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Keeping Current Matters

Saturday, November 24, 2012

Stone Harbor Home with Multiple Offers .Our Offer Accepted! Woo Hoo !


Hope you are enjoying the long holiday weekend. With interest rates at historic lows and great properties  now for sale, now is truly an ideal time to be in the market for a home in Avalon and Stone Harbor N.J. We are seeing multiple offers for the first time in many years! We found out yesterday out of 4 or 5 offers OURS was accepted ! So excited for my Buyers.


A good reminder to us all that the buyer's market may be over...multiple offers are a sign of a strengthening market and pricing stability.


Find Us on Facebook! @https://facebook.com/NancyMAlexanderRealEstate
 You can reach me by email me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521. I return calls  immediately.












Saturday, November 17, 2012




Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Friday, November 16, 2012

Avalon Real Estate Sales Activity November 16, 2012 Market Update.



Great News!

The National Real Estate Market is improving every day indicated by consistent increases in home prices and  in home sales.
Stone Harbor sales volume shows ten straight months of sales increases when compared to the previous year.That’s real growth, and a strong indication of increasing stability and improvement in the local real estate market for 2013 and beyond

 And, more recently, CNN Money reported that Barclays Capital has forecast that home prices could be back to the peak levels of 2007 as soon as 2015. Barclays also predicts new home construction “will grow by at least 20% a year for the next two years.”



 Avalon Real Estate Sales Activity Market Update.


With the housing market close to a full recovery and as mortgage interest rates hover at historic lows, keeping an eye on new listings is very smart! Mortgage qualifying conditions sideline some buyers, but most are able to take advantage of the excellent affordability conditions today. There has Never been a better time to Buy!


Mortgage rates around 3.50 % continue to boost home affordability with the lowest rates on record. These rates are as close to the bottom as you can expect to get, and add to the urgency to buy your Stone Harbor or Avalon beach house NOW while these rates are at the bottom.

Each month, I provide the latest Avalon Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Avalon Real Estate Market before you buy or sell a home in Avalon.

If you would like similar statistics for a specific area, property type or price range, please send me an email at Nancy@NancyMAlexander.com and tell me how I can help. I can provide real estate market specifics for nearby communities regions around Avalon and Stone Harbor.


Single Family Homes Now For Sale in Avalon as of November 16, 2012


There are 158 single family homes now for sale in Avalon ranging in price from $549,000 to a Whopping $12,500,000!   Average days on the market = 296.


23 Single Family Homes in Avalon are Now Under Contract. These homes range in price from $449,900 to $6,995,000.


24 Single Family Homes in Avalon have SOLD and gone to settlement since September 16, 2012 These SOLD homes range in price from $595,000 to  $3,100,000

Average List Price Of Single Family property:$1,353,166
Average SOLD Price Of Single Family property: $1,229,125
Average Days on Market: 259 days


There are 81 Condo/townhouses currently for sale in Avalon ranging in price from $154,900 to $1,499,000

11 Condo/townhouses in Avalon Now Under Contract ranging in price from $289,000 to $995,000


10 Condo/townhouses in Avalon closed since September 16, 2012


Average List Price Of Avalon Condo : $798,000
Average SOLD Price Of Avalon Condo : $747,790
Average Days on Market 312 days

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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

 I get it . People don't like to be SOLD. People want to Buy. I  will provide you information on the homes you like. I'm always responsive but never pushy. No Hassle. No Pressure.


Find Us on Facebook! @ https://facebook.com/NancyMAlexanderRealEstate
 You can reach me by email me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521. I return calls  immediately.



Wednesday, November 14, 2012

Stone Harbor Real Estate Market Update November 14 , 2012


Stone Harbor Real Estate Market Update November 14 , 2012



As mortgage interest rates hover at historic lows, keeping an eye new listings is very smart!

 Mortgage rates around 3.50% continue to boost home affordability with the lowest rates on record. These rates are as close to the bottom as you can expect to get, and add to the urgency to buy your Stone Harbor or Avalon beach house NOW while these rates are at the bottom.




Each month, I provide the latest Stone Harbor Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Stone Harbor Real Estate Market before you buy or sell a home in the Stone Harbor area.



If you would like similar statistics for a specific area, property type or price range, please send me an email at  Nancy@NancyMAlexander.com  and tell me how I can help. I can provide Real Estate Market specifics for nearby communities regions around Avalon and Stone Harbor.

Important to understand you must price you property competitively from the very start and you will see immediate activity, and a contract!

Properties that are priced to sell are considered "in" the market. Properties that aren't are considered simply "on" the market.

Even in the hardest hit markets, there are still buyers, and they are looking for the most competitively priced properties in the best condition.

I help sellers price their homes so that they are "in" the market.

 I get it. People don't like to be SOLD. People want to BUY. I  will provide you information on the homes you like. I'm always responsive but never pushy.No Hassle. No Pressure!


Stone Harbor N.J. Real Estate Market  Sales Update as of November 14, 2012
Let's compare to last year. In the Entire year of 2011 there was a total of 59 single family homes SOLD in Stone Harbor with an average list price of $2,011,455 and an average SOLD price of $1,760,250.
 Average days on market in 2011 was 313 days
To date  November 17, 2012 there have been 71 single family home SOLD with 16 more now Under Contract!

