Home Builders Optimistic About Turnaround In the Market!

Home Builders, the most depressed segment of the real estate industry are expressing optimism about a modest turnaround in the marketplace!
By Kenneth R. Harney

April 21, 2009

When home builders, the most depressed segment of the real estate industry, begin expressing optimism about a modest turnaround in the marketplace, maybe it's time for even the most dour doomsayers to listen.

Last week's home builders sentiment survey released by Wells Fargo and the National Association of Home Builders produced the single biggest monthly jump since 2003.

The survey focused on builders' perceptions of traffic at sales sites and expectations of sales in the coming six months, both were up sharply from the previous month.

Builders cited low prices, low interest rates, and the $8,000 federal home purchase tax credit as key reasons for their positive outlook.

Mortgage rates continued their decline into the upper 4 percent range last week -- averaging just 4.7 percent for 30-year fixed rate loans and 4.5 percent for 15 year money.

Some large builders have been sweetening those rates even more by "buying down" interest costs for purchasers to 3 percent or less, fixed for 30 years.

Of course, big improvements in traffic and sales projections do not necessarily mean that builders - or the real estate market as a whole -- are out of the woods.

To put the builders' sentiment survey into perspective: It's still far below the point where the builders themselves rate market conditions as "good." Most builders still rate their situations as "fair" to "poor." But they do see movement toward much better conditions ahead.

In that sense, home builders may be tuned into a much larger public perception change underway about the national economy. The Gallup polling organization's latest "Consumer Mood Index" rose sharply last week, and is now higher than it was at the same time last year.

Federal Reserve chairman Ben Bernanke expressed a similar, mildly optimistic view last week in public comments, as did President Obama.

Meanwhile, there's fresh evidence that, despite all the moaning and groaning about real estate being in the doldrums, there's a rising amount of business getting done. Wells Fargo reported a three billion dollar first quarter profit, much of it because of record results from its home mortgage operations.

Home sales in a number of hard-hit local areas continue to soar. In Orlando, Florida, for example, March sales were nearly 50 percent higher than March 2008.

And listing prices in major markets defied expectations by showing small monthly increases, according to a new report from Altos Research and Real IQ. In sixteen of the largest U.S. housing markets, according to the survey, listing prices were up by an average 1.1 percent.

Bottom line here: Think positive -- at least a little.


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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
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Stone Harbor Real Estate Market Activity from February 22 to March 10,2009

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.

There are currently 116 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.

In the three week period February 22 to March 10,2009 one home SOLD and went to settlement
8801 Pennsylvania Avenue, a 5 bedroom,5 bath home with a pool, listed for $2,849,000. which has been on market for 433 days,went. to settlement March 7,2009 and SOLD for $2,575,000


There are three 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.
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 – February 22 to March 10th 2009. Market Recap:

There are currently 61 Stone Harbor condos currently for sale ranging in price from $229,900 for a 1 bedroom,1 bath unit at 8305 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 $757,298
Average Days on the market - 271 days

One Condo in Stone Harbor is now Under Contract
312 88th street. Asking price $399,000
Days on the market-72 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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Avalon Sales Activity for the Weeks of February 8 to February 22, 2009

Avalon Sales Activity for the Weeks of February 8 to February 22, 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.

There are currently 209 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.

In the two week period February 8 to February 22,2009, three properties went Under Contract.
246 44th street,a 4 bedroom,3 bath home listed for $1,250,000.Goes to settlement 4/25/2009.Was on the market 38 days

118 22nd street,a brand new 5 bedroom,5 bath home listed for $1,695,000 goes to settlement on 4/24/2009.Was on the market 118 days

74 West 11th street, a 5 bedroom,5 bath home listed for $1,750,000 goes to settlement 4/21/2009.This was on market 17 days

Condo/Townhouse Avalon
There are now 147 condo/townhouses for sale in Avalon ranging in price from $185,000 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

One townhouse is Under Contract at 502 20th street. This 4 bedroom,4 bath unit is listed for $719,000 and goes to settlement 3/7/2009. This has been on market 528 days.



Three condo units have Sold and Settled.
Two units at 7929 Dune Drive .One Sold for $340,000,and one sold for $353,140.

300 79th street ,a 3 bedroom,2 bath unit listed for $630,000,Sold for $550,000 on 2/18/2009 after 86 days on the market.

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 or Call me! I love to talk Real Estate! Call my cell 609.425.7521 o

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

Avalon Sales Update November 1-10

Avalon Sales November 1,2008 to November 10,2008-

One single family home at 237 52nd street listed for $985,000 SOLD 11/5/2008 for $985,000 after only 57 days on market.

Two single family homes went Under Contract so far in November.
1471 Ocean Drive listed at $699,000
594 24th street listed at $1,395,000
Five single family homes were listed ranging in price from $1,195,000 up to $3,449,000 for a home 5th from the beach at 6212 Dune Drive.

To Compare Avalon Sales January 1 to November 10 in 2008 VS 2007-
In 2007 there were 90 single family homes SOLD in Avalon with average list price of $2,343,881 and average SOLD price was $2,159,871
In 2008 there were 92 single family homes SOLD in Avalon with average list price of $2, 238,847 and average SOLD price of $2,029.192
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Avalon Home Sales Activity October 2008

Avalon Sales October 2008 Activity

As of today there are now 222 single family homes for sale in Avalon .These range from $549,000 up to a whopping $12,900,000 .

There now eight homes Under Contract ranging in price from $985,000 up to $3,350,000 for a beach block home at 189 63rd street.


Eleven Avalon homes have SOLD and gone to settlement in October.
680 Third Ave listed for $1,100,000 SOLD for $999,000 10/7/08 after 221 days on the market.

