Avalon Real Estate Activity Summary July 14 to August 3 ,2009.

Avalon Real Estate Sales Activity July 14 to August 3, 2009

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Here is Avalon Real Estate Activity Summary July 14 to August 3 2009.

There are currently 225 single family homes for sale in Avalon
Average list price is $1,273,571 and average days on the market is 280 days.
These properties range 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.

There are fifteen single family homes now Under Contract in Avalon
1 – 252 16th street, a 3 bedroom,1 bath home on a 50x110 lot listed for $$825,000,goes to settlement on 8/1/2009

2- 345 7th street, a 5 bedroom,2 bath home on a 50x110 lot,listed at $899,999,goes to settlement on 9/8/2009

3- 258 70th street, a 4 bedroom,2 bath home on a 60x110 lot listed for $1,195,000 goes to settlement on 11/30/2009
4- 568 22nd street, a 4 bedroom,3 bath home on a 40x130 lot listed for $1,675,000 goes to settlement on 12/4/2009

5- 313 42nd street, a 5 bedroom,4 bath home on 50x110 lot listed at $1,795,000 goes to settlement 8/7/2009

6-5649 Ocean Drive, a 4 bedroom, 3 bath home listed for $1,995,000, goes to settlement 9/9/2009

7-55 W. 10th street, a 4 bedroom,3 bath home listed for $1,895,000, goes to settlement 8/3/2009

8-84 W. 29th street, a 5 bedroom,5 bath home on a 50x110 lot listed at $1,995,000 goes to settlement 8/19/2009

9- 2888 Ocean Drive, a 5 bedroom, 4 bath home listed at$1,995,000 goes to settlement 3/1 2012

10- 4721 Fifth Avenue, 4 bedroom,4 bath bay front home on a 60x290 lot listed at $2,295,000,goes to settlement on 8/17/2009

11- 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

12-1918 Avalon Avenue, a 5 bedroom, 5 bath home on a 60x110 lot listed at $2,250,000 goes to settlement on 10/15/2009

13- 7290 Ocean Drive, a 5 bedroom, 5 bath bay front home on a 50x290 lot and listed at $5,995,000 goes to settlement on 8/18/2009

14- 146 Pelican Drive ,a 5 bedroom,5 bath bay front home on a 60x155 lot and listed for $5995,000 goes to settlement 9/1/2009 after 839 days on market.

Four single family homes SOLD in Avalon since July14

1—4251 Ocean Drive, a 4 bedroom,2 bath home on a 50x110 lot and listed at $799,999,SOLD 7/24/2009 for $760,000

2- 1889 First Avenue, a 5 bedroom,3 bath home on a 60x110 lot listed at $1,250,000, SOLD 7/14/2009 for $995,000

3- 15 E. 24th street, a 5 bedroom,2 bath home on a 50x110 lot listed for $1,711,000 SOLD 7/14/2009 for $1,668,000

4- 1852 Ocean Drive, a 4 bedroom,3 bath home on a 60x110 lot and listed at $2,395,000 SOLD 7/31/2009 for $ 2,300,000


Avalon Condo/Townhouse Sales Activity July 14 to August 3, 2009

There are now 136 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.


There are twelve condos in Avalon now Under Contract ranging in price from $550,000 to $999,000

Average list price is $726,666 and average days on the market is 249


Four condos SOLD and settled in Avalon since July 14th

1- 2023 Dune Drive,a new 3 bedroom,3 bath unit listed at $799,000 SOLD 7/26/2009 for $525,000

2-- 281 35th street,a 4 bedroom 2.5 bath unit listed for $724,900,SOLD on 7/24/2009 for $655,000

3- 506 20th street, a 4 bedroom,4 bath unit listed for $792,000,SOLD 7/17/2009 for $740,000
4 -700 Ocean Drive, a 3 bedroom,2.5 bath unit ,listed at $ 899,000,SOLD 7/16/2009 for $885,000

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 at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Avalon Real Estate Sales Activity June 26 to July 14,2009

Investor confidence is evident in Avalon . We’ve seen a spike in sales in the last month contributed to a combination of factors including the spring season , historically low interest rates and good inventory of homes priced to sell .

Here is Avalon Real Estate Activity Summary June 26 to July 14 2009.

There are currently 224 single family homes for sale in Avalon
Average list price is $2,631,388 and average days on the market is 294 days.
These properties range 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.

There are fourteen single family homes now Under Contract in Avalon
1 – 3750 ocean Drive, a 4 bedroom,2 bath home listed at $790,000,goes to settlement on 7/11/2009

2-4251 Ocean Drive, a 4 bedroom,2 bath home on a 50x110 lot is listed at $799,999 and goes to settlement on 7/24/2009

3-252 16th street , a 3 bedroom,1 bath home listed for $825,000 goes to settlement 8/1/2009

4- 1889 First Avenue , a 5 bedroom,3 bath home listed for $1,250,000,goes to settlement on 7/24/2009


5- 15 E. 24th street, a 5 bedroom, 2 bath home listed for $1,711,000,goes to settlement 7/11/2009

6-5649 Ocean Drive, a 4 bedroom, 3 bath home listed for $1,995,000, goes to settlement 9/9/2009

7-55 W. 10th street, a 4 bedroom,3 bath home listed for $1,895,000, goes to settlement 8/3/2009

8-5649 Ocean Drive, a 4 bedroom,3 bath home listed for $1,995,000,goes to settlement 9/9/2009

9- 2888 Ocean Drive, a 5 bedroom, 4 bath home listed at$1,995,000 goes to settlement 3/1 2012

10- 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

11- 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

12-1918 Avalon Avenue, a 5 bedroom, 5 bath home on a 60x110 lot listed at $2,250,000 goes to settlement on 10/15/2009

