Sunday, February 05, 2006

Open House Observations 2/5/06

I drove through Belmar today and stopped by two open houses. Before I describe the open houses, I think it's important to point out that Belmar has a huge supply of houses for sale. There are for sale signs all over the place and it almost looks like people are trying to escape town. I drove through Avon to just to see if there were lots of houses for sale and I would guess that Avon had about a third the number of houses for sale that Belmar did.

I have a theory as to why Belmar has a huge inventory compared to the other nearby towns. I think that the crackdown on drinking and the effort by the mayor to make Belmar less of a party town has caused many people that rent houses to college kids to try to cash out.

In any event, there is lots of houses to choose from in Belmar and the Realtors that I spoke with were aware of that. They definately did not try to convince me that the current market was strong or a "sellers market", and seemed resigned to the fact that there was a ton of inventory up and down the coast. Both Realtors, in fact, said that many people are trying to sell now because prices are weakening.


Anonymous rbyzell said...

i used to live in belmar and still frequent there a lot. there is a strong local movement in the town to get rid of the current mayor in the next election. mayor pringle for whatever reasons (maybe because he is a real estate lawyer) want to turn the town into leave it to beaver/spring lake/that means wealthy people only. all we can do is hope that the bubble bursts soon so that things return to normal and some of the jersey shore is left to us regular folks.

Tuesday, February 07, 2006 10:21:00 AM  

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