2018:

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This Weeks News 8/23/2018

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MARKET STATS: 27 properties sold during July 2018, the same as the year before, while the number of active listings decreased slightly. July's median sold price was $1,165,000, up over last year. For a detailed look at market stats, View The Latest Long & Foster Market Minute.
 

Check the newest Market Minute report for the latest market stats.
 
BACKPACK DRIVE: Thanks to all who contributed school supplies for the Back to School Backpack Drive. Long & Foster staff gathered earlier this week to assemble and deliver donated school supplies. New backpacks--full of supplies--will be donated to students at the Glenwood Avenue School in Wildwood for the start of the school year. The Cape May County Association of Realtors sponsored the Drive; thanks to L&F Administrator Gina Reynolds for overseeing the efforts of our office!
 

Long & Foster staff gathered to assemble supplies for the Back to School Backpack Drive.
 
TOWNSEND'S INLET BRIDGE UPDATE: The Townsend's Inlet Bridge will close September 17th for replacement of seven spans on the Avalon side of the bridge. About 245 feet of the 1,373-foot long bridge will be replaced, according to a Cape May County Herald article. The $8.6 million project is related to damage discovered during an inspection last spring, when the bridge underwent emergency repairs in the few months prior to the 2018 summer season. After closing in September the bridge is not rescheduled to reopen until Memorial Day Weekend 2019--meaning those traveling from Avalon to Sea Isle City and vice versa will have to take "the long way around" via the Garden State Parkway for the next several months.
 
RISING RATES LEAD TO LESS BUYING POWER: Interest rates remain low by historical standards, but are widely expected to rise in the coming months. Higher financing costs can have a significant impact on buying power. Consider the example provided by Michael Mento of Prosperity Mortgage: at 4.5%, a monthly payment of $2,533.44 supports a mortgage of $500,000, but at 5.5% a $2,526.68 payment (almost the same) supports a mortgage amount of only $445,000. The important message for buyers: locate and purchase your desired property now, and lock in low financing costs for the duration of your ownership. There's also an important consideration for sellers: take advantage of market conditions and price your property to sell now, rather than wait until higher interest rates impact what buyers are able to afford!
 
A TWO-ALARM FIRE occurred at the Water Lily Restaurant in Stone Harbor in the early morning hours this past Sunday. In addition to stopping the fire, paramedics treated a second floor occupant for smoke inhalation. No other injuries were reported.
 
JUST A COUPLE OF WEEKS remain in the prime summer season! Hopefully you set aside plenty of time for summer fun and relaxation! Didn't get enough? Don't worry--our "Second Summer" is coming! Post-Labor Day the Island sees great weather, warm ocean temperatures, and everything is still open--with smaller crowds to boot! If you didn't get enough beach time in July & August, plan a September getaway!
 
THE AVALON/STONE HARBOR UPDATE will return the week of September 3rd.

This Weeks News 8/16/2018

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A FULL SET OF STONE HARBOR BEACH TAGS will be auctioned off by the Stone Harbor Museum. The boxed collection contains one beach tag from every year since they were first required in 1971. The raffle will benefit the museum and help preserve Stone Harbor's history. Tickets cost $10 for one or $25 for three, and will available daily at the museum, from any museum trustee, or at the weekly "Tuesdays at the Tower" event. The drawing will take place Thanksgiving weekend after the Saturday night parade.

View The Boxed Collection Of Tags

"I LOVE AVALON" videos are being sought by the Avalon Chamber of Commerce. Participants are encouraged to submit short, family-fun videos detailing what they love the most about Avalon. The entry with the most votes at the end of the season will win a gift basket; all popular entries will be used to promote Avalon for 2019. Entries can be submitted at www.facebook.com/AvalonNewJersey, or by emailing your video to Info@VisitAvalonNJ.com.
 

 
THE LATEST DOLPHIN VIDEO from Nik Pattantyus includes a couple of aerial acts! Nik filmed his latest dolphin video off the beaches of Stone Harbor while paddle boarding on a calm day. A pod of dolphins swims just beneath the surface as Nik paddles along slowly; later, a dolphin makes multiple leaps into the air!
 

