ASBURY PARK- Buy or Not????? (Deal: low income, real estate, 2010)

[sallyg]

My parents are seriously considering putting an offer on a condo in Asbury Park- on Deal Lake Drive. They would live there full time when they retire in a couple of years. They currently live in NY and aren't too familiar w NJ. I have heard a lot of sketchy things about Asbury Park, but realtor assured them it was "the place to buy" and up and coming. Any opinions/ advice. Is it dangerous? Would you feel safe walking around at night? Would it be a nice place for retirees w easy access to NYC???? Do you foresee Asbury Park becoming a highly desireable place to live or totally unrealistic? any recommendations would be great! THANKS!

[syncmaster]

Originally Posted by sallyg

Do you foresee Asbury Park becoming a highly desireable place to live or totally unrealistic?

Not in the next decade, IMHO.

[LaceyEx]

Not at all!

[emanon]

As long as the so called real estate "experts" say no to Asbury Park it probably never will come back. But someday people will take a chance and will benefit from their forsight and the "experts" will be shocked. They will be telling anybody who will listen. "I could have bought there when prices were cheap".

E

[BrianH1970]

Originally Posted by emanon

As long as the so called real estate "experts" say no to Asbury Park it probably never will come back. But someday people will take a chance and will benefit from their forsight and the "experts" will be shocked. They will be telling anybody who will listen. "I could have bought there when prices were cheap".

Yeah but for retirees? Maybe if you're in your late 20's, early 30's and have time to reap the rewards of your investment, but for people who are gearing for retirement? Absolutely not, and that's what the OP was talking about.

Even so, people have been talking since the '90's about revitalizing Asbury Park and it's been one thing or another, the latest being this mortgage crunch, that's been knocking it back. It's gotten to the point where you really can't blame anyone's skepticism over rebuilding that area. You'll probably have to look well into the 2010's and beyond for that area to see true light at the end of that tunnel.

[apvbguy]

Originally Posted by sallyg

My parents are seriously considering putting an offer on a condo in Asbury Park- on Deal Lake Drive. They would live there full time when they retire in a couple of years. They currently live in NY and aren't too familiar w NJ. I have heard a lot of sketchy things about Asbury Park, but realtor assured them it was "the place to buy" and up and coming. Any opinions/ advice. Is it dangerous? Would you feel safe walking around at night? Would it be a nice place for retirees w easy access to NYC???? Do you foresee Asbury Park becoming a highly desireable place to live or totally unrealistic? any recommendations would be great! THANKS!

don't buy into the realtor hype, yes asbury is changing but it is still a very nasty place full of drugs crime and low income people, take a spin on main st after dark, 5 minutes will give you a good idea of what to expect there

[apvbguy]

Originally Posted by emanon

As long as the so called real estate "experts" say no to Asbury Park it probably never will come back. But someday people will take a chance and will benefit from their forsight and the "experts" will be shocked. They will be telling anybody who will listen. "I could have bought there when prices were cheap".

E

if you like playing urban pioneer, then maybe asbury is worth a shot, a safe place for a retired couple? I don't think now or anytime in the next few years will that ever happen

[doncorleyone]

GHETTO HEAVEN!!!!!! lolol you can to 1000% better with your money

[girl-973-908-732]

gotta admit i used to lvoe asbury park. what is the HE!! happened to it. it's disgusting. I feel so bad because I have so many good memories of what used to be.

Asbury Park still isn't cheap though. So as far as investing in it, I see potential. It's still the Jersey Shore. Would I live in the community and walk down the street . . . heck no.

[asbury girl]

I have lived in Asbury Park close to 25 years with my husband and two children who are now 21 and 26. I have sold Real Estate here for the last 12 years. All towns have their ups and downs, however in the past 14 or so years, I am happy to say that I have found things are changing for the better. We have some of the finest places to eat, shop, and have you seen our Ocean and Beach. Not to mention the best old fashion candy store that just opened on the boardwalk.