Anthony Barone: Real Estate Broker

By Brian Faler and Ryan J. Donmoyer

Oct. 29 (Bloomberg) -- The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation's housing market.

The tax break, enacted earlier this year as part of the $787 billion economic stimulus package, has "brought new families into the housing market and contributed to three consecutive months of rising home prices," Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes.

Senate Democrats have announced plans to extend the credit until April 30, while expanding it to include higher-income Americans and some who already own homes.

Senate Finance Committee Chairman Max Baucus said today the new plan would offer a $6,500 credit for homebuyers who have lived in their prior residence for at least five years. Couples earning up to $225,000 and individuals up to $125,000 would qualify for the break, Baucus said. That's up from the current $75,000 limit for individuals and $150,000 for couples.

"The success of the American economy is closely tied to the success of the housing market; by helping to stabilize the housing market, the homebuyer tax credit has helped to shore up the economy as it begins to recover," said Baucus, a Montana Democrat. "This would enable an even greater number of potential homebuyers to take the credit."

Millions of renters earn more than $75,000, he said.

Unemployment Bill

Democrats have been pushing to include the provisions in an unemployment-benefits bill, which has been held up by a disagreement with Republicans over other proposed amendments. Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, said he expects the chamber to vote on the tax-credit plan within a week.

The administration's statement didn't specifically endorse expanding the break beyond first-time homebuyers. Dodd expressed confidence President Barack Obama would sign such legislation.

Lawmakers said they want to prevent home sales from slipping as the economy struggles to recover from the worst drop in home prices since the Great Depression. More than 1.2 million borrowers have claimed $8.5 billion of the $13.6 billion set aside for the homebuyer tax credits this year, according to the Treasury Department.

The Democrats' proposal would extend the credit to home purchases under contract by April 30 so long as they close the sale within 60 days. The measure would require those receiving the tax break to remain in their new homes for three years; otherwise, they would have to repay the credit.

$800,000 Cap

Those buying homes worth more than $800,000 wouldn't be eligible for the credit, said Baucus. Lawmakers also said they won't extend the break beyond the new April 30 deadline.

"The American people should understand this -- and the affected industries -- this is the last extension," said Senator Johnny Isakson, a Georgia Republican. "Tax credits like this only work by creating the sense of urgency to take advantage of them."

Isakson estimated the new plan would cost $10.2 billion. Dodd said the plan wouldn't add to the government's budget deficit because lawmakers plan to finance it by delaying a tax break for multinational companies scheduled to take effect next year.

Pelosi Position

House Speaker Nancy Pelosi, a California Democrat, is waiting to see the final Senate agreement on extending the tax credit before deciding whether to support it, said spokesman Nadeam Elshami.

While the tax credit speeds demand for homes from next year to this year, it won't necessarily increase overall sales, said Scott Buchta, head of investment strategy at Guggenheim Securities LLC in Chicago.

"They do need to expand the credit to get more people involved, but at the end of the day you are paying people tax dollars to do what they probably would have done anyway," Buchta said. "If it is passed, home sales of lower-priced homes should continue to hold their ground. However, if it is not passed we will probably see home sales slow down as we wait for natural demand to build up again."

Senate Majority Leader Harry Reid, a Nevada Democrat, said yesterday that there is significant support among both parties for the homebuyers' tax credit. He said the other amendments to the unemployment bill sought by Republicans are designed to embarrass his Democratic colleagues by forcing votes on extraneous issues. Republicans want to vote on amendments on immigration and to bar funding for the community activist group Acorn.

Senate Minority Leader Mitch McConnell, a Kentucky Republican, agreed that most lawmakers support the unemployment and homebuyer measures. "We're not that far away from an agreement," he said yesterday.

To contact the reporters on this story: Dawn Kopecki in Washington at dkopecki@bloomberg.com; Brian Faler in Washington at bfaler@bloomberg.net

COMPLIMENTS OF ANTHONY BARONE-BROKER SALESPERSON with Re/Max at Barnegat Bay for a Virtual tour go to http://www.visualtour.com/show.asp?T=2014446

Click Photo for Additional Media and Enlargement

Status: Active (10/3/2009) Cat:SF MLS#: 20937754md Type: Detached ListPrice: $349,500 County: Ocean ApxYrBlt: 1964 Muni: TOMS RIVER TWP ApxSqFt: 1,600 SqFt Postal 42 PATMAS DR Rooms: 10 Address: TOMS RIVER, NJ 08755 Bedrooms: 3 Area/Sec: WEST DOVER Baths: 1/1 Cmplx/Sub: SILVER RDGE EST Levels: 1 ParcelID: 00507-0036-00012- Bsmt: Y LotSz/Acr: /0.285 FP/#: Y/ ElemSch: WEST DOVER Garage: Y/2 Car MiddleSch: TR INTR SOUTH WF: N HighSch: T.R.HIGH SOUTH WV: N OthElem: ST. JOSEPHS WtrTyp: OthHigh: MNSGR DON Handicap: N: Style: Ranch Model: EXTRAORDINARY LsePurch: Zoning: Neighbor, Resident LnkdML#: Directions: Rt. 37 to Lakehurst Rd, 1st left is Patmas Drive. Home on the right

