Jersey Shore Real Estate and Community News

Existing Home Sales Jump in January

 

The National Association of Realtors released its Existing Home Sales report, and it showed that January brought a 3.1% rise when compared to December. NAR’s Chief Economist, Lawrence Yun, noted that "listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year." Even though sales did jump for the month, they are still 1.7% lower from January 2023 versus January 2024 trending upward.


Inventory increased 2% month-over-month to 1.01 million units and is up 3.1% year-over-year. There is a 3-month supply of homes, which is seen as tight because around 5 months is considered normal. The median home price increased by 5% from a year ago to $379,100. Homes remained on the market for 36 days on average, which is up from 29 days in December. We are definitely seeing a slowdown at this time of year (January) as we normally see. First-time homebuyers accounted for 28% of sales, down from 29% in the previous report. Cash buyers accounted for 32% of sales, a jump from 29%. Investors made up 17%, up from 16% in last month's report.


Overall, sales are strengthening in the Existing Home sector as we see them jump in the January data.  As rates improve and more homes come to market, we should see this trend continue in the next reports to come.

Feb. 28, 2024

Existing Home Sales Jump

Existing Home Sales Jump in January

 

The National Association of Realtors released its Existing Home Sales report, and it showed that January brought a 3.1% rise when compared to December. NAR’s Chief Economist, Lawrence Yun, noted that "listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year." Even though sales did jump for the month, they are still 1.7% lower from January 2023 versus January 2024 trending upward.


Inventory increased 2% month-over-month to 1.01 million units and is up 3.1% year-over-year. There is a 3-month supply of homes, which is seen as tight because around 5 months is considered normal. The median home price increased by 5% from a year ago to $379,100. Homes remained on the market for 36 days on average, which is up from 29 days in December. We are definitely seeing a slowdown at this time of year (January) as we normally see. First-time homebuyers accounted for 28% of sales, down from 29% in the previous report. Cash buyers accounted for 32% of sales, a jump from 29%. Investors made up 17%, up from 16% in last month's report.


Overall, sales are strengthening in the Existing Home sector as we see them jump in the January data.  As rates improve and more homes come to market, we should see this trend continue in the next reports to come.

Posted in Market Updates
Feb. 10, 2024

Jersey Shore Restaurants

The Jersey Shore is renowned for its diverse culinary scene, offering everything from casual beachside eateries to upscale waterfront dining. Here are some restaurants worth exploring along the Jersey Shore:

 

Casual Dining and Seafood:

1. **The Lobster House** - Cape May: A waterfront institution offering fresh seafood dishes in a casual setting.

2. **Maruca's Tomato Pies** - Seaside Heights: Famous for its signature tomato pies, a must-try Jersey Shore specialty.

3. **Klein's Fish Market & Waterside Cafe** - Belmar: A family-owned seafood market and restaurant with waterfront dining.

4. **Bahama Breeze** - Toms River: A Caribbean-inspired restaurant offering seafood, tropical drinks, and live music.

 

Beachfront Eateries and Boardwalk Favorites:

1. **The Sawmill** - Seaside Park: A popular boardwalk spot known for its giant slices of pizza and beachfront views.

2. **Martell's Tiki Bar** - Point Pleasant Beach: A lively waterfront tiki bar offering seafood, cocktails, and live entertainment.

3. **The Columns** - Avon-by-the-Sea: A historic beachfront restaurant serving seafood and American classics with ocean views.

4. **Manco & Manco Pizza** - Ocean City: A legendary boardwalk pizzeria known for its thin-crust pizza slices.

 

Fine Dining and Waterfront Restaurants:

1. **Peter Shields Inn & Restaurant** - Cape May: An elegant fine dining restaurant housed in a historic beachfront mansion, offering seasonal menus and ocean views.

2. **The Grand Tavern** - Neptune City: A modern American restaurant featuring a diverse menu, craft cocktails, and waterfront dining along the Shark River.

3. **Rooney's Oceanfront Restaurant** - Long Branch: A sophisticated oceanfront eatery offering seafood, steaks, and panoramic views of the Atlantic Ocean.

4. **McLoone's Pier House** - Long Branch: A stylish waterfront restaurant serving seafood, steaks, and American fare with outdoor seating overlooking the ocean.

 

Ethnic Cuisine and Specialty Restaurants:

1. **Mamma Lucia's** - Manasquan: A cozy Italian restaurant known for its homemade pasta dishes and classic Italian cuisine.

2. **Blend on Main** - Manasquan: A contemporary American restaurant offering inventive dishes made with locally sourced ingredients.

3. **Kaya's Kitchen** - Belmar: A vegetarian and vegan-friendly restaurant serving creative plant-based dishes in a casual atmosphere.

4. **Sawa Asian Cuisine** - Middletown: A sushi and Asian fusion restaurant offering a diverse menu of sushi rolls, sashimi, and Asian-inspired dishes.

