Real Estate & Baseball: You’re up to Bat...

October 2007

If you read and treasure every word in this “Real Estate” column over the years (let me know if you are out there!!!), on occasions I repeat some ideas. Why? Because I believe they are so important that I must emphasize them over and over again. One thing about being a South Jersey resort Realtor is that you don’t generally see your Buyers, even Sellers, much of the time. Not all, but most, live in another community most of the time.

But once they arrive in your location, it is fairly easy to identify them. Buyers have usually been longtime rental tenants, often throughout South Jersey. If they are renting in two-week time frames, they are automatically “Buyer material,” even if they haven’t recognized it yet. Often those coming down for “long-weekends” fill this bill as well...in other words, they are back again and again.

Owners were just like these folks a time ago. How do you recognize an Owner? Usually by their relaxed look, the causal clothing that is always here at their South Jersey location. Plus they always want to talk and ask questions about real estate.

I think you are realizing where we are going here...it’s a lifestyle adjustment when someone makes the decision to buy a second home or investment property...and particularly in South Jersey. Why? Because generally these Buyers, either type – second home or investment, plan to use their property as well, because of their closer proximity to their main residence. And most of the time they have had some previous personal or family experience with their location in South Jersey where they want to buy.

Since I am an Agent who handles both sales and rentals, I often joke with the people: “Be careful, if you start to come down here too often, or too long at one time, you are likely to buy a property.” They laugh...but usually one member of the group has a more serious eye looking back at you.

Then I remind them that my wife and I were one of this group about thirty years ago, buying about twenty years ago. Then I start to get a series of questions. And so it begins.

So, come down for a long weekend...stay for a lifetime. Don’t tell me it doesn’t happen. I’m someone always alert to make it happen for those ready for it. Now the more serious side of the decision. Buyers used to leave in the summer saying: “I’ll be back in the Fall when the prices are lower.” I haven’t seen this much in the past seven years,...but this may be one of very few fall seasons when it is still true...in fact, it may just be the best time to buy in the past seven years. I always refer to this as “Getting on the Wave.”

If you are going to be “a player in the game,” you have to step up to the plate with intentions of getting on base. The real estate market in South Jersey is in that type of ballgame right now. For Buyers, it may be the best time to get a hit. The mortgage rates are still as good, even getting better, as ever. They are still at a historically low point. Let’s say that you are up against a relief pitcher that tends to throw the high fast one which is what you love to hit. You’ll never see him again. Finally, market appreciation here in South Jersey has been taking a nap. For those who believe it’s a long winter nap...it will slowly wake up. Another baseball reference: if you get that hit, the manager will probably be considering you for a big financial increase in the next few seasons. Get that hit now.

Now I conclude this “Inside Real Estate” column on September , so you realize that being a Phillies fan, baseball has been on my mind.

Hopefully, as you read this, they will have continued to get those necessary hits. We’ll see. But you’re still up at the plate.

Real Estate “Tip of the Month”

Let’s continue with the baseball/ real estate connection. You can wait until Spring Training Camp in the Spring if you want. But in order to get that hit right now, talk with a good batting instructor; that’s your favorite real estate agent in the South Jersey location of your choice. Having a plan of action is much like extra batting practice or some weight training, or having the right diet. Be selective of the pitches you are going to receive...or in other words, pick a price range and carefully check what is available and start visiting some of those properties.

Real estate is just another game, but in order to win you have to play the game.

Dustin A. Peters is an Agent with French Real Estate, Inc. – Ocean City, NJ. He invites readers of this column to submit comments and questions to him at DustinPeters@Realtor.com.