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.
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-Stone Harbor