Average List price $1,892,083
Average SOLD Price $1,653,634
Average Days on Market  = 330

 


Single Family Homes Now For Sale in Stone Harbor as of  November 14, 2012

There are now 87 single family homes for sale in Stone Harbor as of November 14, 2012. Inventory is shrinking as just last month there were 107 single family homes for sale   http://capemay.paragonrels.com/publink/default.aspx?GUID=b6f151b3-80d1-4434-a20f-982e9568394a&Report=Yes


Low list price: $ 425,000
High list price: $ 6,950,000
Average list price: $ 2,221,539
Average days on Market: 302



There are now 17 Single Family Stone Harbor Homes Now Under Contract with average list price of  $1,557,964
http://capemay.paragonrels.com/publink/default.aspx?GUID=58e4f852-50b8-4616-8617-59cf2cecc826&Report=Yes



Low list price: $ 449,000
High list price:  $2,499,000
Average list price:  1,157,964
Average days on Market408 days


16 single family homes SOLD in Stone Harbor since September 16, 2012.
http://capemay.paragonrels.com/publink/default.aspx?GUID=5d30860a-cfb1-49da-ad0a-0ff46b9845ac&Report=Yes


Average List price was $1,975,312
Average SOLD price was $1,732,003
Average days on market =  364 days


Stone Harbor Condo/Townhouse now For Sale, Under Contract and SOLD since September 16, 2012

There are now 60 Condo/townhouse properties for sale in Stone Harbor with an average list price of $611,174
http://capemay.paragonrels.com/publink/default.aspx?GUID=55641af0-0017-465d-8b8f-7c6d6acd33e3&Report=Yes

There are now 11 Condo/townhouses in Stone Harbor Now Under Contract. Average Days on Market =222
http://capemay.paragonrels.com/publink/default.aspx?GUID=4c5ab664-0e47-4a86-afe8-cc60ab42f5c8&Report=Yes

6 Condos in Stone Harbor SOLD since September 16 , 2012 with average list price of $629,582and average SOLD price of $568,750. Average days on market = 434 days
http://capemay.paragonrels.com/publink/default.aspx?GUID=c845b3d1-5531-402f-9d78-3536f86b12bb&Report=Yes

Average list price = $629,582
Average Sold Price =$568,750
Average days on market = 434



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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls immediately.



Find us on Facebook .
https://facebook.com/NancyMAlexanderRealEstate



Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Tuesday, October 9, 2012

Autumn is a Great Time to Sell In Avalon and Stone Harbor NJ!




Selling your home may be the biggest financial move you've ever made, one that requires an experienced agent . You want an agent to focus on not just the transaction , but to focus also on the the respect and confidence of the relationship she has established with you..

Find Us on Facebook @ https://facebook.com/NancyMAlexanderRealEstate You can reach me by email me at Nancy@NancyMAlexander.com or Call me! I can be reached during normal business hours  and I love to talk Real Estate! Call my cell 609.425.7521. I return calls  immediately


Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Sunday, September 16, 2012

Avalon Real Estate Sales Activity September 16, 2012 Market Update.

Avalon Real Estate Sales Activity Market Update.


September 16, 2012 



As mortgage interest rates hover at historic lows, keeping an eye on new listings is very smart !


Mortgage rates around 3.50 % continue to boost home affordability with the lowest rates on record. These rates are as close to the bottom as you can expect to get, and add to the urgency to buy your Stone Harbor or Avalon beach house NOW while these rates are at the bottom.


Each month, I provide the latest Avalon Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Avalon Real Estate Market before you buy or sell a home in Avalon.

If you would like similar statistics for a specific area, property type or price range, please send me an email at Nancy@NancyMAlexander.com and tell me how I can help. I can provide real estate market specifics for nearby communities regions around Avalon and Stone Harbor.


Single Family Homes Now For Sale in Avalon as of September 16, 2012



There are 163 single family homes now for sale in Avalon ranging in price from $469,900 to a Whopping $12,500,000!   Average days on the market = 272.

http://capemay.paragonrels.com/publink/default.aspx?GUID=fe1b034d-28ee-485d-ac3f-499ae9a2c9cd&Report=Yes


29 Single Family Homes in Avalon are Now Under Contract. These homes range in price from $595,000 to $2,500,000.

http://capemay.paragonrels.com/publink/default.aspx?GUID=8f5cc774-e97a-44b4-bfa5-bceda558889a&Report=Yes 

5 Single Family Homes in Avalon have SOLD and gone to settlement since August 22, 2012 . These SOLD homes range in price from $825000 to  $3,000,000

http://capemay.paragonrels.com/publink/default.aspx?GUID=dd4378b6-5719-4606-8920-149555f1161e&Report=Yes

Average List Price Of Single Family property:$1,819,800
Average SOLD Price Of Single Family property: $1,607,500
Average Days on Market: 326 days



There are 80 Condo/townhouses currently for sale in Avalon ranging in price from $154,900 to $1,499,000

http://capemay.paragonrels.com/publink/default.aspx?GUID=c8eda424-8c26-4bb3-b68a-07fbed74f001&Report=Yes


11 Condo/townhouses in Avalon Now Under Contract ranging in price from $565,000 to $1,525,000

http://capemay.paragonrels.com/publink/default.aspx?GUID=057a3d86-58b3-4dff-a126-c3da1054aa98&Report=Yes

7 Condo/townhouses in Avalon closed since August 22, 2012

http://capemay.paragonrels.com/publink/default.aspx?GUID=aa8911c1-9781-45a2-b13b-367c759f248e&Report=Yes

Average List Price Of Avalon Condo : $599,200
Average SOLD Price Of Avalon Condo : $573,842
Average Days on Market 190 days


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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

 I get it . People don't like to be SOLD. People want to Buy. I  will provide you information on the homes you like. I'm always responsive but never pushy. No Hassle. No Pressure.


Find Us on Facebook @ https://facebook.com/NancyMAlexanderRealEstate You can reach me by email me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521. I return calls  immediately.



Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Stone Harbor Real Estate Market Update September 16, 2012

Stone Harbor N.J. Real Estate Market Update

 September 16, 2012




As mortgage interest rates hover at historic lows, keeping an eye new listings is very smart!

Mortgage rates around 3.50% continue to boost home affordability with the lowest rates on record. These rates are as close to the bottom as you can expect to get, and add to the urgency to buy your Stone Harbor or Avalon beach house NOW while these rates are at the bottom.




Each month, I provide the latest Stone Harbor Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Stone Harbor Real Estate Market before you buy or sell a home in the Stone Harbor area.



If you would like similar statistics for a specific area, property type or price range, please send me an email Nancy@NancyMAlexander.com and tell me how I can help. I can provide Real Estate Market specifics for nearby communities regions around Avalon and Stone Harbor.

