Short Sale Update On Long Beach Island New Jersey

Dated: 03/19/2014

Views: 4453

Short Sales and Foreclosures in the Long Beach Island Real Estate Market

Many buyers in the LBI real estate market assume that a short sale or foreclosure is going to be the best opportunity to buy a house on Long Beach Island. There are some current trends in the LBI real estate market regarding short sales any buyer should be aware of such as:
  • There are only about 10-20 short sales, bank owned properties or foreclosures for sale in the LBI real estate at any given time
  • Short sales are distressed properties are spread rater evenly throughout Long Beach Island although Ship Bottom can tend to have more than other areas
  • Short sales and foreclosures can be more common in the winter since distressed homeowners can no longer benefit from summer rental income to help pay a mortgage
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