Bb, Home Buyer in Sea Bright, NJ

if 19 ocean ave was sold in 1999 for $757,500 what makes it worth $2,900,00 in todays market. did they add on to the house

Asked by Bb, Sea Bright, NJ Sun Feb 21, 2010

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3
Hi Bb

In the last eleven years the beachFRONT land has been gobbled up by condos and townhouses. There is just not much true beachfront left. Most of the houses in lovely Monmouth Beach actually sit across busy Ocean Avenue from the beach.
I used to live 4 houses down from this house - there are condos where i lived now, too. Call me if you'd like to have a strong negotiator work for you, but there's one thing for sure, the dirt is worth the bulk of the asking price. How much? Call me ;-)
1 vote Thank Flag Link Sun Feb 21, 2010
Bb - Are you still interested in the area, or did you purchase a property?

http://www.jskronski.remax-nj.com
0 votes Thank Flag Link Wed Jun 27, 2012
The market has come down quite a bit in the past year or two but we have not reached 1999 levels. We are lingering around 2003-2005 levels depending on the area. Keep in mind beach homes have held their value over the years that includes Monmouth Beach. You must also remember Long Branch developed Pier Village and that has been a huge success offering high end restaurants, shops and some nightlife. Pier Village has helped the neighboring communities raise property values and that includes Monmouth Beach. This house inside looks like it is in great condition from the pictures with upgrades in the past few years, albeit not $2mil worth of upgrades. It is also on on nice piece of property 100 x 192. The beach area does not have many lots that large in that price range on the ocean . This is also just south of the Monmouth Beach club which is very nice. In Sea Bright the Trade Winds was a huge high end development that took a few years to sell all the homes and they started around $2million with many selling a lot higher. Those lots were no as big as this lot at 19 Ocean.

Please keep in mind I am not defending the price . You really would need a complete comp analysis to determine if the price is fair. I am just trying to give you a sense of the rise in property values in the past 10 years.

If you want a more thorough property comparative analysis I can provide that free just email me
vgabela@dianeturton.com

Hope that helps you.

Val
0 votes Thank Flag Link Sun Feb 21, 2010
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