REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
PAGE 2
Real Estate
AUGUST 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 Assistant Publisher........................................................... Elaine Brady Account Managers ......................................... Mary Cooper, Vicki Shrier Classifieds/Legals/Production Manager .................... Nancy MacCubbin Senior Designer .............................................................. Susan Parks Graphic Artist ................................................................... Kelly Brown Publisher..................................................................... Christine Brown Admin. Assistant................................................................... Gini Tufts
Nanette Pavier/Holiday Real Estate ...............................Page 2 Northrop Realty...............................................................Page 3 Shamrock Realty Group .................................................Page 4 Katherine Wright Payne/Coastal Life Realty..................Page 5 CAR Affiliates ..................................................................Page 6 Berkshire Hathaway PenFed Realty................................Page 7 Maryland Title Service ....................................................Page 8 George Rines/Coldwell Banker Realty............................Page 9 Jennifer Cropper-Rines/Coldwell Banker Realty...........Page 9 Mary McCracken/Long & Foster/Ocean City .................Page 9 Coastal Association of Realtors .....................................Page 10 Hileman Real Estate.......................................................Page 11 Jamie Caine/Coldwell Banker Realty............................Page 12
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. 335 SCHOONER LN. UNIT 304 BERLIN
E ACTIV R E UNDRACT CONT
212 N HERON DR. UNIT 4 OCEAN CITY
64 BOSTON DR. OCEAN PINES
2 E CANNON ST. UNIT 2 FENWICK ISLAND DE
214 N HERON DR. UNIT 1 OCEAN CITY
301 14TH ST. UNIT 404 OCEAN CITY
301 14TH ST. UNIT 406 OCEAN CITY
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
$647,500
$635,000
$620,000
$610,000
$550,000
$550,000
10900 HOLYSTONE LN UNIT 301 BERLIN
25 W MALLARD DR OCEAN PINES
13038 N SHORE RD OCEAN CITY
50 SUNSET ISLAND DR OCEAN CITY
203 S HERON DR. UNIT 301C OCEAN CITY
206 N HERON DR. UNIT 9 OCEAN CITY
201 S HERON DR. UNIT 15B OCEAN CITY
ING PEND
SOLD
SOLD
SOLD
SOLD
SOLD
SOLD
$1,300,000
$1,100,000
$750,000
$380,000
Check My Website for New Listings - www.OceanCityMDCondos4Sale.com
$370,500
$365,000
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
AUGUST 2021
PAGE 3
Direct: 443.230.5043 | Office: 443.837.7455 | NorthropRealty.com
BETHANY BEACH
ANNAPOLIS
MILLSBORO
BETHANY BEACH
$5,900,000 39713 Windswept Way
WATERFRONT $3,995,000 2920 Southwater Point Drive
$2,400,000 27642 Sterling Blvd
WATERFRONT $2,250,000 12 S Shore Drive
FRANKFORD
MILLSBORO
MILLSBORO
MILLSBORO
$1,750,000 34251 Chirping Birds Lane
$1,500,000 33457 Islander Drive
$1,300,000 33430 Islander Drive
$1,250,000 33197 Mariners Avenue
MILLSBORO
DAGSBORO
MILLSBORO
BETHANY BEACH
WATERFRONT
$1,250,000 33448 Marina Bay Circle
$1,200,000 121 Riverview Drive
$1,190,000 24537 Wave Maker Drive
$1,100,000 39631 Water Works Court
OCEAN CITY
ARNOLD
FRANKFORD
OCEAN CITY
WATERFRONT
WATERFRONT
$995,000 603 Penguin Drive #59
$974,000 370 Sherman Avenue
$799,000 36219 Little Creek Lane
$625,000 11727 Winding Creek Drive
GEORGETOWN
FRANKFORD
OCEAN CITY
OCEAN CITY
WATERFRONT
$449,000 22608 Lawson Road
$429,000 36210 Tee Box Blvd #197
$340,000 11604 Coastal Hwy #307
$310,000 901 Philadelphia Avenue #101
GEORGETOWN
ELLENDALE
HARRINGTON
OCEAN CITY
$300,000 20998 Emory Walls Road
$315,000 16444 Victory Lane
$249,900 112 Grant Street
$200,000 504 Robin Drive #70
Visit northroprealty.com/coastallistings to view more homes.
