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real estate: Late Winter Newsletter - 03/09/11 05:48 AM
THE WORST IS OVER
Knock on wood, the worst weather that winter has to offer has already been served up. The daylight hours are longer now and the smell of spring is in the air. Even a few daffodils are popping up.
Winter did get off to a horrendous start here in Cape May County. The average temperature in both December and January was about six degrees below normal. Brrrr! After getting hit with 17 inches of snow the day after Christmas, the future looked bleak. Surprisingly, that was it. The next six snow-storms basically started as rain and left a … (0 comments)
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real estate: Optimism on the Horizon - 01/25/11 08:42 AM
Optimism on the Horizon, Part II
Back on December 18, 2010, about 4 1/2 weeks ago, we wrote on this blogsite about our optimistic outlook on the local vacation home real estate market here at the shore in Cape May County, New Jersey. We talked about expanding our business, but purposely left you in the dark about how it would be accomplished.
Well, here it is.
We have a signed agreement to purchase the property next door. A former upscale home decor business, the owners were forced to close their lucrative business due to health issues. They listed the 100′x60′ property for sale with … (2 comments)
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real estate: $201,343,605 - 01/25/11 08:38 AM
$201,343,605
Catchy title, huh?
So what does $201,343,605 mean? Unfortunately, it's not how much money we won in the MegaMillions or Powerball lotteries. It's not our national debt, it's not New Jersey's budget deficit.
It is the total value of all properties sold in the Wildwoods in 2010 by realtors belonging to the Cape May County Association of Realtors. That amount includes sales in Wildwood, North Wildwood, West Wildwood, Wildwood Crest, and Diamond Beach. Just think, $200 million changed hands. Dreams were realized for some, while broken dreams were a reality for others. For others, it was business as usual.
In … (0 comments)
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real estate: Temperance Still Alive - 01/20/11 05:43 PM
Temperance Still Alive
Ocean City, a seashore town located at the north end of Cape May County, New Jersey, was founded in 1879 by four Methodist ministers. The town is a popular resort, with plenty of beaches, a Boardwalk, amusement rides, restaurants, retail stores, etc, even the Ocean City Pops. The year-round population of about 15,000 swells to 150,000 on any given day in the summer.
Ocean City gained notoriety for its idiotic Blue Laws, which designated Sunday as a day of no driving, no ocean bathing, no retail sales of any kind, no recreational activities. I guess the only thing you … (3 comments)
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real estate: Finding the Price Point - 01/18/11 06:47 AM
Finding the Price Point
January 18th, 2011
Shows what I know. If you told me back in 2005 that we'd ever be selling properties in the $100,000's again I would have laughed in your face. After all, real estate prices in Cape May County, New Jersey had escalated at 3% per month for a year and a half. Even as the market cooled slightly, they were still going up one percent a month.
Well, here it is 2011. It's a brave new world. We currently have 14 residential listings available to buy that are priced under $200,000. And that doesn't include … (0 comments)
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real estate: The Vacation Home Real Estate Market is back! - 12/23/10 03:02 PM
The Vacation Home Real Estate Market is back! Go ahead and snicker. This Mountain Man guy (and City Girl) is full of bull, you're thinking. Not so fast, my friend. Sure, the national unemployment numbers are still tough to swallow. And yes, we are still seeing more vacant store fronts popping up. Discretionary spending is off, too, though you have to wonder when you see folks descend on a mall and drop hundreds of dollars on trivial junk for Christmas. But here in Cape May County, New Jersey at the shore, the tide has turned in the real estate market. Pun intended. … (0 comments)
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real estate: 'Tis the Season to write Blogs - 12/23/10 02:05 PM
‘Tis the Season to write Blogs With winter firmly entrenched here in South Jersey, it's time to focus on writing articles for this blogsite. As you may have noticed the past two years, we make many additions to this blogsite December through March, but with the warm weather comes other more-pressing responsibilities.
