| Jersey Shore Real Estate - It's A Buyer's Market In Sea Isle City |
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| Written by Stephen Daniels |
| Saturday, 09 January 2010 11:13 |
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Due to the recent economic crisis, the real estate market is still in a fragile state. It is getting better, but it is a buyer's market throughout the country and will likely remain that way for some time. The popular vacation town of Sea Isle City, New Jersey is no exception to the rule.
Due to the recent economic crisis, the real estate market is still in a fragile state. It is getting better, but it is a buyer's market throughout the country and will likely remain that way for some time. The popular vacation town of Sea Isle City, New Jersey is no exception to the rule. With near historical lows on mortgage rates for qualified buyers and property values that have rolled back to 2003 values, many real estate investors see this market as an ideal time to acquire vacation rental properties or second homes, and Sea Isle City is certainly worth consideration for such an investment. The Jersey Shore is a popular Eastern Seaboard vacation destination for Philadelphia and New York City residents due to its proximity and its stunning beaches of white quartz sand. Even through the current economic troubles, this region has maintained a prestigious and luxurious reputation, drawing young socialites, college students, families, and all kinds of other tourists with its many assets - charming seaside communities, boardwalks full of family attractions, unique festivals, fine dining, boutique shopping and a thriving live music scene. Situated on a barrier island in Cape May County, the southernmost county of New Jersey, Sea Isle City boasts relatively mild winters as well as slightly lower temperatures than the rest of the state during the summer. It has about 3,000 year-round residents, giving it a small-town feel - a perfect place to escape from the city and relax. Most of the real estate available consists of vacation rentals owned by investors as well as private vacation homes. While it is best known as a summer beach hotspot, the town is starting to be recognized as a peaceful winter getaway, and offers many spring and fall activities as well. As the Jersey Shore's reputation as a desirable vacation spot grew over the last decade, so, too, did property prices. Sea Isle City definitely was a part of this boom, but it wasn't exempt from the economic issues facing that the rest of the country. Sea Isle's tourist industry continues to thrive, but now, rental properties can be purchased at far lower prices than has been possible for some time. It could very well be several years before we see a marked increase in property values, given today's economic climate. It is important to remember that not just any property is a good buy. You must understand average rental rates for homes in the area before deciding to invest. An experienced Sea Isle City real estate professional who is knowledgeable about current vacation rental rates will be able to assist in identifying properties with the best possibilities for return on investment. The recent economic downturn has scared many people out of investing in vacation homes as well as other real estate, allowing some savvy investors to take advantage of the glut of properties on the market. The right purchase of Sea Isle City rental property could bear much fruit over the years for prudent real estate buyers. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Landis Company is your Sea Isle City, New Jersey Real Estate for sale and Summer Rentals Headquarters, specializing in seashore condos, townhouses and single homes for rent or for sale on the Jersey Shore. Powered by SEO 2.0 Services |