GIVE ‘EM SOME SPACE!  While rare, seals are occasionally spotted on local beaches.  These signs have been posted at many beach entrances reminding everyone to keep a safe distance from the animals.  Seals are likely resting on the beach after a long journey, and should not be approached. If you believe a seal is sick or injured, report it to the Marine Mammal Stranding Center at 609-266-0538, so it can be evaluated by an expert.

FLOODING: WHAT’S MINOR, WHAT’S MAJOR?  Ever wondered what to expect when minor flooding is forecast?  Or what distinguishes “minor” from “moderate” or “major?”  Atlantic City Press Meteorologist Joe Martucci visited Avalon to explain the three different designations, after Avalon’s volunteer Floodplain Management Committee came up with the idea.  Joe’s video aired at Avalon’s December 15^th Borough Council meeting.  After discussing and presenting the video, Joe was given a certificate of recognition for his project.  Watch as Joe visits various areas of town in the video (3 minute watch):  https://www.youtube.com/watch?v=HdWUqABxx7U

AFTER THREE STRAIGHT WEEKS of increases, interest rates are up about a quarter point from where they were last month, and up more than a half point from a year ago, to an average of 3.45%.  According to a January 13th Wall Street Journal article, “expectations that the Federal Reserve will raise interest rates multiple times this year are driving up mortgage rates.”  Still, despite the recent increases, rates are still near historic lows, and well below the 4.75% level where they were in late 2018.

View The Latest Long & Foster Market Minute Report  |  Download/Print PDF

MARKET STATS:  13 new listings hit the market in December while 18 properties went under contract, continuing to limite the number of available listings.  The median sale price in December was $2,410,000, up slightly from November, and down slightly from December 2020.  For a more detailed look at the market see the latest Long & Foster Market Minute above.

PLACES TO LOVE: THE JERSEY SHORE!  Samantha Brown’s Places to Love: The Jersey Shore aired this past weekend, highlighting the Wetland’s Institute and their efforts to research and protect our ecosystem while educating the public about it.  Also featured in the episode were Cape May’s Emlen Physick Estate and Harriet Tubman Museum, as well as Beach Plum Farm.  If you missed it, you can catch the episode here:  https://www.pbs.org/video/the-jersey-shore-and-more-H0g3hd/

 

New Listings:

Lot 52 112th Street, Stone Harbor, $3,695,000, ACTIVE MLS#: 220044

19 Flamingo Drive, Avalon, $6,095,000, ACTIVE MLS#: 220053

Properties Under Contract:

2019 Dune Drive, Avalon, $1,450,000, UNDER CONTRACT MLS#: 220011

242 36th Street, Avalon, $2,500,000, UNDER CONTRACT MLS#: 213881

128 21st Street, Avalon, $2,799,000, UNDER CONTRACT MLS#: 220015

Lot 58 112th Street, Second Avenue, Stone Harbor, $3,595,000, UNDER CONTRACT MLS#: 220045

4607 5th Avenue, Avalon, $4,250,000, UNDER CONTRACT MLS#: 210225

526 7th Street, Avalon, $5,349,000, UNDER CONTRACT MLS#: 220089

Properties Sold:

171 24th Street, Avalon, $1,800,000, SOLD MLS#: 220078

277 26th Street, East, Avalon, $2,550,000, SOLD MLS#: 214154

187 104th Street, Stone Harbor, $4,300,000, SOLD MLS#: 214005

63 W. 35th Street, Avalon, $4,995,000, SOLD MLS#: 214008

2022 beach tag designs have been revealed!  

SECOND HOME INTEREST RATES TO RISE:  In a recent statement the Federal Housing Finance Agency announced increased costs for high balance loans and second homes financed through Fannie Mae and Freddie Mac.  The FHFA went on to emphasize its mission of “facilitating equitable and sustainable access to homeownership…and to ensure access to credit for first-time home buyers and low- and moderate-income borrowers.”

Mike Mento of Prosperity Mortgage offered an example of how the future cost increase could affect a hypothetical $560,000 second home loan with a rate of 3.375%.  Today that loan would have a monthly principal and interest payment of $2,476.  In the future, in order to keep the same monthly payment, borrowers would pay an additional 3.375% in upfront discount points (each point is 1% of the loan amount), or without paying discount points, the rate would increase to 4.375%, pushing the payment up by $320 per month to $2,796.  Mento said the Fannie Mae and Freddie Mac increases will take effect on April 1st, but also said it takes lenders roughly 30 days after settlement to facilitate loan sales to Fannie or Freddie, therefore, loans through Prosperity must settle by February 28^th to avoid the rate increase.  Prosperity is actively looking at alternatives for second home loans, and we’ll have a further update shortly.  Meanwhile:

FOR BUYERS: If you’re in the process or purchasing now (or negotiating a purchase), it may make sense to plan to close by February 28th.

