Jersey Shore Investing, The Emerging Investment Location
The hottest segment of an already "Very Hot Real Estate Market" is exploding at the Jersey Shore. Many people in their 40s and 50s who are taking money they would have invested in the unstable stock market are buying vacation homes. Property values at the Jersey Shore, have been bid up as high as 25% to 30% a year for the last 5 years by buyers in New York, Philadelphia, North Jersey and Washington D.C. It is a matter of "Supply and Demand" They aren't making anymore beach. In Ocean City NJ, there are only 18,000 taxable properties and hundreds of thousand of people visit and vacation in that shore town every summer and have for years. The baby boomers are the bulk of the buyers. Typically they are 2-income families who have children that just graduated from college and left the roost. Their primary homes are paid way down or paid off. They get a large sum of money from an inheritance and the first thing they want to do with it is buy a 2nd home or investment property at the beach. Many people are partnering up with a friend or family member to buy homes at the shore. That makes them more affordable. Interest rates are still at record lows and with creative financing; folks are buying properties with as little as 5% to 10% down. The Jersey Shore has some of the Hottest Real Estate in the whole country for investment and life style pleasure. Check out this Money Magazine link of the nations hottest zip codes for real estate and you will see that investing at the Jersey Shore is a "No Brainer"