We’re all millionaires
Real estate in Sea Girt was on a tear. Seashore real estate was always more expensive than inland property, but Sea Girt was slow to catch fire. After WWII, there was no lack of demand, as the residential nature of the community drew families and many generations of vacation home owners. A strong link was built with the upscale North Jersey communities of Summit, Chatham, New Providence, and Ridgewood. Kids who grew up summering at their parents’ or grandparents’ in Sea Girt wanted a house of their own. Prices ebbed and flowed, but generally increased. The prosperity from the 80s and 90s was tempered by pollution at the beaches. With cleaner and expanded beaches, the property values skyrocketed. The New York Times noted how prices were cooler in New Jersey, but Monmouth and Ocean were surging, up 38% in 2 years. Real estate was a big part of the declining revenue of newspapers, and the Asbury Park Press reported on the market enthusiastically.
The Press helped give attention to real estate
By 2003, small Sea Girters on the east side of town sold for $1.2 million. Older homes on 100-foot lots were torn down for two homes. Investors, helped by looser regulations and easier borrowing, stepped in. Realtors Sitar, Henry Schwier, Ocean Pointe, and Gerald Murphy came to dominate the storefronts on Washington Blvd. They worked with builders and investors to find creative ways to remodel, increase square footage, and combine lots to increase density. In 2005, reality television popularized the term ‘Flipper’ as a new way to revitalize a community and make fast profit.
A large yellow animal often seen in town. A house eater.
Complaints from homeowners led to the borough council limiting apartments above garages, setting max building heights, construction hours, and reworking setbacks. A young architect, Christopher Rice, started working with Richard Graham, the longtime architect used by the town. Chris’ efficient seashore designs with elaborate floor plans were more suitable for the affluent who could afford to spend $1.2 million to knock a house down.
Television caught the reality realty bug
A large contingent of older Sea Girt residents who worked nearby and raised their children in town in the 70s, 80s, and 90s were ready to retire. Councilman Mark Regan was a good example. He retired from his position as a Principal in Toms River and was on the Council for 10 years, and a member of the Fire Company for over 20 years. He was lauded for his quiet leadership and assistance to Mayor Ahearn. No one begrudged the Regan’s well-deserved move to Florida.
There were two negative effects of the shiting population. West side real estate was still affordable to families. There was an indication that the children on the west side of town were being called “Westies” and looked down upon by some of the wealthier east side children. Small class sizes and one class per grade left no room to hide if kids did not get along.
The bigger problem was that the expensive homes attracted new retirees, vacation homeowners, and empty nesters from Northern New Jersey without school-age children. The idyllic suburban community where borough employees lived and worked, and the residents owned nearby businesses, was being disrupted by affordability concerns.
Small, single school districts were attacked by the McGreevy administration, which called for consolidation and reduced administration. The state audited the district and found very little room for cuts in Sea Girt, but as the student population was 200 and falling, there was no question that the cost per student was high.
Costs had risen. Frank Mazzitelle, the last hire before the school opened in 1970, was paid $8,900. When he retired in 2003 after 33 years of teaching and coaching three sports, replacement gym teacher salaries were up to $53,000 in New Jersey.
Rising home values gave the impression that the tax rate was low, but residents began to grumble about spending for staff and benefits. The Board of Education held firm.
Dr. James Rotolo of Baltimore Blvd. was a school board member since 1994 and was running for another term on the board in 2003. He noted to a reporter that the BOEs mission was to provide the “best possible education” for Sea Girt’s children. He defended home rule as the best way to achieve that objective, and by most standards, SGES was one of the best educations in Monmouth County. They were as efficient as they could be. In a later meeting on potential savings from administrative consolidation, he was wary of Trenton’s, “arrogance and ignorance in their monolithic approach.” The early 2000s attempt at school mergers yielded very little fruit.