Although we are experiencing a strong rental season, there are plenty of homes/condos still available for rent this summer.  I am happy to e-mail you (or a friend) a detailed list of suitable properties: ann@anndelaney.com  Â
Thanks for the opportunity to help!
The bulbs in our yard are breaking through (although surrounded by an inch of snow yesterday!); Marabella’s Restaurant in Stone Harbor is open on weekends -with more businesses expected to be open by Easter; morning fog; Borough employees working on the beach entrances; and interested buyers making serious offers on seashore homes!
Warmer temperatures are bound to be on the way…Â 🙂
The legislation to adjust the level for “Jumbo Loans” is expected to take effect as early as next week. This is great news for borrowers.  Loans as high as $729,000* will qualify for the lowest interest rate offered (*the loan cap will be calculated on the average sale price in a region- final cap for our area to be determined). This will be a dramatic increase over the current cap of $417,000.
For example, on a $700,000 mortgage, the lower interest rate = savings ranging from $300 to $500 per month.
Talk with your lender for more specifics. I am happy to provide names/contact information for reputable lenders with experience in the Avalon and Stone Harbor market. E-mail request to: ann@anndelaney.com
In 2005, Tim Kerr and the agents of Power Play Realty established a fund by contributing 1% of all sales commissions. The money is distributed annually to 4 area charities providing services to children.Â
We are proud to support: The Brendan Borek Fund http://www.brendansfund.org/Â ; Cape May County Special Services (receiving a check in the photo below); Children’s Hospital of Philadelphia; and The Dreamkeeper Program.
To date, Power Play Realty has contributed over $25,000.Â
A good soaking rain to wash the road salt off our cars…and Mother Nature’s salt off the windows (at least on the side facing the wind).
Expecting nice weather for the weekend- ideal for the potential tenants and buyers making the trip to the shore to look around.
The mortgage rates are incredible- 5 to 5.65% for fixed rate loans; and around 6% for jumbo money. We are also watching for a possible increase in the conforming loan amount. Currently, loans up to $417,000 qualify for the best interest rates. Loans above $417,000 are classified as “jumbo loans” and are charged a higher interest rate. The conforming level is expected to be increased to $729,000- good news for buyers and borrowers in this range.
I will keep you posted!
I’m watching the financial news today. Like most people, I’m not certain of the impact on our corner of the world. The Federal interest rate cut is great news- and we should see the lenders respond with very attractive options over the next week or two.
We are definitely seeing more buyer interest. Because Avalon and Stone Harbor are a seasonal market, it makes sense that buyers are focused on the approaching summer months. This is the ideal time to finalize a selection and make an offer.
I plan my walk around the tide schedule (for enough hard sand on the beach)- and it occured to me this morning that the real estate market is similar to the constantly changing tide- we just have to work (or walk) around it.
We are finally hearing some positive news related to the banking/ real estate industry- and consumers are watching for good opportunites with interest rates and home prices.
And, just as we can count on the returning tide, the mild weather is only a few months away…and we will be enjoying the environment that is unique to the seashore.Â
No need to fear the change of tide. Just take an alternate path that leads to the same destination!
We are starting to see activity with sales and rentals as our customer base looks forward to the summer of 2008. There are great options on all levels…so come on down!
Good news for buyers: we expect a slight reduction in the interest rates, too.Â
December is a challenging month in the seashore real estate market.  Traveling to Avalon and Stone Harbor to see homes often conflicts with family events and holiday shopping.
So why look now? Interest rates have fallen below 6%; there are a variety of properties to see; and sellers are more reaslistic.Â
Another possitive indicator: a few builders are back in the market purchasing in prime locations for future projects.
We are not unrealisitic. The down turn in the early 1990’s caused our prices to remain level for several years. But a vacation home at the beach is not your typical “investment”- the personal use has huge value. And, history assures us that we will once again see tremendous property appreciation along the coast.
I’m here when you are ready!Â