Due to the recent economic crisis, the real estate market is still in a fragile state. It is getting better, but it is a buyer’s market throughout the country and will likely remain that way for some time. The popular vacation town of Sea Isle City, New Jersey is no exception to the rule.
With near historical lows on mortgage rates for qualified buyers and property values that have rolled back to prices not seen since 2003, quite a few real estate investors see this market as a great time to acquire vacation rental properties or second homes. Sea Isle City is definitely worth consideration for this type of investment.
The Jersey Shore is an Eastern Seaboard vacation hotspot for residents of Philadelphia and New York City, thanks to its proximity and its gorgeous beaches of white quartz sand. Through the recent economic troubles, this region has continued to maintain a reputation of luxury and prestige, attracting young socialites, college students, families, and all kinds of other tourists with its charming seaside communities, boardwalks full of family attractions, unique festivals, fine dining, boutique shopping and a thriving live music scene.
Sea Isle City is situated on a barrier island in Cape May County, the southernmost county of New Jersey. Compared to the rest of the state, it has relatively mild winters as well as slightly lower temperatures during the summer. With about 3,000 year-round residents, Sea Isle has a small-town feel, making it a perfect place to escape from the city and relax. Most available real estate is either vacation properties owned by investors or private vacation homes. While most people think of it for summer vacations, the town is starting to be recognized as a peaceful winter getaway. It also features many spring and fall activities.
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It could very well be several years before we see a marked increase in property values, given today’s economic climate. It is important to remember that not just any property is a good buy. You must understand average rental rates for homes in the area before deciding to invest. An experienced Sea Isle City real estate professional who is knowledgeable about current vacation rental rates will be able to assist in identifying properties with the best possibilities for return on investment.
The recent economic downturn has scared many people out of investing in vacation homes as well as other real estate, allowing some savvy investors to take advantage of the glut of properties on the market. The right purchase of Sea Isle City rental property could bear much fruit over the years for prudent real estate buyers.
Landis Company is Sea Isle City, New Jersey Real Estate for sale and Summer Rentals Headquarters, specializing in seashore condos, townhouses and single homes for rent or for sale at the Jersey Shore. This article powered by SEO 2.0 Services