Come support Avon Elementary School at a fun and exciting fundraiser! A Harvest Evening Hoedown is happening! October 13th from 6 to 10pm at the Avon Municipal Building. This event is open to the public 21 and over. We will be having a food truck, beer and wine, gift baskets and a mechanical bull! Blue highways and the Avon Barksdale’s will be the entertainment! Admission is $20 with a cash beer and wine bar. The prizes are coming in and excitement is building. From surfboards to bicycles, American Girl to Blue Claws, Windmill to Moonstruck, Kindle to a Gucci Bag! Auction baskets and even a raffle for 2 front-row tickets to Billy Joel. We’ve got it all! Any other questions can be emailed to [email protected]
The Real Estate Market at the Jersey Shore for the third quarter of 2018 remained strong with inventory levels low and demand for homes high. Home prices are up 11% in the third quarter of 2018 over the third quarter of 2017. Homes are selling for close to listing price. For details by town, please read below, or click on market updates by town on the home page of theconnollyagency.com.
And if a town you are interested in is not listed please email us at [email protected]
In the third quarter of 2018, 6 single family homes were sold in Allenhurst, for an average selling price of $2,704,166, an increase of 45% over 2017’s third quarter. The homes stayed on the market for an average of 46 days, and sold for 9% less than the listing price.
In the third quarter of 2018, 26 single family homes were sold in Asbury Park, for an average of $372,848, increasing by 23% from 2017 third quarter. The homes stayed on the market for an average of 59 days, and sold for 3% less than the listing price.
In the third quarter of 2018, 8 single family homes were sold in Avon, for an average of $1,171,375, increasing by 23% from 2017 third quarter. The homes stayed on the market for an average of 69 days, and sold for 3% less than the listing price.
In the third Quarter of 2018, 21 single family homes were sold in Belmar, for an average of $778,147, decreasing by 3% from 2017 third quarter. The homes stayed on the market for an average of 60 days, and sold for 2% less than the listing price.
In the third quarter of 2018, 7 single family homes were sold in Bradley Beach, with an average price of $658,285, a 19% decrease from the second quarter. The homes generally sold for 6% less than listing price, and were on the market for an average of 74 days.
In the third quarter of 2018, 21 single family homes were sold in Lake Como, for an average of $728,966, increasing by 17% from 2017 third quarter. The homes stayed on the market for an average of 74 days, and sold for 4% less than the listing price.
In the third quarter of 2018, 8 single family homes were sold in Lake Como, for an average of $605,737, increasing by 18% from 2017 third quarter. The homes stayed on the market for an average of 69 days, and sold for 4% less than the listing price.
In the third quarter of 2018, 21 single family homes were sold in Manasquan, for an average of $818,732, increasing by 19% from 2017 third quarter. The homes stayed on the market for an average of 40 days, and sold for 3% less than the listing price.
In the third quarter of 2018, 90 single family homes were sold in Neptune Township, for an average of $342,838, increasing by .5% from 2017 third quarter. The homes stayed on the market for an average of 48 days, and sold for 3% less than the listing price.
In the third quarter of 2018, 16 single family homes were sold in Neptune City, for an average of $275,125, decreasing by 7% from 2017 third quarter. The homes stayed on the market for an average of 43 days, and sold for 2% less than the listing price.
In the third quarter of 2018, 15 single family homes were sold in Ocean Grove, for an average of $667,326, increasing by 7% from 2017 third quarter. The homes stayed on the market for an average of 65 days, and sold for 6% less than the listing price.
Point Pleasant Beach
In the third quarter of 2018, 23 single family homes were sold in Point Pleasant Beach, for an average of $774,008, increasing by 13% from 2017 third quarter. The homes stayed on the market for an average of 53 days, and sold for 6% less than the listing price.
Spring Lake Heights:
In the third quarter of 2018, 18 single family homes were sold in Spring Lake Heights, for an average of $552,246, increasing by 29% from 2017 third quarter. The homes stayed on the market for an average of 55 days, and sold for 4% less than the listing price.
In the third quarter of 2018, 18 single family homes were sold in Spring Lake, for an average of $2,192,288, decreasing by 7% from 2017 third quarter. The homes stayed on the market for an average of 103 days, and sold for 6% less than the listing price.
In the third quarter of 2018, 12 single family homes were sold in Sea Girt, for an average of $2,075,333, decreasing by .6% from 2017 third quarter. The homes stayed on the market for an average of 53 days, and sold for 7% less than the listing price.
