Sea Isle City Reflections

It has been a tough few years for real estate at the Jersey Shore, but this year so far, we have seen a slight increase in sales in Sea Isle City. Due to the economy and the unstable stock market, and CD’s that are barely paying 2.5%, many investors have come back to buying at the Jersey Shore. The interest rates are great, and the prices have come down to where people can afford them once again. If you are not sure where to invest your money, try looking in Sea Isle City and not only have a sound investment, but one you will enjoy time and time again. Call Joe Prato at 609-602-5147 for more details.

Overall, 2006 was a very slow year with property values coming down and leveling off. Most buyers waited to see what was going to happen and how low the prices would come down.

We had a huge inventory of new construction because purchases and permits for the new construction occurred in the fall of 2005 before the slow down started. This lead to a large number of new construction properties being completed in the spring and summer of 2006, and not too many buyers. Owners waited, and eventually lowered the prices until they started to sell. November and December of 2006 started showing an increase of interest in these properties. Our office had a good December compared to the rest of the year. It seems that buyers are starting to purchase again.

My advise to anyone who is still interested in owning a property at the Jersey shore is to start looking now. We are only one week into January and the calls for properties are starting to come in. The news media is suggesting that the 18-month market correction that followed the four-year housing boom has just about run its course. Interest rates are still very reasonable, (about 6%), which makes the conditions very good to buy a property at the shore. I am personally looking for another investment property because I believe this is the right time to do so, before everything starts taking off again. 2007 looks to be a good year for Real Estate at the Jersey Shore.

This is something that was discussed in our office the other day. My broker had a discussion with his financial advisor about the Real Estate and Stock Market

His financial advisor made an interesting comment to him. He said: “Buying stocks are just like buying real estate. For some reason, everyone wants to buy their shoes on sale, but nobody wants to buy a stock – or real estate- when it’s on sale!”

I also find this to be true.

Real estate has appreciated on average 17% per year over the past 25
years in Sea Isle City. The market saw a downturn in 1991-1992, and now
again in 2005-2006. It seems to me that properties are on sale right now.

Interest rates are down again – 30 year fixed rate is about 6.5% with 0
points.

If you are interested in purchasing a property at the Shore, and hadn’t
done so prior to 2001; NOW is the time to buy. I believe the next six
months (prior to the Spring season) will be the best time to purchase a property.

Don’t wait for EVERYBODY to get back in the market because once this starts to happen, prices will start to rise, and the opportunity to buy a property on sale will be gone.

Let me help you be a part of the group who will talk about the great opportunity you saw when real estate properties were on sale at the Jersey Shore.

I look forward to hearing from you.

Sincerely,

Joe Prato

As many of you are aware, the real estate market in Sea Isle City, along with almost every other area, has leveled out over the past several months. By doing so, this leaves a great opportunity for buyers to take advantage of the market at the shore. With low interest rates, reduced prices and motivated sellers, opportunity knocks.

If you have missed the opportunities the shore has had to offer in the past, don’t miss out again. As an investor, I’ve just put in an offer on an investment property in Sea Isle myself. The conditions are great for buyers.

According to CNNMoney, one of the best locations for real estate growth through 2007 turns out to be South Jersey’s Vineland/Millville/Bridgeton region which they foresee as having an 8.5% price growth. One of the reasons for this regions growth is its location. Because it is located about halfway between Philadelphia and the South Jersey Shore points (Atlantic City, Cape May County, etc.), many professionals are choosing to have the best of both worlds: a job in Philly and a short drive down to the shore.

The Ocean Cove, located in Sea Isle City at 85th and Landis Ave. is a private community of single-family homes located in the quiet south end of Sea Isle City. Each home features upgraded amenities and has a shared private pool, which is new to Sea Isle. These units start at $999,000.00, and are a great investment at the Jersey Shore. Call Joe Prato for more information and a brochure at 609-602-5147.

Spring is in the air, and spring also brings on the thought of having a summer home at the shore. Investors are starting to look at the Jersey shore once again for a property that will give them income, offer appreciation, and on the down times allow them to have the time of their lives relaxing at the beach.

Investing in Real Estate has been a proven positive for many, many, years. Many think that real estate is over priced. This is not the first time or the last we will see this trend. But no matter how and what is said, history proves that real estate always becomes a wise investment.

When I’m asked to sell a home, I like to provide the seller with as many tips as possible to get them the best possible price for their home. Recently, I compiled a list of these tips into an article that I’ve posted on my main page called Selling Your Home: Tips from the experts

First, I give suggestions on how to improve curb appeal (the first impression matters!). Next, I give tips for how to make the inside of your home as neat and clean as possible. Finally, I suggest that you pay special attention to the two most important rooms in the house: kitchen and bathroom.

Check the article out here.
http://www.sea-isle.net/selling-your-home.html

I’ve sold real estate in Sea Isle City for the past ten years and everyone is now questioning if Sea Isle, along with every other city, is in a “Boom” or “Bust” in terms of Real Estate? The media is creating the “Bust” mode by all the attention it is giving it. This morning on “Good Morning America”, Diane Sawyer was doing a segment on “The tricks of the trade” when it comes to Real Estate Agents, and at the very beginning, she mentioned that Housing Sales across the nation has been the highest ever the past few months. She immediately went into the segment and had nothing else to say about this very strong fact.

Had the housing sales been low or the lowest in the past few months, I can say without hesitation, that this would make the headlines and have several segments about it.The media creates the situations that happen because of their sensationalizing a topic. The media knows this will get the attention of their viewers and therefore get sponsors and advertisement.

Sea Isle City has a lot of properties for sale, and I believe the reason is because people panic over what they hear from the media. Many owners of properties that would have normally not been ready to sell are now putting their properties on the market because the media states that the bubble has busted and the real estate market is in for a bad time. Had the owners not heard this, the market would not be flooded with inventory.

On the flip side, the potential buyers are listening to the media and either deciding that it is not a good time to buy a property, or that there are bargains to be had and coming in with ridiculously low offers on properties. Either scenario results in properties not being sold and inventory being high.

I compare this situation to many years ago when the media told their viewers that there was going to be a shortage on toilet paper, so everyone went out and stocked up on toilet paper, which created a shortage. The media has a lot of power in influencing their viewers.

In conclusion, I feel that the market in Sea Isle City is still strong, and once the buyers and sellers realize that property values are not going to “Bust” down at the Jersey Shore, buyers will once again start to purchase their “Dream Beach House”, and both buyers and sellers will be happy with their real estate investments. Everyone wants to own a part of the Jersey Shore!!!