Tuesday, September 1, 2020 / by Steven DiPeso
In Cape May, a Newport Mansion styled home has traded hands for $2.7 million, making it the highest sale Cape May has seen this year.
It's Cape May's third sale north of $2 million in 2020 and the highest in the city since last summer, when Lenord and Stacy Hunter parted with their Harbor home for $ 3.2 million. The desirable Poverty Beach enclave also saw Charles and Barbara Leone sell their Circa 1914 2,500 square feet home on New Jersey Ave for $2.2 million.
This one is just over 2,000 square feet bigger at nearly 4,600 square feet. Designed by the Zacker Group and constructed by Brandywine Builders, it boasts six bedrooms and six bathrooms across three stories with sweeping views of the Atlantic ocean.
Highlights include a screening room with full wall custom cabinetry, an oak and marble open kitchen, a screened in loggia with jacuzzi, and a thir ...
Thursday, July 2, 2020 / by Steven DiPeso
As we head into the traditionally boisterous, celebratory, care-free July 4th weekend we find ourselves in our own reality world of Keeping Up With the CDC. This Holiday Weekend, unlike so many past, we are not free to dine at our favorite vacation restaurants, crowd it in on our favorite amusement pier, or enjoy the spectacular fireworks show marking the official start of summer. And yet- despite all the restrictions, closures, unemployment, and Small business wage destruction; the NASDAQ, Gold, and Case-Shiller Home Price Index sit at all-time highs. Wall Street v. Main Street- also referred to as wealth creation by those on the former side. Indeed, what separates the two is simply & clearly the ownership of assets- more specifically the ownership of leveraged assets – the systematic risk. With risk comes reward, else why take on risk? What happens when tail end events arise able to implode the whole of levered assets?&n ...
Saturday, April 4, 2020 / by Steven DiPeso
As the Jersey Shore's leading, if not only, short term rental property management firm we have been fielding a great deal of client calls regarding the impact COVID-19 on their 2020 season cash flow. Below are five basic tips to navigate the current economic freeze for past clients managing their own short term rentals.
1. Don’t panic sell.2. Adjust your listing parameters to make your property more attractive to potential social distance guests.3. Turn off your beloved automations and humanize yourself with your guests.4. Rent long term to an arbitrager, or consider engaging Jersey Shore Homes to manage your property.5. Refinance to buy yourself some time and skip a mortgage payment, and maybe pull out a little bit of an emergency fund from the equity.
And there you have it! 5 quick tips for navigating short term rentals during COVID-19. If you need help calculating income and expenses during this time, call us. Jersey Shore Homes has always been uniquely po ...
Saturday, February 8, 2020 / by Steven DiPeso
Do you want to expand your investment portfolio, but are not quite sure where to begin? Think multi-family real estate. Here are five key reasons why you should look into this property type.
Strong FCF From Annual & Seasonal Rentals
It’s no secret that Jersey Shore real estate ranks among the most expensive in the State. And with property prices continually on the rise, it makes renting more feasible for other people who want to live or vacation in South Jersey to rent instead of buying a home.
In fact, even a significant chunk of South Jersey high-income residents prefer to rent. And with the demand rising for rental properties, there has also been a surge of new and upscale developments in Shore cities. We have experienced a surge of recent buyers engaging us to manage their nightly & weekly rentals both traditionally and with managed short term 3rd party platforms.
There are plenty of opportunities to invest in multi-family real estate ...
Thursday, February 6, 2020 / by Steven DiPeso
Most homebuyers start the process anxious, excited, nervous, and some are downright terrified. It’s natural. A home is the largest and most expensive purchase that most people will make in a lifetime. It can either turn out to be a complete financial disaster or a smart long-term investment.
The person standing between it being a huge financial mistake or a valuable asset is you, the agent. Still, the agent can only help as much as the buyer allows. As vital as having an experienced agent by their side is, there are things that first-time homebuyers have to do.
Here is a list of tips to help first-time homebuyers help you the agent do the best job that you can do. When you are approached by a first-time homebuyer, share this list with them to help them get off on the right foot.
Tell Your Agent Everything: You don’t want any surprises; neither does your agent. Let them know upfront about any financial issues on your credit report. Be as detailed as ...