Planning Ahead

Thanksgiving weekend is HUGE in Avalon and Stone Harbor.  Family activities, a Christmas tree auction, music, and of course, the big parade!

Schedule of events for Avalon– click HERE

Schedule of events for Stone Harbor– click HERE

Stop by our office in Avalon on Friday, November 28th for a Power Play Realty logo gift.

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More Fall Colors

Crisp morning beach walk!

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Condominium- not a bad word

Owners of 2 unit style structures often resist the label of “condominium”.  Yet it’s the proper (and legal) term of ownership.

HarborDefinitions (used in our local real estate market):

Single family– 100% land ownership and a one family structure.  This designation applies to lot sizes large and small.

Duplex– 100% land ownership with a two family structure (one owner of the building).  If each unit is titled separately to 2 different owners, it becomes condo ownership.

Townhouse– a true townhouse has land ownership (like a city row home).  There are a few properties designated as fee simple town homes in Avalon (Golden town homes on 13th Street, 16th Street, and 80th Street for example).  The deed allocates a parcel of land specific to the structure.

Condominium– with a two unit structure (often side by side), each owner has an undivided 50% interest in the land.  A subdivision is not permitted, so the lot remains whole, and the two owners share land ownership.   Condominium documents (Master Deed and By Laws) are required and detail the shared expenses (condo fees) and basic rules.  Similar condo docs are used for larger complexes, too.   Condo fees- the master insurance policies (flood, liability, and fire) are shared 50/50. Likewise for weed control and/or landscaping.  Owners agree on any common area projects and share the cost.

Condominium– for larger buildings, the percentage of ownership may vary based on unit square footage.  Owners share expenses related to the complex, and any common amenities (elevator, pool, etc.).  The condo fees are more structured for bookkeeping purposes.

If you have any real estate questions, I am here to help!  ann@anndelaney.com

Thanks!

 

 

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Dark at 3:30pm??

How about a sunrise view instead!!

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Snow versus Sand

Halloween weekend views in the mountains of North Carolina.  The scenery is beautiful, but I am partial to sandy views at sea level 🙂

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More Fall Colors

Dune path on 57th Street, Avalon, NJ

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Changing Views

What a difference a day makes…

Amazing colors Wednesday morning (purple to red to yellow), versus the gray skies of today.

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Sunrise Views

Next week:  more daylight for my early morning walks.  I just won’t think about the 5 o’clock darkness 🙁

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High and Dry

Sandy and Biggert-Waters Flood Insurance Reform Act.

Both became part of our vocabulary in 2012, and continue to affect real estate ownership/construction along the New Jersey coast.

If a structure does not conform to the height elevation requirements of FEMA, the property owner pays a substantially higher flood insurance premium (regardless of actual flood damage from Sandy).

And if a major renovation project is planned, the municipality will require the owner to bring the house up to code for elevation (a long standing construction regulation).

Examples of house lifting projects underway in Avalon (metal beams around the house in preparation) and Stone Harbor (masons building the new foundation):

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Market Update, Avalon and Stone Harbor

salesignDuring the past 30 days, a total of 44 properties SOLD (settlement).

Of the 44 properties:

34 were single family homes.  The sold prices ranged from $555,000 for a 4 bedroom cottage on Weber Court in Stone Harbor; to $3,425,000 for a 3 level beach block home on 75th Street in Avalon.  The overall median selling price was $1,550,000.

9 were condo/townhouse units.  The sold prices ranged from $400,000 for a 3 bedroom condo in Holly Bay- 107th and Third Avenue, Stone Harbor; to a large side by side style unit with a garage at 81st and Second Avenue for $980,000.  The overall median selling price was $670,000.

One vacant lot transferred-  50′ X 110′ parcel at 33rd and First Avenue- the beach block side, for $1,100,000.

In addition, there are 70 properties sale pending, with settlements scheduled in the near future.  The median asking price of those sale pending: $1,324,500.

Questions about the market?  I am here to help!  609-967-7950  or ann@anndelaney.com

Thank you for your interest.

 

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