251 36th street. listed for $1,199,000 SOLD for $1,125,000 10/10/08 after 70 days on market.

63 W. 29th street listed for $1,495,000 SOLD for $1,375,000 10/4/08 after 606 days on market.

1758 Dune Drive listed for $1,595,000 SOLD for $1,465,000 10/1/08 after 707 days on market.

23 Pelican Drive listed at $2,495,000 SOLD for $1,950,000 10/8/08 after 88 days on market.

7389 Dune Drive listed at $2,395,000 SOLD for $2,050,000 10/1/08 after 100 days on market.

4506 Fifth Ave. listed for $2,495,000 SOLD for $2,367,000 10/2/08 after 274 days on market.

178 74th st. listed for $2,650,000 SOLD for $2,600,000 10/3/08 after 370 days on the market.

2289 Avalon Avenue listed for $1,999,000 SOLD for $1,800,000 10/31/08 after 261 days on the market.

601 24th street listed for $2,395,000 SOLD 10/29/08 for $2,000,000

63 heron Drive,a 4 bedroom,3 bath bay front on 91x135 lot listed for $5,995,000 SOLD 10/31/08 for $5,485,000 after 856 days on the market.

There are 189 condo/townhomes now for sale in Avalon. These range from $189,000 for a one bedroom condo at 7900 Dune Drive up to $2,200,000 for a 4 bedroom 3 bath beach block townhouse on 28th street.

There are 29 condos now Under Contract in Avalon ranging in price from $305,000 to $1,899,000 for a 5 bedroom,5 bath unit on ocean Drive.

Two condos SOLD in October.

700 Ocean Dr listed for $725,000 SOLD for $677,500 on 10/15/08

375 24th street listed at $1,595,000 SOLD for $1,525,000 on 10/6/08

If you need a summer rental for 2009, 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 N.J. please visit my website www.StoneHarborRealtor.com. I'd love to be your Stone Harbor Avalon Realtor
Call me ..Nancy Alexander at 800.708.5792 I love to talk Real Estate !
or visit www.NancyMAlexander.com

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The Right Moves

The Right Moves

You found the perfect house, signed on the dotted line and are daydreaming about life in your new home. As moving day looms, it’s also time to think about packing up your many belongings. Have you found enough boxes? How to handle those precious family heirlooms and other breakables? Here are a few tips for making your big day go as smoothly as possible:
Before You Start
• Prioritize your packing list. Consider what you don’t need to take with you, what will need extra packing care and how to best organize your things.
• Estimate how many boxes you’ll need and get them well in advance of moving day. Save newspapers to line boxes.
• Consider investing in moving insurance, which will cover anydamages or breakages during the move.
Getting Under Way
• Start early. Packing always takes longer than you think.
• Begin at the top of the house first and work your way down. Attics are a great place to start sorting.
• Move from room to room, packing and labeling carefully as you go. Clearly mark boxes that contain breakable objects. Be sure to keep all boxes that belong to a certain room together. It will make it much easier when you unpack.
• Newspaper can sometimes leave marks, so wrap your valuables in bubble wrap, blankets or pillows to avoid messy newsprint.
• Keep all of your important documents, such as birth and marriage certificates,
in the same place for easy reference.
Thinking Ahead
• You likely won’t want to shuffle through boxes on your first night in your new home, or you might be traveling long distance and have your household items show up after you’ve arrived. Either way, pack an essentials box containing a change of clothes and toiletries, as well as coffee, tea, snacks, cups, plates and utensils. A small tool kit, first-aid supplies and pen and paper are also important to have on hand.

Green Thumb

It’s finally time to pull out the patio furniture, fire up the grill and enjoy outdoor activities in your yard. Here are some tips from HGTV.com that will keep your grass looking green all summer long.
When cutting the grass, try to keep its height at about two-and-a-half to three inches. Sharpen the blade of your mower at least three times a year to avoid grass split ends, and be sure to change your mowing pattern to prevent soil compaction, which will inhibit grass growth.
Instead of lightly watering your grass three to four times a week, give it a good soaking once a week – most lawns need about an inch of water. Watering early in the morning is best.
To combat weeds, make sure to use herbicides specially formulated to combat the types of weeds that are growing in your yard. If you aren’t a fan of herbicides, weed removal tools, such as weed hounds, usually do the trick.
Over-fertilizing is a common problem and can kill your lawn. You should only fertilize in the spring and summer months if you neglected to apply fertilizer in the fall. Every time you mow your lawn the clippings provide nitrogen, an excellent natural fertilizer.
Finally, keep kids, pets, vehicles and wheelbarrows off moist soil and emerging grass. Wait until your lawn is full and dry to enjoy it.

Be Smart. Buy Now

Daily Real Estate News March 11, 2008
Why Now is a Smart Time to Buy
Now is a great time to buy a home, say the financial gurus at the Wall Street Journal.

The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their advice is solid, it’s not revolutionary, but some potential customers might find it reassuring.

Remember this is a place to live not a stock market investment, they say. Lenders want buyers to spend no more than 28 percent of their gross monthly income on mortgage payments, real estate taxes, and home insurance. Buyers shouldn’t count on stretching further because lenders won’t approve their loans.

Cash is king. Having enough money in the bank to pay closing costs that are typically an additional 2 percent to 3 percent of the price of the home is necessary.
Location. Location, location. As any good real estate professional knows, homes in good school districts where the crime is low are much more likely to hold or increase their value.
Compare. Besides just looking at the comps, buyers should examine what it would cost to rent a similar house in the same area and they might consider what it would cost to buy land and build a comparable home.
Think long haul. It will probably take at least six or seven years of living in the house to be able to sell and come out ahead.

Source: The Wall Street Journal, Shelly Banjo (03/11/08)

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