A historic OG home. If you owned it would you be concerned now about its value? Paul Goldfinger photo 2016 ©
I’m no expert in real estate, but I am a home owner in this town and I’ve been wondering about home values should the town begin to change in a wrongheaded direction. In my opinion, anything which compromises the unique vision of the Master Plan could cause real estate investors to look askance at the Grove .
One long term resident whom we spoke to said that some real estate investors in town are thinking about selling now because they don’t like the changes that they are seeing.
Historian Ted Bell said that Ocean Grove is known around the world for its very special characteristics. Anything that weakens that fabric will contribute to a gradual decline in the Grove’s reputation. We at Blogfinger have identified quite a few variables that have a growing number of Grovers worried. If the Sprout is approved, then will we see more worrisome approvals granted by Neptune?
We interviewed a man who owns a business in the Grove. For now he will be anonymous, but he probably would be more forthright if needed. He told Blogfinger that he has great affection for the town and that allowing a drug rehab facility to open here would be a mistake. He is so upset by the prospect that he is seriously considering moving his business elsewhere and he will reconsider his plans to move here as his permanent home.
Another reader, “Retired,” commented today, “Ask any realtor, a substance abuse center will have a significant negative impact on the value of the surrounding properties.”
Zillow says, “The median home value in 07756 is $433,300. 07756 home values have gone up 3.7% over the past year, and Zillow predicts they will rise 2.4% within the next year.”
So, getting specific, do you think that the Laingdon project will affect home values either in the immediate vicinity of the project or even on average around town?
A.R. RAHMAN “You Complete Me.” From the movie The Hundred Foot Journey
The point is moot for now, since Sprout removed their application. However going to the worse case scenario such as Sue did (I’m going to put my house on the market if a rehab opens in town… already interviewing real estate agents) isn’t the best way to handle this. Bradley Beach had a rehab open on Ocean Avenue last year. The town has survived just fine, and Bradley Beach home values did not plummet. Hate to break it to Sue or anyone else, but there are already plenty of criminals and active addicts/alcoholics that reside in Ocean Grove. Overall they are much more of a threat (criminal activity; & noise & damage to property while drunk or high) than the ones that choose to fight their addiction by going to a rehab.
I purchased my house in OG in 1982 as my summer retreat from NYC. I love my house and have kept up with repairs and beautification all these years. I have since retired and was looking forward to moving there year round.
If this project is approved I will be forced to sell. I have seen this town at its best and at its worst ( Marlboro/release of mentally handicapped, ) and it’s heading for latter. Pray that this does not happen as property values will decline rapidly.
I have no idea what the powers that be are thinking. Already interviewed 2 realtors, tomorrow the 3rd … then we will select the one to sell our home through …