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
PAGE 4
AUGUST 2021
Existing home sales increase, inventory still critically low Cash transactions climbing as prices rise, while rates on mortgages remain low
one year ago (1.54 million). Unsold inventory sits at a 2.6-month supply at the current sales pace, modestly up from May’s 2.5-month supply but down from 3.9 months in June 2020. The median existing-home price for all housing types in June was $363,300, up 23.4 percent from June 2020 ($294,400), as every region recorded price jumps. This marks 112 straight months of year-over-year gains. “At a broad level, home prices are in no danger of a decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the end of the year,” Yun said. “Ideally, the costs for a home would rise roughly in line with income growth, which is likely to happen in 2022 as more listings and new construction become available.” Properties typically remained on the market for 17 days in June, unchanged from May and down from 24 days in June 2020. Eighty-nine percent of homes sold in June 2021 were on the market for less than a month. First-time buyers accounted for 31 percent of sales in June, also even with May but down from 35 percent in June 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.
WASHINGTON – Existing-home sales increased in June, snapping four consecutive months of declines, according to the National Association of Realtors. Three of the four major U.S. regions registered small monthover-month gains, while the fourth remained flat. However, all four areas notched double-digit year-over-year gains. Total existing-home sales —completed transactions that include single-family homes, townhomes, condominiums and co-ops — grew 1.4 percent from May to a seasonally adjusted annual rate of 5.86 million in June. Sales climbed year-overyear, up 22.9 percent from a year ago (4.77 million in June 2020). “Supply has modestly improved in recent months due to more housing starts and existing homeowners listing their homes, all of which has resulted in an uptick in sales,” said Lawrence Yun, NAR’s chief economist. “Home sales continue to run at a pace above the rate seen before the pandemic.” Total housing inventory at the end of June amounted to 1.25 million units, up 3.3 percent from May’s inventory and down 18.8 percent from
Individual investors or secondhome buyers, who account for many cash sales, purchased 14 percent of homes in June, down from 17 percent in May and up from 9 percent in June 2020. All-cash sales accounted for 23 percent of transactions in June, even with May and up from 16 percent in June 2020. Distressed sales – foreclosures and short sales – represented less than 1 percent of sales in June, equal to May’s percentage but down from 3 percent in June 2020. “Huge wealth gains from both housing equity and the stock market have nudged up all-cash transactions, but first-time buyers who need mortgage financing are being uniquely challenged with record-high home prices and low inventory,” Yun explained. “Although rates are favorably low, these hurdles have been overwhelming to some potential buyers.” According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 2.98 percent in June, slightly up from 2.96 percent in May. The average commitment rate across all of 2020 was 3.11 percent. Single-family home sales decreased to a seasonally adjusted annual rate of 5.14 million in June, up 1.4 percent from 5.07 million in May
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
www.shamrockrealty.com
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! MLS MDWO121678
NEW LISTING
and up 19.3 percent from one year ago. The median existing single-family home price was $370,600 in June, up 24.4 percent from June 2020. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 720,000 units in June, up from 710,000 in May and up 56.5 percent from one year ago. The median existing condo price was $311,600 in June, an annual increase of 19.1 percent. “NAR continues our conversations with policymakers and leaders from across the industry in an effort to boost housing inventory and increase access to safe, affordable housing for all Americans,” said NAR President Charlie Oppler, a Realtor from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby’s International Realty. “As the nation’s economy continues to recover from COVID-19, securing policies that are in the best interest of U.S. consumers and homeowners remains NAR’s priority.” Regional Breakdown Existing-home sales in the Northeast increased 2.8 percent in June, recording an annual rate of 740,000, a 45.1 percent rise from a year ago. The median price in the Northeast was $412,800, up 23.6 percent from June 2020. Continued on page 6
NEW LISTING
84 WOOD DUCK DRIVE OCEAN PINES • $885,000
Partially furnished elevated 4BR/2BA, 2-car garage waterfront home built for view. In culde-sac w/water views from all bedrooms, 2nd floor living area, kitchen, separate dining room. OC skyline views. Remodeled Kitchen w/granite counters, cabinets, microwave, stove & dishwasher. 25 ft. pier w/boat lift, personal craft davit &d 125 ft. of bulkhead. 2 waterfront decks. 2 gas fireplaces. 2 attached storage sheds. Pull down stairs to floored attic, separate garage access. Separate ductless unit for family/media room. Home is being MLS MDWO2000308 MLS MDWO2000122 sold "As IS"
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.
