Home Buying in 08701>Question Details

NJ Buyer, Home Buyer in New Jersey

Looking to buy on the NJ Coast

Asked by NJ Buyer, New Jersey Mon Aug 29, 2011

Should I wait a couple of months now that the storm has badly damaged Pine Beach / Ocean Gate? My guess is most home owners will be submitting claims and I do not want to buy a house which was flooded and was not repaired.

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Answers

7
Buy now don't wait. This is the best time to get a good deal. Owners do not want the carrying cost of the winter months. Tom
0 votes Thank Flag Link Fri Sep 28, 2012
Here in Ocean City, NJ, storm damage was not a problem. Now is a great time to buy here. Mortgage rates are aat historic lows and the prices have never been better! I invite you to come soon and check "America's Greatest Family Resort"! It also is a great place to live year round! September and October are truly glorious here! The crowds are gone and the water and weather are still warm. Gone is the summer heat! There is plenty to do and this little 7 mile island is clean with a great school district! If you'd like someone to show you around I'd be happy to help!
Joanne Bernardini
Keller Williams Oceanside
609-947-2451
0 votes Thank Flag Link Wed Aug 31, 2011
Thankfully there wasn't a lot of damage in this area. I live in Forked River on the water and we didn't have any flooding. Start looking at homes now prices are still dropping and mortgage rates are historically low. There are some great short sale buys and if the property is a Summer home the owners might want to sell now that the season is winding down.
Find a full time Realtor to work for you and if you are looking at water front property view the property from the water.
0 votes Thank Flag Link Wed Aug 31, 2011
Dear NJ Buyer,

If you are interested in buying in the short term, then begin visiting open houses now on the weekends. These homes that are open to the public are ready to be shown and, most likely, have not suffered flooding and major storm damage. If the owners are selling the properties damaged and "as is", then the storm results may be quite obvious. You are wise not to pursue a property unless the claim activity has been satisfied with the current owner. You will then know that the subject is being conveyed in precise terms and price. Ask to see a Seller's Disclosure so that you can review all known conditions and past repairs/replacements that the owner has disclosed and signed off on. You should also begin to select an agent to work with by searching the internet to find a well qualified agent who is actively listing and selling, working full time in your areas of interest. This way you will likely find an agent who is very knowledgable about the inventory, storm history, and sales history to guide you and facilitate the appropriate selection and negotiation processes. The Jersey shore can be a fabulous investment, providing years of enjoyment and return on your investment. Best wishes to you in your search!
Web Reference: http://www.BeckyBoomsma.com
0 votes Thank Flag Link Tue Aug 30, 2011
NJ Buyer,

I certainly don't recommend buying a home with existing flood damage but it would be to your advantage to check out some properties that you are interested in that are on the market so you can see for yourself the extent of the damage should another hurricane or tropical storm come in the future.

I live in a town that has been severely impacted by the river flooding and if I were in your position I would want to know which houses were damaged during the flood and which were not so I can make an educated decision when buying.

Good luck,

Gina Chirico, Sales Associate
Lattimer Realty
Gina@GinaChiricoRealEstate.com
0 votes Thank Flag Link Mon Aug 29, 2011
your thinking is right, but if you have a special house you want, go check it out.. now may be the time...
I cover this area of ocean county, if you have one or want to see some, contact me.
Bruce
0 votes Thank Flag Link Mon Aug 29, 2011
Now is a good time to look, since you will be able to witness for yourself which houses flood there, and not just take the seller's word for it.

Jane
http://www.RealTerrific.com
0 votes Thank Flag Link Mon Aug 29, 2011
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