Buying, Selling or Renting in Stone Harbor or Avalon NJ?

Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

What You Should Know About Your Home and Your 2013 Taxes

　
Excellent Article by Dona DeZube  for houselogic.com


These days few things start a fight on Capitol Hill faster than taxes. Despite the fact that three important tax benefits used by millions of American homeowners are days from expiring, Congress is unlikely to do anything to re-up them any time soon.

So if you’re eligible, tax year 2013 is possibly the last time to claim the private mortgage insurance (PMI) deduction, the energy tax credit, and debt forgiveness benefit, all of which all expire on Dec. 31, 2013.

At least there’s one piece of good news for homeowners: If you have a home office, there’s a new, simpler option for calculating the home office deduction for which you may qualify on your 2013 taxes.

Meanwhile, here’s what you need to know about those expiring benefits as you ready your taxes:

PMI Deduction

This tax rule lets you deduct the cost of private mortgage insurance, which is what you pay your lender each month if you put down less than 20% on a home. PMI protects the lender if you default on the home loan. Your deduction could amount to a couple hundred dollars depending on your tax bracket and other factors.

Find out if you qualify for and how to take the PMI deduction.

Energy-Efficiency Upgrades

This sweet little tax credit lets you offset what you owe the IRS dollar-for-dollar for up to 10% of the amount you spent on certain home energy-efficiency upgrades, from insulation to water heaters. On the downside, the credit is capped at $500 (less in some cases). But on the bright side, the right improvement could lower your utility bills indefinitely.

Related: Take back your energy bills with these high-ROI energy-efficiency practices.

Debt Forgiveness

When you go through a short sale, foreclosure, or deed-in-lieu, your lender typically lets you off the hook for some or all of what you owe on your mortgage.

That forgiven mortgage debt is income, on which you’d typically have to pay income tax.

Suppose you’re in financial distress and your lender agrees to let you short-sell your home, say for $50,000 less than you owe on the mortgage, and forgive you for the balance. Without the protection of the Mortgage Debt Forgiveness Act, you’ll owe income tax on that $50,000.

It’s likely if you had the money to pay income tax on $50,000, you’d have used it to pay your mortgage in the first place.

New Simplified Option for the Home Office Deduction

This may be the last year for the benefits above, but a new one kicks in for the 2013 tax year. If you work from home, you may qualify to use a new, simplified option for claiming the
 home office deduction when you file your 2013 taxes.

How much simpler is it? It lets you claim $5 per sq. ft. for up to 300 sq. ft. instead of having to compute the actual expenses of your home office using a 43-line form. To calculate the square footage of your office, just multiply the length of two walls. For example, an 8-by-10-foot room is 80 sq. ft. And at $5 per, that’s $400.

Although using the simplified option is obviously easier, the basic requirements for claiming the home office deduction haven’t changed. Your home office still must be used for business purposes: Exclusively, and On a regular basis.
Related: Which Home Office Set-Ups Qualify for a Deduction?

Why Might the Tax Benefits Not Be Renewed?

Although the expiring tax benefits were renewed retroactively in past years, that may not happen in 2014 because many in Congress would like to see comprehensive tax reform rather than scattershot renewals of individual provisions. This could delay a decision on the homeownership tax benefits until the big picture budget and tax issues are resolved.

So if you can, enjoy them now!

/authors/Dona-DeZube/

Dona DeZube has been writing about real estate for more than two decades. She lives in a suburban Baltimore Midcentury modest home on a 3-acre lot shared with possums, raccoons, foxes, a herd of deer, and her blue-tick hound.







　


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'm just a phone call away. I love to talk Real Estate! My Business has been built on referrals which are always appreciated!

https://facebook.com/NancyMAlexanderRealEstate





　

　 

Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

House Hunting Tips

Check out this video, from HGTV’s Front Door, outlining the  7 biggest things to think about when you’re House Hunting.

How to Look Video | HGTV FrontDoor




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'm just a phone call away. I love to talk Real Estate! My Business has been built on referrals which are always appreciated!

https://facebook.com/NancyMAlexanderRealEstate



Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

5 Reasons to Buy a Home Now Instead of Spring

5 Reasons to Buy a Home Now Instead of Spring


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'm just a phone call away. I love to talk Real Estate!


