Great Values in the Long Beach Island Real Estate Market
Determining what makes a good deal in the LBI real estate market requires an understanding of the different contributing factors that influence all homes for sale on Long Beach Island. While there certainly is not a “one-size-fits-all” scenario, the core determinants of value remain consistent among most real estate markets. That said, there are some specific nuances that can truly impact the purchase of a home in the Long Beach Island real estate market.
What Makes a Good Deal in the LBI Real Estate Market
The most basic understanding of what makes a good deal in the LBI real estate market comes down to the following list:
- Price: in any market, understanding price determines a good deal. A home should sell in line with the greater market and hopefully will have immediate equity as a result of skillful negotiations
- Location: in the LBI real estate market there is a significant difference between the valuations of a home and their proximity to the water. Generally speaking, homes on the Oceanside areas of Long Beach Island will be worth more than their bayside counterparts.
- Lot size: A large percentage of the LBI real estate market deals with new construction. Therefore, lot size matters a great deal.
- Base flood elevation: flood insurance should be in the mind of every buyer in the LBI real estate market. Understanding how flood insurance policies are rated and how they impact home pricing is essential.
Of course there are many several factors that determine value in the LBI real estate market. For example, understanding how beach access impacts values in areas like North Beach and Loveladies are essential when shopping for a home in those areas. Every LBI real estate transaction is unique and understanding what makes a good value in the LBI real estate market is a key step to investing on Long Beach Island. For more information about buying or selling a home in the Long Beach Island New Jersey real estate market, please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | firstname.lastname@example.org
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