Buying Property on New Jersey Shore. Is it time?

February 2, 2009 7:46 AM

I'm considering buying property on the New Jersey Shore. I like the look of some of the Sea Isle properties that are available under the million mark. The prices have come down nicely since I've been watching but I'm not sure it’s the right time to get into the real estate market yet.

I've read here that it will still be some time before the prices bottom, but at the same time I don't want to miss the bottom and house prices shoot up again.

Is it a good time to buy and if so any tips for buying along the New Jersey shore?

posted by nightwired to Travel & Transportation around New Jersey (3 answers total)

Rental or vacation home?
posted by Geckwoistmeinauto at 8:18 AM on February 2, 2009

From everything I've read it is really hard to predict exactly when things will bottom out. But, fwiw, they are trying awfully hard in Washington to stabilize things, and when that happens and some level of confidence happens then prices will rise.

My lowly 2 cents. Find something that looks good, that you can afford, and not worry too much about trying to hit the absolute sweet spot. If you have a good house and at a good rate that is primary.
posted by edgeways at 9:46 AM on February 2, 2009

I don't know about the financial/economic part of it, but I do live in New Jersey, and any time a hurricane is thinking about hitting us, the place every TV station reports from is Sea Isle City, because it has the most impressive wind/rain/big waves visuals. Make sure to look at historic weather data for wherever you're looking.
posted by booksherpa at 8:23 PM on February 28, 2009