With names like Ocean Township, Ocean Gate, Ocean City and Ocean County, New Jersey seashore communities are attracting homebuyers like seagulls.
"Ocean Township is an 11 square mile community which includes many different sections: Wayside, Oakhurst and Wanamassa," explain Realtors Karen Hollering and Randi Dickman, "It is very close to the beaches and Routes 18, 33, 35, 36 and the Garden State Parkway. It is bounded by Neptune, Tinton Falls, Long Branch, West Long Branch and Eatontown. Convenient rail connections and commuter bus lines are nearby. There are two elementary schools, one middle school and one high school. There are five private and parochial schools including Jewish Yeshiva and a Catholic parochial school."
They suggest, "We are still in a seller's market, but the market is changing. We are still seeing prices increasing on homes that are priced under $400,000, especially with townhouses. Homes in the higher ranges seem to be taking a little longer to sell, on average of 45-60 days. Prices in the higher range are stabilizing. There is a major lack of inventory in all the price ranges. There is still buyer demand and when there is a lack of inventory and interest rates remain low, that will keep the prices of homes stable. Buyers beware, this doesn't mean a downward trend of prices. If you wait too long for the price to come down on that perfect house, you will miss out."
Says Realtor James I. Marshall, "If you're serious about buying, don't leave the checkbook at home, and be prepared to move quickly. A well-priced property won't last more that a week or three."
Marshall boasts, "June's issue of Money Magazine places Ocean City, NJ as one of the four hottest zip codes in the Nation, projecting a 17.5 percent appreciation this year! The popularity of resort real estate has fueled real estate values on this island resort. Many families are taking advantage of some very attractive adjustable rate mortgages.
He advises, "Having a prequalification letter from a lender never hurts. And don't be surprised if homes are selling for more than asking. In Ocean City you'll find that new construction blends with Victorian architecture to provide the warmth and comfort you'd expect from a seashore resort. Ocean City offers single-family neighborhoods as well as traditional duplexes, high-rise condos and condominium complexes."
"Over the past several years, Ocean Gate has seen a strong increase in home values," says Realtor Barbara Farthing, "This trend continues with the added pressures of a large number of buyers seeking investment homes, year around homes and vacation homes. The area is still experiencing a lack of inventory but that is just now starting to ease. A home that is priced correctly for this market will usually sell quickly and for close to asking price."
"Ocean County is experiencing a very active market," says Realtor Robert Allison, " with more than 4,000 properties currently up for sale. In the past two months more than 850 properties have closed. Single-family homes are coming onto the market daily and at every spot on the pricing spectrum. Buyers can find properties starting as low as $119,900 or as high as $11,900,000. Condos are also widely available in Ocean County and have a price range from $90,000 up to $775,000.You could easily make a full day of site seeing and enjoying the many activities the county has to offer while house-hunting."