How to Beat the Long Beach Island Real Estate Market
Long Beach Island Real Estate
I am often asked how to get the best deal in the LBI real estate market. Most buyers falsely assume that the best deal can be found in a short sale or foreclosure. That is not at all the case. Distressed sales such as short sales and foreclosures tend to make up a VERY small part of the real estate market on Long Beach Island. When they do come along, they tend to draw a lot of attention, which can create a bidding war or need so much work they overall investment is too much. So, what is the best way to beat the LBI real estate market? Build a new house (carefully). Building a new home offers several advantages, such as:
- The ability to build a home to today’s design standards
- The ability to match the layout of the house to your personal needs
- When following the correct set of guidelines, a massive equity position, usually in the area of 20%-30%
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
How to Beat the LBI Real Estate Market
Building a new home is not for everyone. It is an investment of time as much as money. While the overall process has been refined down to a pretty basic formula, there are stages in the process that require the homeowner’s attention. That said, if you have the time to wait, usually 6-8 months building time, you can attain a significant equity position in the LBI real estate market. If a home is priced correctly, it is almost impossible to negotiate 20% to 30% off the price of a home. There is too much information available to ever really compel a seller to drop their price that low. By building a new home, a buyer in the LBI real estate market can not only get what they want in a home; they can do so well under budget and create a strong investment.
How to Beat the Long Beach Island Real Estate Market
It always surprises me that more agents do not recommend building to their clients, but there are two general reasons why they do not. First, agents are paid on commission. If a buyer is looking to invest $1,000,000 in the market and the agent sells them a house for $1,000,000, they will make considerably more money than if they sell a $600,000 home and have the buyer build. Secondly, many agents lack the technical knowledge to advise on building and design appropriately. Remember, the point of this post is how to beat the LBI real estate market. Construction can only accomplish this if the right formula is followed. In other words, a buyer and their agent need to know where to spend money and what to cut out to attain the most equity possible. No question building a new home in the LBI real estate market is the best investment you can make here. All you need is patience and guidance, and you can beat the real estate market on Long Beach Island! If you have any questions about buying, selling or investing in the LBI 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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