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South Jersey Realty Agent Sees Soft-Market Opportunity For Shore Buyers

AVALON, N.J. (CBS) – For those of you who dream of owning a vacation home “down the shore,” now may be the best time in a long time to do it — if you can afford it.

The real estate bust of the last couple of years has bottomed out, realtors say, and prices aren’t going to get any lower.

In the high-priced Avalon/Stone Harbor area, for example, Avalon Realty co-owner Paul Leiser says prices dropped about 30 percent during the lean times.

Sale prices since the first of the year have averaged $1.4 million, Leiser says, and you’d be surprised who’s buying.

“There are quite a few younger people nowadays, it seems, who have made it big in technology, industries, what have you,” he says, “so we have seen some fairly young people — I would say in their 40s.”

If that $1.4-million mark is still a little pricey for you, he suggests you might try Ocean City, Sea Isle City, or the Wildwoods.  And bayside properties are more of a bargain, too.

But Leiser sees prices heading up sooner, rather than later.

Reported by David Madden, KYW Newsradio 1060

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  • CAPS

    Please you can’tgive away the amount of shore homes that are listed for sale. Yea ok I’ll give you 1 million dollars for a house that is worth $125K . Realtors are to blame with their lies and pumping of fake values ! Realtors are going the way of travel agents byebye.

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  • Joe Walsh

    Realtors everywhere are constantly ‘pumping up’ illusionary markets…..that will go down even further. I’m a buyer – not down at the over-rated shore – and I can wait it out until my appropriate ‘proper’ bid is accepted.

  • Samuel A. Maffei

    Whatever! Hype talk by realtors that are about to go broke. Real Estate values are now even lower than when the bust occurred in 2006. They will go lower as more foreclosures go through.

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