Wherever I go, it’s not unusual for people to ask me two questions:
1. Is this a good time to buy a second home?
2. Will a vacation home be a good long-term investment?
My answer to both is a resounding “Definitely…Yes!” If you are reading this Chairman’s Report, there’s a good chance you are considering a home at the Shore and that you are looking for the best information available and the confidence to move ahead. So let’s take a closer look at those two important questions:
As noted by Steve Booth, our New Jersey Broker of Record and Regional Manager in the Shore area, “The significant disparities in market performance are due to fundamental differences in the typical homebuyer in each market. The million dollar plus buyer is a relatively affluent second home buyer coming from the Philadelphia or New Jersey suburbs. The Atlantic City buyers are usually primary homebuyers and/or someone looking for weekend getaways convenient to the casinos in a lower price range. The AC casino closings have dampened the demand for property in that area, while the southern Shore communities are much less dependent on AC and much more dependent on a strong national and Philadelphia economy."
Going forward we should see these disparities begin to decrease, and the remaining months of 2015 offer a window of opportunity that is open wide. Contact your BHHS Fox & Roach sales associate and Trident loan consultant today!
Lawrence F. Flick, IV
Chairman and Chief Executive Officer
Berkshire Hathaway HomeServices
Fox & Roach, Realtors® and The Trident Group