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Multiple ways you can get that loan
REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
JANUARY 2022
If you’re buying, look at all possibilities for financing The decision to buy a home is significant. Real estate is the biggest investment the average person will make in his or her lifetime, which underscores just how significant the home buying decision can be. The real estate experts at Zillow recently reported that the national median price of a home in the United States is $272,446. However, since the National Association of Realtors reported a record low housing inventory late in 2020, the average house price has been rising rapidly nationwide. The Federal Reserve Bank of St. Louis estimates the median home sales price at $374,900, and certain states have much higher prices. WOWA, a real estate and finance
technology company, says the average sale price of a home in Canada was $679,051 in July 2021. Most people do not have $300,000 to $600,000 in savings on hand to purchase a home in cash. If they did, they probably already own a home. That means most buyers also need to obtain some kind of financing to
pay for their homes.
Conventional lending Conventional lending refers to when a bank or another financial institution loans a home buyer money to buy a home. This is one of the most common ways to fund a home purchase. Per-
sonal credit score as well as credit history help determine eligibility and interest rates for conventional loans. Availability of assets as well as income level are some additional determining factors. Conventional loans are traditionally 10-, 15- or 30-year notes and will require a certain percentage as the down payment to secure the loan.
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
LOT FOR SALE 12902 ASSAWOMAN DRIVE OCEAN CITY
38841 TYLER AVE SELBYVILLE, DE
KAREN RUSSO CELL: 410-262-7320 $1,195,000 (DESU2008628)
MARY MCCRACKEN CELL: 410-430-7302
Waterfront 4BR/3.5 BA Stucco Colonial w/5 Decks & One Car Attached Garage in Sought-After Cape Windsor. Stunning features, Bonus Upper-Level Room, Sliding Glass Access to Expansive 30 x 9 Upper-Level Waterfront Deck w/Spectacular Views of The Canal, Bay And Ocean City/Fenwick Skyline. As Well As Upper-Level Master Suite, Bedroom 3 w/Sliding Glass Access to Private 14 x 6 Upper Level Balcony. Exterior Of Residence is an Outdoor Waterfront Oasis w/Waterfront Covered Rear Patio 9x27 Composite Deck w/Vinyl Railings, Lower Level 25x28 Composite Sun Deck, Vinyl Fenced Rear Yard, Boat Dock w/Electric Boat Lift, Landscaping, Paver Sidewalk and 8x6 Vinyl Shed to Store Your Boat & Beach Toys All Perfect for Outdoor Entertaining and Waterfront Fun. Furniture Negotiable. HOA Amenities Include Community Pool and Boat Ramp.
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.
$835,000 (MDWO114874)
NEW LISTING
NEW LISTING
NEW LISTING
CENTURY I UNIT #411 OCEAN CITY
THE QUAY UNIT #706 OCEAN CITY
THE PLAZA UNIT #1601 OCEAN CITY
Appraisal on hand for $540,000!! 2BR/2BA bi-level condo on the direct oceanfront w/stunning views of the ocean and bay on 4th floor location. Large living room has floor to ceiling/wall to wall sliders offers picture perfect views of the ocean. (MDWO2001160) Gorgeous renovations in the updated kitchen w/cabinets, counters, and appliances. Both bedrooms have floor to ceiling/wall to wall sliders with views and a balcony. Gorgeous Bath Renovations w/ceramic tile showers, tile floors and updated cabinetry. Century I is a premiere oceanfront building w/large indoor pool, exercise room, onsite management, and security. This condo has large private beach storage that can convey to buyers for $400 refundable fee.
$540,000
Lovely open floor plan in this spacious 2BR/2BA condo on the oceanfront makes this space perfect for all your friends and family. Large country kitchen opens to full dining room and large living room with double french sliding doors to balcony providing nice (MDWO2002750) ocean and bay views plus sunny southern exposure and coastal breezes. Spacious master bedroom with ensuite bath and dual closets. The Quay has extensive renovations over last few years including heater in outside pool, elevators, sprinkler system, fire alarms, caulked and resealed entire building, emergency generator, paved driveway and more. Enjoy all the amenities including Heated Outdoor Pool, Y/R Indoor Pool, Game room, Exercise Room, Shopping, Library, 24/7 Security and Loads of Extra Parking.
$450,000
Join Our Team At Long & Foster Ocean City! Stan Zaremba Branch Manager 410-520-2707 • Stan.Zaremba@LNF.com
Gorgeous South End 3BR/2BA condo w/Large Oceanfront Balcony plus sprawling Bayside Patio plus Extra South Facing Window with Amazing Views. Over 1600s.f. Large Oceanfront Living Room w/balcony access offers spacious living, Full Dining Room w/Large Picture (MDWO2003334) Window and Fully Equipped Kitchen w/lots of Storage. Oceanfront Master Suite also offers balcony access and Large Picture Window plus En Suite Bath. Second Bedroom has Large Sliders to Private Bayside Patio offering Views from the bay to the bridges. The Plaza is OC's Premiere Oceanfront Living w/Heated Outdoor Pool, Tiki Bar/Grill, Kiddie Pool, Y/R Indoor Pool, Hot Tub, Saunas, 5-Star Dining, 24/7 Security and Maintenance Staff. 2 Parking Spots and Private Beach Storage included in Sale.
$800,000
Please call or email me for a confidential Conversation on joining our team:
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