Ann Delaney Beach Blog

Category: Seashore Real Estate

  • Sold!

    The vacation home market continues to thrive. 

    In the last 30 days, 39 properties SOLD (settlement) in Avalon and Stone Harbor, with a median selling price of $1,030,000.

    From that total, 11 condo/townhouse units sold, ranging from $500,000 for an ocean view 2 bed/2bath unit in Golden Shores; to $1,300,000 for an ocean front townhouse style unit on 28th Street and the boardwalk.

    26 single family homes sold, ranging from $525,000 for a basic rancher on 78th Street (across from the Concord Suites), to $5,325,000 for an ocean front home on 109th Street (will be torn down).  The median selling price for single family homes: $1,325,000.

    There were 2 multi-family properties sold- a duplex on 99th Street for $682,600, and a four-plex on 30th Street for $850,000 (both sold for land value).

    In addition, there are 71 properties sale pending, with settlement scheduled to occur within the next few months.

    If you would like more details regarding market values in Avalon or Stone Harbor, please let me know ann@anndelaney.com   I appreciate your interest!

  • Outside Water

    Add this to your “To Do” list: turn off the outside water at your shore house.

    The plumbing for the outside shower WILL  freeze and crack if not properly winterized.  Many home owners do this themselves by shutting off the valve in the crawl space, and then removing the cartridge in the shower and allowing the water to drain.

    Two other important items:  1) Even if you have a frost free hose bib outside, remove the hose from the faucet when not in use. Water will freeze in the hose and push ice up into the faucet and crack the pipe. 2) Faucets on upper decks are typically NOT frost free, and the therefore subject to freezing.  Drain those faucets with the valve in the crawl space.

    FYI- we typically experience our first “freeze” by late November. 

    If you need a recommendation for a plumber to help with these tasks, please let me know. ann@anndelaney.com

  • 2013 Rentals

    We received a great response from property owners providing their 2013 rental rates and availability.

    We are now actively sending leases to repeat tenants in order to confirm those reservations.

    If you are searching for a vacation rental for 2013, only those properties with confirmed rates will show in the results.  Check back again if you are unable to find a suitable property…we will have more options over the next 30 days.

    Our web site: www.powerplayrealty.com  or e-mail me direct with your request.

    Thank you for your interest!

  • Live on the Water

    New Sale Listing:  Completely renovated 1st floor bay front condominium with easy access to the bay, dock, and boat slip. 

    3 bedrooms, 2 full baths.  A wonderful year round get a way.  $725,000 furnished.

    1322 Ocean Drive, Unit 12, Avalon NJ 08202

     

  • Construction Boom

    September has always been a big month for demolition and construction starts. 

    And based on the number of homes going down, the local contractors and suppliers should find steady work all winter. 

    All good news for our local economy.

    By the way, the Stone Harbor “house” pictured was purchased in the spring for $6,600,000!  Ocean front location, and an over-sized lot.

  • Shore Sales

    Another settlement today…can you tell I’m smiling??

    The Avalon and Stone Harbor market is following the national trend with sustained sale activity.

    In the past  30 days, 40 properties  sold (final settlement), with a median selling price of $825,000.  AND, an additional 75 properties are under contract, with settlement scheduled to occur within the next few months.  The median list price of those sale pending is $1,150,000.

    As a reality check, there are a total of 470 properties for sale (single family homes, condos, town homes, duplexes, etc.) on the island.  Buyers have choices and continue to be focused on value.

    If you would like additional information regarding buying or selling  seashore property, I am happy to help.  ann@anndelaney.com

    Thank you for your interest!

  • Summer of 2013

    Just a few weeks past Labor Day…and we are already thinking about the summer of 2013!  

    The Power Play Realty 2013 Rental Authorizations have been mailed, and we are actively updating our web site with confirmed rates and amenities.

    The decision regarding rates depends on several factors:  repeat tenants, open rental weeks, and planned updates to the property.  A modest rate increase is reasonable if the rates have remained steady for several years and/or new amenities are planned.

    If you would like to list your Avalon/Stone Harbor property for rent with Power Play Realty, please let me know:  ann@anndelaney.com

    I appreciate the opportunity to help!

  • Interest Rates

    Wow!  Looking at the weekly rate sheets provided by the various lenders active in our market- what an incredible opportunity for a new purchase or re-financing.

    For a 30 year fixed rate mortgage, the published interest rates range from 3.5% to 4% (depending on amount borrowed). For a 15 year fixed mortgage, even lower from 2.625% to 3%.

    What does this mean in real dollars?  Even a 1% difference provides significant savings (or allows you to buy up). 

    For example: $800,000 loan.  Not long ago, an interest rate of 4.875% was the norm (jumbo rate).  If you calculate and compare the mortgage payment at the current rate of 3.875%, the same loan will cost $472 LESS each month (a total savings of $5,662 a year).  

    If you have been on the fence regarding a shore purchase…what could be a better incentive?

    If you would like a recommendation for a knowledgeable mortgage representative, please let me know.    ann@anndelaney.com

    And of course, I appreciate the opportunity to help you with a purchase in Avalon or Stone Harbor.

  • Market Stats- wow!

    “How’s the market?”  A common question.

    For the past year, I have expressed cautious optimism…while knocking on wood!

    Yet in the last month or so, I can back up my optimism with solid facts.  The shore market is VERY active.  Buyers are back.  More properties are posted Under Contract every day. 

    As of today, there are a total of 79 properties under contract in Avalon and Stone Harbor, with a median list price of $1,200,000.

    In the month of August, 31 properties sold (completed settlement), with a median selling price of $756,000.

    If you have an interest in buying or selling in Avalon/Stone Harbor, please let me know: ann@anndelaney.com

    I appreciate the opportunity to help!

  • Sale Activity

    While making appointments for this weekend, I was told that 2 of the 6 properties I wanted to show are under contract.

    Our multiple listing service hot sheet provides proof of an improving market. There are several Avalon and Stone Harbor properties posted as under contract every day.  It’s exciting to see.

    Realistically, we may not see values increase for some time. Buyers are taking advantage of “the bottom”- making decisions based on recent comparable sales. They are willing to pay current market value…but not an inflated price.

    If you would like information regarding island real estate:  ann@anndelaney.com

    I appreciate your business!