Author: ann

  • Important info for bay front owners

    This subject came up yesterday while meeting with a bay front property owner.

    A re-post from June 2016. 

    I attended a seminar this morning with important information regarding bay front ownership.

    Some Riparian Grants issued between the late 1980s through the early 2000s have the following language:

    “This grant is made upon the condition and limitation that there shall be no further filling of the presently flowed tidelands.  If any filling does occur within the presently flowed tidelands herein granted, the title to the lands conveyed herein shall immediately and automatically revert to the ownership of the State of New Jersey, but without any diminution in the consideration paid upon the delivery of this instrument.”

    When a property owner installs a new bulkhead (which typically extends out 24″ from the existing bulkhead based on current zoning), the State defines the added 24″ as  “filling”.  And YES, even if the required DEP and/or CAFRA permits were obtained.

    The Department of Tidelands has a new regime, and this enforcement is viewed by attorneys and title company representatives as a method to generate revenue.  Frustrating to say the least!

    Bottom line: the State of New Jersey expects the land owner to “buy back” this filled area, even though a large sum of money was paid for the original Riparian Grant.  

    Unfortunately, the issue will not go away.  Even if a bay front owner has no plans to sell, their heirs will eventually face the problem.  And because the cost to resolve is based on the value of the land, it makes sense to remove the lien sooner rather than later.

    Practical steps if you own a property on the bay:

    1) Find your original title work (settlement papers).  If a Riparian Grant was issued on the property, it will be attached.

    2) Read the language in the grant- checking specially for the reverter clause referenced above (not necessarily in all grants).

    3) If the reverter clause is in the grant, and you have installed a new bulkhead that sits out beyond the original bulkhead, it’s important to move forward with a resolution.  A current survey will be needed to show the exact measurements of the new bulkhead, too.

    A local title company and land use attorney can help you apply for a Statement of Non-Interest or a Confirmatory Grant from the State of New Jersey.

    I am here to provide recommendations for experienced professionals, and answer any questions to the best of my ability.

    Docks

     

     

     

     

     

  • Tuesday Break

    A major perk of living AND working by the beach: a quick break to see the ocean!

    Surfers21stPavillion

  • Election Day

    As one of 920 registered voters in Stone Harbor, I KNOW my vote counts!

    Vote

  • Avalon Fishing Pier

    The extension is complete, and the pier is once again over the ocean!

    Pier

     

  • October Real Estate Stats

    salesignAnother active month of sales in Avalon and Stone Harbor NJ!

    During the past 30 days, a total of 41 properties SOLD (settlement) with an overall median selling price of $1,440,000

    13 of the sales were for condo/townhouse style units, ranging from a 1st floor 3 bedroom condo over the 21st Street bridge for $400,000; to a newer bay front townhouse style (side by side) on 20th Street for $1,725,000.  The median selling price of all condo/townhouse units- $799,000

    27 of the sales were for single family homes, ranging from a small cottage on Linden Lane in Stone Harbor for $425,000; to a custom 3 level bay front home with a pool on Fifth Avenue in Avalon for $4,750,000.  The median selling price of all single family homes- $1,612,500

    1 sale was posted as a multi-family (duplex) at 160- 84th Street, Stone Harbor. Purchased by a builder and torn down (land value sale) for $1,250,000

    In addition, there are 86 properties sale pending, with an overall median list price of $1,399,000 (final selling prices are posted after settlement).

    Please let me know if you have any questions regarding market values in Avalon or Stone Harbor NJ.  ann@anndelaney.com  609-967-7950

    Thank you for your interest!

     

     

  • November

    Noticed a jack o’ lantern face in the clouds this morning!  Avalon NJ

    sunrise

  • Stone Harbor Bridge

    A structural crack was discovered late yesterday on the 96th Street draw bridge.  The bridge is closed until repairs made- likely after the weekend.

    Fortunately, the Ocean Drive bridge via North Wildwood Boulevard is no longer charging tolls (closed for the winter).

    UPDATE 11/1/16- the repairs are expected to take at least 1 week.  

    BridgeOpen

  • Fall Weather at the Shore

    Yesterday- “I can’t believe it’s so hot”.

    Today- “Ugh, it’s so damp and cold”.

    A picture from yesterday to hold us over 🙂

    path

     

  • Tax Evaluations

    Both Avalon and Stone Harbor have scheduled a tax re-evaluation for all properties within the municipality.

    Property owners will receive notice, and a request for inspection.  It’s always in your best interest for the tax assessor to see the interior so that you are credited with the correct amenities.

    Once the evaluations are complete, the tax rate will be adjusted accordingly.

    The communities are required to maintain tax assessments within a close percentage of fair market value.