Not to mid direct the thread- but talk about unlucky. After WW2 my dad was stationed in Alaska. When leaving the service- late 40’s early 50s. He had a homesteading opportunity but he just wanted to get home. A couple of his buddies stayed the extra few years required and each claimed something like 200 acres. A few years later- both were bought out by developers for nearly a million each. We are talking in the 50’s. Why Dad Why…
OT: Cost of shore rentals - will people continue to pay?
- Thread starter RUskoolie
- Start date
Ironically, the condo tower was called The Shore. During the crash, Lefrak was closing hundreds of units at an identical second tower at higher prices the first tower.
Know spring lake very very well. In spring lake this is the weakest year for rentals since 2019. And off season rentals are not happeneing.
Everyone in Europe this summer.
It's weird because shore properties are up massively post covid but rents this year are down to almost pre covid levels. . No brainer to rent vs buy.
Everyone in Europe this summer.
It's weird because shore properties are up massively post covid but rents this year are down to almost pre covid levels. . No brainer to rent vs buy.
I’ve gone to Marco island the last 3 years. Really not anymore to do there than the jersey shore. Don’t get me wrong, I really liked it but it’s pretty boring town. And the marriot was a boatload to stay at for 8 days
We looked there and it was definitely super pricey
I’ve been once, and it was super sleepy, so I’m anticipating getting out at least one day to go to Miami, take a boat ride another day, and do the Everglades tour another day
I like that they also have wave runners associated water sports nearby as well
We chartered fishing boat a few times. That was cool. Then you can take the fish to a number it local bars/restaurants and they cook it up for like 13$
Nice yeah that’s definitely something we are considering. Was it pricey? Is it the book?
No it wasn’t crazy. Not cheap but not insane. We went twice in the backwater and then once about 30 min out into ocean. Caught the same crap though and we found the backwater fishing in the mangroves to be more fun. Just go to the marina. There are guys everywhere to hire and I’d take them to the snook Inn to get them cooked up
Def will do that
Heard the Snook got crushed w the last hurricane there
Loved that place
Ever been to Tin City in Naples? Fun for an afternoon/evening with the kids.
Not even sure if it’s still there after the hurricane?
Not according to the guest list at some of the parties this weekend.
Unless you meant visitors?
Forget the Jersey Shore. Head north up to Amity. It's a great summer town that needs summer dollars. Excellent police force too.
I liked the alligator thing where you can hold them (they all looked stoned, same with the guy running it - lol), some of the restaurants weren’t bad and the same for the ice cream place.
But the funnest part for the kids could be that jet boat ride.
And yes, I was exaggerating about the amount of time.
Ice cream place definitely was good. I didn’t see alligators or jet boats. Maybe it was me and I rushed everyone route. Lol.I liked the alligator thing where you can hold them (they all looked stoned, same with the guy running it - lol), some of the restaurants weren’t bad and the same for the ice cream place.
But the funnest part for the kids could be that jet boat ride.
And yes, I was exaggerating about the amount of time.
I think it really depends on the town. In South Jersey we bought a house last year, we used the old rents from the previous seller. Did some redecorating before the 22 season, new pics, upped prices by 15% and all 18 weeks were booked by end of Oct for 2023. Year 1 was cost neutral.
2023 - second year is projected at a slight profit even with us using 2 weeks. We plan to do some more upgrades, raising rent again 15% for 24' season and half our weeks are already booked. We started getting calls in Feb 23 for Summer of 24.
2024 we are projected to break even and that's with us using 3 weeks.
Additionally, we love the off season and are down there all the time, much more than we ever imagined.
Could things cool off? Absolutely. But I was able to look up the history on the house for its entire rental history and rates never went down year to year, even after the 2008 recession. Additionally, in our town owners listing homes to rent since covid, is down close to 50%. Most new buyers are not renting they are using them. Now with WFH changing I'm sure that will adjust.
