Ryan Vince's Avalon NJ Real Estate Blog

SALES

May sale numbers show 24 properties under contract (15 in Avalon and 9 in Stone Harbor).  Half of these sales were over $1,000,000, (7 in Avalon and 5 in Stone Harbor).  May’s sales number have dipped down from 33 overall sales in April, but this is not unusual for this time of year.  Last year’s under contracts went from 21 in April to 17 in May.  Overall, year to date the market is up over 40% with 138 sales pending since January 2012 compared to 98 for the same time period in 2011.  I expect activity to increase again as we move into the prime season with the bulk of vacationers here in July and August. With Interest Rates remaining at their lows, I see this as another driving force during our summer months.  Memorial Day weekend was strong with great weather and good reports from local businesses on the sheer volume of vacationers in town.  Our Team is geared up for a very good rental season which should translate into good sale numbers over the course of the summer as well.  There is a real consensus among all of our real estate professionals, that we have turned a corner and that our market is rebounding consistently with each month.  If you are considering Buying, it is a good idea to have a pre-qualification letter from a Lender to submit with offers.  The lending climate is improving, but Seller’s feel more confident negotiating a sale price with a Buyer who can show some standard of qualification.  Contact me to see properties in your price range or check out my website for a complete list of sale property.

Search Homes On The MLS Now

Total inventory on the island remained constant at 503.  We have now spent the last 3 months under 505 properties on the market.  Over the course of several months, our inventory has continued to go down due to solid sale activity and fewer properties being added to the market.   This is good sign for our market in that the sale numbers hold strong with less competition in each area and price range.  I will continue to monitor inventory levels.

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

Come check out some of our new listings for RENT.  We are seeing continued activity on the rental side.  With our peak weeks nearly all booked, we are now seeing much of the activity in last minute rentals.  Good sign, some of our owners are completely booked for the summer.  Don’t wait too long to secure your vacation rental, especially for multiple weeks and for weeks during prime season of July and beginning of August. Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

Other Quick Links

*OceanFront Sales-Avalon 

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon 

*BeachBlock Sales-Stone Harbor

*BayFront Sales-Avalon      

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales 

*StoneHarbor NJ Short Sales

*Market Statistics    

*Charities

*Contact Me

SALES 

April sale numbers show 33 properties under contract (18 in Avalon and 15 in Stone Harbor) up from 32 in March.  Great news!  We have seen an uptick in sales with each month this year. The biggest change is that almost half of these sales (14) have been over $1,000,000.  We are experiencing long term investors coming back to the market, in that many of our Buyers are purchasing property, using for a few weeks and renting for part of the summer and many are trading up within the current market.  Check out this Article from the Philadelphia Inquirer dated April 17, 21012.  There is a real consensus among all of our real estate professionals, that we have turned a corner and that our market is rebounding consistently with each month.  If you are considering Buying, it is a good idea to have a pre-qualification letter from a Lender to submit with offers.  The lending climate is improving, but Seller’s feel more confident negotiating a sale price with a Buyer who can show some standard of qualification.  Contact me to see properties in your price range or check out my website for a complete list of sale property.

Search Homes On The MLS Now

Total inventory dipped slightly from last month down from 504 to 502.  Over the course of several months, our inventory has continued to go down due to solid sale activity and fewer properties being added to the market.   This is good sign for our market in that the sale numbers hold strong with less competition in each area and price range.  I will continue to monitor inventory levels.

Updated Market Statistics for Avalon NJ, Stone Harbor NJ and Sea Isle City NJ

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

We expect a strong rental season right on par with last year and have been receiving reservation requests on a daily basis.

Some of our owners are completely booked for the summer.  Don’t wait too long to secure your vacation rental, especially for multiple weeks and for weeks during prime season of July and beginning of August. Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

Other Quick Links

*OceanFront Sales-Avalon

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon

*BeachBlock Sales-Stone Harbor 

*BayFront Sales-Avalon

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales  *StoneHarbor NJ Short Sales

*Market Statistics     *Charities

*Contact Me

March Madness

SALES

March sale numbers show 32 properties under contract (17 in Avalon and 15 in Stone Harbor) up from 30 in February (21 in Avalon and 9 in Stone Harbor).  Great news!  This shows a continuous trend toward increased activity and overall confidence in our market.  The other element of this trend is that we are starting to see an increase in property values in certain areas of the market. We have had transactions indicating higher sale numbers of $75,000 – $200,000 for a comparable property just a few months ago. For example, land values in the 100 block, north end of Avalon have shown a clear sign of moving from the $650,000 range to $750,000 – $800,000 and in the West block in the same area is supporting an increase in land values from the $800,000 range to $1,000,000. Stone Harbor posted some particularly strong numbers at 15 with 7 listed under $1,000,000 and 8 listed from $1,000,000 up to $3,200,000.  If you are considering Buying, it is a good idea to have pre-qualification letter from a Lender to submit with offers.  The lending climate is improving, but Seller’s feel more confident negotiating a sale price with a Buyer who can show some standard of qualification. Look for more properties to come on to the sale market in the months leading up to June. Contact me to see properties in your price range or check out my website for a complete list of sale property.