 

Food Trucks and Casual Bites:

1. **Asbury Park Food Truck Park** - Asbury Park: A vibrant outdoor food truck park featuring a rotating selection of food trucks offering diverse cuisines.

2. **Red Bank Food & Wine Walk** - Red Bank: A foodie event held in downtown Red Bank featuring tastings from local restaurants, food trucks, and specialty shops.

3. **WindMill Hot Dogs** - Long Branch: A Jersey Shore classic known for its hot dogs, burgers, and cheese fries served from a retro-style windmill-shaped building.

 

Whether you're craving fresh seafood, beachside bites, or upscale dining with ocean views, the Jersey Shore offers a culinary experience to satisfy every palate.

 

Feb. 5, 2024

Wall Township NJ

Wall Township, New Jersey, offers a mix of recreational activities, cultural attractions, and outdoor adventures. Here are some things to do in Wall, NJ:

  • Allaire State Park: This state park is located partially in Wall Township and offers hiking, biking, and horseback riding trails. It's also home to the Historic Allaire Village, where visitors can step back in time and explore 19th-century buildings, craft demonstrations, and historical reenactments.

  • Spring Lake: Just a short drive from Wall Township, Spring Lake offers a beautiful beach and boardwalk area for swimming, sunbathing, and strolling along the oceanfront.

  • Golfing: Wall Township is home to several golf courses, including the public course at Shark River Golf Course and private clubs like Jumping Brook Country Club and Wallach's Farm.

  • Fishing and Boating: Wall Township is located near the Shark River and offers opportunities for fishing and boating. There are marinas and boat launches where you can access the water for a day of fishing or leisure boating.

  • Shopping: The township has various shopping centers and boutiques where you can browse for clothing, home goods, and more. The Jersey Shore Premium Outlets, located nearby in Tinton Falls, offer a wide range of retail stores.

  • Local Events: Check out any local events happening in Wall Township, such as community fairs, farmers' markets, and holiday celebrations. The township often hosts events at parks and recreational areas.

  • Dining: Enjoy dining at local restaurants and eateries in Wall Township. From casual diners to upscale dining experiences, there are options to suit every taste bud.

  • Wineries and Breweries: Explore nearby wineries and breweries for tastings and tours. Several wineries and breweries are located within a short drive from Wall Township, offering a chance to sample locally crafted beverages.

  • Camping: If you're into outdoor adventures, consider camping at nearby campgrounds such as Allaire State Park or campgrounds along the Jersey Shore.

  • Historical Sites: Explore historical sites in the area, including the Wall Township Historical Society Museum, which offers exhibits and information about the township's history.

These are just a few of the many things to do in Wall Township, NJ, providing options for outdoor enthusiasts, history buffs, and those seeking relaxation by the shore.

 

Jan. 30, 2024

Abury Park NJ

Asbury Park, New Jersey, is a vibrant city located along the Jersey Shore. It's known for its beautiful beach, boardwalk, and vibrant arts scene. Here are some key points about Asbury Park:

  1. Beach and Boardwalk: Asbury Park boasts a scenic beach and a lively boardwalk that offers a range of activities including sunbathing, swimming, and strolling along the oceanfront.

  2. Music Scene: Asbury Park has a rich musical heritage and is famous for its connection to Bruce Springsteen, who got his start playing at venues like The Stone Pony. The city continues to be a hub for live music, with many local venues showcasing both established and up-and-coming artists.

  3. Art and Culture: The city has a thriving arts community with numerous galleries, art installations, and cultural events throughout the year. The Asbury Park Boardwalk often hosts art shows and festivals.

  4. Historic Landmarks: Asbury Park is home to several historic landmarks, including the Paramount Theatre and Convention Hall, which are iconic symbols of the city's past and present.

  5. Diverse Dining Scene: Asbury Park offers a diverse range of dining options, from casual eateries to upscale restaurants, with many establishments featuring fresh seafood and locally sourced ingredients.

  6. Revitalization Efforts: In recent years, Asbury Park has undergone significant revitalization efforts, with new businesses, restaurants, and residential developments breathing new life into the city.

  7. Annual Events: The city hosts various events throughout the year, including the Asbury Park Music & Film Festival, Oysterfest, and the Asbury Park Restaurant Tour, attracting visitors from near and far.

 

Overall, Asbury Park is a dynamic and culturally rich destination with something to offer visitors of all ages and interests. Whether you're looking to relax on the beach, explore the local arts scene, or enjoy a night out on the town, Asbury Park has something for everyone.

Jan. 29, 2024

Tips for first time homeowners

Essential Tips for First-Time Homeowners: A Comprehensive Guide

Essential Tips for First-Time Homeowners: A Comprehensive Guide

Congratulations on becoming a first-time homeowner! Owning a home is an exciting milestone, but it also comes with a whole new set of responsibilities. From maintenance to budgeting, there’s a lot to consider. But fear not! In this comprehensive guide, we’ll provide you with essential tips to help you navigate the world of homeownership with confidence. Let’s dive in!

