New Designs In Cabinet Refacing

You may be one of the fortunate homeowners whose kitchen just needs an update instead of a full remodel. Cabinet refacing is an economical option that can give your kitchen a quick makeover in no time. Rather than gutting your cabinets and replacing them with new ones, cabinet refacing allows you to update the exterior of the cabinets you already have. It's also a fabulous way to add contemporary design elements to your space, both with cabinet doors, colors and hardware. Let's take a look at the latest designs in cabinet refacing.

Beginning Steps
Before starting a project, determine if cabinet refacing is the best fit for your existing space, budget and long term plans. Refacing is an economical option for updating your kitchen's aesthetic, but it relies on your existing cabinets' framework.

If there is extensive damage or signs of wear that could impact the longevity of the cabinets, a full remodel with new cabinetry may be a more sensible option. The cabinetry body should be able to withstand the refacing project and last at least 10 years. If your cabinetry was built with less durable materials or outdated craftsmanship, it may be better to look into a full upgrade instead.

A Modern Approach
Utilize sleek designs and contemporary finishes when refacing your cabinetry to bring a modern touch to the heart of your home. Glossy cabinets can be paired with angular polished nickel pulls for a unique balance of sophistication and subtlety.

When it comes to modern style, the simpler, the better. If you're looking to make the complete jump to modern design, consider a frameless, full-overlay style cabinet when refacing. This style is used in most modern kitchens because it's much more streamlined that a flush-inset cabinet and adds an extra bit of sheen.

Add contrast with a spectrum of colors or finishes, and don't be afraid to take advantage of pre-painted or repurposed options that give your kitchen space a little oomph. In homes where existing kitchens seem overtly traditional, contemporary cabinet styles and remodeled elements like beveled subway backsplash and consistent finishes help add a modern spark.
To finish the look, keep the accessories and added accents to a minimum - mirrored glass, smooth textures and organic materials are the perfect complements to this kitchen style.

Totally Transitional
The key to creating a transitional oasis is to play up crispness and natural surfaces. When refacing your cabinetry, look for styles that have a streamlined look just short of an ultra-modern aesthetic. For example, simple paneled doors made of wood with sleek hardware are the perfect transitional combination. Transitional kitchens also pair beautifully with glass paneled cabinet doors and toppers that bring the look of cabinetry up to the ceiling for a statuesque finish.

Another style that fits this aesthetic is the classic Shaker door. It can be brought up to date by pairing contemporary elements like sleek bronze hardware with bright white Shaker cabinetry or a warm, classic wood finish.
Wrap up your refacing project by paying attention to extra details that show off your new cabinets. A clean, neutral color palette is very characteristic of a transitional space, and typically features a monochromatic yet warm look with just a few bold punches of colors through accessories, dishes and upholstered furnishings like chairs or stools.

Time for Traditional
Take your traditional kitchen to the next level with classic detailing and design elements that spark nostalgia. Architectural details are important to maintaining a traditional aesthetic. A bit of embellishment or adornment speaks volumes in a classic space, and any way to add moldings, arches and raised paneling is encouraged. Crown molding and posts add a mature look as well as much-needed depth and dimension. Beadboarding and paneling are great ways to bring the traditional aesthetic to your kitchen without having to add too many other elements.

Other ways to create a classic aesthetic through refacing include glazed or antique finishes, flush inset or framed paneling and decorative door inserts. Then, take your kitchen from zero to 60 with a classic apron-front sink, ornate decorative lighting and a metal, plaster or stone range hood to pull out all of the traditional stops.
All of the styles mentioned above feature new and evolving trends in the kitchen cabinetry world. Easy to install and even easier to love, refaced cabinets bring a whole new world of design elements to any kitchen remodel, from modern approaches like overlay designs to a traditional setting featuring antique finishes and classic beadboard techniques. What are some new refacing designs that you would add to your own kitchen?

Kerrie Kelly is a Sacramento, California based interior designer who heads up Kerrie Kelly Design Lab. Kerrie provides design tips on topics such as updating your kitchen. She advises readers on everything from the color of the cabinets to the overall style to picking the hardware. To find out more about kitchen cabinet refacing, visit The Home Depot.

Written by Kerrie Kelly, ASID



Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Escrow For Taxes And Insurance: A Thorny Issue

I have received a large number of questions dealing with various aspects of the escrow for taxes and insurance issue. This column will attempt to highlight what lenders can do and what they cannot do in this area.

Lenders like to escrow funds for future payment of real estate taxes and insurance. If, for example, your real estate taxes are $1,200 a year, the lender will charge you $100 per month over and above your regular mortgage payment, and this $100 per month will be held by the lender. The theory is that at the end of the year, the lender will have accumulated, on a monthly basis, $1,200, and will then be able to pay your real estate taxes out of these escrowed funds.

