Ann Delaney Beach Blog

Category: Seashore Real Estate

  • Expectations for 2009?

    Lower interest rates (we are already seeing 30 year fixed rates around 5%)…a renewed sense of hope…more cautious consumers demanding good value…and, a focus on a healthier and “green” environment (the beach is a perfect fit there!).

    I have great confidence in the long term value of real estate ownership- especially in prime “location, location, locations”.  This confidence is based on my experience of selling seashore properties full time for almost (gulp) 30 years…as well as personal ownership.  It’s an amazing place to live…

  • Looking at Real Estate?

    It’s worthwhile to visit:  www.realtor.com  

    The web site was recently updated to include more photos, mapping, and aerial views.  All homes entered in the Cape May County Multiple Listing Service are uploaded to Realtor.com

  • Above Sea Level

    elevation.jpg  You may have heard the term “elevation” or noticed markings on a curb (in the photo- Elev 9.23).  The elevation of a street varies by location on the island. The lowest elevations are closer to the bay (the Avalon lagoon area is an exception), and the highest are on Bayberry Drive and in the dunes.

    New construction requires a first floor elevation of 11 feet.  And the rate for flood insurance is based on the elevation- below 10 feet will cost twice as much as above 10 feet (an issue when purchasing an older home that sits low to the ground).

    If major renovations are planned on a structure that sits below the required elevation, the Borough (Avalon and Stone Harbor) will require the home to be raised to meet code- a realistic factor in the decision to renovate versus tear down.

  • Island Information

    http://www.powerplayrealty.com/pages

    Check out  the Tim Kerr’s Power Play Realty web site- specifically the information page.  You will find restaurant information, maps, and links to a variety of local businesses. 

  • Market Statistics

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

    Click on the above link to the Power Play Realty web site to view current market stats.

    Quick summary:  The overall inventory has increased, as well as days on market.  The highest “days on market”  month this summer indicates a clearance of old sale listings (most of which had price reductions over their long period on the market).  Since January 2008, the percentage between original asking price and final selling price has lowered -from over 25% to a current rate of 17%.  This means that sellers have become more realistic about the value of their property- and understand, if listed at the right price, it will sell. 

    Bottom Line: Properties in all price ranges are selling at the shore.  Buyers want “value” for their dollar- and will pay a fair price for prime locations.

    If you have any questions regarding market values in Avalon or Stone Harbor, I am happy to help:  ann@anndelaney.com  or 800-682-5940

  • How to Weather the Financial Worries

    bay.jpg    Kayak on the bay at high tide…and then

      septocean.jpg  take a long walk on the beach and watch the dolphins play.

    Somehow, appreciating our beautiful surroundings and the simple things in life puts it all in to perspective.  Not much else we can do at this point anyway…

  • Yikes!

    house_made_out_of_dollar_bills.jpg  I have been selling real estate in Avalon and Stone Harbor since 1979 (a mere child when I started!)  Our market has weathered many volatile cycles…and we will survive this crazy time as well.  Frustrating that critical decisions may be based on political motives rather than what’s best for the country. 

  • Saturday Sun

    Ignore the weather reports! The sun is out and the temperatures are warm.  Even yesterday turned in to a decent day by the afternoon.

    Thursday’s storm caused some beach erosion along the Seven Mile Beach- but not as bad as anticipated.

    I watched a segment on the Today Show about real estate, and the advice was to buy in an area that will appreciate once the market turns.  I believe Avalon and Stone Harbor fit that definition perfectly.  We are a popular name brand seashore destination, and therefore a solid, long term investment.  

    shbeach.jpg  Plus…it’s a beautiful place to live  🙂

  • Bay Front for Sale

    Exceptional value- older bay front cottage located on a beautiful wide basin in Stone Harbor, NJ.  Ideal site to build a new home.  The lot will accommodate a 1,650 square foot 2 story home- not a “McMansion”, yet comparable to a townhouse (with the added benefit of more deck/dock space and privacy).  The existing cottage is functional, but the sellers are realistic about the highest and best use for this prime location.  Price at land value: $1,295,000.

    Update- Property now under contract  🙂

    103_4562.jpg   103_4549.jpg 

    Call for more details: 800-682-5940 or ann@anndelaney.com

     

  • Interest Rates- good news

    Rates sheets circulating from our local mortgage reps show rates as low as 5.625% for 30 year fixed!  Even the “jumbo” loans are favorable at 6.5% for fixed rate programs.

    Low mortgage rates, realistic sellers, and an ample inventory of homes available for sale…the perfect storm! 

    If I may help with your plans, please let me know:  ann@anndelaney.com  or 800-682-5940