residents,” said festival organizer Cliff Sutherland.

Kyle Ives grabs money from spectators watching him and his brother, Cody, ride the Wall of Death during the second annual OC BikeFest in September. PHOTO COURTESY LAURA POWELL

“But I believe what’s happened, after having a solid two-year track record, is that the city’s feeling more comfortable about our management of the event … as well as recognizing the economic impact.”

About 1 inch to 1.5 inches of snow fell in Ocean City late Wednesday night, leaving a light blanket on the rocks at the inlet jetty Thursday morning. Though there wasn’t much accumulation, the brief snowfall was much more significant than Mother Nature’s attempt last week. The forecast for today, Friday, calls for 1 to 3 inches of snow in the area beginning after 3 p.m. this afternoon and tapering off later tonight, according to the National Weather Service. Slighty higher accumulations are forecast for Wicomico County.

See OC BIKEFEST on Page 10A

December real estate numbers hint at ‘new normal’for resort market ZACK HOOPES ■ Staff Writer (Jan. 24, 2012) The real estate market in the region – and nationwide – is starting to show signs of increased vitality and some sort of equilibrium, according to end-of-the-year data. But local Realtors say it is not yet clear what exactly the “new normal” for the resort area will be. “I truly believe that we’re on our way up,” said Pam Wadler, president of the Coastal Associ-

ation of Realtors. “We’re bouncing back, but it’s going to take time, and I don’t think we’ll ever be back to where we were in 2004 or 2005.”

The new paradigm for the realty business – as opposed to the pre-2008 market environment – is not to see sale prices rise. Instead, 2012 has seen a

gradual decrease in how much the average home actually brings in at closing. But what has risen is the volume of homes sold, which has corre-

spondingly decreased the volume of unsold inventory currently on the market. The inventory of condo units in the county has, according to CAR’s December report, decreased by 25.5 percent. At the same time, the number of homes under contract has increased 17.6 percent since the same time in 2011. And the total number of settlements for the year is up 12.8 percent. As expected, the same trend is evident in single-family See SALES on Page 10A


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01.25.13 by OC Today-Dispatch - Issuu