Sea Isle City, NJ Real Estate News

By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
New Home Sales ~ Summer Update Posted on June 27, 2012 by Ian Lazarus—No Comments ↓ The charts tell the story. We never know when a recovery is happening until you look in the rear view mirror. In my opinion we aren’t going to see high volume of sales for many years but price recovery is going to happen as supply and demand goes back to neutral. ~ IML   On June 25, 2012, in Economic Updates, by Lawrence Yun, Chief Economist In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses new home sales. New single-family home sales perked up in May, rising eight percent in a month, and are 20 percent higher now than a year ago. This data...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
      The Landis Co, RealtorsSea Isle City NJ Real Estate & Summer Rental HQ's   Sea Isle City 2012 Vacation Rental Search Basic Search Find a Weekly RentalWeek begining Any 1/7/2012 1/14/2012 1/21/2012 1/28/2012 2/4/2012 2/11/2012 2/18/2012 2/25/2012 3/3/2012 3/10/2012 3/17/2012 3/24/2012 3/31/2012 4/7/2012 4/14/2012 4/21/2012 4/28/2012 5/5/2012 5/12/2012 5/19/2012 5/26/2012 6/2/2012 6/9/2012 6/16/2012 6/23/2012 6/30/2012 7/7/2012 7/14/2012 7/21/2012 7/28/2012 8/4/2012 8/11/2012 8/18/2012 8/25/2012 9/1/2012 9/8/2012 9/15/2012 9/22/2012 9/29/2012 10/6/2012 10/13/2012 10/20/2012 10/27/2012 11/3/2012 11/10/2012 11/17/2012 11/24/2012 12/1/2012 12/8/2012 12/15/2012 12/22/2012 12/29/2012 1/5/2013Number of Weeks 1,2,3,4,5,6 Find a Long Term Rental Entire Season (5/26/2012 - 9/8/2012) 1st Hal...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
This was a post from Jim Sofroney Broker/ Owner of The Landis Co., Realtors in Sea Isle City, NJ.The Landis Co., Realtors is the #1 Sea Isle City Vacation rental source with its award winning website www.LandisCo.com . Interesting how this has been happening for some time and its going to get worse. Renting from private sources has its disadvantages as well as its advantages.       Attention Summer Renters!   Here is another really good reason why renters should use a Realtor or real estate company when renting a summer vacation home.   One of the property owners whose home we rent told us that a woman called them to get the check in information for their summer rental in Sea Isle City that they rented for $4,500. a month or so ago.  The property owner knew nothing of the rental.  It se...
Comments 4
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Sometimes are get a great deal on a short sale, if you have the time to wait. So its been two months since the New Jersey AG passed the short sale bill and on June 14, 2012 the banks are supposed to accept or deny any short sale proposal within 30 days. Most of us in the real estate business, well out least the ones who are doing this on a full-time basis believe this isnt going to help anything.  The banks in most cases are just going to deny with there rubber stamp most or all requests on the 30th day. Then they will work with the ones that seem to make sense and drop the others into the foreclosure pile.  It sounds good in the media that the banks are working with consumers but the truth is that half of them that are vacation homes or investments should be done and the rest of the ow...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
E-NEWSLETTER From the City of Sea Isle City   May 31, 2012   MAYOR’S MESSAGE:What an exciting spring it has been!  After enjoying Sea Isle City's 3rd Annual Community Day on May 19 and several other successful events this month, we also had a record-breaking Memorial Day Weekend here in Sea Isle City, which included beautiful weather, a very successful Tri-For-Our-Veterans Triathlon and a very well-attended Memorial Day Ceremony that brought over 400 spectators to Veterans Park.  I would like to congratulate Bridgette Summa and all of the volunteers who once again made the triathlon a reality - and for raising over $40,000 for the Injured Marines Semper Fi Fund and VFW Post 1963.  I am also very grateful to our many Memorial Day guests, who gave speeches, offered prayers and participate...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
 MAYOR'S MESSAGE: I would like to thank all of Sea Isle City’s property-owners and visitors, who have been very patient while road work has taken place throughout our town. Nobody likes to deal with street closures or detours; however, the infrastructure improvements that we are undergoing along Park Road, Central Avenue and Landis Avenue will surely benefit us all. I would especially like to thank the residents of the 100 block of 79th Street, who have been waiting for several years for repairs to take place along their deteriorated road, which required involvement from the County. Work on 79th Street is now underway, and we are grateful for everyone’s cooperation, patience and understanding. This weekend, parishioners from Saint Joseph Catholic Church will celebrate the completion of ...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
GOOD News in Sea Isle City, NJ As of today April 3, 2012 58 properties are under contract. The spring selling season is in here.     Address             Closing Date                      List Price 205 84th Street 3/1/2012 $450,000 221 79th St 3/30/2012 $519,900 214 77th Street 3/30/2012 $619,900 5525 KNEASS 3/30/2012 $699,900 3700 Boardwalk 3/30/2012 $395,000 7813 Roberts Ave, south 4/6/2012 $599,000 4204 Landis Avenue 4/7/2012 $449,000 137 55th St 4/9/2012 $725,000 114 65th St 4/10/2012 $639,000 4705 Central 4/11/2012 $619,000 4602 Central Ave First Flr 4/12/2012 $225,000 210 W 79th St. 4/13/2012 $595,000 115 46th St West Unit 4/13/2012 $719,000 5911 Pleasure Avenue, 1st Fl 4/13/2012 $575,000 117 73rd St. 4/20/2012 $539,000 9 44 Street #304 Oceanfront 4/21/2012 $409,000 3500 N Boardw...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
  Cape May County Sea Isle City, NJ   Population in July 2009: 2,914. Population change since 2000: +2.8%     Males: 1,391 (47.8%) Females: 1,523 (52.2%)   Median resident age: 51.3 years New Jersey median age: 36.7 years Zip codes: 08243. Estimated median household income in 2009: $49,648 (it was $45,708 in 2000) Sea Isle City: $49,648 New Jersey: $68,342 Estimated per capita income in 2009: $38,750 Sea Isle City city income, earnings, and wages data Estimated median house or condo value in 2009: $625,556 (it was $257,200 in 2000) Sea Isle City: $625,556 New Jersey: $348,300 Mean prices in 2009: All housing units: $689,584; Detached houses: $696,079; Townhouses or other attached units: $808,378; In 2-unit structures: $620,794; In 3-to-4-unit structures: $549,378; In 5-or-more-unit stru...