Important to understand you must price you property competitively from the very start and you will see immediate activity, and a contract!

Properties that are priced to sell are considered "in" the market. Properties that aren't are considered simply "on" the market.

Even in the hardest hit markets, there are still buyers, and they are looking for the most competitively priced properties in the best condition.

I help sellers price their homes so that they are "in" the market.

 I get it. People don't like to be SOLD. People want to BUY. I  will provide you information on the homes you like. I'm always responsive but never pushy.No Hassle. No Pressure!
  

Stone Harbor N.J. Real Estate Market  Sales Update as of September 16, 2012

Let's compare to last year. In the Entire year of 2011 there was a total of 59 single family homes SOLD in Stone Harbor with an average list price of $2,011,455 and an average SOLD price of $1,760,250.

 Average days on market in 2011 was 313 days


Since the first of this year, as of today, 9/16/2012, 51 single family homes have been SOLD in Stone Harbor with an average list price of $1,920,292, and average SOLD price of $1,668,450.
26 Stone Harbor single family homes are now Under Contract as of September 16, 2012 with and average list price of $1,546,223
 



107 Single Family homes were Sold in Avalon in 2011.


As of 9/16/2012, 82 single family homes have been SOLD in Avalon with an average list price of $1,724,559 and an average SOLD price of $1,596,986. Average days on market = 226 .
In Avalon another 29 single family homes are now Under Contract with an average list price of $1,568,137.




Single Family Homes Now For Sale in Stone Harbor as of September 16, 2012


There are now 97 single family homes for sale in Stone Harbor as of September 16, 2012. Inventory is shrinking as just last month there were 107 single family homes for sale  

http://capemay.paragonrels.com/publink/default.aspx?GUID=90b27914-c3a9-4d40-8364-cade2cccae0a&Report=Yes


Low list price: $ 425,000
High list price: $ 6,950,000
Average list price: $ 2,255,007
Average days on Market: 328




There are now 26 Single Family Stone Harbor Homes Now Under Contract with average list price of  $1,151,714

http://capemay.paragonrels.com/publink/default.aspx?GUID=5f292da3-efcd-4850-92e6-0ae06cc08009&Report=Yes




Low list price: $ 449,000
High list price:  $8,062,000
Average list price:  1,151,714
Average days on Market:  310 days



7 single family homes SOLD in Stone Harbor since August 22, 2012.

http://capemay.paragonrels.com/publink/default.aspx?GUID=7094c69c-cea8-4080-abdf-ca14af098c32&Report=Yes


Average List price was $1,151,714
Average SOLD price was $1,055,571
Average days on market =  309 days



Stone Harbor Condo/Townhouse now For Sale, Under Contract and SOLD since August 22, 2012


There are now 73 Condo/townhouse properties for sale in Stone Harbor with an average list price of $614,089

http://capemay.paragonrels.com/publink/default.aspx?GUID=e98077ae-c81f-44ef-88a3-3a6366c9b166&Report=Yes


There are now 7 Condo/townhouses in Stone Harbor Now Under Contract. Average Days on Market =296

http://capemay.paragonrels.com/publink/default.aspx?GUID=d074525c-8928-454a-a499-3538dcc9e1a9&Report=Yes

3 Condos in Stone Harbor SOLD since August 22 , 2012 with average list price of $611,333 and average SOLD price of $555,000. Average days on market = 242 days

http://capemay.paragonrels.com/publink/default.aspx?GUID=b4b4dc1f-6fc4-4421-a427-948f84778cf1&Report=Yes


Average list price = $649,128
Average Sold Price =$602,500
Average days on market = 295




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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls immediately.



Find us on Facebook .
https://facebook.com/NancyMAlexanderRealEstate



Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Avalon and Stone Harbor September Real Estate Market Update


Sales of existing homes have continued to improve.

NAR Chief Economist lawrence Yun be-believes that  aftordability conditions are very good for the housing market "Mortgage interest rates have been at record lows this year, while rents have been rising at faster rates. Combined, these factors are helping to unleash a pent-up demand." Yun said. "However, the
market is constrained by unnecessarv tight lending standards
and shrinking inventory supplies, so housing could easily be much stronger without these abnormal frictions

The urgency to buy now is increased with Mortgage rates at  3.50% ,  some of the lowest
rates on record since 1971 indicating rates have finally hit bottom...

While home sales grew 2.3 % from last  month , year-over- year sales increased 10.4.%.  According to the National Association of Realtors, existing home sales rose in July with the national median sales price reaching five consecutive months of year-aver-year
growth

The median home price fell 1 from last month, but rose 9.4 compared to a year ago to $187,300. This marks the fifth consecutive month of year-over-year price gains, which has not been seen since  the period January to May 2006. July's gains are the most robust since January of 2006 when median home prices rose 10.2 % from 2005.

Housing inventory increased 1..3 % in July to 2.4 million homes avaiiable for sale, a 6.4-month supply. This marks the eighth consecutive month of inventory at a 6- month supply which is the threshold for a balanced market, giving both buyers and sellers an equal advantage. As supply continues to hold steady at more balanced levels, so does the idea that the housing market is moving closer-to a full scale recovery




Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Thursday, September 13, 2012

The Reeds at Shelter Haven Stone Harbor, New Jersey

 Can not wait until The Reeds at Shelter Haven opens this summer!

The Reeds at Shelter Haven


Explore our new website! While anticipation for The Reeds at Shelter Haven’s 2013 summer opening continues to grow … we are thrilled to unveil our newly expanded website - giving you an opportunity to preview the impressive luxury boutique hotel and destination resort we are building.
www.reedsatshelterhaven.com



Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Friday, August 24, 2012

Still Waiting To Buy In Stone Harbor or Avalon?




















Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Thursday, August 23, 2012

Rates are Beginning To Move Higher ! Buy Your Stone Harbor Avalon Summer Home Now!