In the third quarter of 2018, 85 single family homes were sold in Wall, for an average of $510,836, decreasing by 2% from 2017 third quarter. The homes stayed on the market for an average of 51 days, and sold for 3% less than the listing price.
Bring all of your ghouls and goblins to Gurlie Locks in Matawan on October 21st. Gurlie locks is located on 419 New Jersey 34 and the event starts at 11am and ends at 1pm. This fantastic Halloween painting party is hosted with Danielle from ArtWorx Events. ArtWorx is a mobile company specializing in fun and creativity that holds public and private events at various restaurants and locations. Each child will paint a Halloween themed canvas trick or treat bag as well as they have the option to have their hair dyed with temporary hair color and glitter. Treats will be served and be careful of some tricks!
Registration is required. The cost per child is $35 which includes paint, canvas bag, temporary hair color, snacks, juice, and water. Each child will also receive a surprise treat. This event is a drop-off event and is open to every child in kindergarten to 8th grade. Any questions you can contact ArtWorx at 732-984-9550 or http://ArtWorxEvents.com.
According to NAR, nationally house prices rose about $5,500; being up after 4 months of decline. NAR believes home prices will rise 9 percent in 2019. According to Zillow, the average home price as $218,000 in September 2018 which is predicted to rise in price by 6.4%. The average price of a rental is $1,442 per month. Despite lumber prices dropping, new housing construction has dropped by 12% in June 2018. Higher mortgage rates and economic uncertainty is partially to blame for the fall. With the upcoming election in 2020, it is predicted that a Trump defeat could send US stock markets and housing markets crashing. It is currently a seller’s market with home prices contentiously increasing and a persistent buyer demand.
With Millennials becoming of the age of home buying, the supply is becoming low and the prices are growing high. Also to blame for surging home prices, a strong economy, low unemployment, and high savings rate. The US housing market is stable and is backed by a strong economic forecast. The prices are predicted to rise in 2019 when trade issues with the EU and China are resolved. Half of all U.S. homes have regained their values since before the 2007 crash, while prices are predicted to rise another 5% by 2019.
In June 2018, there were 1.95 million existing homes for sale, up half a percent from the previous year. Unfortunately, sellers are demanding record prices while first time buyers can not afford them. The generated price rise is forecasted to be double of inflation and wage growth, sitting at over 5%. It is currently a great time to purchase a home; think about a rental income property for a sustained income. Overall, predictions and outlook for the US housing market are positive, as it is on its strongest roll.
Take a virtual tour of Asbury Park by watching our video below:
Avon and Bradley Beach Post Offices to Resume Mail Delivery Operations Smith Announces Significant Postal Changes to Address Local Concerns; Fix Mail Delays, Mishaps
Thank you Chris Smith!
Congressman Chris Smith announced today that he has been successful in convincing the United States Postal Service (USPS) to resume mail delivery operations from the Avon-by-the-Sea and Bradley Beach post offices, a move he called “welcomed news for local residents.”
“The United States Postal Service tried a so-called cost-effective mechanism that has proven unworkable and resulted in mail delivery chaos for residents of Bradley Beach and Avon,” said Smith who hosted a turning-point meeting with residents and key postal officials earlier this summer.
“At a recent meeting I convened in Avon, I presented numerous problems our residents have experienced, and their first-hand witness offered compelling insight into the extraordinary difficulties they faced with mail delivery—and non-delivery—after the Post Office consolidated delivery services for Bradley Beach and Avon into the Belmar Post Office.”
Smith said that at his May meeting, top postal officials listened intently to residents’ concerns, promised to investigate the matter further, improve training and conduct an in-depth survey of mail operations out of Belmar and affecting the other two towns. He said the results of the research and survey were undeniable.
“Postal officials have told me that the decision to scrap the original plan and run mail delivery out of the two local post offices will ‘dramatically improve’ delivery, and help earn back the confidence of postal customers.”
“Relocating the management of the local delivery back into the hometown post offices will mean that there will be greater consistency of letter carriers, more dependable delivery times, as well as reliable package delivery to homes and businesses in Bradley Beach and Avon,” Smith added.
The congressman credited the dozens of local residents and officials who reached out to him for assistance with helping to convince the USPS to ditch the consolidation plan and return the local mail delivery back to the local post offices, which were used solely as retail and mail pick-up locations for the past several years.
In addition, Smith said that the delivery issues recently experienced by residents of the West Belmar section of Wall Township will also be addressed by USPS. He said that his office has been working with the new Belmar Post Office Manager, Rich Disanza, to correct the issues Wall residents have experienced with their delivery from the Belmar Post Office. Returning the delivery responsibilities for Avon and Bradley Beach to their own locales should enable the Post Office to enhance operations out of Belmar including the deliveries in Wall.
