Think warm thoughts – shore rentals already up 33% YOY.

From the Philly Inquirer:

The rush is already on for rentals at the Jersey Shore

From the second-story deck of his aunt’s rental property near 20th and Central, real estate agent Bill Godfrey points out the ocean view a block away and the surrounding Gold Coast neighborhood as just two of the unit’s special amenities.

But what potential summer renters really want to know about the place is how the flatware looks and what kind of wine glasses are in the cupboard, Godfrey said.

“Oh, and how new the mattresses are,” Godfrey notes as among the nitty-gritty details that customers want to know before they are willing to plunk down as much as $4,000 for a week’s stay in this unit during the summer’s “high season.”

And getting precisely what they want when they walk through the door may be what is driving those renters to sign on the dotted line seemingly earlier and earlier each year. Rentals in Ocean City’s prime “high season” — from mid-July to mid-August — start at around $1,500 a week for a one-bedroom condo and go as high as $18,000 a week for a seven-bedroom house on the beach.

Marr Agency, where Godfrey works, and other real estate agencies in this Cape May County barrier island resort — and in towns from Long Beach Island south to Cape May — report that the number of signed contracts and deposits on summer rentals by the beginning of February were up by as much as 33 percent over the same time last year.

And while the bottom line on rental profits may ultimately stay mostly stagnant year to year because there are only so many units and so many weeks in the summer, an early rush on rentals may signal a strong 2017 Shore summer season with regard to tourism spending in other sectors, like restaurants, amusements, retail, and activities, according to experts.

Tourism is big business in New Jersey. The state’s second-largest industry attracted 95 million people to the Garden State, raked in a whopping $43.4 billion, and accounted for 318,000 jobs in 2015. And those numbers have been on a steady increase over the last decade.

This entry was posted in Economics, New Jersey Real Estate, Shore Real Estate. Bookmark the permalink.

54 Responses to Think warm thoughts – shore rentals already up 33% YOY.

  1. Blue Ribbon Teacher says:

    I remember prior to the crash about 2006 or 2007 (holy crap, it’s such a blurr at this point), I was thinking about renting a shore place for a week. I was informed that most people were buying the home for the summer and planning on selling in September by a number of locals.

  2. hobojoe says:

    Rent now or be priced out forever.

  3. Grab them by the puzzy says:

    what you european? true americams need no shore vacations. no healthcare, no minimum wage, no pension plan, no union, no benefits and you talk to me about shore vacations

  4. Grab them by the puzzy says:

    2/12/17, 8:23 am

    @realDonaldTrump

    I know Mark Cuban well. He backed me big-time but I wasn’t interested in taking all of his calls.He’s not smart enough to run for president!

  5. Raymond Reddington says:

    Grab, good thing Americans don’t need these things cause they are not going to get them.
    And by the way we do have socialized medicine here already for the protected class, it is called Medicare

  6. Blue Ribbon Teacher says:

    I wouldn’t be interested in taking Cuban’s calls either. I still remember when he wanted to finance the distribution of a 9/11 conspiracy theory video.

  7. Steamturd thinking about the remains of Hillary's umbilical stump says:

    Cuban might be the only person in America more pompous than The Donald.

  8. The Great Pumpkin says:

    People have to take the rose colored glasses off and realize what this world is. The world is a mean place, defend your territory or have it taken over. Only morons would invite these refugees into their country.

    http://www.angrypatriotmovement.com/60-minutes-on-muslim-refugees/

  9. The Great Pumpkin says:

    Makes me sick to see parts of Sweden taken over. Anyone that wants to let these people in should watch this video to see what happens.

  10. Anon E. Moose, proud owner of Silk City Bourbon ver 2.36/114 says:

    Gourd [19:32];

    “Migrants” — that’s good for a laugh. Like they’re ever going to leave.

  11. nwnj3 says:

    re: furnace

    Had a 100k BTU 80% efficiency and 3ton A/C replaced this spring for 5800. Guy did it in about 10 hours over two days with one other guy.

    Ended up going with Trane. I trusted the guy doing the install and was happy to hear that they were still doing the final assembly in TX. Reviews were good enough.

