OCMD Calendar of Events for September

September 2015 Ocean City, Maryland
Events Calendar

Visit:   http://www.beach-net.com/events/ocean-city-maryland-events-calendar/2015/09.php                         for calendars of events in MD & DE on their web site

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September 2015

Labor Day Weekend Art & Craft Show

Wings and Wheels Expo

September 05, 2015
12724 Airport Rd.
Phone: 410-213-2471

Location: West Ocean City
Type: Family

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Private aircraft, custom cars, and antique military vehicles will be on display and the owners will be available for conversation.  Food, beverages, and a variety of crafts will be available for purchase.  Proceeds benefit the Huey Memorial.

For more information, contact Steven Habeger at 443-880-2413 or ocaawingswheels@gmail.com.

Hours:  10 am - 2 pm

Admission:  $5 per person, children under 12 free

OC Cruzers Car Show & Music

June 14 - September 27, 2015
Somerset Street near Boardwalk
Phone: 410-289-7739

Location: Oceanside Boardwalk (Inlet - 27th)
Type: Free Fun

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Ocean City Cruzers will display approximately 15 vehicles along Somerset Street Plaza.  The owners of the vehicles will supervise and educate spectators about their older cars.  Live music or DJ will be provided.  For more information, call 410-289-7739.

Dates:
June 14, 28
July 12, 26
August 9, 23
September 6, 27

Times:  2:30pm - 6:30pm

Entertainment Schedule TBA.

Flounder Pounder Fishing Tournament

September 06, 2015
Bahia Marina, 21st Street

Website: http://www.bahiamarina.com
Location: Bayside (Inlet - 27th)
Type: Fishing

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Flounder Pounder Fishing Tournament

One-day flounder fishing tournament that is a lot of fun and great for the kids!  You may fish from your own boat or rent a skiff, skimmer, or pontoon from the marina if you wish.  For more information, visit www.bahiamarina.com.

9/11 Parade of Brothers

September 11, 2015
Boardwalk from 27th St to N Division St
Phone: 443-614-3425

Location: Oceanside Boardwalk (Inlet - 27th)
Type: Family

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This annual event is a motorcycle ride and memorial service to commemorate 9/11/2001.  Parade is Friday, September 11 from 8:30 a.m. until 1:00 p.m. on the Boardwalk from 27th Street to N. Division Street.

September 11th Memorial Spot Fishing Tournament

September 11, 2015
12940 Inlet Isle Lane
Phone: 410-213-1121

Website: http://www.ocfishing.com
Location: West Ocean City
Type: Fishing

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Fun for kids and adults of all ages!  Fish from the docks, no skill needed.  $5 per angler.  4:00 - 7:00 p.m.
For more information, call 410-213-1121 or email ocfc@ocfishing.com.

OC Bikefest

September 17 - September 20, 2015
40th Street and the Inlet
Phone: 304-284-8244

Website: http://www.ocbikefest.com
Location: All of Ocean City
Type: Convention Center

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OC BikeFest will bring national entertainment and bands, stunt shows, bike builders, vendors, food and beverage to the Boardwalk, OC Convention Center, and the Inlet.

Admission:
Inlet Only - $30 Event Adult Pass, $25 Day Adult Pass, $15 Ages 12-21, Under 12 free.

Inlet Hours:
Thursday, 11 am-8 pm; Friday & Saturday, 10 am-8 pm; Sunday, 10 am-5 pm

Convention Center Hours:
Thursday, 11 am-8 pm; Friday & Saturday, 9 am-8 pm; Sunday 9 am-5 pm

For more information, please visit www.ocbikefest.com or email chase@ocbikefest.com.

Sunfest

September 24 - September 27, 2015

Website: http://ococean.com/sunfest
Location: Inlet Lot, south end of Ocean City Boardwalk

Sunfest Kite Festival

September 24 - September 27, 2015
Beach between 3rd & 6th Streets
Phone: 410-289-7855

Location: Oceanside Boardwalk (Inlet - 27th)
Type: Festivals and Fairs

Sand Castle Home Tour

September 24 - September 25, 2015
Phone: 410-524-9433

Website: http://artleagueofoceancity.org
Location: All of Ocean City
Type: Arts and Museums

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11th Annual Sand Castle Home Tour
September 24-25, 2015

There is a great variety of homes from ocean front to bayside, family homes to penthouses and beach retreats. The tour is a self guided driving tour and can be completed at the tour takers own pace.  The tour is limited to the first 1,000 people, so be sure to reserve in advance.  For more information, call 410-524-9433.

