From the Press of Atlantic City:
Demand for South Jersey summer rentals increases
Atlantic and Cape May counties generally finish first and second, respectively, in terms of tourism dollars spent, hotels and homes rented, and other spending indicators measured each year.
And based on early reports from South Jersey Realtors, business indicators point to another strong year for the state’s shore economy.
“The average lease percentage is higher, and I think the length of stay is longer this year. We are writing a lot more two-week leases,” said Diane Bauer, a sales and rental agent for Jersey Cape Realty in Cape May. “I think people are actually feeling positive about the economy.”
A weeklong rental in Cape May can range from $700 to $14,000, depending on the number of bedrooms, the house’s location, the amenities and the time of year, Bauer said. The most popular weeks to rent summer homes are the last two weeks of July and the first two weeks of August.
The demand for summer rentals in Avalon and Stone Harbor has increased year after year, and this year is no exception, said Holly Rennie, a sales associate for Ferguson Dechert Real Estate who has been involved in the summer rental business for 26 years.
More commitments are being made to book summer vacation homes earlier in the year, Rennie said.
“People are recognizing that the ability to find the property that they want has become more and more challenging because our available rental properties are decreasing,” said Rennie, who has about 800 properties for rent in Avalon and Stone Harbor.
Summer rental bookings in Ocean City are up over the same time last year with relatively steady prices as the family-friendly resort continues to be a popular destination for people who live in Philadelphia, said Frank Shoemaker, general manager at Berger Realty in Ocean City.
“The prime weeks are going to fill up. … I’m not saying they are going to fill up tomorrow, or next week, but as we get closer to summer, they will be really, really sparse,” Shoemaker said. “If you want to come in an off week, we will have plenty of properties.”
On account of it snowing like crazy up here.
I’ve mostly gone to cape may for funerals
I thought ocean city was normally fully booked by now, at least for decent places.
My first time to Cape May was memorable. Myself and 3 friends arrived there by bicycle, all of us age 15-16. We started our trip from Rockaway about 4 days earlier. We had to do a massive marketing campaign with our parents to let the trip happen. In the end we were able to get our parents to call up friends and relatives to let us stay at their places along the way.
Where we stayed in Cape May there was an interesting family dynamic going on. We were staying at a place that was owned by a really, really young couple. I want to say that the married couple who owned the home were maybe 24 or 25? The interesting part was that the younger brother of the husband was also staying there, he was no older than 20. He was attending Cornell and at the beginning of our stay the younger brother was dropping out and at the end of our stay, and many loud conversations with his older brother, he was going back to school.
We were able to convince the younger brother (the guy going back to Cornell) to buy use some beer. Two six-packs divided between the four of us teenagers. One of my friends drank a single beer. Another drank 2 and fell asleep. Myself and another drank 4 and I became violently ill. The younger brother, who was finally off to Cornell to continue his studies, drove me back to Vineland (our previous and now repeated leg of the journey) as I was so hung over (for the first time in my life) that I couldn’t ride the next day.
https://www.newsday.com/business/foreclosure-wells-fargo-deadline-1.17757711
I think this article might be behind a paywall, but could describe a record. Stopped paying mortgage in 2006. Bank missed filing deadlines. Judge ruled homeowner owns house free and clear.
Does not surprise me you pig headed dolt…….
Fabius Maximus says:
March 31, 2018 at 8:54 pm
He turned to me and said “Always understand who you are talking to and what their point of view is!”.
It took me a few years to really work out what he meant.
New Whole Foods record…… $443.62….. at least there was a bottle of Laphroaig in there and I used Amazon Prime CC
2017 was one of the most financially rewarding years I’ve had since the Reagan years. It’s also the most optimistic this country has been since the Reagan years as well. The previous eight years with big ears was so pessimistic and divisive. So stale and gloomy. The contrast is stunning in that it really showed Oblama’s weaknesses and ineffectiveness. He had an opportunity and totally blew it.
Anyway, it feels like the strength and optimism is back; further evidenced by the vitriol spewed by the left. They have no agenda, never did really. The media is throwing everything including the kitchen sink at this administration but it won’t work. Success feels too good. My God, how weak and petulant must one be to want to support the freak show that is now the democratic party?
2017 was one of the most financially rewarding years I’ve had since the Reagan years.
Proportionally speaking, not linear. I should have clarified.
Captain Cheapo now shops at 4 different markets. Fairway for meat. ShopRite for dry goods. Route 46 Farmer’s Market for Produce and Costco for what is ever on sale mainly. Between Ibotta, Saving Star, Checkout 51, Hopster and those websites that point out the crazy coupon and saleprice matches at Shoprite and the 5% back on the credit card. It’s gotten to the point where we seriously pay about 1/3rd for our groceries. Our bill for 4 of us is probably down to $250 a month. The biggest savings come from the farmers market.
Libturd,
Any asian groceries near you? They usually have good prices for a wide assortment of green veggies
BTW. This upcoming weekend is showing signs of a much larger storm (Noreaster). I told you all we were in an unusual weather pattern that should not allow Spring to take hold until after the middle of the month.
