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Post by 1goldennuggetrider on Aug 30, 2006 22:24:19 GMT -5
I came back yesterday evening after an eight day stay in Wildwood Crest at the Fleur De Lis. I had a very nice time, as I always do. Some more thoughts and observations ...
1) The Condos - I noticed that the vast majority of condos I saw were either for sale, rent, or seem to be struggling to find owners. Tsk. Tsk. Tsk.
You "guys" oversaturated a market that really does not exist (or certainly does not at this time). Newsflash ... the Wildwoods has always been a vacation resort area for the working class. This isn't the Hamptons or LBI.
Better news. You picked a really bad time to over invest, because you might be sitting on these properties for YEARS. The economy is changing, the housing market will see significant declines heading into 2007 ... the boom is over ... and you will get caught with your pants down. The recession will not end until some time in 2009.
2) The Boardwalk.
Again. I am sorry, but the Moreys need competition. Is there anyone hear that feels the same way (or has memories of Morey's pier) equivalent to Hunt's? I doubt it.
There has been minimal real investment on the boards. Wake up. Today's business world is not as forgiving. You have to spend in order to make money. You have to continue to recreate yourself. You have to offer value. Personally, I don't see it there.
If the Hunt's were operating today ... the pier would be clobbering Moreys. I don't care if they had the "modern" rides or not. The service was outstanding. The professionalism. The pier made sense.
Someone ... please step up to the plate here.
3) Good things ... the bike path is great ... it should be extended. The movies on the beach are an excellent idea. A lot of people are enjoying this. People that own properties on the boardwalk .... ala Fascination, the cooking store, the doo wop diner ... does anyone notice the difference in the quality here? Ownership is huge in the business world ... others should take notice.
The Wildwoods and the Crest could see great days in the future. Leadership is needed. "Ownership" is essential. Progressive thinking. The place is an absolute gem.
Truth is, the hotels, the condos, the boardwalks .... it could all thrive headed into the next twenty-five years. Or it could fall apart quickly ... it probably will be one or the other ...
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Post by JerseyDigger29 on Aug 30, 2006 23:04:19 GMT -5
I came back yesterday evening after an eight day stay in Wildwood Crest at the Fleur De Lis. I had a very nice time, as I always do. Some more thoughts and observations ... 1) The Condos - I noticed that the vast majority of condos I saw were either for sale, rent, or seem to be struggling to find owners. Tsk. Tsk. Tsk. You "guys" oversaturated a market that really does not exist (or certainly does not at this time). Newsflash ... the Wildwoods has always been a vacation resort area for the working class. This isn't the Hamptons or LBI. Sorry, but I get a little touchy when anyone says "you guys" are doing this or that to our beloved Wildwoods... And it's not just you saying it, it happens a lot and it always ticks me off!  Just WHO are "you guys?" Like someone down here - someone that maybe you should name - got together and said, "Gee, why don't we build all these big and expensive condos and absolutely destroy our resort." 1) "We" didn't oversaturate a market that doesn't exist. If the market wasn't there, this wouldn't be happening in every other resort up and down the entire coast. This is NOT a Wildwoods trend, it is hapenning everywhere, so get off our backs, please. 2) If you would take a little time to drive around the entire town and not just up and down Ocean Avenue, you would see that many - if not almost all - of the new condos on the side streets, as you get west of maybe Atlantic Avenue are rented, possibly because the're not as expensive, but I think there's more to it than cost. A lot of the more expensive condos on the east side of town are empty because many investers are waiting to see what happens with this JCOW mess. No one, and I mean no one, wants to but something close to a million dollars now until he's sure the courts aren't going to shut him down. Once this situation eases, and people start to feel more confident about buying, they will. Another reason there are so many unrented condos primarilly on the east side could be because they built so many of them all at once. Maybe it will take a little while for the owners to catch up to the number of available units. Yes, Wildwood has always been a working class resort, but WE can not stop progress anymore than can Ocean City, MD or Myrtle Beach. Trends happen, progress cannot be stopped. you either adapt to it, and try to accept it the best you can, or you get left behind, I guess. By the way, not only are a lot of the side street condos west of Atlantic Avenue occupied, there are also quite a few of the most expensive ones - in the million plus range - down toward the end of the Crest and Diamond Beach that are also occupied. Either they're owned, or being rented, or the people I see sitting on all those balconies are squatters or something. ;D There have been an enormous amount of new condos built so far - and even more are coming, I'm sorry to say. I just believe it will take a while to fill them all when there are so many of them to fill; it can't be done all at once. Good marketing, and public relations, are more effective when they're done gradually over a period of time, rather than all at once. It sometimes takes human beings a while to catch on to something. Thom  |
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Post by nance on Aug 31, 2006 2:44:32 GMT -5
And all this takes money, doesn't it? So many things are easier said than done.
