Jeff Shields, Home Buyer in Montgomery county Pa,...

We are looking to purchase a summer home on Long Beach Island, NJ...Any insights from the experts?

Asked by Jeff Shields, Montgomery county Pa, & Somerset county NJ Fri Nov 16, 2007

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13
Deborah Madey’s answer
Hi Jeff,

The barrier island in nearly 20 miles long. Locating near the hub of activities, or near to the homes of family and friends may be important when choosing a location. Driving the length of less than 20 miles can be a daunting task taking hours during peak times. It seems that your interest might be restricted to Beach Haven (and that may include North Beach Haven? Haven Beach?) That is certainly one of the more concentrated hubs on the barrier island. Beach or bayside is really a matter of preference. Budgets reach all directions. There is currently a condo for sale in the low 3's, multi family home at 1.3M, and SF homes ranging from the 4's to 1.7M. You will find the largest potential selection of homes in the higher 6 figures and lower 7 figures.

There isn't much inventory active in MLS right now, but surely, there are many potential sellers out there who are not listed. If you are serious about buying soon, I would suggest that retain a buyers agent that will aggressively comb the market for would be sellers in addition to those actively listed. There weren't many sales last year, and there were a lot of properties that went off the market as expireds and withdrawns. For you, as a buyer, that creates both oppty and risk. But, oppty generally does run hand in hand w/ risk.

For many buyers, the question is "buy or wait for the market to adjust"? I explain to buyers that your target property may or may not move with the tide of the market. Not all sellers, therefore not all properties, will swing at that the same speed as the "average" of the market. Today, there may be a motivated seller who wants to sell now, and may become very flexible in pricing......well below today's average, or even well below tomorrow's average. The more flexible you are as a buyer in your choice of amenities, location, and condition, the more likely you are to be able to secure a great deal by prioritizing properties held by motivated sellers. A buyers agent, if representing exclusively you, can approach sellers from last year who may still have an interest.

If you are looking for a long term summer home to share with your family (I see in your picture that you have little ones!), then I would suggest beginning your search now. It is impossible to time the market perfectly. If this is a long term hold and a place to build memories w/ family and friends with for years, you can start that now. You are in a more favorable position today than the buyers were 3 and 4 years ago.

Jeff....please excuse me while I borrow your thread for a side comment..............I haven't been that active on Trulia in the recent weeks. When I came to this thread and saw the volume of TD, it was disheartening. It looks like Realtors slamming Realtors, and that makes a negative statement about us, and about our profession. I would ask that you try to take a step back and see this how a first time Trulia visitor might.....coming to a sight, finding a question of interest, and seeing all this negative bashing. Really, is this uplifting to Trulia or Realtors? Does it speak well about us? Did all this TD activity help Jeff or other consumers? Or, did it turn off Jeff and/or other consumers?

Deborah
2 votes Thank Flag Link Sun Dec 23, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Love that area, but really crowded. I would rent this summer for two reasons
1 Make sure you really like it before you invest your money that won't appreciate for 5-10 years.
2 The prices there have stabilized, but not yet dropped. There is a huge inventory and sales are slow.

If you have the money, then you are also probably smart enough to know what happens with supply and demand. You have nothing to lose by renting one year and seeing what happens to the market.
1 vote Thank Flag Link Sun Dec 23, 2007
Sure do. I should find out how much YOU know about LBI, ever rent here? Like beach block or is bay side more to your liking? What i would love to do is come visit you, I can give you things to bring you up to speed. I am doing this on Monday in jersey city and last week I spoke to home seekers in their N. NJ. home. I know this sounds a bit 'different' but it works. It cuts searching time down to a mnimum number of hours. I was in HighBar Harbor (Barnegat light) last week and Holgate the week before but they are 15 miles apart and there is soooo much inbetween. my cell is 732-778-9933 my email is marc@marcjwilliams.com. Of course i can email you many many many properties but it really works better FACE TO FACE there is no charge or obligation. I am the past president of the Burlington County Board of REALTORS in 1978 and a service IS the way of the future. Call / email me if i can help hope to see you soon, what about this weekend? My office is off rt 70 in Barnegat 609-607-8600 i am the manager. marc Williams
1 vote Thank Flag Link Fri Nov 16, 2007
Hello Jeff,
If you have been considering purchasing for a while, you will find now is the best time with interest rates still in the low 4 % range and homes at their lowest in 8 yrs. If it is Beach Haven only you are concentrating on , you will find 44 Single family homes with 3-5 bedrooms starting at $499,000. and up to 4.9 M Are you interested in making having a home produce and income as well as a place to spend the summer? You may want to look into multi family homes. If your intent is to spend the summer an weekends off season ( Sept - Nov are wonderful) . Remember , with the click of the mouse, you can find your house on http://www.DonnaDiorioRealtor.com . You can search at your leisure, find what is happening on LBI, check the weather, see what sold and browse the rentals. You can sign up for new listings that come on the market from the privacy of your home and get real time up dates. There are many wonderful towns on LBI to live, depending on your specific needs and wishes to have within you neighborhood. The beaches are replenished annually and if you are familiar with LBI you will know it has the cleanest 19 miles of Island in comparison to the surrounding beach locations.
Visit http://www.DonnaDiorioRealtor.com for mortgage calculators, affiliated business partners( which make it easy for you to do one stop shopping) Unless you ask to be contacted, you can look as often as you wish , until you are ready for a one on one discussion. It would be my pleasure to help you when you are ready. Feel free to email me at Donnadiorio@hotmail.com ,or call me on my cellphone 609-709-9539 anytime you have further questions or concerns. Real estate is my business and I am available 7 days a week. I look forward to helping you become a LBIslander.
http://www.DonnaDiorioRealtor.com






DonnaDiorioRealtor.com
0 votes Thank Flag Link Mon Nov 15, 2010
My family has lived on LBI for 54 years. I am currently purchasing my third home upgrading for the past 15 years. My current home is for sale, only 5 years old, reverse living with bay views from several decks (5 total). Priced to sell under $850,000. Contact Joe Mayo of ReMax of LBI ask for 1212 Barnegat Ave, Ship Bottom. The neighbor has changed dramatically for the better in the last 5 years. I would not be moving but I found a deep water lagoon front home in the Dunes in my price range. I am sad to leave but my boat needs a home. Great neighbors, great neighborhood.

