Inspired by a conversation with my neighbors yesterday about life on the island:
The distinct roar of a Ferrari…the sight of an Amish family riding bikes through town.
A classic Bentley…a vintage dune buggy with surf boards on top.
Smartly dressed patrons waiting for dinner reservations…the nuns waiting in line at Springers.
Incredible custom homes…original cedar shake cottages.
All of us drawn to salt water and sand…
A seven mile long barrier island with seven bridges…
South end Ocean Drive bridge toward North Wildwood (pictured)
104th Street – no boat traffic underneath…just the occasional kayaker 😉
96th Street
30th Street
25th Street
21st Street
North end Ocean Drive bridge toward Sea Isle City
We started off strong, yet we still have availability for prime summer vacation weeks!
Please pass the word if you have friends or family thinking about a last minute rental in Avalon or Stone Harbor NJ!
Tim Kerr’s Power Play Realty rental web site
I’m here to help.
Thanks!
ann@powerplayrealty.com
Avalon and Stone Harbor NJ
Market stats for the month of June:
A total of 35 properties sold (settled) in the month of June, including one commercial property at 33rd and Dune Drive for $235,000.
Otherwise, unusual to see the numbers split evenly for condo/townhouses and single family homes sold. Â Typically we sell more single homes because that’s the predominate style of property.
17 condo/townhouse style units sold, ranging from $256,683 for a 1 bedroom unit at Ocean View Condominiums 79th and Dune Drive, Avalon; to $775,000 for a 4 bedroom side by side style unit on 25th and Ocean Drive. Â The median selling price of all condo/townhouse style units:Â $585,000.
17 single family homes sold, ranging from $789,000 for a cottage style on 100th Street in Stone Harbor; to $4,500,000 for a custom bay front home on 42nd Street, Avalon. Â The median selling price of all single family homes:Â $1,950,000.
In addition, there are 81 properties sale pending, with settlements scheduled for the near future. Â The median list price of those sale pending:Â $1,399,000.
Real estate on the island continues to prove its value as a solid investment!
If you have any questions regarding sales in Avalon or Stone Harbor, I am here to help. Â ann@powerplayrealty.com
Thank you for your interest.
Island homes (and yards) are decorated and ready for the holiday!
Town is already busy! Â A bit quieter on the beach 🙂
Phones were beeping late Tuesday afternoon warning us of a possible tornado. Â Not a normal weather alert at the shore!
We watched the sky turn black, the wind pick up, and then torrential sideways rain. Â Crazy views from my office window.
Thankfully, it was a quick moving storm and caused mostly nuisance damage (deck furniture, awnings, trash cans, and a few trees). Â Minor street flooding drained within the hour.
I noticed a story circulating about a reverse tsunami (?) and a picture of beach damage. Â I believe the picture was ACTUALLY taken in January after winter storm Jonas. Â Beaches here are fine (beach picture taken Tuesday evening).
I attended a seminar this morning with important information regarding bay front ownership.
Some Riparian Grants issued between the late 1980s through the early 2000s have the following language:
“This grant is made upon the condition and limitation that there shall be no further filling of the presently flowed tidelands. Â If any filling does occur within the presently flowed tidelands herein granted, the title to the lands conveyed herein shall immediately and automatically revert to the ownership of the State of New Jersey, but without any diminution in the consideration paid upon the delivery of this instrument.”
When a property owner installs a new bulkhead (which typically extends out 24″ from the existing bulkhead based on current zoning), the State defines the added 24″ as  “filling”.  And YES, even if the required DEP and/or CAFRA permits were obtained.
The Department of Tidelands has a new regime, and this enforcement is viewed by attorneys and title company representatives as a method to generate revenue. Â Frustrating to say the least!
Bottom line: the State of New Jersey expects the land owner to “buy back” this filled area, even though a large sum of money was paid for the original Riparian Grant. Â
Unfortunately, the issue will not go away. Â Even if a bay front owner has no plans to sell, their heirs will eventually face the problem. Â And because the cost to resolve is based on the value of the land, it makes sense to remove the lien sooner rather than later.
Practical steps if you own a property on the bay:
1) Find your original title work (settlement papers). Â If a Riparian Grant was issued on the property, it will be attached.
2) Read the language in the grant- checking specially for the reverter clause referenced above (not necessarily in all grants).
3) If the reverter clause is in the grant, and you have installed a new bulkhead that sits out beyond the original bulkhead, it’s important to move forward with a resolution. Â A current survey will be needed to show the exact measurements of the new bulkhead, too.
A local title company and land use attorney can help you apply for a Statement of Non-Interest or a Confirmatory Grant from the State of New Jersey.
I am here to provide recommendations for experienced professionals, and answer any questions to the best of my ability.
After the Rain
Huge rainbow last evening. I hurried down to the beach in time to catch the the fading colors…