State laws differ dramatically, and you should check with your own attorney to determine what your local law permits. For example, in some states, a lender is required to pay interest on these escrowed funds. In many states, however, there are no such requirements, and the lender keeps your escrow interest-free

The theory behind the escrow makes sense. Lenders are concerned that if you do not pay your annual real estate taxes or if you do not pay your annual insurance premium, the lender's security will be affected. Indeed the lender could lose the property if it burns down to the ground without insurance, or if the local government sells the property at a tax sale for non-payment of those real estate taxes. Thus, in theory, lenders want to make sure the real estate taxes and the insurance are paid, and thus they establish an escrow.

We often hear a lender refer to P-I-T-I. This stands for payments of principal, interest, taxes and insurance.

In the District of Columbia, for example, if you put down 20% or more cash equity, and the lender's loan is 80% or less of the market value of the property, the lender must give you an election. You can pay your own taxes and insurance, or the lender will escrow and pay these items for you.

Unfortunately, while the theory makes sense, in my opinion the primary reason for wanting these escrow accounts is that lenders accumulate huge sums of money which they can use for their own benefit, without paying interest to the consumer.

Let's face it. Most people will pay their real estate taxes and their insurance premiums, since they do not want to lose their house, or have the house uninsured in the event of a calamity. And for those borrowers who stop making their mortgage payments, the escrows also stop.

Many years ago, the Congress of the United States adopted the Real Estate Settlement Procedures Act, which, among other things, regulates these escrow accounts.

Here is a summary of the law:

It should be pointed out this law applies to all "federally related mortgage loans." This is a very broad category, and includes loans which are secured by a first lien (deed of trust or mortgage) on residential real property including condominiums and cooperatives, and is either insured or guaranteed by a governmental agency such as the Federal Housing Administration or the Veterans Administration, or is intended to be sold by the originating lender to such secondary mortgage markets as the Federal National Mortgage Association (FannieMae) or the Federal Home Loan Mortgage Corporation (FreddieMac).

Under the law, at the initial settlement, a lender has the right to require a borrower to deposit in any escrow account to be established for the payment of taxes or insurance a sum not to exceed the amount of these actual charges, plus one-sixth of the estimated total amount of these taxes or insurance premiums.

In our example, if the taxes come due in January, and you are settling in August, your first month's payment will not become due until October. For the months of October, November and December you will make three months escrow payments. Since the lender will require a full year's payment in January, it has the right to escrow nine months at settlement, plus one-sixth of the total amount, or in other words, an additional two months' worth of escrow. These funds are to be held by the lender and paid when the taxes come due.

Basically, the same rules apply for escrow requirements after the settlement takes place on a continuing yearly basis. In other words, the lender has the right to hold two additional months escrow, on the theory that if you are delinquent in one or two of your monthly payments, the lender will still have sufficient funds by tapping into this two months' surplus.

If there is a deficiency in the escrow account, caused, for example, by an increase in the taxes, the bank can, of course, ask you to make up that deficit.

On an annual basis, whoever services your loan must send you a statement clearly itemizing "the amount of the borrower's current monthly payment, the portion of the monthly payment being placed in the escrow account, the total amount paid into the escrow account during the period, the total amount paid out of the escrow account during the period for taxes, insurance premiums . . . (as separately identified) and the balance in the escrow account at the conclusion of the period." This statement must be submitted to each borrower not less than once a year.

There are penalties associated with a lender's failure to comply with this law, but the courts are divided as to whether a consumer has the right to take the lender to court for violation of this law. One court has indicated the only remedy is to go to the appropriate governmental agency, and another court has indicated that the consumer has an individual private remedy in court.

Once you receive the annual statement, you must review it carefully. Confirm with your taxing authority and with your insurance company exactly when the payment is due, and the amount of that payment. Sit down with a calculator and determine whether the lender has properly calculated the amount of the escrow. Congressional testimony has uncovered many errors made by mortgage lenders, some in favor of the borrower and others in favor of the lender.

Here is a suggestion you should follow. When your real estate taxes and your insurance premiums are due, and if your lender is paying these items for you, write the lender and ask them for confirmation that your taxes and insurance have in fact been paid. I have been involved in too many cases where a lender, usually inadvertently, has failed to make the annual real estate tax payment, or pay the annual insurance premium, causing significant aggravation and heartache to the consumer. While the lender is legally obligated to make payments out of the escrow account, you, the consumer, are the one who will be affected, and the burden should be on you to assure yourself that these payments are, in fact, made.


Written by Benny L. Kass



Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Get Your Outdoor Living Area Ready For Summer

As with the inside of your home, outdoor living areas need attention and care to keep them looking their best. While you may not need to dust or vacuum your deck and furniture, there are a few maintenance chores that will get the warm-weather living off to a good start.

Preparing Your Deck
Before you bring out your furniture, give the deck a good sweeping. Make sure you remove leaves and other debris from between the deck boards. Then, take a few minutes to inspect the deck.

