When I am asked about the real estate market at the shore, my first thought is the return of buyer confidence.  Potential buyers have been watching the market and are ready to move forward with a purchase- if the right opportunity is available.
There are many options for a buyer as they proceed methodically through the selection process. If a property is priced higher than the competition, the home will quickly be eliminated from their list.Â
With the activity in the last quarter of 2006, and the 1st quarter of 2007, we have true comparable sales to establish current market value. For a single family home, the “land value” is the leading factor. The age/condition of the structure, and more importantly, the value of the structure to the buyer- completes the picture.
We expect market activity to increase as summer approaches.
Spring Time at the Shore
We all look forward to spring time- but at the shore, the weather is a test of patience. 2 weeks ago I cleaned my porch and deck furniture on a warm sunny day, and last weekend I had to tie it down in anticipation of the nor’easter cruising up the coast. The winds change to a south and east flow- creating more foggy and damp days. We love that same ocean breeze all summer long, but in April and May it makes for some dreary days.
We were fortunate with the weekend storm. There was typical tidal flooding along some streets near the bay. 40 mph winds that turned from the NE to West (which helped with beach erosion). Plenty of rain for our small yards and flower beds.