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65 Hiering Avenue
Seaside Heights, NJ 08751
Toni Ann Muro with Keller Williams Shore Properties, original listing - (732) 797-9001
$2,250,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
6094 Square Feet
Property Description
Value added Motel is on residential lot. AMAZING INVESTMENT OPPORTUNITTY at the Jersey Shore!! Located at the most northern entrance into Seaside Heights. This property is situated in a PRIME LOCATION just a few steps from the Beach and Boardwalk. Take the sky ride shuttle above the boardwalk while enjoying the beautiful Ocean views. So many fun things to do and great restaurants attracting a steady flow of guests. The property features 20 spacious rooms equipped with modern amenities and stylish décor, along with swimming pool, cozy lobby and ample parking for guests. Having an excellent reputation and strong financial performance, this motel has the opportunity for a lucrative business opportunity.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Commercial Sale-Other
Year Built
1976
MLS Number
--
Location
Address
65 Hiering Avenue
City
Seaside Heights
State
NJ
Zip Code
08751
County
OCEAN (SOUTH)
Listing
Name
Phone
(732) 797-9001
Office Name
Office Phone
(732) 797-9001
Agent Name
Toni Ann Muro
Agency Phone
(732) 797-9001

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.