Ocean City Maryland Properties

Boom-Era Property Speculators to Get Foreclosure Aid

It must be an election year. Bloomberg is reporting that the the HAMP loan modification program is being extended to investors who bought multiple homes. As reported:

“Landlords can qualify for up to four federally-subsidized loan workouts starting around May, as long as they rent out each house or have plans to fill them, [...]

Maryland SDAT Reports Reduced Property Assessments Mailed to Ocean City MD Resort Property Owners

Ocean City Today on Friday reported that reduced property value assessments will be delivered to many Ocean City Maryland property owners by mail in the coming weeks:

“Ocean City property owners started the new year with good and bad tidings, depending on how they feel about having a lower property assessment.

On the [...]

Maryland State Department of Assessment and Taxation (SDAT) for Worcester County Reports 15% Decrease In Property Values

The Maryland Coast Dispatch had an article Friday reporting another decline in the taxable value of Ocean City Maryland property values:

“According to Robert Smith, director of the State Department of Assessment and Taxation (SDAT) for Worcester County, most residential property owners in Ocean City will see their values decline by an average of [...]

Major Revamp Of The Home Affordable Refinance Program Announced

This could be very big news, and probably is, and will certainly lead to a major uptick in residential mortgage refinancing. As reported everywhere yesterday:

“Seeking to breathe new life into a sagging economy, President Obama announced Monday he will attempt an executive branch rescue of homeowners trying to refinance underwater mortgages, with a [...]

Investors Outdo Banks Offloading Distressed Properties

DSNews.com and ForeclosureRadar are reporting what many “on the ground” have observed for some time:

“Third-party investors are much faster at reselling foreclosures than banks…

‘Our statistics clearly show that real estate investors continue to far outperform banks in dealing with distressed properties,’ said Sean O’Toole, CEO and founder of ForeclosureRadar.”

“Outperform”?

As buyer agents [...]

Worcester County Maryland Housing Statistics For Year 2010

I took a glance yesterday at the Maryland Association of REALTORS® published 2010 Year End stats for Worcester County and noticed a mixed bag.

On the issue of price, the numbers showed a decline, with Worcester County actually in the highe ranges compared to other Maryland jurisdictions showing a 8.7% and 9.1% decline in average and [...]

Ocean City Could Steer More Toward Tourism Or More Population growth… But Can It Do Both?

Ocean City Today posted the second in a three part series about growth in Ocean City Maryland and posed the question:

“… Ocean City at a crossroads of whether to choose a niche of either residential or tourism development.”

Some believe that condominiums favor a more tourist-oriented economy and future, and the relative number of [...]

Ocean City Today Reports That “Established Businesses, Service Providers Moved West In The Last 10 Years, Because Of Lower Taxes And Less Expensive Land

Ocean City Today is reporting what many have noticed with concern along Coastal Highway in Ocean City- business have left and are leaving:

“A long Coastal Highway empty shops, malls and signs reading “restaurant for rent” reflect a decline of retailers in Ocean City. At the same time, West Ocean City has become the [...]

What If We Are Only 25% Thru All Of The Foreclosures?

Mark Hanson, who in his former life was a highly successful mortgage banker, now an independent real estate and finance sector analyst, does not post publicly very often but when he does it is always worth a read. In his latest post he opines on a number of housing related subjects, including the number of [...]

The Daily Reckoning Says: “Why You Should Buy a House”

The Daily Reckoning, historically one of the more bearish pubs, has an interesting recent article analyzing the effects of inflation– which seems to be THE pronounced policy of the Fed– on the decision to buy a house today:

“Chairman Ben Bernanke promises to “promote inflation.” We take him at his word…and so do [...]

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