This past year, our thoughts in the warm months turned to many other diversions. First up was The Free Meal Center, Cape May County's first-ever daily soup kitchen. We formed a non-profit organization on January 25, 2010 and took possession of the 4,275 square foot building situated on 2.38 … (2 comments)
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real estate: Late Winter Newsletter - 03/12/10 05:05 AM
ENOUGH ALREADY
The winter of 2010 is being called "Terrible Ten" here in Cape May County. The record has been set as this being the most snowfall ever, with 48" on the ground as of February 11th. At one point in the February 5-6 blizzard - which dropped 20" of wet, heavy snow - 80,000 folks were without electricity in the county.
A week later, there were still thousands without electricity. Hundreds of utility trucks from throughout the East Coast were in Cape May County to help restore power. They've had to replace over a hundred power poles and nine miles … (1 comments)
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real estate: Our Real Estate Market - New Jersey - 01/30/10 05:31 AM
Our Real Estate Market
January 29th, 2010
We realtors can talk all we want about our local real estate market, but there's nothing like good, hard numbers to bring out the true picture. So here are the numbers for the Cape May County, New Jersey market since 2005. These statistics are for properties sold through our local Multiple Listing Service and don't include private sales. They also don't include Ocean City, which belongs to the Atlantic County Association of Realtors and MLS.
In 2005, there were 3,628 properties sold. The asking price total was $2.01 billion and they got $1.92 … (1 comments)
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real estate: The Little Town That Could - 01/11/10 09:44 AM
The Little Town That Could
January 11th, 2010
The Borough of Woodbine is located in the northwest corner of Cape May County, in southern New Jersey. Situated in the Pinelands National Reserve, Woodbine is physically located about 20 miles from the very affluent beachfront communities of Avalon and Stone Harbor and 30 miles from trendy, historic Cape May. But in perception, they are a million miles apart.
Woodbine shouldn't be underestimated. It's the hidden gem of the county. And continually preparing itself for future prosperity.
The rural, wooded town of 2,700 folks boasts an airport, a museum, the largest employer in … (1 comments)
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real estate: Atlantic City Woes Continue - 01/07/10 10:59 AM
Atlantic City Woes Continue
Mountain Man and City Girl
The Blogsite of Jewell Real Estate Agency, Wildwood Crest, NJ 609-729-8505
January 7th, 2010
Pennsylvania Governor Ed Rendell's expected signature today on a bill to allow table games in addition to its existing slot machines is another bit of bad news for Atlantic City. The bill passed the state Senate 28-22 previously and the Assembly 103-89 yesterday. Rendell threatened to layoff 1,000 state workers if the bill wasn't on his desk by tomorrow (Friday, Jan 8, 2010). That got legislators moving.
Pennsylvania will now permit up to 250 table games … (1 comments)
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real estate: No Repeat of Bubble Burst? - 01/04/10 05:29 PM
No Repeat of Bubble Burst?
Mountain Man and City Girl
The Blogsite of Jewell Real Estate Agency, Wildwood Crest, NJ 609-729-8505
January 4th, 2010
As the United States slowly pulls itself out of the depths of the recession, many still wonder how it happened and whether it can happen again? Good questions, and the answers all have to do in some way with real estate.
The biggest cause of the housing bubble was that the Federal Reserve and then chairman Alan Greenspan did not recognize what was happening soon enough. But they took the course that seemed logical … (1 comments)
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real estate: Good Realtors have Passion - 01/02/10 10:02 AM
Good Realtors have Passion
January 2nd, 2010
Like all our fellow realtors, we know that there are all different calibers of realtors. But when you really think about it, what makes a certain percentage of realtors stand above the crowd is PASSION.
My wife Joyce and I opened our first office in 2000, then 10 months later opened a branch office. Later this month will mark the 10th anniversary of us working six days a week - we try to take Wednesdays off together but often spend half the day on our cell phones - and answering our phones 6am to … (4 comments)
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real estate: The Demise of "da inglish langwij" - 01/01/10 08:20 PM
The Demise of "da inglish langwij"
Maybe it's me. But I'm really amazed at how the majority of the American public has no sense of correct spelling and grammar.
Since you are reading this blog instead of sitting home on the couch watching Jerry Springer or hanging out in an alley sipping some Boone's Farm Apple Wine and puffing on a cigarette, you are also probably confounded by how the English language is being butchered.
