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Anthony Barone: Real Estate Broker

Homebuyer Tax Credit Measure Backed by Administration

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

Thinking about Buying a home for the first time? Here are a few pointers

Dear First Time Buyer,


If you are currently in the market for your first home, you probably have lots of questions. You are about to be making an important decision for your future, a great investment of both money and time. I have a wealth of experience helping first time buyers like you make sound, informed decisions. Here are some tips that can help make your home buying process successful:



  • Tip #1: Do Your Homework
    The perfect home won't find you by itself. The key step in buying a home is doing the proper research. Educate yourself on local schools, neighborhoods, and the kinds of homes available. By reading available materials and talking with experts, you can start to put together your idea of the perfect home.
  • Tip #2: Start Planning
    Most decisions benefit greatly from proper planning, and home buying is certainly no exception. Start a filing system with sections such as home buying, home financing, and service providers. By forming a home buying plan you can more easily focus on the most important factors and help give structure to the entire process. My website is a great resource for property information.
  • Tip #3: Get PreQualified
    Getting prequalified for a loan normally only requires a short phone conversation with a lender, and can greatly help your home search. Prequalification does not guarantee you a loan, but it does provide you with an estimated monthly payment and a price range to use as a guide when shopping for homes. Being prequalified can also often indicate to sellers that you are a serious, prepared buyer.
  • Tip #4: Look for Value
    When shopping for homes, it's important to consider potential value. Even if you're not planning to sell the home some time down the line, it's a good idea to consider the future value of the home. Protect yourself against things like falling prices and gradual shifts in the nature of the neighborhood. You may not think of a new home as a means to make money, but it's an important investment that requires caution.
  • Tip #5: Decide What You're Looking For
    Settle on the home features that are important to you (covered parking, hardwood floors, architectural style, etc.) and make an ordered list. Having well established guidelines will help narrow down your search and will prevent you from being shown properties that lack your key amenities. It can help you make the decision not to buy an attractive property that doesn't really fit your needs. My website has a search feature that allows you to filter thousands of listings based on attributes that you select. If you know you want a brick house with gas heat and a garage, you can get the results you're looking for.
  • Tip #6: Relax
    You don't have to make an offer on the first home you see. Make sure to look at other listings in the area to get a feel for the marketplace. When you decide to make an offer on a house, consult with your real estate professional so that all of your questions are answered.
  • Tip #7: Shop Around for Your Mortgage
    Deciding on the financing for your home can be as important as choosing a home itself. The first step is deciding what kind of loan best fits you: a fixed rate mortgage, or an Adjustable Rate Mortgage (ARM). There are benefits to each form of loan, and your real estate professional can provide you with more information. Next you'll want to begin to shop around for different lenders.
  • Tip #8: Protect Yourself
    Be careful when signing a contract on a home that allows you to find financing, have the home inspected, and work through any problem areas that may arise. Paying for a quality home inspection is absolutely crucial! You can save yourself thousands in repair costs by being sure of what you're getting into.

More information for first time buyers can be found on my website www.abarone@remax-nj.net , or by giving me a call. I'm confident that I can provide the kind of exceptional service that will make this process an exciting one. Don't hesitate to contact me with any questions you may have, I would love to be of assistance to you.

Warmest regards,

Anthony "Tony" Barone

Broker Associate

Re/Max at Barnegat Bay

1130 Hooper Ave

Toms River, NJ 08753

Office: 732-914-0074

Mobile: 732-674-1590

Fax: 732-914-0074

E-Mail me anytime 1tonybarone@gmail.com

Check out my web site www.abarone.remax-nj.com

Follow me on twitter http://twitter.com/1tonybarone

For my resume just go to http://www.linkedin.com/in/tonybaronegrouphome

Public open house this Sunday the 25th from 1-4 in Toms River NJ 08755

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
Click on Photo to Enlarge
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

Extraordinary 3 bed 1.5 bath ranch:open floor plan complete w/2 car Gar, fireplace, LR, DR, FR, Gourmet Kitchen w/top of the line appliance package, granite countertops & 42"cabinets, Hardwood and porcelain flooring,Heated IG pool & composite deck featured in the "club med" backyard,newer high efficiency hot water heater and furnace,full basement with a media room + lots of storage.IG sprinkler system on well water.Immaculate home nestled on over 1/4 acre of professionally landscaped paradise!


