Atlantic City has a long history as a resort town. In fact, the famous Atlantic City Boardwalk began as an effort by hotel owners to keep sand out of their lobbies. At one time it stretched for miles along the shore of Abecon Island, but was destroyed by a hurricane in 1944. Rebuilt of reinforced concrete and steel, the Boardwalk now extends 5¼ miles in Atlantic and Ventnor Cities.
The modern Atlantic City is a hot spot for night life, conventions and gaming. It’s the second-most popular casino destination in the United States, after Las Vegas. Atlantic City does have family-friendly activities, too, such as the Steel Pier Amusement Park and the Ocean Life Center.
Like many other Eastern cities, Atlantic City suffered a period of decline in the last half of the twentieth century. The gaming industry has revitalized the area and the economy, though. The unemployment rate and cost of living are about average for an American city, and the job market is growing.
Although it is primarily an adult community—less than a third of households have children in them and over a third are composed of a single adult—it invests heavily in schools and social services.
As the economy has improved, Atlantic City home values have also increased significantly. Between 2005 and 2006, Atlantic City homes increased in value more than anywhere else in the United States, with a rise of over 25%. Home values continue to increase, but at a more moderate pace. What that means for you, as a homeowner, is that your home equity has increased significantly in the past few years. If you are considering buying a home in Atlantic City, you can still find affordable housing, with a good mix of condominiums, townhouses and single-family homes in working class and upper class neighborhoods.
When you look for a home equity loan, refinance loan or home mortgage, it’s important to deal with a lender who is honest, reliable and who works with you to get a low interest rate and minimize other fees. Here are six lender behaviors that should concern you:
We can help you find the home equity loan, mortgage or refinance loan you need for your Atlantic City home. Complete the form at the bottom of this page, and one of our trustworthy agents will contact you to discuss your funding needs.
