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Keeping Current Matters

Wednesday, April 29, 2009

Update of Stone Harbor Real Estate Activity for April 20th to April 29th, 2009





Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon
Stone Harbor Real Estate Market Activity Report for April 20th to April 29th,2009.


There are currently 118 single family homes currently for sale in Stone Harbor ranging in price from $475,000 for a two bedroom home on Weber Court to $5,990,000 for a beach front home on 97th street.

Seeing more evidence of Stone Harbor Consumer Confidence . More homes Under Contract recently than we have seen in a while.

There are seven single family homes currently Under Contract.
356 89th street, a 3 bedroom, 1 bath home listed for $990,000, went Under Contract on 10/9/2008 and goes to settlement 3/28/2009.This has been on market 434 days.

222 108th street listed at $998,000 goes to settlement 6/1/2009
100 108th street listed at $1,750,000 goes to settlement 6/8/2009
8626 First Avenue listed at $5,195,000 goes to settlement 5/15/2009
8726 Sunset Drive listed at $1,099,000 goes to settlement 6/1/2009
9911 Sunrise Drive listed at $2,495,000 goes to settlement 4/30/2009
8501 Pennsylvania Avenue listed at $3,695,000 goes to settlement 5/4/2009.
This is a Custom new 4 bedroom,3 bath home on a 55x110 lot and on market just 17 days .

8626 First Avenue, a 5 bedroom,3 bath Victorian home on a 110x110' beach block lot with pool is listed for $5,195,000 went Under Contract 2/27 and goes to settlement 5/15/2009. This has been on the market 281 days.

9911 Sunrise Drive is a 4 bedroom, 2 bath bay front home on a 95.9x110 lot listed for $2,495,000 .It has been on market 120 days and goes to settlement 4/30/2009

8726 Sunset Drive is a 4 bedroom,2 bath home on a 35x80 lot listed for $1,099,000 and goes to settlement 6/1/2009. It has been on market 239 days.


Stone Harbor NJ Condo Sale Activity April 20th to April 29th 2009


There are currently 65 Stone Harbor condos currently for sale ranging in price from $174,900 for an efficiency unit at 10120 Third Avenue up to $1,725,000 for a 5 bedroom, 3.5 bath townhome with pool at 261 89th street.

Average asking price is $722,048
Average Days on the market - 283 days

Three Condos are now Under Contract in Stone Harbor

A beach front condo 9600 First Avenue Unit #1 is now Under Contract after only 81 days on market. Listed for $845,000, and goes to settlement on May 15th .

A Carnival Bay unit at 10808 Sunset is Under Contract after 300 days on the market. Listed for $725,000,This goes to settlement May 9,2009

420 99th street,a 3 bedroom,1 bath unit which was listed at $445,000 went under Contract after only 33 days on the market. It goes to settlement 5/28/2009.


The data for this market report is based on statistics provided from the Cape May County MLS (private sales are not included)

Interest rates continue to be in the 5% range for conforming loans. 6% for loans over $417,000 and just like the "old days", lenders want verification of income to qualify for the loan, and good credit.

The overall price increase for properties in Stone Harbor and Avalon from 1998 to 2008 was 180.99%! This reflects an appreciation rate of 18.9% according to The Otteau Report .
With historically low mortgage rates and huge inventory and sellers willing to negotiate, buyers are jumping in realizing it does not get better than this.
If you are interested in purchasing a summer home, take advantage of the current market and send me an e-mail with your wish list. You'll be pleasantly surprised with the options available. There is something here now for everyone.
e~ mail me at Nancy@NancyMAlexander.com, or Call me! I love to talk Real Estate! Call my cell @ 609.425.7521

Please visit The Address For Luxury Real Estate and see Hundred of Stone Harbor and Avalon Rental & Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.
:

Avalon N.J. Real Estate Sales Activity Report for April 20 to April 27th, 2009


Avalon N.J. Real Estate Sales Activity Report for April 20 to April 27th, 2009

Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon.
Here is a summary of the Avalon Real Estate Market Activity April 20 to April 27.

There are currently 235 single family homes for sale in Avalon ranging in price from $549,000 for a two bedroom home at 667 22nd street to a whopping $16,875,000 for a seven bedroom south Avalon beach front home on 75th street.

There are Thirteen single family homes now Under Contract in Avalon.


