Every year, a few well meaning parents and grandparents allow their high school or college graduates to stay at their beach house…with “just one or two friends”.
Ultimately, the friends multiply along with the noise level!
A small cottage near our home is maxed out with young people who stay up WAY past our bedtime 😉
Thankfully, they were respectful when we mentioned this concern and agreed to keep their music to a low roar.
Hopefully a mellow Saturday night ahead ðŸ˜
Watch the sun rise over the Atlantic Ocean every morning.
8221 First Avenue, Stone Harbor NJ
$2,900,000 completely turn key
For the MLS link, click HERE
For the drone video, click HERE
What a roller coaster week of weather and temperatures!
A simple guide to the local language:
1) “Off shore”- One of the communities just off “the island”, like Cape May Court House or Rio Grande. If you live “on the island”, it is a big event to “go off shore” for gas and groceries as needed.  Residents of Sea Isle City, Avalon, Stone Harbor, and the Wildwoods use the 2 phrases all the time. And each island is “the” island to those residents!
In addition to going off shore, the other destinations could be  “the mall” (it used to be the Shore Mall off exit 36, but now describes the Hamilton Mall in Mays Landing); or Philadelphia (anywhere remotely near the Walt Whitman Bridge).
2) Friends who live north of Atlantic City, live in “North Jersey” (which they obviously dispute- but you can’t convince us otherwise!). New York City is like another country.  Our forefathers emigrated to “the shore” from Philadelphia, so our allegiance goes back for generations. Go Eagles!
3) How do you identify a local? They know the tide schedule, and check the flags for wind direction to plan their activities accordingly. They walk or ride their bike whenever possible.  They cringe when they see a “newbie” trying to put an umbrella in the sand- and eventually walk over to help.  They secure their deck furniture and trash cans when “weather” is predicted.  And they are smiling as they walk along the beach- of course!
Easy living at the beach!
225 34th Street, Avalon
Modern 3 level townhouse style located just south of the popular shops and restaurants of downtown Avalon NJ.
2 blocks to a wide beach (lifeguards at 35th Street).
5 bedrooms, 4 full baths, 3 decks, 2 zone gas heat and central air. Â Updated and well maintained. Â Consistent summer vacation rental property with leases in place for summer 2018.
$989,000 furnished
To view the drone video: Â Click Here
To view the MLS fact sheet: Â Click Here
If you are walking the beach in the south end of Stone Harbor in the early morning hours, you are likely to pass a few of the lovely sisters on retreat at Villa Maria by the Sea.
My aunt was an IHM (order of the Immaculate Heart of Mary), so I’m a pro at spotting the nuns. Â This way I can be extra polite. Â You know…for my permanent record!
The clues: Â short hair, sensible sneakers, and often a “Nuns’ Beach” t-shirt or sweatshirt. Â Oh wait, I just described my beach walk look! Â That explains the friendly nods.
Also look for a plain Timex watch (seriously) and the occasional rosary.
The historic  building and grounds are beautiful- a grand Stone Harbor landmark since 1937.  AND the only beach block street lined with modest cars!
I attended an informative seminar this morning.
Thomas Fitzpatrick, CPA, from the local accounting firm of Fitzpatrick, Bongiovanni, and Kelly provided an overview of the laws (both new and unchanged) applicable to the shore real estate market.
A few key points:
1) The exclusion of gain on the sale of a principal residence did not change ($500,000/$250,000 depending on filing status). Must be owner occupied 2 of the past 5 years.
2) Mortgage interest deduction is now capped at $750,000 of debt. Â Current loans secured prior to 12/14/17 are grandfathered under the prior cap of $1,000,000. Home equity interest is no longer deductible.
3) Deduction for state and local property taxes is capped at $10,000 for primary and secondary homes. Â If a property is held as a rental, the property taxes are treated as an expense on schedule C of your tax return.
4) Capital gains rates remain the same. Depending on your income, the rate is 15% to 20% (plus 3.8% investment income tax).
5) The rules for a 1031 Tax Deferred Exchange (also called Like-Kind Exchanges) remain the same. Â An investment property (a rental) can be sold and replaced with another investment property; allowing the seller to defer the capital gains tax due to the IRS and State of New Jersey.
I am happy to help with additional information, or direct you to the appropriate tax professional.
Every season, the first tenants in a property discover the forgotten maintenance items.
Check before your first guest arrives:
1) Outside shower clean and water on
2) Outside hoses connected
3) Trash cans and lids accounted for (they often “escape” in the winter months)
4) Air conditioning units ready (breakers on, units uncovered, clean filters, etc.)
5) Hot water heater ready (breaker on, or dial turned from vacation mode to appropriate temperature)
6) Cable and Wi-fi functioning
7) Appliances clean and ready (run the washer and dishwasher through a cycle)
8) Screens in windows -check for needed repairs
9) Pillows and mattress pads clean (or replaced)
Happy summer!
Need a Beach Week?
Yes, there is still time to find a vacation rental for a week (or more!) this summer.
Search availability on our web site:  Tim Kerr Sotheby’s International Realty  and then contact me to discuss.
I am familiar with the inventory and locations, and happy to help select the best home for your needs.
ann.delaney@timkerrsir.com
609-967-7950
Thank you for your interest!