Let the scientific clueless wonders here begin blaming climate change now.
The farmer’s market is Asian owned. Same supplier to the Kam Man’s and other large grocers, only to a larger audience. Quality is better than ShopRite, but far from Whole Paycheck. Then again, for $4 a pound, I’ll buy a nice strip steak, not a red pepper.
Does anyone have any thoughts around vacation home prices at the NJ shore? Now that the taxes cannot be deducted beyond 10K – will there be some downward pressure?
Yeah the Rt 46 market is pretty darn good, cheaper than Corrados.
Corrado’s quality can be terrible at times, but their cold cuts and cheeses can’t be beat. Also, where else will you find rabbit sausage and the like.
Maybe I can fit in a fertilizer application in between snow storms.
Does anyone have any thoughts around vacation home prices at the NJ shore? Now that the taxes cannot be deducted beyond 10K – will there be some downward pressure
Doubtful.
I’m hearing of lots of NNJ retirees with shore properties selling their non-shore primary residences and downsizing to their shore properties year round.
Man I miss kam man. The asian groceries in my area aren’t as good.
Kam man is pretty cool. My kids love looking at the live seafood. It’s pretty much a china town market on steroids.
We go to hmart or 99 ranch in Carrollton once in awhile. Each store anchors a huge plaza where all the stores are asian. Hmart plaza almost all the stores are Korean. The plazas are diagonally across the street from each other
I was at two different Walmart’s this weekend. First one as we are leaving a guy claiming to be a minister came up to us in the parking lot. He was pushing a Walmart shopping cart with a bunch of homemade pound cakes in it he is trying to distribute while spreading the gospel. We surprisingly declined.
Next day we went fishing at lake weatherford. We decided to check out the clearance section at the nearby Walmart for fishing stuff. As I was putting away the gps, an old sedan that I think was an Oldsmobile Ciera was driving across the parking rows hits a pickup truck parked near the end of the lane. It was more of a glancing shot but still bashed in the the front passenger door and fender. There were pieces of molding and lights all over. I guess the pickup truck driver parked so far away to avoid door dings. The guy driving the sedan must have been around 90 and was thin as a rail. Wonder if he got the car when he retired, the car must have been from around 1990 and looked well kept except for the bashing he had just given it.
“I told her [the realtor] that I didn’t want her to sell it to a Trump supporter,” said the woman.
http://sacramento.cbslocal.com/2018/03/28/no-trump-buyers/
Walmart is truly loaded with crazies.
My wife wants to retire to a beach house. I’m not too keen on that. Don’t think we could afford it and you never know when another sandy will come through. I would prefer a nice lake front house. Cheaper and less likely to have your home taken out by a storm surge.
Libturd
My kids like going to Walmart just to people watch. We have found such great deals on fishing stuff at Walmart clearance section we cancelled our two tackle box subscription plans and will just hit Walmart clearance from now on.
I used that car accident as a teaching moment for the kids on why they have to always stay alert in a parking lot and dont play on a phone.
Nice.
Another strong day in the market.
Pretty soon, we’ll have to dust off the Dow 20K hat again. :P
Pretty soon, we’ll have to dust off the Dow 20K hat again.
It’s linear movement, it means nothing. Dividend reinvestment is the only thing that matters. You want to compound your investments.
I liked it better when the line had a positive slope.
Anyone familiar with Sanibel island? We did Captiva a few years ago but want something a little less quiet. Having trouble making Key West work and it ain’t cheap. We are going to Europe in the summer as well. Just need a little break between now and the late summer.
I’ve heard nothing but great things. Unfortunately, that might spell the end of it.
I just remember Sanibel as being the long boring part I drove through to get to Captiva. I assume it’s cheaper. Not sure what there is to do besides walk the beach.
Elon Musk is a laugh a minute. Perhaps he’s increasingly convinced that the world is just an artificial virtual reality simulation being projected into his brain somehow, so now he thinks he can just f with us fake bots.
Captiva is beautiful but not much in line of restaurants. Looking for a place with a little night life, shopping for my wife etc.
Most read story on Bloomberg right now…
Wire: Bloomberg News (BN) Date: Apr 2 2018 14:05:36
Death of Toys `R’ Us Spells Trouble for One New Jersey Community
By Amanda Albright
(Bloomberg) — The death of Toys “R” Us won’t just leave vacancies in shopping centers across the U.S. The New Jersey town serving as its headquarters may also see a major source of tax revenue disappear.
The toy-maker’s 585,000-square-foot Global Resource Center, which employs accountants, IT, merchandising and human resources workers, has made it the third-largest taxpayer in Wayne, a town of about 55,000 residents some 20 miles (32 kilometers) northwest of Manhattan. The company owns property with an assessed valuation of $38.5 million in the township, offering documents from a June debt sale show.
Toys “R” Us Inc. disclosed that it plans to lay off 1,159 employees in Wayne in May, according to the New Jersey Department of Labor and Workforce Development. That’s threatening to impact the finances of the Aaa rated town, Moody’s Investors Service analyst Susanne Siebel said in a report late last month. She said it’s unclear if the headquarters will be left vacant — which could reduce its assessed value — or resold.