FOR SELLERS: Although it may not directly affect sellers, be aware of the increased costs to buyers, and how it may influence them.  Again, for negotiations in progress, offering to close before February 28^th may be beneficial.

We’ll provide more information–and alternatives–moving forward.

MARKET STATS:  The tight inventory situation has continued, limiting sales even though purchase demand has remained strong.  The November 2021 median sale price was $2,300,000, up from November 2020.  For a detailed look at the market see the latest Long & Foster Market Minute report below.

View The Latest Long & Foster Market Minute Report  |  Download/Print PDF

THE WETLANDS INSTITUTE will be featured on TV as part of a “Samantha Brown’s Places to Love” episode.  In addition to the Wetlands Institute, the show will include Beach Plum Farm and Cape May’s Harriet Tubman Museum.   Season 5, Episode #502 will air this week on PBS. If watching from Avalon or Stone Harbor, catch it Saturday morning, January 15th, at 10:30am on WHYY, channel 12.  If watching in another area, find the air date, time, and channel here:   https://samantha-brown.com/how-to-watch/
TIME TO RENEW YOUR RENTAL LICENSE: It’s time for the annual renewal of your property’s rental license, and of course the annual inspection.  Avalon and Stone Harbor property owners will receive advanced notice of their inspection date, and fire inspectors will pick up keys from our offices, then inspect the property including your smoke detectors, CO detectors, and fire extinguisher.  Avalon property owners should note that the borough is no longer allowing fire extinguishers to be mounted inside a closet or cabinet, even if the door is labelled with a “fire extinguisher” sticker.  Instead, extinguishers must be unobstructed from view (such as on a wall or countertop), and mounted using the supplied hardware or bracket.  Questions about your Avalon rental inspection?  Contact the Avalon Fire Inspection office at (609) 967-5918.  For questions about Stone Harbor rental inspections, contact the Stone Harbor Fire Prevention Bureau at (609) 368-5102.

IT WON’T BE LONG!  Dreaming of sunny days, laying on the beach, as a gentle seabreeze blows? It won’t be long before the snow, ice, and cold temperatures we’re talking about will be behind us!  Make your 2022 plans now!  Plan a week at the beach–or plan to make it permanent!  Either way, call or email me today!
New Listings:

216 90th, Stone Harbor, $725,000, ACTIVE MLS#: 220039

128 21st Street, Avalon, $2,799,000, ACTIVE MLS#: 220015
Properties Under Contract:

684 Sunrise Drive, Avalon, $1,569,000, UNDER CONTRACT MLS#: 214199

8823 2nd Avenue, Stone Harbor, $2,495,000, UNDER CONTRACT MLS#: 213273
Properties Sold:

2688 Dune Drive, Avalon, $3,100,000, SOLD MLS#: 200824

335 6th Street, Avalon, $4,000,000, SOLD MLS#: 212947

109 115th Street, Stone Harbor, $5,400,000, SOLD MLS#: 214289

11 Heron Drive, Avalon, $6,300,000, SOLD MLS#: 213470

Happy New Year from the beach!

HAPPY NEW YEAR FROM THE BEACH!  On New Year’s Eve Avalon had a great fireworks display on the beach, with the ocean and the Avalon Fishing Pier as a backdrop.  Over the holiday weekend island visitors enjoyed shopping New Year sales in many local stores, along with dining in local restaurants.

BALMY SUNDAY, FROZEN MONDAY!  Sunday, January 2nd was unusually warm for this time of year, with daytime temperatures in the 60s.  But meteorological forces aligned to bring a blast of frigid air to the region, along with significant snow, wind, and minor coastal flooding on Monday, January 3rd.  Cape May County was just about in the storm’s cross hairs and Avalon and Stone Harbor had about 12 inches of snow fall by 6pm.  Monday evening’s temperatures dropped into the teens; winds continued to blow snow around, and despite excellent and continuous plowing efforts by road crews on Seven Mile Island, many highways and local roads still had snow on them early Tuesday morning, before crews could finally catch up.

TAKE A TOUR OF THE ISLAND covered in snow!  See below for a series of photos in various locations around the island!

Avalon’s Surfside Park under a blanket of snow.

30th Street in Avalon had been plowed many times but still had significant snow remaining Tuesday morning.

Snow covered dunes and a wind-whipped ocean. 