Harlem Globetrotter Bull Bullard takes to the skies to attempt a trick shot!  Check Out The Video
 
THE HARLEM GLOBETROTTER'S Bull Bullard took an airplane ride in order to make his latest trick shot. Bull and the team are back on the court at the Wildwoods Convention Center for games and clinics now through Saturday, August 18th. Use the promo code "SAVE30" to save 30% on your ticket order (restrictions apply). Harlem Globetrotters - Schedule, Tickets & More Info
 
BACKPACK DRIVE: Long & Foster is helping with a "Backpack Drive" in order to provide needed school supplies to students at Glenwood Avenue School in Wildwood. Will you consider helping a student start off the school year with a brand new set of supplies? If you can help, please drop off a set of supplies at our office by Monday, August 20th. Please note--backpacks are not needed, just the supplies to fill them! Here is the list of supplies needed to make one full set:

-2 pocket folders -1 pack of #2 pencils -1 eraser -1 small pencil sharpener -calculator

-2 spiral composition books -2 highlighters -1 ruler -1 three ring binder -1 pack of loose leaf paper

-1 pencil case -1 pack of pens -1 (16) pack of crayons -2 book covers

    
TEN-DIGIT-DIALING comes to the 609 area code beginning Sunday, August 18th. A new 640 area code is being overlaid on top of the 609 geographic area necessitating ten-digit-dialing for local calls within the 609/640 area codes. For calls to any other area code a "1" must be added prior to the area code.
 
NEED SOMETHING? Give me a call, or send me an email! Whether you're thinking about selling this fall, buying next spring, or renting next summer, I'm ready to help! Let's talk!

This Weeks News 8/9/2018

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CHECK YOUR SUMMER BUCKET LIST! Now that we're well into August, it's time to review your summer bucket list again! Whether you want to teach your grandchild to fish, climb the Cape May Lighthouse, see a movie on the beach, or try a new restaurant with friends, set aside the time and make it happen!
 
MORTGAGE RATES have increased slightly in recent months but remain extremely low by historical standards. Mike Mento of Prosperity Mortgage recently shared the chart below which illustrates that point very clearly based on data collected by Freddi Mac. Further rate increases, however, could make it more expensive to purchase or refinance, so whether you're preparing to buy a home, or want to refinance your existing home, contact Mike for mortgage info today at (609) 839-1203 or Michael.Mento@PHMLoans.com. Ready to look at homes? Contact me today!
 

Today's mortgage rates are still low based on historical rate data collected by Freddie Mac.
 
FLOOD ADVISORY SYSTEM: Stevens Institute of Technology in Hoboken, NJ, along with a group of other partners, has developed a free, online flood advisory system. If the indicator nearest your location is green, all is normal. Yellow indicates water levels near flood stage, and orange or red indicate more severe flooding. By selecting a monitoring station, recent water level history can be viewed, along with predicted water levels over the next few days. Check It Out Here: Stevens Flood Advisory System
 

Hammer Harrison of the Harlem Globetrotters shows off his moves on the court.  Catch the Globetrotters in Wildwood August 15th -18th--see below for info. (Mike Centioli photo)
 
THE HARLEM GLOBETROTTERS return to the Wildwoods Convention Center for four games plus skills clinics Wednesday, August 15th to Saturday, August 18th. Fans young and old will marvel at the dazzling moves the Globetrotters make on the court--it's fun for the whole family! Use the promo code "SAVE30" to save 30% on your ticket order (restrictions apply). Harlem Globetrotters - Tickets & More Info
 
DESIGNER HOUSE TOUR: Cape Regional's 7 Mile Island Home & Health Show and Designer House Tour will be held on Saturday, August 11. The Home & Health Show opens at 9 am at Avalon Elementary School and admission is free. The Designer House Tour opens at 11 am. Tickets are on sale now for $35 per person at Avalon Chamber of Commerce, by calling 609-463-4040, or you can Purchase Tickets Online. Tickets will also be on sale at the Home & Health Show starting at 9 am on August 11th - stop by early to enjoy the exhibits and leave for the tour from the school. For more information, call Cape Regional Foundation at 609-463-4040.
 