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Post by JerseyDigger29 on Aug 31, 2006 9:05:08 GMT -5
And all this takes money, doesn't it? So many things are easier said than done. It never ceases to amaze me how many people out there seem to have so much money. I wish I was one of them, but I'm not. Thom |
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Post by Robert on Aug 31, 2006 10:18:39 GMT -5
So what, all these expensive condos come along and the hotels raise their rates, those of us who are looking for "bargains" on lodging because of our tight budgets have to either only stay a few days instead of a week or cut back on eating out? We'll pay an arm and a leg for a place to sleep and not have much money left for other things.
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Post by Al Alven on Aug 31, 2006 14:55:18 GMT -5
2) The Boardwalk. Again. I am sorry, but the Moreys need competition. Is there anyone hear that feels the same way (or has memories of Morey's pier) equivalent to Hunt's? I doubt it. There has been minimal real investment on the boards. Wake up. Today's business world is not as forgiving. You have to spend in order to make money. You have to continue to recreate yourself. You have to offer value. Personally, I don't see it there. If the Hunt's were operating today ... the pier would be clobbering Moreys. I don't care if they had the "modern" rides or not. The service was outstanding. The professionalism. The pier made sense. Someone ... please step up to the plate here. nuggetrider, I get where you're coming from; and, please, know that this is coming from a very passionate fan of the old Hunt's Pier and all it stood for. However, I believe you're selling the Moreys short here. The organization has "stepped up to the plate" time and time again for the Wildwoods. When the island went through its "down years" a while back and no one else was investing in the present or for the future of the Wildwoods, the Moreys were there. Over the past 20 years, they have expanded their holdings and really stretched the limit of what can be accomplished in the realm of the seaside amusement industry. Competition is always a good thing, but I don't think you can blame the Moreys for the fact that there isn't any today. And I don't believe that Hunt's Pier, if still in operation today, would be clobbering the Moreys, because the latter are outstanding businessmen who simply know how to run a successful entity. I'm not saying that Hunt's couldn't be successful today (although, like any business, it would have had to change and adjust to the times more than many care to admit), but the Moreys have established a great track record and have proven their loyalty to the Wildwoods' over and over again. The Moreys have invested millions of dollars into making their piers, waterparks and other holdings as top notch as they can be. I don't agree with every single move they've made, but I do believe that everything they do is done with the Wildwoods' best interests in mind. |
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Post by nance on Sept 1, 2006 3:01:37 GMT -5
Which leads me to the question; how do you find a reasonable priced, decent motel out there; especially if you're not all too familiar with the area? Not everyone, like me, can afford these high rates. And who needs all the fancy stuff anyway?
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Post by JerseyDigger29 on Sept 1, 2006 9:30:51 GMT -5
Which leads me to the question; how do you find a reasonable priced, decent motel out there; especially if you're not all too familiar with the area? Not everyone, like me, can afford these high rates. And who needs all the fancy stuff anyway? Nance, to find reasonable rates and specials and promotions, you can always check out the websites of the Greater Wildwoods Chamber of Commerce or the Hotel and Motel Association. Their member hotels update their vacancies and rates on a daily basis. Hope this helps - Thom |
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Post by nance on Sept 2, 2006 2:18:48 GMT -5
Thanks for the information, Thom.
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JIMD
Full Member
Posts: 221
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Post by JIMD on Sept 5, 2006 18:54:03 GMT -5
Which leads me to the question; how do you find a reasonable priced, decent motel out there; especially if you're not all too familiar with the area? Not everyone, like me, can afford these high rates. And who needs all the fancy stuff anyway? Fancy stuff in Wildwood hotel rooms ? Would that be a bed and a light, lol. Seriously, I stayed at the Singapore this summer and the room didn't even have a phone ! Of course in the age of cell phones I didn't even notice until the day we checked out, lol |
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Post by thelastresort on Sept 5, 2006 19:03:52 GMT -5
with cell phones, no need for a phone in the room, especially since they gig you 50 cents for every call.
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Post by MMM on Sept 5, 2006 20:57:41 GMT -5
Maybe so, but shame on any Motel owner not providing a phone, IMO. It's a basic necessity. Voicemail for each room is a nice touch as well.
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Post by bossman on Oct 9, 2006 12:41:03 GMT -5
My 2 Cents:
I agree, for the most part, with Nuggetrider.
Jerseydigger must have an investment in some of the condos.
I agree that progress is needed and those that wait will be left behind. I also don't begrudge anyone who sold out to the "gold diggers" while they could. Just as the developers and builders and architects have, (DBA) I too would take the money and run.
The truth of the matter is, however, that the market is over- saturated. That's the reason condos are empty. Sure, some will fill up, but not before the market finds the right price level. The DBA's have taken their money and left town. The JCOW mess doesn't interest them. They did their thing. Maybe people are waiting to buy condos until the matter is straightened out, but shouldn't someone be making an effort to inspect the current crop of condos so that they can be sold?
Wildwood used to be a friendly, family town. Hundreds of affordable motels and apartments available for 2 or 3 days or a week or more. Is that the case today? Sure there are motels still around, but not like it used to be. Rent a condo for a week at $1500 +. Sorry, no 3 or 4 day stays wanted!