My Business has been built on referrals which are always appreciated!
https://facebook.com/NancyMAlexanderRealEstate




Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate Sales Update January 2, to January 11,2010

Avalon Real Estate Statistics Single Family Homes and Condos January 2 to January 11, 2010


 There are currently 191 single family homes for sale in Avalon



Average list price is $2,549,753 and average days on the market is 345 days.

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




There are Seven single family homes Now Under Contract in Avalon




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

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



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



4-254 6th street, a 3 bedroom,1 bath home on a 50x110 lot listed for $1,095,000 is Under Contract after just 7 days on the market, and goes to settlement 4/30/2010



5-242 6th street, a 5 bedroom,4 bath home on a 50x110 lot went Under Contract in just 7 days and goes to settlement 4/30/2010



6-2888 Ocean Drive, a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement 3/1/2010.



7-56 E.26th street, a 5 bedroom,2 bath home on a 65x110 lot and listed for $2,200,000,goes to settlement 2/5/2010



One Single Family home SOLD in Avalon since January 2,2010



1-285 38th street, a 5 bedroom,4 bath home on a 50x110 lot and listed at $1,499,000,went to settlement 1/8/2010. SOLD for $1,425,000



Avalon Real Estate Condo/Townhouse Sales Activity January 2,to January 12, 2010



There are now 116 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,095,000 for a 4 bedroom, 3 bath unit at 65 E. 28th street



Average condo list price is $ 789,523 and the average days on market is 313 days.


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



1- 277 27th street, a 4 bedroom,3 bath unit listed at $635,000, goes to settlement 2/12/2010



2- 258 58th street ,a 4 bedroom,2 bath unit listed at $649,000 ,goes to settlement 1/29/2010



3-1708 Ocean Drive, a 3 bedroom,2 bath unit listed at $695,000,goes to settlement 1/15/2010



4- 255 35th street, a 4 bedroom,2.5 bath unit listed for $ 849,000, goes to settlement 1/22/2010




5- -241 E.33rd ST .a 4 bedroom,2.5 bath unit listed at $849,000,goes to settlement 1/30/2010



6- 3546 Ocean Drive, a 4 bedroom,3 bath unit listed at $1,259,000,goes to settlement 1/23/2010



7- 7 Marine Way, a 3 bedroom,3 bath unit listed at $1,290,000,goes to settlement 1/29/2010





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





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



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



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





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



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





Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate Update December 21 to January 2 .2010

Avalon Real Estate Activity Single Family Homes and Condos December 21, 2009. To January 2, 2010

There are currently 185 single family homes for sale in Avalon



Average list price is $2,533,361 and average days on the market is 352 days.



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



There are Thirteen single family homes Now Under Contract in Avalon



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



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



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



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



5-254 6th street, a 3 bedroom,1 bath home on a 50x110 lot listed for $1,095,000 is Under Contract after just 7 days on the market, and goes to settlement 4/30/2010



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



7-242 6th street, a 5 bedroom,4 bath home on a 50x110 lot went Under Contract in just 7 days and goes to settlement 4/30/2010



8-154 36th street, a 5 bedroom,3 bath home on a 40x110 lot and listed for $1.949,000, goes to settlement 12/29/2009



9-2888 Ocean Drive, a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000


10 6329 Dune Drive, a 6 bedroom,6 bath beach block home listed at $1,999,999,goes to settlement 12/30/2009







11 225 75th street, a 7 bedroom,7 bath home on a 60x110 lot and listed at $2,149,00,goes to settlement 12/30/2009



12-56 E. 26th street, a 5 bedroom,2 bath home on a 65x110 lot and listed at $2,200,000,goes to settlement 2/5/2010





13-184 70th street, a 5 bedroom,5 bath beach block home on a 60x110- lot and listed at $3,995,000,goes to settlement 12/29/2009



Two Single Family Homes have SOLD in Avalon since December 21, 2009


1-3754 Dune Drive, a 5 bedroom, 4 bath home on a 50x110 lot and listed for $1,495,000,SOLD 12/23/2009 for $1,400,000



2-246 16th street, a 5 bedroom,4 bath home on a 50x110 lot listed for $1,550,000 went to settlement 12/19/2009 SOLD for $1,475,000



Avalon Condo/Townhouse Sales Activity December 21, 2009 to January 2,2010.