• Make sure the deck components are structurally sound. Railings should be firm and not wobbly. There should not be any give in the decking when you walk across it.
• Drive in any nails or screws that have popped above the surface. If the fastener won't hold in its original position, drive in a new fastener nearby.
• Inspect the deck's framing if possible. Pay attention to intersections, such as where joists meet beams. Use a screwdriver or an awl to poke any suspect area. If the tool sinks into the wood easily, the wood could be rotting.
• Examine where the deck attaches to the house. The point of attachment is called the ledger board, which should be installed with through bolts or lag screws designed for ledger attachment - not simply nailed - to the framing of the house. There should also be flashing that diverts water from the ledger.

If you do find problems, especially on supports or where the deck connects to the house, call in a professional to get them fixed right away.
If the deck has been well maintained, simply hosing it off may be all the cleaning it needs. But if a more thorough cleaning is needed, use a product that is recommended for the material of the deck. For composite materials, use a cleaner recommended by the manufacturer.
You should always follow the directions on the label of the cleaner, but here are some general guidelines:

1. Sprinkle some water on the deck before beginning. If the water is absorbed into the deck quickly, you may need to apply a waterproof sealer after cleaning.
2. Cover surrounding plants with a plastic tarp.
3. Give the deck a thorough sweeping.
4. Mix the cleaner as directed and apply using a sprayer, or brush the solution onto the deck using a push broom.
5. Most cleaners should remain on the deck for a few minutes to loosen dirt and stains. Keep the surface of the deck wet during that period.
6. Go over the deck with a stiff broom. Use a scrub brush on the railings and stairs.
7. Rinse as directed.
8. If necessary, apply the sealer following the directions on the label after the deck has dried completely. This process that could take three or four days.

If the deck boards are beyond repair or you just want to upgrade the look of the deck, consider removing the decking and railings and installing new material over the old framing. Chances are the framing is made of pressure-treated lumber, no matter what the decking material. Most of the framing is covered and installed vertically so water can't puddle on it. If it is in sound shape, it can serve as the foundation for any new decking material.

Freshen Up Your Furniture
As with decks, outdoor furniture can use a little maintenance after a long winter - even if you stored the furniture indoors.

• Check all fasteners and tighten any that are loose.
• Revive finishes if necessary and remove any rust from metal furniture. Use a primer that prevents rust before touching up the piece with paint. Give wood furniture a fresh stain or coat of paint.
• Clean the furniture as recommended by the manufacturer. In general, it's safe to wash everything using a mild soap and water. Don't use any cleaner containing chlorine or an abrasive material unless the manufacturer says it won't harm the furniture. Use a wood-safe product like Murphy's Oil Soap to clean up wood furniture.
• Protect the furniture depending on its material. Apply a thin coat of automobile wax to aluminum furniture to keep out moisture. An exterior varnish will protect wood from the damaging ultraviolet rays of the sun, and it will expand and contract with the wood to prevent cracking of the finish. Help prevent fabric cushions from fading by applying an outdoor fabric protector.

Outdoor parties usually mean sunscreen - which in turn means sunscreen spills. And if you have a pool or spa, there will be wet bathing suits laden with chlorine and other chemicals left out to dry. To keep furniture looking good all summer, clean up any spills or damp spots as soon as they happen. Give the furniture a rinse with clean water and allow cushions to dry thoroughly. Outdoor slipcovers will also help prolong the life of your furniture. Use them throughout the season during periods when the furniture is not in use so you'll be ready when summer rolls around again.

Written by Realty Times Staff

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Avalon and Stone Harbor NJ Weekly Update May 4th, 2017

BEACH REPLENISHMENT WORK resumed last weekend as the dredge Texas returned from Cape May and began pumping sand onto Avalon’s north-end beaches.  The Texas underwent maintenance work and completed a small project while in Cape May.  Now that it’s back in Avalon, it is expected to operate around the clock until beach work is completed, stopping only for unsafe weather conditions or mechanical issues.  The current phase of the project is expected to be completed about May 20^th.  The final phase will entail pumping sand through a submerged pipe onto beaches in Avalon’s hotel district and Stone Harbor’s north end.  That portion of the project is expected to conclude about June 20^th.
 
BRIDGE UPDATES:  150-foot pipe piles will be installed to support the Townsend’s Inlet Bridge.  Three piles will be placed underwater at each end of one of the bridge support piers, then welded and bolted to the support structure.  
Officials hope to have the bridge open to vehicular traffic by Memorial Day Weekend. 
Repair of the 96^th Street Bridge is also underway, with overnight closures expected from 10pm to 5am, Sunday through Thursday nights until Memorial Day Weekend.  From Memorial Day Weekend until June 9^th, bridge closures will be restricted to Monday through Thursday nights.  Lane closures are possible, too.  The project is expected to be finished by June 9^th; if it is not, work will be deferred until the fall.
 