Search Homes On The MLS Now 

Total inventory dipped slightly from last month down from 513 to 504.  This not only reflects an overall depletion of sale property in the lower end (under $1 million), but now we are seeing continued depletion up to $1.8M. This again is a great sign for our market. I will continue to monitor inventory levels.

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

We expect a strong rental season right on par with last year and have been receiving reservation requests on a daily basis.  Some of our owners are completely booked for the summer.  Don’t wait too long to secure your vacation rental, especially for multiple weeks and for weeks during prime season of July and beginning of August.

Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

Other Quick Links

*OceanFront Sales-Avalon

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon

*BeachBlock Sales-Stone Harbor

*BayFront Sales-Avalon

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales

*StoneHarbor NJ Short Sales

*Market Statistics *Charities

*Contact Me

SALES 

February saw a major boost in “Under Contracts”.  Contracts were up to 30 transactions (21 in Avalon and 9 in Stone Harbor) for the month of February.  This kind of activity is unusual for this time of year.  Blame it on the great weather we are enjoying, or that there is just more confidence in the market, it doesn’t matter.  The fact is buyers are down and making offers.  To put things in perspective, there were a total of 28 properties that went under contract for June AND July combined in 2011, more support that our market has turned the corner and we should see improvement throughout 2012.  It should also be noted that the 15 properties that went to settlement last month, 6 sold within 10% of asking and 5 sold within 5% of asking.  There is good reason to feel positive for both Buyers and Sellers.  Buyers can be confident that they are purchasing at the lowest numbers we’ve seen in almost a decade and that they are able to borrow money at the lowest rates in over 50 years.  Sellers should feel confident that buyers are out there, ready and able to purchase at fair market value.  For those of you considering a purchase now is the time.  Look for more properties to come on to the sale market in the months leading up to June. Contact me to see properties in your price range or check out my website for a complete list of sale property.

Search Homes On The MLS Now

Total inventory has remained constant since last month’s email. Inventory now sits at 507. This is down from 597 only five months ago.  This not only reflects an overall depletion of sale property in the lower end (under $1 million), but now we are seeing continued depletion up to $1.6M. This again is a great sign for our market. I will continue to monitor inventory levels.

 
Check out this article from the March issue of Philadelphia Magazine on New Construction at the Shore:

http://blogs.phillymag.com/the_philly_post/2012/03/05/real-estate-jersey-shore/ 

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

We expect a strong rental season right on par with last year and have been receiving reservation requests on a daily basis. We have been receiving reservation requests on a daily basis.  Some of our owners are completely booked for the summer.  Don’t wait too long to secure your vacation rental, especially for multiple weeks and for weeks during prime season of July and beginning of August.

Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

Other Quick Links

*OceanFront Sales-Avalon

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon

*BeachBlock Sales-Stone Harbor 
*BayFront Sales-Avalon

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales  *StoneHarbor NJ Short Sales

*Market Statistics     *Charities

*Contact Me

SALES

January sale numbers were up to 19 transactions (17 in Avalon and 2 in Stone Harbor) in 2012 as compared to 11 transactions (8 in Avalon and 3 in Stone Harbor) in 2011.  This kind of activity is unusual for this time of year and more in line with what we typically see in late spring, throughout the summer and into fall. These solid numbers support what we have been saying; that our market has turned the corner and we should see improvement throughout 2012.  There is good reason to feel positive for both Buyers and Sellers.  Buyers can be confident that they are purchasing at the lowest numbers we’ve seen in almost a decade and that they are able to borrow money at the lowest rates in over 50 years.  Sellers should feel confident that buyers are out there, ready and able to purchase at fair market value, with the values looking to improve.  Our low inventory levels favor Seller’s in that there are less properties competing for a buyer in any given category but especially in the under $1 million range which has been the trend for a while now.  Out of the 17 sales, 11 were under $1 million.  For those of you who have been watching the market closely and have made a purchase in the last year,   your timing appears to be right on.  For the rest of you considering a purchase now is the time.  Look for more properties to come on to the sale market.  Last week added 3 new homes priced aggressively in the north end of Avalon, close to the beach priced between $1,300,000 – $1,700,000.  All great choices for Buyer’s looking in that area and price range. Contact me for more details and check out my website for a complete list of sale property.

