Home Buying in Ocean City>Question Details

Will, Home Buyer in Ocean City, NJ

why is the property on west surf road so cheap under 100k?

Asked by Will, Ocean City, NJ Wed Jan 5, 2011

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Will, what is the exact address? If you saw it hear on Trulia or the info was supplied by Realty Trac, its not actually for sale, it just may be in the early stages of a foreclosure proceeding and since they are public records, many sites gather and publish the information. The low price would represent the balance owed to whoever is trying to collect a debt.

If you can get me the exact address, I can work on getting you more detailed info. There are other homes available on West Surf, but over the half mil price tag.

Barbara Smith
Cell/Text: 609-980-7593
Email: BarbSmith321@comcast.net
Weichert Realtors
SFR Short Sale & Foreclosure Specialist
Web Reference: http://BarbSellsSJ.com
0 votes Thank Flag Link Wed Jan 5, 2011
Will

I not sure where you are looking but there are NO properties in Ocean City that are single family homes under 100k the lowest price home is $225k and that is a short sale it is not on West Surf.... Unlike many areas at the shore Ocean City has not taken as big of a hit in values and has not seen as many foreclosures as most other areas. This is not to say that prices have not come down because they have some 40% from the high of 2005.

As to why it would if it was available it would only be because West Surf is in the Northend and not near the Ocean except on the east side of Wesley road. Even in the fire sale it would be worth more then 100k

TIm Robbins

Exclusive Buyers Broker
Better HOmes Realty
0 votes Thank Flag Link Wed Jan 5, 2011
All property value is sharply reduced in this "Buyers Market". I will check our community reports and check with our insurance division to see if the flood zone could be a factor. We should see if it's in a good location to the beach and other attractions vacationers desire. If it is "cheap" to you and you like it, now is a GREAT time to buy.
Web Reference: http://schickrealestate.com
0 votes Thank Flag Link Wed Jan 5, 2011
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