Real Estate & Mortgage

Ocean City MD

While the world cried "housing crash",  Ocean City, MD local resort business leaders have put out positivity as they wait for a upswing in this Vacation resort town.

Briantine Stalls Property Reevaluation

In Brigantine New Jersey,city officials are refusing to meet this Friday's deadline to finish a controversial property revaluation, saying they have “serious concerns” about the accuracy of the company doing the work.

“We cannot, and in fact we will not, provide to Atlantic County a revaluation report until we are absolutely certain that it accurately reflects the value of the real estate in our city,” he said. “That's the only way we can ensure that the tax burden is distributed fairly and equitably to each and every property owner in Brigantine.”

Affordable Homes

This from BankRate.com. Housing is still affordable in the right spots

The article says that Coastal metropolises like Los Angeles, New York, Boston and San Francisco all might be ranked among the most desirable places to live, but they are expensive! Thus home prices make it tuff to find affordable housing.

The article refeences Lawrence Yun an Econmist from NAR. He says high home prices in popular coastal cities appear to be driving a wave of migration to less costly locales, according to , economist at the National Association of Realtors, or NAR. "Californians are buying up properties in cheaper neighboring states. On the East Coast,  prospective homeowners are seeking out property in Virginia and the Carolinas."

It appears  United Van Lines reported that California had a higher number of outbound moves relative to inbound ones for the first time since 1995. For every 44 moves into the state last year, the company handled 56 outbound moves.States with a much higher number of people moving in rather than out included Oregon, Idaho, Arizona and North Carolina.

Overall, housing affordability nationwide is at its lowest point in 15 years, according to the NAR. In December, the percentage of households in California able to afford a median-priced home stood at 14 percent, according to the California Association of Realtors. New York City, Boston, Washington, D.C., and increasingly, South Florida homes, , according to Yun, are also progressively unaffordable. The most affordable markets, by contrast, tend to be in the Midwest.

Ocean City Real Estate and Condos

Vacation Homes in Ocean City are as common as the tourists in Ocean City. And now, condos in Ocean City are becoming common place. Recently reported, Condo & Town House developers are in a frenzy to develop condominiums in this Vacation Beach town.

Stories of investors reeling in hefty returns are common place as Ocean City has grabbed the attention of more than just vacationers. Many feel that the alternative stock market is too big a risk, while real estate is the best thing going.

In Ocean City, a popular seaside resort that has drawn generations to its wide beaches, honky-tonk amusements and Boardwalk food stalls, the seemingly insatiable demand for upscale condos is prompting a rush of redevelopment.

The real estate boom is nothing new to the Eastern Seaboard. Jersey Shore real estate is experiencing a boom of its own.

In Atlantic City and other New Jersey shore towns, home builders are rebuilding "teardown" houses and putting much more expensive homes into a cramped area.

Find out more about Ocean City real estate in New Jersey