Much to our delight, the fourth quarter market activity remained strong in Sea Isle City. 57 units sold throughout what is typically the slowest three months of the year. As of today, there are 26 additional units pending sales. There are a lot of factors that determine the market activity, such as interest rates, inventory and long term gain rates, however we are cautiously optimistic for the upcoming Spring season.
As with the last quarter, most of the activity has been between $500,000 and $800,000. The $1million+ market is still a little slow in Sea Isle, but we are seeing some initial signs that that market may begin to pick up. Hopefully those initial indications prove to be true and the $million market begins to sell again.
For details on the units sold in Sea Isle in the past quarter, please click the link below.
57 Units Sold:
Click Here to View Listings
If you have any questions about your property or if you are considering selling, call your Laricks Real Estate agent today. Our marketing is second to none and that is what you need when selling your property at the beach.
Tuesday, January 19, 2010
Thursday, October 15, 2009
2009 Third quarter market update
After the first 9 months in 2009, there has been a high volume of sales in certain segments of our market while others have been a little slower to find buyers. For example, the $500,000 - $800,000 new and newer market has remained very strong. 54% of all sales in Sea Isle fall within these prices. On the other hand, the higher end properties like the beachfronts and bayfronts have had the least demand in Sea Isle. This has resulted in some significant price reductions to facilitate a sale.
Having said all of that, the overall market has remained strong and values now appear to be at the bottom. In this quarter, 32 units were sold in Sea Isle City. Below is a link to more details.
32 units sold: Click Here to View Listings
Beyond location and size, there are other factors that influence a property's value. For a better understanding on a specific property value, please do not hesitate to call us.
This is a fact-based message intended to give you first hand, accurate knowledge about market conditions and property values in Sea Isle City. This is not intended to suggest that all units were sold by Laricks Real Estate. Details taken from the CMC MLS.
Having said all of that, the overall market has remained strong and values now appear to be at the bottom. In this quarter, 32 units were sold in Sea Isle City. Below is a link to more details.
32 units sold: Click Here to View Listings
Beyond location and size, there are other factors that influence a property's value. For a better understanding on a specific property value, please do not hesitate to call us.
This is a fact-based message intended to give you first hand, accurate knowledge about market conditions and property values in Sea Isle City. This is not intended to suggest that all units were sold by Laricks Real Estate. Details taken from the CMC MLS.
2009 Second quarter market update
Although the last half of 2008 brought a lot of economic uncertainty, the demand for beach houses has remained high. All things considered, there have been a lot of transactions in Sea Isle City. This quarter, 58 units were sold. For more details, please click the link below.
58 units sold: Click Here to View Listings
If you have a questions about the market or your property's value, please do not hesitate to contact us.
This is a fact-based message intended to give you first hand, accurate knowledge about market conditions and property values in Sea Isle City. This is not intended to suggest that all units were sold by Laricks Real Estate. Details taken from the CMC MLS.
58 units sold: Click Here to View Listings
If you have a questions about the market or your property's value, please do not hesitate to contact us.
This is a fact-based message intended to give you first hand, accurate knowledge about market conditions and property values in Sea Isle City. This is not intended to suggest that all units were sold by Laricks Real Estate. Details taken from the CMC MLS.
2009 First quarter market update
From January 1st - March 31st, 2009 there were 32 units sold in Sea Isle. Below is a link to the additional details on each unit.
32 units sold: Click Here to View Listings
If you have a questions about the market or your property's value, please do not hesitate to contact us.
This is a fact-based message intended to give you first hand, accurate knowledge about market conditions and property values in Sea Isle City. This is not intended to suggest that all units were sold by Laricks Real Estate. Details taken from the CMC MLS.
32 units sold: Click Here to View Listings
If you have a questions about the market or your property's value, please do not hesitate to contact us.
This is a fact-based message intended to give you first hand, accurate knowledge about market conditions and property values in Sea Isle City. This is not intended to suggest that all units were sold by Laricks Real Estate. Details taken from the CMC MLS.