314 76th street, a 4 bedroom,2 bath home on a 60x110 lot listed for $1,125,000 goes to settlement 5/1/2009

246 44th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,250,000 goes to settlement 4/25/2009

54 W. 26th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,395,000 goes to settlement (scheduled 4/4)

245 67th street, a 4 bedroom,3 bath home on a 60x110 lot and listed for $1,550,000 goes to settlement 5/6/2009

146 28th street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,595,000 and goes to settlement 5/16/2009

568 22nd street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 10/30/2009

118 22nd street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 4/24/2009

74 W. 11th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,750,000 goes to settlement 4/21/2009

53 W. 15th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,795,000 goes to settlement 5/2/2009

6799 Dune Drive,a 4 bedroom,4 bath home on a 65x110 lot and listed for $1,989,000 goes to settlement 5/29/2009

2888 Ocean Drive,a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement in 2012

693 Sunrise Drive,a 5 bedroom,4 bath home on a 60x130 lot and listed for $2,000,000 goes to settlement 5/14/2009

4618 Fifth Avenue,a 5 bedroom,3 bath home on a 60x155 lot goes to settlement 5/8/2009

3701 Dune Drive,a 6 bedroom,6 bath home on a 60x110 lot and listed for $2,795,000 goes to settlement 4/30/2009


SOLD
249 64th street, a 4 bedroom,2 bath home on a 60x110 lot which was listed at $1,025,000 SOLD 4/27/09 for $1,100,000 after only 31 days on the market.


Condo/Townhouse Avalon
There are now 141 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,200,000 for a beach front,4 bedroom,3 bath unit at 65 east 28th street

There are twelve condos in Avalon now Under Contract ranging in price from $305,000 to $1,399,000

The data for this market report is based on statistics provided from the Cape May County MLS (private sales are not included)

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521 or Direct 800.708.5792
Please visit The Address For Luxury Real Estate at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Wednesday, April 22, 2009

Washington Report: Appraisals to Change

Home mortgage and appraisal groups in Washington are in countdown mode: On May 1 the national rules for real estate appraisals will change dramatically -- at least for lenders who want to sell their loans to Fannie Mae and Freddie Mac.
Lenders will have to adopt what's known as the "HVCC" - the home valuation code of conduct - and guarantee that every loan they sell to Fannie or Freddie complies with the code completely.
So what's the big deal in that?

Well, among other changes, the new code will ban mortgage brokers from ordering appraisals, and will push much of the business to third-party appraisal management companies.

Those management firms, in turn, select appraisers from their own networks, leaving many of the appraisers who now do valuations for home purchases and refinancings out of the loop.

Management companies generally only deal with appraisers who'll work for much lower fees than they'd normally charge. Instead of earning $325 or $350, an appraiser working for a management company might only get $175. The management company pockets the rest.

In some cases, the new code might even raise the cost of appraisals to the consumer -- and change the timing of when consumers pay for them.

For example, Jeff Lipes, president of Family Choice Mortgage in Hartford, Connecticut, says one of his major wholesale lender clients has instructed him that because of the May 1 changeover, all "good faith estimates" provided to loan applicants must indicate a flat $455 fee for appraisals through its designated appraisal management company.

Also, borrowers will need to pay for them up front, before the work is performed, by credit card, debit card or electronic fund transfer. Lipes, a veteran mortgage broker, said up until now the standard fee was $325, and could be paid for by the consumer at closing.

Since Lipes will not be able to select from his long-established group of local appraisers as of May 1, if the management company's appraiser is unfamiliar with local market conditions and comes in with a value too low to support the home purchase or refi program the consumer needs, a new appraisal will need to be ordered -- and a second fee charged.

Mortgage groups are not enthusiastic about the May 1 changeover either, and the Appraisal Institute has been scathingly critical of the mandatory push to low-pay management companies.

But there's still one way to avoid the hassles associated with the May 1 changes: Switch to FHA financing, rather than conventional. FHA has its own long-standing appraisal rules, and doesn't plan to adopt Fannie's or Freddie's code.

By Kenneth R. Harney

Copyright © 2009 Realty Times. All Rights Reserved.


For more great Real Estate articles from my Realty Times Newsletter Click Here
http://realtytimes.com/125/NancyAlexander

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521
Please visit The Address For Luxury Real Estate at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Tuesday, April 21, 2009

Home Builders Optimistic About Turnaround In the Market!

Home Builders, the most depressed segment of the real estate industry are expressing optimism about a modest turnaround in the marketplace!
By Kenneth R. Harney

April 21, 2009

When home builders, the most depressed segment of the real estate industry, begin expressing optimism about a modest turnaround in the marketplace, maybe it's time for even the most dour doomsayers to listen.

