Three Factors That Can Impact Home Prices in the Beach Haven West Real Estate Market
Beach Haven West NJ Real Estate
The Beach Haven West real estate market has seen a strong wave of activity since Hurricane Sandy. The area has undergone a massive rebuilding effort which will help to improve the overall market and make the area more storm ready in the event future flooding. While the outlook for the Beach Haven West real estate market is positive, there are three factors that can impact home prices in the Beach Haven West real estate market.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West
Three Factors That Can Impact Home Prices in the Beach Haven West Real Estate Market
While there are many internal and external factors that can impact the valuation of a real estate market, there are three in particular that may play a role in future market pricing in Beach Haven West. They are: Interest rates in the Beach Haven West real estate market-Any real estate market is especially sensitive to interest rates. Generally speaking, the higher interest rates climb the less buying power a buyer has. This has to do with the higher cost of the loan outstripping a potential buyer’s income. If interest rates continue to rise this could potentially adversely affect home prices. In addition, there is much speculation of shadow inventories throughout the national real estate market. This essentially refers to bank owned homes that are not yet listed for sale and the surge of these incoming homes depreciating a real estate market. This is especially true in Beach Haven West where many homeowners were forced to leave after the flooding caused by Hurricane Sandy. If banks are still fighting in litigation waiting to foreclose on the property, there is potential for these homes coming on the market and driving prices downward. On the bright side, there has been, as I mentioned, an unprecedented wave of new construction throughout Beach Haven West. Generally speaking, new construction has a positive impact on home prices as lots, teardowns and the overall market improves. With so many new and improved homes on the market, the potential for market rising is strong.
Buying a Home in the Beach Haven West NJ Real Estate Market
While it is impossible to predict what the future of the Beach Haven West real estate market will be there are many indications that prices will rise. There is more transparency with flood insurance costs and the redevelopment of the area has brought new attention to the Beach Haven West real estate market. Overall, signs are strong for the future of home sales in the area. For more information about these three factors that can impact home prices in the Beach Haven West real estate market please do not hesitate to contact us.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West
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