NAR: Home sales spike in November

NAR: Home sales spike in November


Sales rate of resale homes climbs 44% year-over-year

The sales pace for resale homes rose for the third straight month in November, climbing 44.1 compared to the same month last year, according to the National Association of Realtors

Sales reached a seasonally adjusted annual rate of 6.54 million, up 7.4 percent compared to October 2009. This rate is a projection of a monthly total over a 12-month period, adjusted to account for typical seasonal fluctuations in sales.

Regionally, the sales rate rose about 53.5 percent in the Midwest, 52.7 percent in the Northeast, 44.8 percent in the South and 28.1 percent in the West year-over-year in November

Real estate agents and brokers typically look forward to spring season when homebuyers come out in force, but In both Stone Harbor and Avalon, we have seen an uptick in sales over the last few months.

Make your move. 2010 looks good if you are a buyer or a seller.

Happy New Year!
Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate
 
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://http://www.nancymalexander.com// . I'd love to be your Realtor


View Stone Harbor Market Video http://realtytimes.com/REUv/NancyAlexander
 http://realtytimes.com/134/NancyAlexander

Stone Harbor Real Estate Sales December 5th to December 21, 2009

Stone Harbor Real Estate Activity Update for December 5th to December 21, 2009




There are currently 103 single family homes for sale in Stone Harbor, ranging in price from $399,000 for a two bedroom home on Weber Court to $6,500,000 for a new beach front home at #1 105th street.



Average list price is $2,140,444 and average time on market is 363 days.



There are five single family homes currently Under Contract in Stone Harbor.


1- 10408 Third Avenue, a 4 bedroom, 3 bath home on a 50x100 lot and listed at $ $1,595,000, goes to settlement on 1/8/2010


2-122 104th street, a 4 bedroom,4 bath home on a 50x110 lot listed for $1,599,000,goes to settlement 2/19/2010

3-127 84th street, a 5 bedroom,3 bath home on a 50x110 lot and listed for $2,000,000, goes to settlement 12/22/2009

4-144 108th street ,a 4 bedroom, 3 bath home on a 50x100 lot and listed at $2,290,000,goes to settlement 1/22/2010

5- 4 102nd street, a 5 bdroom,2 bath beach block home on a 50x110 lot and listed for $2,649,000,goes to settlement 1/8/2010

Two Stone Harbor Single Family Homes SOLD since December 5,2009


1--180 114th street, a 4 bedroom, 3 bath beach block home on a 60x110 lot, listed for $1,700,000,went to settlement 12/111/2009 and SOLD for $1,400,000
2- 210 118th street, a 5 bedroom, 5 bath home on a 60x110 lot and listed at $2,495,000 and went to settlement 12/11/2009 and SOLD for $2,200,000




Stone Harbor Condo/Townhouses Now For Sale



There are now 54 condos for sale in Stone Harbor ranging in price from $229,000 for 1 bedroom at 8305 Third Avenue to $1,299,000 for 13 93rd street
The average list price is $682,431 and average days on market is 312 days

There are now five condos Under Contract in Stone Harbor



1-162 96th street, a 1 bedroom, unit listed for $175,000 and goes to settlement 12/30/2009
2-10120 Third Avenue, listed at $194,500, goes to settlement 11/18/2009


3-235 99th street, a 1 bedroom,1 bath unit, listed for $319,000 goes to settlement 12/29/2009

4-351 96th street, a 2 bedroom,1 bath unit listed for $385,000 ,goes to settlement on 12/2009


5--259 104th street, a 3 bedroom,1.5 bath unit listed for $579,000,goes to settlement 12/30/2009



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.nancymalexander.com/ . I'd love to be your Realtor

View Stone Harbor Market Video http://realtytimes.com/REUv/NancyAlexander


Nancy's Newsletter http://realtytimes.com/130/NancyAlexander


Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate . Homes Sold December 5th to December 21st, 2009.

Avalon Real Estate Activity Single Family Homes and Condos Sold December 5th to December 21, 2009.


There are currently 203 single family homes for sale in Avalon



Average list price is $2,710,952 and average days on the market is 341 days.



These properties range in price from $499,000 for a two bedroom home at 138 29th street to a whopping $16,875,000 for a seven bedroom south Avalon beach front home on 75th street on a 120x110 lot.

