With holidays upon us and the changes in Wall Street, people make a lot of assumptions about the Real Estate market at the shore. On a daily basis I hear comments like, "I guess it must be pretty dead right now" and "I guess no one is looking for a house now".
Actually, it is just the opposite. I am busier now than I was at the end of August. Currently I am working with about 8 families looking for a second home in Atlantic City, Ventnor, Margate or Longport. I am also working with several investors looking for properties to buy that they will be able to easily rent and hold for a sale at a time later in the future. I am also working with a few businesses seeking new locations for their endeavors.
There are a few differences now that are making it harder to make a sale come together.
1) Buyers need even more confidence that the property they are buying is priced right.
2) Buyers have concerns that the prices may come down lower and they might be buying too soon.
3) Sellers are afraid to “give in” to the offer and wait for a higher offer or for the market to go up in the Spring.
4) Sellers are not aware of the amount of homes on the market and that if they get an offer they need to work with their agent to find a middle ground.
Buyers waiting for a “better bottom” of the market will lose out on opportunities that will be sold to other buyers or will be removed from the market. Sellers that do not consider offers that are realistic will miss out on what may be their only option to sell their home.
Homes are selling at the shore and there are great opportunities for realistic Sellers and Buyers.
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