Merry Christmas!

My youngest son lives in Colorado and is literally surrounded by mountains of snow.  Thankfully, we will enjoy 60 degree temperatures here at the shore – perfect beach weather for December!  The island is quiet as many of the locals travel to see family.  New Year’s weekend is popular with our summer property owners.  Be sure to take advantage of the sales on New Year’s Day in the local shops if you are in town.

The picture attached was taken yesterday morning as I walked on the beach.  The sky and water were purple at sunrise- an amazing view!  Have a wonderful holiday.

sunrise.jpg

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Naples: Our “south beach”?

There is an interesting connection between Avalon / Stone Harbor, and Naples, Florida.  Many local property owners (both year round and summer residents) also own in the Naples area.  The real estate markets are similar, and Naples has the same “name brand” recognition as Avalon and Stone Harbor.  It’s certainly not as casual as the Jersey Shore (iron that Windrift shirt before shopping at Publix), but the elegant atmosphere is part of the fun.  My current favorite restaurant: Zoe’s on 5th Avenue.

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December Market Update

Since November 1st, there have been 52 properties in Avalon and Stone Harbor (all types) reported as under contract or sold in our Multiple Listing Service.  This increase in activity is encouraging.  A common link is price reductions by the seller.  The buyers are focused on value and the current inventory provides the opportunity to be selective.  If an asking price is higher than the competition, the buyer assumes the seller is not ready to sell.  Overall, prices have decreased 12% to 15% (from the peak in 2005), and are comparable to sale prices in 2004.    

 

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Christmas at the Shore

Downtown Avalon and Stone Harbor hosted various Christmas events last weekend- and the crowds were here to participate.  After a nasty 2 day north east storm, beautiful weather returned in time for the parade and shopping.  Other than the hats and gloves, it looked like an August weekend!  A variety of stores will be open (with excellent sales) through New Year’s Day. 

 

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Time to Buy!

Stable interest rates, falling gas prices, and positive economic news have provided the needed confidence for buyers to consider a seashore purchase once again.  They have patiently watched the market adjust, and now recognize the opportunities available.

The recent sales figures are comparable to 2004- which in perspective was still a healthy real estate year.  New construction continues to be popular, with builders providing incentives such as furniture and financing to encourage a sale.  Sellers with specific time constraints have become creative as well.  Price reductions, owner financing, and seller credits are often necessary to stand out from the competition. 

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