Seaside Real Estate Market Plans To Rebuild [AUDIO]
Exactly two weeks ago today, the landscape of the Jersey Shore changed forever. In Seaside Heights, the once-flourishing real estate market is virtually a pile of debris.
However, the people who have a stake in the industry are vowing to come back and make it bigger and better than ever.
Sifting through the wreckage and cleaning things up won't be an overnight process.
At one time, a summer rental could run a couple of thousand dollars for the season. Purchasing a home near the beach? For many of us, it would just be an unattainable dream. Will people want to come back and rebuild? What about the infrastructure and the fear of something like Sandy happening again?
Mike Loundy runs Seaside Realty, a popular company on the barrier island that owns and operates several rental and sale properties.
He says, "While it may take a while for everything to get done, neither Sandy or anything else will bring us down. The people will return. Seaside will return. This is just a temporary."
Loundy, who owns several of his own properties in Seaside and in Point Pleasant Beach, tells Townsquare Media many of his homes are now unrecognizable. They suffered severe damage - some are a total loss.
Loudy adds, "We will get through this. It is too early to say when. I know by next Summer, it won't be back to normal - but a new normal will eventually set in. It will just take a little while to readjust."