BEAVER POND ESTATES HARRINGTON, DE $99,500
128 CAPTAINS QUARTERS RD #103 OCEAN CITY $389,900
11305 MARINA DRIVE • BERLIN $429,000
NEW PRICE
NEW PRICE
NEW LISTING
5930 BOX IRON ROAD GIRDLETREE • $92,900
53 WHITE HORSE DRIVE OCEAN PINES • $289,000
Quiet neighborhood with a country
setting. Over half an acre in desirable 2BR/2BA. 2 Blocks to beach & ½ block to park. Easy walk to community. Situated in back of Original Green Turtle & shopping. neighborhood near cul-de-sac. Easy Watch fireworks from Northside access to downtown Harrington and park. Wide pier w/deeded boat slip. Milford. Build your perfect home in this Completely renovated w/no room untouched. Crown molding throughout, 3 hard wired smoke alarms, ceiling fan, flat screen TVs & sliding nice community. So come with your plan door to deck facing canal. Attached master bath, tiled shower & floor and check out this beautiful setting. Soil evaluation and survey on file. and vanity. Main BA with tiled tub & new fixtures. Kitchen w/soft close cabinets, island & pantry. SS appliances. LOW LOW CONDO DUES! Septic design to be completed. Price ncludes cost of septic installation. MLS MDWO2000616 MLS DEK247900
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
3BR/2BA backs to Somerset Park. Oversized 2 car garage. Newer kitchen. 2 skylights & wall unit gas heater.
LISTINGS ARE LOW AND WE HAVE PLENTY OF BUYERS LOOKING If you are thinking of selling Don’t let this opportunity pass you by – Call Us Today!
MLS MDWO2000726
WELCOME WHITE MARLIN ANGLERS! 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
Paul Freed
Donna Frankowski
Ollie Hitchens
Kimberly S. Jones
Isaiah Johnson
Frank Kay
Traci Kerrigan
Mike Piasecki
Matt Reed
John Rego
Lisa Rill
Lauren Smith
Pam Wadler
Ron Wesche
Julie Woulfe
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
AUGUST 2021
KATHERINE G WRIGHT PAYNE GRI, REALTOR ®
PAGE 5
7501 Coastal Hwy. • Ocean City, MD 443-552-7579
Cell: 410-726-7808 410-726-7808 • Email: katherinegwright@aol.com Cell:
www.coastallifeoc.com
Your Heron Harbour Isle Specialist with Over 80 Million Dollars in Community Sales!
10139 QUEENS CRL • FOX CHAPEL • WEST OC
10468 GOLF COURSE • WEST OC NEWING LIST
Beautiful 3 BR/2.5 BA with sunny 1st flr Master BR with two walk-in closets, upgraded en-suite with large tiled shower and Whirlpool soaking tub; Living Room; Formal Dining Room and Family Room with wood burning fireplace and two sets of French doors overlooking backyard, Gourmet Kitchen, with granite countertops, Sub-Zero double door refrigerator, Wolf 4 burner gas stove with 2 grilling plates and a gorgeous imported stone hood, double ovens and a nifty plate/bun warmer, and small bar with a great little U-Line wine cooler, oversized island with a vegetable sink and extra Sub Zero 2 drawer refrigeration. Powder room, large laundry room and built-in office area with Kraft Maid cherry cabinets. 2nd floor includes two Guest Bedrooms, full BA, and a floored attic for lots of storage. Flooring in home combines bamboo, tile and wall to wall carpeting in bedrooms, along with beautiful crown molding throughout. Outside has large Trex deck, extensive landscaping, gardens and front and back lawn irrigation. Lots of beautiful, mature trees, including two Magnolias, and lovely brick walkways. Tool or flower shed, two-car garage with carriage house style doors, and Hague water conditioning system. Ideally located, close to marinas, gourmet and family restaurants, schools and shopping. Beach and boards are just minutes away. $619,000 This property won't last!
Located on the Thorofare/Assawoman Bay in the community of Captain's Hill, on over an acre of land with views of bay & OC skyline. House & Guest house offer 270° water views from every window. Watch the beautiful sunrises & sunsets from the large decks, one of which completely wraps around the entire 2nd floor. 4BR/3.5BA. Great Room w/wood burning fireplace; formal Dining Room w/tray ceiling & French doors, Family Room w/gas fireplace & additional deck, Gym. Gourmet Kitchen w/top of the line appliances, large Pantry, Laundry Room & hurricane shutters. Granite counters, vanity tops, bamboo & marble floors, crown moulding, chair rail, 9 ft ceilings, Lutron lighting. Eevator with a cherry, raised panel interior, sprinkler system, and over-sized windows and sliders. OC Proper just minutes away by boat, bike or car. 20 minutes away from Assateague Island. There are world class marinas nearby, as well as fabulous restaurants, shopping, doctor's offices, schools, etc. There is an abundance of incredible waterfowl, including Great Blue Herons, Snowy Egrets, ducks, geese, and regularly seen pods of Seals racing through the Thorofare that add to the enjoyment and peaceful tranquility this property offers. Chart your own course...set your own sails...relax and enjoy one of Ocean City's premier properties! Listed by Owner/Agent.
