{"id":28644,"date":"2015-07-16T07:55:49","date_gmt":"2015-07-16T11:55:49","guid":{"rendered":"https:\/\/brigantinenow.com\/?p=28644"},"modified":"2018-10-26T06:49:17","modified_gmt":"2018-10-26T10:49:17","slug":"brigantine-real-estate-declines-other-nj-shore-towns-bounce-back","status":"publish","type":"post","link":"https:\/\/brigantinenow.com\/brigantine-real-estate-declines-other-nj-shore-towns-bounce-back\/","title":{"rendered":"While Brigantine Real Estate Declined, Other NJ Shore Towns Bounced Back"},"content":{"rendered":"

A Brigantine shore house priced at $309,975 in 2013 was only worth $282,475 in 2014. That\u2019s a nasty drop of 9% according to a recent report in Philly Magazine.<\/p>\n

Put that same house in Ventnor, Sea Isle City or Cape May, and the sales price would be up by at least 5%…..and potentially as high as 11%.\u00a0So what gives?<\/p>\n

\"Brigantine
Brigantine Real Estate Decline<\/figcaption><\/figure>\n

Can it be the lingering effects of Hurricane Sandy and the casino contraction of Atlantic City? That\u2019s what Brigantine\u2019s Mayor Guenther would like you to believe. Most Brigantine Realtors quietly disagree and will tell you an entirely different story.<\/p>\n

\u2018Many South Jersey towns were hit just as hard, and some even harder than Brigantine\u2019 said a veteran Realtor on Brigantine Island that wished to remain anonymous. \u2018Those shore communities have already seen their Real Estate values get back to normal, why can\u2019t Brigantine rebound too?\u2019<\/p>\n

PhillyMag: There\u2019s a lot of new construction in Avalon, Stone Harbor, Sea Isle City , Ocean City, Margate. Bounce-back is strong. Average price per square foot of home sales in Avalon is $668, up more than 19%. The only towns that saw price decrease were Atlantic City and Brigantine.<\/strong><\/p>\n

Read more at Philly Magazine<\/a><\/p><\/blockquote>\n

Why are Atlantic City & Brigantine in the same boat?<\/strong>\u00a0Some say extremely poor city management over the years, short-shortsightedness, stealth spending and an over-sized employee head count far too large for such a small town. Others sum it up by saying the deep seated and ultimately harmful culture of Nucky Johnson & Hap Farley still exists in Atlantic City and Brigantine.<\/p>\n

Some point the finger at recent Brigantine retail & Real Estate busting moves by Guenther, Simpson, and most of City Council.<\/h3>\n

Ron Jaworski Golf wanted to turnaround the money-losing Links at Brigantine Golf Course. Headed by the former Eagles quarterback and current ESPN analyst, Ron Jaworski Golf was seen as a godsend by local residents desperate for a boost to their home values. While not a perfect deal, most on the island saw far more benefit in placing the Brigantine municipal golf course into the hands of someone with marketing prowess and well-known skills in turning around struggling golf courses.<\/p>\n

READ Brigantine Golf Course Back-Room Deal<\/a><\/strong><\/p>\n

After running JAWS out of town, some accusing him of not being trustworthy (SEE VIDEO BELOW),<\/strong> Mayor Guenther and Councilman Andy Simpson quickly made some moves. They allowed a Florida based LLC called Meadowbrook, run by Ron Jackson, to sub-contract out the cash-flow positive food and beverage concession.<\/p>\n

This valuable city asset was virtually gifted to a hand chosen public city worker; Mike Morgan, owner of Mad Dog Morgans. Local business operators complained that public bids did not go out and they were effectively shut out of the bidding to run the golf course concession.<\/p>\n