Ann Delaney Beach Blog

Category: Seashore Real Estate

  • Happy 2007!

    The New Year is bringing good news on the real estate front.  Philadelphia Magazine’s recent issue has an interesting article about second and vacation home opportunities, and a segment on the Today Show this morning talked about the benefits of buying real estate now.  Locally, the number of  “under contract” postings in our Multiple Listing Service confirms this positive trend. 

    Another gauge of the confidence level in our area is the vast amount of new constrution underway.  Developers may not be as enthusiastic about building spec houses right now, but private homeowners are tearing down their older seashore homes and building beautiful new homes on their lots.  The quality of the architecture and construction is impressive, and continues to set a high bar for real estate along the coast.

  • December Market Update

    Since November 1st, there have been 52 properties in Avalon and Stone Harbor (all types) reported as under contract or sold in our Multiple Listing Service.  This increase in activity is encouraging.  A common link is price reductions by the seller.  The buyers are focused on value and the current inventory provides the opportunity to be selective.  If an asking price is higher than the competition, the buyer assumes the seller is not ready to sell.  Overall, prices have decreased 12% to 15% (from the peak in 2005), and are comparable to sale prices in 2004.    

     

  • Time to Buy!

    Stable interest rates, falling gas prices, and positive economic news have provided the needed confidence for buyers to consider a seashore purchase once again.  They have patiently watched the market adjust, and now recognize the opportunities available.

    The recent sales figures are comparable to 2004- which in perspective was still a healthy real estate year.  New construction continues to be popular, with builders providing incentives such as furniture and financing to encourage a sale.  Sellers with specific time constraints have become creative as well.  Price reductions, owner financing, and seller credits are often necessary to stand out from the competition.Â