If you're considering buying your first home, here's another incentive for you. This week, New York State introduced another tax credit for first time homebuyers.
It's called the Mortgage Credit Certificate. It allows home buyers to take a dollar-for-dollar federal income tax deduction of 20% of mortgage interest paid each year. The remaining 80% of the mortgage interest would still be treated as an itemized tax deduction- as usual.
Governor David Paterson says the average homeowner could save about $1,520 per year for the first 10 years of the mortgage. This new tax credit would be on top of the federal tax credit of up to $8,000- which is due to expire at the end of November.
A first time homebuyer is defined as one who has not owned a home during the last three years. For the New York State Mortgage Credit Certificate, buyers must get a fixed rate mortgage with a partipating lender. So far, Wells Fargo, Bank of America and M&T Bank have signed up and others are expected to take part.
There are income and purchase price requirements, depending on where you live. For Ulster County, the annual income limit for a household of up to two people is $83,640 and for a household of 3 or more, the limit is $97,580 and the purchase price must be below $354,970 for single family homes. In Orange and Dutchess Counties, the income limit for a household of one or two people is $97,061 and for a household of 3 or more the limit is $111,620 and the house must be purchased for less than $387,740 for a single family. Purchase prices can be higher for 2, 3 and 4 family homes.
The program is expected to be available by the middle of September. If you currently have an offer on a home, you can still apply for the credit. If you don't have an offer on a house and would like to take advantage of each of these tax credits, give me a call today so we can get looking for your first home. Time is running out to save with the federal tax credit of up to $8,000.
Mother/Daughter Team Real Estate Two Together For You
ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561
Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME
On the web: www.UlsterNYHomes.com e-mail: UlsterHomes@yahoo.com
I can't believe it's been more than 2 weeks since I've posted a blog here on ActiveRain. I have thought about sitting down to write a blog several times- but sometimes life just gets in the way!!!
My in-laws came to visit for nearly 2 weeks. They live in Florida and when they come they like to spend as much time as possible with my kids. We all had a really good time. They were happy that fall seemed to come a little early this year. They loved seeing the fall foliage, eating the apples (not just fresh ones- we made applesaue, baked apples and bought fresh apple cider donuts!!!), and picked out pumpkins to take back with them for my neices, Julia and Kelsey.
The weather was perfect for their visit- cool at night and in the early mornings and mild during the day. We spent a lot of time outside with the kids. I lived in Florida for several years before I had kids, and this was always the time of year when I got the most homesick. I had so much fun enjoying fall in the Mid-Hudson Valley through a visitor's eyes.
If you're thinking of a fall getaway- the Hudson Valley has so much to offer. And don't forget to make your reservations for the Headless Horseman Hayride in Ulster Park. The annual freight fest has been named #1 Hayride in America by American Airlines Magazine, as well as #1 Haunted Attraction in the country by Haunt World Magazine. CNBC and AOL put Headless Horseman in their 10 ten list of haunted attractions.
Mother/Daughter Team Real Estate Two Together For You
ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561
Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME
On the web: www.UlsterNYHomes.com e-mail: UlsterHomes@yahoo.
If you've been thinking of buying a house, maybe this is the time to stop thinking and put in an offer. Prices are down and many owners are anxious to sell. Highland, New York is a great community to look in. Highland is centrally located between Poughkeepsie, Kingston, New Paltz and Newburgh. There are currently dozens of houses to choose from- from handy-man specials to large estates and from condos to new construction.
Here's a look at the market conditions for single family homes in Highland:
| total listings | Average DOM* | Lowest | Highest | Average | Median |
| 72 | 119 | $119,000 | $3,300,000 | $417,830 | $339,000 |
These are all the listings in Highland that have sold since August 1. As you can see, homes that are priced correctly, sell the quickest. Several houses were re-listed several times, and the prices dropped repeatedly when the houses failed to sell.
| Sold Listings | DOM* | Original price | List Price | Sold Price | Concession | Re-listed? | Original list date | First price | Total DOM* |
| 408 South St. | 333 | $175,000 | $175,000 | $107,000 | $0 | N | |||
| 6 Christopher Ave | 170 | $179,000 | $159,000 | $167,410 | $0 | Y | 11/15/2007 | $189,900 | 260 |
| 241 Chapel Hill Road | 173 | $324,900 | $220,000 | $220,000 | $0 | Y | 8/17/2006 | $495,000 | 532 |
| 114 Half Moon Road | 240 | $249,000 | $234,000 | $231,000 | $0 | Y | 8/19/2006 | $319,000 | 609 |
| 58 Ose Road | 131 | $249,000 | $249,000 | $237,113 | $7,113 | Y | 8/9/2007 | $275,000 | 311 |
| 2 Reservoir Road | 118 | $269,900 | $260,000 | $240,000 | $0 | N | |||
| 3 South Gate Road | 211 | $275,000 | $269,000 | $250,000 | $0 | Y | 2/1/2007 | $287,500 | 578 |
| 166 Lily Lake Road | 240 | $339,954 | $329,954 | $320,000 | $0 | Y | 3/1/2007 | $399,000 | 461 |
| 10 Carmella Road | 64 | $332,954 | $332,954 | $330,000 | $0 | Y | 11/7/2007 | $359,900 | 247 |
| 228 Martin Ave | 153 | $399,000 | $399,000 | $396,000 | $0 | N | |||
| 114 Station Road | 388 | $449,900 | $449,900 | $449,900 | $0 | N |
*DOM- Days on the Market
Many of the houses currently for sale in Highland qualify for a money down low interest loan through the USDA Rural Development Program. If you'd like to take a look at homes in Highland or if you'd like more information about loan program, give me a call today.
