Home Buying in 08087>Question Details

Patricia, Home Buyer in Ocean County, NJ

We were looking at a townhouse in Little Egg Harbor NJ. I noticed many townhouse for sale in the same develop

Asked by Patricia, Ocean County, NJ Sat Mar 15, 2008

ment. Should that be a concern.

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13
Good morning Patricia,
Regarding purchasing a townhome in Little Egg Harbor, It is a great time for a buyer in any area, there is a great variety on the market in many different developements. that give you the best choices Your conserns should be what your needs and requirements are. Is the purchase for a rental property, second home, or your primary home. Take your time and look at all the developements to see which best fit your tastes, living space, amenities along with location. Consider the price, what they are rented for and how many are used as rental properties, asoiciation fees, taxes and location. Then see which are best priced (by comparing) with all the amenities you need in the location that is best for you. Have your agent show you the current solds within the developement within the last 5 months. I personally have been marketing and selling real estate in Little Egg Harbor and Tuckerton area for 21 years now. I would be happy to help. Good luck on what ever you decide. Should you decide to contact me, my credentials and contact inofrmation click on my name to the right.
2 votes Thank Flag Link Sun Mar 16, 2008
True, there a lot of Town Homes available in the same developments. But that holds true everywhere not just in Little Egg Harbor Twp. It's a buyer's market now and what that means for a buyer is you have your choice of a wide variety of Town Homes and you will probably be able to buy one at the 2004 price range. A year from now the interest rates may be much higher than they are now and we really don't know if the prices will rise or fall a year from now. Please visit my website below for valuable area information and marketing trends. If I can be of any assistance to you do not hesitate to give me a call!
1 vote Thank Flag Link Wed Jun 4, 2008
Doom and Gloom. lol
Think the people that bought in 2005 were told then was a good time to buy? Many are now bankrupt.
Pat, Be smart. Don't take advise from an Agent that makes money from people buying or from me. Read the T2 and make your own decision. Prices are not going up for 5 years, why rush? Wait until fall and see what happens. Supply and demand says all those unsold Townhouses will cause prices to drop further. That is common sense.
1 vote Thank Flag Link Mon Apr 7, 2008
When you go to your accounting he or she is in the business to make money. When you go to your lawyer he or she is in the business to make money. When you go to your doctor he or she is in the business to make money. And when you go to work you’re in the business to make money.
The author that Greg is referring to is also in business to make money.
As far as the price of homes they are bound to go up, once the interest rates go up, but listen to Greg because he is the expert.
Flag Sat Oct 20, 2012
Patricia
Regardless of gloom and doom seekers out there using information from a state acroos the country! This is a great time to purchase and or invest, due to great mortage rates and your selections of properties on the market. Would you rather be in bidding wars or take your time, see what is out there and able to negotiate a price best for your needs. As I stated before, you really need to investigate, work with an experienced local agent that will do the work, show you the comparables recently sold and under contract and everything currently available. Take your time. But owning and paying your won mortgage is much better than paying off someone else mortgage by renting! Good luck to you. I am here to help if you need an experienced, local, hardworking full time real estate broker associate with a 21 year proven record and repeat clients with references to represent you in your purchase.
1 vote Thank Flag Link Mon Apr 7, 2008
Patricia
Gregory has the best answer below. Of course that is a major concern. Where do you think buyers are going to come from? Now Buyers need 20% down and 2/3 of the buyers from 2005 don't even have 10%.

Do more research, this is a huge decision. If someone tells you this is a great time to buy, ask them what they are smoking. Prices are just starting to drop, see the link attached.

There are always a few deals out there, but if you buy you will need to stay for 10 years.
1 vote Thank Flag Link Mon Apr 7, 2008
Yes, that should be a concern.
Web Reference: http://Ask4Greg.com
1 vote Thank Flag Link Thu Mar 20, 2008
Your only concern should be whether you like the townhouse or not. The Little Egg Harbor area has an abundance of homes for sale at this time and it really is a buyer's market there. Many townhomes are bought by investors who will retain them for a period of time and then sell them for a profit. While this may or may not be the case here since I don't know which townhouse development you are speaking about, I would be more than happy to discuss this further with you should you wish to contact me.
1 vote Thank Flag Link Sun Mar 16, 2008
Do your homework. Find out about the taxes, maintenance, the fee's .. maybe people had them for investment s and are looking to sell right now. Their can be many reasons. Go and see some open houses and talk to the realtors... You should be able to get a few wnaswers at the development itself.
1 vote Thank Flag Link Sun Mar 16, 2008
I live on the water in Bayville and know the area with over 28+ Years of Full Time Experience. Agents from Barnegat south will say that mosquitoes and flys exist everywhere. When they tell you that ask them why their are no black boxes to control the problem north of Barnegat. Your honest Realtor. give me a call on my cell.


Re/max Elite
Frank Gilligan
Office 732-870-6300
Please call my cell 732-539-8668
444 Ocean Boulevard North
Long Branch, NJ 07740
Licensed salesperson, NJ
Over 28+ Years of Full Time Experience
0 votes Thank Flag Link Wed Jul 18, 2012
Thanks Realist,

Many people that bought real estate during 2008 are doing much better than those that invested in the stock market. Overall in the LONG run, real estate holds up much better than investments in stocks!

I still believe!

Have a great day. Thanks for thinking about me. I knew you could never forget!
0 votes Thank Flag Link Wed Mar 4, 2009
Kimberly:
"This is a great time to purchase and or invest, due to great mortage rates and your selections of properties on the market. " April 7, 2008

Good call. lol
0 votes Thank Flag Link Tue Mar 3, 2009
Patricia,
Don't discount what Kimberly says, she is right, dispite what others here have said. She does know that market extremely well and if I were you, I would listen and work with her in that area.
0 votes Thank Flag Link Mon Apr 7, 2008
Patricia,
Yes and no. There are many townhomes for sale because many of the owners have either moved into homes or out of the area altogether. Most of the townhomes are older and hopefully are marketed so. Most have had good upkeep, some not. If you really want Tuckerton area, do your shopping wisely. If you wish to move a few miles either north or south of it, there are many newer townhomes which may be a better bargan, depending on how much you are willing to spend; sellers are willing to deal. Do your homework and searches. If you need help or more advice, feel free to call.

John Jelinski
Crossroads Realty, Barnegat
609-713-3454
johnjelinski_7@msn.com
0 votes Thank Flag Link Wed Mar 26, 2008
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