This marks the fourth straight week of fixed mortgage rates gradually moving higher. Here are the weekly mortgage results as of Aug 23, 2012.

30-yr. fixed: 3.66% (up from 3.62% on Aug 16)

15-yr. fixed: 2.89% (up from 2.88% on Aug 16)

1-yr. adjustable: 2.66% (up 2.69% on Aug 16)

(Source: Freddie Mac- www.freddiemac.com)

Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

SO True! Best Time To Buy your Stone Harbor or Avalon Beach House Is NOW !




Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Wednesday, August 22, 2012

Stone Harbor Sales Activity Update August 22, 2012




Stone Harbor Sales Activity Update August 22, 2012



As mortgage interest rates hover at historic lows, keeping an eye new listings is very smart!

Mortgage rates around 3.75% continue to boost home affordability with the lowest rates on record. These rates are as close to the bottom as you can expect to get, and add to the urgency to buy your Stone Harbor or Avalon beach house NOW while these rates are at the bottom.

 

 
Each month, I provide the latest Stone Harbor Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Stone Harbor Real Estate Market before you buy or sell a home in the Stone Harbor area.

 

If you would like similar statistics for a specific area, property type or price range, please send me an email Nancy@NancyMAlexander.com and tell me how I can help. I can provide Real Estate Market specifics for nearby communities regions around Avalon and Stone Harbor.

Important to understand you must price you property competitively from the very start and you will see immediate activity, and a contract!

Properties that are priced to sell are considered "in" the market. Properties that aren't are considered simply "on" the market.

Even in the hardest hit markets, there are still buyers, and they are looking for the most competitively priced properties in the best condition.

I help sellers price their homes so that they are "in" the market.  

 I get it. People don't like to be Sold. People want to Buy. I  will provide you information on the homes you like. I'm always responsive but never pushy
 

Let's compare to last year. In Entire year of 2011 there were 58 single family homes Sold in Stone Harbor
107 single family homes were Sold in Avalon in 2011.

 

Since the first of this year, 43 single family homes have been SOLD in Stone Harbor with an average list price of $2,057,532, and average SOLD price of $1,777,953.

77 single family homes have been SOLD in Avalon with an average list price of $1,718,375 and an average SOLD price of $1,596,304. Average days on market = 220

And in Stone Harbor, another 22 single family homes are now Under Contract as of August 22, 2012

In Avalon another 30 single family homes are now Under Contract.





Single Family Homes Now For Sale in Stone Harbor as of August 22, 2012


There are now 107 single family homes for sale in Stone Harbor as of August 22, 2012

http://capemay.paragonrels.com/publink/default.aspx?GUID=e0eff9aa-0da2-4dca-b331-b0c591644208&Report=Yes



Low list price: $ 425,000

High list price: $ 6,950,000

Average list price: $ 2,255,007

Average days on Market: 328




There are now 22 Single Family Stone Harbor Homes Now Under Contract

http://capemay.paragonrels.com/publink/default.aspx?GUID=75d1829d-9fa2-414c-b0af-7fa41ee67966&Report=Yes





Low list price: $ 449,000

High list price: $ 6,200,000

Average list price: $ 1,605,272

Average days on Market: 352 days


14 single family homes SOLD in Stone Harbor since July 1, 2012.

http://capemay.paragonrels.com/publink/default.aspx?GUID=7a008ffc-94b2-4c01-85d7-591a43d09293&Report=Yes





Average List price was $1,947,285

Average SOLD price was $1,742,750

Average days on market = 244 days


Stone Harbor Condo/Townhouse now For Sale, Under Contract and SOLD since July 1, 2012

There are now 76 Condo/townhouse properties for sale in Stone Harbor

http://capemay.paragonrels.com/publink/default.aspx?GUID=ae220d45-0447-40b6-8886-5cad252bbca9&Report=Yes


Average Days on Market =308
There are now 6Condo/townhouses in Stone Harbor Now Under Contract

http://capemay.paragonrels.com/publink/default.aspx?GUID=438edbe8-0483-469a-9d52-6ac4580d8c32&Report=Yes

7 Condos in Stone Harbor SOLD since July 1 to August 22 , 2012

http://capemay.paragonrels.com/publink/default.aspx?GUID=24da27f5-2fb5-47ef-81bd-880b74636a57&Report=Yes



Average list price = $649,128

Average Sold Price =$602,500

Average days on market = 295



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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

You can reach me by e~mail me at
Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls immediately.



Find us on Facebook .

https://facebook.com/NancyMAlexanderRealEstate


Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate Sales Activity August 22, 2012 Market Update

Avalon Real Estate Sales Activity August 22, 2012 Market Update.


As mortgage interest rates hover at historic lows, keeping an eye on new listings is very smart !

Mortgage rates around 3.75% continue to boost home affordability with the lowest rates on record. These rates are as close to the bottom as you can expect to get, and add to the urgency to buy your Stone Harbor or Avalon beach house NOW while these rates are at the bottom.

Each month, I provide the latest Avalon Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Avalon Real Estate Market before you buy or sell a home in Avalon.

If you would like similar statistics for a specific area, property type or price range, please send me an email at Nancy@NancyMAlexander.com and tell me how I can help. I can provide real estate market specifics for nearby communities regions around Avalon and Stone Harbor.