Last week's home builders sentiment survey released by Wells Fargo and the National Association of Home Builders produced the single biggest monthly jump since 2003.

The survey focused on builders' perceptions of traffic at sales sites and expectations of sales in the coming six months, both were up sharply from the previous month.

Builders cited low prices, low interest rates, and the $8,000 federal home purchase tax credit as key reasons for their positive outlook.

Mortgage rates continued their decline into the upper 4 percent range last week -- averaging just 4.7 percent for 30-year fixed rate loans and 4.5 percent for 15 year money.

Some large builders have been sweetening those rates even more by "buying down" interest costs for purchasers to 3 percent or less, fixed for 30 years.

Of course, big improvements in traffic and sales projections do not necessarily mean that builders - or the real estate market as a whole -- are out of the woods.

To put the builders' sentiment survey into perspective: It's still far below the point where the builders themselves rate market conditions as "good." Most builders still rate their situations as "fair" to "poor." But they do see movement toward much better conditions ahead.

In that sense, home builders may be tuned into a much larger public perception change underway about the national economy. The Gallup polling organization's latest "Consumer Mood Index" rose sharply last week, and is now higher than it was at the same time last year.

Federal Reserve chairman Ben Bernanke expressed a similar, mildly optimistic view last week in public comments, as did President Obama.

Meanwhile, there's fresh evidence that, despite all the moaning and groaning about real estate being in the doldrums, there's a rising amount of business getting done. Wells Fargo reported a three billion dollar first quarter profit, much of it because of record results from its home mortgage operations.

Home sales in a number of hard-hit local areas continue to soar. In Orlando, Florida, for example, March sales were nearly 50 percent higher than March 2008.

And listing prices in major markets defied expectations by showing small monthly increases, according to a new report from Altos Research and Real IQ. In sixteen of the largest U.S. housing markets, according to the survey, listing prices were up by an average 1.1 percent.

Bottom line here: Think positive -- at least a little.


For more great Real Estate articles from my Realty Times Newsletter Click Here
http://realtytimes.com/125/NancyAlexander

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521 or Direct 800.708.5792
Please visit The Address For Luxury Real Estate at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Monday, April 20, 2009

Avalon New Jersey Sales Activity Report for April 12 to April 20th, 2009




Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon.
Here is a summary of the Avalon Real Estate Market Activity April 12 to April 20.

There are currently 227 single family homes for sale in Avalon ranging in price from $549,000 for a two bedroom home at 667 22nd street to a whopping $16,875,000 for a seven bedroom south Avalon beach front home on 75th street.

There are Fifteen single family homes now Under Contract in Avalon.
249 64th street , a 4 bedroom,2 bath home on a 60x 110 lot listed for $1,025,000 goes to settlement 4/27/2009.

314 76th street, a 4 bedroom,2 bath home on a 60x110 lot listed for $1,125,000 goes to settlement 5/1/2009

246 44th street,a 4 bedroom,3 bath home on a 50x110 lot listed for $1,250,000 goes to settlement 4/25/2009

54 W. 26th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,395,000 goes to settlement (scheduled 4/4)

25 67th street, a 4 bedroom,3 bath home on a 60x110 lot and listed for $1,550,000 goes to settlement 5/6/2009

146 28th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,595,000 and goes to settlement 5/16/2009

568 22nd street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 10/30/2009

118 22nd street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 4/24/2009

74 W. 11th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,750,000 goes to settlement 4/21/2009

53 W. 15th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,795,000 goes to settlement 5/2/2009

6799 Dune Drive,a 4 bedroom,4 bath home on a 65x110 lot and listed for $1,989,000 goes to settlement 5/29/2009

2888 Ocean Drive,a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement in 2012

693 Sunrise Drive,a 5 bedroom,4 bath home on a 60x130 lot and listed for $2,000,000 goes to settlement 5/14/2009

4618 Fifth Avenue,a 5 bedroom,3 bath home on a 60x155 lot goes to settlement 5/8/2009

3701 Dune Drive,a 6 bedroom,6 bath home on a 60x110 lot and listed for $2,795,000 goes to settlement 4/30/2009


SOLD
268 23rd street,a 5 bedroom 2 bath property listed for $739,000 SOLD on 4/15/2009 for $645,00

Condo/Townhouse Avalon
There are now 138 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,200,000 for a beach front,4 bedroom,3 bath unit at 65 east 28th street

