Here is a link o the sheriff's sale for CM County. The Bank properties are taking 9+ months to hit the market. We are in the 3rd inning of a 9 inning game.

Be patient, this summer is not the time to buy. It is still difficult to make offers at historic prices because they are considered lowball. By August more REOs and the ARM resets will make it clear to people that things aren't going to get better anytime soon. When Wkly Rent = Mortgage we will be back to normal prices (econ 101).

"It hasn't been that way for 10 years (rent=mortg)"
Ever hear of the greatest RE Bubble in history?

"They aren't making anymore shore property"
They did BEFORE the bubble?

"We have water" (my personal favorite)
"Southern CA and FL? (not to mention Detroit) LOL

Here is a link to why we will see the price drops:

http://patrick.net/housing/contrib/JSurridge.pdf

Bid what you think a home is worth. I bid on an REO, bank turned me down. I wouldn't counter higher, they came back a few months later.

While Ocean City is seeing more short sales and forclosures then they used to I do not think it is equal to the national level. One thing to keep in mind is that if you are looking for a quick sale forclosures and short sales may not be the way to go. The best way to get a good deal in Ocean City is to find an agent that you can trust and ask them if they know of properties that fit your criteria. and then make an offer with a lower price and a quick settlement. Not all owners will take the lower price, but some will and that is where you get the good deals that settle quickly. Hope this helps

Yeah...havent really found that site to be too useful/consistent (the property I am looking at is not on there)
Was wondering if any agents had any local color/commentary.

http://www.realtytrac.com

anyways

good luck