The Associated Press: APNewsBreak: Feds wont move NJ river dolphins

via The Associated Press: APNewsBreak: Feds wont move NJ river dolphins

Real estate on LBI is the best way to generate long term wealth!

Below are some stats we ran and although housing prices are down from last year, housing prices doubled over the last 8 years. 

Chowderfest 08!

This is the second time in countless years I made it to LBI’s Chowderfest.  Although I’ve been around since before its inception, the most recent years have found me at the VanMeters Harvey Cedar Chowder cook- off.  The VanMeter’s, friends of ours from Harvey Cedars, started and had annually hosted a chowder cook-off traditionally the eve before the official Chowder fest.

Why Rent when you can own?

A new World of Finance

Another wild and whooly week in the mortgage Market. Friday Chase announced that they are not going to underwrite any non agency products. It is the byproduct of wall st. not having any desire for morgage back securities. If Fannie and freddie won’t buy it than the market just got a whole lot smaller.

LBI homes sales 2007 vs. 2008 analysis

Hello Everyone,

We at CENTURY 21 Mary Allen Realty, Inc. have some good news we would like to share regarding the real estate market on LBI. Recently, we completed an analysis of “sold” data regarding Single Family Homes, Condominiums and Multi Family Homes for the first 6 months of 2008 compared to the same time period for 2007.

Our findings show the following…

•Single Family Home Sales are up approximately 1% from a Median Sale Price (MSP) of $930,000. in 2007 to $934,500. in 2008 with a Sale Price (SP) to List Price (LP) Ratio of 94.2% in 2008.

•Condominiums are up approx. 5.19% from a MSP of $506,250. in 2007 to $532,500. in 2008 with a SP to LP Ratio of 92.87% in 2008.

•Multi Family Homes are up approx. 5.37% from a MSP of $658,350. in 2007 to $693,750. in 2008 with a SP to LP Ratio of 92.59% in 2008.

••All data used in the calculations was obtained through the Jersey Shore MLS••

So, contrary to what the Media may be reporting on the real estate industry abroad…as for the market on LBI…now is a great time to purchase! With interest rates hovering near a 40 year low, available mortgages are much safer than programs used a few years ago & a larger selection of inventory to choose from makes this a great time to purchase your own vacation home.

Take this opportunity to talk with your agent at CENTURY 21 Mary Allen Realty, Inc. You’ll be glad you did…

As We Say On LBI… “Have a happy sunset”

Oceanside Duplex Vacation Rental LBI

Clean & neat Oceanside Duplex

Edge of the Bay!

Sitting on the Edge of the Bay

Mortgage Update

This week we have seen a further shrinkage of outlets in the market with the failure of Indymac Bank. With there varied product line and construction funding they will be missed.

Life at the Bay!

Life at the Bay in Ship Bottom, NJ – LBI