Philadelphia Inquirer article

Good article today about shore real estate in the Business section of the Philadelphia Inquirer (I would link the article, but the pop up ads drive me crazy).

An interesting quote: “In Avalon and Stone Harbor, home to some of the Shore’s most expensive dwellings, prices rose 59.3% between 2000 and 2010.  They have fallen 18.8% since 2006’s second quarter…”

The bottom line is that residential real estate (including seashore real estate) is a solid long term investment.   

For a vacation home purchase- pick a great location, and spend only what you can afford to carry.  Rental income will help with the expenses, but will not pay the mortgage.  It’s a lifestyle decision.  Will your family enjoy time at property?  Will the home be a gathering spot for your grown children?  Will this provide the needed escape from the real world?

I feel so fortunate to be part of the dream – helping hundreds of buyers/sellers/tenants on our seven mile island over the years.  This is my home as well as my business, and  I appreciate the real “value” of our real estate!