13-1852 Ocean Drive, a 4 bedroom, 3 bath home on a 60x110 lot, listed at $2,395,000, goes to settlement on 7/31/2009

14- 74 E 11th Street, a 5 bedroom, 3 bath beach block home listed for $$2,495,000 goes to settlement 7/11/2009


Seven single family homes SOLD in Avalon since June 26

1-—742 Sunrise Drive, a 3 bedroom,1 bath home on a 46x92’ lot which was listed at #550,000 SOLD for $505,000 on 6/30/2009

2-3750 Ocean Drive, a 4 bedroom,2 bath home on a 60x110 lot listed for $775,000 SOLD 7/10/2009 for $775,000

3-739 First Avenue, a 4 bedroom,2 bath home on a 50x110 lot listed for $1,250,000,SOLD 6/29/2009 for $1,165,000

4-6439 Dune Drive ,a 4 bedroom,3 bath home on a 60x100 lot was listed at $1,849,000 and SOLD 7/8/2009 for $1,550,000

5 110 36th street,a 4 bedroom,3 bath home on a 60x110 lot was listed at $1,849,000 and SOLD 7/10/2009 for $1,700,000

6-255 67th street, a 5 bedroom,4 bath home on a 60x110 lot which was listed at $2,175,000 and SOLD 7/1/ 2009 for $1,815,000

7- 2763 Avalon Avenue, a 6 bedroom,5 bath home on a 50x110 lot which had been listed at $2,395,000 and SOLD 7/10/2009 for $2,100,000




Avalon Condo/Townhouse Sales Activity June 26 to July 14, 2009

There are now 139 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.


There are twelve condos in Avalon now Under Contract ranging in price from $525,000 to $999,000

Average list price is $707,491 and average days on the market is 271

Five condos SOLD and settled since June 26

1-7800 Dune Drive,a 1 bedroom,1 bath unit listed at $225,000 SOLD 7/10/2009 for $ 220,000 after 25 days on the market
2- 2007 Seventh Avenue,a 3 bedroom 2 bath unit listed at $584,900,SOLD 7/3/2009 for $478,000

3- 2310 Dune Drive,a 3 bedroom,3 bath unit listed at $659,000,SOLD 6/27/2009 for $630,000.
4- 226 24th street, a 5 bedroom, 2.5 bath unit listed at $ 689,000 SOLD 6/27/2009 for $635,000

5-756 Sunrise Drive,a 4 bedroom,3.5 bath unit listed at $799,500 SOLD 7/7/2009 for $649,000


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 at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Nancy M. Alexander copyright © 2009-All rights reserved

Stone Harbor Real Estate Activity Update for June 5 to June 26, 2009.

Stone Harbor Real Estate Activity Update for June 5 to June 26, 2009.

Stone Harbor Real Estate Activity Update for June 5 to June 26, 2009.
Investor confidence is evident in Stone Harbor and Avalon. We’ve seen a spike in sales in the last month contributed to a combination of factors including the spring season , historically low interest rates and good inventory of homes priced to sell

There are currently 123 single family 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.

Average list price is $2,195,535 and average time on market is 289 days.

There are three single family homes currently Under Contract.

356 89th street, a 3 bedroom,1 bath home on a 35x100 lot and listed at $990,000.

222 108th street listed at $998,000 .

8704 Pennsylvania Avenue, a 3 bedroom, 2 bath Home on a 50x110 lot, listed at $1,287,000, goes to settlement 6/30/2009

Three single family homes SOLD in Stone Harbor in last three weeks

100 108th street, a 5 bedroom,2 bath home third from the beach listed for $1,750,000 SOLD on 6/8/2009 for $1,600,000

8726 Sunset Drive, a 4 bedroom, 2 bath newly renovated home listed for $1,099,000, SOLD 6/8/2009 for $1,090,000

11810 Third Avenue, a 3 bedroom,2 bath home on an 80x100 lot was listed for $1,399,000 and SOLD 6/15/2009 for $1,174,500




Stone Harbor NJ Condo Sale Activity June 5 to June 26 2009


There are currently 59 Stone Harbor condos currently for sale ranging in price from $194,500 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 $721,870
Average Days on the market - 317 days

Three Condos are now Under Contract in Stone Harbor

345 86th street, a 4 bedroom, 2 bath condo with bay views, listed for $899,000, goes to settlement 7/31/2009

8001 Second Avenue, a 2 bedroom,2 bath unit which is listed at $440,000 goes to settlement on 6/30/2009.

260 83rd street , a 4 bedroom, 2 bath unit listed at $729,000 goes to settlement 8/14/2009





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

Interest rates continue to be in the 5% range for conforming loans. 6% for loans over $417,000 and just like the "old days", lenders want verification of income to qualify for the loan, and good credit.


If you are interested in purchasing a summer home, take advantage of the current market and send me an e-mail with your wish list. You'll be pleasantly surprised with the options available. There is something here now for everyone.

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 and see Hundred of Stone Harbor and Avalon Rental & Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.

Nancy M. Alexander copyright © 2009-All rights reserved

Avalon Real Estate Activity for May 28 to June 5, 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 Avalon Real Estate Activity Summary May 28 to June 5 2009.

There are currently 224 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! We are seeing activity again with Buyers encouraged by low interest rates and lower prices.

There are fourteen 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- 739 First Avenue, a 4 bedroom,2 bath home on a 50x110 lot listed at $1,250,000. This goes to settlement 6/29/2009

4- 6439 Dune Drive, a 4 bedroom,3 bath home listed for $1,849,000 . This goes to settlement 7/8/2009

5-4251 Ocean Drive, a 4 bedroom,2 bath home on a 50x110 lot listed for $799,999. This goes to settlement 7/24/2009.

