Avalon

AVALON AMONG TOP TEN VACATION MARKETS IN US

Joe Zahm — Thu, 19 Apr 2012 16:59:24 +0000

Avalon is among the top ten vacation home markets according to a recent Reuter’s article. Other top markets included Aspen, CO, and Hilton Head, SC.Avalon, New Jersey

Median list price: $1,350,000

A barrier island near the southern tip of New Jersey, this seashore community has long been one of America’s most expensive zip codes. Beachfront homes range in price from $4 million to $12 million, according to local broker Paul Leiser. “As of February, there’s been a stampede of buyers,” Leiser says. “From modest condominiums to beachfront, we’ve seen an incredible run.”

BEST FIRST QUARTER PURCHASE CONTRACT ACTIVITY SINCE 2005!

Joe Zahm — Thu, 05 Apr 2012 18:27:00 +0000

THE AVALON & STONE HARBOR real estate market has seen the strongest first quarter of contract activity since 2005. The first three months of the year saw 97 new purchase contracts written, up from 75 in 2011 and 55 in 2010. Buyers are coming back to the market! Sellers, take advantage of increased activity–call an Avalon Real Estate agent now to list your property!

BOOK SUMMER VACATION TODAY WITH YOUR CREDIT CARD!

Joe Zahm — Thu, 02 Feb 2012 13:36:00 +0000

Avalon Real Estate is pleased to be the first real estate company in the Avalon and Stone Harbor area to accept credit cards for vacation rentals. What used to take days to weeks now can take just minutes, meaning an easier, more enjoyable booking and payment process for both our rental guests and our owners. Our Accidental Damage Waiver Insurance eliminates the cumbersome process of providing security deposit checks on all non – group rentals, and optional Travel Insurance is also now available to protect your vacation investment (remember Hurricane Irene!). So grab your credit card, book now, and earn your rewards / mileage as a bonus!

Celebrating 50 years at Work at Play and in the Community… We are Avalon

2011 REAL ESTATE MARKET SHOWS STRONG IMPROVEMENT

Joe Zahm — Mon, 16 Jan 2012 14:29:36 +0000

MARKET UPDATE 2011:
Information obtained from the Cape May County MLS (Percentage change from 2010 shown in parentheses)

	Avalon Number of Sales: 188 (+16.7%) Total $ Volume: $226,680,041 (+20.1%) Average Sale Price: $1,205,744 (+2.9%) Number of Active Listings: 299 (-8.2%)	Stone Harbor Number of Sales: 80 (+35.5%) Total $ Volume: $112,302,750 (+37.2%) Average Sale Price: $1,403,784 (+1.2%) Number of Active Listings: 229 (+7.5%)

	Avalon Manor Number of Sales: 5 (0%) Total $ Volume: $1,449,000 (-53.3%) Average Sale Price: $289,800 (-53.3%) Number of Active Listings: 36 (+16.1%)	Stone Harbor Manor Number of Sales: 3 (0%) Total $ Volume: $1,244,900 (+5.5%) Average Sale Price: $414,966 (+5.5%) Number of Active Listings: 17 (-19.0%)

AREA SUPPORTS LOCAL FOOD BANK IN A BIG WAY!

Jim Lloyd — Mon, 21 Nov 2011 21:28:00 +0000

Avalon Real Estate Agency is pleased to announce a very successful food drive on behalf of the Holy Redeemer Food Bank. 23 turkeys and 15 bags (loaded to the brim!) of food items were delivered to the food bank for distribution to local families in need of our help. According to the food bank coordinator, “The need is greater than ever this year and Holy Redeemer offers sincere thanks to the generous Avalon Real Estate team!’ This successful effort marks just one way that Avalon Real Estate lives its motto, At Work, At Play and in the Community…WE ARE AVALON.

2012 marks the 50^th anniversary of Avalon Real Estate and we are pleased and proud to kick off our celebratory year in such a meaningful way!

MARKET KEEPS UP STRONG PACE

Joe Zahm — Thu, 06 Oct 2011 18:44:31 +0000

After three full quarters of activity, the revitalized Seven Mile Beach sale market continues to improve, with dollar sales volume up a whopping 40% over the same period last year ($270M vs. $192M) and unit sales up 22% (192 vs. 150). These gains have been across the board with strong activity from the lower sectors, to the highest sector, where we have seen 14 sales over $3M vs. only 4 over the same period last year. Average price increased from $1,263,245 to $1,353,331, or 7%.

