Wildwood Real Estate Agent Rick Spackman Wildwood Realtor, Cape May Realtor

Let's prepare for the next downcycle

2008-10-19T14:35:00.002-04:00

Experience 3 poor real estate cycles in my career and like everyone
else we never prepare for the next bad one. Well, here we are probably
the worst one ever. However, its the one with the best opportunity.
Personally, in the market for rental properties that I can pick up
cheap.
With 4-5rental properties producing a conservative $200-250 per month I
know when the next bad market comes I can at least fee my family and
not worry about
making ends meat.I AM DOING IT THIS TIME FOR GOOD. I CAN'T LIVE IN FEAR
ANYMORE.If you don't purchase any rental properties I just hope people find some safe investment because we will recover from this, but it will happen again.

Research is Critical for Homebuyers Making Bids

2008-04-11T13:35:00.003-04:00

Deciding on the right amount to bid for a home can be one of the most difficult parts of the buying process. That is because, although home prices have fallen, some properties might still be overpriced. Many home buyers rely on their real estate agents to reasure them that they are not paying too much, but the homebuyer should take an active role in researching the market and recent closed sales. It can be instructive to compare the asking price of a home with those of other properties on the market or properties that have recently sold. I recommend looking at sales from the past 6 to 12 months, yet with the market downturn, the timeframe narrows this window to 2 to 4 months.

A better option for properties that are difficult to compare with other homes on the market might be to hire a state certified Residential Appraiser to estimate the property's value based upon factual data. If the appraisal supports a lower value, it can give you great ammunition to share with the seller and his/her agent.

SHOW AND SELL -- PART 2

2008-03-18T13:49:00.003-04:00

Realtors, builders, and developers have been shouting the message "now is the time to buy," and more people are starting to listen and understand. There are just pure bargains! I started tracking showings a few months ago and know in the month of March they are way up.

The ReMax of the Wildwoods office has had close to five hundred showings this month alone. I am starting to see contracts hit! There are many people who are jumping back into the market before interest rates get any higher.

I am trying to read the "tea leaves" and I am encouraged at what I am seeing so far this month and do believe with the Easter season early this year, the trend will continue.

My clients are picking their places right now and some say they will come back this summer to buy. I have written two contracts this week and showings are definately up. My listings are also being shown on a daily basis.

SHOW AND SELL--Real Estate Agents report increases in property showings

2008-03-10T14:06:00.003-04:00

In December, January and February, some of Cape May County's largest real estate companies saw their showings more than double from a year ago. Sales are expected to follow, and I say that the end of a two-year slump may be near.

Most of the lookers are interested in second homes and want to live here three to five months out of the year, mostly in the summer. My colleagues and I say lower prices, reduced interest rates and a larger inventory of homes are helping drive more showings and more sales. Of interest, are homes priced under $400,000.00 and over $1,000,000.00.

I think there are more choices and buyers understand that they need to act now if they want choices. Otherwise, they will get the leftovers. I had an Open House on Sunday and had four or five couples come through the property, it was not so long ago that I would host an Open House and have no one come to look.

Come to the Jersey Shore and let me give you a tour of your dream home........more to come on how many contracts are being written in Cape May County. Until next time..................Rick Spackman, ReMax of the Wildwoods

609 851 4072 cell
rick@rickspackman.com

Wildwood Real Estate - Summer Homes for Sale

2008-01-14T13:59:00.000-05:00

Now is the time to start looking into finding your summer home.

With the way prices of homes are coming down it's a great time to start looking for that perfect place for your summer.

I have many homes and condos that are at their lowest prices ever and many are new constructions. Get on these early before it's to late these sale prices are a rare find.

New Construction - Beautiful Bay Front Property
New Construction - Great Wildwood Location Townhouse

New Construction - Condo Very Nice Located Near Wildwood center city

New Construction - Wildwood Condo Best Deal in Wildwood don't miss out on this one!

New Wildwood Real Estate Listings Homes and Price Changes

2008-01-07T12:47:00.000-05:00

We have added some new photos from the new construction on
914 Wenonah Cape May

Also updates on some newly price changed and added homes.
341 E. Pine Wildwood
3707-09 Park Wildwood
161 E. Baker Wildwood
20 New Rd. Maurice River

Two New Homes Added One New Construction Other Great Location

2007-11-26T13:40:00.000-05:00

Brand New Construction located in Cedarville in Lawrence Township. House is expandable to more rooms then being built. Nice quite location. Modular Cape Cod.

