Why Buyers Will See Fewer Distressed Sales in the Long Beach Island NJ Real Estate Market
Long Beach Island Real Estate Distressed Sales
The Long Beach Island real estate market does not offer an abundance of distressed sales. A distressed sale can be a short sale, bank foreclosure, auction property, etc. Since the economy has been doing well, we have seen even fewer of these sales in the market. Also, if a recession is to occur, likely, the distressed sale inventory will not considerably expand thanks to the robust summer rental market. There are three main reasons buyers should expect to see fewer distressed homes for sale in the LBI real estate market. They are:
- The overall economy is doing well, and people, in general, have more expendable income in our market.
- There has not been a significant catalyst like Hurricane Sandy in 2012 to create a distressed sale inventory.
- The LBI summer rental market provides a steady and reliable income source.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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