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Monica McNamara

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Ocean City, Maryland Hook Bracelet

04-17-09
Monica McNamara

There are many wonderful businesses in Ocean City, Maryland that are open on a year round basis and have been a staple in the area for many years. One of those businesses is Park Place Jewelers. This fabulous jewelry store is owned and operated by Todd and Jill Ferrante.

They have created a niche for themselves at the Beach, and one of their signature pieces is the Ocean City Hook collection of jewelry. I particularly like the O.C. Hook Bracelet. It's a gold bracelet with the interlocking letters O & C. It is a statement of sun and fun here in Ocean City, and the hook it has on your heart. Additionally, the 10 wraps of gold represent the 10 mile length of our Ocean City portion of the peninsula. It's very cool.

If you have occasion, stop in and see Todd and Jill. They are knowledgeable and helpful, and very great to work with.

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No Pain, No Gain

04-08-09
Monica McNamara

I have been out of commission for 5 weeks this Thursday (4/9/09). I had shoulder surgery, and boy oh boy, I did not know what to expect. I have a lot of ideas to write about, but only one finger to type with, and that's not going so well.

In as brief a fashion as I can, here are my thoughts:

I hate physical therapy. (I know it's good for you).

I've had children, and this was worse.

I miss driving.

I wish I could put on my socks, get dressed alone, take a normal shower, and shampoo and blow dry my hair. I am sure my husband feels the same way.

I miss going outside and seeing other people that aren't my doctors.

Yes, I am a really big baby, and yes, I am trying to mentally chill out because my body has forced me to.

I live in a beautiful city (Ocean City, Md.), and I can see the beach and ocean right now. Life is good.

Yes, there are many many others with much more horrible issues to deal with.

Maybe I will stop feeling sorry for myself since I put my thoughts into words.

Yes, I'll be back.

I would be remiss if I didn't thank God for all the wonderful people in my life.

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6 Reasons Why It's Still a Good Time to Buy

04-03-09
Monica McNamara

Daily Real Estate News | March 30, 2009 |

The housing market is looking healthier. Here are six reasons why now is the time to jump into the market.

1. Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn't owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available.

2. People have to live somewhere. About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn't soar.

3. Borrowers leverage their investment. If you put $10,000 into the stock market and it earns 10 percent, you've earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you've made $10,000.

4. When prices come back up, you'll have instant equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.

5. Mortgage costs stay the same. If you get a fixed-rate mortgage, the monthly payment stays the same - while everything else, including rent, goes upward.

6. You own it. There is something comforting in the notion that your home is your own. You can paint it any color you want, let the dog run in the back yard and hang a swing for the kids in the front.

Source: The Wall Street Journal, June Fletcher (03/27/2009)

 SEE AVAILABLE PROPERTIES IN OCEAN CITY, MARYLAND

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Tax Benefits of Property Ownership

03-06-09
Monica McNamara

I'll preface this with saying I am not a tax accountant, and I ascertained this information from the ever wonderful real estate resource REALTOR.ORG.

The tax deductions you are eligible to take for mortgage interest and property taxes greatly increase the overwhelming financial benefits of owning real estate.

Let's do some math.

Assume:

$9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7%, with a fixed rate loan).
$2,700 - Real Estate Property Taxes (at approximately 1.5% on $180,000 assessed value).
--------------------------------------------------------------
$12,577 = TOTAL DEDUCTION

Than, you have to multiply your total deduction by your tax rate.

For example, at a 28% tax rate: 12,577 x 28% = $3,521.56

$3,521.56 = AMOUNT YOU HAVE LOWERED YOUR FEDERAL INCOME TAX (at 28% rate).

Keep in mind - your mortgage interest may not be deductible on loans over $1.1 million. Also, deduction amounts are decreased when your total income reaches a certain level.

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Are You Feeling A Little Irish?

03-03-09
Monica McNamara

Ocean City Md. St. Patrick's Day Parade

We are all a bit Irish on St. Patty's Day. The wearing of the green seems to bring out high spirits and festive behavior regardless of how much or how little Irish you really are.

The 29th annual Ocean City Maryland St. Patrick's Day Parade, will be held on Saturday March 14, 2009. The parade begins on 60th Street at 12:00pm. It heads south to the 45th Street Village and the reviewing stands. However, you don't have to wait until noon to be feeling that strong Irish feeling. The annual Irish Festival starts at 11:00am also at the 45th Street Village.

For good food and good fun, come visit our Bonnie Town of Ocean City for the weekend of March 14th!

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