BIG BLUEFISH, AND LOTS OF THEM!  That’s the word among local fishermen who have caught  numerous bluefish of good size in the back bays and in the surf.  The Atlantic City Press reported that Tammie of Avalon Hodge Podge has weighed bluefish over eight pounds, and one that was over nine pounds.
 
 

A plume of water and sand land on Avalon’s beach during replenishment operations.

LOCALS RIDE FREE on the Cape May-Lewes Ferry Sunday, May 7^th!  A photo ID with a local zip code will save you the $18 round-trip foot passenger fare.  The ferry ride across the mouth of Delaware Bay and back is delightful—on any given trip you’re likely to see ships, boats, dolphins, or a sunset.  To book, visit www.cmlf.com by Saturday, and use the code “Tourism”.
 
THE BEST MEMORIES are made on shore vacations!  Why not make it permanent?  If you’d like to find the perfect shore home, let’s get started!  Call or email me—I’ll listen to your needs and help you find the ideal place for your family to enjoy!
 
UPCOMING EVENTS:

• Avalon Historical Society Photography Contest and Exhibit, visit www.avalonhistorycenter.org for info, photos will be on display throughout the month, contest runs now throughout the month of May
• Avalon’s Bulk Pick-up, items to curb from May 5 through May 14 with pick-up beginning on Monday, May 15
• 12^th Annual Golf Tournament for Brendan’s Fund, www.brendansfund.org for info, Stone Harbor Golf Club, 10AM, Friday, May 5
• Avalon Garden Club Plant Sale, Community Hall, Noon-4PM on Friday, May 5 & 9AM-4PM on Saturday, May 6
• Stone Harbor’s Spring Tide Festival, visit www.stoneharborbeach.com for info, 96^th Street, 11AM-5PM, Saturday, May 6
• Avalon Wine & Spirits Festival, 200 high-end wines & spirits, hors d’oeuvres by island restaurants, silent auction, music, go to www.visitavalonnj.com for info, Avalon’s Community Hall, 6:30PM, Friday, May 12
• Avalon’s paper shredding day, Firehouse hoagie sale, Bicycle auction, Lions Club yard sale, www.avalonboro.net for info, Saturday, May 13
• Avalon Yard Sale, map pickup at 8AM at Avalon Community Hall, Saturday, May 13
• Stone Harbor Garden Club Plant and Bake Sale, 95^th Street Water Tower Plaza, 8AM-1PM, Saturday, May 13
• Cops and Coffee Event with the Avalon police, Pudgie Pelican Restaurant, 9AM, Saturday, May 13
• Wetlands Institute Native Plant Sale, 9:30AM-4:30PM, Saturday & Sunday, May 13 & 14
• Stone Harbor’s Bulk Pick-up, items to curb up to 72 hours prior to pick up on Monday, May 15
• Bishop McHugh’s 17^th Annual Golf Tournament, Stone Harbor Golf Club, www.bishopmchugh.com for info, 11AM, Friday, May 19
• Stone Harbor Garden Club Community Yard Sale, Women’s Civic Club on 96^th Street, 8AM-2PM, Saturday, May 20
• Mayor’s Cup Bocce Tournament and Avalon Borough’s 125^th Anniversary Celebration, www.avalonrecreation.org for info, ceremony at 9:30AM, Mayor’s Cup and activities at 10AM, Saturday, May 20
• Wetlands Institute Spring Shorebird & Horseshoe Crab Festival, www.wetlandsinstitute.org for info, 9:30AM-4:30PM, Saturday & Sunday, May 20 & 21
• Cape May Traditional Jazz Society Presents Midiri Brothers Traditional Jazz, proceeds donated to the Food Bank of Southern Jersey, VFW Post #386, 419 Congress Street, Cape May, 2-4PM, Sunday, May 21
• Stone Harbor Beach Opening Ceremony, 95^th Street & the beach, 9:30AM, Friday, May 26
• 15^th Annual Turtle Trot 5K & 2 Mile Fun Walk, 95^th Street & First Avenue, 6:45AM registration, 8AM race, 8:05AM fun walk, Sunday, May 28
• Stone Harbor’s Farmers Market, 95^th Street & Water Tower Plaza, 8AM-12:30PM, Sunday, May 28
• NFIP Flood Insurance Seminar, bring your flood elevation certificate for a free review, Stone Harbor Library, www.stoneharborbeach.com  for info, 1-3PM, Saturday, June 17

 
 
New Listings:

208 99th Street, Stone Harbor, $574,900, ACTIVE MLS#: 176016

281 29th Street, Avalon, $839,000, ACTIVE MLS#: 175988

3361 Ocean Drive, Avalon, $929,000, ACTIVE MLS#: 175907

7830 Ocean Drive, Avalon, $988,000, ACTIVE MLS#: 175913

225 29th Street, Avalon, $997,000, ACTIVE MLS#: 175982

238 59th Street, Avalon, $1,695,000, ACTIVE MLS#: 175956

4525 Fourth Avenue, Avalon, $1,895,000, ACTIVE MLS#: 175996

3049 First Avenue, Avalon, $2,795,000, ACTIVE MLS#: 175925

11910 Third Avenue, Stone Harbor, $3,695,000, ACTIVE MLS#: 175922

11219 Third Avenue, Stone Harbor, $4,395,000, ACTIVE MLS#: 175942
  

Properties Sold:
 