1. Prioritize Home Maintenance:

Keeping your new home in good shape is crucial. Regular maintenance can help prevent costly repairs down the line. Create a schedule for tasks like cleaning gutters, inspecting HVAC systems, and changing air filters. Don’t forget to maintain your lawn and garden too! A little effort now will go a long way in preserving the value and comfort of your home.

2. Understand Your Finances:

Owning a home comes with financial responsibilities beyond the monthly mortgage payment. Take time to understand your budget, including property taxes, insurance, and utility bills. Create an emergency fund to cover unexpected repairs or maintenance issues. It’s also wise to review your homeowners’ insurance policy and make sure it adequately covers your needs.

3. Get to Know Your Neighborhood:

One of the joys of homeownership is becoming part of a community. Take the time to explore your new neighborhood, meet your neighbors, and get involved in local activities. It’s a great way to find out about resources, services, and amenities that can enhance your living experience.

4. Stay Organized with Important Documents:

Keep all important documents related to your home in a safe, accessible place. This includes your mortgage agreement, insurance policies, warranties, home improvement receipts, and contracts with service providers. Having everything organized will save you time and stress if you need to refer to them later.

5. Plan for Home Improvements:

Make a list of home improvements you’d like to tackle over time. Prioritize them based on urgency and budget. Whether it’s updating the kitchen, remodeling the bathroom, or adding a deck, having a plan will help you achieve your vision for your home while staying within your means.

6. Learn Basic DIY Skills:

While it’s always good to call professionals for complex repairs, learning some basic DIY skills can save you time and money. Simple tasks like fixing a leaky faucet, changing light fixtures, or painting a room are handy skills to have. There are plenty of online tutorials and workshops available to help you get started.

7. Build a Reliable Support Network:

Don’t hesitate to seek advice from family, friends, or even online communities of homeowners. They can offer valuable insights and share their experiences. Additionally, having trusted professionals like plumbers, electricians, and contractors on speed dial will give you peace of mind when you need help.

Conclusion:
Becoming a first-time homeowner is an exciting milestone, but it’s important to be prepared for the responsibilities that come with it. By following these essential tips, you’ll be well-equipped to tackle the challenges that may arise. Remember, homeownership is a journey, and with a little knowledge and planning, you can create a haven that’s truly your own. Enjoy your new home and happy homeownership!

 

Jan. 29, 2024

Things to do at the Jeresy Shore

The Jersey Shore offers a wide range of activities for visitors of all ages. Here are some popular things to do:

Beach Activities:

  • Sunbathing and Swimming: Enjoy the sandy beaches and swim in the Atlantic Ocean.

  • Beach Sports: Play beach volleyball, frisbee, or soccer on the shore.

  • Surfing: Try your hand at surfing at renowned surfing spots like Long Beach Island, Belmar, or Asbury Park.

  • Fishing: Cast a line from the shore or join a fishing charter for deep-sea fishing.

Boardwalk Attractions:

  • Boardwalks: Visit iconic boardwalks like Seaside Heights, Wildwood, or Point Pleasant Beach for arcade games, amusement rides, and food stands.

  • Carnivals and Rides: Enjoy rides, roller coasters, and carnival games at amusement parks along the boardwalk.

  • Shopping: Explore shops and boutiques for beachwear, souvenirs, and unique gifts.

  • Boardwalk Food: Indulge in classic boardwalk fare like funnel cakes, saltwater taffy, hot dogs, and ice cream.

Outdoor Adventures:

  • Boating and Water Sports: Rent kayaks, jet skis, or paddleboards for water adventures.

  • Biking: Rent bikes or bring your own to explore scenic bike paths along the shore.

  • Nature Reserves: Visit coastal parks and nature reserves for hiking, birdwatching, and wildlife spotting.

Cultural and Historical Attractions:

  • Lighthouses: Visit historic lighthouses like Barnegat Lighthouse or Cape May Lighthouse for panoramic views and guided tours.

  • Historic Sites: Explore historic towns and sites like Cape May's Victorian architecture, Ocean Grove's historic tent community, or the Sandy Hook Lighthouse.

  • Museums: Learn about local history, maritime heritage, and marine life at museums and visitor centers along the shore.

Events and Entertainment:

  • Concerts and Live Music: Attend outdoor concerts, live music performances, and festivals hosted at beach venues and boardwalks.

  • Fireworks: Watch fireworks displays held during summer holidays and special events.

  • Nightlife: Experience vibrant nightlife with bars, clubs, and beachfront restaurants offering entertainment and live music.

Relaxation and Wellness:

  • Beach Yoga: Join beach yoga classes for a relaxing and rejuvenating experience.

  • Spas and Wellness Centers: Treat yourself to spa treatments and wellness activities offered at resorts and wellness centers along the shore.

  • Beachfront Dining: Enjoy oceanfront dining with fresh seafood and scenic views at beachfront restaurants.

 

Whether you're seeking adventure, relaxation, or family-friendly fun, the Jersey Shore has something for everyone to enjoy!

Posted in Community News