Author Archives: ann

December 13, 2012

Just Because…

By ann

Picture taken 2 weeks ago- the Avalon Fishing Pier.  Since then, we haven’t seen much of the sun.  Today, we have a cloudless sky and bright sunshine.  And, based on the flags over Hoy’s: a steady wind from the north. This official weather report is brought to you from the comfort of my office over looking Dune Drive 😉

Posted in Life at the Shore | Comments closed
December 11, 2012

Beach Tag Discussion

By ann

Frustrating to read that a few elected officials want to hold funding for Sandy relief hostage, in trade for eliminating beach tags. Do they think the shore communities make a profit from this revenue?

The reality: money generated from the sale of beach tags is used to off set the cost to maintain, clean, and guard the beaches.

For more detail, I have attached the article from today’s Press of Atlantic City: Beach Tags

Yes, it’s a user fee- similar to paying a toll on a roadway.  And, yes, the year round residents and property owners (aka tax payers) buy tags, too.

We purchase 6 seasonal tags each summer; $126 total for the privilege of using “my beach” and sharing it during family visits.  For that nominal fee, I see the tractors raking the beach each morning, the Borough Public Works crew emptying the trash cans, and the well trained lifeguards in their assigned spot.  A bargain!

Posted in Life at the Shore | Comments closed
December 10, 2012

Tax Change for 2013

By ann

Clarifying the “3.8% health care tax” as it applies to real estate sales.

Quick summary:  as of January, there will be an additional tax of 3.8% on unearned income- which includes capital gains income.

For primary homes- the additional tax only applies if the seller’s adjusted gross income exceeds $200,000 ($250,000 if married), AND the gain exceeds the exclusion amounts ($250,000 for single tax payers; $500,000 married tax payers).

For second homes/investment properties- if the tax payer’s adjusted gross income exceeds $200,000 ($250,000 if married), the 3.8% tax WILL apply to the gain.  This is not a tax on the selling price- it is a tax on the gain (profit).

Therefore, based on the current capital gains rate of 15%, the seller of a vacation home may be required to pay a total tax of 18.8% on the gain.

If the vacation home is held as a rental property, many sellers participate in a 1031 Tax Deferred Exchange. This strategy works if the plan is to acquire a replacement rental property.

For more information: talk to one of the experts at Realtex (a local 1031 Exchange company), or your accountant.

Posted in Seashore Real Estate | Comments closed
December 10, 2012

Life in Black and White

By ann

Have to really look to find color on these foggy days!

 

Posted in Life at the Shore | Comments closed
December 8, 2012

Dashing Thru the Sand

By ann

Will you be in the Avalon area on Saturday, December 29th?

If so, burn off a few Christmas cookies by participating in the annual Dashing Thru the Sand 5K race/walk.

Registration opens at 8am inside the Avalon Community Hall; race time 9am.  $20 registration fee.

Proceeds benefit The Craig Kenneth Lozier Memorial Scholarship fund.

Posted in Activities, Avalon, New Jersey- News | Comments closed
December 6, 2012

What’s Open?

By ann

Dining options in Avalon and Stone Harbor during the holidays:

Wawa- Avalon closed for renovations after Sandy; Stone Harbor open.  Alternatives for your coffee fix- Avalon Coffee is open every day; Coffee Talk on weekends.

Uncle Bill’s- Stone Harbor closed for the season; Avalon is open 7am- 2pm year round.  Also for breakfast/lunch- Pudgie Pelican and Brian’s Waffle House.  Maggie’s sold at the end of the summer- new owners are renovating.

Seven Mile Island Deli at 31st and Dune Drive, Tonio’s on 25th and Ocean Drive, Circle Pizza, and Nemo’s on 97th and Third Avenue for a quick lunch (or pizza).  Also, Fred’s Tavern and Circle Tavern for typical bar fare, plus dinner specials.

Dinner:  Concord Cafe is open Thursday-Sunday.  Rocking n’ Chair has a similar schedule. Grand Moon for take-out (every day except Monday). The dining room at the Golden Inn and The Sea Grill are open year round (as well as the places mentioned above).