Single Family Homes Now For Sale in Avalon as of August 22, 2012


There are 153 single family homes now for sale in Avalon ranging in price from $469,900 to a Whopping $12,500,000! @92 days average days on the market.
http://capemay.paragonrels.com/publink/default.aspx?GUID=62131ba5-2cc3-4e21-adb3-6c2a00aef968&Report=Yes


30 Single Family Homes in Avalon are Now Under Contract. These homes range in price from $595,000 to $3,999,000.
http://capemay.paragonrels.com/publink/default.aspx?GUID=e7091782-8362-4c16-9d06-25d63e357c4c&Report=Yes

9 Single Family Homes in Avalon have SOLD and gone to settlement since July 1, 2012 . These SOLD homes range in price from $775,000 to  $3,000,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=df548d29-217b-4c60-aede-9a0c74692864&Report=Yes

Average List Price Of Single Family property:$1,882,555
Average SOLD Price Of Single Family property: $1,761,761
Average Days on Market: 289 days


There are 83 Condo/townhouses currently for sale in Avalon ranging in price from $154,900 to $1,525,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=fcc892ca-c184-4356-abfd-373b5ac97a17&Report=Yes

14 Condo/townhouses in Avalon Now Under Contract ranging in price from $179,500 to $1,525,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=85ca09e0-bf1b-4790-ab76-62080b420117&Report=Yes

12 Condo/townhouses in Avalon closed since July 1, 2012
http://capemay.paragonrels.com/publink/default.aspx?GUID=19ae36b8-afae-4c88-a21d-63f32e42a1a2&Report=Yes


Average List Price Of Avalon Condo : $746,891
Average SOLD Price Of Avalon Condo : $703,750
Average Days on Market 283 days

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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

 I get it . People don't like to be Sold. People want to Buy. I  will provide you information on the homes you like. I'm always responsive but never pushy


Join my Facebook Page:https://facebook.com/NancyMAlexanderRealEstate You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521. I return calls  immediately.







Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Tuesday, August 14, 2012

Stone Harbor.Under Contract in 19 days! .SOLD and Settled in 30 days! BOOM! Blink and you Missed it !

Happy Buyers, Happy Seller, Happy Realtors!
9200 First Avenue, Stone Harbor, NJ. Listed at $3,295,000















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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!

Call my cell 609.425.7521.


Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Saturday, August 11, 2012

August 2012 Real Estate Update Newsletter Nancy Alexander



Sunny Forecast For The Real Estate Market, Optimism Growing Among Some
The real estate market has had an ominous cloud looming for a long while with sunshine trying to break through. Now, according to a recently released second quarter survey by HomeGain, optimism is growing and a sunnier forecast is anticipated by some.
The survey results are taken from a pool of more than 400 agents and brokers and 1,700 homeowners. Perhaps not surprisingly the optimism is a bit unequal. Regarding the general direction of home values, about 48 percent of industry professionals expect home values to increase compared to only 27 percent of homeowners. However both percentage figures are up from first quarter 2012.
The outlook for the next two years? The forecast, according to the belief of those surveyed, gets even better. Real estate professionals (82 percent) and homeowners (59 percent), both believe home values will increase in the next couple of years. However, a small percentage group, 6 percent of real estate professionals and 15 percent of homeowners, think the exact opposite.
Meanwhile, 14 percent of industry professionals are warning to prepare for yet another decrease in home values. The percentage shoots up to 24 percent of homeowners who agree with this prediction.
Forecasting no change: 38 percent of real estate professionals and 49 percent of homeowners expect home values to remain the same over the next six months.
In a press statement, Louis Cammarosano, General Manager of HomeGain said, "Optimism among real estate professionals spiked in the second quarter. Real estate professionals are optimistic about home prices in the short term and especially optimistic in the coming two years with 82 percent of real estate professionals and 59 percent of homeowners expecting prices to rise."
But where are these anticipated increases in home values expected? The survey results show expected increases are scattered throughout the country. Here are the lists of the top 10 states where home values are expected to increase in the next six months, according to real estate professionals and homeowners.
Real estate professionals expect increases in home values in the next six months: Virginia, Arizona, Colorado, California, Texas, Florida, Massachusetts, Ohio, New York, and Georgia.
Homeowners expect increases in home values in the next six months in: Arizona, Colorado, Oregon, Texas, Pennsylvania, Virginia, Maryland, Washington, Florida, North Carolina.
As for declining home values in the next six months, real estate professionals expect the following top 10 states to get hit hardest in this order: Pennsylvania, Ohio, New York, Georgia, Maryland, Florida, Colorado, Virginia, Texas, and California.
Homeowners think the top 10 states to experience a decline in home values in the next six months will look like this: Illinois, North Carolina, California, Oregon, Georgia, New Jersey, New York, Maryland, Pennsylvania, and Florida.
Breaking down the information. If you're planning to sell your home, be sure to showcase your home's features. As buyer confidence builds in the real estate market, it's important as a seller to think like a potential buyer would. See your home from a buyer's perspective. Before you put your home on the market make it as "buyer-focused" as possible which means the following things should be implemented: de-cluttering, maintenance repair, home staging, and curb appeal. The more you make your home "buyer-focused" the greater the chances of a faster and higher priced sale. For more information read my column " Buyers Want Move-In Ready Homes. " 

Written by Phoebe Chongchua
Below is entire August Newsletter
http://realtytimes.com/165/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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

You can reach me by e~mail me at
Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls and e-mails within hours, usually in just minutes!


Please Join my Facebook Page:
https://facebook.com/NancyMAlexanderRealEstate





Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Wednesday, July 4, 2012

July 2012 Real Estate Update Newsletter

July 2012 Real Estate Update Newsletter


Getting an Offer

Have you ever wondered what it takes to get more showings and to finally seal the deal? If your home has been lingering on the market for months, you might be asking yourself just that question.

This question is more than just idle curiosity. When and how quickly you sell your home can mean the difference between buying the dream home before it's scooped up and carrying two mortgages.

There is an old adage used in real estate that says, "location, location, location." While location is important for certain reasons (close to schools, crime levels, neighborhood appearance), there is something far more important when it comes to making a deal. The new adage should be "price, price, price."

You can sell any home if it's priced to sell. Pricing right is about more than just pricing along with the competition. Sometimes it means listing at a lower price to make your home more attractive. Of course no one is willing to let someone just walk away with their home, but in a strong buyers market like we have today, you must be realistic about what price will truly entice a buyer.

Experts say that if you overprice a home at the start, you're making a big mistake. Buyers look for new listings. They'll pass right over your home if it doesn't compare to the competition. They could also see your price reduction later on as a sign that you are willing to go even lower on your price.