Click for more information
9999 Regal Avenue Lawrence Township

Villas 3 Bedroom home just steps away from the bay in a great location. Price to sell, with possible roof deck with magnificent views of the Delaware Bay.

Click for more information
241 Walnut Avenue Villas, NJ

Wildwood New Construction Detached Condo only $299,900

2007-11-12T21:19:00.000-05:00

This is the cheapest you will find any detached condo in Wildwood or Cape May beach area.

This is a beautiful 4 bedroom 2.5 bathroom condo located only a couple blocks from the beach. It has it's own garage parking. It's like having your own separate home but with the benefits of a condo or townhouse.

On top of it all this is a NEW CONSTRUCTION

Please contact me ASAP on information about this property before it is gone.

To see more information click here

Nice Townbank Home Just Listed

2007-09-19T14:06:00.000-04:00

This house is in a great location and fully furnished ready to move in. Just a couple blocks away from the beautiful Ponderlodge Golf Course, Cape May Ferry, and steps to the Delaware Bay this is a must see for not only the house but the area all together.
There is also a breath taking sunset view over the bay from the second floor deck.
To scheduele an appointment to see this property contact me ASAP.

To view more information about this property click here

Two New Water Front Homes in Wildwood

2007-08-22T18:39:00.000-04:00

Two brand New Construction Properties listed in Wildwood both are in the similar other then the first floor is one property the second is another. Both must see with breath taking view and have boat slip with lift that can support up to a 30 foot boat. If you like the being on the less congested bay area of Wildwood this is the place for you.

Click link to view Properties
Upstairs Property
Downstairs Property

Another Price Reduction and This One is Big

2007-08-08T13:03:00.000-04:00

My listing of 161 E. Baker has just been reduced by $50,000. This is in a beautiful location in Wildwood and the property is a detached 4 bedroom 2.5 bathroom unit. This is priced the same as a one level condo. You won't find a deal like this in Wildwood. The best thing about this property is that it is also a Brand New.

Contact Me Right Away if you are interested this won't last to long.

Many Price Reductions to Already Low Priced Wildwood Homes

2007-08-06T11:41:00.000-04:00

Have nothing to do cause of the weather look at some of the new price reductions to my homes in Wildwood.

4308 Susquehanna and 3707-09 Park Ave.
Both these homes have been reduced, also the lot for sale is reduced.

These homes are located in Wildwood. I have been getting a lot of responses to them. So if you are interest in these properties please contact me as soon as possible. You can't go wrong with either of these homes, they are great investment homes in great locations.

Cape May County Must See Landmark - Atlantus

2007-07-16T16:48:00.000-04:00

In a nation that prides itself on its victories, remembering failures is not as easy to come by.

Sites like the concrete ship Atlantus, locaed just off Cape May Point, offer a different perspective on history. Suffering from a short supply of steel and iron during World War 1, U.S. officals sought to solve the drought by building ships with concrete moulds. Shortly after a fleet of 14 concrete ships was built by the U.S. governmentthe plan was deemed a failure and the ships were sent to their graves at the bottom of the Chesapeake Bay in Virginia.

The larger heap of concrete was later moved to its current location. The site has prompted many to raise their cameras to capture the broken hopes of indstrious Americans and the unlikely beauty of the hull peeking out of the choppy waters at sunset.

You can see Atlantus off Sunset Beach in Cape May.

New Jersey State Barbecue Championship and Anglesea Blues Festival

2007-07-13T14:49:00.000-04:00

Another weekend in Wildwood means another festival. This weekend it is the NJ Barbecue Championship and Anglesea Blues Festival.

The 9th annual fesitval in North Wildwood raises funs for the Anglesea Volunteer Fire Company. The winners of the Barbecue Championship will be going to compete in the national championship in Kansas City.

The crowds come out in full force for this popular summer event. Those who stop by the three-day festival will have the opportunity to hear from six different jazz bands, check out the barbecue skills of the competitors, browse the open-air market and learn the basics of barbecuing themselves.

