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
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
The above file is a detailed summary of “land value” in the distinct neighborhoods of Avalon and Stone Harbor. If you are unable to open the attachment, I will be happy to e-mail you a copy. Send the request to ann@anndelaney.com
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If you would like to plan a last minute vacation to the Jersey Shore, there are a variety of homes and condos still available. Our rental season started strong at the end of June and through the 4th of July week, but the middle weeks in July and mid/late weeks in August are not fully booked.
What could be better? A short drive from home to spend a week on the beach! Plus, upscale shopping, nice restaurants, and low key family entertainment.Â
I will be happy to e-mail you some ideas:Â ann@anndelaney.com
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Although the weather could have been better, the 4th of July week was a success. We watched the Stone Harbor fireworks from our back deck because of the stormy weather. By Friday, the weather improved dramatically, and we enjoyed the Avalon fireworks on the beach. It was a great way for our visitors to end their week.
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Avalon has an amazing week’s worth of events scheduled: The Islandman Triathlon is Sunday, 7/1 (fun to watch- Community Hall at 7:30am). There are several beach concerts, a boat parade, a beach movie, and swimming/ field races. The fireworks in Avalon will be held Friday 7/6 at 9pm. Send me an e-mail ann@anndelaney.com to request a copy of the 1 page schedule (e-mailed to you in pdf format).
The fireworks in Stone Harbor follow an all day family festival at the 80th Street field on Wednesday, 7/4. Bring your chairs and blanket to save your spot.
See you there!
This weekend is the first big rental check in weekend- summer has arrived. Tenants who love vacationing at the shore are our future buyers. My expectation is that the sale activity will increase as our visitors discover that they have options within their price range.
We are surrounded by well maintained homes of every size and shape. But we are actually selling lifestyle, family time, outdoor activities, salt air, and time away from reality.Â
Avalon and Stone Harbor are well respected beach communities. The Seven Mile Beach will continue to be a smart place to own a second home, a rental property, or even live year round!
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The “Shore Guide” arrived in my mail just in time for Memorial Day Weekend after work beach reading. I especially loved the list of “We Can’t Wait To …” Many are laugh out loud and right on the mark funny!
Even those of us who live here year round get excited about sharing the traditions of summer with our family and guests. You can’t help getting caught up in the vacation spirit. Happy Summer!
What marks the official start of summer? Standing in line at Kohler’s for sticky buns and cream filled donuts! Judging by the crowds in front of the store this morning, I am not the only one who feels this way.
The island is busy and the weather is perfect for Memorial Day Weekend. Thanks to the hard work of our municipal workers, the beaches are groomed, the center islands are attractively landscaped, and the town sparkles for our visitors.
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I heard a great quote last week describing our current real estate market: “we are bouncing around the bottom”. I think that says it all. No one has the ability to make absolute predictions, but I sincerely believe that we will look back in a few years and there will be regrets of missed buying opportunities.Â
During my 25+ years of selling real estate on the island, I can’t tell you how many times a potential buyer has said “I remember when I could have purchased that property for $—“. We know from experience that today’s prices will eventually seem like a bargain.Â
Why? The second home market is fueled by the wealth of the baby boomers; Avalon and Stone Harbor have brand name recognition for those baby boomers; mortgage rates are favorable; the Jersey Shore is a convienent drive for short visits (a general vacation trend); and this is a beautiful area!
When you or your friends are ready to buy a beach house, I will be here to help!  Call or e-mail with any questions:Â
(800) 682-5940  or ann@anndelaney.com