8300 Second Avenue, Stone Harbor, $460,000, SOLD MLS#: 174497

173 33rd Street, Avalon, $477,500, SOLD MLS#: 171004

700 First Avenue, Unit 312, Avalon, $495,000, SOLD MLS#: 174307

579 22nd Street, Avalon, $547,000, SOLD MLS#: 172999

8201 Third Avenue, Stone Harbor, $605,000, SOLD MLS#: 174531

10108 Third Avenue, Rear, Stone Harbor, $699,000, SOLD MLS#: 151858

249 101st Street, Stone Harbor, $1,275,098, SOLD MLS#: 173399

4308 Ocean Drive, Avalon, $1,675,000, SOLD MLS#: 172357

7589 Ocean Drive, Avalon, $1,825,000, SOLD MLS#: 172738

312 114th Street, Stone Harbor, $2,400,000, SOLD MLS#: 172384



Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Avalon and Stone Harbor NJ Weekly Update April 27th, 2017

THE NUMBER OF SALES & THE MEDIAN SALE PRICE have increased over last year, while the number of active listings has decreased.  33 properties sold last month in Avalon & Stone Harbor, and  35 more were placed under contract.  For the latest Long & Foster Market Minute report click here: http://marketminute.longandfoster.com/Market-Minute/NJ/Avalon-Stone-Harbor.pdf

Click above for the latest Long & Foster Market Minute report.

THE TOWNSEND’S INLET BRIDGE remains closed, but temporary repairs may be completed in time for it to reopen for the Memorial Day Weekend and the summer season.  Permanent repairs will be made next winter.  Locals and visitors alike are hoping the bridge will be open, preventing the need to take “the long way around,” which can take a half hour or more in summer traffic.  The bridge has been closed since a routine inspection revealed a crack in the structure 20 feet beneath the water’s surface.

OTHER BRIDGES in Cape May County are undergoing fender replacement projects, providing protection to bridges from passing marine traffic.  Two bridges over the Cape May Canal, plus one over Grassy Sound and one over Beach Creek (both on North Wildwood Boulevard) will have their existing fender structures replaced, including timber piles. 

WINE TASTING, ANYONE?  Two upcoming events will delight wine tasters!  On Friday, May 12^th the Avalon Wine & Spirits Festival takes place at Community Hall.  For details and tickets, click here: http://visitavalonnj.com/node/1616
On Saturday, May 13^th the Klink! Wine Tasting Event will be held in Atlantic City at the Resorts Casino Hotel.  For details and tickets, click here:  https://resortsac.com/entertainment/wine-tasting-atlantic-city/

SPRING CLEAN UP TIME!  It’s time to clean up and clean out!  In Avalon, bulk trash items can be placed curbside Saturday, April 29^th through Monday, May 8^th.  In Stone Harbor, bulk trash items can be placed curbside up to 72 hours prior to the Monday, May 15^th pick up date.

ANOTHER OPTION for new or gently used furniture, applicances, and home accessories is Habitat for Humanity’s ReStore in Cape May Court House, where donations are warmly welcomed.

PLANNING AHEAD FOR SUMMER FUN?  You can put “Fireworks!” on your calendar twice this summer!  Stone Harbor’s fireworks display will take place Sunday, July 2^nd, followed by Avalon’s on Tuesday, July 4^th.  Catch them both and really stretch out the holiday weekend!

UPCOMING EVENTS:

• Avalon’s Bulk Pick-up, items to curb from Saturday, April 29 thru Monday, May 8 with pick-up beginning on Tuesday, May 9
• Avalon Historical Society Photography Contest and Exhibit, visit www.avalonhistorycenter.org for info, photos will be on display throughout the month, contest begins on Monday, May 1
• 12^th Annual Golf Tournament for Brendan’s Fund, www.brendansfund.org for info, Stone Harbor Golf Club, 10AM, Friday, May 5
• Avalon Garden Club Plant Sale, Community Hall, Noon-4PM on Friday, May 5 & 9AM-4PM on Saturday, May 6
• Stone Harbor’s Spring Tide Festival, visit www.stoneharbor.org for info, 96^th Street, 11AM-5PM, Saturday, May 6
• Avalon Wine & Spirits Festival, 200 high-end wines & spirits, hors d’oeuvres by island restaurants, silent auction, music, go to www.visitavalon.com for info, Avalon’s Community Hall, 6:30PM, Friday, May 12
• Avalon’s paper shredding day, Firehouse hoagie sale, Bicycle auction, Lions Club yard sale, www.avalonboro.net for info, Saturday, May 13
• Avalon Yard Sale, map pickup at 8AM at Avalon Community Hall, Saturday, May 13
• Stone Harbor Garden Club Plant and Bake Sale, 95^th Street Water Tower Plaza, 8AM-1PM, Saturday, May 13
• Cops and Coffee Event with the Avalon police, Pudgie Pelican Restaurant, 9AM, Saturday, May 13
• Wetlands Institute Native Plant Sale, 9:30AM-4:30PM, Saturday & Sunday, May 13 & 14
• Stone Harbor’s Bulk Pick-up, items to curb up to 72 hours prior to pick up on Monday, May 15
• Bishop McHugh’s 17^th Annual Golf Tournament, Stone Harbor Golf Club, www.bishopmchugh.com for info, 11AM, Friday, May 19
• Stone Harbor Garden Club Community Yard Sale, Women’s Civic Club on 96^th Street, 8AM-2PM, Saturday, May 20
• Wetlands Institute Spring Shorebird & Horseshoe Crab Festival, www.wetlandsinstitute.org for info, 9:30AM-4:30PM, Saturday & Sunday, May 20 & 21
• Mayor’s Cup Bocce Tournament and Avalon Borough’s 125^th Anniversary Celebration, www.avalonrecreation.org for info, ceremony at 9:30AM, Mayor’s Cup and activities at 10AM, Saturday, May 20
• Cape May Traditional Jazz Society Presents Midiri Brothers Traditional Jazz, proceeds donated to the Food Bank of Southern Jersey, VFW Post #386, 419 Congress Street, Cape May, 2-4PM, Sunday, May 21
• Stone Harbor Beach Opening Ceremony, 95^th Street & the beach, 9:30AM, Friday, May 26
• NFIP Flood Insurance Seminar, bring your flood elevation certificate for a free review, Stone Harbor Library, www.stoneharbor.org for info, 1-3PM, Saturday, June 17

Featured Property:
Bayfront with dock & boat slip plus a pool!

39 Flamingo Drive, Avalon, $2,895,000, ACTIVE MLS#: 172466


New Listings:

234 21st Street, Avalon, $519,000, ACTIVE MLS#: 175864

904 Ocean Drive, Avalon, $899,000, ACTIVE MLS#: 175719

269 25th Street, Avalon, $950,000, ACTIVE MLS#: 175708

580 Avalon Boulevard, Avalon Manor, $1,050,000, ACTIVE MLS#: 175718

308 78th Street, Avalon, $1,095,000, ACTIVE MLS#: 175809

1100 Ocean Drive, Unit 312, Avalon, $1,299,000, ACTIVE MLS#: 175837

303 39th Street, Avalon, $1,599,000, ACTIVE MLS#: 175855

3108 Ocean Drive, Avalon, $1,650,000, ACTIVE MLS#: 175668

3106 Ocean Drive, Avalon, $1,650,000, ACTIVE MLS#: 175666

6 Pelican Drive, Avalon, $1,690,000, ACTIVE MLS#: 175697

505 24th Street, Avalon, $1,875,000, ACTIVE MLS#: 175731

161 25th Street, Avalon, $2,199,000, ACTIVE MLS#: 175808

36 E 9th, Avalon, $2,800,000, ACTIVE MLS#: 175712

226 108th Street, Stone Harbor, $3,095,000, ACTIVE MLS#: 175770

313 76th, Avalon, $3,195,000, ACTIVE MLS#: 175661

198 66th Street, Avalon, $3,295,000, ACTIVE MLS#: 175664

339 104th Street, Stone Harbor, $6,095,000, ACTIVE MLS#: 175711
  

Properties Sold:

7929 Dune Drive, Avalon, $300,000, SOLD MLS#: 174152

7929 Dune Drive, Unit 307, Avalon, $310,000, SOLD MLS#: 173932

8931 Second Ave. Unit 5, Stone Harbor, $451,587, SOLD MLS#: 173268

579 22nd Street, Avalon, $547,000, SOLD MLS#: 172999

295 78th Street, Avalon, $555,000, SOLD MLS#: 174920

266 21st Street, Avalon, $622,500, SOLD MLS#: 169345

242 29th Street, West Unit, Avalon, $640,000, SOLD MLS#: 173668

8124 Third Avenue, Stone Harbor, $665,000, SOLD MLS#: 166362

704 Old Avalon Boulevard, Avalon Manor, $670,000, SOLD MLS#: 173411

371 40th Street, Avalon, $782,500, SOLD MLS#: 169897

2607 Ocean Drive, Avalon, $820,000, SOLD MLS#: 174113

491 21st Street, Avalon, $875,000, SOLD MLS#: 173339

2928 Ocean Drive, Avalon, $900,000, SOLD MLS#: 171678

792 Sunrise Drive, Avalon, $1,075,000, SOLD MLS#: 172721

6592 Ocean Drive, Avalon, $1,160,000, SOLD MLS#: 174143

2179 Harbor Avenue, Avalon, $1,240,000, SOLD MLS#: 173777

288 63rd Street, Avalon, $1,500,000, SOLD MLS#: 173707

11020 Sunset Drive, Stone Harbor, $1,695,000, SOLD MLS#: 174177

304 77th Street, Avalon, $1,910,000, SOLD MLS#: 174466

33 W 12th Street, Avalon, $2,450,000, SOLD MLS#: 170253

45 E 16th Street, Avalon, $2,500,000, SOLD MLS#: 172596

11505 Paradise Drive, Stone Harbor, $2,526,950, SOLD MLS#: 174042

6902 Ocean Drive, Avalon, $3,800,000, SOLD MLS#: 171624

181 66th Street, Avalon, $4,750,000, SOLD MLS#: 172992

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Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Those with Bachelor’s Degrees More Likely to Own Home, Study Says

While it’s no news that having a college education can bring in higher wages, a new study shows that continued education may make you more likely to become a homeowner by age 30.

Recent findings from the Federal Reserve Bank of New York show that those with an education level of bachelor's degree and higher are more likely to own a home by 30—regardless of their student debt situation. Earlier studies have repeatedly shown that student debt impacts the homeownership rate, so this new information is positive for hopeful would-be homeowners who feel buried under their student loans.

“Past research has not been able to disentangle how different types of educational attainment and student debt interact to impact the likelihood of owning a home,” reads a blog post on the findings from Liberty Street Economics. The post continues: “Because we observe not only whether an individual owes student debt and has attended college, but also graduation status, level of degree obtained, and homeownership status, we are able to further disentangle the relationship between different education levels and homeownership.”

The study focused on those born between 1980 and 1986, and tracked their college attendance and homeownership rate by age. The study measured college attendance by entry into higher education by age 26 and defined student borrowers as those having any student debt at any point between ages 27 and 30. The study defined “homeownership” as having a mortgage at any time prior to age 30—an age that was normal in previous generations but has become less likely with the millennial generation.

The study found that college graduation, measured by highest degree attained, is undoubtedly associated with higher homeownership rates, regardless of debt status.

According to findings, among both graduates and non-graduates, those with student debt are again less likely to be homeowners (by age 30). The study found that by age 33, the homeownership rate for those who did not attend college is about two years behind that of those who attended college with debt but did not graduate.

Oddly, the study found that those who enter associate programs, accumulate debt, and then fail to graduate still own homes at a slightly lower rate than those who do not go to college at all (before age 30). After age 30, the two rates converge.

But is the amount of student debt related to levels of homeownership? The answer is yes. According to the study, those holding more than $25,000 of debt are less likely to own homes than those with smaller debt numbers.

To read the full report, click here.

Information provided by Rajashri Chakrabarti, Nicole Gorton, and Wilbert van der Klaauw, “Diplomas to Doorsteps: Education, Student Debt, and Homeownership,” Federal Reserve Bank of New York Liberty Street Economics (blog), April 3, 2017,

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

Buying A New House? 5 Things To Check Before Moving In

By Kara Masterson

Buying a new house is an exciting process that marks a new chapter in life. For many people, it's fun to shop around and tour different properties. When you're serious about purchasing a home, there are a few important parts of the property to check before you move in.

The Neighborhood

You should feel comfortable with the quality of the neighborhood, which will influence the value of your home. Look at the condition of the other homes and check to see if people are loitering at different times of the day. The house should also be in proximity to your job or nearby schools if you have children. Some individuals who don't have a family may want to purchase a home in a good school district due to the impact that it'll have on the value of the property.

Storage Space

The storage space that is available in the home influences how much clutter will be left out in the open. Look for plenty of storage space that is available in the bedroom closets or in the kitchen to ensure that you can comfortably fit everything that you own without feeling cramped.

Plumbing System

Run the faucets to inspect the water pressure and ask the owners if the pipes are insulated. Hire professionals to check if the radiators are working and if the hot water tank needs to be replaced soon.

The Roof

The roof is one of the most costly features of the home and protects the interior setting from damage due to environmental elements. Hire a professional roofer to determine the lifespan of the roofing material and if it needs any repairs. The tiles or shingles should be secure on the roof deck, and there shouldn't be any leaks present.

Sufficient Drainage

Many buyers make the mistake of overlooking the drainage on the property, but the feature can cause issues if they're not in good shape. Insufficient drainage can lead to severe structural problems in the building.

Although it can be easy to fall in love with a house, there are several areas to check before making an offer to ensure that you won't run into problems down the road. By taking the time to inspect each part of the property, you can have peace of mind knowing you're making a good investment.

Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

High Credit Card Balance? The New Normal

It’s no surprise that nearly three quarters of all adult Americans have at least one credit card. What may be surprising, however, is how much credit card debt we’re carrying. A January online poll from the National Foundation for Credit Counseling® (NFCC®) revealed that 56 percent of respondents carry $15,000 or more in credit card debt in their household, while only four percent declare themselves to be debt-free.

