Brigantine real estate blog

Perfect New Jersey Vacation Homes for sale

Brigantine New jersey Real Estate

Brigantine New Jersey 08203 Condo for sale. This 1 bedroom, 1 full bath condo conversion has 3 Magnificent Views from Living Room, Association Pool, with vey quick access to the Brigantine Beach.
$305,000

that is located on Beach Block and is Ocean front. There is an Association Pool and Clubhouse.
$398,000

Home Sales Break Record

Home sales of existing single family homes, condos and townhouses rose in June.  According to the National Association of Realtors this marked sales 4.4% higher than last year at this time. Here in the northeast, which includes New Jersey, bought homes for sale rose 3.4%

The medium price for all existing homes rose to $219,000, a 14.7% increase from June 2004. That is the fastest pace of year over year price appreciation since November 1980. The medium is an average of the highest priced homes and the lowest.

Why the increase? It is the old supply and demand rule. There is more buyers than properties available. This makes it a sellers market.

This higher than expected sales data bolsters forecasts for a heathy economy in the second quarter of the year.

Is a Housing Bubble going to affect Jersey Shore real estate

The Scary  Bubble

"Housing bubble” has such a dramatic ring to it, and it sounds scary.  Plus, these words sell newspapers.

Is it possible that house values in The Jersey Shore area will decline soon? No one can really predict. However… we can learn from history.

In the '70s property values appreciated faster the in the  recent three years.  In the following 10 years home appreciation doubled. Beginning in the late 80's we saw property values decline for about five years. A total of about 12%.

What’s different this time? Numbers, expressed in dollars, the recent increases in value seem extreme.  As a percentage of the home’s cost, appreciation has been more rapid in the past and there could be many more years of appreciation in the future.But no one knows.

Housing Bubble Protection:

If no one can predict if or when prices will decline or by how much, how do you protect yourself? You do it the “old-fashioned way.”

When you buy a home, buy one you intend to own for a long time.  The cost of a house isn’t just the price you pay for it and price may not be as important as your carrying costs.  The largest cost is your mortgage payment.  With low interest rates, people can afford more expensive houses because their payments will be low.  If possible, skip the “first-time homebuyers” house and buy the “move-up” house.  That saves you one move, saves you costs, and puts you in a position where you don’t have to sell.

You see, how much your house goes up or down in value each year doesn’t make any difference at all – until you have to sell it.

Then, if you’re selling in a slow market – you’re also buying in a slow market.  If you’re buying in a hot market – you are also selling in a hot market.  It equals out, provided you have equity enough to make your next purchase.

But if you’re buying a home to “flip” it in a year or two and the market does turn against you, you could be hurting – providing you have to sell.   If you're buying just before a down market and you get transferred or relocated, you could be hurting, too - providing you have to sell the home.

Conclusion:

There probably is not a “housing bubble” in the way that there was a Nikkei bubble or a dot.com bubble.  However, it is quite likely that there will be some time in the future when values decline, at least in certain areas.  It could be in a year or it could be in sixteen years.

How did most people cope in the past? They rode it out. They didn’t sell.  Later, prices recovered and bypassed previous highs.

Right now, those are some pretty happy folks.

Pete & Bev Petridis
www.petepetridis.com
Pete's Cell: 609-377-4023
Bev's Cell:609-352-9257

Brigantine Realtor advises the New Jersey home buyer

Sources of Down Payment

As you search for your New Jersey Shore new home, it hits- the reality of how much ready cash you will need to purchase that Jersey Shore home of your dreams.

One of the most appreciated services a Brigantine Realtor offers is helping buyers find the source of the down payment to buy their new home, especially when the potential buyer thought they couldn’t afford it. Below, you will find a partial list of some potential sources for a down payment.

1. Cash value life insurance
2. Gift from relatives
3. Equity in a car or other asset
4. Year-end bonus

There are other sources besides the ones listed. If you are unsure about the practicality of any of these, please feel free to call Pete or Bev Petridis or send us an email at any time. We are here to help you.

Pete & Bev Petridis
www.petepetridis.com
Pete's Cell: 609-377-4023
Bev's Cell:609-352-9257

South New Jersey Home Listings

Brigantine, NJ  Real Estate  08203

Brigantine New Jersey real estate that includes 5 bedrooms, 3and 1/2 baths. This South New Jersey House has cathedral ceilings, great room, breakfast area and dining room. Plus all that you expect in a upscale South Jersey Shore home.
$3,000,000

Brigantine, NJ 08203

Brigantine, New Jersey home for sale that features a boat slip. This 3 bedroom 2 bath home sits on a treed lot that is fenced for total privacy. This Jersey Shore property includes a deck and outside shower. .
$1,450,000

Brigantine, NJ 08203

Brigantine, New Jersey home for sale with 3 bedrooms, 2 baths. This beauty of a house overlooks the Jersey Bay and has a deck with jacuzzi.
$899,900

Margate, NJ  08402

Margate, New Jersey home for sale is a bricked Cape Cod in style. This lovely Jersey home on wooded property has 5 bedrooms, 4 and 1/2 baths, great for those weekend visitors.
$869,000

Brigantine, NJ 08203

Brigantine, New Jersey vacation home for sale, This beautiful  4 bedroom 3 bath Jersey Shore home is located on bay front.
$799,000

Brigantine, NJ 08203

strong>Brigantine, New Jersey split level vacation home for sale . This Jersey Shore house has 4 bedrooms and 2 and 1/2 baths.
$699,000

Brigantine, NJ 08203

Brigantine, NJ home for sale with 4 bedrooms and 3 baths. Located on the much sought after Beach Block
$1,400,000

Margate, NJ  08402

Margate, New Jersey home for sale. This great vacation home for sale has 5 bedrooms and 2 and 1/2 baths. Nice deck with outside shower. This home is ideal  for those weekend guests.
$750,000

Margate, NJ 08402

Margate New Jersey home for sale. This cozy home has 3 bedrooms, 2 baths with a lovely Patio.
$674,900

Margate, NJ  08402

strong>Margate New Jersey home for sale. This four bedroom, two and one bath is a wonderful second home, a starter home for the young family or the empty nester.&
$695,000

Atlantic City Real Estate, NJ  Zip: 08401

Atlantic CIty New Jersey Vacation home for sale.  Great for that second home or the retiree. This New Jersey house has 3 bedrooms,1 bath with breakfast nook, dining room and a full basement.
$685,000

New Jersey News

With all the new development in New Jersey both in new home starts and commercial development, some Jersey Shore residents are concerned about the recent Supreme Court ruling concerning eminent domain property seizures.

Local, State and Federal lawmakers in many states are busy studying the eminent domain laws and are beginning to write legislature to safeguard home and small businesses.

Supporters of the Supreme Court ruling insist that constituents can simply vote against elected officials that invoke eminent domain for economic development.

Perhaps the best a New Jersey real estate owner can do at this time is to write both your State and Federal legislators. Second, be vigilant in monitoring the decisions of elected local, state and federal lawmakers.

New Jersey Realtor awards scholrships

Twenty-seven New Jersey high school seniors were awarded scholarships from the New Jersey’s realtor association which total $38,000. These high school seniors were among 123 applicants. Since 1969 the New Jersey realtor’s association has awarded $412,000 in scholarships to deserving students. 

The scholarships are open to New Jersey seniors who will be attending an undergraduate institution, students currently enrolled in undergraduate institutions and students pursuing graduate studies.

New Jersey Realtor awards scholrships

Twenty-seven New Jersey high school seniors were awarded scholarships from the New Jersey’s realtor associationwhich total $38,000. These high school seniors were among 123 applicants. Since 1969 the New Jersey realtor’s association has awarded $412,000 in scholarships to deserving students. 

The scholarships are open to New Jersey seniors who will be attending an undergraduate institution, students currently enrolled in undergraduate institutions and students pursuing graduate studies.

New Jersey New Homes

Margate, NJ   Zip:08402
Margate New Jersey new home for sale. This new home has 4 bedroom, 3 1/2 bath has beautiful kitchen, great room with all features expected in a Jersey shore new home.
$1,690,000

Brigantine NJ   Zip:08203
Brigantine New Jersey new home for sale. This Jersey Shore new home has Bar, Cathedral Ceilings, and all upscale amenities.
$1,150,000

Brigantine NJ   Zip:08203
Brigantine New Jersey new home for sale. This 5bedroom, 4 bath and 3 1/2 Brigantine home is located on Beachblock, just steps to the beach.
$1,750,000

Longport, NJ   Zip:08403
Longport, New Jersey new home for sale with 5 bedroom and 3 1/2 bath is located on Beachblock. The Longport home has a fenced yard and porch, Patio and deck with a garage able to house 3 cars.
$1,265,000

Jersey Shore Homes for sale

Margate, NJ   Zip:08402
Margate City, New Jersey Vacation Home For Sale
A cozy 4 bedroom 2 1/2 Bath home, perfect for that weekend getaway for the young family.
$745,000

Brigantine NJ   Zip:08203
Ocean front with deck and beautiful Jersey Shore view. This Jersey home has 5 bedrooms and 31/2 Baths
$1,690,000

Brigantine NJ   Zip: 08203
Brigantine New Jersey Vacation Home For Sale
3 bed, 1 bath/1 half3 bed, 1 bath/1 half partially furnished, Florida room, fenced yard with patio and outside shower.
$750,000

Margate, NJ   Zip:08402 
Margate Vacation home on Jersey Shore for sale
3 bedrooms and 2 1/2 bath home with cathedral ceiling, whirlpool spa.
$749,900

Longport, NJ   Zip:08403
Longport, New Jersey house for sale
4 bedroom, 3 bath with both hardwood and wall to wall carpeting.
$799,000

Longport, NJ   Zip:08403
strong>Longport, New Jersey home
Large living room, wall to wall carpeting. fenced yard with patio and deck.
$1,265,000

Brigantine, NJ   Zip:08203
strong>Brigantine New Jersey family home For Sale
4 bedroom 3 and 1/2 bath this wood shingled home is a beautiful wood shingled with island kitchen and spa, deck with outside shower.
$2,450,000

Brigantine, NJ   Zip:08203
Brigantine New Jersey vacation home for sale
3 bedroom 2 bath
$1,000,000 

Margate, NJ   Zip:08402
< strong>Margate New Jersey home for sale
5 bedroom 3 bath brick home located in quiet neighborhood with den/family room.
$995,000

New Jersey Home for sale

Part of a realtor's job is to relieve any anxieties you might have about the process of buying a New home in New Jersey . A common element buyers are concerned with is the condition of the home they are interested in.

Sales contracts have provisions to allow the buyer to have a professional inspection made after it has been determined that an agreement to purchase has been signed. It typically provides a dollar limit that the seller is obligated to repair and options for extraordinary things that may exceed that limit.

Another option might be a home warranty covering certain items in the home for the first year. Sometimes the seller is willing to pay for this coverage, and other times the buyer provides it for themselves.

If you would like more detailed information about home inspections and warranties, please give us a call. We are looking forward to helping you with the purchase of your new home. 

Peter & Beverly Petridis

www.petepetridis.com
Pete's Cell: 609-377-4023
Bev's Cell:609-352-9257