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!
May 27, 2011
We Are Ready
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.
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May 26, 2011
Summer Weather
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.
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May 25, 2011
Memorial Day- a tribute
A must read: the heartbreaking Memorial Day tribute written by Dave Coskey for the current issue of Seven Mile Times.
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.
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May 24, 2011
Boat on a Rope
“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.
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May 24, 2011
Frenzy Week
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.Â
See you on the beach 🙂
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May 22, 2011
Selling in New Jersey?
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.Â
These facts are reviewed, and a revised figure is provided by the state.Â
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
May 21, 2011
So Far…So Good
Well, thankfully we are still here ;)  and we continue to prepare for Memorial Day weekend!
Exciting to see all of the businesses open and owners/visitors walking around downtown.
The beach fill project in Avalon stalled last week due to a combination of mechanical problems on the dredge and rough seas. The equipment is on 21st Street, and will continue to 30th Street through next week.
Once complete in Avalon, the entire project moves south to Stone Harbor, with the staging area adjacent to the 123rd Street beach entrance. The dredging company will work their way north to 80th Street during the month of June. There will be some inconvenience- beaches on either side of the work area must be closed for safety reasons.
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May 19, 2011
Creatures of Habit
Routines are a source of comfort in our often unsettled lives. Maybe that’s why most of us are creatures of habit.
Happy to see the return of the summer “creatures”: my fellow beach walkers, the dedicated early morning surfers, and the regular bike riders passed on my way to work. All strangers…yet we are connected by the routines in our daily lives.
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Stone Harbor Beach Fill
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).