This increased performance is attributable to increased demand based on increasing buyer confidence, attractive pricing and record low interest rates. Further, in the context of troublesome economic news, such significant improvement is further proof that the Avalon / Stone Harbor markets are special, and recover more quickly than most others. These numbers back up what so many of us already know: that this is truly a special place – to reside, vacation and invest in real estate!

So, if you, or someone you know, has been holding off on buying, now is a great time, with prices at or near bottom and interest rates at record lows. In fact, the conditions for ownership may never be better. Also, if you own, or know someone who owns, and has been sitting on sidelines waiting for the market to pick up, now may the right time to list.

For immediate assistance, contact us or your Avalon Real Estate Agent.

LUXURY MARKET CONTINUES MARKED IMPROVEMENT

Joe Zahm — Thu, 29 Sep 2011 13:01:53 +0000

IN THE LUXURY SECTOR, “the recession is a memory,” according to an Associated Press article that appeared earlier this week. In our real estate market, the 39% year-to-date increase in sales is certainly a positive sign supporting that statement. In fact, high end sales over $3 million have more than tripled from 4 last year, to 14 over the same period this year, showing further evidence of the revitalization of the Avalon / Stone Harbor market.

The increased demand for shore properties has been driven by increased confidence by luxury buyers, realistic prices and extremely low interest rates. This trend in luxury sales is consistent with improving international trends for luxury real estate sales, as well as other luxury items.

STONE HARBOR / AVALON MARKET STILL WAY UP

Joe Zahm — Fri, 23 Sep 2011 14:09:09 +0000

There have been 188 properties sold in the local market through September 15, up 39% over last year’s 135 sales during the same time frame. This year’s average sale price of $1,340,304 is up 9.0% over last year’s average price of $1,228,932, while this year’s median price of $897,500 is down 14.5% from last year’s median of $1,050,000. This increase in average price is due to the re-emergence of the high end market.

TEARDOWNS CONTINUE STRONG PACE

Joe Zahm — Fri, 23 Sep 2011 14:06:31 +0000

“TEARDOWNS” remain an important part of the market. In Avalon, 29 homes were demolished through August of this year, compared to 45 for all of last year. 38 construction permits were issued through August of this year, compared to 48 for all of last year. The fall months are popular for teardowns and construction “starts”, so this year’s final numbers could exceed last year’s.

IRENE CAUSES LITTLE DAMAGE

Joe Zahm — Wed, 31 Aug 2011 20:33:55 +0000

Hurricane Irene, an enormous storm whose eye passed just east of Avalon, Stone Harbor, and Sea Isle City, caused inconvenience but, thankfully, little damage. Mandatory evacuations began for the barrier islands on Thursday afternoon, followed by mandatory evacuations for all of Cape May County on Friday. An estimated 90% of those in the county left during the storm.

A few very important factors helped to minimize local damage: First, Irene weakened slightly as it approached Cape May County, becoming a Category 1 storm, instead of Category 2 or 3. Second, the storm surge began to build just as Saturday night’s high tide had passed. And finally, by the time of the next high tide on Sunday morning, the storm’s winds had shifted from northeasterly to northwesterly, pushing water offshore, and preventing any further storm surge from flooding the island.

Most damage was limited to missing shingles, toppled trees and branches, and other relatively minor things. The newly rebuilt beaches and dunes survived remarkably well, suffering only minor erosion. As one happy islander stated, “my boat is floating, my house is not, I’m happy.”

