Bradley Beach NJ Real Estate: How to Tell When A Price Is Too Good To Be True

If you are currently looking to buy Bradley Beach NJ real estate, you probably have a good idea of the general range you can expect to spend on a home.  So you might be surprised when a great-looking home shows up on the MLS with what seems like a shockingly low price tag attached.  The extra-low price seems too good to be true and – most of the time – it is.   

In many cases, the price you are seeing does not represent the actual asking price of the property.  Rather, it is likely a property that is in “pre-foreclosure” and the amount listed actually represents the balance of the defaulted loan, or the amount the current owner is in arrears.  Below is an excerpt from an article I found at Inman News that does a great job explaining how these properties end up on MLS search engines, and what you can do to spot them: 

Real estate agents, investors and sophisticated buyers will know that it’s impossible to buy a house in Bradley Beach for $4,712. But first-time home buyers may miss the fine print on sites like Yahoo and Trulia that explains that this is not the home’s listing price — and that the property may not even be for sale.The practice of mixing pre-foreclosure properties with listings of for-sale properties by major listings sites like Yahoo Real Estate and Trulia is misleading to consumers and damages the credibility of the sites that allow it, according to a company that’s in the business of supplying similar information itself.

Brad Geisen, founder and CEO of Foreclosures.com, singled out Yahoo Real Estate and Trulia — which have partnerships with Foreclosure.com’s rival, RealtyTrac — as sites that are presenting pre-foreclosure data to consumers in a potentially confusing way.

Property searches conducted by Inman News show both sites provide information that could help consumers understand that the pre-foreclosure properties are not “listings,” and that the dollar figures displayed with each are not asking prices. But there does appear to be potential for confusion.

Checking “foreclosures” under “listing type” and entering a maximum value of $100,000 in the “price” field, a Yahoo Real Estate search for properties in Hermosa Beach, Calif., turned up seven properties, accompanied by dollar figures ranging from $4,712 to $100,000. According to Yahoo, the median asking price for 34 homes on the market in Hermosa Beach is $1.29 million.

But click on any of the properties for more details, and you are given a “property description” that reveals — for the first time — that the dollar figures associated with each property in the search results is not the asking price. Although “price” was specified in the query, the numbers may represent “estimated loan balance” or another figure related to the borrower’s indebtedness.

 

The moral of the story here is two-fold;  first, be sure to always read the fine print and don’t trust everything you see on the Internet and, second, always consult with an experienced Realtor who can help you determine the legitimate value of a property and assist you in finding the home of your dreams.If you are ready to learn more about Bradley Beach NJ real estate, please call me at 732-775-2774 or visit PatrickParkerHomes.com.  Request a complimentary Relocation Package!

 

Bradley Beach NJ Real Estate Tip: What Is Universal Design?

You may have heard buzz around the term “universal design” in recent years, but do you know what it is or how it affects the Bradley Beach NJ real estate and construction markets?

 

According to Lowes.com, universal design is the creation of products and environments meant to be usable by all people, to the greatest extent possible, without the need for adaptation or specialization. The intent is to simplify life for everyone by making products, communications and the built environment more usable by as many people as possible at little or no extra cost. Universal Design benefits people of all ages and abilities.

 

Think this is some “far out” theory just now working its way into the “modern” world?  Think again:  if you’ve ever walked through an automatic door, you’ve experienced a version of Universal Design.   Likewise, a ramp or curb cut is just as welcome to someone with a baby stroller as it is to someone in a wheelchair.

Universal Design has become a hot topic in the Bradley Beach NJ real estate market as more residents are retiring and making the decision to “age in place,” as opposed to moving into assisted living facilities.  As we discussed previously, this aging generation is already driving the design of new products for the home that will affect real estate in the future.  Even if you are not part of the “mature” population, however, Universal Design should be important to you.  If you are planning to build or renovate, keep in mind the principles of Universal Design and know that it’s more cost effective to add many Universal Design features during the planning stage. There are a number of design features that can be built for little or no cost. Their addition at the beginning saves the need for future retrofits.

Re-capturing the American Dream With Bradley Beach NJ Real Estate

In the past, owning a home has always been perceived as a major component of the “American Dream.”  Unfortunately, because of the recent real estate market activity, home-ownership is often seen now as more of a nightmare than a dream.  But that doesn’t have to be the case!  Even in a slower economy, purchasing Bradley Beach NJ real estate can still be a step toward achieving your own “American Dream!” 

 

Inman News offers some reasons why home ownership still has benefits and advantages, including:

• The opportunity to build equity and create wealth over time.
• Protection from rent increases or eviction at the whim of a landlord.
• The pleasures of a relatively larger home, suitable for a family, and with a backyard, garage or other auxiliary space.
• The freedom — design review boards notwithstanding — to improve, remodel or redecorate to suit one’s own style and budget.
• A variety of lucrative income-tax breaks.
• Pride of ownership and a greater sense of security and stability.

 

So, if you are thinking of purchasing Bradley Beach NJ real estate, now is the time!  Don’t let the negative media attention on the market get you down – home ownership is still an attainable goal and a big part of the American Dream.

 

If you are ready to begin looking at Bradley Beach NJ real estate, please call me at 732-775-2774 or visit PatrickParkerHomes.com.  Search All Bradley Beach Real Estate.

Getting The Price Right On Bradley Beach NJ Real Estate

“Location, Location, Location.”  We hear it all the time in the real estate world and many assume that location is the most important criteria to buyers when purchasing a new home.  But what is it really that determines why one property sells more quickly than another?

 

Price.   Having the right price was the most important factor in deciding on one home over another, according to 2/3 of the respondents of a recent poll conducted by the National Association of Realtors.

 

Sellers agreed on the importance of the right price.  “Getting the price right” was and is one of the most frequently cited challenges for sellers who are not represented by a Realtor®.

 

Other factors that were included in the poll were – no surprise – location, but also condition of the property, staging, and upgrades.

 

If you are interested in learning about Bradley Beach NJ real estate prices, please call me at 732-775-2774 or visit PatrickParkerHomes.com.  You may also begin searching the MLS!

Celebrating Independence Day on the Jersey Shore

Happy 4^th of July, Bradley Beach!  Although this weekend is a time for fireworks and enjoying time with friends and family, it is also a time to remember what makes our country so great – our freedom.  So as you gather with friends and family on Friday, take a moment to thank our military—living and dead, at home and abroad—for the sacrifices they have made for us.  Because, as we all know, freedom isn’t free!

 

The 4^th of July is a special time on the Jersey Shore, and there is no shortage of activities and events to keep everyone busy all weekend!  Be sure to get out and enjoy the festivities.

 

We’ll return to discussing Bradley Beach NJ real estate next week; however, if you would like more information about Bradley Beach NJ real estate, please call me at 732-775-2774 or visit PatrickParkerHomes.com.