3 WHITE CRANE DR BAY VISTA 1 / MYSTIC HARBOR
12601 BAY BOUY CT. WEST OCEAN CITY
Adorable 3BR/2BA home located in the quiet neighborhood of Bay Vista 1 at Mystic Harbor. With lovely landscaping and a fenced back yard, this property is just minutes to Ocean City proper and Assateague Island. Enjoy the convenience of being in close proximity to outlet shopping, great restaurants and world class marinas. Membership to Mystic Harbor Association is available, offering family pool, tennis courts and play area. Home features a gas fireplace in the Living Room, Silestone kitchen countertops, one car garage, $310,000 hardwood flooring, Sun Room and front, side and rear decks. HVAC system replaced 5 years ago, hot water heater 1 year ago.
Beautiful 4 BR/2.5 BA home in desirable West Ocean City, MD. Great layout, large Family Room with gas fireplace, Living Room, Dining area, gorgeous, gourmet eatin Kitchen, Utility room and 2 car Garage. Beach scene in Foyer was hand-painted by local artist. Some furnishings and decorative pieces and window treatments convey. Coretex, ceramic tile flooring with wall to wall carpeting in bedrooms. Outside has a concrete patio with 16' retractable awning. West Harbor Village community pool, play area, and grass utting included in the HOA. Near restaurants, shopping, marinas $505,000 and schools, and beaches.
PE
G N I ND
$3,999,000
S
! D OL
13201 WIGHT ST. 605A01 OCEAN CITY
9 90TH ST. OCEAN CITY
Camelot A is a beautiful boutique style condominium overlooking the Ocean. Located in quiet North OC. Completely remodeled down to the studs. Just under 1,300 sq. ft., 2BRs/2BAs; tasteful wainscotting; dream kitchen with granite counters and SS appliances; combination living and dining room. Large deck with direct expansive views of the ocean, w/hurricane shutters. Outdoor pool along with a tennis court. Close to shops and dining. Great rental income, or enjoy exclusively. Escape from life as usual, where you can truly unwind in the $625,000 laid-back beach lifestyle!
Ocean Side beach condo has it all: Views, Space and Style! Largest in building with over 1400 square feet. Beach theme throughout with open floor plan. Electric fireplace, extra-large living room, dining room with a large table, and kitchen with a breakfast bar great for entertaining. Enjoy views of the ocean and bay from your oversized balcony accessible from living room and master bedroom. The Master has King Size bed, walk-in closet and private bath. Both guest bedrooms are beautifully furnished, and one has built-in trundle bed. Owner's storage closet, pool and great mid-town location. No other unit in the building compares to #205. Do not miss this opportunity to own this lovely condo and enjoy all that Ocean City has to offer.
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$440,000
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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
Existing home sales increase
AUGUST 2021
Housing market shows strong growth in June
Continued on page 4 Existing-home sales in the Midwest rose 3.1 percent to an annual rate of 1,330,000 in June, an 18.8 percent increase from a year ago. The median price in the Midwest was $278,700, an 18.5 percent increase from June 2020. Existing-home sales in the South were unchanged from May, posting an annual rate of 2,590,000 in June, up 19.4 percent from the same time one year ago. The median price in the South was $311,600, a 21.4 percent climb from one year ago. Existing-home sales in the West rose 1.7 percent, registering an annual rate of 1,200,000 in June, a 23.7 percent jump from a year ago. The median price in the West was $507,000, up 17.6 percent from June 2020.
Maryland’s June 2021 housing market continued its robust growth with home sales reaching 10,790, an increase of 24.2 percent over the previous year’s sales of 8,686. Average sales price rose 17.4 percent to $443,764 over last year’s figure of $376,990. The median sales price of $375,000 grew 13.6 percent from $330,000 in June 2020. While median days on market continues to hover at 6 days compared to June 2020’s figure of 14 days, months of inventory continues to grow—ever so slightly—to one month, which signals slight growth since April 2021, when it was as 0.8. In June 2020, months of inventory was at 2.2. Feeding this increase in has been an increase in the number of new listings, 12,668 (In June 2020, it stood at 10,284), which has been growing since March 2021. “Though we’re not out of the woods yet with the lack of inventory, we’re seeing signals that indicate it may be easing up,” said Dee Dee Miller, 2021 president, Maryland Realtors. “The number of new listings has been growing and so too has active inventory, which has been increasing monthto-month since April 2021. At least part of the explanation for this is some frustrated buyers leaving the market because of increased competition or being priced out.”
