If you don't know already, the Ocean City, MD real estate market is booming. But, with limited inventory and buyer demand still high, how will you rock your next coastal real estate purchase? Get ready for 2019 because I sure am! I'll give you some pro inside tips to make your 2019 beach real estate investment dream into a reality.
Chances are you already have some search tricks finding real estate listings in Ocean City, MD and surrounding coastal real estate markets like Fenwick Island, Selbyville, Ocean Pines, etc. But, I want to help you improve your research with tips. Some may even come at a surprise!
Our resort style coastal real estate market in Ocean City, MD is a bit different. You may think summer is our busiest selling season, but it's not. The spring real estate market is the first boom of the year. Sellers start listing their homes and condos in the beginning of the year and sales pick up in the Spring.
Most buyers start looking months before making the move to call a local real estate agent in Ocean City, MD. And, that's okay! You need to get familiar with the market and establish your wish list. The spring will introduce the first wave of new opportunities that may be your best option.
For more information on the ideal time to buy, read my blog article: "What's the Ideal Time to Invest in Ocean City, MD Real Estate".
Please do mistake me, summer is busy, but vacation rental properties tend to limit the amount of properties you'll be able to see or that are active on the market.
If you're familiar with searching real estate and homes for sale, you're familiar with the annoying phone calls from numerous real estate agents that you'll get when you have questions about a particular property.
If fact, when you use real estate marketing websites like Zillow, you're basically setting yourself up for solicitations. Let's say you have a question about an oceanfront condo for sale in Ocean City, MD. You complete the contact form hoping to get just the answers to your questions.
Not long after you'll start receiving several phone calls from multiple agents. Weird right?!? Most real estate marketing websites feature the listing agent, but rely on real estate agents paying them for leads. So, your information is typically sent to the listing agent and the real estate agent paying for your lead.
The agent getting your information can rotate causing multiple agents to get your information, creating multiple annoying calls.
These websites are helpful, and as a real estate agent, I use them to market my listings. However, consumers can have a less annoying method for researching their next property to purchase.
My website is extremely helpful, and I don't bother you. I help you by making sure helpful information is sent to you about your search and you're constantly becoming better educated about the local, coastal real estate market.
Many may not be aware of the new Opportunity Zone in Oceana City, MD. This zone from 33rd street to the inlet is a prime investment spot for investors and buyers seeking capital gains exemptions for buying real estate. This isn't like a 1031 like kind exchange. It's a new federal and state approved tax cut program under the Jobs and Tax Act of 2017.
Now that I've got you thinking, learn more about it in my blog article, "New Opportunity Zones Benefit Ocean City, MD Real Estate Investors".
Many families and investors target Ocean City, MD and surrounding beach towns to buy for Vacation Rental income. As part of your research, incorporate ideas for earning rental income. There are different rental markets here, and you can benefit from a variety of plans.
You'll want to establish your plan for managing your rental property, when you'll market the property, and how you'll rent it.
For more ideas on property management for vacation rental properties in Ocean City, MD, read my blog article "3 Ideal Ways to Manage your Ocean City, MD Vacation Rental".
Your research is only going to be successful if you have the correct resources. Even if you're a year or two out from buying, get a grasp of the process for buying here and get connected to local professional resources that will help make you a strong buyer.
One common disappointment is not qualifying. Just because you have a perfect FICO credit score, doesn't mean you'll get the perfect mortgage loan. It's helpful to understand the type of programs that are available. This doesn't mean you have to jump into a pre-approval process. It means, you should start getting your mind thinking about the options.
You'll also want to start collaborating ideas with a local Ocean City, MD Realtor experienced in the local market and surrounding coastal real estate markets. You want to make sure you're targeting the right properties for your investment goals, and getting fast answers to questions about specific properties, the process, condo fees, rental income, etc..
When you subscribe to my hassle-free Ocean City, MD real estate listing alerts, you'll get the properties you want to see, helpful articles like this, and a professional resource without the headache or sales pitch.