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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (125170)	5/24/2008 1:34:06 PM
From: Smiling Bob	Respond to of 306849

I'm also banking with DUG calls on a flood of post holiday stories like this. Costs of travel have gotten prohibitively expensive in every which way. ---- Economy Keeps Jersey Shore Travelers At Bay Reporting Christine Sloan BELMAR, N.J. (CBS) ? It was already a picture-perfect day across the state on Friday afternoon, but despite the sunshine, only a handful of people were scattered along the beaches on the Jersey Shore. Of course, things will most certainly change come Saturday, but it's not the typical start to the Memorial Day weekend. "I think the price of gas is probably going to keep people from coming down," said Avon by the Sea resident Anne Hauck Even though the holiday weekend is not officially here, locals say they saw a lot more visitos last year at the same time. "People are still traveling down here, but definitely slower than in years past," said Belmar resident Megan Margulis. But some say coming down to the shore is probably a better deal than jumping on a plane and going abroad where the dollar isn't doing so well. "This is my vacation, coming down here," said Hauck. "I won't be going anywhere else this year." Times are so tough that Belmar seems to be strictly enforcing its parking restrictions and rules prohibiting bikes on the boardwalk. "For every little thing -- we make a peep at night, a sound -- they'll give a ticket for $365," said Belmar resident Ted Dudo. So if you're coming down to Belmar, residents suggest feeding the meter. One woman learned the hard way that even a minute over can land you in trouble. "I was only a minute over," said Belmar visitor Dawn Cappetto. "I was literally getting in my car and he said, 'You're too late.'" CBS 2 asked one officer if traffic violations were being enforced even more this year, but he refused to comment. Shore towns and businesses usually get a good indication from Memorial Day how they'll fare the rest of the season. The beautiful weather has many thinking it may well be a good one. But with so many rentals still available on the shore, that may not be the case. Many beach-goers say it wasn't much of a problem finding a great deal on a house at the shore. "It was $11,500 this summer, which was reasonable – a house 12 blocks from the beach," said Belmar renter John Candiano. And they say there were a lot of homes to choose from. "Rentals have been down year after year, but there are a lot of vacancies this year," said realtor Steven Weckstein. And realtors say some owners are willing to take much less this season for their rentals. "I'd say around 10 to 20 percent because they'd rather have someone in the house than leave it vacant," said Weckstein. One landlord told CBS 2 he's getting 25 percent less for his rental. He owns 65 properties. "Lake Como and Belmar areas are extremely soft," he said. So landlords and realtors say it's a good time to negotiate and get what you want. (© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)