A single set of footprints lead through the snow on the beach toward the Avalon Fishing Pier.

Avalon…definitely “Cooler By A Mile!”

Stone Harbor’s welcome sign at 80th Street.

102nd Street was plowed right up to the beach entrance, where a single set of foot prints lead up the beach path.

Bayfront homes and docks in Stone Harbor.  Larger waterways are still too warm to freeze, but some shallow waterways in the marsh had ice forming along the banks.

IF WARMER WEATHER is your preference, there’s nothing like a mid-winter boat show to get you thinking about summer!  The Wildwood Fishing & Boating Expo takes place this weekend, Saturday & Sunday, January 8th & 9th, at the Wildwood Convention Center.  From boat dealers to charter captains to vendors, there will be plenty to take your mind off winter!  Plus, Captain Dave Marciano from the Wicked Tuna television series will be on hand both days, sharing his stories and fishing knowledge.  For hours, details and tickets, click here: https://www.fishingexpowildwood.com/

THE AVALON COMMUNITY CENTER will host Covid vaccination and booster clinic every Wednesday afternoon from 2pm to 5pm.  The Cape May County Department of Health will administer the Moderna and Johnson & Johnson vaccines, including booster doses.

SLOW DOWN FOR WHALES:  North Atlantic right whales are routinely found in specific areas designated as Annual Seasonal Management areas.  In those zones vessels over 65 feet are required to slow to 10 knots or less to reduce the chances of injuring a right whale in a collision; vessels under 65 feet are asked to voluntarily comply as well.  The mouth of Delaware Bay is such an area.  Additional Dynamic Management Areas are added when right whales are spotted.  Such an area has been mapped just southeast of Atlantic City, with recommended vessel speed restrictions in place through January 13th.

GARDEN STATE PARKWAY and Atlantic City Expressway tolls have increased 3% effective January 1st.  The Parkway toll booths will now cost $1.96 (rounded up to $2 for drivers paying cash.)    EZPass drivers will still receive a 25% discount when travelling on off-peak hours.

CIRCLE PIZZA is undergoing interior renovations.  Stop in and see the new look when they reopen on January 17th!

BEST WISHES for a happy and healthy New Year!

IS 2022 YOUR YEAR?  Whether you need a vacation in Avalon or Stone Harbor, or a place to call your very own, let’s make it happen!  Call or email me today!
New Listings:

262 110th Street, Stone Harbor, $2,395,000, ACTIVE MLS#: 214442

Properties Under Contract:

9701 2nd Avenue, Stone Harbor, $1,795,000, UNDER CONTRACT MLS#: 213673

9629 Second Avenue, Stone Harbor, $1,800,000, UNDER CONTRACT MLS#: 211753

6934 Ocean Drive, Avalon, $2,895,000, UNDER CONTRACT MLS#: 213938

144 105th Street, Stone Harbor, $3,495,000, UNDER CONTRACT MLS#: 214450

Properties Sold:

7888 Dune Drive, 311, Avalon, $345,000, SOLD MLS#: 214071

10829 3rd Avenue, Stone Harbor, $2,850,000, SOLD MLS#: 213781

5441 Ocean Drive, Avalon, $3,495,000, SOLD MLS#: 211712

65 S. Pelican Drive, Avalon, $8,035,000, SOLD MLS#: 204347

7668 Sunset Drive, Avalon, $8,250,000, SOLD MLS#: 213847

PEACE & JOY to you & yours this season!

THANK YOU for your business, referrals, and friendship this year.  I sincerely appreciate it!

IF YOU’RE HERE NEW YEAR’S EVE be sure to catch fireworks on the beach in Avalon!

THE AVALON/STONE HARBOR UPDATE will return the week of January 3, 2022.

FROM MY FAMILY TO YOURS, Merry Christmas and Happy New Year!  Best wishes for health and happiness in the upcoming year!

 

New Listings:

262 110th Street, Stone Harbor, $2,395,000, ACTIVE MLS#: 214442

Properties Under Contract:

571 Avalon Boulevard, Avalon Manor, $399,000, UNDER CONTRACT MLS#: 214357

446 21st Street, 2nd Floor, Avalon, $695,000, UNDER CONTRACT MLS#: 214433

2778 Dune Drive, D, Avalon, $999,000, UNDER CONTRACT MLS#: 214257

19 Seabreeze Lane, Avalon Manor, $1,149,000, UNDER CONTRACT MLS#: 213771

388 39th Street, West, Avalon, $1,645,000, UNDER CONTRACT MLS#: 214304

2538 Dune Drive, Avalon, $3,395,000, UNDER CONTRACT MLS#: 200821

144 105th Street, Stone Harbor, $3,495,000, UNDER CONTRACT MLS#: 214450

4327 Fifth Avenue, Avalon, $4,595,000, UNDER CONTRACT MLS#: 212012

Properties Sold:

7888 Dune Drive, 113, Avalon, $299,000, SOLD MLS#: 212967

9511 Sunset Drive, Unit 205, Stone Harbor, $479,000, SOLD MLS#: 214127

8001 Second Avenue, 204, Stone Harbor, $730,000, SOLD MLS#: 213866

224 96th Street, Stone Harbor, $712,500, SOLD MLS#: 213343

8001 Second Avenue, 210, Stone Harbor, $840,000, SOLD MLS#: 213889

331 40th Street, Avalon, $1,300,000, SOLD MLS#: 212998

4109 4th Avenue, B, Avalon, $1,273,000, SOLD MLS#: 213085

192 83rd Street, #4/2nd Fl., Stone Harbor, $1,275,000, SOLD MLS#: 213816

325 7th Street, Avalon, $1,600,000, SOLD MLS#: 212581

2066 Sixth Avenue, Avalon, $1,795,000, SOLD MLS#: 210322

2086 Sixth Avenue, Avalon, $1,795,000, SOLD MLS#: 210323

244 23rd Street, Avalon, $2,410,000, SOLD MLS#: 213934

6158 Ocean Drive, Avalon, $3,100,000, SOLD MLS#: 213858

573 21st Street, Avalon, $3,216,000, SOLD MLS#: 212532

3449 First Avenue, Avalon, $3,250,000, SOLD MLS#: 213487

498 7th Street, Avalon, $5,995,000, SOLD MLS#: 212145

Avalon’s beach tree is being decorated by visitors!  Stop by the 30th Street beach and hang an ornament or place a seashell at the base of the tree!

OCEAN DRIVE BRIDGE TOLLS will increase by $1.50 under the Cape May County Bridge Commission’s plan.  The current $1.50 toll will rise by 50 cents in each of the next three years.  The county operates a series of bridges linking its barrier islands, and aside from the Ocean City-Longport Bridge, which was constructed in 2002, the rest are drawbridges built in the 1930s and 1940s.  Increased toll revenue would help pay for maintenance and repair projects until the drawbridges can be replaced in the future.  The last bridge toll increase took place in 2009.  SeaIsleNews.com ran an article on the toll increase–you can read it here: https://seaislenews.com/bridge-tolls-increase-1-50-three-year-plan/

WHILE THE TREE LIGHTS ARE ON take a ride along Dune Drive or stroll the 96th Street business district for a mesmerizing sight!  Both Avalon and Stone Harbor have extensive holiday decorations in place, and the streets are lined with lights.  Christmas trees, wreaths, red bows, and thousands of twinkling lights await you!

NOTHING BEATS SANTA ON A TRAIN!  Whether you’re a kid, or just young-at-heart, a visit from Santa aboard a vintage train is a magical experience.  You can still get tickets for The Santa Express aboard the Cape May Seashore Lines, running now through December 22nd, departing from nearby Tuckahoe.  Visit https://the-santa-express.com/ for schedules and tickets.

CATCH FIREWORKS ON THE BEACH on New Year’s Eve in Avalon!  Beginning at 5pm on New Year’s Eve, Avalon will put on spectacular fireworks show!  Families are encouraged to access the beach at 30th Street and 32nd Street for viewing the show.  Prior to the fireworks show enjoy family activities including music and hot chocolate, beginning at 3:30pm at Surfside Park.  The rain date for the event is Saturday, January 1st at 5pm.

NEW YEAR’S EVE IN THE AREA:  After you enjoy fireworks on the beach in Avalon, you may want to enjoy dinner or celebrate while ringing in the New Year.  Reservations are suggested!  Here are just a few local places to consider:  The Princeton; Spiaghetta; Avalon Brew Pub; The Reeds at Shelter Haven.  Check out others around the island, or consider more options from Cape May Court House to Cape May!

