Don’t think you can go driving around the Jersey Shore to find your ideal foreclosed-upon home. Those in the market will have to check the listings for such discounted properties, because homeowners and real estate agents in Cape May County are working to keep the (literal) signs of hard economic times out of their wealthy resorts.
Foreclosures — and the signs that come with them — are bad for the neighborhood, agents and fellow property owners in places like Cape May, Avalon and Stone Harbor say they don’t want to see a foreclosure sign on a neighbor’s home.
But over in Atlantic County, as the Press of Atlantic City reports, some agents think the signs draw first-time buyers who otherwise couldn’t afford a Shore property, meaning more prospective buyers and more business for agencies.
Feed the Feed: Do foreclosure signs devalue neighborhoods?