When it comes to the real estate market in Ocean City, it’s no secret that the competition for buying and selling becomes heavy during the peak summer season! Open houses are flooded with potential buyers and the market finds new listings daily.
But does all the potential for buying and selling a beach home in the summer really prove more beneficial? In fact, many realtors disagree. Local Berkshire Hathaway Fox & Roach agent, Peter Madden, suggests that the summer season is a great time to do your research and browse over the options for buying or even seeing what buyers like best in a home. However, “it turns out that the best time to buy is actually in the winter,” Madden states.
According to Peter, “interest rates are at a historical low right now, making buying a home cheaper than ever,” Therefore, if someone were to buy a home right now as opposed to buying this upcoming summer, it would definitely be cheaper than what that same house would go for in just a few months.
One of those listings that could be plenty cheaper is this beautiful home located at 2625 Wesley Avenue overlooking the beach in a perfect summer location! With oceanfront views in almost every room, this luxury beach house can be a vacation or residence fit for royalty for $4.39 million.
Another home that is listed at an amazing price is this beautiful, modern first floor. With four bedrooms, 2 bathrooms, hardwood floors and stainless steel appliances, this home offers everything you could possibly need for the perfect stay! At the price of just $445,000, this beautiful space could be yours!
For those looking to enjoy their home this upcoming summer season, the historically low interest rates are a whole new reason to buy now. “Since settlement can take up to 45-60 days, buying a house now would have you in that house by March at the latest, giving you, the new owner, time to fix it up as you please for your enjoyment this summer or for your possible rentals if you’re looking to make money off of the home,” says Peter. This is one factor that buyers often overlook when searching for a home during the summer season.
Lastly, Peter informs us that Ocean City’s off-season means that the island is empty of the many vacationers that populate it in the summer. “It’s incredibly easy to call up your agent and look at homes during the winter since agents and owners can be more readily available to show homes during this time,” he says . During the summer, it can be difficult to book showings with an agent who is busy with rentals and other potential buyers.
So get your head start now and start looking to buy with Peter Madden before the summer season hits! As much as it feels like this winter will never end, our sun-soaked beach days will be here before we know it!
For more information, visit www.PeteMadden.com
