Picture Courtesy of Keeping Current Matters...
What Could Ocean County’s Home Sellers Learn From Hurricane Irene?
Now that Hurricane Irene has come and gone, what could we (in the Ocean County real estate market) learn from her? Before we take a look at some of the lessons Irene’s visit has to offer, let’s watch a short video I created just days before her arrival, when Ocean County was on high alert:
Better Safe Than Sorry; Be Prepared Ocean County!
Already, the criticism of Governor Christie’s “mass evacuation” of New Jersey’s shore communities has begun. What if Irene had been worse? What if we didn’t take her so seriously? What may have happened to those living in those communities if they didn’t listen to the Governor and evacuate?
Perhaps, more lives would have been lost?
There is another storm coming to Ocean County. This one is NOT weather related. As we heard in the video, the banks are now free to foreclose without restriction in the state of New Jersey. This will result in the “Shadow Inventory” of distressed properties being released into the Ocean County real estate market over the next few months.
Just how many “Distressed Homes” will be added to the existing glut of inventory remains to be seen. One thing is certain no matter the amount; this surplus of foreclosures will drive home prices down in Ocean County!
How can Ocean County’s Home-Sellers weather the storm? If you are already listed, meet with your real estate agent and price your home to sell now. If you NEED to sell by the end of this year, get your home on the market today at the RIGHT PRICE. Don’t become a victim of complacency. Just because Hurricane Irene wasn’t as destructive as predicted, doesn’t mean the next storm won’t devastate Ocean County…