    Took a look at Lennox since that’s what was being replaced and the orig lasted 30 years. Prices for Lennox were too high, too few dealers with a lot of middlemen, and they make their low end lines in Mexi. No thanks.

    Also no thanks to all of the fancy thermostats and super high efficiency furnaces. More stuff to break and life is too short to deal with that crap. The HE furnaces don’t last nearly as long because they work a lot harder and the retrofit to put those things is a pain even when offset with incentives.

  12. Comrade Nom Deplume, The GOAT says:

    Shore rentals up? Another Trump Bump?

    Am I the fool for thinking all this optimism is misplaced?

  13. 3b says:

    Nw thanks. So you are saying go with the 80 percent efficiency rather than the 90 plus?

  14. Comrade Nom Deplume, The GOAT says:

    Steamturd

    Can you imagine if Cuban ran on, and won, the dem primary in 2020?

    The election would be a caricature of itself. We would probably have Gary Johnson as president. By then, he will be able to find Aleppo on a map.

  15. 3b says:

    Nw do you recall how much just the furnace was? I have to move quickly! It died again yesterday! No heat last night!!

  16. Comrade Nom Deplume, The GOAT says:

    Redux

    The article focuses on right to work but we know that’s a sideshow. Illinois is in dire straits. They won’t get help raiding the federal treasury under this Congress.

    Ironically, I see Trump as a wild card here and it could set up a battle within the GOP.

  17. Fast Eddie says:

    DOW opens up another 100 points.

    Thank you, President Trump!

  18. Alex says:

    I’m thinking about opening a chain of mini coffee shops right outside the doors of Starbux, and charging half of what Starbux sells their coffee for. Each mini shop would be entirely staffed by illegal immigrants.

    I wonder if Starbux would object.

  19. Grim says:

    Screw the cold – down in Brazil.

    Figure if it is what America will become – should spend some time to better understand it.

  20. 3b says:

    5800.00 all in which includes electrician running new line as right now it’s connected by thermostat wire to electric and not up to code.

  21. Comrade Nom Deplume, The GOAT says:

    The Trump Bump continues. I am not getting this.

    In other news, Trump meets yet another close ally leader. Aside from his deplorable style, the substance has been quite good. If Clinton had done everything Trump had done in terms of substantive work, the Dems would be surveying Mt. Rushmore for a fifth bust.

  22. Comrade Nom Deplume, The GOAT says:

    Leftist MSM (redundant, I know) is making a big deal if this but it isn’t new.

    http://nep.247sports.com/Bolt/Robert-Kraft-addresses-players-not-going-to-the-White-House-51266105

    As I’ve said before, it’s really a bore for the players to do this. Those that skip often have been there before and know how tedious it is.

  23. NJCoast says:

    Grim- find the girl from Ipanema?

  24. STEAMturd, thinking Trump is less of a mysoginist than Bill was. says:

    nwnj3 Trane is the sh1znit! Good call. Agree with you on the lower efficiency and less features tip. Everything I buy I look for less buttons and knobs are just fine. Look at it this way, I know a lot of people who are trying to give away 30 or 40 year old basement refrigerators. Yet, everyday I see posts on Facebook for repairmen for their LGs, Samsungs and of course, Sub-Zero. The best is Bosch dishwashers which were all the rage for their stainless tanks about a decade ago. Everyone I know who bought one has disposed of them. Really, who cares what the inside of your dishwasher looks like anyway. My grandmothers dishwasher lasted 55 years with a plastic tub. This thing was awesome. To close the door, there was a handle that you twisted which was as large as the entire washer door. I reminded me of the handles you sometimes see on bulkheads of ships. My grandmother passed a few years back. I’m sure the buyers of her home in Lynbrook immediately ripped it out and put in a Bosch.

  25. D-FENS says:

    We have a Trane XR80. It’s now 11 years old. (Knock on wood)…It’s been very reliable and low maintenance.

  26. The Original NJ ExPat says:

    Not misplaced. Listen to Ken Fisher’s predictions for this year. Click the MP3 link near the top (also available on iTunes)

    http://www.financialsense.com/art-hill-technicals-ken-fisher-2017-market-outlook

    Shore rentals up? Another Trump Bump?

