Clarification- Realty Transfer Fee

I wrote about this subject last October https://anndelaney.com/2010/10/04/clarification-on-medicare-tax/  and our local board of Realtors is asking us to continue sharing  factual information with the public.  

Memo from the director of the Cape May County Board of Realtors:

In response to numerous e-mails concerning provisions of the new federal health care law stating that there is a new 3.8% federal realty transfer fee (RTF) on all home sales, NJAR® urges you to visit NAR’s website for information regarding RUMORS that a national RTF was created as part of the federal health care law. These rumors are FALSE. An across-the-board RTF DOES NOT exist as part of this or any other law.

As part of the federal health care law, a 3.8% medicare tax was enacted on net investment incomes for certain households (for individuals earning over $200,000 per year and couples earning over $250,000 per year). Furthermore, the 3.8% tax DOES NOT apply to all capital gains from a home sale. Only if the gain from the sale is over $250,000 for individuals or $500,000 for couples does the 3.8% tax apply. If the amount made from the sale as a gain is less than $250,000 for individuals or $500,000 for couples, the 3.8% tax does not have to be paid. Lastly, the 3.8% tax, if these provisions are met, does not take effect until January 1, 2013.
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Monday Morning Blues?

At the shore, it’s Monday morning blues…mixed with gray, pink, and yellow.

Quick- what is your first thought when I say the words beach and frozen?  A nice tropical drink, perhaps?

In the winter, the moisture in the sand freezes, turning even the “soft” sand into a hard, crunchy surface.

On the positive side, it becomes easier to walk close to the dunes…which in turn, partially block the cold north west winds 😉

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Time to Decorate?

Running a bit behind this year with our Christmas decorations.

The beach pavilions are putting our house to shame!

Time to focus 😉

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Year to Date Market Stats

Real estate market stats for January 1, 2011 to today for Avalon and Stone Harbor, NJ.

Year to date, there have been a total of 157 single family homes SOLD on the island; 104 in Avalon, and 53 in Stone Harbor.  The sold prices range from $370,000 for a cottage on Stone Court in Stone Harbor, to $12,417,380 for an 8500 square foot custom ocean front on on an over-sized lot on 75th Street in Avalon.  The median selling price was $1,300,000.

In the condo/townhouse category, 77 units sold on the island; 60 in Avalon, and 17 in Stone Harbor.  The sold prices range from $245,000 for a 1 bedroom condo on the bay at 96th Street, to $1,525,000 for a 2900 square foot side by side style bayfront unit on Ocean Drive.  The median selling price was $699,000.

If you would like additional information regarding real estate values in Avalon or Stone Harbor, please let me know.  ann@anndelaney.com

I appreciate the opportunity to help!

Posted in Avalon, New Jersey- News, Seashore Real Estate, Stone Harbor, New Jersey- News | Comments closed

Tribute

Long before super medical specialists and urgent care centers, we relied on family physicians.  In Avalon, that was Dr. Rodolfo Garcia.

Dr. Garcia moved his young family to Avalon in 1962.  His practice was part of his home; a simple interior door separated his work life from his home life.

Like most local residents, Dr. Garcia was a big part of my life.  He cared for my sisters and me since we were babies.  He knew our family medical history, because he also took care of our parents and grandparents.  His kindness was genuine…and his charming accent somehow made you feel better (especially if he suggested you stay home from school!)

When I returned to his office as an adult, I loved flipping through the thick collection of index cards stapled together- my chart! 

My sons were the 4th generation of patients.   As a mother, I had a new perspective and appreciation for Dr. Garcia’s skills and compassion.

Sadly, Dr. Garcia passed away on Thursday at the age of 86.  He will be missed by his immediate family, as well as his extended family of patients.

For more information: http://hosting-10528.tributes.com/show/Rodolfo-Anthony-Garcia-Rodriguez-92903682

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December at the Shore

December is definitely our transition month. 

Fewer hours of daylight.  Cooler northwest winds. Quiet streets. 

Yet, with the dunes blocking the wind, and a determined sun rising over the ocean…a beach walk still warms my soul.

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Wildlife & Technology

 Okay- he (or she) did not cooperate with the camera, but an adorable little sea otter greeted me as I walked along the 8th Street jetty. 

Why was I on the jetty in the pouring rain?  Well, I received a tweet from a fellow beach walker in Cape May, who read a tweet from a bird watcher posting from Avalon regarding a whale sighting! 

I was directed to the location of spouts from the humpback whale by 2 men who joined me on the jetty.  They had serious binoculars and LL Bean clothing…so they had to know what they were talking about 🙂

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December?

 Another mild December day at the shore.  

The merchants in Avalon and Stone Harbor are making it easy to shop locally.  Great selections, service, and SALES!

Harbor Holiday Wrap! 12-6PM

(as posted on the Stone Harbor Chamber of Commerce web site)

12/10/2011 – Holiday shoppers can enjoy secret Santa specials and progressive holiday cheer while ‘wrapping up’ that shopping in downtown Stone Harbor on Saturday, December 10 when 17 exceptional shops participate in the 2nd annual ‘Harbor Holiday Wrap.’ Rediscover the joy of local shopping with a personal touch as these shops offer free gifts, refreshments and even gift wrapping from 12 Noon until 6PM. Begin on the south side of 96th St. where Trendz, Hoy’s 5 & 10, and Pete Smith’s Surf Shop serve up treats and specials from 12 Noon until 1PM. Next, from 1 – 2PM move to the south end of Third Ave for happy holiday shopping and more at Eco Alley, Rip Tide East, The Harry Hunt and Paint Studio and Gallery. Still hungry for treats and bargains? Visit the shops of the North end of Third Ave. where Onni, Paisley Christmas Shoppe, Just Bead It, and Barrie Shoes will fill your belly and your shopping bags from 2-3PM. But that’s not all; turn the corner back onto the North side of 96th St. for visits to Global Pursuit, Seashore Ace, Bellanova, Talk of the Walk and Mimi Shop and Sun Catcher (at 95th and Second Ave) from 3-4PM. All shops will Shops will remain open from Noon to 6PM. What a perfect opportunity to ‘think outside the mall!’

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Christmas in the Mountains

Back at sea level after spending a few days visiting family in North Carolina.

The mountains are really beautiful; and the air is crisp and clear.

Yet…as soon as I stepped out of the car last night, the first thing I noticed was the smell of the ocean.  Ahhh…

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Dashing Through the Sand 5K

Need to work off a few Christmas cookies? 

If you will be in Avalon NJ on Saturday, December 31st,  sign up for Dashing Through the Sand 2011 (5K fun run).

Registration opens at 8am at the Avalon Community Hall (30th and Avalon Avenue); race starts at 9am.

Proceeds benefit The Craig Kenneth Lozier Memorial Scholarship fund.

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