6- 2763 Avalon Avenue, a 6 bedroom,5 bath home on a 50x110 lot listed at $ 2,395,000, goes to settlement 7/10/2009

7- 223 36th street a 4 bedroom, one bath home listed at 41,000,000,goes to settlement 6/12/2009.

8-- 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


9- 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


10- 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


11-- 124 22nd street, a 5 bedroom,5 bath home listed for $1,695,000.


12- 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


13-1918 Avalon Avenue, a 5 bedroom,5 bath home on a 60x110 lot listed at $2,250,000 goes to settlement on 10/15/2009

14-1852 Ocean Drive, a 4 bedroom,3 bath home on a 60x110 lot, listed at $2,395,000, goes to settlement on 7/31/2009

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

-7464 Sunset Drive, a 3 bedroom bay front on a 75x120 lot, and listed for $2,650,000 SOLD 5/30/2009 for 42,350,000 after only 134 days on market.

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Avalon Condo/Townhouse Sales Activity May 28 to June 5,2009

There are now 148 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 ten condos in Avalon now Under Contract ranging in price from $305,000 to $899,000
Average list price is $565,388 and average days on market is 96.

Two Condo/townhomes were SOLD in Avalon

7800 Dune Drive, a one bedroom unit listed for $275,000, SOLD for $252,500 on 5/29/2009

283 26th street, a 3 bedroom 2.5 bath unit listed at $649,000,SOLD 5/29/2009 for $595,000 after 139 days on 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.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

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

Stone Harbor Real Estate Market Activity for May 5 to May 12, 2009

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


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 .


Stone Harbor Real Estate Market Activity Report for May 5 to May 12,2009.


There are currently 121 single family 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 four 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.

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
8726 Sunset Drive listed at $1,099,000 goes to settlement 6/1/2009



Stone Harbor NJ Condo Sale Activity May 5 to May 12 2009


There are currently 64 Stone Harbor condos currently for sale ranging in price from $194,500 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 $730,988
Average Days on the market - 298 days

Three Condos are now Under Contract in Stone Harbor

A beach front condo 9600 First Avenue Unit #1 is now Under Contract after only 81 days on market. Listed for $845,000, and goes to settlement on May 15th .

420 99th street,a 3 bedroom,1 bath unit which was listed at $445,000 went under Contract after only 33 days on the market. It goes to settlement 5/28/2009.

10120 Third Avenue, an efficiency unit listed at $174,000 goes to settlement 6/5/2009


A Carnival Bay unit at 10808 Sunset Drive, Listed for $725,000, SOLD May 9,2009 for $652,500 after 336 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)

Interest rates continue to be in the 5% range for conforming loans. 6% for loans over $417,000 and just like the "old days", lenders want verification of income to qualify for the loan, and good credit.

The overall price increase for properties in Stone Harbor and Avalon from 1998 to 2008 was 180.99%! This reflects an appreciation rate of 18.9% according to The Otteau Report .
With historically low mortgage rates and huge inventory and sellers willing to negotiate, buyers are jumping in realizing it does not get better than this.

If you are interested in purchasing a summer home, take advantage of the current market and send me an e-mail with your wish list. You'll be pleasantly surprised with the options available. There is something here now for everyone.

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 and see Hundred of Stone Harbor and Avalon Rental & Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.
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Avalon Real Estate Activity Report for May 5 to May 12, 2009

Avalon Real Estate Activity Report for May 5 to May 12, 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 5 to May 12.

There are currently 234 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 nine 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- 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
3- 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



4- 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

5- 74 W. 11th street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,750,000 goes to settlement 4/21/2009

6- 6799 Dune Drive, a 4 bedroom,4 bath home on a 65x110 lot and listed for $1,989,000 goes to settlement 5/29/2009

7- 2888 Ocean Drive, a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement in 2012

8- 693 Sunrise Drive, a 5 bedroom,4 bath home on a 60x130 lot and listed for $2,000,000 goes to settlement 5/14/2009
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


Three Single Family Homes SOLD in Avalon May 5 to May 12

246 44th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,250,000 SOLD 4/25/2009 for $1,200,000
4618 Fifth Avenue, a 5 bedroom,3 bath home on a 60x155 lot SOLD 5/8/2009 for $2,400,000

3- 245 67th street, a 4 bedroom,3 bath home on a 60x110 lot and listed for $1,550,000 SOLD 5/6/2009 for $1,525,000



Condo/Townhouse Avalon

There are now 146 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

There are ten condos in Avalon now Under Contract ranging in price from $305,000 to $899,000



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 at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Avalon N.J. Real Estate Sales Activity Report for April 27 to May 5, 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 April 27 to May 5.

There are currently 232 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.

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

246 44th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,250,000 goes to settlement 4/25/2009

245 67th street, a 4 bedroom,3 bath home on a 60x110 lot and listed for $1,550,000 goes to settlement 5/6/2009

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

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

74 W. 11th street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,750,000 goes to settlement 4/21/2009

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

2888 Ocean Drive,a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement in 2012

693 Sunrise Drive,a 5 bedroom,4 bath home on a 60x130 lot and listed for $2,000,000 goes to settlement 5/14/2009

4618 Fifth Avenue,a 5 bedroom,3 bath home on a 60x155 lot goes to settlement 5/8/2009



Five Single Family Homes SOLD in Avalon April 27 to May 5

118 22nd street, a 5 bedroom,5 bath new home listed for $1,695,000,SOLD 4/29/2009 for $1,675,000 after 202 days on the market

53 W. 15th street, a 5 bedroom,5 bath new home listed for $1,795,000,SOLD 5/2/2009 for $1,725,000 after 204 days on the market

249 64th street, a 4 bedroom,2 bath home on a 60x110 lot which was listed at $1,025,000 SOLD 4/27/09 for $1,100,000 after only 31 days on the market.

