Cape May and Atlantic Counties Real Estate Podcast with Chris and Joe Ferzoco

What’s Happening Around the Jersey Shore?

chrisferzoco@gmail.com (Chris Ferzoco) — Thu, 21 Apr 2016 10:21:00 -0700

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Today we wanted to remind you of some events that are going to be happening around the shore this spring. We love talking about real estate, but there are other things to focus on in our beautiful community.

The Ocean City Spring Block Party is on the weekend of May 14th. The OCNJ Triathlon will happen that same weekend.

Closer to Memorial Day we have the annual Open the Beach Ceremony. All the business owners and locals dress up in crazy get-ups and then they all run into the ocean in order to ‘open the beach’ for the summer. The Memorial Beach Challenge also takes place that weekend and the Jersey Pops will be covering Frank Sinatra at the Beach Pier.

In June, we have the annual flower shows and it will also be restaurant week, but we’ll provide more info on those events later.

For communities outside of Ocean City, keep an eye on these events:

The Cape May County Earth Day Fair
The Irish Dance Competition at the Wildwood Convention Center
The Spring Wildwood Boardwalk Classic Car Show
Exit Zero Jazz Festival
Bird Sanctuaries and Haunted House Tours are always good options too

We’re really excited to get into the summer season. There’s no better place to be than on the Jersey Shore during the summer!

Don’t be afraid to ask for more details about these events, we hope to see you at them.

Our Market Report for South Jersey’s First Quarter

chrisferzoco@gmail.com (Chris Ferzoco) — Thu, 21 Apr 2016 09:52:00 -0700

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Our topic today is the first quarter statistics for the South Jersey marketplace. We are going to touch on a few different towns today in the area, but first, here are some statistics.

In the first quarter of 2016, we had 1,400 new properties come on the market. That’s about the same amount as we did last year, but there were certain areas where we saw significant increases in the previous year’s numbers.

In Cape May County, we sold over 400 properties in the first quarter of this year, up 5% from last year. The Cape May Court House area saw its average sale price increase by 3%, and residents of North Cape May saw their average sale price go up 6%. The average time on the market in North Cape May decreased by an average of 1-2 months. In the lower part of Cape May, more properties went on the market, and the days on market increased by about 25 days.

In other areas like Ocean City, we’ve seen inventory levels remain steady the last few years. We are currently back over 900 properties on the market, which has gone up. At the same time, the number of homes that have actually sold has gone down a little bit. We are seeing a downward trend in regards to pricing in Ocean City, as it’s down for the third straight year.

One positive sign we saw was the number of homes sold. Although not as many sold, they were selling at a pretty good pace, indicating buyers in the marketplace are making quick decisions.

Next, let’s take a look at Sea Owl City. This place has an interesting dynamic. Home sales have decreased by about 33% in the last year, but the average sale price was up 11%. Like we said, it’s an interesting market.

Finally, we take a look at Upper Township. Right now, it’s as robust an area as it could be. We’ve seen a 27% increase in home sales and an 11% increase in average sale price. This is a very strong market right now.

There you have it, our stats for the first quarter of 2016 in South Jersey. If you have any questions at all, give us a call or send us an email. We would love to hear from you!

Should You Buy or Sell a Jersey Shore Home Today?

chrisferzoco@gmail.com (Chris Ferzoco) — Tue, 5 Apr 2016 10:12:00 -0700

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Today, we’ll be talking about why you should buy or sell a Jersey Shore home right now. It’s spring, and you know what that means! It’s the busiest real estate season of the year and it’s just kicking off now.

By the beach, there are a few types of consumers: getaways, getaways with rentals, or an investor. If you’re a primary homeowner, buyers will come to you looking for a new school district, relocation, or even just a lifestyle change.

Interest rates dropped again below 4%, and it takes up to 45 days to complete a transaction. That makes it an opportune time to buy! If you act today, you can expect to close before mid May at the latest. There’s never been a better time to have such strong buying power! Don’t miss out.

Inventory levels have increased in all the communities we work in. There will be more options for you as a buyer. However, there will be increased competition, since there are plenty of other buyers out there. You need to decide if you’re willing to fight for your dream home. Otherwise, you can end up with everyone’s leftovers at the end of the season and miss out on your dream home altogether.

If you’re looking to buy or sell in the surrounding area, give me a call or send me an email. I’d be happy to help answer your questions and serve your local real estate needs!

Don’t Miss these Four Clever Ways to Sell Your Home in 2016

chrisferzoco@gmail.com (Chris Ferzoco) — Wed, 17 Feb 2016 09:54:00 -0800

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Today I want to discuss four important things to consider when you list your Jersey Shore home for sale. Sellers often become enamored with all of the moving parts involved in a transaction, but remember to focus on these four:

Price: Your price will be your number one point of marketing and advertising. It says everything about your home, and it needs to be attractive to buyers. They must see a value in it, and this will encourage them to offer more in order to fend off other eager buyers.
Staging: Staging your home lets buyers see your home at its best. Staged homes often sell quicker and for more money, so it’s a worthwhile investment to hire a professional to do this work for you.
Timing: When do you want to sell your home? Different seasons will affect our approach to selling your home. Spring and summer are traditionally the best times to sell.
Interest rates: They are near historic lows, so buyers will be eager to purchase knowing that they can save quite a bit of money over the course of their loan. This will be pushing a lot of extra buyers onto the market.

If you have any questions about how to sell your Jersey Shore home in 2016, please don’t hesitate to contact me!

Avoid Headaches When Listing Your Jersey Shore Home

chrisferzoco@gmail.com (Chris Ferzoco) — Wed, 17 Feb 2016 09:18:00 -0800

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When we prepare our listings for the spring market here in the Jersey Shore, we utilize a to-do list of important questions. Check them out below!

How old are the appliances and other features of your home? How old are key items such as the furnace, roof, appliances, etc.?

When was the last time you had these items professionally inspected? Have they had a chance to expire functionally?

What things do you notice as potentially problematic to prospective buyers? Do a walkthrough of your own home as if you were a potential buyer. Are there rings by your sink or toilet? Are there cracks in your tile floors?

Ultimately, you want your property to look its best. Do all you can to prepare your home before you list! This time especially is a great opportunity to bring in the professionals. Time is of the essence.

We can provide a consultation to access the value of your home. Additionally, it’s financially wise to hire an inspector to inform you of any problems. After you’ve had professionals, including us, take an inside look at your home, we can discuss renovations. Certain upgrades and updates can add value to your property and earn you an admirable return on investment. Let’s maximize your profit!

If you’re thinking of buying or selling in the Jersey Shore this spring, reach out to us by phone or email today! We’d be happy to serve your real estate needs. We can also provide a free real estate evaluation!

New Jersey Real Estate Market Recap

chrisferzoco@gmail.com (Chris Ferzoco) — Mon, 8 Feb 2016 15:20:00 -0800

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In Atlantic County and the shore communities, it's unclear whether or not it's a buyer's market or a seller's market. Ocean City home values actually stayed relatively flat last year, but there was a major increase in the number of homes sold. On top of this, there was a 13-15% increase in price.

The southern half of Cape May County in the Jersey Shore area saw an increase in home sales and a small increase in home prices. In some areas, sales prices rose as much as 6%.

Depending on which area of Jersey you live in, your market may be relatively flat, or it could be peaking. There are many micro-markets in Jersey, so please don't hesitate to contact us if you want to know how your locale is performing.

We look forward to hearing from you!