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2019 is off to a brisk start. If you want to experience something new and entertaining on your list of New Year's resolutions, how about a visit to Seven Mile Island? We are already gearing up for the warmer season ahead. Scroll down for rental features for your family vacation and ongoing events. If you have news, please share. We would love to hear from you.
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150-Year-Old Shipwreck in Stone Harbor
Everyday life may bring something new and unexpected ... in this case a very old vessel was revealed on the southern part of the beach in Stone Harbor. Experts say the 25-foot long shipwreck could be an 1880's schooner. One theory is the wreck is part of the schooner D.H. Ingraham that burned and sank very near here in a blinding snowstorm in 1886. Visitors trekked down the beach to see wood ribs and timbers held together with wood pegs and copper nails. According to Jonathan LaKose, OEM Coordinator, "At the time it was discovered we had a strong southeast gale that came through here, and it's my assumption that that caused shifting sands to expose it. My best guess, we'll get a northeast gale and most likely cover it back up." Source: Associated Press, 6 ABC.
Photo Source: Geek.com
Flood Insurance Policies and the Federal Government Shutdown
The National Association of Realtors (NAR) has won a significant reversal from FEMA and the Administration. Home sale transactions can proceed without interruption as Congress renewed the flood insurance program in late December. FEMA is able to issue and renew flood insurance policies without any lapse of service. The flood insurance program has been extended until May 31st. The sales market can continue without any disruption thanks to the strong presence of the realtor's national organization.
Mandatory Safety Code Change
Single station battery operated smoke alarms are required to have a sealed, 10-year battery effective January 1, 2019. It is recommended that upgrades be made immediately. There is no grace period and there are no exceptions. This code does not include the 110-volt interconnected smoke alarms or wireless smoke alarms with a battery backup. For additional information, contact the NJ Division of Fire Safety 609-633-6717.
If you are selling your home, renting your home, or just want to be safe, pay attention to the newest improved code requirements for individual smoke alarms. New smoke detectors are available at Lowes, Home Depot and Ace Hardware in Stone Harbor. You may not pass a rental inspection or transfer inspection if you have the old smoke alarms in place. For more information call the boroughs of Avalon 609-967-5920 or Stone Harbor 609-368-5102 for more details
Avalon 35thStreet Construction Project
New water and storm water service is coming to 35th Street between First Avenue and Dune Drive starting January 11th to be completed by Memorial Day Weekend. The Borough of Avalon received grant funding for the project from the NJ Department of Environmental protection. Local traffic only and no parking restrictions during the project.
Market Trend Update for Year End
I hope the holidays were joyful and full of time with family and those you love. We are into 2019 with exuberance as tenants are booking their summer vacations and new home owners in search of their new vacation home.
If you want to be here this summer call my rental assistant Andrea Gill TODAY! (609-967-1625 x 3112). Inventory for vacation rental homes continues to be depleted particularly for prime time. If you are buying, I am here for you to talk about the market and the best opportunity in Avalon and Stone Harbor.
As we close the books on 2018 we ended up with a positive report showing homes under contract slightly ahead of the prior year of 2017 by 1.8%. (Reported as of 1/4/19) Avalon continues to dominate the market with 70% of the sales as compared to a 68% market share in 2017. Sales in Avalon had a 4.5% increase while Stone Harbor saw a decrease of 4%.
Interest rates for jumbo loans started the year at 3.875% as compared to January 4, 2018 at 3.75%. Conforming loan rates had an increase of .5% to 4.5%. We have not seen any negative effect on our market due to fluctuation in interest rates.
If you are considering selling give me a call today. Learn how your home value sits in today's market. Don't wait until the onslaught of new homes hits the market mid-February. Be proactive and list early. Subscribe to the "early bird gets the worm" proverb!
While inventory levels began to rise a bit key categories still remain at below average levels. While we have 17% more single homes available for sale than this same time last year, this inventory is heavily weighted in the upper end. Condo/townhome inventory is off 27% compared to the same time as last year. If this continues we will have less to offer today's buyers. It would be a tremendous benefit for you to have a professional real estate expert watching the market every day - someone aware of new opportunities even before they hit the market to give you a head start on the new inventory.
The Ferguson Dechert sales team reach sales of 1/2 a billion dollars in 2018 and continues to dominate the Seven Mile Island market with 34.6% of the sales occurring in our office. Our team participates in more sales than the combined sales of the next three sales teams; 43% MORE than the next closest sales team. In Avalon our team participates in more sales than the combined sales of the next 6 agencies representing 42.6% of the total sales in Avalon.
I had an exceptional sell-through rate for both my listings and my buyers in 2018 - one of my strongest years ever across all categories and price ranges. I am confident I can locate the right home for you, if you are buying, OR the buyer for your home if you are selling.
