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Tuesday, June 22, 2010

Ocean City Sees More Foreclosures, But Rental Bookings Are Up

A trip to the beach is a ritual for some area families. A number of beach properties are owned by people who live in the D.C. metro area.

So how are property values at the beach doing?

WTOP follows the housing trends at beaches where locals vacation and own property in this special series which airs Monday afternoons on WTOP.

June 14 -- Property values drop in O.C.Property values are down, but one real estate agent sees "positive" signs of recovery.
June 21 -- O.C. rental market evolves with InternetSummer bookings are up at one real estate company. The Internet has changed the way real estate companies do business and how long people vacation.
June 21 -- Vacation homes turned into rentals don't make moneyVideo: Long-time brokers in Ocean City debunk the myth that you make money in the rental business.
June 21 -- Market for vacation properties starts to reboundReal estate brokers say prices are now realistic, and buyers are starting to again look at properties in Ocean City.
June 21 -- Advice for buyers jumping into foreclosures, short salesBuyers who think buying a foreclosure or short sale property will be an easy task need to think again.
June 21 -- Ocean City sees surge of foreclosures, short salesWTOP sits down with two-long time Ocean City real estate brokers to get a sense of how deep the resort's foreclosure crisis is.

Source

1 comment:

Anonymous said...

Well of course foreclosures are up, prices spiked, and truthfully those properties aren't worth that kind of money. Compare OC prices to say, Myrtle Beach. Vastly overpriced comparitively. Not to mention MB has better beaches, better restaurants, more to see & do...