This is not to say you shouldn't do a price reduction. If you already have your home on the market then you should consider if a price reduction will bring in buyers. An overpriced home will never sell in today's market. There are simply too many other good deals out there.

This means you need to price your home at the bottom end of what is a realistic price for your market and for you.

Aside from price, there are also a few other issues that you, the seller, need to consider.

First, you should be willing to accommodate buyers with showings. This means if they want to come during an evening or weekend you should be flexible! Your prospective buyers may have difficult schedules, but today's market means you have to work with a buyer, making showings easy and convenient for them.

Next, stage your home. Before you have a single showing you must be sure to take the proper steps in staging. A messy, dirty, or cluttered home will turn off many buyers. They will see your home for its problems instead of its potential.

Finally, have a financial game plan ahead of time. This means knowing what sort of offers you are willing to accept and not. Buyers don't like to sit around for days awaiting your response. What is your true bottom line?

Selling your home in a strong buyers market is full of its challenges to be sure, but getting an offer and closing the deal in today's market is possible. Just be sure to price your home correctly!


Written by Carla Hill

Below is entire July Newsletter

http://realtytimes.com/164/NancyAlexander


Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Sunday, July 1, 2012

Stone Harbor Sales Activity Update July 1, 2012

Stone Harbor Sales Activity Update July 1, 2012


Each month, I provide the latest Stone Harbor Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Stone Harbor Real Estate Market before you buy or sell a home in the Stone Harbor area.


If you would like similar statistics for a specific area, property type or price range, please send me an email Nancy@NancyMAlexander.com and tell me how I can help. I can provide Real Estate Market specifics for nearby communities regions around Avalon and Stone Harbor.


 .

Let's compare to last year. In Entire year of 2011 there were 58 single family homes  Sold in Stone Harbor
107 single family homes were Sold in Avalon


Since the first of this year, 29 single family homes have been SOLD in Stone Harbor with an average list price of $2,110,755, and average SOLD price of $1,794,948.

67 single family homes have been SOLD in Avalon with an average list price of $1,726,535 and an average SOLD price of $1,604,715. Average days on market = 198

And in Stone Harbor, another 15 single family homes are now Under Contract as of July 1, 2012
In Avalon another 16 single family homes are now under Contract.



Single Family Homes Now For Sale in Stone Harbor as of July 1, 2012

There are now 117 single family homes for sale in Stone Harbor as of July1, 2012
http://capemay.paragonrels.com/publink/default.aspx?GUID=e0eff9aa-0da2-4dca-b331-b0c591644208&Report=Yes


Low list price: $ 289,000

High list price: $ 6,950,000

Average list price: $ 2,114,681

Average days on Market: 296



There are now 15 Single Family Stone Harbor Homes Now Under Contract
http://capemay.paragonrels.com/publink/default.aspx?GUID=75d1829d-9fa2-414c-b0af-7fa41ee67966&Report=Yes



Low list price: $ 650,000
High list price: $ 6,200,000
Average list price: $ 2,023,933

Average days on Market: 313 days

Ten single family homes SOLD in Stone Harbor since May 15, 2012.
http://capemay.paragonrels.com/publink/default.aspx?GUID=7a008ffc-94b2-4c01-85d7-591a43d09293&Report=Yes



Average List price was $1,244,400

Average SOLD price was $1,059,800

Average days on market = 135 days

Stone Harbor Condo/Townhouse now For Sale, Under Contract and SOLD since May 15, 2012

There are now 71 Condo/townhouse properties for sale in Stone Harbor ranging in price from $214,900 to $1,125,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=46552684-22a6-4cff-ab1f-c7b27252d302&Report=Yes


Average Days on Market =308

There are now 9 Condo/townhouses in Stone Harbor Now Under Contract
http://capemay.paragonrels.com/publink/default.aspx?GUID=273d9c16-46e5-4a6b-84b3-d0e39fba1838&Report=Yes

Average list price = $819,222
Average days on market =149

Four Condos in Stone Harbor SOLD since May 15 to July 1 ,2012
http://capemay.paragonrels.com/publink/default.aspx?GUID=059f80a5-53e8-4527-82b1-d977200c2343&Report=Yes



Average list price = $571,500
Average Sold Price =$533,750
Average days on market = 260


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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?

You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls and e-mails within hours, usually in just minutes!


Please Join my Facebook Page:
https://facebook.com/NancyMAlexanderRealEstate 





Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate Sales Activity July 1, 2012 Market Update

Avalon Real Estate Sales Activity July 1, 2012


Each month, I provide the latest Avalon Real Estate market sales statistics based on data from the Cape May County MLS. These Monthly Market Reports are intended to share sales information to help you can make an informed decision about the Avalon Real Estate Market before you buy or sell a home in Avalon
If you would like similar statistics for a specific area, property type or price range, please send me an email at Nancy@NancyMAlexander.com and tell me how I can help. I can provide real estate market specifics for nearby communities regions around Avalon and Stone Harbor.


Single Family Homes Now For Sale in Avalon as of July 1, 2012


There are 160 single family homes now for sale in Avalon ranging in price from $479,900 to a Whopping $12,500,000!
http://capemay.paragonrels.com/publink/default.aspx?GUID=e8106b35-86e4-4c5a-9818-a321879b0b11&Report=Yes


16 Single Family Homes in Avalon are Now Under Contract. These homes range in price from $775,000 to $3,400,000.
http://capemay.paragonrels.com/publink/default.aspx?GUID=647edfd9-800f-4b52-8cff-e56bd415d7ec&Report=Yes

21 Single Family Homes in Avalon have SOLD and gone to settlement since May15, 2012 . These SOLD homes range in price from $780,000 to  $4,000,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=4d7faca4-e6c3-457d-9e34-8145f86dc5ce&Report=Yes

Average List Price Of Single Family property:$1,871,804
Average SOLD Price Of Single Family property: $1,761,761
Average Days on Market: 168 days


There are 87 Condo/townhouses currently for sale in Avalon ranging in price from $154,000 to $1,499,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=a0749121-8d01-4c42-9a71-2d5a01d7ef82&Report=Yes


13 Condo/townhouses in Avalon Now Under Contract ranging in price from $425,000 to $1,525,000
http://capemay.paragonrels.com/publink/default.aspx?GUID=745d6202-41dd-4c84-be9d-5e1291bf803b&Report=Yes

11 Condo/townhouses in Avalon closed since May 15, 2012
http://capemay.paragonrels.com/publink/default.aspx?GUID=65cced8d-378b-4574-b461-036f6face2ef&Report=Yes



Average List Price Of Avalon Condo : $702,899
Average SOLD Price Of Avalon Condo : $676,560
Average Days on Market: 301 days

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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours?