    Am I the fool for thinking all this optimism is misplaced?

  27. 3b says:

    My guy recommended a peerless which is what is there now. I am gong with that. Another night of no heat!

  28. 30 year realtor says:

    3b – You have hot water baseboard? That is what I am assuming. The people giving you advise all have forced air.

  29. D-FENS says:

    He said Furnace…

  30. 3b says:

    30 year. Yes radiators. Separate hot water heater.

  31. The Original NJ ExPat says:

    Is there a difference between a furnace and a boiler? BTW, I saw an interesting “This old house” type program several years ago that showed you how to put a baseboard hot water zone off the same boiler in an old Steam Heat house. I think the applications was closing in a 3 season porch for year round use. The bottom line was don’t dare try to add on to the Steam ciricuit but you can plump a hot water baseboard zone right of the steam boiler.

  32. D-FENS says:

    I always understood furnace to be forced air…boiler was for baseboard or radiators.

  33. The Original NJ ExPat says:

    Duh! I just thought about it, of course a boiler is different than a furnace. Only the boiler is (intentionally) creating steam. The other systems are either blowing heated air or circulating heated water.

  34. Raymond Reddington says:

    Steam, dishwasher was probably a Kitchen Aid. Older models made by Hobart. Hobart makes the industrial washers. Older Kitchen Aid washers are great but not energy efficient…

  35. The Original NJ ExPat says:

    boiler -Steam
    furnace – hot air *or* hot water

    right?

  36. The Original NJ ExPat says:

    Here’s a little know fact: If you come across a building with steam radiators that are painted silver you can significantly up the thermal efficiency by painting them white.

  37. 3b says:

    Nj ex hot water.did not know that on silver vs white.

  38. The Great Pumpkin says:

    Is this what we want for America? Be careful who you let in your house. This isn’t a brady bunch episode where everything always turns out alright.

    https://www.bloomberg.com/politics/articles/2017-02-13/le-pen-calls-protesters-scum-after-paris-cop-charged-with-rape

  39. STEAMturd, thinking Trump is less of a mysoginist than Bill was. says:

    I thought best thing you could do was sandblast off the paint. As for boilers, I have experience with Utica, Mclean and Crown. A 30 year old boiler isn’t unusual if you flush it every two weeks during the winter months. The key is to get the sediment out. Forget those chemical cleaners. Completely unnecessary. Just flush it regularly.

  40. The Original NJ ExPat says:

    So long as it’s white underneath;-) You can read about it online, or if you have a Russian close by, ask him. My Dad was the one who told me, and he has nothing better to do than research stuff. IIRC, I think he said that white paint on a steam radiator is 15% more efficient than…eggshell white? I don’t know.

    I thought best thing you could do was sandblast off the paint.

  41. The Original NJ ExPat says:

    Hi-yah! I’m not doubting this, but do people actually do this? Commercial applications? BTW, Stu helped me get a 30 year old snowblower throwing snow like a boss this weekend, so I wouldn’t doubt him.

    A 30 year old boiler isn’t unusual if you flush it every two weeks during the winter months.

  42. 3b says:

    Steam we flushed it every two weeks and had it serviced every enter. I think 34 years is impressive. My guy said for 200 bucks more the peerless is better so went with that.

  43. The Original NJ ExPat says:

    BTW, Everyone is “all in” the stock market, right? Dow 50,000 is just around the corner. Your wages aren’t going up, your Passaic County house is a disaster, time to go all in on Nate’s pancakes in a can, right?

  44. The Original NJ ExPat says:

    Heh-heh. Makes me think of the youtube videos on Briggs & Stratton engines: “now this won’t work on a pre-1964 engine…”

    Steam we flushed it every two weeks and had it serviced every enter. I think 34 years is impressive. My guy said for 200 bucks more the peerless is better so went with that.

  45. D-FENS says:

    More mainstream media mess-ups: The Muslim Olympian ‘detained because of President Trump’s travel ban’ was detained under Obama

    http://www.washingtonexaminer.com/more-mainstream-media-mess-ups-the-muslim-olympian-detained-because-of-president-trumps-travel-ban-was-detained-under-obama/article/2614645

  46. Juice Box says:

    D-FENS – if you showed up at any airport on with a sabre sword you might get another look-see from Customs too.

