Immaculate Reversed Living Long Beach Island oceanfront, panoramic views, featuring all the latest amenities. Open living, kitchen dining area, cathedral ceilings, and built in cabinetry around both the fireplace and Hi Definition TV. Elevator for convenience. Three levels of trex and fiberglass decks, including rooftop. outside shower with changing area, central vac, Cedar Shake Vinyl Impression siding, Irrigation system everywhere including decks, a pleasant Tranquil location, but only a few blocks away to the heart of Beach Haven. Beautifully landscaped, brick pavers, meticulously maintained, a wonderful location on the Beach!

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In 1987, the Oceanfront sales market had peaked on LBI.  Six and seven years later I was selling oceanfront homes for approximately 25% less than the 1987 climatic sales market.  Then Oceanfront land began appreciating slowly from1992 to 1998.  In that time period, the average oceanfront home increased a total of 24%.  Over the next seven years (1999-2006), they increased another 329% – bringing total appreciation up 353% from the low of 1992 to the high of 2006!  The average oceanfront value in 1992 was $553,844 and had peaked in 2006 to $$2,508,891.  (Multiplied by 453%, subtracting the initial price brings us up 353%).

I feel history is repeating itself with approximate timing, appreciation & depreciation. We have already experienced the seven or so years of a depreciating LBI home sales market from the 2006 peak.   From the peak, values were down approximately 20% on oceanfront and approximately 30% on bayfronts.  Oceanfronts are slowly going back up in value and bayfronts should follow soon.

Most Buyers are more likely to purchase a property if the Selleris asking a fair price reflective of today’s market value. These buyers are excited that they are able to afford a vacation home on LBI!  With attractive mortgage interest rates and competitive asking prices, along with a variety of properties to choose from, it’s a great time to buy or sell on LBI!

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