Spring Buying Period ... in full swing here in Ocean City, New Jersey
And all we need now is some warmer spring weather, less rain, and a few more Buyers beating a path to our door, or any door here in Ocean City, New Jersey.
The 1st Quarter of 2009 (January 1st to March 31st) had a total of 111 sold properties ... 22 single family, 5 multi-family, and 78 condominium properties. That was not a good start to the 2009 calendar year.
However, the above figure does not reflect "pending sale" properties during that time frame ... so when we look at the numbers for both "pending and sold from April 1st to the Present (April 16th), we find the following information ... 7 additional sold single family and 10 pending sale single family properties for a total of 17 in the second quarter to date; 1 additional sold multi-family and 4 pending sale multi-family properties for a total of 5 in the second quarter to date; and 12 sold condominium and 73 pending sale condominum properties for a total of 85 in the second quarter to date.
So we have had 111 sold properties in the first quarter of 2009, and an additional 20 in April ... or 131 sold properties from January 1 through April 16, 2009 plus 87 more "pending sale" properties ... which could put us up to a grand total of 218 sold properties.
And we still have a solid eight weeks to go until mid-June, almost ten weeks to go until the "top ten week" rental summer kick-off begins. So the weaker start could still shake out to be quite a decent sale period during our normal "Spring Buying Period.
Looking at all the other factors in play ... it would appear that there are still problems at the national level with lots of economic implications, but that has not stopped many buyers from continuing to look for property. The mortgage rates have gone below the 5% level with some banks providing attractive opportunities for refinancing and purchase. Finally, the overall property inventory is a bit higher inviting buyers to sort things out and make appropriate choices.
Looking just at Ocean City, New Jersey; we find a resort market that has remained quite calm during all of this national economic noise during the past six months; and we also find a market that was stable and improving for the past two years before all of this national economic news hit in September and October last year.
It just may be one of those rare times when buying puts you into a position where a year, or two or three, you find the market upturn showing you just how successful you were with your purchase at this time. So no matter what your choice in property categories might be ... it would appear that buying opportunities are out there right now.
Let's wrap this up with my favorite additional plus ... the lifestyle change factor. When one buys a shore property, it is often a choice based on finances. Of course, that is good. But when the lifestyle change kicks in, you get the best of both worlds: a good financial deal as well as a new approach to how you deal with your family, friends, and that important self (you).
The first and most important stop is your initial contact with a real estate agent. If you know one and have some confidence in him or her, make the call. If you want to make a contact, check me out at www.FrenchSales.com or www.ActiveRain.com/DustinAPeters ... then send me an email at Dustin@BeachNotes.net or phone me toll-free at 888-215-9935. Dap
Comments(0)