Join my Facebook Page:https://facebook.com/NancyMAlexanderRealEstate You can reach me by e~mail me at Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate! Call my cell 609.425.7521. I return calls and e-mails within hours, usually in just minutes!







Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Wednesday, June 20, 2012

Maintain Your Vacation Home


  Maintain Your Vacation Home

By: Donna Fuscaldo


Plan to spend time and money to maintain your vacation home, no matter if you hire a property manager or local caretaker, or do the work yourself.

Property managers: Convenience at a price

Hiring a property management company for your vacation home can be costly, but it can save a lot of effort (and headaches) on your part. A property manager can open and close your vacation home, and screen and hire a staff to make sure your house is well-maintained inside and out. If you plan to rent out your vacation home, a property manager can advertise the rental, check in guests, and handle payments.

A property manager acts as your eyes and ears, doing regular drive-bys and responding in emergencies. This is especially important if you live far from your vacation home. Ask owners of nearby vacation homes for referrals. Membership in a trade group like the Vacation Rental Managers Association adds to credibility.

Property managers don't come cheap. According to Christine Karpinski of HomeAway, a vacation rental website, property managers typically get 20% to 60% of the rental income from your vacation home. So if your ski chalet rents for $1,000 per week, expect to hand over anywhere from $200 to $600 of that income to the property manager.

Local caretakers can be cheaper

A cheaper alternative to a property manager, especially if you don't plan to rent out the house or will handle rentals yourself, is hiring a local housecleaner or handyman to maintain your vacation home. Again, other homeowners are the best source for referrals. Even during the offseason, it's a good idea to have someone local who can go to the house once a month to turn on faucets, flush toilets, and inspect for damage.

How much you pay will vary by location and the nature of the caretaking tasks. A recent survey of cleaning fees put the cost between $69 for a 1-bedroom home and $199 for a 6-bedroom. A rule of thumb for calculating cleaning fees is to multiply the number of bedrooms and bathrooms combined by $20.

Since you're entrusting cleaners and handymen to go in and out of your home unsupervised, check references and ask for proof that they're bonded and insured. A fee-free option is to rely on a neighbor. Work out an arrangement to check on each other's properties regularly, rather than hiring someone.

Prepare for maintenance emergencies

Preventive home maintenance reduces the likelihood of emergencies, but a pipe is bound to burst eventually. As the owner of a vacation home, especially one that's hundreds of miles away, the most important thing you can do is be prepared for the inevitable.

If you don't have a property manager, caretaker, or year-round neighbor you can call, at least have a list of local repair companies at your fingertips. Invest three or four hours into assembling a list of plumbers, electricians, exterminators, and the like. Ask other homeowners for recommendations, or, if too few are forthcoming, turn to a service like Angie's List or even the phone book.

Having a keyless entry system for your vacation home is critical in the event of an emergency. A basic touchpad model costs less than $100. You can give the code to a repairman over the phone. A wireless system, which allows you to use a computer or cellphone to change the entry code, can cost three times that amount plus a monthly service fee of perhaps $10 to $15.

"Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®."

http://www.houselogic.com/.


Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Saturday, June 16, 2012

Opening and Closing a Vacation Home



Opening and Closing a Vacation Home

By: Donna Fuscaldo HouseLogic.com 

Don't neglect to budget time and money for opening and closing a vacation home before the season starts and after it ends.

Opening a vacation home

When it's time to visit your vacation home for the first time, or start renting it out for the season, you'll need to get it ready. A ski chalet might require you to shovel snow and chop firewood, while a summer retreat by the shore might call for cleaning patio furniture and staining the deck.

Much depends on how well the house is maintained throughout the year. Opening your vacation home could be as easy as stocking the pantry, or if the house was neglected in the offseason, you could have multiple repairs on your hands.

A well-maintained vacation home shouldn't take more than a day to get in shape for the season, assuming no major repairs are needed. Here are some typical opening chores:


Turn on utilities
Clean and stock kitchen and bathrooms
Look for evidence of plumbing and roof leaks
Cut lawn and trim shrubs/trees
Clear walkways and driveway
Set up outdoor furniture
Change lightbulbs and smoke detector batteries
Replace furnace filters
Check for signs of pest infestation

Closing a vacation home

Closing a vacation home also takes about a day to complete. The emphasis should be on safeguarding your home against the elements as well as fire risks. Here are some common closing tasks:
Turn off nonessential utilities
Secure all windows and doors
Turn on alarm system
Close storm shutters
Dispose of trash and perishable foods
Adjust furnace settings for climate
Bring in outdoor furniture
Unplug appliances and electronics
Drain water lines to prevent freezing (in cold climates)
Request mail-forwarding service

To deter vandalism and theft, consider installing a home security system. You can also put in automatic indoor lights that turn on at dusk or outside flood lights that are motion-activated.

If the house is only going to be vacant for a couple of months, call your utility providers to see if discounted "vacation rates" are available. It might be cheaper than turning off services and paying a reconnection fee a few weeks later.

Property manager vs. caretaker

It's costly to hire a property management company to maintain your vacation home, including opening it and closing it. If you plan to rent out your vacation home, a property manager typically gets 20% to 60% of the rental income, according to Christine Karpinski ofHomeAway, a vacation rental website.

