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Monday, July 30, 2018

Great Spaces: Lakefront Living Goes Luxe


To celebrate summer, in this month's edition of Great Spaces, we're highlighting some seriously serene lakefront properties, from Minnesota all the way to sunny Florida.

Make a Splash on Mushroom Island

This eco-friendly home is a masterpiece of modern architecture, with four bedrooms, three baths and panoramic views of Northern Minnesota's White Iron Lake. The 4,822-square-foot estate sits on over seven acres of land on Mushroom Island Road.
Inside, you'll find wide windows, floors made from recycled tobacco barn siding, walls paneled with knotty pine and a great room with a stunning floor-to-ceiling stone fireplace. Other features include a four-season sun porch, a family room equipped with a drop-down movie screen, a boat house and a detached five-car garage with a guest suite above.
  



Listed for: $1,650,000
Listed by: Lindsay Bacigalupo, Engel & Völkers Minneapolis
Photos by: Engel & Völkers

Bay Village Beauty

When it comes to lakefront living, it doesn't get much better than the view from this custom stone, four-bedroom, six-bathroom home in Bay Village, Ohio. Take in the water (and the Cleveland skyline) from the property's spacious deck, walk the steps down to your own sandy beach or sit at the end of the private dock. Inside, 5,700 square feet of living space include a great room with windowed walls, a walk-in pantry off the gourmet kitchen and a fitness room.
Bonus: The property also includes a spacious guest cottage, connected to the main home by a wooden walkway.
  



Listed for: $3,200,000
Listed by: Joan Ellis, Howard Hanna Real Estate Services, Rocky River office
Photos by: Carl Staub

Lakefront Living in Florida

This Mediterranean-style lakefront home in Eustis, Fla., roosts on 1.37 acres of lush lawn with mature oak and fruit trees, an infinity pool with water views and a private dock. Walk through the estate's custom double wrought iron doors and you'll be welcomed by a sweeping grand staircase, a massive great room, five bedrooms, four bathrooms and 4,482 square feet of immaculately detailed living space.
Remodeled in 2014, this home offers quaint lakeside living less than an hour outside of Orlando.
  



Listed for: $1,100,000
Listed by: Lorie Clarke Reese, Florida Lifestyle Realty Group
Photos by: Wise Commercial Photography


Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Saturday, July 28, 2018

Top Bathroom Renovation Tips That Can Add Value to Your Home


By Hannah Whittenly
A bathroom can be among the top selling points in a home. Upgrading your bathroom prior to listing the home for sale may enable you to sell it at a higher price point.
Here are some of ways that you can improve your bathroom and get the highest possible return on your investment:

Add More Storage

There are many items that you want or need to keep in a bathroom at any given time. For instance, you'll likely want to keep extra rolls of toilet paper handy or have extra hand towels available. You'll also want to keep your toothbrush, toothpaste and deodorant in the bathroom. Adding a closet, a larger vanity or extra drawers underneath your current vanity, you provide plenty of space for multiple people to share the bathroom peacefully.

Add a Touch of Luxury

Buyers will have a harder time not putting an offer on a home when it has a luxurious feel to it. Adding a Jacuzzi to the bathroom will make a buyer feel as if he or she were about to buy a spa instead of a residential property. Working with companies can make it possible to make your bathroom luxurious yet affordable at the same time.

Put in New Tile

Replacing your current floor in favor of a tile one can improve the look and feel of the entire space. In fact, a remodeling contractor can add a heated floor that is ideal for those cold winter days or those chilly spring mornings. It can make it easier to face the prospect of walking to the shower or sink without the need to find your socks and slippers first.

Add an Additional Sink

If you have to share the bathroom with your spouse or kids, it's important to have multiple sinks. This allows both parents to get ready for work at once or both kids to get ready for school at the same time. It also allows each person to keep their area of the vanity as clean or as messy as they want without infringing on others.
Even if you don't have a large remodeling budget, you can still make your bathroom look and feel like the best room in the house. When done properly, this space can be the centerpiece of the home and help to attract eager buyers willing to pay top dollar for it.




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Friday, July 27, 2018

Brady Bunch House Hits Market After Five Decades


After sitting off the market for over 50 years, the iconic Brady Bunch house has finally been listed. Hitting the market at $1.885 million, the three-bedroom, two-bathroom Studio City home is located at 11222 Dilling Street along the Los Angeles River.
The current owners purchased the property in 1973 (prime Brady time) for just $61,000. Originally built in 1959, the home is reportedly the second most photographed home in the United States after the White House.
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Interior of the home not looking too familiar? That's because only the outside of the home was featured in the show. The rest of "The Brady Bunch", interiors and all, was filmed in a Los Angeles studio. Still, you wouldn't know it when you enter the property, which has been lovingly kept in the style of 70s chic, with an old school intercom, wood paneling, floral wallpaper and rustic stone fireplace spread over the home's 2,477 square feet.
Listed for: $1,885,000
Listed by: Ernie Carswell of Ernie Carswell & Partners, Douglas Elliman Real Estate
Photos by: Anthony Barcelo/Douglas Elliman Real Estate




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Thursday, July 26, 2018

Avalon and Stone Harbor NJ Weekly Update July 26, 2018

THE LOWEST PROPERTY TAX RATE in Cape May County belongs to Avalon once again, with an overall tax rate of 48.8 cents per $100 of assessed value.  Stone Harbor is close behind, with an overall rate of 55.2 cents per $100 of assessed value.  Both towns have been blessed with increasing ratables, which helps in maintaining low overall tax rates.


Looking for lunch: an egret quietly searches for a meal at low tide on Nummy Island, between Stone Harbor and North Wildwood.

A NEW KIND OF CONSTRUCTION:  Traditional stick-frame construction involves building homes on site, one piece of lumber at a time.  A new method of construction is being utilized for a home on 92nd Street, and is the first of its kind on the Island.  Large structural panels were fabricated by robots at Blueprint Robotics and built to very precise tolerances, then delivered to the construction site for assembly.  The panels are lifted by crane onto the foundation, and permanently fastened.   Unlike traditional construction, a whole house can be assembled quickly, minimizing exposure to weather.  And unlike “modular” construction, any architectural design can be accommodated.  Want to see for yourself?  Check out the picture below, or swing by the 200 block of 92nd Street for a look!


A structural panel built by robots is moved into position via crane.  Once positioned, the crew will fasten it permanently.

DESIGNER HOUSE TOUR: Cape Regional's 7 Mile Island Home & Health Show and Designer House Tour will be held on Saturday, August 11. The Home & Health Show opens at 9 am at Avalon Elementary School and admission is free. The Designer House Tour opens at 11 am. Tickets are on sale now for $35 per person at Avalon Chamber of Commerce, by calling 609-463-4040, or you can purchase tickets HERE. Tickets will also be on sale at the Home & Health Show starting at 9 am on August 11th - stop by early to enjoy the exhibits and leave for the tour from the school. For more information, call Cape Regional Foundation at 609-463-4040.

AMERICAN PICKERS Mike Wolfe and Frank Fritz are bringing their History Channel television show to New Jersey next month where they will film new episodes.  The documentary series highlights the world of antique picking, and the show’s stars are looking for new collections to explore while filming in New Jersey.

TAYLOR SWIFT LOVES STONE HARBOR!  At her July 13th concert in Philadelphia, Taylor Swift told her fans about spending her summers in Stone Harbor while growing up.  Originally from the Reading, PA area, Swift has mentioned Stone Harbor often during her singing career.   Before she became a superstar Swift used to sing at Coffee Talk.

UPCOMING EVENTS:
  • Santa & Mrs. Claus vacation in Stone Harbor, town-wide event- NOW through Saturday, 7/28
  • Avalon Free Public Library’s ‘Libraries Rock!’ Kid’s Reading Program, prizes every week, NOW through Friday, August 17
  • APAC Children’s Mini Event: Nature Nick’s Animal Adventure, Avalon Elementary School, 11AM-Noon, Thursday, July 26
  • Avalon’s Thursdays on Dune Concert featuring Eleven Eleven, Veteran’s Plaza, Pets on Parade at 5:30PM, concert at 7PM, Thursday, July 26
  • Family Movie Night at the Stone Harbor Library featuring G-rated Wonderstruck, 5:30-7:30PM, Thursday, July 26
  • Boating Safety Class, 39th Street Tennis Building, 6:30-10PM, Thursday, July 26
  • Pickleball for Kids, Avalon Community Hall, 10-11:30AM, Friday, July 27
  • Cape May Lighthouse Full Moon Climb, 8PM-10PM, Friday, July 27
  • Brendan Borek Fund sponsors Yoga on the Beach, 30th Street Beach, registration at 8AM, class begins at 9AM, Saturday, July 28
  • Avalon Players 50th Anniversary Reunion, Avalon Community Hall, 4-6PM, Saturday, July 28
  • Stone Harbor’s Farmer’s Market, 95th Street Water Tower Plaza, 8AM-12:30PM, Sunday, July 29
  • Stone Harbor Bird Sanctuary Tour, meet at Egret Espy Trail at 114th Street & Second Avenue Entrance, 10AM, Sunday, July 29
  • Monday Funday: Activities for Kids, Avalon History Center, 10AM, Monday, July 30
  • Stone Harbor Family Night, fun for all the family, Stone Harbor Fire House, 7PM, Monday July 30
  • Children’s Mini Event:  Hoop Wizard, Avalon Elementary School, 11AM, Tuesday, July 31
  • History of Avalon: 1939-1962, Avalon History Center, 6PM, Tuesday, July 31
  • Brendan Borek: The Artists & Friends Art Show, Avalon Yacht Club, 6-9PM, Tuesday, July 31
  • Stone Harbor’s Tuesdays at the Tower Concert featuring 40 North, Water Tower Plaza, 7-8:30PM, Tuesday, July 31
  • Avalon’s Beach Movie featuring Coco, 30th Street & the Beach, dusk, Tuesday, July 31
  • LEGO Club, Avalon Free Public Library, 10AM, Wednesday, August 1
  • Brendan’s Fund Pancake Day, The Fishin’ Pier Grill in both Avalon & Stone Harbor, Thursday, August 2
  • Avalon Players Production, Avalon Elementary School, 7PM, Thursday-Saturday, August 2-4
  • Stone Harbor’s Annual Arts & Crafts Festival, 8100 Second Avenue, 9AM-5PM on Saturday, August 4 & 9AM-4PM on Sunday, August 5


Featured Property:

110 feet along the ocean, and views that will mesmerize you!


95 E. 11th Street, Avalon, $5,600,000, ACTIVE MLS#: 180142



New Listings:

9511 Sunset Drive, Stone Harbor, $375,000, ACTIVE MLS#: 182996

54 E. 27th Street - Unit 1, Avalon, $725,000, ACTIVE MLS#: 183030

224 96th Street, Stone Harbor, $799,000, ACTIVE MLS#: 183019

239 29th, Avalon, $1,395,000, ACTIVE MLS#: 183031

4042 Fourth Avenue, Avalon, $1,450,000, ACTIVE MLS#: 183040

283 100 Street, Stone Harbor, $2,495,000, ACTIVE MLS#: 183058



Properties Under Contract:

7751 Ocean Drive, Avalon, $440,000, UNDER CONTRACT MLS#: 182404

330 40th Street, Avalon, $649,000, UNDER CONTRACT MLS#: 179278

1688 Ocean Drive, Avalon, $899,000, UNDER CONTRACT MLS#: 182586

3287 Ocean Drive, Avalon, $1,395,000, UNDER CONTRACT MLS#: 181706

233 34th St., East Unit, Avalon, $1,450,000, UNDER CONTRACT MLS#: 180925

643 Sunrise Drive, Avalon, $1,795,000, UNDER CONTRACT MLS#: 181502

763 Sunrise Drive, Avalon, $2,295,000, UNDER CONTRACT MLS#: 182256

  


Properties Sold:

3101 Dune Drive, Avalon, $35,000, SOLD MLS#: 180772

7929 Dune Drive, Avalon, $420,000, SOLD MLS#: 181592

204 37th Street, Avalon, $2,150,000, SOLD MLS#: 181826

349 89th Street, Stone Harbor, $2,700,000, SOLD MLS#: 182002

171 35th Street, Avalon, $2,850,000, SOLD MLS#: 179693










Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Tuesday, July 24, 2018

The Inside Workings of Credit Scores



Consumers are encouraged to check their credit reports once per year. The primary reason for doing so is to make sure there aren't any mistakes. Unfortunately, credit reports are prone to contain mistakes. It's not really the fault of the three main credit repositories, Equifax, Experian and TransUnion because all three are just a database. Whatever is reported to them is what you see. Further, someone with a similar name can show up on someone else's report. If you're not the only Bob Smith in town, this is certainly possible.

Someone else's poor credit might very well be showing up on your report which can directly damage your credit scores. When you find an error work with your loan officer to get it fixed. Your loan officer has working relationships with credit agencies and can help get mistakes fixed and provide a method to get your scores back to where they should be.

But have you ever wondered how these scores are calculated in the first place? They follow an algorithm first developed by The FICO Company years ago. For a while, credit scores weren't the primary force behind a credit decision but over time the impact of a credit score became more and more important. Most every loan program available today has a minimum credit score and if a score falls below the minimum, there's some additional work that needs to be done to get those scores back on track.

There are five characteristics of your credit history that make up your three-digit score: your payment history, account balances, how long you've had credit, the types of credit used and how often you've applied for new credit over the past couple of years.

Credit scores range from 300 to 850. Let's say a borrower has a credit score of 600 but needs a 620 to qualify for a particular loan program. Credit scores will improve much more quickly by paying attention to the two categories that have the greatest immediate impact on a score- payment history and account balances.

Payment history accounts for 35 percent of the total score and account balances 30 percent. When someone makes a payment more than 30 days past the due date, scores will fall. An occasional "late pay" won't really do much damage to a score but continued payments made more than 30, 60 or 90 days past the due date definitely will. By stopping the late payments scores will begin to recover.

Account balances compares outstanding loan balances with credit lines. If a credit card has a $10,000 credit line and there is a $3,300 balance, scores will actually improve. The ideal balance-to-limit is about one-third of the credit line. As the balance grows and approaches the limit, scores will begin to fall and fall even more should the account balance exceed the limit. This category contributes 30 percent to the total score.


The remaining three have relatively little impact. How long someone has used credit accounts for 15 percent of the score but there's really nothing anyone can do to improve this area other than to wait. Types of credit and credit inquiries both make up 10 percent of the score. By concentrating on payment history and account balances, scores will improve significantly over the next few months.


Written by David Reed



Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Monday, July 23, 2018

Your Resistance to Change When Buying or Selling Your Home



Resistance to change is common for buyers and sellers. This may seem surprising since both buying and selling mean seeking out a move with many related changes, but resistance is common none the less.
Buying and selling real estate involve many complex decisions packed full of real estate terminology, all of which are new territory for most buyers and sellers.
Add the pressure of time-sensitive decisions and the stress of dealing with huge amounts of money (much of it borrowed) and most buyers and sellers are way out of their comfort zones.
Does resistance in buyers and sellers make more sense now?
Too often, making no decision or a "no" decision may seem less stressful for buyers or sellers than agreeing to the significant changes related to entering into a real estate transaction. Fear of making the wrong decision can result in resistance and indecision which could cost thousands:

  • Sellers who receive their first offer — especially very soon after the house is listed — may worry they are selling too cheaply. Resistance can lead to the seller wanting "to wait and see" if a higher offer will appear. Sellers may second guess their decision to sell. Resulting stubbornness can materialize as illogical resistance to offer price, move-in date, or to giving up light fixtures or other items a buyer includes in their offer to purchase.
  • Buyers who have seen a property which meets their wish list must-haves, may still be resistant to making an offer, especially if it's their first offer or one of the first houses they view. Resistance leads to wanting "to see more houses" as if there's a magic number of viewings before a dream house appears. Resistance may also materialize as stubborn refusal to increase their offered purchase price for a seemingly-ideal property a few hundred or a few thousand dollars to meet the sellers half way. Buyers have been know to walk away from deals if the appliances, lighting fixtures, or other "must haves" they ask for in the offer are denied them by the seller. Ask your real estate professional about their experience with deal-breaking battles over furnishings and details.
Resistance is common under stress, even the best stress.
Real estate professionals will do their best to help buyers and sellers face their fears and overcome their resistance. Closing or decision-making techniques can help buyers or sellers realize where true value lies for them. In the hands of trained, ethical professionals, closing techniques can be communication and decision-making aids. (Caution: Unscrupulous individuals can use these simple exercises to manipulate or mislead — care is essential!)
For instance, one closing technique involves reducing a small disputed difference in purchase price like $1500 to its cost per day over a year. In this case, $1500 is $4.11 a day. Compare that amount to common purchases like a cup of coffee to put the financial decision in perspective. Or, relating that dollar difference to the cost per month on the mortgage payment, rather than cash out of hand, may also help.
Resistance leads individuals to "I'd like to sleep on it" reactions. It's not that they expect to win the Lottery overnight. This stress-related stall provides mental breathing room but unless issues are addressed, clear thinking does not automatically result. The problem is usually lack of confidence in decision making, not in the property.
Unfortunately, in real estate, delays can cost buyers a "dream" property or sellers a dream offer. Decisive buyers and sellers will snap up opportunities while others hesitate.
When experiencing resistance, ask yourself why you're having this reaction to put these feelings in perspective. Often the bigger the decision or resulting change, the greater the resistance:
  • What are you being asked to let go of or to release?
  • What must you face in its place?
  • How real are related fears?
  • How real are perceived benefits of proceeding with the transaction?
Enlist the expertise of your real estate professional in assessing the true benefits and weaknesses of the decision to buy or sell a specific property. Question their responses. Ask for market statistics and analysis of area trends.
  • Spend equal time and energy analyzing what is gained by not buying or selling the real estate in question. How special is this property anyway?
  • How much of the hesitation is related to uncertainty in your personal life or relationship? Is this really the best time to buy or sell? Don't just ask these questions. Get to work and decisively tease out answers.
Usually, this deep, clear thinking reveals the true value of benefits and gains in taking the plunge to buy or sell.



More than one experienced real estate professional has suggested the 51% rule can make sense when homes are involved. That is, "more sure" than "not sure," with slight but exhilarating uncertainty regarding the adventure ahead. That's real estate ownership.


Written by PJ Wade




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Sunday, July 22, 2018

The Critical First Two Weeks of Marketing Your Home For Sale


Brokers share their listings with other brokers in the multiple listing service (MLS) under certain rules of cooperation and compensation. One of the rules of cooperation is that each broker and agent make a new listings available to other MLS members within 24 or 48 hours of signing the listing agreement with the seller.

This is to give you, the seller, the greatest chance of selling your home during the first two weeks of marketing. This critical two-week period is your best opportunity to sell your home.

Several key events happen quickly:


  • Your home will be entered into the MLS showing system with your showing instructions, so that other agents can bring their buyers to see your home. While your listing is being prepared for marketing, your agent will contact his or her buyers and inform colleagues of the new listing.
  • Other data such as mapping, satellite image, neighborhood information, tax roll data, school information and other data will be added to your listing so that buyers can get the full picture of what it's like to live in your home.
  • Your agent will either take photos, or schedule a videographer to help market your home with photos and video. This enables buyers to walk through your home and property virtually, so they can choose or eliminate your home when deciding which home to buy.
  • Your agent may create virtual or printed "feature" sheets that showcase your home's features to advantage, so buyers can remember it was your home they liked best when it's time to do side-by-side comparisons.
  • Your agent will schedule your home on the MLS tour for other agents to see, and ask for feedback. The agents who see your home in person are important, as they will be able to report your home's features and condition to their buyers. Homes in top move-in-ready condition sell faster and for more money.
  • Your agent will distribute your listing data to his or her website or blog, accounts such as Twitter or Instagram, the broker's website, and third-party sites like Realtor.com, Zillow, or Trulia.
  • Your agent will put a sign in your yard announcing your home is for sale.
  • Your agent may advertise your home in a number of places, including the local newspaper and homes magazines. Your agent may also put your home in their personal marketing tools such as e-magazines, newsletters, or email alerts to prospective buyers.

Anyone who is interested in homes in your price range and area will know your home is available for sale within the first two weeks of marketing.

If you don't get many showings or offers, chances are good that your home may be facing stiff competition from other homes on the market. They are in a better location, or superior condition or they're priced more aggressively.

If you don't have showings within two weeks of listing your home, consult your agent. Perhaps you can do a little more to spruce up your home's curb appeal, or perhaps stage the interior to better advantage.

Give your home a little more time before you adjust the price. You may be in a buyer's market with many homes for sale. If so, buyers need more time to sort through the homes on the market.

You don't want to take chances when marketing your home. Your best chance of selling your home is when it's new to the market and exciting to buyers. Don't lose your advantage by overpricing or underpreparing your home for market.

Written by Blanche Evans



Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Saturday, July 21, 2018

Real Estate Insights: Moving Mistakes to Avoid at All Costs


By Art Lopez
Moving to a new house, city or state is one of the most stressful things a person can go through. Even when everything goes smoothly, you'll likely be exhausted when all is said and done.
However, if your whole move is marred by one mistake after another, your stress levels can skyrocket. It's perfectly normal to feel overwhelmed by the enormity of moving, but lapses just make it worse. Here are moving mistakes you should try to avoid at all costs:
Not planning well. Making plans for just about anything—moving included—can spare you a lot of time and energy. Long before your moving day arrives, you should already be prepared for everything, from labeling each of your boxes to hiring professional and reliable movers. Taking on a move without planning well is a disaster in the making, so draw up your moving strategy now before it's too late.
Taking everything to the new place. Moving is one of the biggest opportunities you'll ever have to declutter. In all likelihood, you have things you don't really need or even want anymore, and you now have the chance to leave them behind. You can also opt to pack up all your clutter and choose which boxes to take with you, sell or donate. By sorting out the boxes you don't need to keep, you'll save some space in your moving truck, as well.
Spending too much on packing materials. If spending some money on new boxes and other packing materials isn't a problem for you, then go for it; however, if you're a little weary about your budget and want to save, you can forgo buying new boxes and wrapping paper. Simply comb through your house for old boxes and use old newspapers.
Not owning a moving survival kit. Moving from one house to another within the same city is exhausting enough, so imagine how arduous crossing state lines can be on you and your family. If you're moving that far, it wouldn't hurt to bring a moving survival kit. This should include a change of comfortable clothes, toilet paper, toiletries, snacks, medication, phone chargers and water bottles.
Not saving your receipts. With everything that's going on when you're preparing for a move, and on moving day itself, it's easy to forget to save the receipts and documents of all the expenses you've incurred. Never throw them away, because they're going to come in handy during tax season. Receipts, your bill of lading and even your estimates could be very useful documents when the time comes to deduct your moving expenses.
Not hiring professional movers. While you do have the option of going the DIY route when moving, things will be so much easier and more convenient for you if you hire professional movers instead. You'll incur certain costs by doing so, but the help they can provide is worth it.
It's also a common mistake to hire the first moving company you lay your eyes on in an ad. There are so many moving companies out there, but not all are created equal. The movers you should hire are legitimate ones with licenses, insurance and other vital considerations. You should also get quotes from at least three movers to determine the best deal.
Hopefully, the tips enumerated above can help you avoid getting overwhelmed on moving day. The less mistakes when moving, the lower your stress levels will be!




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Friday, July 20, 2018

Property Investment: The Ongoing Expenses You Need to Consider


By Daniel Defendi
Property investment can be an exciting opportunity for new investors. When evaluating the cost of a property, however, many homebuyers don't account for the ongoing expenses involved in owning and maintaining their asset.
Investment property expenses add up and can fluctuate over the course of ownership for a range of different reasons, whether it be unexpected repairs, rising interest rates or changing market conditions. As a responsible investor, it's important to plan for these future expenses and factor them into your number-crunching before making a purchase.
You can give your investment strategy a better chance of success by preparing for these costs and setting aside a cash buffer at the start of your investment journey:

Mortgage Repayments

For most property investors, their largest recurring expense will be their mortgage loan repayments. The best way to manage this expense is to choose a loan product and lender that aligns with your investment strategy, as well as your financial needs and long-term objectives.
High-income earners with a larger savings balance, for example, may choose to take advantage of the benefits of an offset loan to reduce interest on their mortgage payments. Alternatively, investors who need a guarantee that repayments won't change over time (for example, if they're starting a family or expecting a reduction in their income) can benefit from a fixed-rate loan.
New investors can also focus on improving their serviceability to better their chances of securing their chosen assistance from financial institutions.

Insurance

Insurance is a relatively minor expense that will protect you and your assets from a range of financial risks. The cost of insurance will vary depending on your provider and level of coverage, and can be tailored to suit your requirements. Insurance is a very worthwhile investment, and there are many different types of insurance that can be considered, including:
  • Building Insurance: This covers the cost of damage to your building and its fixtures, but doesn't include contents. Depending on your policy, this may cover events such as fires, water damage and falling trees.
  • Landlord Insurance: This protects you from the risk of a bad tenancy, such as vandalism of property or not paying rent. This insurance is also tax deductible.
  • Contents Insurance: This will cover personal possessions, such as furnishings and white goods, from damage or loss in events such as fires or theft. The range of contents and type of damage covered will also depend on your policy.

Property Management Fees

While managing your own property is possible, most people simply don't have the time or expertise to deal with the additional work. Property managers take the stress out of owning an investment property by managing and maximizing its value on your behalf.
Property managers will help to organize all aspects of your property, including handling tenants, maintenance and dealing with any additional issues that may arise. Fees for management will vary depending on your provider and their services, and are also tax-deductible.

Maintenance and Repair

While not always a constant cost, it's important to set aside funds for maintenance and occasional repairs. Every property will need maintenance or repairs eventually, but older properties may need attending to more often.
Setting aside a cash buffer means you'll be prepared for costly incidents, such as the breakdown of key appliances. Being able to make these repairs quickly and effectively will help to maintain your tenant's lease and improve your property, all without risking your financial stability.
Money from your cash buffer can also be used for home improvements such as carpeting, repainting or replacing gutters. This can make your property more appealing to renters and may enable you to charge a higher rent.
Property managers and other specialists will be able to best advise how much money should be set aside as a buffer to protect your long-term investment strategy. With the right advice, along with proper budgeting and planning, you'll be ready to tackle ongoing expenses with a sustainable investment strategy.




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Thursday, July 19, 2018

Avalon and Stone Harbor NJ Weekly Update July 19, 2018 #RealEstate #NJ

MARKET STATS:  The median sale price increased in June 2018, while reduced inventory held back the number of sales.  For full market stats, see the latest Long & Foster Market Minute report:  https://marketminute.longandfoster.com/Market-Minute/NJ/Avalon-Stone-Harbor.pdf  


Click above for the latest market stats!


THE TOWNSENDS INLET BRIDGE will close immediately after the summer season so that repair work on seven spans can be completed prior to next Memorial Day.  The spans are located on the Avalon side of the bridge, necessitating the closure to automobile traffic immediately after Labor Day.  With bad weather possible in January and February, and a March 1st deadline for in-water work imposed by the Department of Environmental Protection, delaying the closure to later in September couldn’t be done.  The $8.5 million repair contract was awarded to Agate Construction, which just completed repairs to the 96th Street Bridge in Stone Harbor.


Whales & dolphins put on a spectacular show!  Watch dolphins playing and whales surfacing about 49 miles off Cape May.  The video was shot by Paul Leiser (age 14) on the way home from a recent fishing trip, and later edited by Dan Leiser (age 12).  Skip ahead to 3:45 for a close up view of whales around the boat!


DESGINER HOUSE TOUR:  Cape Regional’s 7 Mile Island Home & Health Show and Designer House Tour will be held on Saturday, August 11.  The Home & Health Show opens at 9 am at Avalon Elementary School and admission is free.  The Designer House Tour opens at 11 am.  Tickets are on sale now for $35 per person at Avalon Chamber of Commerce or by calling 609-463-4040.  Purchase tickets online by clicking HERE.  Tickets will also be on sale at the Home & Health Show starting at 9 am on August 11th – stop by early to enjoy the exhibits and leave for the tour from the school.  For more information, call Cape Regional Foundation at 609-463-4040.

RAILROAD DAYS at Historic Cold Spring Village takes place this weekend, Saturday and Sunday, July 21st and 22nd, from 10am to 4:30pm.  Cape May Seashore Lines will operate historic motorcars, departing Cold Spring Station every 30 minutes from 11am to 4pm both days.  Tickets are $5 for adults and $3 for children (note, you must purchase a ticket or admission wristband to Historic Cold Spring Village to purchase motor car tickets.)  Railroad displays and working model trains will be available throughout the village.  For more info visit www.hcsv.org

FROM $200,000 to $10,000,000!  Whatever your budget, there’s something for you on Seven Mile Beach!  Whether you want an efficiency condo for weekend getaways, an oceanfront estate, or something in between, call or email me today!  I’ll listen to your needs and help you find the perfect place for you!

UPCOMING EVENTS:
  • Avalon Free Public Library’s ‘Libraries Rock!’ Kid’s Reading Program, prizes every week, NOW through Friday, August 17
  • Children’s Mini Event: Yosi’s Friends Around the World, Avalon Elementary School, 11AM-Noon, Thursday, July 19
  • Avalon’s Thursdays on Dune Concert featuring Lima Bean Riot, Veteran’s Plaza, activities at 5:30PM, concert at 7PM, Thursday, July 19
  • Scavenger Hunt, Avalon Community Hall, 10-11:30AM, Friday, July 20
  • Avalon Historical Society Clam Shell Competition, 30th Street Beach, 9AM, Saturday, July 21
  • Historic Cold Spring Village Railroad Days, Saturday & Sunday, July 21& 22
  • Santa & Mrs. Claus vacation in Stone Harbor, town-wide event, Sunday, July 22-Saturday, 7/28
  • Stone Harbor’s Farmer’s Market, 95th Street Water Tower Plaza, 8AM-12:30PM, Sunday, July 22
  • Stone Harbor Bird Sanctuary Tour, meet at Egret Espy Trail at 114th Street & Second Avenue Entrance, 10AM, Sunday, July 22
  • Bay Atlantic Symphony Concert, Avalon Elementary School, 7PM, Sunday, July 22
  • Monday Funday! Activities for kids at the Avalon Free Public Library, 10AM, Monday, July 23
  • Stone Harbor Family Night, fun for all the family, Stone Harbor Fire House, 7PM, Monday July 23
  • Avalon’s Christmas in July, Avalon Community Hall, 10AM-Noon, Tuesday, July 24
  • Boating Safety Class, 39th Street Tennis Building, 6:30-10PM, Tuesday, July 24
  • Stone Harbor’s Tuesdays at the Tower Concert featuring the Stone Mountain Road Band, Water Tower Plaza, 7-8:30PM, Tuesday, July 24
  • Avalon’s Beach Movie featuring E.T. The Extra Terrestrial, 30th Street & the Beach, dusk, Tuesday, July 24
  • Lego Club, Avalon Free Public Library, 11AM, Wednesday, July 25
  • APAC Children’s Mini Event: Nature Nick’s Animal Adventure, Avalon Elementary School, 11AM-Noon, Thursday, July 26
  • Avalon’s Thursdays on Dune Concert featuring Eleven Eleven, Veteran’s Plaza, Pets on Parade at 5:30PM, concert at 7PM, Thursday, July 26
  • Family Movie Night at the Stone Harbor Library featuring G-rated Wonderstruck, 5:30-7:30PM, Thursday, July 26
  • Cape May Lighthouse Full Moon Climb, 8PM-10PM, Friday, July 27
  • Brendan Borek Fund sponsors Yoga on the Beach, 30th Street Beach, registration at 8AM, class begins at 9AM, Saturday, July 28
  • Stone Harbor’s Farmer’s Market, 95th Street Water Tower Plaza, 8AM-12:30PM, Sunday, July 29
  • Stone Harbor Bird Sanctuary Tour, meet at Egret Espy Trail at 114th Street & Second Avenue Entrance, 10AM, Sunday, July 29
  • Brendan Borek: The Artists & Friends Art Show, Avalon Yacht Club, 6-9PM, Tuesday, July 31


Featured Property:

Newly built on an oversized lot in Stone Harbor’s south end!



226 108th Street, Stone Harbor, $2,750,000, ACTIVE MLS#: 182725


New Listings:

7888 Dune Drive, Avalon, $329,000, ACTIVE MLS#: 182975

8300 2nd Avenue, Stone Harbor, $529,900, ACTIVE MLS#: 182891

234 21st Street, Unit 204, Avalon, $539,900, ACTIVE MLS#: 182902

48 Seabreeze Lane, Avalon Manor, $795,000, ACTIVE MLS#: 182965

8318 Sunset Drive, Stone Harbor, $899,000, ACTIVE MLS#: 182855

310 79th Street, Avalon, $1,095,000, ACTIVE MLS#: 182937

100 96th Street, Stone Harbor, $1,125,000, ACTIVE MLS#: 182935

230 108th Street, Stone Harbor, $1,399,000, ACTIVE MLS#: 182897

242 6th Street, Avalon, $1,830,000, ACTIVE MLS#: 182845

813 Sunrise Drive, Avalon, $2,395,000, ACTIVE MLS#: 182945

234 14th Street, Avalon, $2,395,000, ACTIVE MLS#: 182876

225 88th Street, Stone Harbor, $2,495,000, ACTIVE MLS#: 182859

170 104th Street, Stone Harbor, $2,995,000, ACTIVE MLS#: 182858

15 94th Street, Stone Harbor, $3,295,000, ACTIVE MLS#: 182853

10725 Sunset Drive, Stone Harbor, $3,495,000, ACTIVE MLS#: 182865

10307 Second Avenue, Stone Harbor, $3,695,000, ACTIVE MLS#: 182928

2689 Avalon Avenue, Avalon, $3,695,000, ACTIVE MLS#: 182850

23 Heron Drive, Avalon, $6,495,000, ACTIVE MLS#: 182849

100 115 Street, Stone Harbor, $7,500,000, ACTIVE MLS#: 182987

5499 Dune Drive, Avalon, $8,699,000, ACTIVE MLS#: 182927


Properties Under Contract:

3023 Dune Drive, Avalon, $659,000, UNDER CONTRACT MLS#: 182773

246 19th Street, Avalon, $979,000, UNDER CONTRACT MLS#: 182903

263 34th Street, Avalon, $999,000, UNDER CONTRACT MLS#: 180308

541 21st Street, Avalon, $1,150,000, UNDER CONTRACT MLS#: 171967

1005 Dune Drive, Avalon, $1,199,000, UNDER CONTRACT MLS#: 182772

2934 Ocean Drive, Avalon, $1,199,000, UNDER CONTRACT MLS#: 170340

4451 Ocean Drive, Avalon, $1,199,000, UNDER CONTRACT MLS#: 176833

301 39th Street, Avalon, $1,395,000, UNDER CONTRACT MLS#: 181406

306 75th Street, Avalon, $1,695,000, UNDER CONTRACT MLS#: 182841

3548 Dune Drive, Avalon, $1,995,000, UNDER CONTRACT MLS#: 182361

545 24th Street, Avalon, $2,349,000, UNDER CONTRACT MLS#: 182362

19 S. Pelican Drive, Avalon, $3,795,000, UNDER CONTRACT MLS#: 179797

  

Properties Sold:

7800 Dune Drive, Avalon, $265,000, SOLD MLS#: 180634

700 First Avenue, Avalon, $590,000, SOLD MLS#: 180662

2708 Ocean Drive, Avalon, $845,000, SOLD MLS#: 179180

629 22nd Street, Avalon, $855,000, SOLD MLS#: 180908

315 79th Street, Avalon, $975,000, SOLD MLS#: 180876

1127 Stone Harbor Boulevard, Stone Harbor Manor, $1,165,000, SOLD MLS#: 179773

165 76th Street, Avalon, $3,175,000, SOLD MLS#: 178026











Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com