Comments 1
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
E-NEWSLETTER   Sea Isle City Real Estate www.SJbeachhomes.com February 9, 2012 MAYOR’S MESSAGE: It’s almost time for Sea Isle City’s largest winter event, the 18th Annual Polar Bear Plunge. I am excited to report that this year’s Plunge Weekend promises to be our biggest and most successful to date, thanks to an army of local volunteers who have done an outstanding job scheduling a variety of great activities. What a great festival it is going to be!Our 2012 plunge activities, which take place over President’s Day Weekend, will begin on Friday evening, February 17, with the Annual Polar Bear Prince, Princess, King and Queen Contests. This year, all four members of the 2012 Polar Bear Royal Family will each receive an iPad Notebook and other great gifts (courtesy of the Sea Isle City Cha...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
  Foreclosures locally and in New Jersey declined in 2011, which should be welcome news for a residential property market weakened by the availability of distressed homes.   But much if not most of the improvement came from court-required delays in the processing of foreclosures in reaction to instances of improper handling such as the robo-signing of reams of paperwork.   As those delays end, filings will increase in 2012 and more bank-owned houses will reach the market, resulting in a second peak in foreclosure activity, predicts RealtyTrac, a foreclosure information and analysis service in Irvine, Calif.   Filings were still declining for counties in the region in the most recent data, but mortgage delinquencies were increasing. LPS Applied Analytics ranked New Jersey among the natio...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Ten Things You Should Know Before Buying a Jersey Shore Bayfront Home Bayfront Docks, Bulkhead, Sea Isle City By: Ian Lazarus Pre-qualifying for a home, understanding navigable water use laws, conducting a professional home inspection, verifying property lines and purchasing insurance; buying a home can be a complicated process. But add “waterfront” into the equation and things get a little more complex. The good news is, real estate agents who regularly deal with waterfront properties know the ins and outs of this process. The following tips will give you a heads-up on what to expect when purchasing a home by the water. Find a real estate agent that specializes in waterfront properties. Since there are fewer waterfront properties for sale, most agents won’t have the specialized knowled...
Comments 1
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Thanks for checking out our sellers report from http://www.FindaShoreHome.tv . Each month we have market data as well as other real estate professionals to update us on market turns and advice. Subcribe to the BeachVu Channel go watch the latest market reports and Jersey Shore videos. For more information about Jersey Shore properties and real estate check out out two main websites at http://www.SJBeachHomes.com and http://www.FindaShoreHome.com . Thanks, Ian Ian Lazarus The Lazarus Team The Landis Co., Realtors 609-457-0258 cell ian.lazarus@mygo2realtor.com
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Thanks for checking out our Sea Isle City, NJ buyers report from http://www.FindaShoreHome.tv . Each month we have market data as well as other real estate professionals to update us on market turns and advice. Subcribe to the BeachVu Channel go watch the latest market reports and Jersey Shore videos. For more information visit us at our main real estate websites http://www.FindaShoreHome.com or http://www.SJBeachHomes.com . Search Jersey Shore properties. read our blog posts and other related articles about real estate. Thanks, Ian Ian Lazarus The Lazarus Team The Landis Co., Realtors ian.lazarus@mygo2realtor.com 609-457-0258 cell direct
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Thanks for checking out my Jersey Shore marketing report from http://www.FindaShoreHome.tv . Each month we have market data as well as other real estate professionals to update us on market turns and advice. Subcribe to the BeachVu Channel go watch the latest market reports and Jersey Shore videos. I have been observing the real estate market for the last few years and have been dead in with my observations. The problem is I didn't tell anyone! So from now on I will write down my thoughts and once a week I will rant until the cow comes home. If you have some topics that you would like discussed then email me and if you are close enough you can come on the TV show and we can rant in stereo. For more information about Jersey Shore real estate and property check out our main websites http...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
