Hope all is well. We are reminded at what a difference a year makes as we head into the LBI Summer. The real estate market is still vibrant but in a way never seen before. Just like there is a shortage in building materials, there is also a shortage of properties for sale on LBI and the surrounding water communities. So if you are on the fence about selling, do not hesitate; there is still time to get you to the closing table before the summer season starts. The rental market in comparison is more robust in that there are very very limited units left for this summer. Folks were lining up to rent this year well in advance probably due to the Covid limitations with overseas travel. So if you have any interest in renting your property, do not hesitate and call us right away.
We think that overall the real estate market will return to a more normal state this year in that more inventory will pop up, values should stabilize, and mortgage interest rates will slightly (will take a huge leap of faith and say..) increase but not exceed 4%. We recommend calling Rick Butera as a trusted home mortgage consultant at Valley National Bank.
LBI is coming to life. More and more restaurants and shops are opening up. The popular Viking Village Arts and Craft show is coming up this Sunday May 30. Hope to see you there. Next is the Memorial Day Weekend which unofficially kicks off summer in America.
On a personal note, Laura and Luis have received the 2 vaccinations, our puppy will soon be 1 year old, our Chihuahua mix turns 10 years old, and our Hobie Cat 16 is parked at Barnegat Light Bay Beach!!! Looking for a joyride this summer, call Luis. And call The L&L Team for all source of real estate information and guidance on LBI and the surrounding water communities. “Making Dreams Happen on LBI”