In My Neighborhood in 07740>Question Details

Bstein1, Home Buyer in Long Branch, NJ

i see there are plenty of rentals available not being rented out during the year , i have been trying to buy for 3 years the sellers are asking a

Asked by Bstein1, Long Branch, NJ Tue May 29, 2012

little too much , are there many short sales for cash buyers 15-20 % too much , i have made offers and they are still available a year later ,looking to purchase where we can see the water from the house or condo , any other towns you can suggest which are a little more affordable looking for 1 or 2 br i do not need a mortgage

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John Skronski’s answer
B-1 - You did not mention if you wanted an ocean view or river view, or a price range. Assuming the ocean, and under 500k, there have been over 60 sales in the last 3 years. There are only about 10 units currently for sale with the same criteria. I understand you probably want a good deal, but the problem lies within availability. Those that bought a unit, currently own it, and those that did not buy, do not. I hope you're not waiting to get the deal of the century and put your life on hold waiting for that opportunity. You may eventually get a "good deal" but spend several years (3 already) waiting. If you are currently working with an agent, he/she should be able to direct you accordingly and get you the deal before others get it. If you are working on your own, then you have either passed up or underbid 60 deals where the market was above your offers. If you are patient, and are convinced the market will come to you, then good for you, you will get a property at a lower price, so all is well. But the difference between getting the place you want and the place that is left is timing. And working with a professional who is aware of all MLS properties, FSBO's, and owners considering selling will get you that "best deal." I am one of those professionals and I have been involved in more condo sales with water views in the last 3 years than any other agent. I can definitely help you. There are other towns that have water view properties, too, and I could discuss them with you. And I'm not sure about the point you are trying to make with the rentals. But I do agree that some sellers have been asking too much for their properties. But there is still a good opportunity out there to buy a nice place at the right price, if you know how and where to look. Good luck! Let me know if I can help. Thanks - John
1 vote Thank Flag Link Wed May 30, 2012
Hi B,

There's got to be a reason why a ready cash buyer has not been successful in buying. When you say the properties are overpriced, are you using the comparable closed sales to judge their asking price?

You need just two things:
#1-- A fresh search that is focused on sellers who have priced their properties correctly, showing they are motivated.
#2 -- Then, you need to make your offer in keeping with fair market value. Your offer will be appealing, with the advantage that the sellers will not have to wait several weeks for a buyer's mortgage approval, and there is value in that, but keep in mind that it does not overcome a very low offer.

If you do this and have a great agent to advise you and negotiate your offer, you'll be packing for your new waterview place.

I lived right on the ocean in Long Branch for many years, I'd love to guide you to an advantageous purchase.
1 vote Thank Flag Link Tue May 29, 2012
There are many unaswered questions to your question. I need more information so I can intelligently answer your concerns. Please feel free to contact me by text or cell at 732-539-4348 or visit my web site at http://www.jerseyhouses.net.
Carol Nannini, GRI
Real Estate Sales Professional
105 E. River Road
Rumson, NJ 07760
Look for my monthly add in The Link Newspaper.
0 votes Thank Flag Link Tue May 29, 2012
I would be happy to help you search, there are plenty of properties all along the rivers and the ocean, Long Branch does tend to have more lower priced properties I have found. There are deals everywhere though, I can do a thorough search, and really find whats out there. You can contact me at 732-829-2502, or email me at hughnjhomes@gmail.com. anytime.
0 votes Thank Flag Link Tue May 29, 2012
I would be happy to assist you with your search. I am a lifelong resident of the area and I am very familiar with the waterfront sections. Please feel free to contact me and I will send you some listings directly. I look forward to hearing from you.

Patty Lipert
Heritage House Sotheby's Int'l Realty
Patricia.Lipert@ SothebysRealty.com
Web Reference: http://www.PattyLipert.com
0 votes Thank Flag Link Tue May 29, 2012
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