Rep. Smith has met with USPS officials three separate times to work and clear up the continuing problems in the area. The first meeting with local and USPS South Jersey District staff, as well as residents, took place in 2016 at which management changes were announced; a second meeting with both USPS staff and residents was held in 2017; and in May of this year, at the Avon Municipal Marina Building with high-ranking USPS staff and numerous affected residents present. At the May meeting, Smith stressed that the minor adjustments made after the previous meetings were not sufficiently addressing the problems, and he called upon the post office to fix the issues once and for all.
The changes will be put in place in the coming weeks, with the goal of having the locally-managed mail delivery in place by the holiday rush.
BBQ, craft beers, and fun for the whole family! This September 1st to 3rd enjoy juicy BBQ while drinking refreshing craft beer at Monmouth Race Track. The craft beer garden will hold more than 40 craft beer selections with the opportunity to sample 10 of these for only $10! The samples are 2 ounces each and when finished, you can bring home your souvenir sampling glass. There will be 18 vendors with different foods from BBQ to doughnuts to ice cream. Some include Jack’s Goal Line Stand, Joe Smoke Bar-B-Que, Local Smoke BBQ, Ma & Pa’s Tex-Mex BBQ, Magic Mike’s Smoked Meats, Shore Good Eats N Treats, The Good Donut Shop, Wild Bill’s Olde Fashioned Soda Pop Company.
This event isn’t only for adults as they will have entertainment for children as well. Some kid friendly activities include a bouncy house, free pony rides, and a clown. Each of the three days will have a different artist/band performing. Day one will be country artist Jessica Rose, day two is Sundries, and the last day is Pez Head. There is a small admission and parking fee on top of the purchase of food and beverages but parking is only $5 and grandstand admission is $5. Children 12 and under are free and no pets are allowed. Gates will open at 7:30 am allowing all day fun!
Do you remember those days when the wealthy wouldn’t even think about stepping foot into Asbury Park, let alone buying a house there? Well, those days have come to an end as the housing prices and quality of the homes have gone up. Budget travel magazine ranked Asbury Park as the “coolest small town in America”. Asbury has had the comeback of a lifetime with a revitalized boardwalk, great shopping, and trendy restaurants and bars. With so much to do, it’s not hard to believe that the prices have surged. Asbury Park has gorgeous beaches, The Stony Pony, and all around creativity and diversity. Asbury Park transforms from a bustling family beach town to a lively nightlife scene.
Real estate prices have sky rocketed with summer rentals being as high as $40,000, higher than the median income. Asbury Park is one of the most in-demand locations along the Jersey Shore. Beach view homes have been selling upwards to a million and above. In the past 5 years, the average price for a home has gone up 43%, with a $42,000 increase in median prices in just a year. Not only have home prices risen, but also has the rent. The average rent in 2012 was $1,026 and in 2017 was $1,486. The demand for Asbury Park housing has been so high that the frenzy has spilled over into nearby towns such as Ocean Township and Long Branch real estate market. The spillover has caused the nearby localities to receive an increase in home prices as well. Ocean Township’s median prices went from $330,000 to $395,000 and Long Branch went from $242,000 $335,000.
For the second straight week, long term mortgage rates dropped. Lower rates have fallen and continue to fall to spark home sales. Fixed rate mortgages dropped .06% in the past week. Long term loan rates reached the highest its been in 7 years reaching 4.66 percent. That is significantly higher than last year which was 3.89 percent. Rates dropped .04 percent for a 15 year, fixed rate loan. The drop in rates is in hope to set off home sales. Rising home prices, small inventory of affordable homes, and higher mortgage rates are the cause of the plateau in home sales.
What Mortgage Works Best for You?
A 30 year loan has steady and predictable payments paid off for 30 years. This allows someone more time and lower payments, however, includes more interest. This also has a higher interest rate percentage than any other mortgage loan.
A 15 year loan also has steady and predictable payments that are to be paid off in 15 years. Despite having higher payments, there is less interest and a lower interest rate.
A VA loan is for Veterans or Active duty military. In most cases have no down payment, have competitive rates, and can be fixed or adjusted.
A FHA loan has less strict credit score requirements and can have a down payment as little as 3.5 percent. This is beneficial for those with lower credit scores or who do not have a sizable down payment to put down. This can also be fixed or adjustable.