Ann Delaney Beach Blog

Category: Seashore Real Estate

  • Rental Inspections

    The Boroughs of Avalon and Stone Harbor require annual inspections for all rental properties.  The Department of Fire Prevention checks for safety issues and code violations.

    All rental properties must have smoke detectors (within 10′ of each bedroom, and at least one on each floor), GFI outlets within 6′ of a sink, and carbon monoxide detectors in homes with gas /oil, a fireplace, or an attached garage.  A commercial grade fire extinguisher (serviced annually) located in the kitchen.  And no propane tanks (for gas grills) on decks or within 5′ of exterior walls. 

    The construction office in each town has a similar inspection for the transfer (sale) of all properties, too.

    For more information, call 609-368-5102 ext 105 in Stone Harbor; or 609-967-4220 in Avalon.

  • January Stats

    Avalon and Stone Harbor, NJ:  12 properties were posted as Under Contract (settlement within the next few months); and an additional 18 homes SOLD (final settlement) during this month . 

    Not bad for a cold January at the shore!

  • Mortgage Interest Rates

    Rate sheets e-mailed to me today from several area lenders:  30 year fixed rate for loans less than $417,000 available for 5%.   Jumbo loans (over $417,000) have a slightly higher rate of 5.5%.  For loans greater than $750,000, the rate is 5.875%.  The adjustable rates are more attractive for the higher loan amounts-  4.75% range.

    One company promotes a special 2nd home loan program with just 10% down.

    I have good contacts with local representatives for the major mortgage companies if you are considering refinancing or buying new.  ann@anndelaney.com

  • Market Stats

    Updated market stats for Avalon, Stone Harbor, and Sea Isle City are posted on the Power Play Realty web site:

    http://www.powerplayrealty.com/pages/market-statistics-updated-avalon-stone-harbor-sea-isle-nj

    There is also a link to a Multiple Listing search for all of Cape May County on the “Sales” page.

    Any questions?  I appreciate the opportunity to help!  ann@anndelaney.com

  • Insurance- Condominiums

    Important information if you own a condominium along the shore:

    Lenders must review and approve the master condominium insurance policies prior to a sale- and the same guidelines apply whether it’s a 2 unit building,  or a 60 unit complex.

    According to FHA guidelines, the condominium association is required to maintain Hazard Insurance equal to 100% of the current replacement costs.  The condo buyer must obtain an HO-6 Policy for “walls in” coverage.

    The master Flood Insurance coverage must be equal to the Hazard Insurance coverage (replacement costs), or up to $250,000 per unit, whichever is less.  

    If the insurance coverage is not adequate, the loan will be denied.  It’s in the best interest of a condominium association to conform with industry requirements so that units can be sold- critical to maintaining real estate value.

    Check with your insurance agent for additional information.

  • Cape May, NJ

    CapeMay3For many of us, visits to Cape May are limited to the beach side promenade or one of the many popular restaurants.

    Now that my mother lives in Cape May full time, I am better able to appreciate the character of this charming city.

     

     

     

    CapeMayIf you enjoy looking at houses (and who doesn’t?), walk the side streets around town.  There are gingerbread cottages, Victorian mansions, and grand old beach homes.  The upkeep must be overwhelming- it takes a special person to respect the history of a home and live with imperfection!

    For guided tours and special events in Cape May, visit: http://www.capemaymac.org/index.html

  • January Thaw

    iceonjettyTemperatures are expected to soar in to the 40’s over the next few days!

    That will help with sale and rental activity during the 3 day weekend  🙂

  • Tweet??

    Twitter-Logo In my quest to stay current in 2010, I signed up on Twitter. 

    http://twitter.com/AnnDelaneyBeach

    I promise not to bore you with my breakfast menu ;)    Will post local news and real estate information, with links back to this blog.

  • I’m Waiting…

    June09I was looking through pictures on my computer, and this one from last summer made me smile (of course!)

    I  couldn’t post another COLD beach picture today…I want to be warm and think of better weather days ahead.

    Are you planning a seashore vacation in 2010?  I handle properties in the Avalon and Stone Harbor area.  Search our web site: www.powerplayrealty.com  or send me an e-mail request:  ann@anndelaney.com

    I appreciate the opportunity to help!

  • Goodbye 2009

    There were certainly happy moments and positive events during the past year (a family wedding, a big anniversary, and hugs from grandchildren, to name a few).  Unfortunately, the negative issues were often the focus of our attention…especially within the real estate industry.

    95thStreet

     

     

    Looking forward to an improved sale and rental market in 2010!  Happy New Year-  see you on the beach  🙂