Bay Head and Mantoloking Today – January 2018

All is well and busy here in Bay Head and Mantoloking, and we hope that you enjoyed the holidays!  Until the recent thaw, Twilight Lake and the bay have been frozen just about all the way across.  You can see an aerial video over the snow-covered bay ice taken at sunrise below.

In Mantoloking, the new borough hall is now fully enclosed, so work can continue inside, and dry.  Also, there is a new beach access point almost completed at Downer Avenue.  In Bay Head and other areas, many are quite sad in that Mueller’s is closed for vacation until February 13th! We are happy to share the news that our sales volume for 2017 was more than $45 million.  Thank you for your continued support! Below you can find more about how the government shutdown has impacted real estate, and a bit about the local market.

Government Shutdown

The recent government shutdown has had far ranging effects, including stalling out the National Flood Insurance Program.  An extension of the National Flood Insurance Program was included in the legislation that Congress failed to pass – as a result, during the shutdown, new flood polices will not be issued, nor will current policies be renewed.  Existing policies will can still be transferred between sellers and buyers, and lapsed policies will not be affected until 30 days after their expiration date. This does not affect private flood insurance (if you have questions about this, please ask.)  The IRS, Social Security Administration, and certain types of federally backed mortgages (not including most single family mortgages) may also be affected. (Source: National Association of Realtors)

Market

Currently, there are 19 homes on the market in Bay Head, and one home under contract (45 Strickland, expected to close tomorrow).  In the last 30 days, 3 homes in Bay Head have sold.  There are 3 active land listings in Bay Head, 2 under contract, and there have been no closings in the last 30 days.

In Mantoloking, there are 17 homes currently on the market, none under contract, and there have been no closings in the last 30 days.  There are 7 parcels of land on the market, 1 under contract, and none under contract.

Our listings can be found here – perhaps you or someone you know is interested in one of them.  Feel free to share this email.

As always, if you have specific questions about your property or neighborhood, topics not covered here, or anything else, please let us know.

Thank you, and be well!

Ed and Suzie

(Statistics are per the Monmouth/Ocean MLS as of 1/22/18)