January Update and ForecastInterest Rates: Rates have been on a bit of an upward climb for the past month. This is due to a few things: 1) inflation has been stubborn and has remained higher than the Fed likes to see, but most of the inflation is in housing, (which includes rents) and in insurance. Most other pieces were below the Fed’s target of 2%.  Next: Employment has remained strong. There are a lot of mixed signals in the employment report with most new jobs created have been for 16-20yr olds which is typically part time and seasonal and there are reports of job listings being posted in multiple markets since remote work is common, over stating available jobs. In another article just out today -The Wall Street Journal reported that 22% of jobs advertised are fake or not filled an... 01/14/2025

 Interest Rates:  Since the Fed lowered the Fed Funds rate ½% last month we have had mortgage rates climb about ½%.  About half of that move up was from Friday’s employment report that surprised the market with mostly good news on the employment front. If you have ever read any of my letters you should know that Good News is Bad news for interest rates.  There is a bit of a bright side to this. A few Fed Governors have come out and said they still see a need to lower rates and some have even said they are not confident the employment report is accurate, more of a blip on the radar.  Additionally, there is some historic precedence. If you look at the 10yr Treasury has almost always gone up about 3/8ths of 1 percent after the first cut in a cycle. As of today, we are up 0.36% on the 10yr ... 10/09/2024

You read that correctly.  Mortgage rates are higher now than before the Federal Reserve lowered interest rates last week.  First you have to understand how the market moves, especially the long end of the yield curve.  We have had HUGE improvements in rates since the high in fall of 2023 and all summer rates continued to improve in anticipation of the Fed Move on the 18th.Here's a pretty chart of how a 30yr Mortgage back security has been trading:That is the "price" of the 30yr Mortgage backed security, and it is an inverse relationship: Price up = Yield down. So we want to see the price climb, and you can see a nice run up in price (all that green is prices up). The arrow at the top of the chart is the day BEFORE the Fed moved, the red means the market sold off a little ahead of the fe... 09/24/2024

Welcome to a seaside tradition reimagined! The Beach Haven Chowder Cook-Off 2024 marks the 34th anniversary of the beloved Long Beach Island Chowderfest. This year, the festival not only adopts a new name but also brings a refreshed vibe to an already exciting event. Held in the scenic Beach Haven, the Chowder Cook-Off promises to serve up a delightful weekend filled with rich, creamy chowders that have captured the hearts of locals and tourists alike for over three decades.Whether you’re a returning fan or planning your first trip to this culinary extravaganza, the Beach Haven Chowder Cook-Off offers an ideal blend of tradition and new culinary challenges. As the event returns to its roots, local restaurants and businesses are set to play a pivotal role, ensuring that the festival rema... 08/23/2024

The USDA Rural Housing program is an excellent way to purchase a home when you have limited funds.  While we do not typically think of NJ as being a rural area there still are significant parts of the state that are eligible for financing.  Below is the map of NJ showing the eligible areas.  The lighter colors are eligible while the darker colors indicate the ineligible areas.Since my office is located in Ocean County I wanted to zoom in on the map a bit so you can see that huge portions of Ocean County are in eligible areas:In addition to geographical restrictions the USDA also has income limits. A small family in Ocean and Monmouth counties  the Household income limit is $140,600/yr  for family of 5 or more that number is increased. The benefits of a USDA loan are not just the zero do... 07/22/2024

Long Beach Island, New Jersey, is renowned not only as a vibrant summer hotspot but also as an enticing retreat during the quieter autumn and winter months. This 18-mile stretch of pristine shoreline transforms into a serene haven, offering a plethora of unique experiences that diverge from the typical beach vacation. For those who revel in the charm of a cooler, less crowded environment, Long Beach Island (LBI) presents an array of activities that make the off-season an ideal time to explore. This guide delves into the best things to do in Long Beach Island, ensuring your visit is both memorable and exhilarating, regardless of the season.Embrace the Outdoors: Unique Winter Activities in Long Beach IslandBeach Driving AdventuresOne of the most thrilling off-season activities in Long Bea... 07/11/2024

DON'T Wait: Home prices continue to climbFor today's blog I am going to focus on NJ specific numbers since that is where I am located.  You can do the math for your area by vising FHFA.Gov or take a look at the chart I posted a few blogs back that have the FHFA numbers for all the states.The FHFA's first quarter report had Home Prices in NJ increasing 11.58% from March of 2023 to March of 2024. That increase put NJ in 2nd place for appreciation in that time period.We often hear potential buyers wanting to wait for rates to go down before they buy and that would have hurt significantly in the past year.  Here's the Math:If you were looking at a $400,000 home in NJ last year and decided to wait for rates to go down before purchasing.  Guess what that home is worth today?  On average in NJ... 07/10/2024

