GoodNews....really?

We have been continuously battered from all sides with doom and gloom recently. So, as a firm "glass 1/2 full" kinda' guy, here is some real POSITIVE RECENT news:

-Corporate Cash Flows are at the strongest in 25 years!
-Interest Rates are LOW (below the 7.1% 8 year average)
-US Home prices are down to 5.7 times per capita income (the historical norm), which is down from the 7.3 times of Oct. 2005!!
-What took Japan over 10 years to implement, in fixing their financial problems, has taken us only 90 days.
-Money from overseas is flowing into US Treasuries because we ARE the engine of the world.
-Existing home sales are up...highest in a year (up 5.5% in Sept. from August)
-New Home Sales Up 2.7%
-Inventory of unsold homes fell (good for sellers) 7.3% - Largest monthly drop in 4 years)
-Libor Rates are dropping (affect mortgage rates)
-FHA Applications are up 160% over 2007!
-Oil Prices are dropping!!! $64 Dollars a barrel, down from $145 a barrel in July...that is $10 to $20 real dollars less to fill-up than two months ago!!!
-Every 1 cent reduction in gas prices saves Americans $3.4 million dollars a day! So, prices dropping $1.33/gallon saves us $447 million a day.
-The dollar is STRONG again!!

Now, stop with the negative talk, and start doing positive things, even if it means DON'T turn on the news, or talk radio and definately don't pay attention to political ads or wrangling.
Oh, and cheer on the Terps Thursday...maybe all the positive thinking will get 'em a win in Blacksburg! www.awisemove.net

1st Time Buyer Tips!

Home-price adjustments in markets around the country have opened doors of opportunity for many renters. If you are transitioning from renter to homeowner, the prospect of making such a large investment may be exciting, while at the same time overwhelming. But it doesn’t have to be. Here are six common mistakes to avoid.

1. Not understanding the homebuying process. Educate yourself. Find a homebuyer seminar that you can attend or research online. The U.S. Department of Housing and Urban Development Web site (http://www.hud.gov/) has an entire section devoted to homebuyers with common questions of first-time homebuyers, mortgage and home-buying programs information, downloadable tools such as a wish list and home-shopping checklist, tips on selecting a real estate professional, etc. Likewise, Prudential Real Estate’s popular Web site, prudential.com/realestate, offers consumers brand-new tools for the homebuying process, such as free home environmental reports, Value Range Estimates and Property Profiles, among other resources.

2. Not asking questions. There are many facets and intricacies to the homebuying process, so although you may gain a basic knowledge, you will still have questions. Don’t hesitate to let your real estate professional know that you are new to the process. Make sure you choose a sales professional who is willing to spend time with you and walk you through the entire process. He or she will expect you to have questions at each step—from house hunting, to making an offer to the closing. Remember, this is one of the largest financial transactions of your life, so you want to have a clear understanding of what’s going on.

3. Buying on impulse. Don't feel pressured into making an offer on the first home you see. Buyers, especially first-timers, may be impressed by the first two or three homes they view. Look at a good selection. List the positives and negatives about each home. Narrow the prospects to three or four and then return for a closer look. When you decide to make a bid on a property, work with your real estate professional to get all of your questions answered before making an offer. But don't wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.

4. Looking outside your price range. Before beginning your home search, consider getting pre-qualified to so get an idea of how much you may be able to borrow. Use this information as a starting point in determining your price range. Then take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, homeowners insurance, utilities, private mortgage insurance (PMI) and maintenance.

5. Not planning ahead. Think about personal changes you are planning in the next five to seven years. For instance, are you starting a family, and if so, is the home large enough and will it continue to be? If this will be a starter home or if you think you’ll be relocating in a few year, you’ll probably want to pay closer attention to appreciation and resale value. If a double-income is necessary to qualify for financing and to make your payments, do your plans foresee an income sufficient to continue making payments?