There are nine condos in Avalon now Under Contract ranging in price from $305,000 to $1,399,000.
7929 Dune Drive, a one bedroom, one bath unit listed for $329,990,SOLD on 4/17/2009 over list for $357,128

The data for this market report is based on statistics provided from the Cape May County MLS (private sales are not included)

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521 or Direct 800.708.5792
Please visit The Address For Luxury Real Estate at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Update of Stone Harbor Real Estate Market Activity for April 12th to April 20th,2009


Update of Stone Harbor Real Estate Market Activity for April 12th to April 20th,2009

Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon
Stone Harbor Real Estate Market Activity Report for April 12th to April 20th,2009.


There are currently 116 homes currently for sale in Stone Harbor ranging in price from $475,000 for a two bedroom home on Weber Court to $5,990,000 for a beach front home on 97th street.

Stone Harbor Consumer Confidence is evident! More homes Under Contract recently than we have seen in a while.

There are six single family homes currently Under Contract.
356 89th street, a 3 bedroom, 1 bath home listed for $990,000, went Under Contract on 10/9/2008 and goes to settlement 3/28/2009.This has been on market 434 days.
4/20/2009. This has been on market 206 days
222 108th street listed at $998,000 goes to settlement 6/1/2009
100 108th street listed at $1,750,000 goes to settlement 6/8/2009
8626 First Avenue listed at $5,195,000 goes to settlement 5/15/2009
8726 Sunset Drive listed at $1,099,000 goes to settlement 6/1/2009
9911 Sunrise Drive listed at $2,495,000 goes to settlement 4/30/2009

8626 First Avenue, a 5 bedroom,3 bath Victorian home on a 110x110' beach block lot with pool is listed for $5,195,000 went Under Contract 2/27 and goes to settlement 5/15/2009. This has been on the market 281 days.

9911 Sunrise Drive is a 4 bedroom, 2 bath bay front home on a 95.9x110 lot listed for $2,495,000 .It has been on market 120 days and goes to settlement 4/30/2009

8726 Sunset Drive is a 4 bedroom,2 bath home on a 35x80 lot listed for $1,099,000 and goes to settlement 6/1/2009. It has been on market 239 days.

Stone Harbor Single Family Homes SOLD
165 93rd street, a 3 bedroom,2 bath home on a 50x110 lot , listed for $1,395,000 went Under Contract on 3/1/2009 went to settlement 4/20/2009 SOLD for $1,281,000 after 256 days on market
43 Weber Court, listed at $559,000 went to settlement 4/15/2009 SOLD for $508,000 after 58 days on market

Stone Harbor NJ Condo Sale Activity April 5th to April 12th 2009


There are currently 65 Stone Harbor condos currently for sale ranging in price from $174,900 for an efficiency unit at 10120 Third Avenue up to $1,725,000 for a 5 bedroom, 3.5 bath townhome with pool at 261 89th street.

Average asking price is $722,462
Average Days on the market - 283 days
Two Condos are now Under Contract in Stone Harbor

A beach front condo 9600 First Avenue Unit #1 is now Under Contract after only 81 days on market. Listed for $845,000, and goes to settlement on May 15th .
A Carnival Bay unit at 10808 Sunset is Under Contract after 300 days on the market. Listed for $725,000,This goes to settlement May 9,2009


The data for this market report is based on statistics provided from the Cape May County MLS (private sales are not included)

Interest rates continue to be in the 5% range for conforming loans. 6% for loans over $417,000 and just like the "old days", lenders want verification of income to qualify for the loan, and good credit.

The overall price increase for properties in Stone Harbor and Avalon from 1998 to 2008 was 180.99%! This reflects an appreciation rate of 18.9% according to The Otteau Report .
With historically low mortgage rates and huge inventory and sellers willing to negotiate, buyers are jumping in realizing it does not get better than this.
If you are interested in purchasing a summer home, take advantage of the current market and send me an e-mail with your wish list. You'll be pleasantly surprised with the options available. There is something here now for everyone.
e~mail me at Nancy@NancyMAlexander.com, or Call me! I love to talk Real Estate! Call my cell @ 609.425.7521 or Direct Line @ 800.708.5792

Please visit The Address For Luxury Real Estate and see Hundred of Stone Harbor and Avalon Rental & Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.
:

Great Article in The Washington Post with some good news on the housing market

Week April 20-24
Housing Data Could Signal If Bust Is Over
THURSDAY

Economy-watchers are searching for evidence that the housing market is starting to hit bottom. And in recent months, there has been some evidence that the end of the great housing bust may be near.
This week offers a reality check, with three key pieces of housing-related data coming out. But to interpret the data, it helps to realize that the end of the housing bust means different things, and could come at different times, depending on what data you consider.
Home sales will likely hit a bottom first -- and may have already done so. Data on existing home sales in March is scheduled to come out Thursday and new home sales on Friday. Both measures of housing activity picked up in February, a sign that between cheap foreclosed-on houses and low mortgage rates, the volume of sales may finally have stopped falling. This week's data will be a test of that thesis. Analysts are expecting a mixed bag, with new-home sales rising modestly but existing home sales falling a bit.
Whatever the March numbers say, there are good reasons to think that home sales will improve as the spring selling season gets underway. Anecdotal reports suggest that low mortgage rates and an $8,000 first-time home-buyer tax credit are coaxing buyers back into the market. And while foreclosures are set to rise as banks begin to move on delinquent homeowners, that actually could boost home sales as banks auction homes for whatever the market will bear.
The prospects are less promising for home prices, a report on which is set to come out Wednesday. Analysts expect the Federal Housing Finance Agency's price index to have fallen 0.6 percent. The new wave of foreclosures may help home sales activity but is likely to keep driving home prices down.
Time lags are another issue. Even if low rates and tax credits bring buyers back into the market, it could take months for that increased demand to meaningfully affect prices, simply because of the time it takes a person to go from deciding it's time to shop again to actually closing on a house.
NEIL IRWIN'S MUST-READS include lessons learned from the CEO of Goldman Sachs and 10 principles from professor Nassim Nicholas Taleb, author of "The Black Swan."

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521
Please visit The Address For Luxury Real Estate to see Hundreds of Stone Harbor and Avalon Rental and Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Tuesday, April 7, 2009

Avalon Sales Activity for the Weeks of March 29 to April 5th, 2009


Avalon New Jersey Sales Activity for the Weeks of March 29th to April 5th, 2009

Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon. Here is a summary of the Avalon Real Estate Market Activity.

There are currently 229 single family homes for sale in Avalon ranging in price from $549,000 for a two bedroom home at 667 22nd street to a whopping $16,875,000 for a seven bedroom south Avalon beach front home on 75th street.

There are thirteen single family homes now Under Contract in Avalon.

A 4 bedroom,3 bath bay front home at 6600 Ocean Drive which was listed for $1,989,000 SOLD 3/21/2009 for $1,700,000. This was on the market for 365 days.


Condo/Townhouse Avalon
There are now 138 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,200,000 for a beach front,4 bedroom,3 bath unit at 65 east 28th street

There are thirteen condos in Avalon now Under Contract ranging in price from $305,000 to $799,000.

A 4 bedroom,4 bath townhome at 502 20th street which was listed for $719,000 SOLD 3/21/2009 for $617,000. This was on the market for 570 days
.

The data for this market report is based on statistics provided from the Cape May County MLS (private sales are not included)

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521
Please visit The Address For Luxury Real Estate at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Stone Harbor Real Estate Market March 29 to April 5th 2009


Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon. Here is a summary of the Stone Harbor Real Estate Market Activity for March 29 to April 5th,2009.

There are currently 118 homes currently for sale in Stone Harbor ranging in price from $475,000 for a two bedroom home on Weber Court to $5,990,000 for a beach front home on 97th street.

There are six single family homes currently Under Contract.

356 89th street, a 3 bedroom, 1 bath home listed for $990,000, went Under Contract on 10/9/2008 and goes to settlement 3/28/2009.This has been on market 434 days.

165 93rd street, a 3 bedroom,2 bath home on a 50x110 lot , listed for $1,395,000 went Under Contract on 3/1/2009 goes to settlement 4/20/2009. This has been on market 206 days

43 Weber Court, listed at $559,000 goes to settlement 4/15/2009

222 108th street listed at $998,000 goes to settlement 6/1/2009

100 108th street listed at $1,750,000 goes to settlement 6/8/2009

8626 First Avenue listed at $5,195,000 goes to settlement 5/15/2009

8626 First Avenue, a 5 bedroom,3 bath Victorian home on a 110x110' beach block lot with pool is listed for $5,195,000 went Under Contract 2/27 and goes to settlement 5/15/2009. This has been on the market 281 days.