Source: Maryland Association of Realtors
Coastal Association Affiliate Members Arrange the Change Sharon Knowles
Deeley Insurance Group Laura Bren
Marr Appraisals, Inc Kenneth Marr
Omni Land Settlement Corp Vonny Pilchard
Bay Capital Mortgage Richard Proctor
Delmarva Appraisals, LLC Beverly Wilson
Oracle Home Inspection Paul Vaillancourt
Bayshore Appraisals, Inc Janet Jones
Draper & Kramer Mortgage Corp Matthew Patterson
Maryland Department of Housing and Community Development Cecilia Weller Terry Catalano
Brennan Title Company Peter McGough John Brennan Brumbly Appraisal Services Inc. Alfred Brumbley Capitol Title Insurance Agency Kathy Burton Maura Burton Pilar Burton Chesapeake Remodeling Group Mike Davis Coastal Style Magazine Jon Westman Coates, Coates & Coates Thomas Coates W. Hank Fisher Community Settlement Group, LLC Scott Breza
Eastern Title and Settlement Josh Greene Elite Valuations, Inc Kathleen Hoffman Embrace Home Loans Jason Cook Gary K. Marshall Insurance Agency David Galeone Gismondi Insurance Assoc Beth Gismondi Greater OC Chamber of Commerce Nancy Schwendeman Guaranteed Rate Affinity Paul Soule Hometown Inspections LLC Robert Davis Emily Davis House Master Kathy Hoffman
Maryland Title Service Helene Parks Richardson Joseph Raskauskas Chrissy Roberts April Taylor McLean Mortgage Shawn Hunt Joanna Cherlariu Devon Eastlack Rebecca Harwell Beth Hunt Zack Hunt Aaron Jones Zach King Sam Kotzur Kristine Labert Metro Homes DMV, LLC Carlos Caraballo Mid-Atlantic Settlement Services Susan Lloyd Kelly Green
PrimeLending Rod Flowers Pro-Spect Inspection Services Tia Lipko Brooke Alicea Jonathan Fourquet-Laboy Tim Harriger Eric Hastings Bradley King Edgar Martinez Jay Mast Garr Owens Jacob Stanley Nicholas Strayer Josh Rose Salisbury Neighborhood Housing Amanda Smith Leah Dyson Shorelock Home Inspections, LLC Jay Aydelotte Superior Appraisal Service Meggin Nicholson Carrie Brown
Cope Mediation, LLC Peter Copenhaver
Integrity Appraisals Karen Vara
Mortgage Network Hope Morgan Patrick Clark Kaytlyn Senkbeil
CTW Real Property Appraisals C Terence Wittstadt
L Turner Appraisals LeRoy Turner
MottoMortgage Liz Buckley
Vacasa, LLC Sherry Jenkins
D3 Corp John Gehrig
Legum & Norman ~ an Associa Company Lisa Meck
MSC Home Inspectors James Howard
Wesbanco Laura Vest
T & G Builders Gary L. James John Rego
AUGUST 2021
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
PAGE 7
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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
AUGUST 2021
Industry, government experts discuss U.S. housing shortage WASHINGTON – A top official from the U.S. Department of Housing and Urban Development joined policy experts from the National Association of Realtors in July to discuss solutions for the nation’s historic housing supply shortage. The virtual policy forum went in depth on research commissioned by NAR and authored by the Rosen Consulting Group, which found that the U.S. is in the midst of an “underbuilding gap” of around 6 million housing units dating back to 2001. The report, Housing is Critical Infrastructure, has taken center stage in national conversations on housing policy, particularly after President Joe Biden reiterated his administration’s focus on housing as part of its broader infrastructure push. “The U.S. housing shortage is … the result of more than a decade of severe underbuilding and underinvestment,” NAR President Charlie Oppler said. “Reaching the necessary volume will require a major, long-term national commitment … [and] building all types of new housing must be an integral part of any national infrastructure plan. Like roads and bridges … housing is an essential long-term asset that helps families climb the economic ladder to pros-
perity, brings folks closer to job opportunities, and generates tax revenue that supports community residents.” Biden is aiming for what he called a “historic investment” in housing that would generate 2 million additional homes in the U.S. through construction and rehabilitation. RCG Senior Vice President and former HUD economist David Bank focused on the connection between the NAR report he co-authored and the president’s infrastructure ambitions in his remarks during the discussion. “Critical infrastructure … refers to the physical assets and the systems that we need to keep our country and our communities safe and vibrant,” said Bank. “In that respect, it’s hard to think of a physical asset that’s more critical to our success and the vibrancy of our communities than access to decent, safe and affordable housing.” HUD’s Senior Advisor Alanna McCargo joined Bryan Greene, NAR’s vice president of policy advocacy, to discuss strategies the administration is considering to boost housing supply. As NAR has also continued to do, McCargo stressed that a broad number of approaches and policies will be needed to rectify a problem that has
