Don't Give Up Trying to Buy a Home in the LBI Real Estate Market

Don’t Give Up Trying to Buy a Home in the Long Beach Island New Jersey 08008 Estate Market

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Don't Give Up Trying to Buy a Home in the LBI Real Estate Market — Don’t Give Up Trying to Buy a Home in the LBI Real Estate Market

Long Beach Island Real Estate

There is little doubt that we are still in a seller’s market on Long Beach Island. Buyers face a number of challenges in the LBI real estate market, but the key is to hang in there and remain disciplined. There are always opportunities in any real estate market, so knowing what to look for and what determines value in the LBI real estate market is more important now than ever. Buying a home on Long Beach Island is still an option for the vast majority of buyers.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Don’t Give Up Trying to Buy a Home in the LBI Real Estate Market

One of the most important things to remember is that nobody can time the height or bottom of a market, and the long-term benefits of owning a home in the LBI real estate market make such an investment worthwhile. The trick is to know what to look for. For example, understanding how lot size, view potential, building envelope, and local zoning impact the ability to build a new home can help you identify a potential investment opportunity. By identifying the right property, even if conditions are not ideal today, the property should show a significant appreciation rate in the long term. Currently, one of the most discussed reasons not to buy a house right now are mortgage rates. While they are higher than they were a couple of years ago, they are still low, historically speaking. Additionally, mortgage rates change all the time. It is, of course, better to buy with a lower mortgage rate but to do so, you have to be active in the Long Beach Island real estate market and identify the right opportunity. Lastly, prices will continue to increase. Even if individual markets slow down and shed some of their value, and even if the LBI real estate market is one of them (although there are no signs that point to that happening), over time, prices will increase. That means that by waiting, you stand a good chance of paying more for a home on Long Beach Island than you would today.

Don’t Give Up Trying to Buy a Home in the Long Beach Island New Jersey 08008 Estate Market

Of course, nobody can predict the future, and there is no way to say for sure where prices, mortgage rates, or inventory will be in 1, 3, or 5 years. That said, inventory is one of the best predictors of future values. It is very simple supply and demand. Inventory levels are very low right now and show no signs of meaningful change. This makes a strong case for prices to continue to rise, albeit at a slower pace, which means that this is a good time to be an active buyer in the LBI real estate market despite the challenges. For more information about buying, selling or investing in the Long Beach Island real estate market please do not hesitate to contact me.

By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market