A blue heron finds a small crab for breakfast while walking through the marsh grass early in the summer.
INTEREST RATES have inched up over the past month, and while they’re still low, it’s caused buyers to take notice. Here’s why it matters for buyers: at the current rate of 3%, borrowing $100,000 for thirty years costs $422 per month. If the interest rate is increased to 4%, the cost rises to $477 per month, while a 5% rate pushes it to $537 per month. For each percentage point the interest rate is increased, the amount of mortgage a borrower will qualify for is reduced by about 13%, affecting the affordability of properties. Buyers, take advantage of today’s great rates and make your purchase now. For sellers, consider selling now to capitalize on strong demand and affordable interest rates.
SEVEN MILE ISLAND was once served by two major railroads. If you missed the talk that Jim Talone of the Stone Harbor Museum and Bill Mengle of the Avalon History Center gave a couple of weeks ago, it’s well worth watching. Talone and Mengle discuss how the two railroads first connected to the island, the train stations, and the challenges faced by the railroads during their tenure here. If you don’t know already, you’ll learn why the landscaped islands in the middle of Dune Drive and Second Avenue exist! Watch the talk on Facebook at https://fb.watch/3_eYUghLVd/
SHOP-A-HOLICS WEEKEND GOES ISLAND WIDE beginning Thursday, March 11th and running through Sunday, March 14th. Nearly three dozen stores are participating and offering a variety of discounts and promotions. For a list of participants click here: https://www.visitavalonnj.com/node/2981
SUNDAYS AT SURFSIDE begins June 27th! From “Jimmy and the Parrots” to “Beatlemania”, Sunday evening concerts return to Surfside Park in Avalon this summer, with nine different performances scheduled. All concerts begin at 7pm and are free, as is parking in the adjacent parking lot. Beach chairs or blankets are recommended, and all Covid protocols will be followed.
THINKING SPRING! After the cold winter weather, we’re all ready for a taste of spring. That means it’s time to get your shore property ready for the upcoming summer season. Hire the painter, schedule the landscaper, and have the carpets cleaned now! Beat the rush and have your projects completed now, when contractors aren’t quite so busy. If you offer your property for rent, it’s especially important that it be clean, fresh, and in good condition before your first tenants check in. Need contractor recommendations? Call or email me!
7800 Dune Drive, 308, Avalon, $305,000, ACTIVE MLS#: 210715
11001 Third Avenue, A, Stone Harbor, $779,000, ACTIVE MLS#: 210659
55 W. 32nd Street, 2A, Avalon, $925,000, ACTIVE MLS#: 210736
46 W. 18th Street, Avalon, $1,995,000, ACTIVE MLS#: 210728
Properties Under Contract:
8306 Third Avenue, 1, Stone Harbor, $983,000, UNDER CONTRACT MLS#: 210652
299 47th Street, Avalon, $1,800,000, UNDER CONTRACT MLS#: 210388
C-47 Weber Court, Stone Harbor, $718,000, SOLD MLS#: 204755
284 25th Street, Avalon, $2,250,000, SOLD MLS#: 202914
177 89th Street, Stone Harbor, $2,525,000, SOLD MLS#: 210251
2004 Ocean Drive, South, Avalon, $2,650,000, SOLD MLS#: 203544
227 120th Street, Stone Harbor, $2,700,000, SOLD MLS#: 210023