TaxYr: 2009 LandAsmt: 142,600 NewCnstr: DeedRestr:
Taxes: $3,736 ImprAsmt: 149,600 Farm: FarmAssd:
SpecAsmt: TotAsmt: 292,200 AsmtStat: Assessed


Assoc: N MgmtType: AssocMgmt: MgmtPhone: AppEscrowReq:
AssocFee: $0/ FeeIncl: CommonEle:


Room Type Lvl Dimnsns Room Type Lvl Dimnsns Room Type Lvl Dimnsns #BsmtBth:
Kitchen 1 Dining 1 Living 1 #Lvl1Bths:
Bedrm:Master 1 Bedroom 1 Bedroom 1 #Lvl2Bths:
Family 1 Media B #Lvl3Bths:


Interior: RecLite, DecMold, Slding D, Laundry, Attic-pull dwn strs, Bonus Room
Foy: FLR-Wood LR: FLR-Wood, Fireplce, DecMold, FP-Wood DR: FLR-Wood, DecMold
GR/FR: FLR-Cer, Sunken Kit: Newer, Bnook/dn, Sldingdr, Pantry, FLR-Othr, Granite Cntr MBR: FLR-Wood, Halfbath
MBA: FLR-Ceramic Flr: Wood, Ceramic, Tile, Other Bsmt: Full, PartFin, Workshop, Heated
HVAC: CentAir, FrcdHotAir Fuel: NatGas WatHt: Nat Gas
Exterior: StormWn, Sprnkler, Deck, Patio, Outdr Lghting, Fence
Gar: Attached, DirectE, Oversize, Storage, Workshop Park: Driveway, Ovrszd D, Dbl Wide, Asphalt, Off Strt Roof: Timberli
Lot: Level, Fenced/area Pool: Y:InGroun, Pool Equ, Fenced, Heated Bldg: Storage
Siding: Brick, CedarShake, Other-seermk WtSw: Public Sewer, Public Water, Well
Included: Dishwash, Refriger, Gas Cook, Stove, Self/conCln, Microwav, Washer, Dryer, SecSys, Win Trea, Lite Fix, Track Li, GDO, FpEquip, Screens, Attic Fa, StoHood, Disposal, OutdrLi
Excluded: PERSONAL BELONGINGS


Photo2 not Available Photo3 not Available Photo4 not Available


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
20937754_0778750.jpg
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!!!
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"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!!
20937754_2716250.jpg
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!!!!
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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 :)
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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 ;)
20937754_1903750.jpg
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!!!!
20937754_2497500.jpg
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
20937754_3466250.jpg
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?
20937754_0247500.jpg
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.............
20937754_1060000.jpg
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!!
20937754_2935000.jpg
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 Recomended Me!!!!

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

Anthony Barones most recent Recomendations 10-9-09

Fiona Barone

, Realtor Associate, Re/Max at Barnegat Bay (business partner)
was with another company when working with you

"I have had the pleasure of working with Anthony both in the past and presently. Be both currently work at the same office. He is very dedicated and extremely hardworking. He works for his clients and treats them with respect. Anthony is a wonderful asset to have in our office, vey likeable and social and always willing to help. He is a wonderful coworker and a wonderful partner in life. I'm sure you will be very pleased with the service and dedication he provides." September 23, 2009

Mindie Wu

(client)
Mindie hired you as a Real Estate Agent in 2009 {1}

Top qualities: Great Results, Personable, Expert

"My huband and I have hired Tony to be our real estate agent in the year 2009. Tony has demonstrated great responsibility and dedication to his work. He not only tries his hardest to find up to date listings of houses, but also he observes our likes and dislikes to search for houses more suitable to our liking. Tony has a great personal skills and is very personable. He is understanding with schedules and is very prompt in making aggangements to look at houses. He has great work ethics and strives to go above and beyond any expectations. I would hire Tony again and again as our real estate agent." September 23, 2009

Ronald Rosetto

, President, Rosetto Realty Group LLC (colleague)
worked with you

"Yes I will endorse you since we had many successful transactions with your firm, and I highly recommend you as a professional" September 23, 2009

Patrick Lynch

(client)
Patrick hired you as a Real Estate Agent in 2007 and hired you more than once

Top qualities: Great Results, Expert, High Integrity

"Anthony was terrific was always available to answer any questions and it was a complicated Bankruptcy sale. Would use Anthony again and would recommend him to anyone." September 23, 2009

Prairie Rugilo

, Real Estate Specialist, Keller Williams Realty (colleague)
worked directly with you

"Anthony is a top notch agent!" September 23, 2009

Dominick-glend Guido

, Loan Officer, Glendenning Mortgage (business partner)
was with another company when working with you

"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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" November 10, 2008

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