What Low Inventory Means for LBI Real Estate Buyers

Buying a Long Beach Island Home in a Low Inventory Environment

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

Long Beach Island Real Estate

The LBI real estate market has become very competitive. Thanks to Coronavirus, the demand for a home on Long Beach Island has skyrocketed and propelled what an already busy market to where we are today was. This market is unique because it is a seller’s market with high demand and low inventory and a buyer’s market with low-interest rates. It seems likely that 2021 will be another strong year for Long Beach Island real estate home sales, so understanding what low inventory means for LBI real estate buyers is a crucial first step to any transaction.

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

What Low Inventory Means for LBI Real Estate Buyers

There are two things that all buyers in the LBI real estate market need right now. They are patience and discipline. Most homes will sell quickly in the current environment, usually less than a week, and many homes will have multiple offers. As intimidating and frustrating as that may be, a buyer needs to understand that they may have to go through the cycle several times before buying a home. Patience will help to avoid making a rushed or wrong decision. Discipline is as, or perhaps, more important. It is easy to get caught up in a bidding war and overpay for a home. All buyers in the LBI real estate market have to understand what determines a home’s value. Without a thorough understanding of the market’s fundaments, a buyer can’t know if they are paying a fair price or not. Each deal must be examined independently and a price determined for it, based on market trends and the factors that impact value. If the price in the bidding war exceeds this number, time to move on!

Buying a Long Beach Island Home in a Low Inventory Environment

There are opportunities in every market, and there are opportunities in this COVID-fueled market as well. Buyers can still “get a deal” if they know where to look and what to look for. By understanding the market and being willing to make an informed and rational decision, you can still buy a home on Long Beach Island at a great price! If you have any questions about buyingselling 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

www.BuyLBI.com

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

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