Ann Delaney Beach Blog

Blog

  • Higher Limits = Lower Mortgage Payments

    The legislation to adjust the level for “Jumbo Loans” is expected to take effect as early as next week.  This is great news for borrowers.  Loans as high as $729,000* will qualify for the lowest interest rate offered (*the loan cap will be calculated on the average sale price in a region- final cap for our area to be determined).  This will be a dramatic increase over the current cap of $417,000.

    For example, on a $700,000 mortgage, the lower interest rate = savings ranging from $300 to $500 per month.

    Talk with your lender for more specifics.  I am happy to provide names/contact information for reputable lenders with experience in the Avalon and Stone Harbor market.  E-mail request to:  ann@anndelaney.com

  • Children’s Charities of Power Play Realty

    In 2005, Tim Kerr and the agents of Power Play Realty established a fund by contributing 1% of all sales commissions.  The money is distributed annually to 4 area charities providing services to children. 

    We are proud to support: The Brendan Borek Fund http://www.brendansfund.org/ ; Cape May County Special Services (receiving a check in the photo below); Children’s Hospital of Philadelphia; and The Dreamkeeper Program.

    To date, Power Play Realty has contributed over $25,000. 

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  • Beach vs. Treadmill

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    I will admit- I was a whimp last week.  The cold temperatures and the rain provided daily excuses to skip my walk on the beach…and unfold the treadmill.  I convinced myself that I would walk even longer because I could watch TV and be comfortable.

    Well, after 15 minutes, I was completely bored.  I missed the view (of course), the birds, the roar of the ocean, and the smell of salt air. 

    So, back on track (excuse the pun) this morning.  And I was rewarded with an amazing view of the sun over the ocean, and moderate temperatures.  Definitely better than TV!

  • The Rinse Cycle

    A good soaking rain to wash the road salt off our cars…and Mother Nature’s salt off the windows (at least on the side facing the wind).

    Expecting nice weather for the weekend- ideal for the potential tenants and buyers making the trip to the shore to look around.

  • Good News- Financing

    The mortgage rates are incredible- 5 to 5.65% for fixed rate loans; and around 6% for jumbo money.  We are also watching for a possible increase in the conforming loan amount.  Currently, loans up to $417,000 qualify for the best interest rates.  Loans above $417,000 are classified as “jumbo loans” and are charged a higher interest rate. The conforming level is expected to be increased to $729,000- good news for buyers and borrowers in this range.

    I will keep you posted!

  • The Big Chill

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    A bit of snow at the shore this week- and very cold temperatures.  But the sun is out and the ocean and beach look beautiful.

    Worth the effort to bundle up for a walk!   

  • Unsettled Times?

    I’m watching the financial news today. Like most people, I’m not certain of the impact on our corner of the world.  The Federal interest rate cut is great news- and we should see the lenders respond with very attractive options over the next week or two.

    We are definitely seeing more buyer interest.  Because Avalon and Stone Harbor are a seasonal market, it makes sense that buyers are focused on the approaching summer months. This is the ideal time to finalize a selection and make an offer.

  • Milestones and Temperatures

    Today is my birthday, and Mother Nature gave me the gift of temperatures just above my age.  Hint- the number was not a record breaker, but higher than average for January!

    I have attached a picture of my party on the beach with the birds  🙂

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  • Tide Changes / Real Estate

    I plan my walk around the tide schedule (for enough hard sand on the beach)- and it occured to me this morning that the real estate market is similar to the constantly changing tide- we just have to work (or walk) around it.

    We are finally hearing some positive news related to the banking/ real estate industry- and consumers are watching for good opportunites with interest rates and home prices.

    And, just as we can count on the returning tide, the mild weather is only a few months away…and we will be enjoying the environment that is unique to the seashore. 

    No need to fear the change of tide. Just take an alternate path that leads to the same destination!

  • Real Estate in the New Year

    We are starting to see activity with sales and rentals as our customer base looks forward to the summer of 2008.  There are great options on all levels…so come on down!

    Good news for buyers: we expect a slight reduction in the interest rates, too.Â