Sunday, July 02, 2006

Million Bucks At The Shore

From the Asbury Park Press:

What does $1 million buy you?

The real estate market might be cooling off, but with five consecutive years of double-digit growth in home prices in Monmouth and Ocean counties, it's not hard to spend more than $1 million on a house.

But those big bucks won't go as far in tony Mantoloking as they do in Dover Township. You might get a modest Cape Cod-style house in Rumson for $1.1 million or a brand-new 5,500 square-foot home in Freehold Township for about the same price.

In Lacey's Lanoka Harbor section, you can find a 5,000-square-foot Colonial along a man-made lagoon for $1.1 million. But in Long Beach Island's Harvey Cedars, $1.1 million will fetch a much-smaller 1,830 square-foot home.
In Monmouth and Ocean counties, 1,175 of the 9,899 houses currently for sale on the Monmouth/Ocean Multiple Listing Service, or about 12 percent, were priced at more than $1 million. Of the 2,665 Ocean County listings on the Jersey Shore Multiple Listing Service, which has more southern Ocean County listings than the Monmouth/Ocean MLS, 355, or 13 percent, were more than $1 million.
"Something that used to be $700,000, you know, may be a million or plus," said Tim Gillen, broker at Gillen Realty Inc. in Dover Township.


Anonymous Anonymous said...

The dollar ain't what it use to be....I blame Greenspan and his gang for that one.

I wish Paul Volker was here, he had the guts to give this country its medicine.

I just hope Red China + Japan doesn't start dumping dollars

7/02/2006 07:35:00 AM  
Anonymous Anonymous said...


You are a cat with nine lives!!!!!!
Few people today scope out and connect the dots like you do. HAHAHAHAHAHAHAHAAHAHAAHAHAH!!!!!!


7/03/2006 05:41:00 AM  

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