302w 83 Posted August 4, 2018 Once upon a time average people built summer homes on the Jersey Shore, Lake Hopatcong, Poconos, etc. Over time as the land became valuable these seem to have disappeared Do affordable summer homes still exist on the Jersey shore? I briefly looked and only saw tenement condos in Atlantic City. I'm in no shape to buy a vacation home, but it's nice to dream. The only average people who own vacation homes seem to have them passed down from family. Quote Share this post Link to post Share on other sites
Lambo2936 297 Posted August 4, 2018 16 minutes ago, 302w said: Once upon a time average people built summer homes on the Jersey Shore, Lake Hopatcong, Poconos, etc. Over time as the land became valuable these seem to have disappeared Do affordable summer homes still exist on the Jersey shore? I briefly looked and only saw tenement condos in Atlantic City. I'm in no shape to buy a vacation home, but it's nice to dream. The only average people who own vacation homes seem to have them passed down from family. The land became valuable BECAUSE people have been building summer homes on it. There's still plenty of relatively inexpensive homes on lakes and such in the Poconos and SNJ. On the Jersey Shore, probably not unless you're ok with buying in flood zones.. lol Expect to have to travel to the deep boonies for anything decent though. A s***hole in the boonies of SNJ with nothing fancy is still 200k... been looking here in the Glassboro area to move out of the 'rents.. Quote Share this post Link to post Share on other sites
Salty 6 Posted August 4, 2018 3 hours ago, 302w said: ... Do affordable summer homes still exist on the Jersey shore? I briefly looked and only saw tenement condos in Atlantic City. I'm in no shape to buy a vacation home, but it's nice to dream. 302w, Not sure what number you class as affordable, but the answer to your question is yes and no. I live in Ventnor, just south of AC, (full time) 8 blocks from the beach and 1 block from the back bays. I was able to pick up a 3 bed/2 bath rancher for $240k which in my mind was a great deal. There are currently at least a dozen properties listed for under 200k with a number of foreclosures being listed in the area of 100k. On the other side of the coin, If you want to live in the beach block, that is a whole other matter. Generally speaking,you are going to need as an absolute minimum $1,000,000 just to have the real estate agent even show you a property with most beach block properties selling between 1.75 and 3.25 million. Jerry Quote Share this post Link to post Share on other sites
JMich3 152 Posted August 4, 2018 I’m in no position to buy anything either but i like to look at vacation homes too. For me , I’d rather be on a quiet lake somewhere in the opposite direction of shore traffic. I’ve see homes with lake frontage ( they aren’t palaces!) for under 100k. 1 Quote Share this post Link to post Share on other sites
302w 83 Posted August 4, 2018 2 hours ago, Salty said: 302w, Not sure what number you class as affordable, but the answer to your question is yes and no. I live in Ventnor, just south of AC, (full time) 8 blocks from the beach and 1 block from the back bays. I was able to pick up a 3 bed/2 bath rancher for $240k which in my mind was a great deal. There are currently at least a dozen properties listed for under 200k with a number of foreclosures being listed in the area of 100k. On the other side of the coin, If you want to live in the beach block, that is a whole other matter. Generally speaking,you are going to need as an absolute minimum $1,000,000 just to have the real estate agent even show you a property with most beach block properties selling between 1.75 and 3.25 million. Jerry I would consider 240k 'permanent residence' pricing. Everyone has different opinions on $$$, but I couldn't imagine buying a second residence at that price. Ideally, I'd love a bungalow Quote Share this post Link to post Share on other sites
SuRrEaLNJ 294 Posted August 4, 2018 Afordable and the PRNJ dont ever go together 2 Quote Share this post Link to post Share on other sites
302w 83 Posted August 5, 2018 10 hours ago, SuRrEaLNJ said: Afordable and the PRNJ dont ever go together One of the reasons I live in PA Quote Share this post Link to post Share on other sites