HURRICANE IRENE – A TIMELINE OF EVENTS

Jim Lloyd — Mon, 29 Aug 2011 17:41:49 +0000

- A state of emergency was declared in every state on the east coast of the US as Hurricane Irene moved northward from the Caribbean.
- On Wed., 8/24 Avalon Mayor Pagliughi advised all visitors and non-residents to voluntarily leave the island before an evacuation order was to be issued, in order to avoid an expected traffic jam on the highways leaving Cape May County, when an evacuation order would be given prior to the arrival of the storm late Sat., 8/27
- On Thurs., 8/25, the Cape May County Office of Emergency Management, along with the local Offices of Emergency Management, declared a state of emergency at 3:30 PM, due to the approaching Hurricane Irene, and issued a mandatory evacuation of all non-residents from the barrier islands by 6:00 PM Thurs., that very day. Island residents and business owners were then to follow a mandatory evacuation order and leave by 3:00 PM on Friday, 8/26. No businesses on the barrier islands were permitted to operate on Sat. & Sun., 8/27 & 8/28.
- On Friday, 8/26, New Jersey Gov. Chris Christy issued an ultimatum in a TV news conference, after having seen video clips of people still walking on New Jersey beaches, and said, “Get the hell off the beach! This is a life threatening storm and you must obey the evacuation orders that have been issued!”
- Traffic to the Jersey coast was prohibited by the closure of southbound and
Eastbound traffic on the Garden State Parkway, Atlantic City Expressway, Routes 47 & 347, etc
- We had been told that all first responders were going to be ordered off the island
by 3:00 PM on Sat., 8/27 and that there was a plan to cut all power to the island to prevent fires that the fire companies would not be able to get to, given the expected flooding.
- We at Avalon Real Estate Agency evacuated our building at 6:00 PM, Thurs., 8/25, after barricading our building and shutting off our building power. Our agents and staff then had to secure their own homes and property, and then pack up their families and evacuate their homes in Cape May County. We were told that we would be receiving Reverse 911 calls on our cell phones when the authorities gave the OK to return to the island.
- On Sunday afternoon, after getting informal word that you could once again get
back on the island, a number of our folks attempted to return and ran into numerous problems doing so, such as bridge and highway closures due to the high winds, flooding and tree-down detours, and even a large utility pole that came down and blocked Avalon Blvd. for several hours late on Sunday afternoon.
At about the same time, the power was out at the intersection of Stone Harbor Blvd. and the Garden State Parkway, so the NJ State Police blocked Stone Harbor Blvd. and would not allow access to the island via that roadway.
- A number of our staff did get back on the island late on Sun. afternoon or evening, but our building had not yet been un-barricaded, nor had our power to the building been restored. We did not know if we had sustained any damage to the building or our systems until we were finally able to get back in the building to check things out.

Over one million people were mandated to evacuate the Jersey Shore this past weekend for Hurricane Irene. They were stressed, inconvenienced and exhausted at the prospect of preparing their homes, businesses, boats, etc., and having to get out of Cape May County for the onslaught of this potentially dangerous and deadly storm. We are sorry for any inconvenience encountered by our tenants and property owners during these last few trying days, but we can all be thankful that we got through this in such good shape.

MARKET STATS – JULY 31, 2011

Joe Zahm — Wed, 03 Aug 2011 19:25:28 +0000

From January 1 through July 31 the local market saw 158 properties sell, up 52% over the same period last year. This year’s average sale price was $1,277,927, up 3.4% over last year, while the median price was $869,750, down 14%. The large drop in the median price resulted from an increased number of sales in the sub-$1 million category of the market: last year through July 31, 52 properties sold under $1,000,000; this year 93 were sold under $1,000,000.

WALL STREET JOURNAL – TIME TO BUY VACATION HOMES!

Joe Zahm — Wed, 03 Aug 2011 15:55:52 +0000

“If you have the money and plan on staying put for the long term, now may be a good time to buy,” according to a July 23rd Wall Street Journal Article. Reduced prices and years of pent up demand have lifted interest in vacation homes in markets across the country, including Aspen, CO, The Hamptons, NY, and Hilton Head, SC. In the local market, 139 properties sold in the first six months of the year, up 44% over the 96 sold in the first six months of 2010.

MARKET WAY UP FIRST HALF OF 2011

Joe Zahm — Wed, 03 Aug 2011 15:42:35 +0000

During the first half of 2011, 137 properties sold in the local market, a whopping 42% increase over the 96 properties sold during the first half of 2010. The average sale price was $1,354,019, up 10.6% over last year’s average price of $1,223,967.

OFF WITH A BANG!

Joe Zahm — Fri, 03 Jun 2011 17:48:25 +0000

By all accounts the Memorial Day Weekend was a success on the Island. It was warm, sunny, and dry which meant good crowds for the beaches, shops, and restaurants. Said one local merchant, “We’ll take it!”

AVALON REAL ESTATE HOLDS BRAND LAUNCH

Joe Zahm — Thu, 19 May 2011 18:25:38 +0000

Avalon Real Estate Agency, led by VP sales and Marketing Joe Zahm and Marketing Director Jim Lloyd, conducted its annual Marketing Workshop, and in – house launch, for the We Are Avalon brand initiative at the Golden Inn on May 18, 2011. The team reviewed its goals and objectives, and discussed the latest marketing trends, strategies and tactics. As always, these efforts are geared toward providing clients and customers with the very best resources and services possible.

