Saturday, December 12, 2009
Commercial, retail and high-end residential real estate in Monmouth County does not seem to be hit as hard as other areas of the country, especially like California. Is it because real estate in New Jersey never had the overinflated jump that other areas did? Is there a high demand for oceanfront luxury condos, waterfront homes, etc. in the New Jersey Real Estate market? California does have more than its fair share of luxury real estate...Santa Barbara, San Diego, San Francisco Bay Area, just to name a few and the demand is still there just not as much.
I do see the professional & medical class A office space, retail, shopping centers hanging in there but they sure are not building any new buildings here in California.
Until recently, when developers started putting up cookie cutter two story houses so close you could feel your next door neighbors breath on your shoulder, Californians always had homes on fairly big lots with plenty of room to roam. Times they are a changin'.