Sniper 6,372 Posted August 5, 2018 On 8/4/2018 at 2:25 AM, 302w said: Do affordable summer homes still exist on the Jersey shore? They certainly do. Here's on on a lagoon with a dock. Only $139K https://www.realtorbobm.com/listing/21746767-19-compass-road-waretown-nj-08758/ 1 Quote Share this post Link to post Share on other sites
capt14k 2,051 Posted August 5, 2018 They certainly do. Here's on on a lagoon with a dock. Only $139K https://www.realtorbobm.com/listing/21746767-19-compass-road-waretown-nj-08758/ That's exactly like what I had in Bayville. 2 bed 1 bath bungalow on a lagoon. If I didn't despise this state so much I would buy another one. Perfect for owning a boat. Park in the backyard go right out Barnegat inlet or some crabbing off the dock or in the bay.Sent from my iPad using Tapatalk Quote Share this post Link to post Share on other sites
JMich3 152 Posted August 5, 2018 1 hour ago, Sniper22 said: They certainly do. Here's on on a lagoon with a dock. Only $139K https://www.realtorbobm.com/listing/21746767-19-compass-road-waretown-nj-08758/ My aunt an uncle have a place right up the road from there. It’s says as is Sandy damage, my uncles place had about 6 foot of water in it. If this place has been sitting since Sandy it’s in need of a complete gutting if not torn down. The property is sweet , but I’d bet you’ll need another 100k to get that place livable. Quote Share this post Link to post Share on other sites
capt14k 2,051 Posted August 5, 2018 My aunt an uncle have a place right up the road from there. It’s says as is Sandy damage, my uncles place had about 6 foot of water in it. If this place has been sitting since Sandy it’s in need of a complete gutting if not torn down. The property is sweet , but I’d bet you’ll need another 100k to get that place livable.Good point. Probably also have to raise it 6-10'Sent from my iPad using Tapatalk Quote Share this post Link to post Share on other sites
JMich3 152 Posted August 5, 2018 3 minutes ago, capt14k said: Good point. Probably also have to raise it 6-10' Sent from my iPad using Tapatalk The feds were giving big bucks to raise homes, not sure if they are still doing it though. I’m not sure if raising them was mandatory is this area but you definitely won’t be insured if you don’t. Hell I’d demo the house and park a nice mobile where the house was! Not sure the neighbors would be happy . Quote Share this post Link to post Share on other sites
capt14k 2,051 Posted August 5, 2018 The feds were giving big bucks to raise homes, not sure if they are still doing it though. I’m not sure if raising them was mandatory is this area but you definitely won’t be insured if you don’t. Hell I’d demo the house and park a nice mobile where the house was! Not sure the neighbors would be happy . It's mandatory to raise if you don't want your insurance to be more than your taxes. Not sure if money is still available. It was 2 years ago.Sent from my iPad using Tapatalk 1 Quote Share this post Link to post Share on other sites
ted527 21 Posted August 8, 2018 On 8/5/2018 at 0:00 PM, JMich3 said: The feds were giving big bucks to raise homes, not sure if they are still doing it though. I’m not sure if raising them was mandatory is this area but you definitely won’t be insured if you don’t. Hell I’d demo the house and park a nice mobile where the house was! Not sure the neighbors would be happy . Feds were only helping raise houses if it was your primary residence. I have 2 rental houses in Mystic Island, no federal money for me. 1 house didn’t have flood insurance, other one did but no major damage. Still made good money on insurance. Rates started going up so high I paid off mortgage on house and dropped flood insurance. both houses are 60’s shore shacks that all the value is in the lagoon front lots. 1 Quote Share this post Link to post Share on other sites
JayWilling 33 Posted August 8, 2018 Not right on the beach but a few blocks from Del Bay you can get small houses in Villas, NJ for 100-150K. Just have to watch which block you buy in. Plus, then you're right down there a few miles from Cape May. Quote Share this post Link to post Share on other sites