About Cape May County, NJ

The Listing Log Update ... a useful tool for your listing owners in Ocean City, New Jersey ... or anywhere else for that matter

One of the real problems that confound owners is the lack of follow-up by real estate agents after they have obtained a listing of a particular property. One must wonder why that happens ... maybe it relates to the zeal to obtain sale listings and the more difficult aspect of keeping owners properly informed. Often it also relates to the fact that many agents simply contact listing owners to request to lower the listing price ... that becomes the main and often only reason for the contact. Regardless, one of the easy ways to lose sale listings in tough markets as we now find ourselves is to simply not take enough time to property talk about the real estate market conditions with owners.

There really isn't any particular secret about the process. You must communicate with your listing owners which can be done in a variety of ways: in person (difficult here because of absentee owners), by phone (useful but it depends on what you want to talk about), by email and letter (similar with one being immediate). You could also fax and text (the former being too available for others to possibly read, the latter being one that most older owners in our area would never get). Each agent probably has a favorite; but I try to utilize the process that the owner happens to prefer. However, I also try to send out a monthly "Listing Log Update," which I find to be a very useful tool for not only the owner, but also myself (the agent).

Briefly, I like using the monthly "Listing Log Update" writing three general (but useful) updates about the three major property categories (single family, multi-fmily, and condominium) so any listing owners within a particular category receive a review of that property area. The second part of the update is a review of activity with the property and a further review of the other comparable sale listings either by listing price, location, or some other aspect that makes it comparable. Finally, I make any further recommendations regarding listing price, or other aspects regarding the particular listing and property. I'm sure there are many approaches to this communicative process ... mine is a home-made one that suits me and my owners. dap

Bakley's Deli in Ocean City, New Jersey ... an occasional posting about stores/restaurants/etc. that are open throughout our community

Harry Bakley, his wife and daughter, and a dedicated crew of workers during the summer months handle this corner deli and mini-grocery store in the Northend of the island ... northwest corner of 4th Street & Ocean Avenue. I enjoy the people working there as well as the people coming into the deli. I buy my newspapers there ... where can you find a copy of the Friday and Saturday WALL STREET JOURNAL in this small community in the winter? Why at Bakley's Deli ... that's where.

I also buy the occasional breakfast sandwich there ... usually a sausage and egg on a kaiser roll. But I'm trying to slow down with this choice. They also have some great sandwiches and hot soup in the winter months. Overall, if you need a missing item, our lunch meat, or some other particular missing ingredient; you will probably find it here.

I like this store because it reminds me of many of the family-run stores back in Lancaster County when I was growing up. They disappeared with the arrival of the larger grocery chains. But Bakley's survives because it's convenient, friendly, available, and it has a following to keep it around. That's just another advantage of living on a small barrier island where the winter population drops to around 10,000 or less as we again wait to hopefully survive another nor'easter snow and ice storm with some solid wind arriving at sunset today and again tomorrow.

Now what did that last sentence have to do with Bakley's ... nothing, just goes to show you how rugged our population is around here. dap

870 7th Street ... #216 ... in Ocean City, New Jersey

The Ocean 7 Condominiums located in the Central part of town on the 7th Street beachblock may be some of the best and closest efficiency and 1BR condominiums in Ocean City (NJ). There is also a large swimming pool along the east side of the complex plus a parking space for each unit. Some of the units also have ocean views from the balcony area in front of each unit. And they are certainly close to the boardwalk. Finally, they have on-site management who handle weekly rentals for the individual owners throughout the complex.

There are obviously plus and minus factors to the purchase of this type of unit. But for those who have the money, it does have the potential of being a possible investment. One guiding point is the listing price for a particular unit and its location. #216 which is my listing on the second floor at $196,000 may be one of the better units at one of the lowest prices. It is certainly worth investigating if you have been looking for this kind of property.

It is important to note that Ocean 7 is only open for about six months out of the year ... but it has always rented quite well throughout the time that it is open. You won't find very many condominium properties with parking, a swimming pool, a bit of an ocean view, and this close to the boardwalk at this "just reduced" price. Check it out.

If you have questions, give me a call at 888-215-9935 or email me at Dustin@BeachNotes.net ... you can also review the property at www.FrenchSales.com dap

House Inspection after a fully executed Agreement ... in Ocean City, New Jersey

I put two contracts together in January, 2010 ... one on behalf of a Seller (my listing) and the other on behalf of a Buyer (another agent's listing). Both were single family properties in the Gardens. As we continued on with the House Inspections, I thought it might be interesting to write a posting regarding this phase of the closing process.

Obviously, it is the Buyer's responsibility to obtain the services of an inspector ... and often the participating agent on behalf of that buyer makes a couple of recommendations. Of course, there is a time frame involved as per the contract. In Ocean City (NJ) it is usually a 15 day time frame from the time both the seller and the buyer have signed a fully executed agreement.

With a three-day attorney review as a part of the fifteen days, it becomes important to make arrangements right away for the inspection. When I am working with a buyer, I also like to have the termite inspection at the same time so we are able to complete this phase of the closing process.

The results of the house inspection open the door for the buyer to have his/her second negotiating period. It becomes quite important that the buyer's agent carefully explains to the buyer the importance of major vs minor findings in a report. I try to alert my buyers that the inspection report should be viewed as a long-term planning tool as the buyer purchases the property. However, sometimes I also talk about minor and major issues, safety issues; and I also like to look at $500 as a tool to help explain a significant issue.

But each inspection with each buyer is usually quite a different operation doing the same thing. A lot depends on the approach taken by the individual buyer. This can be "a make or break time frame." And no one wants to lose the sale because of the impact of the home inspection. Another way to approach this relates to how you sense the buyer (or really two buyers: husband and wife) will response to negative news. As the Agent, you must be both an advocate for the Buyers as well as a realist for them in order to move from this phase of closing to the actual settlement date.

In my eighteen years, I have a ton of good and bad stories related to home inspections ... but that will not be a part of this posting. Thanks for taking the time to read this one. dap

Taken from Pleasure Avenue in Sea Isle City looking towards Landis Avenue. The police car was parked to block traffic into 52nd Street because of the leaning pole. Most of the area received 15 to 20 inches of snow with more expected on Wednesday. This will certainly make for a "Polar Bear Plunge" this coming weekend. Most schools were closed on Monday.