314 76th street a 4 bedroom,2 bath home on a 60x110 lot which was listed at $1,125,000 ,SOLD 5/1/2009 for $990,000 after 70 days on the market

3701 Dune Drive,a 6 bedroom, 6 bath home listed for $2,795,000,SOLD 4/30/2009 for $2,275,000 after 210 days on the market.



Condo/Townhouse Avalon

There are now 145 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

There are eight condos in Avalon now Under Contract ranging in price from $305,000 to $899,000

Four Condos have been SOLD in Avalon 4/27 2009 to 5/4 2009

460 20th street, a 1st floor,3 bedroom,1.5 bath unit listed for $399,000 SOLD 5/1/2009 for $350,000 after 567 days on the market

460 20th street, a 2nd floor unit with 3 bedrooms,1.5 baths listed for $469,000,SOLD 5/1/2009 for $445,000 after 567 days on the market

363 40th street, a 4 bedroom, 2,5 bath unit list for $799,000,SOLD 5/1/2009 for $725,000 after 533 days on the market.

3318 Ocean Drive, a 5 bedroom,4 bath bay front unit listed for $1,399,000,SOLD 4/30/2009 for $1,300,000 after 116 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.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

With Affordability Up, Home Buyers are Starting to Return

Thanks to record low mortgage rates and declining home prices, 55 million families – or half of all U.S. households -- can afford today’s $200,000 median-priced new home, according to figures released by the National Association of Home Builders (NAHB).

"That’s an increase of 17 million households from conditions just two years ago and the best housing affordability number we have seen in years," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "We are now seeing the first signs that buyers are returning to the marketplace."

Based on data from the U.S. Census Bureau comparing home prices, mortgage rates and minimum income needed to purchase a median-priced home in February 2007 and February 2009, a typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.

"With affordability up dramatically, reports from our builders in the field indicate that foot traffic in new homes is on the rise and consumer interest is increasing with each passing day. These are encouraging signs that the housing market may be finally reaching a bottom," said Robson.

Entering the crucial spring home buying season, there are other signs that buyers are starting to return to the market.

Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down. In a survey for Century 21 Real Estate last month among prospective first-time home buyers who indicated they were likely to purchase a home in the next two years, a majority – 78 percent – said that now is a good time to buy a home. Of those responding to the online poll, 68 percent said that now is a better time to buy than six months ago.

Another sign that consumers are considering jumping back into the housing market is the growing interest in the $8,000 first-time home buyer tax credit included in the recently enacted economic stimulus package. During February and March, 1.5 million visitors logged on to NAHB’s consumer Web site, federalhousingtaxcredit.com, to learn more about the tax credit. Further, a new survey commissioned by Move, Inc. found that nearly 20 percent of those who plan to purchase a home this year are doing so to take advantage of the tax credit, which expires at the end of November.

"With home values in many markets at the lowest level since 2003, an $8,000 tax credit available to first-time home buyers, fixed-rate mortgages under 5 percent, and an outstanding selection of homes to choose from, buyers are starting to recognize that this has the makings for a one-time opportunity to break into the market," said Robson.

Housing is a critical component of the U.S. economy, accounting for about 15 cents of every dollar spent in this country, so any upturn in the housing market should be viewed as good news for the overall economy, said Robson.

Construction of an additional 500,000 single-family homes – the difference between today’s anemic construction rate and one that would move closer to meeting the underlying demand for housing – would generate 734,000 jobs and $35 billion in wages in the construction industry and another 790,000 jobs and $37.7 billion wages in manufacturing, trade, and service sector jobs, he noted.

Additionally, another half-million housing starts would bolster the tax base for government, generating $45 billion in federal, state and local tax revenues. And the benefits go well beyond the completion of each home. Within the first year after buying a home, those half million households will spend about $2.5 billion more on appliances, furnishings and property alterations.

"Clearly, housing will be central to any economic recovery we experience in the months ahead," said Robson.


Written by Realty Times Staff
For more great Real Estate articles fom My Monthly Newsletter, Click here http://realtytimes.com/126/NancyAlexander

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

Update of Stone Harbor Real Estate Activity for April 20th to April 29th, 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
Stone Harbor Real Estate Market Activity Report for April 20th to April 29th,2009.


There are currently 118 single family 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.

Seeing more evidence of Stone Harbor Consumer Confidence . More homes Under Contract recently than we have seen in a while.

There are seven 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.

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
8726 Sunset Drive listed at $1,099,000 goes to settlement 6/1/2009
9911 Sunrise Drive listed at $2,495,000 goes to settlement 4/30/2009
8501 Pennsylvania Avenue listed at $3,695,000 goes to settlement 5/4/2009.
This is a Custom new 4 bedroom,3 bath home on a 55x110 lot and on market just 17 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.

9911 Sunrise Drive is a 4 bedroom, 2 bath bay front home on a 95.9x110 lot listed for $2,495,000 .It has been on market 120 days and goes to settlement 4/30/2009

8726 Sunset Drive is a 4 bedroom,2 bath home on a 35x80 lot listed for $1,099,000 and goes to settlement 6/1/2009. It has been on market 239 days.


Stone Harbor NJ Condo Sale Activity April 20th to April 29th 2009


There are currently 65 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 $722,048
Average Days on the market - 283 days

Three Condos are now Under Contract in Stone Harbor

A beach front condo 9600 First Avenue Unit #1 is now Under Contract after only 81 days on market. Listed for $845,000, and goes to settlement on May 15th .