For off island options- The Bellevue Tavern (lunch and dinner) and Main Street Cafe (BYOB for dinner) on Route 9 in Cape May Court House are both great options.

P.S.  Additions: Stone Harbor Pizza, Jack’s Shack, Harbor Pub, and Cafe Noir – sorry! Also, the Windrift is advertising a New Year’s Eve event.  And, this is “last call” weekend at the Concord Cafe.

Posted in Avalon, New Jersey- News, Stone Harbor, New Jersey- News | Comments closed
December 4, 2012

SOLD

By ann

A flurry of settlements posted for Avalon and Stone Harbor during the past week.

What’s selling?  A quick overview:

1) Basic 2 bed/1 bath cottage on Bower Court in Stone Harbor sold for $425,000    2) Vacant lot 50′ X 110′ on 11th and Dune Drive sold for $675,000    3) Large 2 story home on an over sized lot on 95th Street adjacent to the commercial district sold for $730,000    4) Old seashore home on a full size lot in the 300 block of 95th Street sold for $749,800    5) Cape Cod style home on the corner of 38th and Dune Drive sold for $890,000    6) Basic bay front cottage on an undersized lot on 104th Street sold for $1,000,000    7) Beach block tear down on 17th Street sold for $1,672,000    8) Newer home on the 110 block of 89th Street with a pool sold for $1,750,000    9) Brand new 3 level home in the 100 block of 31st Street with a pool sold for $1,850,000    10) 3 level home built in 2007 with a pool, in the 100 block of 39th Street sold for $1,995,000    11) Large bay front home near Fifth Avenue on 42nd Street sold for $2,100,000    12)  Oversized bay front parcel with existing house and pool at the end of Heron Drive sold for $5,850,000.

If you would like additional information regarding market values for Avalon/ Stone Harbor, please let me know.  I appreciate the opportunity to help!  ann@anndelaney.com

 

Posted in Seashore Real Estate | Comments closed
December 3, 2012

Perspective

By ann

The best way to see the ocean front homes on the island?  From the paths, and on the beach.  It’s the only way to really appreciate the architecture (and get a perspective of the views).   Another excuse for me to walk along the beach as often as possible 😉

 

Posted in Life at the Shore, Seashore Real Estate | Comments closed
December 2, 2012

Worthwhile Article

By ann

Interesting article in today’s Press of Atlantic City: Vacation Homes Tangling Recovery   The contrast between residents and second home owners is described as it relates to assistance from FEMA and flood insurance.

In Avalon and Stone Harbor specifically, only 14% of the dwellings function as a primary residence.  I was thinking about this recently as I walked by homes with sea grass still in the yard, and evidence of dampness along the block foundation.  The interior of the house may be fine, but the crawl space was obviously flooded.  The water is gone, yet if the insulation and/or duct work got wet…it needs to be replaced.  I worry that those owners will be back in April and find mold inside their home- a much more expensive fix.

Better to hire someone to thoroughly inspect the crawl space (and garage)- just to be sure.  If you need a recommendation for a contractor or HVAC company, I am happy to help.

 

 

Posted in Life at the Shore, Seashore Real Estate | Comments closed
December 1, 2012

Buying at the Shore

By ann

Considering a shore purchase?  Owning a vacation home continues to be a dream for so many. It’s a major financial investment, and therefore important to make the best selection possible.

That’s where I can help.  It’s my goal to find the best fit – location, amenities, price.  And, provide complete information regarding financing, carrying costs, income potential, insurance requirements, and zoning.  If I know something about a property/location- good or bad- you will know it, too. The island is not only my place of business…it’s also my home.

A common question on a barrier island: does this area flood?  Always an important disclosure; and even more so after Sandy.  In the weeks since the storm, I have purposely walked most of the neighborhoods to see for myself.

Thank you for your trust, and referring your friends.  I appreciate the business!

Posted in Seashore Real Estate | Comments closed
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