Ann Delaney Beach Blog

Category: Seashore Real Estate

  • View from the Beach

    highdunesThe section of Avalon between 40th and 58th Street is unique among shore communities.  There is limited beach path access due to privately owned properties in the “high dunes”.   Some are only visible from the beach side- and it’s an impressive sight!

  • Home Delivery

    HomeDelivery A different take on “home delivery”.

    The 4th and final section (I could see a very nice kitchen already installed) of a modular home delivered today on 29th Street, Avalon.

    Once the connections were made, I heard the homeowner say “we have a house!”- she was very excited.  Their move in date is early March.

    I can’t say this is a huge trend, but I have seen more homeowners consider modular homes than in years past.  They are enthusiastic about both the cost and construction time savings.

  • Sales at the Shore

    There were 18 settlements in Avalon and Stone Harbor during the past 2 weeks- ranging from a basic cottage for $540,000, to an elegant bay front home for just over $4 million!

    There are an additional 34 properties sale pending (many scheduled to close by the end of this year).

    Please let me know if you have any questions about selling or buying on the island.
    Thanks!
    Ann              ann@anndelaney.com

  • October- Market Stats

    Avalon and Stone Harbor:  During the month of October, 27 properties SOLD (settled)  There are an additional 48 properties sale pending with settlement in the near future.

    Prices ranged from $369,899 for a 2 bedroom condo on the bay; to $2,800,000 for a new, Stone Harbor custom home on a large lot- 1 block from the beach.  The median selling price was $1,445,000.

    19 of the 27 sales were single family homes.

    Statistically,  current market values are in line with values from 2003.   If you calculate the entire 10 year period (a reasonable holding time for real estate), seashore real estate still grew in value.

    Example (based on an actual house located in the 100 block of 36th Street, Avalon).  Standard 2 level upside down style home built in 1980.  It SOLD in 1988 for $281,500; 1990 for $325,000;  1998 for $355,000; 2002 for $849,000; and in 2005 for $1,782,830.  Realistically, this house is worth in the $1,400,000 range today (falling within the average 20% decline since the peak in 2005). 

    If you would like specific value information for your neighborhood, please let me know-  ann@anndelaney.com

  • Interest Rates

    30 year fixed mortgage rates : below 5% for conforming loans (borrowing less than $417,000).  Just over 5% for jumbo loans (loans over $417,000).  Under 4.5% for 15 year fixed conventional financing.

    Incredible opportunity to re-finance or borrow for a new purchase!

    I am happy to provide names/contact info for reputable mortgage lenders:  ann@powerplayrealty.com

  • Columbus Day Weekend

    OctSaturday The news reported falling temperatures, but it’s still 70 degrees at the shore.

    Perfect weather to enjoy the local soccer tournaments, the Avalon Seafood Festival (30th and the beach), and the Stone Harbor Art Show (96th Street).

    Jellyfish

    Or, take a walk along the beach and see the odd looking jelly fish.  Quite pretty actually…for jelly fish.

    Have a great weekend!

  • Multiple Listing Service

    http://idx.sitesbyjoe.com/agents/powerplay/

    Use the above link to access the entire inventory posted to the Cape May County Multiple Listing Service.  Define your search by location and price- you might be pleasantly surprised by the options available to suit your needs.

    I appreciate the opportunity to help if you are thinking about a seashore purchase!  ann@anndelaney.com

  • Interest Rates

    Interest rates took an unexpected drop last week.  Citizen’s Bank and Wells Fargo are quoting rates under 5% for conforming 30 year fixed rate loans.  Jumbo loans (those over $417,000) are less than 6%.

    Good timing for our fall market! 

    If you need contact information for an area lender, please let me know.

  • Seashore Real Estate

    During the past 30 days,  23 properties SOLD(settlement) in Avalon and Stone Harbor.  The number of settlements each month has remained consistent since late spring…and it’s a huge improvement over our Fall 2008 market!

    The selling prices range from $250,000 (for an efficiency condo on on 96th Street) to $5,100,000 (for a custom bay front home on Pelican Drive).  The median price was $937,500 for a mix of condo/townhouse units, 2 duplexes, a vacant lot, and single family homes.

    All positive signs for an improving real estate market at the shore  🙂

    Drop me a note at ann@anndelaney.com if you would like to review the data.

  • Rental Licenses

    http://www.capemaycountyherald.com/article/55071-stone+harbor+require+annual+rental+licenses+fire+inspections

    Stone Harbor will follow similar guidelines already in place in Avalon- requiring annual inspections/licensing for all rental properties per an article in the Cape May County Herald.