Search Homes On The MLS Now

Total inventory has remained constant since last months email. Inventory now sits at 520. This not only reflects an overall depletion of sale property in the lower end (under $1 million), but now we are seeing continued depletion up to $1.6M. This again is a great sign for our market. I will continue to monitor inventory levels.

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

We expect a strong rental season right on par with last year and have been receiving reservation requests on a daily basis.  Don’t wait too long to secure your vacation rental, especially for multiple weeks and for weeks during prime season of July and beginning of August.  Owners have submitted rates for the year and have in many cases done some upgrades to their properties in the hopes of securing re-peat tenants and providing a well-equipped and appointed vacation home.

Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

*OceanFront Sales-Avalon           *OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon         *BeachBlock Sales-Stone Harbor 
*BayFront Sales-Avalon        *BayFront Sales-Stone Harbor

*Avalon NJ Short Sales              *StoneHarbor NJ Short Sales

*Market Statistics              *Charities           *Contact Me

“Prices and sales of homes expected to rise in 2012″

January 1, 2012; Press of Atlantic City

Third quarter 2011 ended with numerous indicators showing prices stabilizing and sales picking up. The NAR (National Association of Realtors) are predicting prices will start rising early to mid-2012.

SALES

December sale numbers were up slightly to 12 transactions in 2011 as compared to 11 in 2010. Always a slow time of year with the holidays, but there were signs of people gearing up for the new year with inquiries about both sale and rental property during the week between Christmas and New Year’s. For those of you who have been watching the market closely for the last several years to determine when the bottom has hit and how to time your purchase before it starts to turn in the other direction, all indications say that we are there! During the last quarter of 2011 much of our inventory was depleted, especially in certain price ranges such as single family homes in the $1,000,000 range, and new construction
town-homes in the $750,000-950,000 range. This has put our Seller’s in a better position because they often have one of just a few sale properties for Buyer’s to choose from. The higher end of our market has remained strong price wise, with the average bay-front sale over $2,300,000 ($975,000 – $4,600,000) and the average ocean front sale over $5,000,000 ($2,775,000 – $12,500,000). Overall, we have felt our market in Avalon and Stone Harbor to have stabilized in the last 12 – 18 months with prices remaining the same. There are exceptions when a few sales go out lower than expected and a few go out higher than expected but overall steady and when a property is priced aggressively in comparison with its competition, it sells. The number of transactions has slowly but steadily
increased from the year before. These market statistics are creating optimism for the year upon us.

Search Homes On The MLS Now

Total inventory has dropped drastically for the third month in a row. Inventory now sits at 514. This not only reflects an overall depletion of sale property in the lower end (under $1 million), but now we are seeing continued depletion up to $1.6M. This again is a great sign for our market. I will continue to monitor inventory levels.

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ. The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family. We are still seeing lifetime low interest rates. Please visit my Website:  www.RyanVince.com

A Referral is the highest honor I can receive from a client! Thanks for your confidence in me and please continue to refer your friends, family, neighbors and co-workers.

RENTALS

We expect a strong rental season right on par with last year and have been receiving reservation requests on a daily basis. Don’t wait too long to secure your vacation rental, especially for multiple weeks and for weeks during prime season of July and beginning of August. Owners have submitted rates for the year and have in many cases done some upgrades to their properties in the hopes of securing re-peat tenants and providing a well-equipped and appointed vacation home. Start your searches now on www.RyanVince.com or call me direct at 609.602.0025. You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

Other Quick Links

*OceanFront Sales-Avalon

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon

*BeachBlock Sales-Stone Harbor 

*BayFront Sales-Avalon

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales  *StoneHarbor NJ Short Sales

*Market Statistics     *Charities

*Contact Me

November Provides Off-Season Bump

I hope everyone enjoyed a great Thanksgiving. The island is beautifully decorated and lit up for the Holidays.

SALES 

November showed some life as Avalon posted 12 properties under contract and Stone Harbor posted 5 properties under contract.  This is a good sign in a typically slow period.

Total inventory has dropped drastically for the second month in a row. Inventory now sits at 544. This not only reflects an overall depletion of sale property in the lower end (under $1 million), but now we are seeing that depletion up to $1.6M. A couple of months don’t make a trend, but this is a great sign for our market. I will continue to monitor inventory levels.