There are Fourteen single family homes Now Under Contract in Avalon


1-156 9th street ,a 3 bedroom,1 bath home on a 50x110 lot and listed at $765,000,goes to settlement 1/31/2010



2-274 16th street, a 4 bedroom,2 bath home on a 50x110 lot and listed at $825,000,goes to settlement 1/23/2010.



3- 124 10th street, a 4 bedroom,2 bath home on a 50x110 lot and listed for $1,050,000 and goes to settlement 2/15/2010

4-73 W. 11th street, a 4 bedroom,2 bath home on a 50x110 lot, listed at $1,095,000goes to settlement on 12/29/2009

5-254 6th street, a 3 bedroom,1 bath home on a 50x110 lot listed for $1,095,000 is Under Contract after just 7 days on the market, and goes to settlement 10/31/2009


6-285 38th street, a 5 bedroom,4 bath home on a 50x110 lot and listed at $1,499,000,goes to settlement 1/11/2010


7-246 16th street, a 5 bedroom,4 bath home on a 50x110 lot listed for $1,550,000 goes to settlement 12/19/2009


8-242 6th street, a 5 bedroom,4 bath home on a 50x110 lot went Under Contract in just 7 days and goes to settlement 10/31/2009



9-154 36th street, a 5 bedroom,3 bath home on a 40x110 lot and listed for $1.949,000,goes to settlement 12/29/2009



10-2888 Ocean Drive, a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000, goes to settlement 3/1/2012



11 6329 Dune Drive, a 6 bedroom,6 bath beach block home listed at $1,999,999,goes to settlement 12/18/2009



12 225 75th street, a 7 bedroom,7 bath home on a 60x110 lot and listed at $2,149,00,goes to settlement 12/30/2009

13-56 E. 26th street, a 5 bedroom,2 bath home on a 65x110 lot and listed at $2,200,000,goes to settlement 2/5/2010


14-184 70th street, a 5 bedroom,5 bath beach block home on a 60x110- lot and listed at $3,995,000,goes to settlement 12/29/2009


Two Single Family Homes have SOLD in Avalon since December 5, 2009


1-4528 Ocean Drive, 4 bedroom,2 bath bay front home on a 60x250 lot and listed for $1,584,000,went to settlement 12/7/2009. SOLD for $1,750,000

2- -315 74th street, a 7 bedroom,2 bath bay front home on a 90x201 lot and listed for $3,800,000,went to settlement 12/17/2009 SOLD for $3,450,000

Avalon Condo/Townhouse Sales Activity December 5th to December 21, 2009


There are now 121 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,095,000 for a 4 bedroom, 3 bath unit at 65 E. 28th street



Average list price is $ 785,253, and the average days on market is 312 days.




There are Two condos in Avalon now Under Contract ranging in price from $635,000 to $ 1,290,000

Three Avalon condo/townhouses have SOLD since December 5 2009.

1-2160 Dune Drive, a 3 bedroom,3 bath unit listed for $699,000,SOLD 12/16/2009 for $650,000.

2-276 32nd street West, a 5 bedroom,3 bath unit listed for $749,000,SOLD 12/7/2009 for $725,000

3-261 27th street, a 4 bedroom,2.5 bath unit listed for $749,000,SOLD 12/18/2009 for $732,500

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 http://www.nancymalexander.com/    . I'd love to be your Realtor

View Stone Harbor Market Video http://realtytimes.com/REUv/NancyAlexander
  Nancy's Newsletter http://realtytimes.com/130/NancyAlexander






Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Home Buyer Tax Credit Extended, Expanded

Home Buyer Tax Credit Extended, Expanded


The extension of the first-time home buyer tax credit will help continue to clear out inventory, but expanding the credit to include more buyers may not be as helpful in high-cost housing areas.



President Barack Obama recently signed legislation that extends the deadline on the first-time home buyer tax credit and adds a smaller tax credit for move-up and other home buyers.



The extension and expansion gives home buyers a tax incentive to buy a home until at least April 30, 2010 -- April 30, 2011 for qualifying military personnel. The previous deadline was just weeks away, November 30, 2009.



"The extension of the first-time home buyer tax credit will be crucial to clearing out unsold inventory and especially the lagging bank owned inventory that has not even hit the market yet," said Kim DiBenedetto, president of the Monterey County Association of Realtors.



