No true at all. Curious as to where you got that info from.
As long as you qualify, you can get financing for anything real estate: land, single/multi- family homes, condominiums, commercial properties, etc....
Licensed Realtor in NJ and GA
This link will take you to all active condos at Fairway Mews. Please note that Apple Drive has "no golf balls."
Deborah Madey - Broker
Peninsula Realty Group, Inc.
Depending on where the property is located Summer rentals can command a nice premium. If you are in Spring Lake it would depend how far to the beach to get a better idea. There is a good summer rental demand depending on the price but you should get 8-12 weeks summer premium. Winter rentals are a different story. It is hard to get a rental for only winter . Occasionally you have people who are renovating homes in the area who need a place to stay. There are other times when people are in transition and want to keep the kids in the school system to finish the year. Overall it is not easy to find winter only rentals. Sometimes it is easier to get an annual rental and you can factor the summer premium months into the annual rent.
My suggestions is to ask for the rental history of the property and try yo get documentation of the income if these properties have rental history. Also take a look at other rentals in the area to see prices and avg rental histories if you can gather that information.
There are only 2 active townhomes/condos in Spring Lake. 1 of them is tenant occupied until 2009 and the other is not. Please see the link below for additional information on them. If you have any questions you can reach me on my cell phone at 732-580-5309.
There are four ranch units in Fairway Mews for sale at this time. They range from $339,000 to $469,000.
I have attached a link you can click on to view the properties. If the lin kwill not connect you, please copy and paste it to your browser and it will open.
If you have further interest, please contact me at 732-539-1878 cell, or via email at Bonnie@ERAByrneRealty.com, and I will be happy to set up showings for you.
I hope this answers your question!
My firm, Cary & Co., Realtors, specializes in Fairway Mews. We recently sold two Diplomat models (the largest 3 BR) in the mid-$400,000 range although one just closed in the past few days for $500,000.00. All depends, of course, on age, amenities, views & location etc. We do have a two bedroom unit currently available that has been reduced from nearly $400,000.00 to $330,000.00. Going forward, you should be clear as to whether you prefer a lease w/option or lease-purchase agreement which are, as you are no doubt aware, entirely different arrangments with inherently variable pricing and timeline obligations. If you would care to contact us with more specific details re your plans, i.e. rental expectations, anticipated time to purchase as well as any other relevant information we would be better equipped to respond to your needs.
Cary & Co., Realtors
Hi Keripc, I have a special fondness for Long Beach Island - it has certainly changed over the 17 years we've had a place there but all in all, I still think it is a great place. Not much in the way of townhomes and condos on the island - some, but most expensive. But there are some developments on the mainland which would be a short causeway ride from the beach. Having said all that, I think much of the magic of Long Beach Island or LBI as we say, is being ON the island. You've got all price points on the island -and in spite of market conditions, they still are pretty high.
Add it to your list - and don't hesitate to reach out for more input on this area if you consider it.
We have not regretted for a minute buying our place on LBI. I think our best family memories are from our time there.
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