The best time to buy Real Estate was Yesterday.  The second best time is today.You may have heard in the headlines that Inventory is up... While there has been a large increase in inventory nationally it is far from where we need it to be.  Take a look at the chart above.  You can see inventory began its decline in 2019.  There was a surge of first time buyers coming into the market before the pandemic and while that is a good thing, it does hurt inventory.  Over the past few years we have had First Time buyers be the largest segment of home buyers.   Another segment of the buying market that has been strong over the past few years: Investors.  Both First time buyers and investors take inventory away without replacing it.  Most reports over the past few years have over 1/2 of all buyers... 06/28/2024

Long Beach Island (LBI), NJ, is a beloved destination, especially known for its bustling summer season. However, many find the off-season—fall and winter—equally charming. The 18-mile stretch of pristine Jersey shore offers a unique allure during these months, characterized by tranquil beaches, cozy seaside towns, and an abundance of dining, entertainment, and outdoor activities. Whether you're planning a peaceful getaway or an adventurous excursion, this guide covers the best things to do in Long Beach Island during the off-season.Outdoor Adventure on Long Beach IslandWhen the summer crowds dissipate, Long Beach Island transforms into a serene haven for outdoor enthusiasts. The cooler months create an ideal backdrop for various activities that appeal to all ages and interests.Take Your... 06/18/2024

 Housing FunI’ve begun to see some posts on social media stating that Foreclosures are up a ridiculous percentage. Do not fall for that trap. It is not true. Here are the real year over year numbers: For the most part delinquencies have dropped significantly with the exception of those over 120 days late and foreclosures have been sitting at or near record lows for years now. Overall delinquencies are down 2/10ths of 1 %. The reality is homeowners are sitting on record equity and that alone climbed 9.6% nationally in the same time period as above. Up next we have home prices.  NJ is 2nd on the list for home appreciation. The chart below you can find at FHFA.gov.  NJ increased a whopping 11.5% Year over year at the end of the first quarter.  Who is FHFA?  That is the agency that oversees... 06/12/2024

Nestled where the Atlantic Ocean kisses the bay, Long Beach Island offers more than just sandy beaches and rolling waves—it's a treasure trove for shoppers. From quaint mom-and-pop stores to chic boutiques, shopping in Long Beach Island is not just about purchases—it's about experiencing the community's vibrancy and discovering unique, handcrafted goods. This blog post will take you through the best boutique shopping experiences Long Beach Island has to offer, highlighting the must-visit shops and what makes each of them special.Explore the Charm of Long Beach Island's Boutique ShoppingLong Beach Island stretches for 18 miles, hosting resort towns and serene seaside villages alike. But beyond its sun-soaked shores, it flourishes as a shopping haven. The streets are lined with an eclecti... 06/07/2024

Long Beach Island (LBI), New Jersey, is a beacon of relaxation and seaside serenity, where every moment can be savored like the final sips of your morning brew. In a place where the pace of life gently slows, the local coffee scene offers a warm embrace with its diverse array of artisanal establishments and cozy cafés. Whether you're starting your day with a robust Americano or winding down with a chilled iced mocha, the coffee shops here promise more than just caffeine — they offer a seaside bliss uniquely LBI's.Why Long Beach Island Coffee Shops Are a Must-VisitLong Beach Island is not just a haven for beach goers but also a paradise for coffee lovers. The island's coffee shops serve up much more than your average cup of joe; they are a portal to experiencing local culture and craftsm... 06/07/2024

Long Beach Island, NJ, often referred to as LBI, presents a laid-back lifestyle and the ultimate coastal retreat with its sandy beaches, seaside charm, and picturesque waves. But beyond these lies a world of tranquility and wellness waiting to be discovered. The yoga studios and gyms in Long Beach Island, NJ, offer a refreshing twist to your summer getaway. They provide a unique experience offering a sanctuary for relaxation and rejuvenation amidst the lively beach scene. You’ll find a perfect balance of fitness and mindfulness with certified instructors and various classes. Stretch and strengthen your body, nourish your soul, and maintain optimum health while in LBI!Yoga LBIBlack Sheep StudiosBlack Sheep Studios stands out as a versatile fitness hub with four unique spaces, including a... 06/07/2024

Nestled along the scenic coastline of New Jersey, Long Beach Island stands as a beacon for travelers seeking the quintessence of a beach vacation. Among its numerous attractions, Bay Village LBI holds a special place, merging history with modern-day charm. Established in 1965, Bay Village was conceived by John Maschal to emulate a picturesque 19th-century waterfront village. Today, it continues to draw visitors with its unique blend of shops, eateries, and enduring appeal.Bay Village isn't just a location; it's a vibrant part of the Long Beach Island community, inviting visitors to "Spend the Day at 9th and Bay." Whether you're shopping for unique treasures, tasting locally-made fudge, or enjoying seasonal events like Chowderfest, Bay Village offers a rich, immersive experience. This ar... 06/07/2024