New Listings:

7888 Dune Drive, 107, Avalon, $299,000, ACTIVE MLS#: 214416

7888 Dune Drive, 106, Avalon, $299,000, ACTIVE MLS#: 214417

7900 Dune Drive, 305, Avalon, $338,000, ACTIVE MLS#: 214391

274 21st Street, Avalon, $1,250,000, ACTIVE MLS#: 214401

366 99th Street, Stone Harbor, $3,495,000, ACTIVE MLS#: 214388

Properties Under Contract:

7888 Dune Drive, 108, Avalon, $299,000, UNDER CONTRACT MLS#: 212720

76 W. 28th Street, 202, Avalon, $1,075,000, UNDER CONTRACT MLS#: 214192

1269 First Avenue, Avalon, $3,795,000, UNDER CONTRACT MLS#: 214349

10802 First Avenue, Stone Harbor, $4,695,000, UNDER CONTRACT MLS#: 214400

Properties Sold:

7708 Sunset Drive, Avalon, $6,295,000, SOLD MLS#: 213263

Catching a wave…in December?  Yes, dedicated surfers can be seen riding waves even on cold, gray days during the winter months!  Wetsuits and gloves help block the cold, but it still looks chilly!

CHRISTMAS TREES ON THE BEACH are taking root!  Avalon’s beach tree is back again this year on the 30th Street beach–and even made TV new in Philadelphia!  NBC10 ran a story on beach trees in Sea Isle, Ocean City, and Avalon.  Check it out here: https://www.nbcphiladelphia.com/entertainment/holidays/christmas-trees-on-the-beach-spread-holiday-joy/3065222/?fbclid=IwAR0f8r-AmY_p8mwMsbx42Ra2IF8wwZgKwy0vKayVGukx-BNSyENhPj2SgIo

Avalon’s beach Christmas tree was decorated by visitors throughout the month of December; stop by the 30th Street beach this month to add an ornament to this year’s beach tree!

CONFORMING LOAN LIMIT RAISED:  Rising real estate prices have led to an increase in the Fannie Mae conforming loan limit.  Mike Mento of Prosperity Mortgage stated “the new conventional loan limit of $647,200 is effective immediately.”  Loans over that amount are considered jumbo loans, and are often subject to different interest rates and requirements, while conforming loans written to Fannie Mae standards facilitate underwriting, and help ensure a vibrant mortgage market.

WHILE OTHERS ARE FOCUSED ON THE HOLIDAYS, now is a great time to get a head start on traditional “spring” projects for your rental property.  Place a quick call to a contractor, schedule a carpet cleaning or painter, or order that new piece of furniture now.  It’ll get you into the que earlier and help beat the spring rush!

ANOTHER WAY TO BEAT THE SPRING RUSH: Begin your search for the perfect shore home now!  Whether you need a week at the beach, or a permanent place to call your own, let’s talk!  Either way, the family memories are priceless!  Call or email me anytime!

FIREWORKS ON THE BEACH have always been fun–and this year, you can ring in the New Year with fireworks in Avalon on New Year’s Eve!  Details on the location & time will be announced shortly–stay tuned!

 

New Listings:

571 Avalon Boulevard, Avalon Manor, $399,000, ACTIVE MLS#: 214357

388 39th Street, West, Avalon, $1,645,000, ACTIVE MLS#: 214304

1269 First Avenue, Avalon, $3,795,000, ACTIVE MLS#: 214349

Properties Under Contract:

7888 Dune Drive, 105, Avalon, $299,000, UNDER CONTRACT MLS#: 214311

8001 Second Avenue, Stone Harbor, $489,000, UNDER CONTRACT MLS#: 213953

2089 4th Avenue, Avalon, $1,299,000, UNDER CONTRACT MLS#: 214231

284 83rd Street, #1, Stone Harbor, $2,195,000, UNDER CONTRACT MLS#: 214243

31 S. Inlet Drive, Avalon, $2,950,000, UNDER CONTRACT MLS#: 214207

5441 Ocean Drive, Avalon, $3,495,000, UNDER CONTRACT MLS#: 211712

249 88th Street, Stone Harbor, $3,495,000, UNDER CONTRACT MLS#: 214253

109 115th Street, Stone Harbor, $5,400,000, UNDER CONTRACT MLS#: 214289

7 Flamingo Drive, Avalon, $7,950,000, UNDER CONTRACT MLS#: 211469

Properties Sold:

1688 Ocean Drive, A2, Avalon, $1,300,000, SOLD MLS#: 213625

3546 Ocean Drive, Avalon, $2,325,000, SOLD MLS#: 213001

304 75th Street, Avalon, $2,900,000, SOLD MLS#: 213412

266 90th Street, Stone Harbor, $2,850,000, SOLD MLS#: 213669

193 18th Street, Avalon, $3,495,000, SOLD MLS#: 211192

26 E. 25th Street, Avalon, $4,405,000, SOLD MLS#: 213501

214 62nd Street, Avalon, $4,650,000, SOLD MLS#: 213704

24 E. 19th Street, Avalon, $4,795,000, SOLD MLS#: 204588

111 100th Street, Stone Harbor, $7,800,000, SOLD MLS#: 212690