6. Failure to focus on location. Don’t just focus on the house. Examine the community. Does it suit your lifestyle? Is the area safe, well-maintained, close to work, stores and schools? Find out about zoning and what new construction is planned on vacant land in the immediate area. Also consider the property marketability when it’s time to sell.Above all, remember knowledge is key. No question is a silly question. Your real estate professional can be an invaluable asset throughout the process. Making smart home buying decisions will make the home-buying process less scary and your first home purchase a rewarding experience.

Molecular Dislocation!

Ahhh, as a wide eyed youth attempting to become a muscular young man I decended upon the World Gym (long gone) at Wheaton Plaza. As I entered I was hit with the "clanging" of wieghts, bright colors of the gym clothes of the "era" (thank GOD they are long gone) and the distinct smell of a locker room et al. Anyway, I jumped in to the scene...of, molecular dislocation.

This is a term used by my favorite radio personality, or BOSS JOCK, the Greaseman"! Who as it turned out would ultimately join my new favorite place to hang out...World Gym.

Well, the ole' gym crowd was filled with "personalities"...not necessarily famous...just personalities. You had the hair plugged late fifties guys, the make-up laden house wives/or ex-housewives- spandex and all, the young aspiring football/baseball jock kids (me and friends), the actual fitness freaks spending hours on treadmills and aerobic classes, and the hero's of the day (sadly) the JUICERS....although at the time I (among my peers) did not no they were?

Anyhow, at the gym (I had become quite the gym rat) I had a chance to "spot" (term for watching/helping someone while they were lifting heavy wieghts) a man who was very nice and altogether familiar...his voice was anyway. I dared to ask him if I knew him and he said his name is Doug, but he is known as "The Greaseman"....WHAT! Are you kiddin me, unbelievable , I knew (me the teenage Jay...pimples and all) the freakin' Greaseman..."Nino" the BOSS JOCK himself...wow. And beyond all of this he was a cool, nice down to earth guy, who after the initial "wow" factor wore off became just a friend at the gym to me.

I worked summers in Ocean City, MD (my home now) and the Grease's Band played at a local bar...I went and met the Grease there...and what instant cred that gave a single summer cop that night? I don't need to say anymore. The picture is of me, The Greaseman and a good friend and old supervisor of mine Timmy Keane the night of the show.

How glad i am to hear the Grease is back "at home" with DC-101 on Saturday mornings! When I am in the DC area I won't miss his broadcasts....unique and creative....everything that is missing from all the other morning garbage shows nowadays. Thanks Grease you made an impression on an old gym rat now...when you are in Ocean City look me up...and we'll head over to 67th St...where I still workout at World Gym. Now, I am afraid to admit I fall into some kids list of "personalities" at the gym....

OH...GO TERPS!! Beat Clemson!

http://www.awisemove.net/

Gameday Approaches GO TERPS!

Well, as summer winds down here on the beautiful beaches of Ocean City, Maryland...and students pack up and leave for college, foriegn workers pack up and leave for Latvia, Lithuania, Russia, Nepal, etc....I will be packin' up to head to College Park- FOR TERP FOOTBALL!! Ah, the smell of sausages cookin' on grills, the snap of a cold beer being opened (no more kegs saddens me) , a sea of red clad people (old and young), did I mention the smell of sausage?

The season looks promising with a bunch of returning starters and a linebacking corps like no other in the ACC! Jordan Steffy will get another shot to start the season, and will not dissapoint...with the addition of James Franklin as the new Asst. Head coach and running the offence. The FRIDGE can do what he does best oversee the Team and Coaches and take the TERPS to the ACC Championship!

Bring on the Blue Hens, California, BC, FSU, Clemson and Virginia Tech...woooo weee what a schedule, it's gotta' be one of the toughest?

If you can't get to the games because you are in Ocean City, buying a great condo...here are the radio stations you can catch the games this year: WQMR 101.1 FM Ocean City & WTGM AM 960 Salisbury.

Verizon Never Again.

I'm a REALTOR, as you may ,or may not know. So, as a REALTOR I am forever being solicited from this or that media outlet to advertise. I do, and have advertised heavily, at great expense I might add. The advertisers I have and do work with are professional and competent and I generally use/read...or subscribe to their service. But, take note of the mess you see in the picture above......

