When there are more Sellers than Buyers, conditions favor the Buyer. Currently, conditions really couldn’t be better for a Buyer at the Shore. Although the real estate market has begun to turn around; almost twice as many sales have occurred in Sea Isle in 2007 versus 2006, average sale prices are down 10 – 20% since the peak of the market in 2005. There is still ample inventory, and mortgage interest rates have dropped once again (current fixed rate mortgages are in the low 6% range).

What does all this mean to a Buyer? Opportunity!

What may have cost $650,000 2 years ago, now is selling for $550,000. The real cost of that money is less, as the interest rate on the loan is lower. And, there are more homes on the market to choose from. Opportunity!

“When people are buying, sell. When people are selling, buy!”
John D. Rockefeller