A less expensive alternative is hiring a local housecleaner or handyman to open and close your vacation home, and keep an eye on the property during the offseason. A good rule of thumb for calculating cleaning fees is to budget $20 for each bedroom and bathroom, so a 3-bed/2-bath home would cost $100 to clean.

If you live far from your vacation home, you may have little choice but to hire local help. Ask owners of nearby vacation homes for referrals. Look for a property manager or caretaker with good references who has been in business locally for an extended period of time. And no matter who you end up hiring, be sure that anyone coming onto your property to do work is bonded and insured.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®."
http://www.houselogic.com/.

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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours? Contact me now to learn what's selling and how your home compares to others in your market.

You can reach me by e~mail me at
Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls and e-mails within hours, usually in just minutes!



Please Join my Facebook Page:
https://facebook.com/NancyMAlexanderRealEstate


Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Monday, June 4, 2012

Tax Deductions for Vacation Homes

Tax Deductions for Vacation Homes



A vacation home offers a break from the daily grind, but it can also offer a break from taxes. The IRS allows most owners to lower taxable income by taking tax deductions for vacation homes. What’s deductible depends on a number of factors, especially how often you visit and whether you allow renters.
You can rent out a vacation home for as many as 14 days per year without paying taxes on your rental income.

Don’t limit your notion of a vacation home to a beach cottage or a mountain cabin. Even RVs and boats can count, as long as there are sleeping, cooking, and bathroom facilities. Tax deductions for vacation homes are complex, so consult a tax adviser.

Is your vacation home a vacation home?

If you bought your vacation home exclusively for personal enjoyment, you can generally deduct your mortgage interest and real estate taxes, as you would on a primary residence. Use Schedule A to take the deductions.

The IRS even allows you to rent out your vacation home for up to 14 days a year without paying taxes on the rental income. You might be able to deduct any uninsured casualty losses too, though you can’t write off rental-related expenses. (More on those below.) If the home is rented for more than 14 days, you must claim the income.

Now, if you own what you consider a vacation home but never visit it, or only rent it out, other tax rules apply. Without personal use, the home is considered an investment or rental property by the IRS. Time spent checking in on a house or making repairs doesn’t count as personal use.

Tax deductions for rental owners

As an exclusive rental property, you can deduct numerous expenses including taxes, insurance, mortgage interest, utilities, housekeeping, and repairs. Even towels and sheets are deductible. Use Schedule E. You can also write off depreciation, the value lost due to the wear and tear a home experiences over time.

Treat the rental property like a business, says Mark Steber, chief tax officer at Jackson Hewitt Tax Services. Keep detailed records and maintain a separate checking account. Figure you’ll spend a couple of hours a week, on average, over the course of the year managing the property.

To maximize deductions you need to be actively involved in the rental property. That means performing such duties as approving new tenants and coming up with rental terms. You also need to own at least 10% of the property. See IRS Publication 527 for details.

If your modified adjusted gross income (same as adjusted gross income for most people) is below $100,000, you can deduct as much as $25,000 for rental losses — that is, the difference between your rental receipts and your rental expenses. The deduction gradually phases out between a modified adjusted gross income of $100,000 and $150,000. You can carry forward excess losses to future years or offset losses to offset gains when you sell.

Mixed use of a vacation home

The tax picture gets more complicated when in the same year you make personal use of your vacation home and rent it out for more than 14 days. Remember, rental income is tax-free only if you rent for 14 days or fewer.

The key to maximizing deductions is keeping annual personal use of your vacation home to fewer than 15 days or 10% of the total rental days, whichever is greater. In that case the vacation home can be treated as a rental, meaning you get the same generous deductions. To avoid going over the 10% limit, essentially you shouldn’t use your vacation home more than one day for every 10 days you rent it.

Make personal use of your vacation home for more than 14 days (or more than 10% of the total rental days), however, and your deductions may be limited. An example: Your rental receipts are less than your rental expenses. You can’t offset the loss against other income sources, such as salaries and pensions. There’s a worksheet in Publication 527that can help you determine which expenses you can carry over to the following year.

Another big blow: The IRS requires you to divide expenses between personal use and rental use. Let’s say you have a vacation home you personally use for 25 days and rent for 75 days. That’s 100 total days of use. You can only write off 75% of the expenses as rental expenses—75 rental days divided by 100 total days of use works out to 75%. Some of the personal expenses, such as mortgage interest and real estate taxes, may be deductible on Schedule A

IRS closes tax loophole

A popular strategy used by owners of vacation homes to avoid paying capital gains on a sale was to convert a vacation home into a primary residence. This was accomplished by living in the home for two years out of the previous five before selling. Doing so qualified the sale for an exclusion from taxes for a profit of up to $250,000 for single filers and $500,000 for joint filers.

While the exclusion remains available, the IRS closed a loophole for vacation homes. For 2009 and later years, you pay regular cap gains taxes on the portion of the gain that’s equivalent to the time you used the home as a vacation home after 2008.

Let’s say you bought a vacation home on Jan. 1, 2002, and it becomes your primary residence on Jan. 1, 2010. Two years later, you qualify for the cap gains exclusion and decide to sell on Jan. 1, 2012. You’re liable for capital gains taxes on 10% of the gain. Why? Because in 2009 the place was a vacation home. The exclusion is available for the other nine years — 2002 to 2008, when the old rules applied, and Jan. 1, 2010 to Jan. 1, 2012, when the place was used as a primary residence.

This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

By Donna Fuscaldo

Donna Fuscaldo has written about personal finance for more than decade for Dow Jones Newswires, the Wall Street Journal, and Fox Business News. She’s currently a freelance writer with her own home office.

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. Have a question about a Stone Harbor or Avalon homes or want to talk about selling yours? Contact me now to learn what's selling and how your home compares to others in your market.

You can reach me by e~mail me at
Nancy@NancyMAlexander.com or Call me! I love to talk Real Estate!
Call my cell 609.425.7521. I return calls and e-mails within hours, usually in just minutes!



Please Join my Facebook Page:
https://facebook.com/NancyMAlexanderRealEstate



Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate