Mon July 15, 2013
Ocean City Moves Up As Hot Property
If you’re looking for a vacation home Ocean City has become one of the more popular locations.
That’s according to the listing site Trulia.com.
It reports that the resort town is rated as the 4th most searched-for-location by prospective buyers.
The top town is its namesake Ocean City, New Jersey.
Sheila Dodson, executive director of Coastal Association of Realtors, told the Salisbury Daily Times that it has still not come back to the 2006 level but there has been general improvement and increasing interest over the last few years.
Dodson said the Ocean City is unique -- especially because people often buy properties as a second home which they can rent out.
Sometimes the buyers are pre-retirement investors with their money staying in the home for 5 to 10 years.
The home listings run between $200-thosuand and $300-thousand dollars which is an increase of 14 percent over the last year.