PAGE 14 LIFE.STYLE.HOMES THE DISPATCH ‘Seller’s Market’ With Inventory Shrinking BERLIN – A new survey by the National Association of Realtors® found that a majority of renters say homeownership is one of their highest priorities for the future and they are thinking more about purchasing a home now than in past years. Given that information, it shouldn’t come as a surprise that the survey also found that Americans overwhelmingly believe owning a home is a good financial decision. “Renters are increasingly recognizing the benefits of homeownership,” said Sheila Dodson, Coastal Association of Realtors (CAR) executive director. “In addition to its many social benefits – such as providing a stable, safe environment – the financial benefits of owning a home are even more apparent to renters now. In many parts of the state it is actually cheaper to own a home than it is to rent and the selection of homes to choose from is greater. Homeownership also is one of the best ways to build financial security over the long term. In most cases, the benefits of homeownership far outweigh the benefits of renting.” The 2013 National Housing Pulse Survey, which measures consumers’ attitudes and concerns, found that Americans’ outlook on the housing market is improving. Nearly four in 10 Americans (38 percent) identified an increase in activity within their local housing market in the past year, compared to just 22 percent who reported a slowdown in activity. Respondents were also less concerned than in the past about the drop in home values and foreclosures. The survey also found that more than two-thirds of those surveyed said now is a good time to buy. CAR believes that despite a recent rise in mortgage rates and lower home inventory levels, affordability conditions remain favorable for buyers. Overall on the lower shore, home purchases are up 22 percent over last year with many being first time buyers as well as returning buyers. “Our market is on its way to being a seller’s market as inventory is shrinking. We have also seen an increase in sale prices in some areas and ranges,” said Dodson. “Buyer traffic is up from this time last year, so it’s evident that people want to be homeowners.” Primary Residential Mortgage, Inc. Branch Manager Jason Cook said there is god reason for optimism in the local market. “There is a lot of positive buzz in the market, said Cook. “Home values are on the rise, multiple bids are being placed on the same properties and overall there is increased activity as more people are pre-qualifying to look at properties.” CAR has a few tips for renters or move-up buyers looking for a new place to call home. First, know your credit history and understand how the credit system works. Next, do your research. Home inventories are low in many areas and sellers are receiving multiple bids. Then, identify neighborhoods that you like and think about what you want. Summer Beach Condominiums 3 35TH STREET, OCEAN CITY, MD WWW.SUMMERBEACHOC.COM Office Building For Sale UNITS FOR LEASE 5000 Coastal Highway, Ocean City John Quinn Associate Broker 443-235-9444 johnquinn.oc@gmail.com Diana Whittington Realtor 410-603-5627 dwhit61@mchsi.com Beach Front Property at 35th Street with Ocean Front and Ocean View 1, 2, and 3 Bedroom Condos Available for Rent. On-site pool, parking garage (2 spaces per unit), and year-round management office. Walking distance to Beach, Boardwalk, Amusements, Restaurants, and Convention Center. 6 Unit Office Building. Total square footage is 6970. Individual units range from 595sf to 1400sf. Located in high traffic area of Coastal Highway on 50th Street, across from Seacrets and next door to Ocean Pines Beach Club. Plenty of parking. Call for pricing on purchase and lease options. CALL TODAY FOR RESERVATIONS 410-289-0727 Or if it’s time to purchase your own vacation getaway or 2nd home at the beach, be sure to ask about our units for sale! Managed By Barbara Passwater, Broker Sea Gate Sales & Rentals 410-208-9006