At Work, at Play and in the Community… We Are Avalon

BEACH REPLENISHMENT COMPLETED IN AVALON

Joe Zahm — Thu, 05 May 2011 15:45:02 +0000

Beach Replenishment work in Avalon is complete and the beaches were in great shape for Memorial Day weekend. Work is progressing in Stone Harbor.

REAL ESTATE SALES ON THE UPTICK

Joe Zahm — Thu, 05 May 2011 15:41:19 +0000

The Market in Avalon and Stone Harbor continues to recover nicely. In 2010, 58 properties sold between January 1 and April 30 in Avalon and Stone Harbor, with an average price of $1,192,103 and a median price of $1,050,000. During the same period in 2011, 79 properties sold (+36%). The average price was $1,366,721 (+14.6%) and the median price was $889,862 (-15.2%). 40 additional properties are currently under contract, with settlement dates as far out as October, 2011.

These are obviously meaningful gains, as the market continues to show real signs of healthy growth.

OVER 160 NEW RENTAL LISTINGS

Joe Zahm — Tue, 19 Apr 2011 12:45:42 +0000

With over 160 new rental home listings, Avalon Real Estate has a better selection than ever of vacation properties from which to choose. Whether you desire a beachfront, beach block, or bay front home, town home or condo, Avalon Real Estate has something to suit your taste and budget.

AVALON REAL ESTATE LAUNCHES NEW WEB SITE

Joe Zahm — Wed, 06 Apr 2011 14:14:38 +0000

Avalon Real Estate Agency is pleased to launch its new web site as the center piece of its brand initiative, entitled We Are Avalon. Joe Zahm, VP of Sales and Marketing explains: “Avalon Real Estate has been an industry and community leader in Avalon, Stone Harbor and the Seven Mile Beach area for nearly 50 years. Our warm yet sophisticated web site design is user friendly, informative and communicates our brand personality: Welcoming, Intimate, Trusted and Immersed in the Community. In addition to searching for rental and sales properties with ease, web site visitors will be able to track industry, market and other local news in real time by simply clicking on any link in the Island Update section of the home page.

At Work, at Play and in the Community… We are Avalon

AVALON REAL ESTATE AGENCY MERGES WITH AMERICAN EAGLE REALTY INC.

admin — Tue, 11 Jan 2011 02:15:41 +0000

On November 22, Avalon Real Estate Agency merged American Eagle Realty Inc., into Avalon Real Estate Agency, which will continue to operate out of its offices at 30^th and Dune Dr. under the Avalon Real Estate Banner. The new, strengthened Avalon Real Estate Agency welcomes widely – respected Broker Bill Leahy, Sales Associates Kay Leahy, Sheila Erickson, Patrick McCusker and other members of the American Eagle team. States Avalon Real Estate Broker – of – Record Bill Soens: “We are thrilled to have Bill Leahy, and other members of the American Eagle Realty team, join Avalon Real Estate. We have been colleagues and friendly competitors with mutual respect for many years. We share goals and a vision as to how we would like to move our newly invigorated brand forward”. Adds Bill Leahy: “We are excited to get back to dedicating ourselves to our clients and having joined forces with our many friends and colleagues at Avalon Real Estate”.

The new, strengthened Avalon Real Estate Agency welcomes widely – respected Broker Bill Leahy and Top Producing Agents Kay Leahy, Sheila Erickson, Patrick McCusker and other members of the American Eagle team.

TO DO LIST

admin — Wed, 05 Jan 2011 16:32:29 +0000

Make your “to do” list now, and call contractors or vendors this month, while they are not terribly busy. Need some painting work done? Need your carpets cleaned? Ready for new furniture? Get things going now. Don’t wait ’til April or May when contractors and vendors are jammed up. As always, if you need a recommendation for a service provider, call or email me.

5 Great Reasons to Buy Now!

admin — Sun, 01 Aug 2010 16:20:49 +0000

Five Great
Reasons To
Buy Now!

Selection is good…
There is a wider selection of
available properties than
at any time in recent memory.

Reasonable Prices…
Get in now before the
next boom.

Low Interest Rates…
Fixed rate loans are at or near
record lows. Jumbo loans are
now under 6% and conforming
loan rates are under 5%.

Window of Opportunity…
Take advantage of the current
once in a lifetime opportunity
to purchase the place you
have always dreamed of
at the shore!