A Carnival Bay unit at 10808 Sunset is Under Contract after 300 days on the market. Listed for $725,000,This goes to settlement May 9,2009

420 99th street,a 3 bedroom,1 bath unit which was listed at $445,000 went under Contract after only 33 days on the market. It goes to settlement 5/28/2009.


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

Interest rates continue to be in the 5% range for conforming loans. 6% for loans over $417,000 and just like the "old days", lenders want verification of income to qualify for the loan, and good credit.

The overall price increase for properties in Stone Harbor and Avalon from 1998 to 2008 was 180.99%! This reflects an appreciation rate of 18.9% according to The Otteau Report .
With historically low mortgage rates and huge inventory and sellers willing to negotiate, buyers are jumping in realizing it does not get better than this.
If you are interested in purchasing a summer home, take advantage of the current market and send me an e-mail with your wish list. You'll be pleasantly surprised with the options available. There is something here now for everyone.
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 and see Hundred of Stone Harbor and Avalon Rental & Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.
:

Avalon N.J. Real Estate Sales Activity Report for April 20 to April 27th, 2009

Avalon N.J. Real Estate Sales Activity Report for April 20 to April 27th, 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 April 20 to April 27.

There are currently 235 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.

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


314 76th street, a 4 bedroom,2 bath home on a 60x110 lot listed for $1,125,000 goes to settlement 5/1/2009

246 44th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,250,000 goes to settlement 4/25/2009

54 W. 26th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,395,000 goes to settlement (scheduled 4/4)

245 67th street, a 4 bedroom,3 bath home on a 60x110 lot and listed for $1,550,000 goes to settlement 5/6/2009

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

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

118 22nd street, a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 4/24/2009

74 W. 11th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,750,000 goes to settlement 4/21/2009

53 W. 15th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,795,000 goes to settlement 5/2/2009

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

2888 Ocean Drive,a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement in 2012

693 Sunrise Drive,a 5 bedroom,4 bath home on a 60x130 lot and listed for $2,000,000 goes to settlement 5/14/2009

4618 Fifth Avenue,a 5 bedroom,3 bath home on a 60x155 lot goes to settlement 5/8/2009

3701 Dune Drive,a 6 bedroom,6 bath home on a 60x110 lot and listed for $2,795,000 goes to settlement 4/30/2009


SOLD
249 64th street, a 4 bedroom,2 bath home on a 60x110 lot which was listed at $1,025,000 SOLD 4/27/09 for $1,100,000 after only 31 days on the market.


Condo/Townhouse Avalon
There are now 141 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

There are twelve condos in Avalon now Under Contract ranging in price from $305,000 to $1,399,000

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 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

Washington Report: Appraisals to Change

Home mortgage and appraisal groups in Washington are in countdown mode: On May 1 the national rules for real estate appraisals will change dramatically -- at least for lenders who want to sell their loans to Fannie Mae and Freddie Mac.
Lenders will have to adopt what's known as the "HVCC" - the home valuation code of conduct - and guarantee that every loan they sell to Fannie or Freddie complies with the code completely.
So what's the big deal in that?

Well, among other changes, the new code will ban mortgage brokers from ordering appraisals, and will push much of the business to third-party appraisal management companies.

Those management firms, in turn, select appraisers from their own networks, leaving many of the appraisers who now do valuations for home purchases and refinancings out of the loop.

Management companies generally only deal with appraisers who'll work for much lower fees than they'd normally charge. Instead of earning $325 or $350, an appraiser working for a management company might only get $175. The management company pockets the rest.

In some cases, the new code might even raise the cost of appraisals to the consumer -- and change the timing of when consumers pay for them.

For example, Jeff Lipes, president of Family Choice Mortgage in Hartford, Connecticut, says one of his major wholesale lender clients has instructed him that because of the May 1 changeover, all "good faith estimates" provided to loan applicants must indicate a flat $455 fee for appraisals through its designated appraisal management company.

Also, borrowers will need to pay for them up front, before the work is performed, by credit card, debit card or electronic fund transfer. Lipes, a veteran mortgage broker, said up until now the standard fee was $325, and could be paid for by the consumer at closing.

Since Lipes will not be able to select from his long-established group of local appraisers as of May 1, if the management company's appraiser is unfamiliar with local market conditions and comes in with a value too low to support the home purchase or refi program the consumer needs, a new appraisal will need to be ordered -- and a second fee charged.

Mortgage groups are not enthusiastic about the May 1 changeover either, and the Appraisal Institute has been scathingly critical of the mandatory push to low-pay management companies.

But there's still one way to avoid the hassles associated with the May 1 changes: Switch to FHA financing, rather than conventional. FHA has its own long-standing appraisal rules, and doesn't plan to adopt Fannie's or Freddie's code.

By Kenneth R. Harney

Copyright © 2009 Realty Times. All Rights Reserved.


For more great Real Estate articles from my Realty Times Newsletter Click Here
http://realtytimes.com/125/NancyAlexander

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

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.


For more great Real Estate articles from my Realty Times Newsletter Click Here
http://realtytimes.com/125/NancyAlexander

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

Avalon New Jersey Sales Activity Report for April 12 to April 20th, 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 April 12 to April 20.

There are currently 227 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.

There are Fifteen single family homes now Under Contract in Avalon.
249 64th street , a 4 bedroom,2 bath home on a 60x 110 lot listed for $1,025,000 goes to settlement 4/27/2009.