  47. STEAMturd, thinking Trump is less of a mysoginist than Bill was. says:

    Here are the results of an incredibly thorough radiator painting theory. Though white non-metallic paint works the best. The increase in efficiency (or convection really) is too small to really matter. Ideally, painting the side of the radiator facing the wall with metallic paint also provides a gain, but ultimately, it’s really so minor. Especially considering how inefficient steam heat and hot water systems are overall. Much better savings would come from recaulking your windows and weather sealing your doors.

    https://heatinghelp.com/assets/Uploads/Radiator-color.pdf

  48. The Original NJ ExPat says:

    Ha-ha! When my wife was pregnant with our first I realized that our Chinese landlords in our 4 unit apartment were screwing us on heat. We had lived there for 3 years and they turned the heat off about the first 60 degree day in April and turned it back on in October after enough complaints. After finding out that the law required them to provide heat from 9/15 to 6/15 I called them on it when they turned the heat off in April. I made them come out and turn the heat back on that night with some serious legal threats over the phone. The MO of our landlords were that they only rented to two classes of tenants. Unmarried singles, and pairs of women. No married couples, no two guy roommates. We fit the first bill but we married while living there and my wife became pregnant also while living there. Combined with our assertion of our rights over the heat they wanted us out fast, our lease coming up soon. I offered them every sort of deal, including buying the building from them, pre-paying a 6 month lease, but no, they wanted us out. In the end they paid us 3 months rent and we left. Coincidentally, because I had alerted the other tenants of their rights, including heat, the landlords took out the single furnace and installed 4 individual furnaces so that they could get tenants to pay for their own heat. About 2 years later we drove by the place and were astounded to see every window had been replaced. That didn’t seem like the Wongs at all. Then I figured it out. They went as cheap as they could with the 4 furnaces and WRONG-sized them. The apartments were unduly cold and the Wongs had to update all the windows to compensate. LOL>

    Much better savings would come from recaulking your windows and weather sealing your doors.

  49. Tywin says:

    Sheesh, almost 10 “news” outlets published that Fake News, including Time Magazine, The Hill, New York Daily News, and others. The MO is always the same: print lies on Page 1, print “corrections” on the back page, days later, if at all.

    More mainstream media mess-ups: The Muslim Olympian ‘detained because of President Trump’s travel ban’ was detained under Obama

    http://www.washingtonexaminer.com/more-mainstream-media-mess-ups-the-muslim-olympian-detained-because-of-president-trumps-travel-ban-was-detained-under-obama/article/2614645

  50. The Great Pumpkin says:

    Enjoyed reading this in high school. Pretty amazing how he predicted all this.

    “1984,
    1. Spycraft in every home, capable of monitoring everything you do and say at every moment.
    2. Endless war against enemies that cannot be nailed down.
    3. Resistance movements corrupted almost as soon as they begin.
    4. Economy in tatters, yet government “rose colors” the data to make it seem like all is well.
    5. Only high party members get perks of society. Mid-level and low level are unhappy to be there and wish for a better life, but know it’s the best they can do.
    6. The proletariat enjoy sports, gambling and distractions while being so confused and uneducated they can’t pose a threat, so they go along with the charade with irrelevant protests every once in a while to make themselves feel relevant.
    7. Big Brother always spying on you, recording everything you do.”

  51. D-FENS says:

    ‪California spent on high-speed rail and illegal immigrants, but not ignored Oroville Dam http://www.washingtontimes.com/news/2017/feb/13/oroville-dam-flood-danger-recedes-state-criticized/

  52. D-FENS says:

    Meanwhile, back in Jersey…Democrats in the state legislature tell us they desperately need more money for our roads…then gladly pledge 15 billion of state money to replace lost federal money for sanctuary cities.

  53. The Original NJ ExPat says:

    Most of us were self-sufficient adults well before you were in high school. Just one more reason you are considered the retard kid trying to climb on your parent’s lap at the adult table.

    The Great Pumpkin says:
    February 13, 2017 at 9:49 pm
    Enjoyed reading this in high school. Pretty amazing how he predicted all this.

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