That's true of many housing markets.



"California Association of Realtor studies tell us that for more than 75 percent of home buyers this year, the tax credit was very important and more than 40 percent of the home buyers would not have been able to buy without the credit," added DiBenedetto.



The existing tax credit for first-time homebuyers remains at a maximum $8,000.



A new tax credit of up to $6,500 is available to qualifying existing homeowners who buy a new primary residence (or have one built) by April 30, 2010, if they owned their existing home for five consecutive years over the last eight years. Second homes don't qualify for the credit.



Home buyers have to repay the credit if they live in their primary residence less than 36 months and are not members of the military.



The new rule also raises the qualifying income limits to $125,000 for single taxpayers and $225,000 for joint taxpayers, from the current $75,000 and $150,000.



The maximum allowed home purchase price is $800,000, which won't be as useful to move-up buyers in high-cost areas.



"Part of the bill also expanded the credit to move up buyers, however, it may not be as helpful to the homeowners in our areas because there is a cap on the purchase price of $800,000, but we are grateful to anything that will help even a few," said DiBenedetto, a real estate agent in Carmel, California.



That's also true of high-cost markets nationwide.



Both first-time home buyers and others must contract to buy a home by April 30, but close escrow by June 30, 2010.



Buyers can claim the credit on their 2009 taxes, even if the purchase is made in 2010 by filing an amended return.



DiBenedetto said "This will also assist in selling the short sale inventory that those buyers were afraid to consider because of the time frame involved in closing them when they were on this deadline to close by the end of the month (November)."



Buyers who don't owe taxes can have the credit refunded to them as a rebate.



More information is available from the Internal Revenue Service (http://www.irs.gov), including a question and answer page.



It's all good news for the housing market.



The National Association of Realtors says as many as 400,000 resale transactions (1.2 million for both new and resale homes) were completed specifically because of the first-time home buyer tax credit, since it began, and that put a dent in the housing inventory.



Home sales also add property and sales tax revenues to the coffers of local governments as reduced inventory helps boost prices and home values.



The first-time home buyer tax credit's availability has coincided with mortgage rates often hanging below 5 percent, according to Jeff Howard, CEO of Erate.com.



As the November 30 tax credit deadline neared, reports from the Commerce Department, revealed new home sales slipped 3.6 percent in September and were down 7.8 percent from September 2008.



Tax credit history



As part of the Housing and Economic Recovery Act of 2008, Congress first created a $7,500 first-time home buyer tax credit for those who purchased a home between April 8, 2008, and July 1, 2009.



Later, under the American Recovery and Reinvestment Act of 2009, Congress extended the credit and raised it to an $8,000 tax credit for those who purchased homes by the November 30, 2009 expiration date.



By October 9, 2009, more than 1.2 million tax returns had claimed about $8.5 billion in the refundable tax credit, for both new and resale homes - according to the Treasury Inspector General for Tax Administration (TIGTA). A TIGTA audit also revealed last month that nearly 90,000 taxpayers -- including nearly 600 children -- may have fraudulently enjoyed the credit, hoodwinking the government out of more than $600 million.



The new legislation includes provisions to stifle fraud after the Internal Revenue Service identified 167 suspected criminal schemes and opened nearly 107,000 examinations of potential civil violations of the first-time homebuyer tax credit.



Cheating the IRS is a federal felony that comes with a fine of up to $250,000 and three years in a federal pen, or both. To combat fraud, a HUD-1 Settlement Statement will have to be attached to the tax return to secure the credit.





Written by Broderick Perkins

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.



I Love to talk Real Estate! Call my cell 609.425.7521

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 www.NancyMAlexander.com . I'd love to be your Realtor
View Stone Harbor Market Video http://realtytimes.com/REUv/NancyAlexander

Nancy's Newsletter http://realtytimes.com/130/NancyAlexander



Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate Activity Summary November 19 to December 5th, 2009.

Avalon Real Estate Sales November 19 to December 5th, 2009.




Avalon Real Estate Activity Summary November 19 to December 5th, 2009.

Avalon Real Estate Sales November 19 to December 5th, 2009.


There are currently 202 single family homes for sale in Avalon



Average list price is $2,734,051 and average days on the market is 331 days.



These properties range in price from $499,000 for a two bedroom home at 138 29th street to a whopping $16,875,000 for a seven bedroom south Avalon beach front home on 75th street on a 120x110 lot.



