New Jersey Association of Realtors

The best of both worlds seems to be the scenerio for both buyers and sellers. Allow me to explain.

On the buying side, i have spoken with people who have gotten amazing deals on waterfront. The first of which, were able to offer $276,000 for a nice size waterfront home in Brick, NJ. This is a foreclosure, and a knock-down, but the property value is extremely worth it. This particular home was sold in 2005 for approximately $565,000 then foreclosed. The bank then listed it at $275,000. They plan to build a new home for $200,000. That leaves them at a $476,000 cost.

However, the property's backyard is waterfront and frontyard is waterview. Homes in the surrounding area are currently going for approximately $500,000-800,000 with the home they plan to build. It is this type of smart investment that is available in this current market for those who are on top of the market and have a real estate agent who notifies them when properties like this come available.

Another waterfront purchase in Toms River that i have recently become aware of, is my own family. They have recently purchased a waterfront home for $430,000. This home is in move-in condition. Originally listed at $550,000.

The deals are out there! That is why it is important to have a knowledgeable real estate agent that keeps you updated. These homes go fast. Real fast! My advice, is not to procrastinate. If you find a home that you are very serious about buying, put in an offer.

On the Selling side, waterfront and oceanfront homes are moving. If you were fortunate enough to purchase a waterfront or oceanfront home at a great price in the past 8 years or so, you still stand to make a great profit. Don't be fooled by the Bubble that was created in the past 5-7 years. If you think that your home has lost a large amount of value since 2001 (say), it really hasn't. I tell my friends, look at your return on investment in other areas, and look at your current return on investment, if you were to sell your home now. Most of them will still make $100,000 – 200,000 now. Yes, compared to 2 years ago, when the market would have gotten them $200,000 – $350,000, it seems like a loss. But the fact is, those numbers were not realistic. They were a part of a bubble that burst.

So if you're thinking of buying or selling, amazingly, this is a great time for both. You just need to find the deals. My advice is to find a realtor that will give you personal attention and keep you updated.

Jeremy, Toms River

According to Trulia.com, New Jersey is the 5th most searched State for real estate. In New Jersey, Monmouth County ranks 3rd, and Ocean County ranks 5th of all counties.

One of the major factors for this, are New Jersey’s beautiful waterfront and oceanfront homes. Oceanfront, waterfront, bayfront, riverfront and lakefront properties are a great investment in today’s market. The re-sale value of any type of waterfront property has been less affected than non-waterfront properties in today’s economic crisis and that is why now is a great time to invest in real estate.

The turmoil of the stock market has many investors turning towards real estate investments, which they consider safe long-term investments. The real estate bubble has popped and home values have fallen to where they probably should be. So feel good in knowing that the price you will be paying for a home you’re purchasing now, is most likely a fair market price.

Another positive force that is on your side right now is the government. The government, many say, is projected to do everything it can to stabilize home values. After all, if they continue to allow home values to drop, homeowners will be paying substantially more on their mortgages, than their homes are actually worth. This is already happening at alarming rates and it would be in our countries best interest to define a bottom. 

The chance that we may be close to the bottom of the declining real estate market is great news for an investor looking to buy now. This means that you can purchase a home at nearly the bottom price while the government works tirelessly to stabilize that price for you, with hopes of eventually increasing home values. 

Now is a great time to invest in jersey shore waterfront homes. If you are thinking of selling your home and upgrading to waterfront on the jersey shore, you might have to sell for less than you wish, but in return, you can find great deals on waterfront property on the jersey shore. Ocean County and Monmouth County are two of the most popular counties in New Jersey which offer a wealth of waterfront homes to choose from. 

There is no doubt that oceanfront homes and waterfront homes have added to new jersey, ocean county & monmouth counties popularity throughout the national economic crisis. If you are thinking of buying, go waterfront!!

Rich – Brick, NJ

Even though it can be extremely difficult emotionally to move forward with purchasing real estate when others are not, it is important to look at the real facts to determine whether or not real estate would be a wise purchase. I have been in the business of selling and renting jersey shore real estate for almost 28 years, and during that time I have experienced several economic recessions. And without fail, the people who had the money, tuned out the nay sayers, and purchased then were considered geniuses a few years later when the economy recovered and appreciation ran rampant once again.. They had become wealthy.

In 1929, just as the Great Depression began, my grandmother purchased Whitelock Realty in Lavallette, and changed the name to Schlosser Real Estate. Tuning out the media and focusing on business was easier for her. There was no television, no Internet, only radio, snail mail, newspaper, and some bad telephone service. The people who purchased real estate and those who were able to hang on property already owned, well… I’m sure you know… came out way ahead when the economy recovered.

If you can tune out the negative voices, the reasons the Jersey Shore continues to fare well are obvious and numerous. A tangible investment used for pleasure… Gorgeous white sand beaches…70 miles of ocean coast line…70 miles of bay coast line….close proximity to the two major metropolitan cities of Philadelphia and New York City…and high area standard of living are just a few of the reasons. And it is very important to note that the jersey shore real estate market of the past and present has remained predominately dominated by true second home buyers who purchased or are purchasing with substantial money down or have paid or are paying all cash. Thus, the Jersey Shore market has been spared the speculative frenzy and bad lending practices which occurred in Florida , the greater Las Vegas area and other markets, and which collapsed like pyramid schemes.

Although the appreciation rate has slowed or remained flat at the shore, for the most part and for the reasons stated above, values have held and in some areas even appreciated a little giving sellers the opportunity to sell at or near the all time recent highs and buyers the opportunity to catch their breath, pick out a great property, negotiate a little and take advantage of great interest rates.

All in all, it’s a fine time to make your jersey shore move!

Andrea Schlosser