You won't find an oceanfront for under $300K. This should narrow down your search!
VACATION/2ND HOME
Tue, 06/06/2006 - 10:32
#1
Wed, 06/14/2006 - 17:45
#2
If you are looking for a property in OC, here is a link i discovered which I find very helpful. Play around with the site and you get all sorts of good information about condos, sales history, selling price and other goodies.
Have fun!
http://www.dpol.com/bldg_search_1.idc
Mon, 06/26/2006 - 14:44
#3
Tue, 08/01/2006 - 14:26
#4
If you narrow down your choices and post a few "possibilities" here, I may be aboe to help with some info. I live here about half of the year and I do some photography for a prominent local realtor.
It truly is a great place to have a vacation/second home. We first bought a little over eight years ago - and have not regretted it one bit. We waited until we could own without having to rent to help pay the mortgage.
We are able to hop in the car whenever the mood strikes us - nothing to pack (except my laptops) and whatever book (or books) we are currently reading.
And that DPOL link is truly helpful. And if you want a really helpful realtor to talk to - do a Google search for Lynn Bartlett Ocean City Real Estate. He is a great guy.
My advice: Go For It!
Wed, 08/02/2006 - 14:00
#5
I second the Lynn Bartlett recommendation. He has his own website. Do a google search. I have used him ("Bart" as he likes to be known) for the buying and selling of a condominium in OC and for the purchase of my current residence in Ocean Pines. He is a great guy.
As far as advice for purchasing here's some tips I learned after owning a condo in OC for 6 years.
If possible, stay away from the low unit per building condo associations. In that I mean, don't buy a unit in a condo with only 4 or 6 units because the condo association will be weak for the most part and it's very difficult to build up funds for improvements without assessing each unit a large dollar figure to make improvements. Also in my experience, most likely the members will want to do a lot of the work themselves where possible to save money and who wants to do that while you are on vacation for a week or just trying to get away for a three day weekend only to have one or two days wasted doing maintenance on the common areas. On the other hand, larger condo associations with 20+ units will have larger reserve funds, contract work out where possible and have a stronger association that is willing to make tough decisions when need be. I used to own in a 6 unit building and the biggest problem was no one was ever willing to make a decision even though, as stated in the by-laws, we had a president, vice-president, treasurer and secretary. So instead, of making a decision, problems lingered until they became bigger problems and more costly to correct later than sooner.
Before buying get a copy of the condo association's minutes for the last two years at a minimum. Check to see if there are any major improvements scheduled for the future (big assessments) or if lingering problems are not being addressed. See if the condo fees have stayed steady or if they gradually increase or even decrease sometimes.
If possible, talk with some of the current owners and see how satisfied they are with everything.
Good luck!
Wed, 08/02/2006 - 14:52
#6
Some good advice about the small association condos- Not to say that if you find a beautifuly 6-8 unit bldng, just check the condition carefully, and check for assessments that may be coming.
I thought I replied to this in the past (maybe another thread)- but if you will have to rent, you probably want to find either an oceanside unit, or bayside with a water view to make it easily rent-able. Most people want easy access to the ocean or a bay-view- or at least a nice pool to lay beside when it's hot. I would stay away from a land-locked bayside unit if you will be renting- If it's just for yourself, and you love the unit, then get what makes you happy.
Heron Harbour off of 120th st (bayside) has great ammenities, and 3 good-sized pools that 4 or 5 associations share. There is also lot of open-space which you usually don't see in Ocean City- There is one set of condos that offers a one-bedroom unit (not sure if any are on the market)- 1 BR Seascape Heron units had been going for about $230-245 at last check. You can find some 2 BR units still hovering around the high 200's-low 300's, but it is getting hard to find many left- they may need a little TLC at that price. The layout of this community is a lot different than most traditional OC units.
I am considering purchasing either a 1-2 bdrm condo,etc., type home either on the Ocean or Bayside in O.C. for under 300k.
I have checked listings, but I would like to hear from folks who actually own units like this...you know, the good, the bad and the ugly. Places to consider and not consider, etc.
I really appreciate any/all information. I can also be reached at
TIA!!