If Only…

A customer was talking about the new condo projects above commercial space in Avalon, and asked my opinion (overall) if sale prices could go any higher?

I’ve heard that question so many times during my 40+ years in the industry!

And, the question is typically followed by “If only I had purchased back in _____, when I could have bought _________ for $__________.”

So, yes, history confirms that the prices will eventually increase.

A buyer may feel like they are over paying at the time, yet eventually, they can brag how savvy they were to purchase at the shore 🙂

I am happy to answer any questions you may have regarding values in Avalon or Stone Harbor.

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Mid-Summer Cleaning

We are now at least 9 weekly tenants into the summer rental season (depending on the owner start date) and the properties are beginning to feel their “age”.

Extra attention is likely needed on the ceiling fans,  air-conditioning return vents, and outdoor living spaces.  The weeds in the landscaping and/or stones may be taking over the yard.  There might be multiple empty containers of shampoo and pieces of used soap in the outside shower. The drip pan under the grill probably needs to be emptied.

It’s always worthwhile for owners to be on hand for the occasional change-over for these reasons.

If you need assistance with extra projects , I am happy to make recommendations.

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Driving in NJ

While our grandson is here visiting, he’s learning the nuances of driving in New Jersey!

The other night, the challenges included bridges, flooded street (it was after the storm), and distracted pedestrians.

But the highlight was getting gas, and saying the phrase “20 regular cash”!

As lifelong NJ residents, we don’t give it a second thought, but I found a Google definition that made me laugh:

What is 20 regular cash?

This term is relevant throughout the entire state. In New Jersey, it’s illegal to pump your own gas, making ’20 Regular Cash’ a common phrase. Translation? “I would like you to put $20 worth of regular gas into my car, please and I will pay with cash.” The amount of gas received for $20 may vary.

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Beach Tags- Lost and Found!

At this point of the summer, tracking down wayward beach tags becomes a full time job 😉

Tip for rental property owners who provide tags as a courtesy for their guests:

Pin the tags to an item that will definitely stay with the house after the tenant checks out (a beach chair or beach wagon for example). Some owners have a lanyard with the house address so that all of the tags are in one spot.

Tags are a nice perk for your tenants- yet it’s frustrating when they disappear midway through the season!

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Job Description?

Sunday morning, I was walking with a baby gate to one of the rental homes I handle. The tenants have small children and expressed concerns with the steps in the house. So I brought over a gate from my house to provide a solution.

This sums up the “what do you do all day” question!

In the past week, I worked on issues with appliances, electronics, and an elevator. Sometimes the problems are “user error”, so I try to diagnose before calling in the professionals!

AND, in between, I’m showing /selling homes on the island! Busy summer schedule 🙂

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Paddle To A Cure, August 27th

I received information regarding a new event for this summer- a stand up paddle board race:

The event will take place on Sunday 8/27/23, launching from 81st Street Marina in Stone Harbor, NJ. We will feature both 5K and 10K distances, for both novice and experienced paddlers, with all funds going to the mission of the Cystic Fibrosis Foundation.

For more information, check out our event website: fightcf.cff.org/njpaddle

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Avalon and Stone Harbor beach fill project

The major beach fill project is finally ready to wrap up. The heavy duty equipment is currently at 122nd and 123rd Streets, pumping sand to the 1st jetty by the Point.

Once the pumping is complete, the pipes that run the length of the Stone Harbor beach from 92nd to 123rd Street will be removed.

It’s been a bit of an obstacle course for the past few months, but worth it for the beautiful, wide beaches along 7 Mile Island!

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Additional Thoughts on Summer Rentals

My observations regarding the status of our vacation rental season:

In the fall of 2022, we were busy confirming the 2023 reservations for repeat tenants. These are the families who return year after year (often to the same home) and are not hesitant about planning a full year in advance.

For many tenants, it’s more practical to commit to vacation dates after discussing with family members over the holidays. In January, we expect rental inquiries to ramp up to fill in our open weeks.

Unfortunately, this year was different.

After a few years of travel restrictions, summer vacations can now be defined with a broader view.

So is this a blip? Probably. The nostalgia of a traditional beach vacation remains strong.

Yet property owners should be aware that pricing is a factor with vacation decisions. Tenants expect value for their hard earned dollar. We will face that head on as we discuss rates for 2024.

And one last note: the rental market is rarely in sync with the sale market. It’s 2 different business models. There have been years when rental rates remained steady, while property values climbed considerably.

I’ve been fortunate to handle Avalon and Stone Harbor vacation rentals for 40+ years. As always, we will adapt and move forward together.

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Dune Plants

A variety of plants grow wild in the dunes by the beach. We may not even notice the vegetation until there are colorful blooms! As you walk to the beach, take note of the yellow flowers on the wild cactus…and how about this beauty on a Stone Harbor beach path!

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Tim Kerr Charities- Events for 2023

Participate, volunteer, or cheer from the sidelines!

View the 2023 events on the TK Charities web site.

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