Well, as my (Verizon) cell phone rings, this is what some contracted (I am sure..?) delivery person did to my condo's parking lot in Ocean City, Maryland. These are Verizon telephone directories strewn through our parking lot...dumped essentially! As you or anyone else might have been...I was and am pis**d off...and WILL NEVER recommend/advertise and in the process of changing the aforementioned company as my phone provider. This is absolutely the end of any dealings I will have with this company..only to be mentioned once!

A few weeks prior, I might add, YellowBooks were delivered to our building with a knock at the door if you were home. If you were not home they were place inside the storm door or directly in front of the storm door....NOT thrown in a parking lot...and across someones parking spot.

So...anyone at the irresponsible company be it known..NOT to solicit advertising from me,..or phone service...or internet...NOTHING. Clean up your act, or stay out of Ocean City.

http://www.awisemove.net/

Classic Nor' Easter in OC

Here a Pic from my office today...yuck..lookin North on Coastal Hwy

Eiyy yii yii, what a slog it has been since Saturday night. The onset and typical stall of a strong Nor' East wind.

As I watched the news (all of 'em) Fox, Weather Channel, the local Eastern Shore stations...., had the same forecasts. They were for rain for a day or so....then sun and warmer weather. Ah, the thought was nice- and I certainly am a fan for seeing the glass as half full at all times. BUT, now heres a big BUT, the wind had shifted offshore from the Northeast. Well, I am noooo meteorologist/weatherman or qualified as anything close....BUT I have lived on the coast for a long time. And , everyone I know who has lived here any substantial amount of time- can tell you- when this happens we're in for a stretch of cold, rainy, dark and miserable days. This is a Nor' Easter.

I know I shouldn't infer that I can forecast weather ('cause I can't) BUT, this scenario usually happens- and it seems the forecasters always blame the mountains....I blame the Mountains to the west and the Strong Northeast wind holding the fronts? I'd love to know if this makes sense.

Well, for my glass half full part....it has been four days and counting (we Ocean Cityers usually say these last five) soon there will be SUN, FUN and Spring to be enjoyed! So, come on down.

Fire on the Boardwalk

It is always sad when a home or business is lost by fire, or otherwise. But for us in our Ocean City resort town, our boardwalk, is near and dear too us. Too many people it is the heart and soul of Ocean City, MD , with all the smells (good and bad), sights , food, rides and games. A bit "honky tonk" and cheesy, it is none the less a huge part of the resort's identity. We lost a part of that identity, at least temporarily, on Sunday.

A fire swept through the Dough Roller at S. Division Street and the boardwalk, gutting it and another business ...as well as several apartments. This restaurant, maybe not the favorite for the likes of Emeril, but a favorite stop for thousands of visitors over many years. The restaurant had tables outside to people watch (one of my favorite past times) and convenient food to munch on. Now, the restaurant will be torn down until it is (and it will be) inevitably rebuilt.

But as we push on towards our most busy of seasons...summer....a void will be left for at least the summer of 2008. That void will be felt at the corner of S. Division St. and Atlantic Ave (more commonly known as "The Boardwalk")....until you rise again...we'll miss ya'.

Easter Egg Hunt!

We had a fun day this past Saturday at our (Prudential Carruthers REALTORS) West Ocean City Office. The fun was watching at least sixty kids run around during our 1st Annual Easter Egg Hunt! We also had a yard sale that ran in conjunction with the Easter Egg Hunt.

I quess the highlight for me was hangin' out with "Sherman" the Shorebird.... Okay, I know "who" and "what" is Sherman. Sherman is the mascot for the local Baltimore Orioles Class A minor league team...The Delmarva Shorebirds. The kids loved his appearance as did all the motorist driving east on Rt 50 (horns honking and grown men shouting, "GO SHERMAN!!". I know I had a great time...I'm pictured with Sherman and a knit cap I was attempting to sell....but considering it was chilly, I wore it to keep my bald head warm.