314 76th street, a 4 bedroom,2 bath home on a 60x110 lot listed for $1,125,000 goes to settlement 5/1/2009

246 44th street,a 4 bedroom,3 bath home on a 50x110 lot listed for $1,250,000 goes to settlement 4/25/2009

54 W. 26th street, a 4 bedroom,3 bath home on a 50x110 lot listed for $1,395,000 goes to settlement (scheduled 4/4)

25 67th street, a 4 bedroom,3 bath home on a 60x110 lot and listed for $1,550,000 goes to settlement 5/6/2009

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

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

118 22nd street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,695,000 goes to settlement 4/24/2009

74 W. 11th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,750,000 goes to settlement 4/21/2009

53 W. 15th street,a 5 bedroom,5 bath home on a 50x110 lot and listed for $1,795,000 goes to settlement 5/2/2009

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

2888 Ocean Drive,a 5 bedroom,4 bath home on a 50x110 lot and listed for $1,995,000 goes to settlement in 2012

693 Sunrise Drive,a 5 bedroom,4 bath home on a 60x130 lot and listed for $2,000,000 goes to settlement 5/14/2009

4618 Fifth Avenue,a 5 bedroom,3 bath home on a 60x155 lot goes to settlement 5/8/2009

3701 Dune Drive,a 6 bedroom,6 bath home on a 60x110 lot and listed for $2,795,000 goes to settlement 4/30/2009


SOLD
268 23rd street,a 5 bedroom 2 bath property listed for $739,000 SOLD on 4/15/2009 for $645,00

Condo/Townhouse Avalon
There are now 138 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

There are nine condos in Avalon now Under Contract ranging in price from $305,000 to $1,399,000.
7929 Dune Drive, a one bedroom, one bath unit listed for $329,990,SOLD on 4/17/2009 over list for $357,128

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

Update of Stone Harbor Real Estate Market Activity for April 12th to April 20th,2009

Update of Stone Harbor Real Estate Market Activity for April 12th to April 20th,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
Stone Harbor Real Estate Market Activity Report for April 12th to April 20th,2009.


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.

Stone Harbor Consumer Confidence is evident! More homes Under Contract recently than we have seen in a while.

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.
4/20/2009. This has been on market 206 days
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
8726 Sunset Drive listed at $1,099,000 goes to settlement 6/1/2009
9911 Sunrise Drive listed at $2,495,000 goes to settlement 4/30/2009

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.

9911 Sunrise Drive is a 4 bedroom, 2 bath bay front home on a 95.9x110 lot listed for $2,495,000 .It has been on market 120 days and goes to settlement 4/30/2009

8726 Sunset Drive is a 4 bedroom,2 bath home on a 35x80 lot listed for $1,099,000 and goes to settlement 6/1/2009. It has been on market 239 days.

Stone Harbor Single Family Homes SOLD
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 went to settlement 4/20/2009 SOLD for $1,281,000 after 256 days on market
43 Weber Court, listed at $559,000 went to settlement 4/15/2009 SOLD for $508,000 after 58 days on market

Stone Harbor NJ Condo Sale Activity April 5th to April 12th 2009


There are currently 65 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 $722,462
Average Days on the market - 283 days
Two Condos are now Under Contract in Stone Harbor

A beach front condo 9600 First Avenue Unit #1 is now Under Contract after only 81 days on market. Listed for $845,000, and goes to settlement on May 15th .
A Carnival Bay unit at 10808 Sunset is Under Contract after 300 days on the market. Listed for $725,000,This goes to settlement May 9,2009


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

Interest rates continue to be in the 5% range for conforming loans. 6% for loans over $417,000 and just like the "old days", lenders want verification of income to qualify for the loan, and good credit.

The overall price increase for properties in Stone Harbor and Avalon from 1998 to 2008 was 180.99%! This reflects an appreciation rate of 18.9% according to The Otteau Report .
With historically low mortgage rates and huge inventory and sellers willing to negotiate, buyers are jumping in realizing it does not get better than this.
If you are interested in purchasing a summer home, take advantage of the current market and send me an e-mail with your wish list. You'll be pleasantly surprised with the options available. There is something here now for everyone.
e~mail me at Nancy@NancyMAlexander.com, or Call me! I love to talk Real Estate! Call my cell @ 609.425.7521 or Direct Line @ 800.708.5792

Please visit The Address For Luxury Real Estate and see Hundred of Stone Harbor and Avalon Rental & Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor.
:

Great Article in The Washington Post with some good news on the housing market

Week April 20-24
Housing Data Could Signal If Bust Is Over
THURSDAY

Economy-watchers are searching for evidence that the housing market is starting to hit bottom. And in recent months, there has been some evidence that the end of the great housing bust may be near.
This week offers a reality check, with three key pieces of housing-related data coming out. But to interpret the data, it helps to realize that the end of the housing bust means different things, and could come at different times, depending on what data you consider.
Home sales will likely hit a bottom first -- and may have already done so. Data on existing home sales in March is scheduled to come out Thursday and new home sales on Friday. Both measures of housing activity picked up in February, a sign that between cheap foreclosed-on houses and low mortgage rates, the volume of sales may finally have stopped falling. This week's data will be a test of that thesis. Analysts are expecting a mixed bag, with new-home sales rising modestly but existing home sales falling a bit.
Whatever the March numbers say, there are good reasons to think that home sales will improve as the spring selling season gets underway. Anecdotal reports suggest that low mortgage rates and an $8,000 first-time home-buyer tax credit are coaxing buyers back into the market. And while foreclosures are set to rise as banks begin to move on delinquent homeowners, that actually could boost home sales as banks auction homes for whatever the market will bear.
The prospects are less promising for home prices, a report on which is set to come out Wednesday. Analysts expect the Federal Housing Finance Agency's price index to have fallen 0.6 percent. The new wave of foreclosures may help home sales activity but is likely to keep driving home prices down.
Time lags are another issue. Even if low rates and tax credits bring buyers back into the market, it could take months for that increased demand to meaningfully affect prices, simply because of the time it takes a person to go from deciding it's time to shop again to actually closing on a house.
NEIL IRWIN'S MUST-READS include lessons learned from the CEO of Goldman Sachs and 10 principles from professor Nassim Nicholas Taleb, author of "The Black Swan."