JW or Crystal Shores? We stayed at the latter twice. Nice place, plenty of room in the villas.
We were looking at that place for next winter but I heard it’s a battle for lounge chairs on the beach. Opted for a VRBO a little further south from there
Crystal Shores didn't have a beach overcrowding issue when we were there, but it's possible. However, we normally move around quite a bit. During each of our trips, we did 2 private charters to Keywaydin, which we love. We also enjoy the Tigertail beach area, so we don't spend too much time at the resort beach. We book Crystal Shores because we love the villas and like that section of the island (for restaurants and stores).
Our trip there a few years ago was canceled because of one of the hurricanes but this is probably Marriott Vacation Club’s top property. I’ve stayed at maybe 15 of them with our ownership and I hear nothing but rave reviews. Can’t beat the villas you can get through them at all of their properties.
+1
This is a trip that is somewhat unlucky for us as well. We have gone twice, but two other planned trips got cancelled due to a hurricane (Irma?) and then COVID (spring break 2020). So, we are only batting .500 with Marco Island!
Though, it is funny how $500k of liquid assets can look big when you are 35 with 2 kids under 10. So, dropping 20k for a week at the shore and then anther 10-20 for a winter vaca to a Caribbean island does't seem like a big deal. Until college shows up and then the count down to retirement.
Seems summer rentals are down everywhere.
I would take that over going into fecal bacteria waters that you can’t see your toes in two feet of it then to add the insult to injury of actually having to pay to access the beach. Don’t even want to talk about parking.
Having grown up in NJ, never understood the summer craze to go “down the shore” to sit in traffic for “meh” beaches. I can think of 50 other beaches up and down the east coast or a 2-3 hour plane ride away that gives you greater value in a number of ways for the money spend on you and family. Don’t get me wrong enjoyed going to visit Belmar, Pt. Pleasant, Wildwood and Cape May when crowds were bearable midweek but I’d rather drive to Del, VA beach, OBX, SC, South FL, or fly to Caribbean any day of the week than pay premium for mediocre beach culture driven up in price by Manhattanites.
GO RU
driving to SC or S FL? no effing way. Del, Va Beach and Del are within driving distance.
NJ beaches are fine. Locals know where to go to avoid crowds and problems. Gulf Coast beaches are pretty at sunset but boring AF. And the same types of problems exist as in NJ beaches from Miami to Ft Lauderdale. The propensity of Jersey people to **** on Jersey is funny
I was in Seaside Park mid-July for a week and was literally swimming next to schools of sting rays in clean aquamarine waters on a clean beach.
Joe P.
Some will always try to show they're above it all.
You do realize our water is not blue/green and murky because it's dirty, right? Instead, you do know it's nutrient rich (like plankton) because it's cooler. Where as Carribean waters are basically ocean deserts devoid of any nutrients. Also, our Ocean floor is a fine dark silt as opposed to a coarse light-colored coral. Not only color differences but, fine silt kicks up during waves and is suspended the other does not. You knew all this right?
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Water did seem more clear this year. Are you sure it’s sting rays? I think it’s flounders. people were fishing off the beach and catching them.
There is a small section of Manasquan Beach closed to the public due to the growth of federally protected plants that only thrive in the enviornmentally cleanest and healthiest beach/tidal areas.
Was just looking, you can’t get a decent 4bd house in lbi for under $6k.
And for $6k the place is kinda junky with no view and walk to the beach.
How much for a "decent" house? Maybe standards have been raised, and to each their own, but could not imagine dropping $4K, and certainly never $6K for a one week rental.
Stone Harbor beaches were beautiful this season (water and sand). Seven Mile island had a replenishment project earlier this year.
I think what happened is during and post pandemic people weren't traveling and if they took a vacation it was close to home. The shore real estate folks used that to charge ungodly prices for rentals. Now people are vacationing far away from home again but owners are refusing to bring prices back to pre pandemic levels.