Joe, Both Buyer and Seller in 07753

Is now a good time to invest in a fixer upper in Spring Lake?

Asked by Joe, 07753 Mon Jun 9, 2008

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4
Diane Glander’s answer
Prices are lower in town than they have been in many years. The entry level market is at $649K and there are 13 homes under $1 million. Some are in move in condition, some are tear downs, and some are in need of renovating.

The important thing to remember with Spring Lake is when buying be sure to get a house on a conforming lot or you will need variance(s) to add onto the footprint or to tear down and rebuild.

Spring Lake real estate is always in demand and the town has seen very minor depreciation since 2005 in comparison to other towns in the state. The fastest moving market is currently the 2.1 to 2.5m market, while the under $1m market is a hard sale.

I lived in town for 20 years and can help you with questions you have about any of the listings or the community/schools itself. If you would like to see what's available in your price range from someone who really knows the market and can tell you the "scoop" on the listings, email me.
Web Reference: http://www.dianeglander.com
1 vote Thank Flag Link Mon Jun 9, 2008
Hi Joe,

I was curious whether you have acted on your potential purchase of a "fixer upper" in Spring Lake.

There are great values in play right now. Sellers have recognized that right pricing their home will result in a timely sale. After 2 decades in the new homebuilding industry as an attorney and director of marketing, sales and operations for national homebuilders, I have honed my negotiating skills. I welcome the opportunity to assist you in your search. I am now a full time realtor with Ward Wight Sotheby's International Realty in Spring Lake, I own a business in town and have lived in the nearby community for 17 years.

Please feel free to contact me at michael.skea@sothebysrealty.com if I may assist with your search.

Thank you.

Michael
0 votes Thank Flag Link Thu Jul 21, 2011
Spring Lake is a special town that if you have the opportunity to invest I would go for it!

For the first time in years SL is seeing houses on the market that are below the million dollar mark. Savvy investors are fixing up properties at all price points, because they know SL is a solid investment.

During the current housing slump SL remains to be one of the only towns that has not been truly effected.

I live in SL and if you have any questions or would like for me to help you find a property I would enjoy the opportunity. I know the market well and could help you find that perfect fixer upper!
0 votes Thank Flag Link Thu Apr 14, 2011
Savvy investors are buying up anything that is a good value right now & holding on to it.
If you are buying it to fix it up to live in Spring Lake is one of the finest towns to own in near the beach in Monmouth County. Just make sure you plan your buying & renovation budget within your means. If you are looking to fix & flip houses, you may have to wait a few years to make any windfall profit. The market is not appreciating the way it did a few years ago. I work with a lot of real estate investors & any fixer upper homes they are buying they are renting out until the market turns around to a more favorable market for sellers.
0 votes Thank Flag Link Wed Jun 11, 2008
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