There are fifteen single family homes Now Under Contract in Avalon



1-156 9th street,a 3 bedroom,1 bath home on a 50x110 lot and listed at $765,000,goes to settlement 1/31/2010



2-274 16th street, a 4 bedrom,2 bath home on a 50x110 lot and listed at $825,000,goes to settlement 1/23/2010.



3- 124 10th street, a 4 bedroom,2 bath home on a 50x110 lot and listed for $1,050,000 and goes to settlement 2/15/2010.



4-73 W. 11th street, a 4 bedroom,2 bath home on a 50x110 lot, listed at $1,095,000goes to settlement on 12/29/2009

5-254 6th street, a 3 bedroom,1 bath home on a 50x110 lot listed for $1,095,000 is Under Contract after just 7 days on the market, and goes to settlement 10/31/2009



6-3764 Dune Drive, a 5 bedroom,4 bath home on a 50x110 lot listed for $1,495,000,goes to settlement on12/23/2009



7-246 16th street, a 5 bedroom,4 bath home on a 50x110 lot listed for $1,550,000 goes to settlement 12/19/2009



8-4528 Ocean Drive, 4 bedroom,2 bath bay front home on a 60x250 lot and listed for $1,584,000,goes to settlement 12/7/2009



9-242 6th street, a 5 bedroom,4 bath home on a 50x110 lot went Under Contract in just 7 days and goes to settlement 10/31/2009



10-154 36th street, a 5 bedroom,3 bath home on a 40x110 lot and listed for $1.949,000,goes to settlement 12/29/2009



11-2888 Ocean Drive, a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000, goes to settlement 3/1/2012



12 6329 Dune Drive, a 6 bedroom,6 bath beach block home listed at $1,999,999,goes to settlement 12/18/2009



13 225 75th street, a 7 bedroom,7 bath home on a 60x110 lot and listed at $2,149,00,goes to settlement 12/30/2009



14- -315 74th street, a 7 bedroom,2 bath bay front home on a 90x201 lot and listed for $3,800,000, goes to settlement 12/23/2009



15-184 70th street, a 5 bedoom,5 bath home on a 60x110 lot and listed at $3,995,000,goes to settlement 12/2009.


Eight Single Family Homes have SOLD in Avalon since November 19th, 2009


1- 559 22nd street, a 3 bedroom,1 bath home on a 40x100 lot and listed at $557,000, SOLD for $400,000 11/27/2009 after 979 days on the market.



2-264 14th street, a 3 bedroom,2 bath home on a 50x110 lot and listed for $769,000,SOLD for $755,000 on 11/2/2009



3-233 19th street, a 3 bedroom,1 bath home on a 60x110 lot ,listed for $895,000,and SOLD for $805,000 on 11/25/2009



4- 273 48th street, a 2 bedroom,1 bath home on a 60x110 lot and listed for $925,000,SOLD for $850,000 on 12/18/2009



7-388 22nd street, a 4 bedroom,2 bath home on a 40x130 lot listed for $1,395,000 SOLD for $1,325,000 11/30/2009





8- 4350 Fourth Avenue, a 4 bedroom,2 bath bay front home on a 60x250 lot listed for $2,299,000 SOLD 11/25/2009,for $2,050,000



13-150 38th street, a 5 bedroom, 4 bath home on a 70x110 lot and listed at $2,595,000 SOLD 11/20/2009 for $2,300,000



15-316 60th street, a 4 bedroom,3 bath, bay front home on a 90x156 lot listed for $4,295,000 SOLD on 11/23/2009 for $4,005,000


Avalon Condo/Townhouse Sales Activity November 19 to December 5th, 2009


There are now 124 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,095,000 for a 4 bedroom, 3 bath unit at 65 E. 28th street



Average list price is $ 792,111, and the average days on market is 315 days.





There are Twelve condos in Avalon now Under Contract ranging in price from $510,000 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

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

View Stone Harbor Market Video http://realtytimes.com/REUv/NancyAlexander



Nancy's Newsletter http://realtytimes.com/132/NancyAlexander





Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Should I Take My Home Off the Market During the Holidays?

Should I Take My Home Off the Market During the Holidays? 

     When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
      It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded with not enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?


read more here...


Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate