Stone Harbor Real Estate Market March 10 to March 29,2009

Understanding the general direction of the current market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Stone Harbor or Avalon. Here is a summary of the Stone Harbor Real Estate Market Activity for March 10 to March 29,2009.

There are currently 115 homes currently for sale in Stone Harbor ranging in price from $475,000 for a two bedroom home on Weber Court to $5,990,000 for a beach front home on 97th street.

There are six single family homes currently Under Contract.
356 89th street, a 3 bedroom, 1 bath home listed for $990,000, went Under Contract on 10/9/2008 and goes to settlement 3/28/2009.This has been on market 434 days.
165 93rd street, a 3 bedroom,2 bath home on a 50x110 lot , listed for $1,395,000 went Under Contract on 3/1/2009 goes to settlement 4/20/2009. This has been on market 206 days

43 Weber Court, listed at $559,000 goes to settlement 4/15/2009
222 108th street listed at $998,000 goes to settlement 6/1/2009
100 108th street listed at $1,750,000 goes to settlement 6/8/2009
8626 First Avenue listed at $5,195,000 goes to settlement 5/15/2009

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

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

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

There are currently 63 Stone Harbor condos currently for sale ranging in price from $174,900 for an efficiency unit at 10120 Third Avenue up to $1,725,000 for a 5 bedroom,3.5 bath townhome with pool at 261 89th street.

Average asking price is $738,419
Average Days on the market - 276 days
One two bedroom, one bath condo at 312 88th street which was listed for $399,000, SOLD 3/27/2009 for $351,120. This was on market for 256 days


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

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

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

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

We received an important indicator of where housing is headed last week, when new mortgage applications for home purchases and refinances suddenly surged as they hadn't in months.

Applications for FHA loans to buy houses were up by 10.4 percent. And overall home purchase applications jumped by 7.1 percent.

Meanwhile mortgage interest rates dropped to their second lowest level in nearly two decades, according to the Mortgage Bankers Association. Thirty year fixed rates averaged 4.96 percent and fifteen year rated dropped to just 4.5 percent.

Why's this important? New financing applications to buy homes obviously point to rising purchase contracts and closed sales in the months ahead. They also suggest that prices have hit a level in many markets that is attracting once-hesitant buyers off the sidelines.

There's still another factor that's likely at work here as well: Congress's recent improvements to the home purchase tax credit -- pushing it to $8,000 from $7,500 and making it non-repayable. George Ratiu, research economist for the National Association of Realtors, says the big jump in loan applications could be tied to the improved credit in the stimulus package signed into law last month.

"Consumers may be responding to the stimulation" effect of the better credit for 2009, he said.

But let's be clear here: A rise in home purchase applications does NOT suggest we've turned the corner in the cycle or have solved the multiple challenges facing markets around the country -- high foreclosure levels, continuing domination in some areas of REO and short sales, and continuing increases in the unemployment rate.

Even amid these problems, however, there are some hints of possible improvements ahead. For example, a new study by research firm Realty Trac and USA Today found that despite the constant headlines about record levels of foreclosures, the more closely you look, the more you find that those numbers are highly concentrated in a relatively small number of counties.

More than half of the nation's foreclosures in 2008, researchers found, were concentrated in just 35 counties in 12 states. You can guess where: California, Las Vegas, Phoenix and Florida.

But the really eye-opening finding: In more than 650 other counties, representing one fifth of all markets in the U.S., foreclosure numbers have actually declined since 2006.

Foreclosures are horrible no matter where they occur. But the fact is: Huge portions of the United States have NOT been seeing record foreclosures, short sales or even serious property value declines. They're doing better.

by Kenneth R. Harney in Realty Times


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

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

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

Stone Harbor Sales Statistics December 2008

Stone Harbor Sales Statistics December 2008

Right now there are 111 single family homes on the market ranging in price from $529,000 for a Weber Court home up to $5,995,000 for a beach front home at 100 115th street.
One home is Under Contract (356 89th street) listed at $990,000 and this has been on the market for 434 days.

Nothing has SOLD and settled in Stone Harbor to date in December.
In 2008 Stone Harbor listed to SOLD ratio was 84% with an average of 303 days on the market.


Are you considering a move? If you need a summer rental ,if you have a property that you would like to list,or if you are thinking of buying or selling a home, in Stone Harbor or Avalon,please visit the address for Luxury Real Estate at www.StoneHarborRealtor.com. I'd love to be your Realtor.
It would be my pleasure to help you with your Real Estate needs.Call me ...I Love To talk Real Estate!

www.NancyMAlexander.com
It would be my pleasure to help you with your Real Estate needs.Call me ...I Love To talk Real Estate!

www.NancyMAlexander.com

Stone Harbor and Avalon Real Estate Snapshot of May Real Estate Sales Activity

Stone Harbor Real Estate Sales Activity in the Month of May


Stone Harbor MLS statistics show 110 single family homes are now on the sale market with prices ranging from a low of $495,000 to high of $6,150,000.
4 single family home SOLD and settled in May including one listed at $4,895,000.
Average days on the market =210 days.

There are now 5 single family homes Under Contract ranging in listed price from $950,000 to $1,199,000.
Average days on the market for these single family homes =245 days

There are now 69 condominiums/town homes now on the sale market in Stone Harbor ranging from a low price of $225,000 up to $1,899,000.The average time on the market is 244 days.
There were 3 Stone Harbor condos SOLD and settled in May selling for price ranging from $495,000 to $999,000.The average time on the market was 267 days..
There are now 3 Stone harbor condos Under Contract ranging in price from $689,000 up to 4877,000. The average time on the market is 423 days.



Avalon Real Estate Sales Activity in the Month of May

Avalon MLS facts show right now there are 210 single family homes for sale ranging from a low of $699,000 up to a whopping $11,900,000
There are now 10 Avalon single family homes Under Contract ranging in price from $999,000 up to $3,095,000.Average days on the market =340 days
15 Avalon single family home SOLD and Settled in May ranging in SOLD price from $675,000 up to $6,500,000.Average days on the market for these homes =237 days



There are now 154 condominium/ town homes for sale in Avalon. These range in price from $185,000 to $2,495,000.The average time on the market for these condos is 259 days.
There are 4 Avalon condos now Under Contract with listed prices from $695,000 to $899,000.Average time on the market for these units is 513 days.
6 Avalon condos have SOLD and settled in May with Sold prices from $585,000 up to $1,500,000.The average days on the market was 299 days

Would you like more information on Avalon or Stone Harbor Homes for Sale? Call me..I LOVE to talk Real Estate! 800.708.5792




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