FLOOD INSURANCE SEMINAR: David Sonner of Land & Sea Services Flood Mitigation and Sam Wierman of the Ide Insurance Agency will present a free seminar covering all aspects of flood insurance on Saturday, August 11th, from 12pm to 2pm at the Stone Harbor Library. Topics of discussion will include NFIP regulations and changes, the Biggert-Waters reform act, flood elevation and venting, plus more. All are welcome; bring your flood elevation certificate to see if you could reduce your flood insurance premium. If attending please RSVP to sam@ideinsurance.com.

This Weeks News 8/2/2018

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"I LOVE AVALON" VIDEO CONTEST: Avalon Chamber of Commerce is sponsoring the second "I Love Avalon" video contest. Contestants may submit short, family-fun videos highlighting what they love most about Avalon. Voting for the best videos will take place throughout the summer. Videos may be submitted on Facebook at WWW.FACEBOOK.COM/AVALONNEWJERSEY or emailed to INFO@VISITAVALONNJ.COM.
 

A fisherman in a kayak plies the waters of the IntraCoastal Waterway. The Avalon Boulevard Bridge is in the background.
 
STONE HARBOR'S FESTIVAL OF LIGHTS boat parade will take place on Saturday, August 11th. Decorated boats of all sizes and types will gather off the Stone Harbor Yacht Club at 8:30pm and travel southward to Stone Harbor's Paradise Bay, then parade northward past Stone Harbor's entire Bayfront. Judging will take place at the Yacht Club, where an after party will also be held. Don't have a boat or a dock? You can view the parade from the 83rd Street fishing pier or the bulkhead at the Municipal Marina at 81st Street, or from any street that ends at the bay. (If driving into or out of Stone Harbor that evening, avoid the 96th Street Bridge, which will open several times to allow boat traffic through!) The Festival of Lights was held for many years until ending in the 1970s; after several decades the event began again in 2014.
 
BACKPACK DRIVE: Long & Foster is supporting a "Backpack Drive" to benefit the Glenwood Avenue School in Wildwood, where students are in need of school supplies for the coming year. The goal is 125 sets of supplies, but time is short! If you can contribute one or more sets of supplies, please stop by our office during business hours to drop them off. Here is the list of supplies needed for each backpack:
 

-2 pocket folders -1 pack of #2 pencils -1 eraser -1 small pencil sharpener -calculator

-2 spiral composition books -2 highlighters -1 ruler -1 three ring binder -1 pack of loose leaf paper

-1 pencil case -1 pack of pens -1 16-pack of crayons -2 book covers

Your support is appreciated! (Note: backpacks are not needed; they will be donated by the Cape May County Association of Realtors.)
 
TEN-DIGIT-DIALING comes to the 609 area code beginning August 18th. A new 640 area code is being overlaid on top of the 609 geographic area necessitating ten-digit-dialing for local calls within the 609/640 area codes. For calls to any other area code a "1" must be added prior to the area code.
 
THUNDER OVER THE BOARDWALK: The hugely popular Atlantic City Air Show returns on August 22nd, featuring the US Air Force Thunderbirds. The show is free and is visible from any beach or boardwalk location in Atlantic City. More than two dozen performances take place beginning at 11:30am, including military jets and cargo planes, helicopters, the US Army Golden Knights parachute team, and a WWII vintage P-51 Mustang demonstration. The Thunderbirds are scheduled to appear about 3pm and are the show's grand finale.
 
SELLING THIS FALL? Talk to me now! Let's discuss the state of the market, review comparable sales, and establish a plan for maximizing your sale proceeds! You may be surprised to learn what your property is worth in today's strong market. Call me today!