Ocean City, Strathmere, Sea Isle City, Avalon, Stone Harbor, Longport, Ventnor, Margate


   
 
Shore Market Update
February 2017
Vol 8  Issue: 2
Circulation:  2768
THE SHORE SPRING BUYING SEASON IS IN FULL SWING
The "Spring" real estate market has started.  The largest surge of new property inventory comes onto the South Jersey Shore market between New Year's Day and Valentine's Day.  The increase in new properties coming to the market encourages motivated sellers to price their properties competitively so that they will sell quickly.  Now that the holiday season is over buyers are coming back to the shore market in droves.  Buyers that are interested in personal use of a property should make appointments to preview properties as soon as possible, before rentals are booked.  Budget conscious investor buyers, who chose to wait for the Spring buying season so as to limit carrying costs, are coming to the market looking to purchase good value properties and start booking their weekly summer rentals.  Whether you are buying, selling or investing in real estate, now is the time to be at the shore.  
WHERE THE ACTION IS....
Leading the barrier islands in pending sales this month are:  
the Wildwoods 66, Ocean City with 65, Sea Isle 28, Ventnor 23, Avalon 17, Margate 16 and Stone Harbor with 11 properties under contract. Our team sold 4 listings this past week. We accomplished this by price positioning our sellers to be the best value among their competition. All of the 4 listings received many showings and offers. We successfully "negotiated" the deals to a close and  will be professionally guiding them to settlement. In every case, our sellers realized the importance of understanding the data and then going into the trenches with us to go get their buyer.   Summer rentals are robust according to local rental managers, this is a good sign that the summer season could be another sell out!

UNDERSTANDING MORTGAGE RATE INDICATORS:
According to Kate Logue of Presidential Mortgage, weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, strong economic news normally has the opposite result. Home loan rates are based on Mortgage Backed Securities (MBS), a type of bond.

When you see these Bond prices moving higher, it means home loan rates are improving. When Bond prices are moving lower, home loan rates are getting worse. 

To go one step further, MBS may worsen or improve during a single day. Depending on how dramatic the changes are on any given day, this can cause rate changes throughout the day, as well as on the rate sheets lenders start with each morning. 

Mortgage Bonds have not had a good run recently. Despite this, home loan rates are still in attractive territory.
WALTON TEAM - - NEW LISTINGS
Centrally Located Condo
1106 Central
Large 4 bed / 2 bath 2nd floor condo 
Click Photo for Details
Coming Soon
2208 Bay Ave
Single Family waterfront home with boat slip for under $1Million  


Walton Team Recent Sales
3106 West - 3 bedroom single family - $445k SOLD
925 Bay - Spacious newer 1st floor condo $431k - Under Contract 
5634 Asbury - Beach block 2nd floor condo $439k - Under Contract
1008 Wesley #204 - 1 bedroom condo $190k - Under Contract 
MARKET ACTION
January 2017

New Listings:
201
Under Contract:
67
Sold:
70
In This Issue
Shore Spring Buying Season
Where the Action Is
Mortgage Rate Indicators
New Listings
Featured Listing
OCEAN CITY EVENTS:  
     
 
 
Who do you know that is looking to buy , sell or invest in real estate
 that could use our help?    Please call or text The
Walton Real Estate Team
 
John Walton:
609-338-7667
 
Stacy Demcher
610-662-0919
 
 
    FEATURED LISTING:
 

This could be your view!
4 bedrooms
3.5 bathrooms
 
Townhouse with 3 decks on open bay with boat slip
 
 
25 W 6th Street, Ocean City


CLICK PHOTO FOR DETAILS!

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