Stone Harbor Sales Activity for the Weeks of February 8 to February 22, 2009

Stone Harbor 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 Stone Harbor Real Estate Market Activity.

There are currently 112 homes for sale in Stone Harbor ranging in price from $525,000 for a one bedroom home on Weber Court to $5,990,000 for a beach front home on 97th street.

In the two week period February 8 to February 22,2009, one beach block home at 120 114th street which was listed for $2,900,000 SOLD for $2.400,000 on 2/11/2009 after 125 days on the market.

There are three single family homes currently Under Contract.
356 89th street ,a 3 bedroom,1 bath home listed for $990,000,goes to settlement 2/27/2009.This has been on the market 434 days.

8801 Pennsylvania Avenue, a 5 bedroom,5 bath home with a pool,listed for $2,849,000. which has been on market for 409 days.This goes to settlement March 7,2009

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 8 to February 22nd 2009. Market Recap:

58 Stone Harbor condos currently for sale ranging in price from $299,000 for an efficiency unit on 99th street up to $1,725,000 for a 5 bedroom,3.5 bath townhome with pool at 261 89th street.

Average asking price is $766,591
Average Days on the market - 297 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 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.

Real Estate Outlook: What's in Store for 2009?

Excerpt from My February Newsletter 2009 Realty Times


Real Estate Outlook: What's in Store for 2009?


What will the new year bring for housing and real estate? It's easy to look at all the negative economic news in the headlines and say - there's no sign that 2009 is going to be any better than 2008.

But here's a different perspective to consider from one of the country's veteran financial analysts -- Richard Bove of Ladenburg Thalmann, an investment banking company.

In a research report issued late in December, Bove said he sees a positive dynamic taking shape in the current cycle. The government has intervened aggressively in the markets to push interest rates down -- most notably in the home mortgage sector.

Though it takes awhile for low-cost money to begin having its effect, Bove said he expects "housing prices to stabilize and/or rise (in 2009) after a likely boom in mortgage refinancings as rates fall and loan applications increase."

Add in the expected massive economic stimulus package being put together on Capitol Hill with the incoming Obama administration -- and there's a good chance we're going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

Already there are positive signs of the turnaround Bove predicts:


Mortgage applications are off the charts, mainly for refis but also to buy houses at affordable prices.

Rates continue to hover at 50-year lows - five percent and even four and three quarters percent for 30-year mortgages, and still lower for 15 and 20 year mortgage terms.

Plus we're all paying a lot less at the gas pump, and sharply discounted prices for retail goods and autos.

And guess what? Americans are actually SAVING again, the national savings rate took a nearly three percent jump last month. That might sound small, but it's hugely important if it is the start of a trend.
There are also some signs that housing prices are stabilizing in some parts of the country. The latest monthly Federal Housing Finance Agency index found home prices UP by six-tenths of a percent in the Mountain states and UP by two tenths of a percent in New England.

You can ridicule small regional gains as statistically irrelevant, but here's an economic proposal to you for the New Year: Keep your eyes open for the small positive signs that are accumulating out there … because all downcycles tail off and come to an end.

The smartest players in real estate -- consumers and the industry - will make the most of the positives -- low-cost money, low prices, stabilizing local markets -- and thrive in the new year.


Written by Kenneth R. Harney

Read rest of my newsletter here

http://realtytimes.com/123/NancyAlexander
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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 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 N.J. Real Estate Market December 2008

Stone Harbor Real Estate - Homes and Condos Market Recap - Month of December 2008

The Real Estate market activity is always a topic of interest for Stone Harbor owners as well as tenants who vacation here every summer.


There has been an over-supply of homes or condos on the market for nearly two years now.Not all sellers understand that their asking price affects if they will sell,but when and for how much.The longer it takes to get to fair listed price,the longer their property languishes on market.This will translate to lower offers.

So, how did Stone Harbor single family homes and condos fare in December? Check out the numbers below:
Stone Harbor Single Family Homes - December 2008 Market Recap:

106 single family homes are currently for sale in Stone Harbor with asking prices range from $525,000 to $5,990,,000
Average asking price is $2,387,687
Average Days on the market - 240 days

2 single family homes in Stone Harbor went Under Agreement in December 2008
Asking prices ranged from $990,000 to$3,695,000

Brand new bay front home at 10602 Corinthian Place listed for $3,695,000 SOLD December 31st for $3,000,000


Average asking price - $2,342,500

Average Days on the market - 109 days

Homes Sold during December 2008 = 8
Asking prices ranged from $79,500 to $465,000
Sold prices ranged from $72,000 to $410,000
Average sold price - $284,250
Average Days on the market -269 days
Average List-to-Sell Ratio - 84%

12 homes in Stone Harbor expired from the market during December 2008 without selling.


Stone Harbor NJ Condos - December 2008 Market Recap:

49 Stone Harbor condos currently for sale
Asking prices range from $219,000 to $1,650,000
Average asking price is $745,742
Average Days on the market - 329 days



2 condos in Stone Harbor went Under Agreement
234 84th street.Asking price was $650,000
Days on market - 655 days

275 103rd street. Asking price $789,000

Days on the market-695 days



2 Stone Harbor N.J. Condos sold during December 2008.
A total of 17 Condos SOLD in Stone Harbor in 2008
Asking prices ranged from $499,000 to $999,000
Sold prices ranged from $460,000 to $900,000

Average List price- $650,000
Average sold price - $650,000

Average Days on the market - 655 days

1 condos in Stone Harbor NJ expired from the market without selling during December 2008.





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! 609-425-7521