May 31, 2011

For Sale- Avalon NJ

By ann

Another opportunity to purchase an “almost beach block” condo in Avalon (a second floor unit in this building sold last week).

1st floor unit at 55 32nd Street, Avalon features 3 bedrooms, 2 full baths, central air, attractive kitchen with granite counter tops, tile floors in main living area, and off street parking.  $545,000 furnished. Currently a summer rental property- $2000 week in prime time.

For more details: http://tinyurl.com/427zbgk  or contact me ann@anndelaney.com

Thank you for your interest!

Posted in Avalon, New Jersey- News, Seashore Real Estate | Comments closed
May 31, 2011

Holiday Weekend

By ann

BIG weekend in Avalon and Stone Harbor, NJ. 

Great weather and Memorial Day events.

Also part of the entertainment:  the beach fill project in Stone Harbor.  As of this morning, the 107th and 108th Street beaches are next in line for new sand.  Once the areas are filled and groomed, beaches are re-opened to the public (currently, 115th Street and south). 

By the way- the water to the right of the tractor is actually pumped in sand (mixed with water to push it through the pipe).  The water drains and the sand remains.

P.S. Interesting article posted by a fellow blogger about the connection with sports figures and the Jersey Shore (including my boss Tim Kerr): http://www.goingtotheshore.com/my-blog/2011/05/local-sports-figures-at-the-jersey-shore.html 

Stay cool!

Posted in Avalon, New Jersey- News, Life at the Shore, Seashore Real Estate, Stone Harbor, New Jersey- News | Comments closed
May 29, 2011

Stone Harbor Beach Fill

By ann

Picture taken last evening from the 122nd Street beach path- looking north.

The beaches between 115th Street and 123rd Streets are closed (owners and visitors are permitted to watch the action from the dune paths).

The young man working security said they are making great progress and should be finished the entire project well within the time allotted (by the end of June).

Posted in Life at the Shore, Stone Harbor, New Jersey- News | Comments closed
May 28, 2011

The Real Jersey Shore

By ann

Just one of the many beautiful views captured during a beach walk last evening.  This is why I will never understand the negative jokes about New Jersey!

Posted in Life at the Shore | Comments closed
May 27, 2011

We Are Ready

By ann

The sand is groomed, life guard stands and those distinctive boats are in position, and the crowds are arriving on the island.

In the winter, our defensive driving skills are limited to avoiding runaway trash cans on a windy day 😉   This weekend,  be alert for bikes, joggers, and distracted walkers as we all transition to summer.

Posted in Life at the Shore | Comments closed
May 26, 2011

Summer Weather

By ann

Humidity and warmer temperatures have arrived in advance of the holiday weekend.

The ocean is in the mid- 60’s, for those who feel the need to start the season with a swim.

The beach replenishment is complete in Avalon,and the equipment is now positioned in the south end of Stone Harbor (adjacent to the 123rd Street beach path).  The crews will work through the weekend, causing some disruption to owners/visitors on the nearby blocks.  All other Stone Harbor beaches will be open.

P.S.  In order to calculate when “your” beach will be closed, the dredging company estimates 2 blocks every 24 hours.

Posted in Avalon, New Jersey- News, Life at the Shore, Stone Harbor, New Jersey- News | Comments closed
May 25, 2011

Memorial Day- a tribute

By ann

A must read:  the heartbreaking Memorial Day tribute written by Dave Coskey for the current issue of Seven Mile Times.

http://www.7miletimes.com/

PFC John F. Kihm, a long time summer resident of Avalon was killed in action on April 19th, 2011.  He was only 19 years old.

A fitting reminder that Memorial Day is not just about the start of our summer season.

Posted in Avalon, New Jersey- News, Life at the Shore | Comments closed
May 24, 2011

Boat on a Rope

By ann

“Hey honey…it’s almost Memorial Day…time to untie the boat”.

How do you prepare for the big weekend?

By the way, Fred’s Tavern in Stone Harbor is schedule to re-open on Friday (closed since February for renovations). Will begin food service in June.

Posted in Life at the Shore | Comments closed
May 24, 2011

Frenzy Week

By ann

The week before Memorial Day weekend is VERY busy for local contractors.

Vehicles from service companies are parked on almost every block:  opening pools, window cleaning, landscaping,  power washing, outdoor furniture and grill delivery, etc.

All in anticipation of the 2011 summer season. 

See you on the beach 🙂

Posted in Life at the Shore | Comments closed
May 22, 2011

Selling in New Jersey?

By ann

If you are an out of state resident selling a vacation home in New Jersey, you may owe state income tax on the profit.

In order to ensure payment of these taxes, the state has implemented new regulations that must be followed prior to settlement.

The buyer (or buyer’s agent) files a notice of the sale to the Division of Taxation.  Because the state does not know the specifics of the gain on the sale, it sends out a form letter stating a required escrow amount (6.97% of the selling price!).  The seller should then submit an Asset Transfer Tax Declaration (TTD form) which details the original price and improvements made over the years, along with settlement costs- all deductions off the selling price. 

These facts are reviewed, and a revised figure is provided by the state. 

Bottom line:  the State of New Jersey is collecting the income tax on the gain from the sale (current rate of 8.97%) at settlement.  The funds collected are “estimated payments” for that tax year.  The seller then files a New Jersey tax return to settle up.

Any good news?  Your home state will recognize the payment made to New Jersey- the gain is not taxed twice.

If you have any questions, I am happy to provide information from my experience.

Posted in Seashore Real Estate | Comments closed
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