Mother/Daughter Team Real Estate Two Together For You
ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561
Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME
On the web: www.UlsterNYHomes.com e-mail: UlsterHomes@yahoo.com
Where can you sample pizza, sushi, and lamb chops all in one place? This Sunday at Taste of New Paltz. The 18th annual celebration is being held from 11am-5pm at the Ulster County Fairgrounds.
You can sample food from 30 area restaurants as well as wineries, breweries and farms. Admission is $5 for people 12 and over- and each sample is $2 or $3. Last year, I tried a mini pulled pork sandwich from Biggies Barbecue, the short ribs from Mohonk Mountain House, and cheesecake from The Bakery. I also brought home a caramel apple, a gallon of fresh cider and a pint of concord grapes for my family. We were not disappointed.
Once you've tried the best food our area has to offer, come see me. From new construction to antique homes and from large estates to small cottages, Ulster County has it all. Visit the EXiT Realty Services booth in the Youth Building for a taste of what makes us different. Whether you're interested in buying or selling, EXiT is cooking up a recipe for success.
Taste of New Paltz is held rain or shine- so I'll see there!!!
Mother/Daughter Team Real Estate Two Together For You
ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561
Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME
On the web: www.UlsterNYHomes.com e-mail: UlsterHomes@yahoo.com
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If you want to buy or sell real estate in Southern Ulster County in New York Sate, give me a call. I specialize in New Paltz, Highland, Plattekill, Marlboro, Gardiner and the surrounding area.
How can I help you? First off, when you hire me- you get 2 agents for the price of one. Both me and my real estate partner, my mom- Barbara Carter, will work hard to make your real estate dream come true.
If you're a seller or landlord, we will research on similiar properties that recently sold or are currently on the market We will use that information to come up with a price that will attract potential buyers. Once your house is listed, we will immediately begin an aggressive marketing campaign, including advertising on the Multiple Listing Services in Ulster, Orange, and Rockland Counties, direct mailings, open houses, virtual tours, and ads on websites including Craig's List and the #1 real estate site on the internet, Realtor.com. Once your property gets an offer, we will work closely with you, your attorney, and the buyer or buyer's agent to make sure the transaction closed quickly.
If you're a buyer, we will listen carefully to all your requirements, then begin a search for properties that fit your requests. We understand that buying or renting real estate is a major step in anyone's life. We will not push you into anything. We will provide you with all the facts you need to make an informed decision, then give you the time you need to decide what is best for you. Once you find the property for you, we will help you through every step of the buying process, from home inspection, mortgage application and appraisal through closing day.
So what do you have to lose? Give me a call today and let me help you make the next step toward achieving your dream.
I grew up in the Hudson Valley in Highland, NY. After graduating from high school, I attended Ithaca College in the banks of Lake Cayuga. I graduated with a Bachelor of Arts degree in broadcast journalism and a minor in politics. I worked in Syracuse, West Palm Beach, FL and Miami as a television news producer. Each night I put together the newscasts that the local CBS viewers were watching. While working in West Palm Beach, I met and fell in love with my wonderful husband, Jason. When we decided to start a family, I had to return to my home, here in the Hudson Valley. So, I dragged my poor husband from his home in sunny Florida to upstate NY, where we now live in Milton.
After our oldest son, Nathan, was born, I wanted to get back work, but returning to the 60 hour work week I had in television news just wasn't in the cards. The only other career I was interested in was real estate.. so I went back to school again to get my real estate license. Now, my life is very busy, raising our two boys, Nathan and Andrew, working hard with my mom helping our clients' real estate dreams come true and spending time with my wonderful husband.
I'm also loving bringing my 2 loves together with my blog. Everyday, I scan the latest real estate news to help keep you up-to-date.
"I wanted to take the time to say thank you for being so kind and helpful to my sister. We all have our fingers crossed for her. You made an impression on me and I'll be sure to mention you to anyone that wants to buy in the area. Again, thank you." Valerie Farrell
"You are both genuine people and I feel real comfortable working with you. I feel as if you are truly looking out for me and it is a good feeling." Judy FInch
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