Pat, LBI and Hainesport, NJ
0 votes Thank Flag Link Thu Feb 28, 2008
Jeff,
LBI, as we locals call it, is a great place; almost like stepping back in time 30 years ago...shops open till 11pm, or later, loads of family places, fantastic eateries. It's a place where people still feel safe enough to stroll late at nite as there are many places within walking distance of just about anywhere you stay /live at. Tons of beach activities at night...every night. And the beaches are clean and not yet crowded as some NJ beaches have become.
Other good news is that there are a ton of beautiful, reasonably priced homes ready to move into. What were just about "untouchable" price wise 3-4 years ago have now become the best price value in years. If you use it as a primary, you will love the quiet off season, if a secondary...the getaway factor. Also if it is a secondary, the possibility of leasing it out adds an additional affordability factor, some owners make great cash leasing out to good, pre-screened people.
As a buyers rep, I would love to help you out, even if only with advice.
Call me 609-713-3454
John Jelinski
Crossroads Realty, Barnegat
johnjelinski_7@msn.com
0 votes Thank Flag Link Thu Feb 28, 2008
My family owns a home on LBI and loves it! Every day during the summer we go to the beach, not having to worry about driving home and being disappointed that we only have to spend a week or a day there. LBI is the perfect place whether you do or do not have kids. Picturesque sunrises over the ocean and stunning sunsets over the bay including cool summer breezes await you on LBI!
0 votes Thank Flag Link Tue Dec 18, 2007
Location, Location, Location. Sales on LBI are up 28.7% in the past 11 months compared to last years fist 11 months of sales. It's definatly woth looking into purchasing on LBI. You can check out some of our featured listings at http://www.stevensrealestate.com and even search the Jersey Shore MLS from our site. Let me know if I can be of assistance.
0 votes Thank Flag Link Sat Dec 15, 2007
It's a buyers market. Shop until you see what you like - plenty of inventory to choose from.
Web Reference: http://Ask4Greg.com
0 votes Thank Flag Link Thu Nov 29, 2007
I'm sure you'll find my website to be an excellent resource. with no pressures or obligations, View as many homes as you like, with out the YOU MUST SIGN UP to view more. My goal is to help my clients find the right home. With that in mind, my website brings you the access and expertise of a real estate professional to your fingertips.

The Property Search feature allows you to filter thousands of listings based on attributes that you select. You can simply search for houses in a certain area and price range, or you can look for houses that fit your specific style. If you know you want a brick house with gas heat and a garage, you can get the results you're looking for. Most real estate websites don't offer that degree of choice. I am available 24 hours a day, 7 days a week.

My advanced Property Research Center offers further tools for homebuyers. My website, will also give these additional features:

Saved Searches that allow you to easily maintain lists of properties that match your criteria without having to re-enter any information, and there is no limit to the number of searches you can save.
The Favorites Folder - a great way to put in order those specific listings that interest you most.
The New Listing Notification service, which updates you via e-mail as to new listings that match the criteria of any saved search. So if you are still seeking the information you want with out the Pressure tactics. Then take a quick peek . go to http://www.soldbypattie.com
Web Reference: http://www.soldbypattie.com
0 votes Thank Flag Link Sun Nov 25, 2007
Van Dyk Services is the leading broker in the Long Beach Island area. We can provide you with access to all the listings on Long Beach Island as well as waterfront homes in Stafford Township, the mainland community. Log onto my website at broberts.vandykrealestate.com We can also help with your mortgage and insurance needs.
0 votes Thank Flag Link Mon Nov 19, 2007
A lot of North Jersey people are purchasing in the Spring Lake area. It's a lot closer to home, exit 98 vs 72 off the parkway--making the commute much easier. Even the people from Bucks county have discovered us and find it much easier to come straight out 195 than have to fight the traffic to go south from there.
If you'd like some community or home sale information, check out my website, below.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Sat Nov 17, 2007
Hello! My family has owned on LBI for over 60 years, I have lived and worked on the Island and love the feeling that you can go just about anywhere from the wee hours with your coffee and bagel to the evening with your steak and lobster to the wee hours again with your glass of wine with friends with nothing but a good sturdy pair of flip flops from late April until November. You have many sections from the elite mansions, to the family oriented, to the college flop houses. No matter where you are you can walk from the bay to the beach due to the nature of LBI being a barrier island (long an skinny) Depending on what you are looking for and what you would like to spend will determine which section is best for you. check out http://www.lbinet.com/lbimap/lbimap.asp for a good map and insight to each section. If you want to take a tour of the Island I am more than happy to give you the "local" insight. Call me on my cell at 609-709-7311.
Dani Padovano
Crossroads
daniellep@crossroadsrealtynj.com
0 votes Thank Flag Link Fri Nov 16, 2007
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