New Jersey Estates Real Estate Update From Realty Times April 2008

Since passed by overwhelming Capitol Hill majorities in January, there has been much talk regarding the economic stimulus package. Yes, it will cost $168 billion, but what does it actually do for individuals?
      The stimulus package is designed to help the country moderate the worst effects of a slowing economy and perhaps even avoid a recession. The idea is to encourage spending and with more spending to increase economic activity. While the theory looks good on paper, it will likely take months or years to know if it actually works.

	New Jersey Estates/ Weichert Realtors Paul S & Pat C April 2008 LINKING THE LATEST TECHNOLOGY                                   TO OLD FASHIONED SERVICE                                                                                Copyright © 2008 Realty Times All Rights Reserved. What The Economic Stimulus Package Means To You   Since passed by overwhelming Capitol Hill majorities in January, there has been much talk regarding the economic stimulus package. Yes, it will cost $168 billion, but what does it actually do for individuals?       The stimulus package is designed to help the country moderate the worst effects of a slowing economy and perhaps even avoid a recession. The idea is to encourage spending and with more spending to increase economic activity. While the theory looks good on paper, it will likely take months or years to know if it actually works.      From a personal perspective the Mortgage Rates U.S. averages as of March 27, 2008: 30 yr. fixed:   5.85% 15 yr. fixed:   5.34% 1 yr. adj:        5.24% 30 yr. jumbo:  6.98% View current rates January stimulus package has five major components that will immediately impact individuals with an interest in real estate.       1. Checks from Uncle Sam: According to the White House, taxpayers can receive rebates of up to $600 CONTINUED >>> LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE For Old Fashioned Service , Click Here Is Your Credit Score As High As You Think?      It is common to assume that paying bills on time automatically means having a high credit score. Unfortunately, that's not always the case. There are many misperceptions about how scores are calculated -- and yours could be lower than you might expect.       Credit scores are used by financial institutions to determine whether they should lend money to a potential borrower and, if so, what interest rate should be charged. A higher score means an applicant is statistically less likely to default on the loan so they get a lower interest rate.       Ignoring your credit score could be a costly mistake. As an example, let's say you bought a $400,000 house with a 30-year fixed-rate mortgage at a 6-percent interest rate. Over the term of the loan, you would pay interest charges of $463,354. If, however, you had a lower score and your bank bumped your interest rate up to 8 percent, you would pay interest charges of $656,619. That's a hefty difference of $193,265. CONTINUED >>> Appealing Your Property Tax Bill      If your property tax is aligned with or assessed based on the value of your home, a swing in property values could warrant close scrutiny of your property tax bill.       Some more progressive tax jurisdictions will make the adjustment for you -- up or down -- but most only move your rate up or they'll wait for the property to change hands before adjusting the tax. Even where adjustments are automatic, you still may not be satisfied and will need to appeal the deal.       Over valued or over assessed property is perhaps the most common and successful grounds for challenging your tax bill.       When the economy is faltering and spawning foreclosures, short sales and homeowners otherwise bailing out of homeownership, consider it a red flag -- it's time to scrutinize your property tax bill.       Many homeowners bailout, accept the foreclosure or take the short sale way out because their mortgage is more than the value of the home, which may have fallen for a variety of reasons.       The incidence of incorrectly calculated property tax bills may also warrant a close inspection of your property tax bill or an appeal.       Many errors in calculating your property tax bill also stem from clerical CONTINUED >>> New Jersey Estates/ Weichert Realtors Real Estate News SEARCH ENGINE STATS 04/01/2008 Click On The Links Below To See Our Ranking In Google: New Homes New Jersey Real Estate New Jersey Realtors New Jersey Complete Real Estate Info Click On Links Below       NewJerseyEstates.net. NewJerseyEstates.info. Our Pre-Owned Homes. Our Luxury New Homes. Our Current Listing. Selling A Home. Our Testimonial Letters. To Contact Us.       New Jersey Estates Local Current Market Conditions Daily News and Advice Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday. More Articles March Round Up: Rates Remain Low Location Can Dictate Maintenance Chores Indoor Air Quality Management At Home Buying Bonds and the Mortgage Market Paul S & Pat C , Luxury Custom New & Pre-Owned Homes E-mail: njestates@earthlink.net Web: http://www.newjerseyestates.net/ 908-561-5492 (Paul S) 908-310-1358 (Cell) 908-561-6499 (Pat C) 908-578-0890 (Cell) Weichert Realtors New Jersey Estates 908-561-5400 55 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity