We hope that this message finds you healthy and well. With the exception of stopping into the office from time to time we are still quarantined and working from home.
In the last couple of weeks we have been receiving numerous emails and phone calls asking for our thoughts concerning the Real Estate Market down the shore. First and foremost, we are taking a wait and see approach like everyone else HOWEVER, there are some big differences when you compare this with the 2007 housing crisis. The first major difference is that the people that have purchased homes down the shore in the last 10 years have taken advantage of the low interest rates and the much stricter guidelines when applying for a mortgage making the homes much more affordable to people despite the stock market volatility whereas a lot of the people that purchased leading up to 2007 were over leveraged with mortgages that most couldn’t afford.
Looking forward, it is our belief that once this pandemic has been contained the pent-up buying demand is going to be extremely strong creating a rapid recovery of the market.
In the meantime, please stay safe and healthy. Give us a call or send us an email if there is anything that we can do for you. This will pass and we will be back in Sea Isle enjoying the beautiful weather in no time.
If your property is currently listed with another broker, please consider this informational and not a solicitation
"I had the pleasure of working with Nick when he sold my condo unit. Nick is a very hard worker and gets the job done. He hosted broker open houses to try and help with the selling of the condo and was on top of everything. I look forward to working with him in the future and I will be confident to tell anyone I know to use him."