This was just a quick post to keep me in line...and posting, I'll have some more interesting stuff lata'...so lata' Jay

Good Friday....Great Friday!

I hope you all are getting set to enjoy this upcoming weekend? Ready for church, cookouts, fun, and of course NCAA basketball!!

I've been on a week long roll with this whole "BLOG" deal....and I figured I'd keep it moving. So, this will be a brief update on, alas real estate , here in Ocean City, MD.

BUYERS MARKET IT IS....now, for sure- even if you are soooo sick of hearing this ,often abused, saying! Well, just to give you the abridged version of our buyers market here ya' go: In our beautiful resort of OC there are over 1600 that's right, one thousand six hundred CONDOMINIUMS FOR SALE! That is a huge number....now couple that with the latest from my number one Mortgage Banker Brian Roberts, "The good news is that rates are really good going into the weekend. Rates changed twice again today on the upside to leave us at 5.75% for purchases with zero points. If your clients are interested in ARMS tell them no since the spread on ARMS is not attractive. The 30 year and the 30 Year Interest Only are still the two programs to go with."

Okay, what all that mess means is, IF, you have the money to put down 10-25% and good credit and job standing you will get the deal of a lifetime! Money is cheap right now, but lender's are doing thier due diligence in qualifying people...as they should have been long before the subprime mess. Remember if you have the cash (I wish I did?) to purchase without a loan...pay for a professional appraisal...you will be glad you did. Oh, and make it a contingency in any sales agreement!

Okay, thats my Good Friday insight on the "Buyers Market", now here is another couple pictures from our recent cruise....ahhhh- still daydreaming....

St. Patty's Day and Easter

Okay, Okay....I keep wishing I was back on the Carnival Freedom, drinking a grenandine laden fruity (low in alcohol-high in price) "foo-foo" drink. But, I am here in Ocean City adding a new blog to my short collection.

This weekend was fun as Barb and I met friends for a Saturday celebration of St Patty's Day. Forgetting that Barb and I very little, if any Irish, heritage...we celebrated like we were fresh of a cruise ship from Dublin!! Starting with the Irish tradition of Bloody Marys(?), through Harps and many assorted other psuedo Irish traditions (car bombs...etc.) we had a blast.

The "huge" Ocean City, Md St. Patty's parade at 45th Street was a good time to mingle, and catch up with folks. Then we paraded north to 49th Street (guess where?) yep, Seacrets...for most of the rest of our green day. Beyond Seacrets my memory gets hazy...so, off into Spring we go!

This weekend we look forward to Good Friday, Easter and of course SPRING!!! Yee- Haaa....Just mentioning Spring puts a smile on my face. If anyone reads this and would like to join us at what will become a Spring Tradition...please come. On Saturday (22nd) at 10 am at our West OC office we will have a family friendly Easter Egg Hunt with prizes for the kids and a yard sale for the adults...and kids! All the proceeds from the Yard Sale will Benefit our favorite charity the Sunshine Kids!! I would love to see anyone there that mentions my BLOG...I think I'm the only reader??

Til' next time- Jay

FREEDOM!!!

Freedom we found to be a huge Carnival Cruise Ship that we just disembarked! Man, huge doesn't give this ship any justice on the "Big" meter! Barb and I had a great trip, stopping in Cozumel to swim with dolphins. Next up was Cayman Islands to visit Seven Mile Beach (not to be confused with 8 Mile in Detroit) and a longggggg visit with Breezes Bar. Then we were off to Jamaica, pretty island but the citizens are not a positive for there tourist industry, for sure. Pushy people, that made an idealic island, more like a deli in New York City.
As for the Cruise Director, man was I impressed. This guy's name is John Heald
and the poor guy came down with Bells Palsy on our first day. Apparently this is a very painful, and not to mention temporarily disfiguring condition, and he carried on through the entire week! Whatta' guy, tremendous asset to Carnival...when you get a sec....check out his blog.
Well, now I am back to reality and selling real estate in our beautiful Ocean City, Maryland!! 55 degrees and all...there is no place like home!!
I'm back bloggin'!! Jay.