What is the sales market like for
Long Beach Island Homes?
When will prices be at their bottom?
How do I know I am not overpaying?
Is there mortgage money available?
Whether it is a buyer’s market or a seller’s market, those properties that are priced right, sell. Home sales on Long Beach Island are no different. From 2006-2009, prices of single family homes fell approximately 16%. Prior to 2006, prices were escalating at incredible rates; 20-25% in a single year. Everyone knew this could not last. The good news – as prices adjusted, more buyers were able to realize their dream of owning a vacation home on Long Beach Island.
When will prices be at their bottom?
All indications are, we may be there now. The average sold price of a single family home in 2010 is about equal to the sale price in 2009. This is the first time in 5 years we have not seen a drop in prices. And, more homes are selling. We are working with many potential buyers who are just waiting for the “right” time to make their Long Beach Island home purchase. This may be the best time to buy!
How do I know I am not overpaying?
When you find the right property, we will show you how to determine the fair market value and come up with an offer to purchase price that makes sense to you. Investment conscious buyers know that a Long Beach Island home purchase is a wise decision. Inventory is still plentiful; don’t miss this opportunity.
Is there mortgage money available?
There is plenty of mortgage money available for those purchasers with a steady job and good credit. Our mortgage company works with a number of lenders with a variety of mortgage packages. They can find the right one for you. Visit www.vandykmtg.com for a no obligation quote.
This is a great time to realize your dream of an LBI vacation home. Prices are down, selection is up, mortgage money is available and interest rates are low.
We are happy to answer any of your questions. Feel free to Call us at (800) 222-0131.