Wednesday, February 25, 2009
Sea Isle City approves lease for amusement park
By BRIAN IANIERI Staff Writer, 609-463-6713
Published: Wednesday, February 25, 2009
SEA ISLE CITY - City Council gave its approval Tuesday to the operators of Gillian's Wonderland Pier to run an amusement park on city land.
The approval allows the Ocean City-based amusement park operators to lease vacant city-owned land along John F. Kennedy Boulevard for the next 10 years. The company offered Sea Isle City 10 percent of the annual gross revenues of the park, including rides and concessions, as payment for the lease.
Gillian's Funland of Sea Isle City will include 10 or 11 kiddie rides.
It will be the first amusement park in Sea Isle City in almost 10 years, after the closing of Fun City, a 30-year staple of the resort that was sold to developers.
Opening an amusement park in the midst of a recession does not daunt Jay Gillian, whose grandfather started Gillian's Fun Deck in Ocean City about 1930, in the midst of the Great Depression.
"My grandfather has always told me, everyone always has money to put someone on a Merry Go Round," Gillian said. "It's the truth. We seem to always take care of our children."
Gillian said he had his eye on Sea Isle City for an amusement park for years.
But the price of real estate precluded it.
Gillian seized the opportunity when the city offered the lease on the land. The city is planning to build a Boardwalk-type walkway at the nearby marina later this year.
"If we had to buy the property, it would never be worth it. It would just cost millions of dollars for the land," he said.
Gillian said he expects to open the park by Memorial Day and is planning hours from 1 to about 9 p.m.
Mayor Leonard Desiderio has high hopes for the amusement park and its potential to keep visiting families in the city.
"I can remember getting hundreds and hundreds of letters saying, 'Fun City is closed, we need an amusement park,'" Desiderio said. "I can recall trying a couple of times to bring amusement parks to a couple different locations."
The specific rides for the amusement park have not yet been determined, but officials said they will be geared toward the very young.
"I really wanted to keep it to little kids, not to teenagers," Gillian said.
Under the agreement, the city can pre-approve any ride.
Published: Wednesday, February 25, 2009
SEA ISLE CITY - City Council gave its approval Tuesday to the operators of Gillian's Wonderland Pier to run an amusement park on city land.
The approval allows the Ocean City-based amusement park operators to lease vacant city-owned land along John F. Kennedy Boulevard for the next 10 years. The company offered Sea Isle City 10 percent of the annual gross revenues of the park, including rides and concessions, as payment for the lease.
Gillian's Funland of Sea Isle City will include 10 or 11 kiddie rides.
It will be the first amusement park in Sea Isle City in almost 10 years, after the closing of Fun City, a 30-year staple of the resort that was sold to developers.
Opening an amusement park in the midst of a recession does not daunt Jay Gillian, whose grandfather started Gillian's Fun Deck in Ocean City about 1930, in the midst of the Great Depression.
"My grandfather has always told me, everyone always has money to put someone on a Merry Go Round," Gillian said. "It's the truth. We seem to always take care of our children."
Gillian said he had his eye on Sea Isle City for an amusement park for years.
But the price of real estate precluded it.
Gillian seized the opportunity when the city offered the lease on the land. The city is planning to build a Boardwalk-type walkway at the nearby marina later this year.
"If we had to buy the property, it would never be worth it. It would just cost millions of dollars for the land," he said.
Gillian said he expects to open the park by Memorial Day and is planning hours from 1 to about 9 p.m.
Mayor Leonard Desiderio has high hopes for the amusement park and its potential to keep visiting families in the city.
"I can remember getting hundreds and hundreds of letters saying, 'Fun City is closed, we need an amusement park,'" Desiderio said. "I can recall trying a couple of times to bring amusement parks to a couple different locations."
The specific rides for the amusement park have not yet been determined, but officials said they will be geared toward the very young.
"I really wanted to keep it to little kids, not to teenagers," Gillian said.
Under the agreement, the city can pre-approve any ride.