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 to see Hundreds of Stone Harbor and Avalon Rental and Sale Properties at http://www.StoneHarborRealtor.com/. I'd love to be your Realtor

Avalon Sales Activity for the Weeks of March 29 to April 5th, 2009

Avalon New Jersey Sales Activity for the Weeks of March 29th to April 5th, 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 229 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.

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

A 4 bedroom,3 bath bay front home at 6600 Ocean Drive which was listed for $1,989,000 SOLD 3/21/2009 for $1,700,000. This was on the market for 365 days.


Condo/Townhouse Avalon
There are now 138 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

There are thirteen condos in Avalon now Under Contract ranging in price from $305,000 to $799,000.

A 4 bedroom,4 bath townhome at 502 20th street which was listed for $719,000 SOLD 3/21/2009 for $617,000. This was on the market for 570 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

Stone Harbor Real Estate Market March 29 to April 5th 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 29 to April 5th,2009.

There are currently 118 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 64 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 $729,936
Average Days on the market - 277 days
A beach front condo 9600 First Avenue Unit #1 is Under Contract. Listed for $845,000,this goes to settlement on may 15th after 81 days on the market.

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.
:

Five Ways to Wow Buyers

Here is excerpt from my April issue of Newsletter In Realty Times

These days, tax credits and high housing inventory make it a buyers' market. If you're a seller, don't despair. There are a variety of renovations that can help make your home stand out. Many buyers look at numerous homes when shopping for a house; so enhancing your home to make it more memorable is vital and increases the chances of a successful sale.

Clearing clutter, taking down personal photos, applying a fresh coat of paint, making minor repairs, and keeping a pleasant aroma are all basic techniques to make your home more appealing. But there are a few other creative enhancements that you can do to wow buyers without emptying your wallet. The results not only attract more attention, but also paint a picture of a well-cared-for home.

While not everyone has the same taste in housing, typically buyers are attracted to larger kitchens, extra storage space, light and bright rooms, and open floor plans. Special finishing touches on a home can be the needed incentive to generate an offer.

Kathy Gerstenberg has owned her home for nearly 20 years. Over the decades she's made many improvements but now she's considering selling and wants to make sure she gets top dollar in a down market. So, she's examining her home the way a buyer would.

"We live in a tract home and I know there are many homes for sale; we don't want ours to be seen as the same 'cookie-cutter' model as the others," says Gerstenberg.

With that in mind, Gerstenberg has carefully made enhancements that make her home more comfortable and aesthetically pleasing. "I wanted to do improvements that would catch a buyer's eye and also make it enjoyable for our family," says Gerstenberg.

As she scouts the market for her next home there are various aspects of a potential home that she notices right away. "I love crown molding and finished doors and windows," says Gerstenberg. She adds, "So many times builders just don't complete the look of a home but when you frame a door or window and add some crown molding to a room it gives it a finished look."

Industry experts agree; Americans are expected to spend $217 billion on remodeling in 2009. Here are five areas where homeowners may spend some of their remodeling money to add the "wow" factor to your home.

1. Go green. Energy efficient products and household goods are attractive to buyers. Renovations or replacements that help make the house more energy efficient are popular. Things such as better insulation, replacing old windows, caulking, and adding skylights can increase value.

2. Crown molding and wider baseboards. Some homeowners are shy to experiment with this, especially if they live in a small home, but it can be very attractive in any size home. Wider baseboard. The measly baseboard that builders often use in tract homes doesn't draw attention. Adding a wider baseboard and a fresh coat of paint makes the room come to life. Also, framing windows and doors helps complete the look of a room.

3. Textured paint. Faux finishes, accented walls, or even just a little fresh paint on them makes a lasting impression. Choose colors and textures wisely. Don't get carried away with a color you love (e.g. purple walls—I've seen it in a home for sale). Remember, that you want your home to appeal to the masses. You can always paint your new home purple—and then change it when it comes time to sell it!

4. Improved flooring. Wood, tile, and new carpet can be a showstopper. But if the flooring is chipped, torn, or dirty, you'll get the opposite reaction from buyers. They'll think your home hasn't been cared for properly which could result in a lower offer -- or no sale at all.

5. Add a deck. Adding a deck can add value to your home. It's a nice feature in a yard and many buyers are happy to purchase a home that already has a deck so that they don't have to take on that home improvement project.
For more of my newsletter,click here http://realtytimes.com/125/NancyAlexander


Written by Phoebe Chongchua 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 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.
:

Avalon New Jersey Sales Activity for the Weeks of March 10th to March 29, 2009

Avalon Sales Activity for the Weeks of 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 Avalon Real Estate Market Activity.

There are currently 223 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.

There are thirteen single family homes now Under Contract in Avalon.
A 4 bedroom,3 bath bay front home at 6600 Ocean Drive which was listed for $1,989,000 SOLD 3/21/2009 for $1,700,000. This was on the market for 365 days.


Condo/Townhouse Avalon
There are now 131 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

There are fourteen condos in Avalon now Under Contract ranging in price from $305,000 to $719,000.
A 4 bedroom,4 bath townhome at 502 20th street which was listed for $719,000 SOLD 3/21/2009 for $617,000. This was on the market for 570 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
,

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

Avalon New Jersey Sales February 22 to March 10, 2009

Avalon Sales Activity for the Weeks of 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 Avalon Real Estate Market Activity.