43 Weber Court, a two bedroom, one bath cottage listed for $559,000 went Under Contract same day it hit the market. it goes to settlement 3/31/2009

Stone Harbor NJ Condos – March 10 to March 29th 2009. Market Recap:

There are currently 64 Stone Harbor condos currently for sale ranging in price from $174,900 for an efficiency unit at 10120 Third Avenue up to $1,725,000 for a 5 bedroom,3.5 bath townhome with pool at 261 89th street.

Average asking price is $729,936
Average Days on the market - 277 days
A beach front condo 9600 First Avenue Unit #1 is Under Contract. Listed for $845,000,this goes to settlement on may 15th after 81 days on the market.

One two bedroom, one bath condo at 312 88th street which was listed for $399,000, SOLD 3/27/2009 for $351,120. This was on market for 256 days


The data for this market report is based on statistics provided from the Cape May County MLS (private sales are not included)

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

e~mail me at Nancy@NancyMAlexander.com, or Call me! I love to talk Real Estate! Call my cell 609.425.7521

Please visit The Address For Luxury Real Estate at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.
:

Wednesday, April 1, 2009

Five Ways to Wow Buyers






Here is excerpt from my April issue of Newsletter In Realty Times

These days, tax credits and high housing inventory make it a buyers' market. If you're a seller, don't despair. There are a variety of renovations that can help make your home stand out. Many buyers look at numerous homes when shopping for a house; so enhancing your home to make it more memorable is vital and increases the chances of a successful sale.

Clearing clutter, taking down personal photos, applying a fresh coat of paint, making minor repairs, and keeping a pleasant aroma are all basic techniques to make your home more appealing. But there are a few other creative enhancements that you can do to wow buyers without emptying your wallet. The results not only attract more attention, but also paint a picture of a well-cared-for home.

While not everyone has the same taste in housing, typically buyers are attracted to larger kitchens, extra storage space, light and bright rooms, and open floor plans. Special finishing touches on a home can be the needed incentive to generate an offer.

Kathy Gerstenberg has owned her home for nearly 20 years. Over the decades she's made many improvements but now she's considering selling and wants to make sure she gets top dollar in a down market. So, she's examining her home the way a buyer would.

"We live in a tract home and I know there are many homes for sale; we don't want ours to be seen as the same 'cookie-cutter' model as the others," says Gerstenberg.

With that in mind, Gerstenberg has carefully made enhancements that make her home more comfortable and aesthetically pleasing. "I wanted to do improvements that would catch a buyer's eye and also make it enjoyable for our family," says Gerstenberg.

As she scouts the market for her next home there are various aspects of a potential home that she notices right away. "I love crown molding and finished doors and windows," says Gerstenberg. She adds, "So many times builders just don't complete the look of a home but when you frame a door or window and add some crown molding to a room it gives it a finished look."

Industry experts agree; Americans are expected to spend $217 billion on remodeling in 2009. Here are five areas where homeowners may spend some of their remodeling money to add the "wow" factor to your home.

1. Go green. Energy efficient products and household goods are attractive to buyers. Renovations or replacements that help make the house more energy efficient are popular. Things such as better insulation, replacing old windows, caulking, and adding skylights can increase value.

2. Crown molding and wider baseboards. Some homeowners are shy to experiment with this, especially if they live in a small home, but it can be very attractive in any size home. Wider baseboard. The measly baseboard that builders often use in tract homes doesn't draw attention. Adding a wider baseboard and a fresh coat of paint makes the room come to life. Also, framing windows and doors helps complete the look of a room.

3. Textured paint. Faux finishes, accented walls, or even just a little fresh paint on them makes a lasting impression. Choose colors and textures wisely. Don't get carried away with a color you love (e.g. purple walls—I've seen it in a home for sale). Remember, that you want your home to appeal to the masses. You can always paint your new home purple—and then change it when it comes time to sell it!

4. Improved flooring. Wood, tile, and new carpet can be a showstopper. But if the flooring is chipped, torn, or dirty, you'll get the opposite reaction from buyers. They'll think your home hasn't been cared for properly which could result in a lower offer -- or no sale at all.

5. Add a deck. Adding a deck can add value to your home. It's a nice feature in a yard and many buyers are happy to purchase a home that already has a deck so that they don't have to take on that home improvement project.
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Written by Phoebe Chongchua Realty Times

Buying or Selling a home in Stone Harbor or Avalon, or if you need a Summer Rental, it would be my pleasure to help you with your Real Estate needs.

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