Unfortunately, high balances often lead to difficulty maintaining minimum payments and safeguarding your credit score. Before you come close to getting into credit card trouble, learn how to spot these early warning signs from the NFCC and take action:

Check your credit card usage regularly. Keep an eye on how and when credit cards are being used each month. If there is an increase in the number of times a credit card is used for purchases that had been covered in the past with cash, it could be a sign that you’re using credit to fill gaps in your budget. Instead of charging more often, look for ways to cut back to keep expenses in line with your cash flow.

Keep an eye on your balance. Each credit card comes with a credit limit. Your goal should be to keep the balance as low as possible compared to the limit. This makes payments more affordable and helps avoid running the risk of incurring costly penalties for overcharging. Stay out of trouble by paying off balances as quickly as possible, either all at once or by paying more than the monthly minimum payment.

Count your cards. Make sure plastic isn’t taking up too much space in your wallet. Federal Reserve data shows that Americans with credit carry nearly four credit cards on average. Most experts advise carrying less than that. If your number of cards is on the rise, consider consolidating. This makes it less stressful to keep track of payments and balances, which helps make debt management easier.

Source: The National Federation of Credit Counseling




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

The Economic & Environmental Advantages Of Housing Density

By John Voket

Did you know that housing density could serve to not only make housing less expensive, but help save the planet, too? This information comes from a newly released study.

"Right Type, Right Place: Assessing the Environmental and Economic Impacts of Infill Residential Development through 2030" represents the first comprehensive academic study of its kind. It was commissioned by Next10 (http://next10.org/right-housing), which is focused on innovation and the intersection between the economy, the environment, and quality of life issues.

Developed at the Terner Center for Housing Innovation and the Center for Law, Energy, and the Environment at UC Berkeley, the study asserts that building new homes on infill properties will spur economic growth, reduce household costs, and cut greenhouse gas emissions. Infill properties are defined as properties in already dense urban or suburban areas that are underused or vacant.

The study examines the effects of three development scenarios: "business-as-usual" where development follows the same pattern as it did from 2000 to 2015; "medium" infill which includes more infill and multifamily units; and "target" where all development occurs in infill areas.

The study advocates for the "target" scenario, estimating an increase in economic growth of $800 million per year in California compared to the "business-as-usual" scenario.

Researchers also predict that the "target" scenario will lead to a 1.8 million metric ton reduction in greenhouse gas emissions, the equivalent of taking 378 cars off the road. Infill development promotes more walkable neighborhoods resulting in decreased driving costs and lower utility bills, saving renters $312/year and homeowners $156/year.

Carol Galante, faculty director of the Terner Center, says the target infill scenario can only occur with "some additional policy changes at the local and state levels." Their recommendations include changing zoning to allow for more multifamily use, increasing allowed density, reducing parking requirements, and investing in public transportation.

The report also notes, however, that achieving this level of infill development will not be easy, because it will require policy changes at the local and state levels.




Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com

How Will Interest Rate Increases Affect Your Home Sale?

By John Voket

As the Fed began nudging up interest rates in March, I wondered what it might mean for the housing market. So we turned to K.C. Sanjay, Senior Real Estate Economist at Axiometrics.com, who recently blogged about the subject.

When examining the potential impact on the single family housing market, Sanjay makes the following points:

- About 5.5 million existing homes were sold in 2016, according to the National Association of REALTORS, and the annual pace of new homes sold averaged more than 563,000, according to the U.S. Census. We expect the pace of home sales to pick up moderately this year and next. First-time home buyers remain on the sidelines, and other structural issues surrounding the single-family market prevent robust growth. Existing home sales are expected to average 5.76 million per year over the next five years, the NAR said.

- Housing months of supply remained low in 2016 at 4.5 months. So Axiometerics expects this rate to pick up during the next three years.

- The pace of housing starts during the past few years has been dominated by multifamily. So Axiometrics expects this to change during the next three years, as the pace of single-family permits picks up.

- Mortgage rates are expected to gradually increase over the next three years, yet remain low.

- The increase in rates is a sign of increases in general economic conditions. Though there will be less savings and higher risk to consumers because of rising rates, higher income growth will mitigate some of the hurdle in the short-run.

- Having said that, buyers today may be more sensitive to increased rates than in the past, because of higher requirements to qualify, sluggish income growth and rapid acceleration in prices over the past three years. Low interest rates helped offset these drags.

When examining how Americans are going to pay for their new homes, Sanjay points to the 4.7 percent unemployment rate – which is below the “natural rate” of 5 percent. He added that increasing wage-growth numbers added sufficient evidence of the U.S. economy’s strength to move the rates higher.

Axiometrics forecasts an average jobs gain of over 200,000 per month from 2017-2021.



Nancy M. Alexander - Stone Harbor and Avalon NJ Real Estate NancyAlexander.com