Jersey Shore Real Estate In 2010

Everyone who visits the Jersey Shore summer after summer has a dream of someday owning a property at the their favorite vacation destination. With the recent years of plummeted real estate value everywhere, the Jersey Shore, although affected, has weathered the storm rather well.

Real Estate values at the Jersey Shore has dropped on average about twenty percent since its peak in 2005, but when considering the boom and the appreciation over the past decade, owners on average have felt like they hit the jackpot. If you bought a property in the late 1990’s, good chances are that your property value has doubled or even tripled in the past decade. Taking that into consideration, a twenty or even thirty percent drop in your value still makes you a huge winner in the investment end.

2009 has seen a slight rebound in the real estate market at the Jersey Shore. What appears to be selling is the properties where owners, for many reasons, must sell their property. This makes the property a great opportunity for the buyers standing by. The others that have been selling is new construction. Developers have been able to acquire properties at a lower price, which enables them to resell the properties at a more reasonable price. That along with the lowest interest rates in decades makes buying at the Jersey Storm the perfect time for any buyer who can afford to.

2010 could be a great year for Real Estate at the Jersey Shore if banks would start lending again. Because of the past “Bad Lending”, banks have become so conservative that they are not allowing potential buyers the opportunity to purchase their dream house at the beach. Time will tell if the lenders loosen up and smart investors will once again be able to purchase at the Jersey Shore. The advice is that if you can afford it, now is the time.