BEACH NOTES ... 10/31/2009 ... Ocean City, New Jersey

We Still Have the Rest of the Fall ... Or do we? ... from Dustin A. Peters, French Real Estate (Ocean City, NJ)

I have a long memory dating back to last year just about this time. What happened was that the entire sales market slowed down quite quickly due to the impact of national and world economic conditions. Everyone just stopped looking for shore property here in Ocean City, New Jersey.

Many of us continued to send emails, to phone buyers, to operate open houses. But the town was quiet for the rest of the fall. Looking back, there were some great sale listings in most of the property categories out there. The mortgage vendors still had some great rates and products for buyers. Even property owners interested in making a property change had been around, but they too stopped looking.

Let's flash back to October, 2009 ... three weeks ago we had the nor'easter and the rain that causing some real flooding throughout Ocean City. A great deal of beach erosion also occurred. The causeway was closed part of Saturday and Sunday. Obviously, there was little interest in real estate during that weekend.

But last weekend, and now this weekend, with better weather (in fact, sunshine today plus beach-walking weather) has not increased the traffic flow in Ocean City. At my open house last weekend, the streets were quiet with little foot, bike, or car traffic on the streets. This weekend at another open house it was much of the same. The town is dead right now in terms of buyers. In talking with other real estate agents, we are all in much the same state of mind. The properties are out there, the mortgage rates are still low, and it remains a great time to buy. But where are the buyers?

Again, there is always a positive in the negative ... if you are one of the few who are out there looking for property in Ocean City, New Jersey at this time; you are ahead of the curve. You have some great possibilities in that competition will be down. Now is the time to be out there checking out property!!!

If you are looking at the Northend or Gardens sections of Ocean City, New Jersey; we have some excellent sale listings at French Real Estate ... go to www.FrenchSales.com for details. Have other questions regarding property in this area or elsewhere: give me a call at 888-215-9935 or email me at Dustin@BeachNotes.net

Thanks for taking the time to read this posting. dap