Phyllis and Troy Real Estate Team Sells $35M in Atlantic City-area Houses

Absecon Island and its adjoining wonderful beach towns are still a hot market, based on the sales records of the Phyllis and Troy team of real estate professionals.
Margate real estate
(Newswire.net — August 29, 2016) Margate, NEW JERSEY — Margate, New Jersey – Absecon Island and its adjoining wonderful beach towns are still a hot market, based on the sales records of the Phyllis and Troy team of real estate professionals. This well-known residential real estate team works out of the Sotheby’s International Realty office in Margate City – and they’ve got people talking. Despite the gloomy economic conditions and bankruptcy troubles of Atlantic City, Phyllis and Troy are absolutely killing it in Luxury New Construction Home Sales.They have blown through scores of New Construction units this summer, totaling over $35 million dollars in sales just this year.

The husband-and-wife real estate team has defeated all odds, practically selling out of all New Construction completed units. According to RealtyTrac.com, Atlantic County home sales were down 46% in June compared with the previous month. Even so, new homes have been selling at rapid fire pace for the Phyllis and Troy team. There is an overabundance of homes on the market and most real estate professionals are frantically searching for buyers. Even though Atlantic City was named one of the best bargain beach towns, the vast majority of area realtors have not had an overly positive experience. The widespread closings of Atlantic City’s casinos and businesses have contributed to the community’s struggle.

Phyllis and Troy’s Selling Streak

To the amazement of their competitors, Phyllis and Troy are outperforming the industry of real estate. Just a stone’s throw from Atlantic City, the prestigious towns of Margate, Longport, and Ventnor have proven to be their sweet spot this summer. It’s still a buyer’s market in Margate City, according to Zillow’s cool market temperature rating of the beautiful beach town. Phyllis and Troy have a handful of semi-completed New Construction units left, which certainly appeals to a buyer who wants more control over the amenities implemented in the home. Amazingly, they are practically sold out of their Luxury New Construction inventory- with only one left.

New Construction Sales Throughout the Country

Nationwide, the real estate market is doing better this year than was expected. This pleasant surprise is mostly due to extremely low interest rates, and robust job growth. New Construction Sales in June 2016 were 25% higher than the estimated number, a figure which was set last summer. Throughout the country, new homes sales were climbing in June, with total sales 3% higher than those in May. New Construction is the trend in real estate across the board. Real estate professionals who specialize in new residential properties will likely see an increase in sales.

About Phyllis and Troy Real Estate Team

The Phyllis and Troy Real Estate Team are the number one agent team in the luxury new construction sector. Phyllis and Troy have over 30 years of experience in the real estate business of buying, building, marketing and selling luxury new construction real estate.

Phyllis and Troy Real Estate Team

8502 Ventnor Avenue
Margate, NEW JERSEY 08402
United States
609.487.8000
phyllisandtroy@comcast.net
http://phyllisandtroy.com

Atlantic County NJ’s Tough Housing Market

Ocean City residents optimistic about completed project at Snug Harbor

Ocean City residents are rightfully optimistic about the recently completed project at Snug Harbor, according to Shore News Today. The private boat slip was one of the most in need of dredging lagoons the area had seen in recent years, but it is now looking the way it did about 40 years ago. The completion of this project has since brought the wonderful boaters lifestyle to the area, according to residents of the neighborhood. According to residents kids are now playing in the water of the lagoon and is quickly becoming a highly sought after boaters paradise.

 

Snug Harbor was one of about 40 private boat slips that has been restored by Longport contractor, Trident Marine Piling Co.

 

This is very exciting news for the area and we hope more good news follows.