2 Bedrooms 0 3 Bedrooms 3 4 Bedrooms 54 5 Bedrooms 26 6+ Bedrooms 8     Average Days on Market 228 Lowest Days on Market 47 Highest Days on Market 781     New Construction 26 Bank Owned 0     Blocks 0-10 10 Blocks 11-20 0 Blocks 21-30 3 Blocks 31-40 13 Block 41-50 12 Blocks 51-60 15 Blocks 61-70 10 Blocks 71-80 20 B1ocks 81-90 6 Blocks 91-94 2     $400,000-500,000 8 $500,000-$600,000 26 $600,000-$700,000 21 $700,000-$800,000 17 $800,000-$900,000 6 $900,000-$1,000,000 8 Greater than $1,000,000 5 First of all I would like to thank Dan O'Brien from Red Sky Realty Group, for compiling this data and building the chart. The interesting thing that I noticed is that the $500K to $600K range is now the where Sea Isle City real estate purchasers are putting their money. Almost 50% of the townhou...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Reuters is out with a new report on the state of real estate in Dubai.  According to the report, prices in Dubai are expected to continue to decline.  Here on the Jersey Shore in Cape May County, we are expecting prices to steady.  Unlike many international markets we continue to have an influx of yearly vacationers to Sea Isle City and the Jersey Shore.  Buyers have been enjoying the benefits of the lower than normal interest rates are quietly buying up most of the low hanging real estate before next spring when the sellers seem to have some footing on the prices and have the benefit of the summer rental incom wind at their backs. My peers and I used to joke about having clients cruise down during snow storms with borrowed SUV's to get a brand new property listing under contract before...
Comments 2
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Category: In the News, Investing, Jersey Shore, Market Conditions, Real Estate,Summer Rentals, Tags: home buyers, Real Estate U.S. house prices have plunged by nearly a third since 2006, and homeownership rates are falling at the fastest pace since the Great Depression. The good news? Two key measures now suggest it’s an excellent time to buy a house, either to live in for the long term or for investment income (but not for a quick flip). First, the nation’s ratio of house prices to yearly rents is nearly restored to its prebubble average. Second, when mortgage rates are taken into consideration, houses are the most affordable they have been in decades. Two of the silliest mantras during the real-estate bubble were that a house is the best investment you will ever make and that a renter...
Comments 0
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
Sea Isle City, NJ had a soft third quarter. Only 15 sold transactions. This is normally the slowest period of the year but it was quiet. Prices seem to have reduced slightly as some of these properties closed with more than 200 days on the market. Next quarter you will see many more property transfers.     Type Address City Sold Price Closing Date           Townhouse 85 85th St Sea Isle City $785,000 7/1/2011 Condo 6201 N Central Sea Isle City $455,000 7/24/2011 Townhouse 244  W 38th Street Sea Isle City $571,000 7/29/2011 Townhouse 244  E 38th Street Sea Isle City $589,000 7/29/2011 Townhouse 5412 Central Ave.West Sea Isle City $600,000 8/1/2011 Condo 309 56th St., Unit A5 Sea Isle City $360,000 8/19/2011 Condo 9 44th Street Sea Isle City $427,500 8/19/2011 Townhouse 228 43rd street No...
Comments 1
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
 Let’s start out with some background by saying I worked with my first real estate company in Atlantic City in the spring of 1985. During that time the market at The Jersey Shore was showing signs of topping out and starting to rollover. The Atlantic City real estate market was being fueled by the massive speculation of gambling and was still on a tear because casinos and investors were still buying the dream. Also in this time period new high rise condos were being brought to market by some out of the area real estate developers that were probably late to the party but were in no position to back out at that point. With major marketing dollars and plenty of effort four residential high rise developments with approximately 1400 condominium apartments were sold and closed from January 1...
Comments 2
By Ian Lazarus,CRB CRS, Jersey Shore 2nd Home & Financial Specialist
(Shore Points Realty)
By Ian Lazarus on September 20th, 2011 Sea Isle City Sold Condo/ Townhouse Transactions 2nd Qtr 2011 Here are the sold Sea Isle City condos & townhouses for the 2nd Quarter of 2011, April 1, 2011 to June 30th, 2011.  Category: Market Conditions, Property Transfers, Real Estate, Sea Isle City, Tags: Market Report, realestate, Sold Transactions SeaIsleCity Address BR BA Lavs Sold Closing             5214 LANDIS AVE 2 1 1 $252,500 4/29/2011 121 39th Street2nd Fl 2 1 0 $265,000 4/6/2011 6318 Central Ave3-N 3 2 0 $355,000 5/20/2011 3700 S Boardwalk 2 2 0 $370,000 6/22/2011 6300 Landis Ave, Unit N 2 2 0 $410,000 6/10/2011 3700Boardwalk #807 2 2 0 $415,000 5/25/2011 3700Boarwalk #806 2 2 0 $426,850 4/15/2011 3814 Landis AveUnit 1 4 3 0 $445,000 6/29/2011 3315 NCentral Ave. 4 2 0 $450,000 4/21/...
Comments 0