The FHFA just released its latest housing numbers through March and the following is the list by individual state by Month, Year, 5yrs and since 1991.  It is pretty eye opening.Who is the FHFA?  That is the Federal Housing Finance Agency.  They over see all the "agencies": Fannie Mae, Freddie Mac, Ginnie Mae (FHA and VA).  So effectively Homes financed with a conforming loan amount, leaving out Cash buyers, Jumbo loans etc... Just your plain vanilla every day home buyer.  Where does your state rank? Next time you hear someone saying Real Estate is not a good investment, pull this chart out.  What other investment can you live in and enjoy and build wealth at the same time?  (you can find the above at FHFA.Gov)If you are looking to purchase or refinance a home in NJ, please give me a cal... 05/28/2024

Pickleball, a delightful fusion of tennis, badminton, and ping-pong, has taken Long Beach Island, NJ, by storm. With its low entry costs and easy learning curve, it's no wonder why people of all ages are flocking to the courts. Whether you're a newbie or a seasoned player, Long Beach Island (LBI) offers a vibrant Pickleball scene that caters to everyone's needs.Learn how to enjoy playing pickleball on Long Beach Island, NJ!Where to Play Pickleball on Long Beach IslandBay View ParkSituated at 6805 Long Beach Blvd, Long Beach, NJ 08008, Bay View Park is a haven for Pickleball enthusiasts. Boasting three outdoor courts with permanent nets and lines, it provides a perfect setting for friendly matches or intense competitions. The hard surface ensures consistent ball bounces, enhancing the pl... 05/07/2024

Long Beach Island Fantasy Island Amusement Park stands as the premier family destination in Beach Haven, NJ, offering an enchanting escape for all. Let’s embark on a journey through this nostalgic haven, where every corner whispers tales of excitement and joy.Discovering Fantasy Island Amusement ParkFantasy Island Amusement Park holds a special place in the hearts of locals, serving as the sole amusement park on Long Beach Island since its inception in 1984. Nestled in the picturesque town of Beach Haven, this beloved attraction has welcomed generations of thrill-seekers, promising an unforgettable experience filled with laughter, adventure, and cherished memories.A Timeless Escape for All AgesFrom the moment you step foot into Fantasy Island, you are transported to a world where time s... 05/05/2024

Long Beach Island, affectionately known as LBI, is a beloved destination for beach enthusiasts and nature lovers alike. While its golden shores and charming cottages draw visitors year after year, the island also boasts an array of state parks and open spaces, offering a serene retreat from the bustling crowds. Discover the natural wonders and outdoor adventures awaiting you at Long Beach Island State Parks!Barnegat Lighthouse State Park: A Beacon of SerenityBarnegat Lighthouse State Park stands as a historic landmark and a beacon of serenity on Long Beach Island. Its iconic lighthouse, towering over the landscape, offers breathtaking panoramic views of Barnegat Bay, Long Beach Island, and Island Beach. Open daily from Memorial Day through Labor Day, weather permitting, this expansive p... 05/05/2024

Long Beach Island, commonly referred to as LBI, is a slice of paradise known for its stunning white sandy beaches and charming seaside towns. By day, LBI offers a picturesque escape with its beautiful coastlines and quaint boutiques, inviting visitors to relax in its serene atmosphere. As the sun sets, the island reveals a different character, bustling with energy and vibrant nightlife. Whether you're interested in moonlit strolls on the beach or lively evenings filled with music and laughter, LBI has something for everyone. In this blog post, we delve into the colorful after-dark life of LBI, where tropical cocktails, cool sea breezes, and rhythmic beats create unforgettable nights.Join us as we explore some of the top destinations and experiences that make the nightlife in Long Beach ... 05/05/2024

Long Beach Island, nestled along the picturesque Jersey Shore, is not only a haven for beach enthusiasts but also a vibrant culinary destination. Known for its beautiful sandy beaches and serene ocean views, this island offers more than just scenic beauty—it's a gastronomic paradise waiting to be explored. Whether you're craving freshly caught seafood, a sophisticated dining experience, or a casual meal with family, Long Beach Island's diverse array of restaurants caters to all tastes. In this comprehensive guide, we dive into the heart of Long Beach Island's dining scene, exploring the unique flavors and experiences that make each restaurant a must-visit. Prepare to indulge in a journey of culinary delights as we uncover the best restaurants on Long Beach Island.Why Long Beach Island i... 05/05/2024