For More Information Contact: ANTHONY BARONE Direct: 732-914-0074 EXT. 302 Cell: 732-674-1590 1anthonybarone@gmail.com www.abarone.remax-nj.com

--Information deemed reliable but not guaranteed--Copyright: 2009 by the Monmouth County Association of REALTORS® FOR FURTHER INFORMATION ON THIS LISTING PLEASE CONTACT ANTHONY "TONY" BARONE @ 732-674-1590 Provided by ANTHONY BARONE of RE/MAX AT BARNEGAT BAY on 10/3/2009 1:45:48 PM (732) 914-0074

#20937754 - 42 PATMAS DR, TOMS RIVER, NJ
	Jr. Daas built Silver Ridge ranch completley updated with the best of the best. From the electric panel and a 35yr timberline roof,huge addition and professional landscaping supported by an irrigation well; to the updated baths and a dream kitchen!!! "Honey we are home" is what you might be saying everytime you get to your perfect castle. There is really absolutley nothing to do but move in your furniture. Something to enjoy upstairs downstairs or outside.Regardless of the weather or your company!! 2 year old heated in ground pool with bullnose brick finishes,concrete traffic area for the whole family, a maintenance free,eco friendly composite deck just recently installed too. Invite your family and friends for a house warming party!!!! No matter what you like,maybe its a well manicured lawn or a miniral operated pool with low maintainance and heated water. Mabe its having a cold drink on the deck or sun bathing in a private botanicle garden you will find it all right here. Stop BUY :) Whether you are entertaining by the pool,hanging out on the maintainance free composite deck or just enjoying the warm sun on the patio, you will always feel like your dreaming. This set up is not to be taken lightly. Dreams come true everyday ;) Plenty of privacy surrounds this huge backyard. All the hard work has already been done. I think Mr. Clean may take care of the yard when he is not keeping this house Immaculate!!!! Sun splashed breakfast table with views of the dining room and kitchen. A small hiden secret is the stealthy pocket door that slides shut for a more formal tone ibetween the elegant setting served in the dining room and the luxury kitchen activities Family room, 4 season room, the place you hang out when your BBQ experiances a rain delay!Call it what you will but this adition is packed full of pella windows,12" tile and room for 20 and a mini bar. Did I mention the views of your backyard paradise? Spacious living room boasting decorative molding, beautiful gleaming hardwood floors and a wood burning fireplace. Fresh paint through out and beautiful floor moldings,window treatments the list goes on and on............. Split View in 2 sections of this gourmet kitchen featuring glaeming granite ,an appl package for all you chefs out there - multi fuel Viking 6 burner with convection oven, stainless hood w/ heat lamps,luxury dishwasher,fridge and microwave all included!! Another split shot of the shiny goumet kitchen that may be yours if you act fast!!! Its not shiny but its also supoer efficiante and decked out with the most popular names in home and commercial kitchensStill time for an $8000 tax credit & low finance %

William Troy

Realtor Associate SRES, e-pro, CDPE, Luxury Homes Specialist, Veltri & Associates Realtors (colleague)
worked directly with you

"Anthony, is an intelligent, hardworking Realtor that has excellent negotiating and marketing skills. As one of the top Realtors in the area, Anthony has far exceeded the industry average and will continue to do so for the remainder of his career." October 17, 2009

Nancy Clayton

salesperson, Veltri realtors (colleague)
reported to you

"Anthony is a great person to work with, very professional, hard working and honest." September 28, 2009

Dominick-glend Guido has endorsed your work.

Dear Anthony,
I've written this recommendation of your work to share with other people.

Details of the Recommendation: "Anthony Barone has been a real pleasure to work with. In this current market place his attention to detail not only makes for a smooth real-estate transaction but helps the deal get done and done timely. I would reccomend Anthony to anyone who is interested in buying or selling real-estate!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

Anthony Barone Real Estate Broker

Anthony is honest and hard-working. He works very hard for you as if you were his most important client. He is not pushy nor does he pressure you to buy something you don't really want. He finds all the information you need and provides you with everything you need for your decision. September 27, 2009

Top qualities: Great Results, Personable, High Integrity

Joanne Piaggio hired Anthony in 2007.

James Snyder

, Sr. Loan Consultant, Bank of America Business Capital (business partner)
was with another company when working with me

"I have worked with Anthony on several Real Estate transactions and found that his diligence and follow through is unmatched. Anthony is a detail-oriented manager that is focused on customer satisfaction. I would recommend Anthony to anyone interested in buying or selling Real Estate." October 8, 2009

Dear Anthony,
I've written this recommendation of your work to share with other LinkedIn users.

Details of the Recommendation: "At a previous agency I directly reported to Tony as my manager. Always a professional, Tony was always sought after for his Real Estate knowledge and guidance. He has always been admired because of his sincere concern for his agents and clients."

-recommended by Raymond DiStase of Weichert Realtors