There are currently 222 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.

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


Condo/Townhouse Avalon
There are now 156 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

There are ten condos in Avalon now Under Contract ranging in price from $315,000 to $719,000.

Six condo units have Sold and Settled.
Three units at 7929 Dune Drive .One Sold for $340,000,and one Sold for $377,296,and one Sold for $417,025.

321 40th street, a 5 bedroom,4 bath unit listed for $775,000 SOLD for $700,000 on 2/27/2009 after 818 days on the market.

323 40th street, a 5 bedroom,4 bath unit listed for $825,000 SOLD for $722,500 on 2/27/2009 after 1000 days on market.
2008 N. Ocean Drive,a 4 bedroom,2.5 bath unit listed for $969,000 SOLD on 3/7/2009 for $890,000 after 153 days on 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,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 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.
:

Mortgages That Survived The Credit Crunch

Excerpt From My March Newsletter in Realty Times

Today's mortgages are a far cry from boom time home loans, but they do exist and some lenders have money to burn. "People used to qualify with stated income. Now there is more documentation. And they aren't just documenting your income, but looking for assets in addition to your income and low debt-to-income ratios and low loan-to-value ratios," said Asmaa Egal, mortgage broker, Loan Republic Financial in San Francisco.
The new brand of home loan has been customized with tighter controls and fewer defects to replace old mortgage models that crashed and burned when the economy hit the skids. "You have to qualify. You have to prove your income. They have make-sense underwriting," said, Quincy Virgilio, 2009 president of the Santa Clara County Association of Realtors.
FHA-insured mortgages
The new darling of the homebuyer set, Federal Housing Administration-insured mortgage programs, have been available for decades. especially for low- to moderate-income families who may not meet requirements for conventional loans.
But with new loan limits as high as $625,500, they've become especially attractive in high cost areas. FHA loans are expected to account for 25 percent of the mortgages signed in 2009, according to the National Association of Realtors. Because of previously lower loan limits, FHA loans amounted to less than 4 percent of homes sold from 2003 and 2006.
The new FHA model also comes with low down payments and eased credit requirements.
"They are much more lenient (compared to conforming Fannie Mae and Freddie Mac mortgages) on how they look at credit scores. The score can be in the 600s vs. 700s, said Cheryl O'Connor, a finance expert with O'Connor Consulting in Danville, CA.
FHA features include:
• As little as 3 percent down.
• Financed closing costs.
• A 1 percent (of the mortgage) ceiling on the amount lenders can charge for closing costs.
• No prepayment penalties.
• Relaxed debt-to-income requirements.
• FHA-approved lenders only.
• FHA-approved appraisals only.
Virgilio says buyers who don't have 20 percent or more down will pay an upfront mortgage insurance fee amounting to as much as 1.75 percent (of the loan) and a monthly mortgage insurance premium that effectively tacks on another 0.5 percent to the interest rate.
"But you can structure your loan with participation from the seller paying closing costs. Not down payment assistance, but closing costs, but in this marketplace the seller is going for that," said Virgilio.
The best rates (typically fixed, rather than adjustable) go to those who have financial reserves, savings or investments amounting to at least two months worth of a PITI (principle, interest, taxes and insurance) mortgage payment.
Likewise, the best deals go to buyers with a 30 to 33 percent debt-to-income ratio when the debt includes housing and all other monthly debt payments.
In addition to FHA home-buying loans, the "Housing and Economic Recovery Act of 2008" created "Hope For Homeowners" which allows troubled mortgage holders to avoid foreclosure by refinancing into a more affordable, FHA Secure mortgage, provided Uncle Sam gets a piece of the equity-growth action and provided the existing lender approves.
Members only
Credit unions largely survived the credit crunch because, as non-profits, the fundamentals apply. They take in deposits. They make loans based on sound underwriting principles. They charge more on those loans than they pay on deposits.
Without the profit motive, there was no incentive to get involved in the subprime racket, no reason to sell and repackage loans as investments and no need to otherwise venture into untried and untrue investment schemes.
Along with fixed-rate 30-year mortgages at rates often lower than banks they also offer conventional adjustable rate mortgages (ARM) and hybrids all with rates typically lower than conventional lenders. "Credit unions have a tendency to be more lenient if you have a bank account with a credit union," O'Connor said.
Credit union originations rose a whopping 10.1 percent during the first half of 2008, according to the industry's federal regulator, the National Credit Union Administration (NCUA). Conventional mortgage lender loan originations took a nose dive, falling 17 percent during the same period.
Rural home loans
Don't get your knickers in a knot over the term "rural." Loans backed by the United States Department of Agriculture's (USDA) Rural Development Housing and Community Facilities Programs are limited, but you don't have to grow corn or raise chickens.
The loans are for:
• People living in designated rural areas where the population is less than 20,000.
• People with incomes under 115 percent of household median income for the area. In most areas, the upper income limit for borrowers will be $60,000 to $70,000 per year.
• People buying homes, not refinancing or taking out equity loans.
USDA Programs include no-money down loans, home improvement and rehabilitation loans and grants, construction loans, loans for minorities and true to the work-ethic of rural life, sweat-equity loans that require buyers to help build their own homes.
Local, state agencies
O'Connor says don't overlook local -- city, county and state -- housing assistance programs that often cater to first-time and or low- to moderate-income home buyers as well as government and service workers including teachers, police officers and fire fighters.


Written by Broderick Perkins
Read the rest of my March Newsletter here http://realtytimes.com/124/NancyAlexander

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