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Sealed Bids Are Like the Golden Globes of Real Estate

Ooh, the mystery, the suspense. In case you're not familiar with the term, when a home is offered in a sealed bid—as these Wildwood Crest homes are—it means potential buyers submit their offers in golden envelopes brought to the seller by the be-gowned daughter of a famous Hollywood star. Or maybe it just means the offers are put in the mail, we're not quite sure. At any rate, the winners of the homes are the highest bidders, but in this case, the developer is publishing a minimum reserve, which is like the starting bid on ebay. That way buyers know exactly where to start with their bids ($799,000 for two of the homes and $899,000 for the other). So don't try to go lower than that, cheapos. As we mentioned before in a roundup of yet another list of rankings that do little more than promote the source of those rankings (note to selves: rank things), the Wildwoods scored top honors for Jersey beaches this year. That means these houses—now chopped from $1.75 million and sold fully furnished (though you might want to decline that offer)—are worth even more because who, after all, does not want to live near the highly rated Wildwood boardwalk?

These four-bedroom townhomes range from 3,157 to 3,323 square feet, and are the only freestanding homes on the beach at Wildwood Crest. They're still a part of the resort community, though, which means a heated pool and fitness center.
· Ocean-View Townhouses for Sale [Coastal Colors]