At first, condos were replacing old rooming houses 2 or 3 blocks from the beach. This was good. Then condos got closer and closer to the water to where they are now in the beach block. Soon, some of the stores that need to be replaced right on the boardwalk will go to make room for condos. What next?
The beach in front of these condos will become private. Soon, no more boardwalk. The reason? $$$ Lease the beach to the condo. Collect taxes, etc. This leads right up the alley to the Moreys.
I have nothing against their organization, except to say I'm jealous. They are excellent business people and know how to make lots of money. I don't think any competition can knock them off of the block, unless it's someone like Trump. They do need competition, despite all they have done.
The way things are going in the Wildwoods, tourists, as we know them, will be a thing of the past in 4 or 5 years. Oh, there will still be lots of visitors, but they will be the same genre that goes to upscale resorts on package deals. 20's - 30's types and middle-aged couples. No families with kids, dogs, etc. They'll have a high disposable income, and exquisite taste. They'll be able to afford the Wildwoods. That's what's wanted.
But then again, if that were me, I wouldn't go to Wildwood. I'd go to the Bahamas, Florida, or someplace else where I fit in.
Wildwood was a seashore town made for families and fun. It's getting away from that fast.
(Just for fun,) "you guys," the town fathers and management and decision makers, have been blinded by $$ and the boom is coming to an end. Check the financial pages for the status of the housing market.
There should have been an activist organization like "Save Our Towns" formed 4 or 5 years ago. Maybe something could have been done, but I doubt it because big $$ talks.
So Goldennuggetrider, I agree with your assessment of the Wildwoods, almost.
Jerseydigger, not to be offensive, but you should wake up and see the light and stop trying to justify the ruination af what once was a wonderful place to visit and vacation, and what will be no more.
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Post by FlyinGN on Oct 9, 2006 19:04:39 GMT -5
what did you think of the Fleur de lis?? We really loved the looks of it and was thinking of staying there next summer.. I came back yesterday evening after an eight day stay in Wildwood Crest at the Fleur De Lis. I had a very nice time, as I always do. Some more thoughts and observations ... 1) The Condos - I noticed that the vast majority of condos I saw were either for sale, rent, or seem to be struggling to find owners. Tsk. Tsk. Tsk. You "guys" oversaturated a market that really does not exist (or certainly does not at this time). Newsflash ... the Wildwoods has always been a vacation resort area for the working class. This isn't the Hamptons or LBI. Better news. You picked a really bad time to over invest, because you might be sitting on these properties for YEARS. The economy is changing, the housing market will see significant declines heading into 2007 ... the boom is over ... and you will get caught with your pants down. The recession will not end until some time in 2009. 2) The Boardwalk. Again. I am sorry, but the Moreys need competition. Is there anyone hear that feels the same way (or has memories of Morey's pier) equivalent to Hunt's? I doubt it. There has been minimal real investment on the boards. Wake up. Today's business world is not as forgiving. You have to spend in order to make money. You have to continue to recreate yourself. You have to offer value. Personally, I don't see it there. If the Hunt's were operating today ... the pier would be clobbering Moreys. I don't care if they had the "modern" rides or not. The service was outstanding. The professionalism. The pier made sense. Someone ... please step up to the plate here. 3) Good things ... the bike path is great ... it should be extended. The movies on the beach are an excellent idea. A lot of people are enjoying this. People that own properties on the boardwalk .... ala Fascination, the cooking store, the doo wop diner ... does anyone notice the difference in the quality here? Ownership is huge in the business world ... others should take notice. The Wildwoods and the Crest could see great days in the future. Leadership is needed. "Ownership" is essential. Progressive thinking. The place is an absolute gem. Truth is, the hotels, the condos, the boardwalks .... it could all thrive headed into the next twenty-five years. Or it could fall apart quickly ... it probably will be one or the other ... |
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Post by novacancy on Oct 12, 2006 16:56:37 GMT -5
I agree with you on all counts. The market is over saturated with condos...now we start to see them sit empty, un-rented. Next we will see them for sale again...looking for a new owner to not be able to pay the mortgage.
I am also one of the few who will agree with you that the Morey's have TOO much of a monopoly on the Wildwood scene...especially regarding the boardwalk. I say that with some hesitation as I do realize that the Morey's went out on a limb and sunk a lot of $$$$ into the Wildwoods when the Wildwoods were not looking so good. For this, I am thankful. However, like with the "Disney" market, the boardwalks are starting to look increadibly GENERIC. If the Wildwoods SHOULD be anything....GENERIC is not it. I do hope (all do respect to the Morey's...and thanks to their financial gambles and successes) that other investors come along with NEW ideas and tastes to restore some fun diversity to the boards.
Lastly...how was the Fluer de Lis? It has always struck me as a nicely kept little motel. Were you surrounded by condo construction? Or, were you still isolated with a block of still standing motels. Would you recommend the motel? Tell us more. I had a cute place I loved to stay (lampliter), but became depressed when all I could see was gigantic condos on all sides but the beach. Was wondering what was surrounding the Fluer these days.
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