Sunday, October 5, 2008
Wind mills off the coast of Sea Isle
New Jersey's Board of Public Utilities signed approved a proposal to build windmills off the coast of Avalon/Sea Isle as early as 2010. The site will be located 20 miles off the coast in 110 feet of water. According to the predictions, "could supply the annual needs of about 125,000 homes" once it's completed in 2012.
I like the idea of renewable energy. I think it's the future. Hopefully it works without any environmental impact.
To read the article published in the Press of Atlantic City, click here:
http://www.pressofatlanticcity.com/185/story/275718.html
Wednesday, August 27, 2008
Selling your beach house in today's market.
Q: Can you sell your Sea Isle house in today’s market? If so, what is the secret?
A: That’s a great question. From January 1st through today, 139 units have sold in Sea Isle City. So what is the secret to selling your house? The secret is this, if it’s not new, make it like new.
We have sold a lot of homes over the past year and the one thing that they almost all have in common is that they are either new constructions or in “like new” condition.
One example is a condo that we had for sale on 45th and Landis. This unit was on the market for about 7 months with some activity, but no true interest. The sellers then took our advise and invested some money into the kitchen and furniture. Once it was completed, the unit went under contract in 3 months and sold for 98% of the asking price!
Another example comes with a buyer that we had been working with for well over a year. The husband and wife said that price was the most important factor in their buying decision, even if they have to do some work to the unit. We spent countless days touring houses in their price range – all needed some work and just didn’t do it for them. Then a 10 year old townhouse came on the market. The seller of that townhouse made two very wise decisions. First, he priced it right. Second, he repainted, re-carpeted and refurnished the house (even the tags were left on the sofas). This unit was out of the buyers target price range, but in the end, they bought it at 93% of the asking price and settled 55 days after it was put on the market. They referred to it as the 10 year old new house.
A third example was a 3 year old townhouse that sold in the Spring. The house and furniture were both in excellent condition. However the sellers still did some touch up painting and had the carpets professionally cleaned. It sold in 56 days for 94% of the asking price.
In this market, price point is very important, however isn’t enough to sell a house. The winning strategy is a combination of price point and reinvesting in the sale property. Successful sellers have a firm understanding of their market value and what it takes to create a “turn key” unit.
Please do not hesitate to call if you would like to schedule an appointment with a Laricks Real Estate agent to meet you at your property to discuss a plan for selling your house.
A: That’s a great question. From January 1st through today, 139 units have sold in Sea Isle City. So what is the secret to selling your house? The secret is this, if it’s not new, make it like new.
We have sold a lot of homes over the past year and the one thing that they almost all have in common is that they are either new constructions or in “like new” condition.
One example is a condo that we had for sale on 45th and Landis. This unit was on the market for about 7 months with some activity, but no true interest. The sellers then took our advise and invested some money into the kitchen and furniture. Once it was completed, the unit went under contract in 3 months and sold for 98% of the asking price!
Another example comes with a buyer that we had been working with for well over a year. The husband and wife said that price was the most important factor in their buying decision, even if they have to do some work to the unit. We spent countless days touring houses in their price range – all needed some work and just didn’t do it for them. Then a 10 year old townhouse came on the market. The seller of that townhouse made two very wise decisions. First, he priced it right. Second, he repainted, re-carpeted and refurnished the house (even the tags were left on the sofas). This unit was out of the buyers target price range, but in the end, they bought it at 93% of the asking price and settled 55 days after it was put on the market. They referred to it as the 10 year old new house.
A third example was a 3 year old townhouse that sold in the Spring. The house and furniture were both in excellent condition. However the sellers still did some touch up painting and had the carpets professionally cleaned. It sold in 56 days for 94% of the asking price.
In this market, price point is very important, however isn’t enough to sell a house. The winning strategy is a combination of price point and reinvesting in the sale property. Successful sellers have a firm understanding of their market value and what it takes to create a “turn key” unit.
Please do not hesitate to call if you would like to schedule an appointment with a Laricks Real Estate agent to meet you at your property to discuss a plan for selling your house.
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