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
AUGUST 2021
. . . not really any silver bullets been decades in the making. “There are not really any silver bullets,” said McCargo, who joined HUD this year after serving as vice president of the Urban Institute’s Housing Finance Policy Center. McCargo said the administration will take “a serious look at how we accelerate renovation and rehabilitation construction projects.” She highlighted the importance of
working on the local level to reform zoning and land use policies and also noted that the rising costs of construction must be addressed. “Getting on track on an … aggressive renovation and rehab process, and also building resiliency and energy efficiency into that for the future, are going to be really key approaches” that the administration is prioritizing.
PAGE 9
GEORGE RINES
JEN NNIFER CRO OPPER --RINES
Lice censed in MD
Cell - (410) 603-6382 george@cropperrines.com
CrropperRines.com
Licensed in MD Cell - (443) 614-6215 je ennifer@cropperrines.com
th
64 Street | 410--524-6111 | ColdwellBankerHom mes.com
GLEN N RIDDLE TOWNHOME
Pandemic led to big increase in home improvement projects Covid-19 continues to reshape our lives, changing our daily routines and mandating precautionary measures that involve staying in our homes as often as we can. With people spending more time at home than ever before, home improvement projects are increasingly becoming top of mind for homeowners. “Remodeling home projects take time and patience, and Realtors and homeowners alike recognize the feelings of accomplishment, satisfaction and potentially higher home values that come with it. During this pandemic, homeownership is invaluable, and we know that your home means everything to you – from protection, to safety, to comfort – so we’re seeing
people across our region dedicating themselves to improving their homes,” said [Last name of your local spokesperson]. Below are some facts about home renovations during the pandemic, according to a survey by the National Association of Realtors (NAR): Despite the financial difficulties brought on by the pandemic, 77 percent of homeowners say their home renovation budget for 2020 is the same or greater than last year. The top three home renovations that homeowners hoped to complete within their budgets in 2020 were: A new bathroom (28 percent); a new kitchen (23 percent); and fencing in their yards (21 percent).
409 000 409,000
$
Spacious, bright and open 3 bedroom, 3 1/2 bath with garage is a must see. Nicely situated s location backing to green space and woods. Sliding glass door added on first level to give access to outdoo or space. First level off ffeers full bath and makes for great guest g space or den. Nicely finished kitchen with granitte counters, very functional island, double ovens and big pantry. Wood flooring throughout main level living space. Dining area shares 2-sided gas fireplace with sunroom s which opens to a balcony. y Gracious p primaryy su uite with sitting g area,, walk in closet and bath with garden tub and shower. Beautifully maintained Glen Riddle community has many amenities: fitness centerr,, outdoor pool and tennis. Close to Ocean City and Berlin, restaurants and a shopping. 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
#1 LISTING AGENT IN 2019! Realtor®
Licensed in MD & DE
Cell:
410-430-7302 • Office: 410-524-1700 • Mary@MaryMcCracken.com 11701 Coastal Hwy • Ocean City MD
Looking To Buy On The Eastern Shore, Go To www.MaryMcCracken.com NEW LISTING
NEW LISTING
QUAY UNIT #307 • • • • • •
Massive 3 Bed – 2 Bath Over 1500 Sq. Feet Great 3rd Floor Location Tons of Updates Renovated Kitchen Enjoy Great Quay Amenities $
600,000
QUAY UNIT #1603 • • • • • •
2 Bed- 2 Bath Ocean & Bay Views Large Balcony Updated Baths Non-Rental Extensive Building Amenities $
(MDWO122232)
PLAZA UNIT #613 OCEAN CITY • • • • • •
3 Bed- 2 Bath – 1600+ SF Oceanfront Balcony Open Floor Plan BR with Bayside Balcony/Patio Enjoy all Plaza Amenities $51K in 2021 Summer Rentals $
895,000