As a realtor, I am actually getting used to the fact that so many people spell realty as R-E-A-L-I-T-Y. Duh! Isn't reality one of those … (5 comments)
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real estate: Early Winter Newsletter - 12/30/09 06:06 PM
TURN ON THE HEAT
Once again, it seems that summer ended and after a couple short weeks of autumn, we emerged right into winter.
The story through it all here at the shore has been rain, rain, rain. It seems like we get dumped on with two or three inches of rain, then after a couple day reprieve it rains again.
The bright side is that the bugs are gone, the leaves are raked up, and you can have the beach and Boardwalk all to yourself. Enjoy it!
RENTALS ARE BACK
After being mothballed since 2004, Jewell Real Estate Agency has … (0 comments)
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real estate: Just a Feeling - 12/30/09 06:02 PM
Mountain Man and City Girl
The Blogsite of Jewell Real Estate Agency, Wildwood Crest, NJ 609-729-8505 Just a Feeling
Wednesday, December 30th, 2009 As realtors, we often get hunches about our own individual local real estate market, whether it's Monterrey, California or Baton Rouge, Louisiana or Bangor, Maine.
Here at Jewell Real Estate Agency, we have a feeling about 2010. A strong feeling. All the pieces seem to be falling into place that 2010 is going to be a great year. The best since 2005.
Our local real estate market is Cape May County, a small tourist-oriented county at the … (0 comments)
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real estate: Trading Card Program for Wildwood Students - 12/28/09 04:47 AM
I just finished reading a truly inspiring article in this morning's Press about a trading card program that was started by teacher, Betty Harshaw, 10 years ago. Wildwood Elementary and Middle school students earn the trading cards for such achievements as good attendance and being on the honor roll.
These trading cards are not some super star athlete, but Wildwood's own junior and senior students who participate in the All-Star Trading Cards program by being role models to the younger students. There are presently 51 in the program and in order to be featured on the cards they must have at least a 2.5 GPA, … (4 comments)
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real estate: A Good Barometer - 12/27/09 05:05 AM
A Good Barometer
December 27th, 2009
Here at Jewell Real Estate Agency, we sell mostly vacation homes at the Jersey shore. Condos, townhomes, single family homes - they are all elements of the dream families have of owning a second home in the Wildwoods.
Being a second home market, our yearly calendar of sales activity is fairly predictable. By that I mean that just like a school year starts and ends around the same time each year and school vacations are scheduled about the same weeks each year, our business also has regular busy and quiet times.
Our real estate … (2 comments)
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real estate: Atlantic City Gambles on Future - 12/26/09 11:41 AM
Atlantic City Gambles on Future
December 26th, 2009
Since Atlantic City, New Jersey approved legalized gambling back in the late 1970s, the city has always been in the shadow of Las Vegas. Everything the tarnished city did to revitalize and rebuild and build a world-class casino atmosphere drew comparisons to Vegas. And frowns.
Meanwhile, the "Little Engine That Could" plodded on, eventually erecting 13 casinos. The first, Resorts Atlantic City, opened in May, 1978. A year later Caesars debuted, then in December 1979 Bally's opened. The Sands, Harrahs and the Hilton each opened in the latter half of 1980 and the Playboy Casino … (4 comments)
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real estate: Banks: Tight Purse Strings - 12/23/09 06:45 PM
Banks: Tight Purse Strings
Tuesday, December 22nd, 2009 As any active realtor knows, banks are more tight-fisted with loan money now than in the past decade. In the spirit of this Christmas season, you could even call them Scrooge.
The tried and true banking tradition is that banks took deposits from customers, paying a certain interest rate, then lent money to borrowers at a higher rate. The difference in the interest rates was their profit.
The model has changed since the number of bank failures rose from three in 2007 and 25 in 2008 to 140 in 2009.
Banks are … (2 comments)
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Joyce Jewell, GRI, ePRO, ASP, ABR, SFR, RSPS
Wildwood Crest,
NJ
More about me…
Jewell Real Estate Agency
Address: 5602 New Jersey Avenue, Wildwood Crest, NJ, 08260
Office Phone: (609) 729-8505
Cell Phone: (609) 780-7131
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