If I can answer any questions please let me know. I will provide a market update specific to your needs Just give me a call (609-967-0289). In the meantime have a great January and enjoy the football playoffs. Hoping the Eagles will be in it to the end! ~ Holly C. Rennie
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THIS MONTH'S MARKET TRENDS
133 Days until Memorial Day Weekend! Call to make your plans to come to Seven Mile Island!
Call us today 609-967-0289. |
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"See the world in a grain of sand and eternity in and hour."
-- Unknown |
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| 93 East 11th Street, Avalon, NJ 08202 |
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| 101 102nd Street, Stone Harbor, NJ 08247 |
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| 177 80th Street #202, Avalon, NJ 08202 |
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| 319 62nd Street , Avalon, New Jersey, 08202 |
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179 114th Street ,Stone Harbor, New Jersey, 08247 |
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| 4345 Fourth , Avalon, New Jersey, 08202 |
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226 67th Street , Avalon, New Jersey, 08202 |
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| 11817 Paradise ,Stone Harbor, New Jersey, 08247 |
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169 89th ,Stone Harbor, New Jersey, 08247 |
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| 238 77th , Avalon, New Jersey, 08202 |
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261 60th Street , Avalon, New Jersey, 08202 |
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| 10609 First ,Stone Harbor, New Jersey, 08247 |
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272 90th ,Stone Harbor, New Jersey, 08247 |
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| 4521 Ocean , Avalon, New Jersey, 08202 |
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818 1ST , Avalon, New Jersey, 08202 |
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8001 Second Avenue, $470,500, SOLD
MLS# 184148 |
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8218 Thied Avenue, $595,000, SOLD IN-HOUSE
MLS#: 181014 |
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700 First Avenue, $619,000, SOLD
MLS#: 184722 |
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663 21stsup> Street, $675,000, SOLD IN-HOUSE
MLS#: 184740 |
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10009 Sunset Drive, SOLD
MLS#: 184343 |
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241 28th Street, $895,000, SOLD
MLS#: 184311 |
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246 28st Street, $975,000, SOLD
MLS#: 184351 |
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455 21st Street, $1,180,000, SOLD IN-HOUSE
MLS#: 183383 |
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3588 Ocean Drive, $1,405,000, SOLD
MLS#: 181241 |
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148 21st Street, $1,455,000, SOLD
MLS#: 180793 |
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1248 Avalon Avenue, $1,525,000, SOLD
MLS#: 184020 |
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136 16th Street, $1,595,000, SOLD
MLS#: 181580 |
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- January 15th - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- January 16th - Senior Fund Day! Bridge & Cards, American Legion Post #331, 1 pm
- January 17th - Romance Book Club, Avalon Free Public Library, 6 pm
- January 17th - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- January 18th - Story Time, Avalon Free Public Library, 10 am
- January 18th - Zumba Gold, Stone Harbor Recreation, 11 am
- January 18th - Mahjong & Cards, Stone Harbor Recreation, 12:30 pm
- January 18th - Tea Time, Avalon History Center, 11 am
- January 18th - Classic Film "Rear Window", Avalon Free Public Library, 6 pm
- January 20th - Creative Writing, Avalon Free Public Library, 10 am
- January 20th - Fralinger String Band Performance, Avalon Library, 1 pm
- January 22nd - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- January 23rd - Senior Fund Day! Bridge & Cards, American Legion Post #331, 1 pm
- January 24th - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- January 25th - Zumba Gold, Stone Harbor Recreation, 11 am
- January 25th - Mahjong & Cards, Stone Harbor Recreation, 12:30 pm
- January 29th - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- January 31st - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- February 1st - Zumba Gold, Stone Harbor Recreation, 11 am
- February 1st - Mahjong & Cards, Stone Harbor Recreation, 12:30 pm
- February 3rd - Friend in Need Annual Super Bash, Princeton Bar, 4:30 pm
- February 5th - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- February 6th - Senior Fund Day! Bridge & Cards, American Legion Post #331, 1 pm
- February 8th - Zumba Gold, Stone Harbor Recreation, 11 am
- February 8th - Mahjong & Cards, Stone Harbor Recreation, 12:30 pm
- February 10th - Big Ban Dance, Star Band, Avalon Community Hall, 7 pm
- February 12th - Low Sit Cardio for Seniors, Stone Harbor Recreation, 11 am
- February 13th - Senior Fund Day! Bridge & Cards, American Legion Post #331, 1 pm
- February 15th - Zumba Gold, Stone Harbor Recreation, 11 am
- February 15th - Mahjong & Cards, Stone Harbor Recreation, 12:30 pm
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