Money crunch helping NJ vacation rush

March 24, 2009 3:34:53 PM PDT
The economy is forcing more people to stay closer to home. So right now could be the perfect time to start making your vacation plans. The Jersey Shore is expecting a banner summer rental season.

Why? Because places like Seaside Heights are just one tank of gas away from most of the tri-state area.

Real estate professionals tell Eyewitness News they are expecting more than the families who traditionally come for a week or two. The shore is expecting a tide of newcomers. The newcomers are people who decided to save some cash by staying close to home.

"You get a lot of bang for your buck," said Mike Loundy of Seaside Reality. "We like to think we have a lot of value, the beach and the boardwalk are beautiful and our prices are inexpensive."

Loundy's family has been running Seaside Realty in Seaside Heights since the 1930s. He said the market was soft last year, but he doesn't see that for the summer of 2009.

"The good rentals go early," he said. "We're finding that the more inexpensive rentals are very active now."

In Ocean Gate, Mayor Paul Kennedy said realtors on the bay are seeing more demand.

"The rentals are up about 50 to 60 percent on minimum," he said. "It looks like we're going to have a great summer, probably one of the best summers we've had in a long, long time."

The good news for potential vacation renters on the shore in a boom in rental construction. The results will be more units available on the shore.

Web produced by Ilene Rosen


NEW YORK AND TRI-STATE AREA NEWS

USEFUL LINKS:
  • VIEWER PHOTOS AND VIDEOS

  • REPORT TYPO

  • GET WIDGET

  • EYEWITNESS TWITTER

  • FIND US ON FACEBOOK



  • Load Comments