Gem, Mineral, and Jewelry Show

September 25 - September 27, 2015
4001 Coastal Hwy.
Phone: 757-641-2124

Website: http://www.treasuresoftheearth.com
Location: Bayside Mid-town (28th - 90th)
Type: Convention Center

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Treasures of the Earth Gem, Mineral and Jewelry Show

Fine jewelry, fashion jewelry, sterling silver jewelry, wire-wrapped jewelry, beads, pearls, loose gemstones, minerals, crystals, fossils.

Hours:
Friday - 12pm-6pm
Saturday - 10am - 5pm
Sunday - 10am - 4pm

Admission:
Adults - $5
Ages 16 and under - Free
Military - Free with ID

For more information, contact Ellen White at 757-641-2124 or ellen@treasuresoftheearth.com or visitwww.treasuresoftheearth.com.

Park Place Jewelers Treasure Hunt at the Beach

September 26 - September 27, 2015
Park Place Jewelers, 3rd Street Beach
Phone: 410-289-6500

Location: Oceanside Boardwalk (Inlet - 27th)
Type: On the beach

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Dig in the sand for buried treasure at the beach in front of Park Place Jewelers on 3rd Streets!  Prizes include jewelry, diamonds, and gemstones, figt certificates to area restaurants and retailers.  Must register in-person at either Park Place Jewelers location (registration starts Wed., Sept. 23).  Up to 100 participants per hunt and must be at least 18 years old.  Free entry with $15 donation to Believe in Tomorrow Children's Foundation.  For more information, call 410-289-6500 or visit www.parkplacejewelers.com.

Saturday - 4pm - 5pm
Sunday - 1pm - 2pm

Money Saving Maintenance Tips for Rental Properties

By Silvia Englert, General Manager at Houserie.com

RISMEDIA, Wednesday, August 05, 2015— One of your responsibilities as a landlord is to take care of maintenance and repair issues in your rental. Regular maintenance can help you catch small problems before they turn into big expansive problems and will in the long run save you lots of money, time and reduce the number of tenant complaints!         Buying A Home VS Renting: Weigh All the Factors   consider options when looking at beach resort real estate.  Ask Long & Foster Real Estate - Ocean City for advice on the local market.   Visit:   http://www.susanantigone.com/ Here are some maintenance tips that can save you money: 1. Test all smoke and carbon monoxide detectors regularly.  Set a regular schedule to test all detectors. Also be aware that the average lifespan of a carbon monoxide detector is five years, and of most smoke alarms 10 years. Replace according to manufacturer recommendations. These devices save lives and can help minimizing damage by alerting people when there is a fire! Be aware that if these devices are not in working order, you can face legal action.  2. Have a thorough electrical inspection done by a qualified technician at least once every 10 years. This inspection will reveal any problems with unsafe wiring and circuits that could cause an electrical fire. In addition, if your rental unit comes with appliances, make sure that these are in good working order before new tenants move into the property. 3. Check for water damage and leaks. Check for leaks and soft spots after heavy rain storms. Also look for signs of water around windows, showers, and toilets and check under sinks, boilers, and water heaters. Identifying water leaks early can prevent major damage to walls, ceilings, and a tenant’s possessions. It also prevents dangerous mold! 4. Inspect shower caulking and grout between tiles. Wear and tear on bathroom and kitchen surfaces can result in mold and even cracking of tiles. Prevent any moisture or mold from getting below the surface by making sure the areas around tiles, tubs and sinks are sealed. 5. Inspect and treat for pests on a regular basis. Even if you do not currently have a pest problem, you should exterminate on a regular basis to prevent such problems from occurring. Tenants hate seeing bugs in their home and keeping up with pest control will prevent a larger pest problem later on. In addition, regular termite inspections should be performed as well. Pest control is usually best left to a professional. 6. Inspect heating and air conditioning systems regularly and replace air filters more often. Heating or air-conditioning systems should be inspected at least once a year. This will help to ensure that such systems are able to run safely, as well as efficiently. Filters should be replaced regularly at least a couple of times a year. A simple $15 filter for a furnace or air conditioner can potentially save a landlord thousands of dollars in repairs. Dirty filters can increase your utility bill by causing the system to work harder or can lead to malfunctions in the systems. Replacing the filter will help prevent the air duct from becoming contaminated. If clogged, the ducts will need to be professionally cleaned, and that is an expense you do not want to incur. 7. Paint your property before damage occurs. Painting inside and out does not only make your property look better but it can actually help to prevent water damage, mold and rot. If you have noticed that the paint on your property has started to peel, paint immediately! 8. Flush your water heater. Once or twice a year, you should drain and flush your property’s water heater. This needs to be done to remove the sediment that can build up in your unit which can reduce the efficiency of your water heater and clog the drain valve. Replacing a water heater is expensive!  By spending a little time and money now to perform property maintenance, you can save yourself a lot of time and money in the future. Another way to save money in the long run as a landlord is to perform a comprehensive tenant background screening on every prospective tenant. For more Information, please visit www.houserie.com, follow and like us onFacebook or visit our Landlord Blogs. RISMedia welcomes your questions and co

Selling Your Home? Price It Right From the Start!

by The KCM Crew on August 3, 2015 

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

There is no “later.”

Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered the their price. In his article, Listing Price, Time on Market and Ultimate Selling Price published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think, “Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it!

One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.

A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right

Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Look for an agent that will take the time to simply and effectively explain what is happening in the housing market and how it applies to your home.

You need an agent that will tell you what you need to know rather than what you want to hear. This will put you in the best possible position
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Summer Vacation Time? 8 Tips for a Financially Sane Vacation

8 Tips for a Financially Sane Vacation

By Donna Freedman on July 14, 2015 Money Talk News

Photo (cc) by ratulm

Have you taken your summer vacation yet? Or has your vacation taken you?

Some people travel on autopilot. You cart the kids off to Disneyland because you’re supposed to? Or, you fly to Europe because everyone says you should see Paris before you die.

But what do you want?

“Most of us don’t take the time to think about what would make us happier — what kind of vacation would be relaxing, would recharge our batteries, would be a great time with family,” says Donna Skeels Cygan, a Certified Financial Planner and author of “The Joy of Financial Security.”

Cygan suggests having a “values talk” with your spouse and/or family before planning a vacation. Clarify what everyone expects: Adventure? Relaxation? Roller coasters?

The same holds true for singles. Ask yourself what kind of vacation fits your personality instead of listening to everyone else’s preferences.

The trip you want could be well within reach. Whether it’s a staycation or atrip to Sicily, use these tips to cut costs.

1. Book smart when flying or renting a car

There is no need to pay full freight when you fly, thanks to websites likeTripAdvisor, Expedia and CheapOair.

You also can learn more about cutting flight costs by reading “12 Ways to Land Cheaper Airfare.”

Plan to rent a car? Use discount travel websites, and check your auto insurance to see if you can decline additional coverage on the rental car.

If you need a vehicle for just a day or two and the quoted rate is exorbitant, rent a pickup from U-Haul for $19.95 a day.

A car-sharing service like CityCarShare will let you rent for only a few hours. Some rental agencies, including Enterprise and Hertz, also have gotten into the sharing business.

For more tips on getting around, see “On Your Dream Trip? You Don’t Need a Rental Car.”

Should I Rent My House Instead of Selling It?

by The KCM Crew on July 13, 2015 in For Sellers

Ocean City MD Homes for Sale through ShoreFun4u and Long and Foster Real Estate will help you make the right decision for your needs - rentals vs private.

The results of Fannie Mae’s June 2015 National Housing Survey, were just released showing that more and more homeowners are warming up to the idea that now may be a great time to sell their home.

The amount of respondents that stated that now is a good time to sell rose three percentage points to a survey high of 52%; which may translate to a healthier market as more homes are listed in the coming months.

At the same time “the percentage of respondents who expect home rental prices to go up rose to 59% – a new survey high.” Doug Duncan, senior vice president and chief economist at Fannie Mae, gave this insight: “The expectation of higher rents is a natural outgrowth of increasing household formation by newly employed individuals putting upward pressure on rental rates.”

There is a chance that those who believe rental prices will rise may consider renting their house rather than selling it at this time.

However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for. Are you ready to be a landlord?

Before renting your home, you should answer the following questions to make sure this is the right course of action for you and your family.

10 Questions to ask BEFORE renting your home

1. How will you respond if your tenant says they can’t afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).
2. Because of the economy, many homeowners cannot make their mortgage payment. What percentage of tenants do you think cannot afford to pay their rent?
3. Have you interviewed experienced eviction attorneys in case a challenge does arise?
4. Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?
5. Will you allow pets? Cats? Dogs? How big a dog?
6. How will you actually collect the rent? By mail? In person?
7. Repairs are part of being a landlord. Who will take tenant calls when necessary repairs come up?
8. Do you have a list of craftspeople readily available to handle these repairs?
9. How often will you do a physical inspection of the property?
10. Will you alert your current neighbors that you are renting the house?

Bottom Line

Renting out residential real estate historically is a great investment. However, it is not without its challenges. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale.