I was reading an article this morning about an historic home in a nearby shore community. The owner said the house sits on “the highest part of the island”. I laughed, because I have heard this phrase from almost every home owner I have worked with through the years. Avalon and Stone Harbor should be covered with mini-mountain peaks based on these statements. I even heard my husband saying it one day to a neighbor about our block – so it must be true!
Month: August 2007
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Enough Already!
It’s been raining since Sunday and we are more than ready for the sun to return. A week like this is when the tenants appreciate the amenities provided in a rental home. If the property is comfortable and inviting, a rainy day inside is more tolerable.Â
The skies are scheduled to clear today…although the view from my office window is still heavy mist/rain. Here’s to a brighter afternoon!
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Brendan Borek Weekend
I am proud to support the Brendan Borek High Tides Memorial Fund. This is a true local charity- helping Cape May County pediatric cancer patients and their families. The Surf Memorial (today on the 30th Street beach in Avalon) and Homecoming Party (tonight at the Windrift from 6pm to 9pm) are the big fund raising events.
For more information, call (609) 967-0100 or visit:Â www.brendansfund.org
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Better than a Pig (see 8/9/07 post)
What an amazing morning for a beach walk. The sky was a brilliant blue. The sun was glistening off the ocean. Surfers were lined up to ride the swells. Monarch butterflies floating through the air. A comfortable breeze. Could life be any better?Â
Well yes, if you add the soulful sounds of a bagpipe!  A retired Avalon police officer was practicing his craft while walking along the water’s edge.  The music traveled in the wind for several blocks- very moving (women my age can relate to the emotion thing!)
AÂ wonderful way to start the day…
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Mortgage Concerns- a reality check
We are hearing from the local mortgage reps who actively work in the vacation home market. The guidelines and programs have certainly changed since the fallout from high-risk loans. But, they are still lending money, and open for business.
Back in the “normal” days, loans were typically 80% of the purchase price, and buyers had to show proof of income (imagine!). The 100% loans based on stated income (often called low-doc or no-doc loans) were a risky business move and are coming back to haunt the lenders.
If you have a solid credit score, a 10% to 20% down payment, and proof of income (tax return, W-2, profit/loss statement, etc.), the interest rates and loan programs are still favorable.
Most buyers in our market opt for an interest only product. The 7/1 or 10/1 ARM’s make sense for many. There is always the option to pay down the principal if a buyer decides to stay in the property for a longer period of time. But most have plans to trade up, re-build, or re-finance by the time the 10 year locked in rate time period expires.
I have excellent contacts in the mortgage business- people I have known for years, and trust. I will be happy to pass along those names and numbers if you have questions about a current or future loan. ann@anndelaney.com
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Livestock on the beach??
I walk on the beach each day before work…and frequently see people with dogs. But a pig? There was a young man on the 101st Street beach this morning walking his pig! It was a large, pot bellied pig – on a leash. I asked the young man holding the leash if he lived here…and he said his family was vacationing from Pennsylvania, and brought along the pig. I didn’t have the nerve to ask if they were renting with a “pigs permitted” clause in their lease!Â