Amy von Walter, a spokeswoman for Toys “R” Us, did not respond to a request for comment, nor did Wayne Mayor Christopher Vergano.
Wayne has other exposures to the retail industry, which faces immense pressure as customers shop increasingly online instead of at brick and mortar stores. Willowbrook Mall, which includes retailers like Claire’s, Aeropostale and Loft, was the largest taxpayer in the township, according to documents filed by the township.
To contact the reporter on this story:
Amanda Albright in New York City at aalbright4@bloomberg.net
To contact the editors responsible for this story:
James Crombie at jcrombie8@bloomberg.net
William Selway, Michael B. Marois
Upside – less traffic?
Will Amazon see that office space and insert Wayne at the top of their list?
Sanibel:
I went to tripadvisor and you know a place is quiet when the top spot in the “Top ten things to do in Sanibel” list is occupied by the Sanibel Public Library. Followed by the farmer’s market. Then check out the shell museum!
I haven’t been around that area for 20 years so my opinion isn’t worth much on this topic. But beaches, gathering seashells, and water-side food appear to be the big attractions.
I would stay at Cheeca Lodge in the keys before I went to Sanibel to be bored out of my mind. In fact, I did, and would do it again. You can day trip to Key West if you like.
When I mentioned I was going to Florida over a decade ago, people told me I need to visit Sanibel. I was there for a whole day, looked at the gulf which was as calm as a lake and wondered if I was missing something. I was bored to tears. The family collected some shells and I stared at my watch. The most exciting thing I saw was a bird swoop down to collect a fish at the surface of the water. A high rise in Miami is the only thing that will make me go back to Florida. I’d rather go to La pequeña Habana.
The drive from either Miami, Fort Lauderdale, or West Palm (kinda far) is nice, and the fact that you can price 3 different airports gives you the ability to price shop.
Ok guys thanks. Back to looking at key west again!
Cheeca is halfway down the keys, Islamorada I think. It’s one of the most luxury properties in the Keys. Most of the keys resorts are a dump compared to it.
I drove from Weston through the everglades to get to Sanibel; there were brush fires everywhere. The swamp safari thing was interesting but gimme Miami.
Ouch..
https://patch.com/new-jersey/wayne/wayne-homeowners-taxes-could-increase-thanks-toys-r-us
Shouldn’t the owner of the property have to continue to pay taxes?
Blue I believe for commercial properties if they are empty do not have to pay the full amount due as the property is not being utilized. In this case the company is bankrupt so I don’t know how it plays out. If property is sold I assume creditors are paid off. I don’t where the town would fall as far as who gets paid first.
Post Fiddy.. The market down four fiddy.
Commercial taxes don’t work like houses.
Shore properties are through the roof in Monmouth County. Property taxes mean nothing. Oceanfront 100×150 lot with no house just traded in Deal for $11,800,000. Further north oceanfront lot with house traded for $26,000,000. They are building another house and taking down the original house when they are done.
It was only a matter of time…
Teacher Strikes Are Spreading Across America With No End in Sight – Bloomberg
https://apple.news/AcgsV0S10SdCT6N2kSYPJDA
Bingo! Someone gets it.
“Shore properties are through the roof in Monmouth County. Property taxes mean nothing.”
The amount of money being made by some people can and will cause them to not really care about 50,000 property taxes one bit. Not everyone cries about what some call a high property tax bill.
NJ coast there’s only so many of those who can do that. Eventually that supply will dry up.
I was just at Walmart this afternoon, in Kissimmee Florida. Strange mixture of the Florida locals and a ton of British tourists, and allot of people from Indiana and Pennsylvania. There was even a gaggle of Hasidic from New York. Super busy picked over Walmart with parking lot
Chaos in the parking lot..
FYI the SpaceX launch from Canaveral today was awesome kids loved it, The Visitor Center at Nasa Kennedy was overcrowded and they closed entry in the early afternoon so the entrance/exit road became New York City gridlock and then a viewing area as people just got out of cars to watch the launch.
I stopped in Walmart today also. Easter candy is now half price.
Bonus I saw a guy in plaid pjs pushing a shopping cart while he talked on his Bluetooth, or talking to himself. Hard to tell sometimes
Juice – I’m jealous
Don’t be, I am glad there is renewed interest in the place it was packed with lots of young minds and we need more engineers.
Hoping we can coordinate our next trip with a launch
Anyone hear about this before?
https://www.thepetitionsite.com/takeaction/161/103/117/
U.S. stocks had their worst April start since 1929, according to data compiled by Bloomberg. The S&P 500 index slumped 2.2 percent, a rout exceeded only by its 2.5 percent decline 89 years ago, a prelude to the devastating crash later that year that brought on the Great Depression. (Back then, the index only comprised 90 stocks.)
People of Walmart.
https://www.reddit.com/r/peopleofwalmart
Anyone hear about this before?
https://www.thepetitionsite.com/takeaction/161/103/117/
This would cost 15 billion in New Jersey. $500 million elsewhere.