Going to be one of the biggest assets in the coming future. If history serves correct, Hurricane Andrew (FL), Katrina (Mississippi / Louisianna) both resulted in a massive improvement of the housing market. Combine that with the current levels of competition, low inventory, and decreasing Cap Rates, this area will see a huge uptick in Multi-family residential value. Investors seeking sub $100k properties need not apply though.
You heard it here first
CHEEVES
http://www.NewJerseyRealEstateGuys.com
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeTo much money for such a low cap
I assume now after Sandy that area is not that great for the investment. Either way I prefer investing somewhere in the Southern states, like Texas.
Cap Rates are about 8% and real actual 8%. NJ has always made good investment property being so close to NYC. Hurricane Sandy will only increase demand in the housing market. Hurricane Andrew and Hurricane Katrina spurned growth.
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeI hope so,even though Sandy is a terrible hurricane and a disaster to many people. Do you think prices will increase now as well?
Across the boards, we are not seeing much buyer fallout. However, loans with committments will need to be reinspected prior to closing. So it's a small setback, but not something that will trigger a fall in prices. Inventory is way low in Northern NJ and buyers aren't afraid of continuing to buy. Just reporting what I'm seeing.
I expect to see a boom in the suburbs
CheevesFinancial | Cushman & Wakefield - Commercial Property SW FL
http://www.CommercialRealEstateVoice.com
Email Me | Phone MeCheeves whats up ? How are you ? Been In Canada quite a bit lately set up both Sanfrancisco and Toronto as new areas.
How are things up your way and send me the info to get add in Ny post
Lets touch base this week
Alex
Yes been away but been busy and now Dec is only month I do not Travel so will be around here for a bit
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