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Home Buying in 07762 : Real Estate Advice

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  • Local Info5
  • Home Buying3
  • Home Selling1
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Activity 3
Sun Nov 11, 2012
Francesca Patrizio answered:
Thank you Debra, very eloquently put. There are alot of "things to know" about "E&S" as we call it down here at the Jersey Shore.. At one point there was alot of construction (rehabbing of the building), high monthly association fees in addition to mandatory dining room fees (use it or not) of approximately $250, was once a 65+ community, recently reduced to 55+ and yes, it was once a hotel.

As you can see E&S is evolving to become more marketable and realtors and the homeowners association continue to strive for improvements. I've seen replies from Diane in the past regarding this development and she does truly know it well . . . past and present. After all, we are in the same market, but I defer to Diane.

Francesca
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Mon Oct 22, 2012
Annette Levinson answered:
After reading a description of the condo association (I originally thought elevator37 was talking about the counties of Essex and Sussex) it sounds like the development is classified as assisted housing. As a mortgage officer for 26 years, I have not seen a lender do this type of property. ... more
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Wed Aug 26, 2009
Francesca Patrizio answered:
Graham,

One add'l point . . . there are currently 21, count them 21, Fairway Mews properties on the market, 4 of which are currently under contract = 17 available properties.


Think supply and demand ala 2010 and wonder if there is currently a costly property assessment looming (of which I have no knowledge, but if you email me direct @ Francesca@PatrizioRe.com and I would be happy to research as Fairway Mews is within my market area.

Love and Peace,
Francesca, ePro, SRES
Francesca@PatrizioRE.com
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