The festival kicks off today at 5pm. More information could be found at http://www.angle-seablues.com

Avoid Mortgage Brokers To Finance Your Vacation Home

2007-07-01T14:07:00.000-04:00

I have had two transactions recently fall apart due because the Buyers did not use their own permanent resident Bank or a local Bank. You have a working relationship with your Bank; so negotiate the interest rate and or term. Second, the local Banker is familar with the marketplace and is not afraid of marketability issues that the Mortgage Broker who is selling the loan across the country does not understand. This alone is the single biggest problem in using a Mortgage Broker. The no doc loan becomes a full doc loan within days due to the Mortgage Broker's lack of knowledge within the market.

In my casse, the Buyer's agent had a pre-qualified Buyer to purchase one of my Seller's condominium units. The Buyers had a credit score of 780. Within a day before settlement the deal fell apart due to an unfavorable condo questionaire, that stated only one unit had closed as of the date of the appraisal. This issue was mentioned to the Buyer's agent who said it would not be a problem. Day before settlement it was a problem. Fannie Mae guidelines requires that at least 50% of the units be sold or at least be under contract. Another red flag for Fannie Mae is that no more than 40% of the units can be rentals. This problem could have been avoided if the Buyers had gone to their own bank or a local banker.

One the second transaction, the Mortgage Broker retained an appraiser from out of the area who didn't know the local market.It did not appraise. I supplied the appraiser with some units under contract which can be utilized as 4th and 5th comparables to support the sale price. Fortunately, for the appraiser and the Buyer's the deal will be saved.

By saving these two deals I would say I have earned my commission in a business were the public believes we make too much money.

North Wildwood Italian-American Festival

2007-06-30T21:24:00.000-04:00

The festival, now running for 13 straight years, is a celebration of Italian culture and food. The annual Italian-American Fesitval is something you can hear and smell from blocks away.

You don't have to be Italian to enjoy this festival. All you need is an appreciation of what Italians do best: good entertainment and great food.

The festival began Friday and will end on Sunday at 4 p.m. It takes place on Olde New Jersey Avenue in North Wildwood. So come to North Wildwood and enjoy the beach and food this weekend.

Enjoy the Summer Weather Watch a Big Screen Movie on the Beach

2007-06-27T16:38:00.000-04:00

Since the summer of 2005 many family have been going down to the Wildwood beach at night. Their not going to just walk in the cooled off sand or ocean either. These people are going to watch a full cinema style outdoor movie. Based on the older drive up outdoor movie theater, the Sunset Cinema company has been displaying movies every night on their huge blow up movie screen.

This movie watching experience is great for the family or if it just a couple of friends, I highly recommend putting this on your list of things to do when visiting Wildwood. It is one of the rare places that you can actually experience this, Sunset Cinema also has a beach theater in Miami. Pricing of tickets are also less then most of the indoor theaters.

EPA tries new, speedier tests of beach water at Cape May Court House

2007-06-25T13:03:00.000-04:00

This summer, the federal Environmental Protection Agency will experiment with a new, faster method of testing water quality at some bathing beaches in the state.

An EPA official said Monday that test results for the bacteria enterococcus take 24 hours, but the time could be cut to three hours with a different test officials will try in a few spots in Monmouth and Ocean counties this summer.

A quicker testing system could allow health officials to close beaches faster in case bacteria exceed acceptable levels.

The water recently has been beautiful in South Jersey so far this summer very clear and clean everyday. It would be nice to keep it this way so please keep the beaches clean and don't leave any trash on the beach. Even though the water here might not be as blue and crystal clear as the water in Hawaii and Tahiti it does contain a lot less harmful bacteria compared to the more exotic tropical places.

Be Cautious, but no afraid when purchasing an "as is home"

2007-06-24T09:46:00.000-04:00

Most home buyers who sign the contract presented by their representing Realtor have no clue it really means the Seller won't pay to repair the most obvious defects. However, I must warn the Sellers's it's not an excuse for the Seller to avoid disclosing the obvious defects as well as other defects not visible by the naked eye.

"When Sellers should sell "AS IS " without agreeing to make repairs is when they can't afford to pay for any repairs, estate situations when the heirs are from out of the area or when the Seller is not physically capable of making the repairs (elderly people).

Home buyers should understand that although its an "AS IS" sale, a professional inspection should and can still be performed. Inform the Seller that you need this inspection completed to identify the defects of the house so you have an understanding of what needs to be done to bring this property up to code. I also suggest language in the contract regarding any structural damage found that you have the option to cancel the contract.