There are now 115 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,095,000 for a 4 bedroom, 3 bath unit at 65 E. 28th street




Average  condo list price is $ 792,937, and the average days on market is 323 days.




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

1- 277 27th street, a 4 bedroom,3 bath unit listed at $635,000, goes to settlement 2/12/2010



2- 258 58th street ,a 4 bedroom,2 bath unit listed at $649,000 ,goes to settlement 1/29/2010



3- 1708 Ocean Drive, a 3 bedroom,2 bath unit listed at $695,000,goes to settlement 1/15/2010



4- 344 41st street, a 5 bedroom,3 bath unit listed at $795,000



5- -241 E.33RD ST .a 4 bedroom,2.5 bath unit listed at $849,000,goes to settlement 1/30/2010



6- 3546 Ocean Drive, a 4 bedroom,3 bath unit listed at $1,259,000,goes to settlement 1/23/2010



7- 7 Marine Way, a 3 bedroom,3 bath unit listed at $1,290,000,goes to settlement 1/29/2010




One condo has SOLD in Avalon since December 21, 2009.



1100 Ocean Drive, a 3 bedroom,2 bath unit listed at $1,399,000, SOLD 12/23/2009 for $1,300,000



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




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



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



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



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

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




 Nancy M. Alexander
Stone Harbor and Avalon NJ Real Estate

Avalon Real Estate Activity for May 19 to May 28 2009

Avalon Real Estate Activity for May 19 to May 28, 2009


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

Here is a summary of the Avalon Real Estate Market Activity May 19 to May 27.

There are currently 231 single family homes for sale in Avalon ranging in price from $549,000 for a two bedroom home at 667 22nd street to a whopping $16,875,000 for a seven bedroom south Avalon beach front home on 75th street.


Good news! Buyers are moving back into the market again encouraged by low interest rates and lower prices.

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

1- 742 Sunrise Drive, a 3 bedroom,1 bath home on 46x92’ lot listed for $550,000,goes to settlement 6/30/2009 after only 28 days on the market
2-3750 Ocean Drive, a 4 bedroom,2 bath home listed for $790,000,and goes to settlement July 11,2009.

3- 146 28th street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,595,000 and goes to settlement 5/16/2009
4-223 36th street a 4 bedroom, one bath home listed at 41,000,000,goes to settlement 6/12/2009.

5- 255 67th street, a 5 bedroom,4.5 bath home on a 60x110 lot, listed for $2,175,000,goes to settlement 7/1/2009



6- 568 22nd street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 10/30/2009


7- 78 W. 12th street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $2,195,000 goes to settlement 9/30/2009


8- 124 22nd street, a 5 bedroom,5 bath home listed for $1,695,000.


9- 78 W. 12th street,1 5 bedroom,5 bath home on an oversize lot, listed for $2,195,000.Goes to settlement 9/30/2009


10-1918 Avalon Avenue, a 5 bedroom,5 bath home on a 60x110 lot listed at $2,250,000 goes to settlement on 10/15/2009
11 -7464 Sunset Drive, a 3 bedroom bay front on a 75x120 lot, and listed for $2,650,000 goes to settlement 5/30/2009


One Single Family Home SOLD in Avalon May 19 to May 28

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


Avalon Condo/Townhouse Sales Activity May 19 to May 28

There are now 150 condo/townhouses for sale in Avalon ranging in price from $169,000 for an efficiency unit at 7900 Dune Drive, up to $2,200,000 for a beach front,4 bedroom,3 bath unit at 65 east 28th street
Average days on the market is 289 days.

There are nine condos in Avalon now Under Contract ranging in price from $275,000 to $899,000

Two Condo/townhomes were SOLD in Avalon

7929 Dune Drive, a one bedroom unit listed for $319,000, SOLD for $342,140 on 5/22/2009

700 Ocean Drive, a 4 bedroom, 2 bath unit listed for $795,000,SOLD on 5/21/2009 for $733,333



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

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

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



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