(MDWO122956)
435,000
(MDWO2000610)
203 S HERON DRIVE HERON HARBOR • • • • • •
1St Floor 3Bed – 2 Bath Deeded Boat slip 23ft Aqua Patio Boat Conveys Renovated Kitchen New Coastal Furnishings Enjoy All Community Amenities $
525,000
(MDWO1200094)
PAGE 10
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
AUGUST 2021
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
AUGUST 2021
PAGE 11
Upfront underwriting helps to compete against cash offers Homebuyers are doing all kinds of things to make their offers stand out in this supply-starved market, from removing contingencies to bidding way over the asking price. One tried-and-true technique for making a competitive offer on a house remains popular as well, and that’s the all-cash purchase, Zach Wichter wrote for bankrate.com. Here’s the thing: savvy homebuyers can essentially make a cash offer even if they’re planning to take out a mortgage. They just need to find the right lender to help them get everything in order. First, the basics. A cash offer is (usu-
ally) what it sounds like: the buyer plans to pay all-cash for the home he or she has put an offer on, and can prove the funds are in the bank to do it. Cash offers usually mean a more streamlined process for both buyers and sellers, and many sellers prefer to take unfinanced cash when it’s an option. Buyers who plan to take out a mortgage, however, represent more risks to the seller. “They’re taking the house off the market because it’s now under contract, therefore they lose a potential two weeks if the buyer doesn’t get approved,” said Jaad Nicholas, senior mortgage banker
at Ameris Bank, and vice chairman of the mortgage committee for the Asian Real Estate Association of America. The less financing involved in a real estate deal, the more favorable a seller’s view of the offer will usually be, he added. “What’s happening in this market is sellers are basically running the market because there are so many buyers and not enough homes to purchase. The sellers are starting to take the cash offers,” Nicholas said. “They’re taking those and they’re putting them at the top.” How can you compete with cash if
you still need a mortgage? While it’s true that sellers often prefer all-cash offers, it doesn’t necessarily mean you can’t compete in this frenzied market even if you still need a mortgage. “There are some ways you can use a loan and still be considered a cash offer,” Nicholas said. “The most common way, what we offer at Ameris Bank, is a decision-now approval.” It’s not exactly the same as cash, but it’s almost as good because a decisionnow approval, also sometimes called an underwritten preapproval or upfront underwriting, means the loan has already been funded.
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
NEW LISTING
LARGE 3/4 ACRE WATERFRONT LOT & HOME TO BE BUILT
In the Whitetail Sanctuary Section of Ocean Pines. New Boat Dock! Gorgeous views of Manklin Creek and Isle of Wight Bay. Located at end of peaceful Cul-de-Sac. Two Level home up to 5,000 sq.ft with $75,000 of options to be chosen by buyer. First & 2nd level Owner's Suites, Open Great Room, Library, Laundry, Office, Sun room, Studio and Garage. Please call for details.
Call Debbie Hileman at 443-235-5982
ONE-OF-A-KIND LOCATION WITH BREATH-TAKING VIEWS!
Debora E.
Hileman
OWNER/BROKER GRI & CRS Licensed in MD, DE
443-235-5982 Cell Debbie@Hileman RealEstate.com
A secluded 2.5 acre waterfront "Island" Paradise! Brand new private deep-water dock with lift, with direct access to Bay and Ocean! Extensive inside and outside renovations include a metal roof, granite countertops in the island kitchen, skylights, fireplace, a space-saving Murphy Bed, and so much more! There are 4 balconies, a 12x18 storage shed with workbench, 2 large climatecontrolled storage areas under the home, and covered parking for 5 cars or Boat! Most furniture conveys. Call today to see this magnificent property and all that it has to offer! $1,145,000
Sonia
Zaffiris Associate Broker GRI, CRS
Licensed in MD, DE
410-251-6217 soniasez@aol.com
NEW LISTING IN OCEAN PINES! PENDING IN 4 DAYS! PANORAMIC WATER VIEWS
Overlooking St Martin River. 3-4BRs/3.5Bas, balcony/loft, great rm. 2 primary suites. Views from all rooms. Gourmet kitchen w/large island. Deck, 45 year architectural roof, built-invac, tank-less WH, laundry rm, new COREtec flooring on 1st level. 10,000 lb boat lift & fish cleaning table w/water & electric, sundeck w/awning, over 80 ft of bulkhead!
Kevin D.
OC LISTINGS WANTED
Terri
Bradford
Associate Broker, GRI
Bethany
Drew
Associate Broker, GRI
Terri: 410-430-6875 Bethany: 410-430-2602 www.PO2Team.com Powerof2@PO2Team.com
NEW LISTING
DESIRABLE GOLF COURSE LOCATION!
This 3BR/WBA offers sunroom with cathedral ceilings and new windows. Galley kitchen w/some stainless steel appliances and breezeway to dining room. A breakfast bar is highlighted with a live edge wooden countertop. Primary bedroom includes full bath. Call for your personal tour. $299,900
NEW LISTING
GOLF AND BAY LIVING!
Beautiful views of bay, golf course, and OC skyline. Half acre lot perfectly located in the amazing Lighthouse Sound Community, only a 5 minute drive from Ocean City's sandy beaches. This peaceful community has some of the best views of Ocean City. Lot offers not only amazing views but tranquility that cannot be beat.
$220,000
Heselbach Associate Broker GRI, RSPS
Licensed in MD & DE
301-501-2463 Cell kheselbachHRE @gmail.com
BUILD YOUR PERFECT COUNTRY HOME!
Cindy
One Large Parcel - 2.07 Acres. Plenty of room for pets, gardening, friends, & family gatherings. Standard Septic System approved for up to 5 Bedrooms. Very convenient to the Town of Berlin, Ocean City & Assateague Beaches!
Crockett REALTOR®, GRI Licensed in MD
410-430-0587 Cell Cindy@HilemanReal Estate.com
$94,900
$739,999
Licensed in MD, DE
House & Lot $935,000 • Lot Only $349,900
4.9 ACRES
NEW PRICE
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. $251,000
NEW LISTING
Tim
Ulrich Associate Broker 410-422-1441 Cell timrealestate9 @gmail.com
LIVE THE COASTAL LIFESTYLE
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 water heater. Being sold furnished. $1,325,000
Lynette
Bridges-Catha CRS, PMN, GREEN, SRES
Licensed in MD, DE
443-497-3128 Cell Smilin4shore@comcast.net
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
PAGE 12
JAMIE CAINE
AUGUST 2021
Associate Broker
410-726-0725 | 410-723-8520 | JamieCOCMD@gmail.com
Search All Active Listings At: www.jamiecaine.com
12207 D Coastal Highway Ocean City, MD 21842 410-524-1203
LIST with a
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! 4201 ATLANTIC AVENUE • OCEAN CITY
11 81ST STREET #103 • OCEAN CITY
NEW LISTING
NEW PRICE
• • • • • • • • • • • • •
10BR/7BA Custom Built Beach front paradise Gourmet Kitchen
• 3 New Gas Furnaces • 2 New Gas HW Heaters
$3,299,999
$489,900
10610 SHIFTING SANDS DRIVE • CAINE KEYS II
2 DORCHESTER STREET • DOWNTOWN
NEW PRICE
NEW LISTING
• Views of Ocean & Assateague • 2BR/2BA, 1290 SF • Beautifully Furnished
• Pool, Putting Green, Fitness Center
$649,990
5101 ATLANTIC AVENUE #304 • OCEAN CITY NEW LISTING
• Updated 1BR/1.5BA • Ocean Front • Mid town Location • Updates: breaker box, tankless WH, hurricane shutters, bath rooms, appliances & furnishings • Well run strong condo association
$334,900
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
• • • •
Udated 4BR/3BA Waterfront On Wide Canal Boat Lift & Extra Boat Dock
• Under Ground Propane Gas
$749,900
LOT 34 SOUTHHAMPTON • BISHOPVILLE
• Beautiful Bayview lot in one of OC’s Nicest Neighborhoods • Only 5 Min to Ocean City Beaches • Possible Owner Financing $545,000
13027 OLD BRIDGE ROAD • WOC NEW LISTING
• 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
7731 ATLANTIC AVENUE • OCEAN CITY NEW LISTING
• Direct Ocean Front • Renovated Kitchen & Baths • 4BR/2Full Baths/2 Half Baths • NO Condo or HOA fees • 3 Oceanfront Decks $999,999 • Private Sun Deck w/Storage Closets
LOT 9 & 8 - SEA BISCUIT ROAD • SNOW HILL • Estate size lot • Quiet & quaint • Near Chincoteague Bay • Bay views • Close to Public Landing
$69,990 Each
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