There are some great borrowing opportunities for buyers to take advantage of.

Conventional Loans: 30 year Fixed Loan under 4% and 5 year ARMS under 3%

Jumbo Loans ($417,000 and above): 30 year Fixed Loan under 5% and 5 year ARMS under 4%.

These rates combined with strong rental incomes are creating a positive environment for investment opportunities in all price ranges.  With the
latest positive economic news these rates may not hold at these low
levels.

Search Homes On The MLS Now

Recently, market analysts have predicted a slight decrease in overall sale number nationally for the year 2012.  They have predicted a recovering real estate market of appreciation in 2013.  The Avalon/Stone Harbor real
estate market statically is a year ahead of theses national trends.  This
supports our view of being at the bottom of our market and have been for the last 8 -12 months.

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are
still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral
is the highest honor I can receive from a client!  Thanks for your
confidence in me and please continue to refer your friends, family,
neighbors and co-workers.

RENTALS

The Fall rental season is upon us, if you are looking for a getaway at New Year’s please contact me.  We expect strong rental activity in 2012.
Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com
for a full list of possible rentals.

Owners:  It is also time to start thinking about winterizing your home.  If you intend on keeping your home open please keep your thermostat set above 55 degrees.  If you are in need of winterizing, please contact me and I will refer you to a plumber.

Other Quick Links

*OceanFront Sales-Avalon

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon

*BeachBlock Sales-Stone Harbor 

*BayFront Sales-Avalon

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales  *StoneHarbor NJ Short Sales

*Market Statistics     *Charities

*Contact Me

SALES

October sales show a slight slowdown which is not unusual for this time of year as we move into fall and get closer to the holiday season. Avalon had 8 properties go under contract in October and Stone Harbor had 5.  Most of these were properties that were priced well, received multiple showings over the course of the summer and in some cases received multiple offers.  There were 6 priced under $1 million and 7 priced between $1,000,000 – $1.8 million.  Our 3rd quarter stats indicate that compared to years 2009 and 2010, while we have seen a slight decrease in the number of overall sales, the average selling price has increased by about $120,000 for single family homes and by about $200,000 for condo/townhouses.  The townhouse market has gained ground, for 2011, each quarter has shown an increase in sale price over the previous quarter. The new units sell quicker and at an obviously higher price than the older units. Also, we’ve seen a dip in the days on market for sale property across the board.  This is due to the stabilization of the market and Seller’s understanding that their property must be priced aggressively to get showings and offers.    

3rd Quarter Highlights
(Year Over Year): 

Average Days On The Market:  Down

Average Sale Prices: Up

Island Inventory: Down

For a complete breakdown on 3rd Quarter Market stats Click Here

Total inventory has dropped to 572, which is in line with last month.  This
reflects an overall depletion of sale property in the lower end (under $1
million) which we have been following over the past 2 years.  This is not
a bad sign; usually we see an uptick in inventory levels after the Labor Day
Weekend.  I will continue to monitor inventory levels.

Properties on the market are ready to be shown, please call to set up an appointment to search and preview properties for sale in Avalon and Stone Harbor NJ.  The Seven Mile Island’s real estate market is a great place to invest in, all while creating lasting memories for your family.  We are
still seeing lifetime low interest rates.  Please visit my website:www.RyanVince.com

A Referral is the highest honor I can receive from a client!  Thanks for your confidence in me and please continue to refer your friends, family,
neighbors and co-workers.

RENTALS

The Fall rental season is upon us, if you are looking for a getaway at Thanksgiving or New Years please contact me.  Start your searches now on www.RyanVince.com or call me direct at 609.602.0025.  You can also email me at Ryan@RyanVince.com for a full list of possible rentals.

Owners:  Thank you for getting 2012 Rental Authorization
forms and rates back to us.  We are working on sending leases out to our
tenants who have have booked for next season, so look for those leases with initial deposits over the next few weeks.

Note:  It is also time to start thinking about winterizing
your home.  If you intend on keeping your home open please keep your
thermostat set above 55 degrees.  If you are in need of winterizing,
please contact me and I will refer you to a plumber.

Other Quick Links

*OceanFront Sales-Avalon

*OceanFront Sales-Stone Harbor

*BeachBlock Sales-Avalon

*BeachBlock Sales-Stone Harbor 

*BayFront Sales-Avalon

*BayFront Sales-Stone Harbor

*Avalon NJ Short Sales  *StoneHarbor NJ Short Sales

*Market Statistics     *Charities

*Contact Me