It may be November, but the real estate market is heating up!
Maybe it's because of the new homebuyer tax credit, but my phone has been ringing all day with agents making appointments to show my listings! This is great!
It may be November, but it feels like spring!
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If you are thinking of buying or selling a home in Marlboro, Manalapan, Freehold or the surrounding areas in Monmouth County, New Jersey, don't wait! There are others buyers and sellers who want to make a deal with you. Call me, and let me help. I would appreciate the opportunity to earn your business!
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Lynn Michaels is one of the Top Producers in the Marlboro / Manalapan office of Weichert, Realtors.
Lynn Michaels (Cell) 908-804-3200 (Email) lynnmichaels@hotmail.com (Web) http://www.lynnmichaelshomes.com/
Today, President Obama signed into law the extension and expansion of the first time homebuyers tax credit bill, which received overwhelming bipartisan support in both houses of Congress.
The homebuyer tax credit provisions are actually part of an Unemployment benefits extension bill, extending unemployment benefits just as the jobless rate hit 10.2%.
For the jobless, the bill extends unemployment benefits for an additional 14 weeks for individuals who will have used up their benefits by the end of this year. An additional six weeks of benefits will be allowed for people who live in states with over 8.5% unemployment.
As for the tax credit extension and expansion for home buyers, the National Association of Realtors has provided a chart comparing the new homebuyer tax credit to the one that is expiring on November 30, 2009, as well as Frequently Asked Questions about the homebuyer tax credit changes.
You can read my earlier posts on this topic here:
Senate approved extension and expansion of homebuyer tax credit.
House passes Senate bill extending and expanding homebuyer tax credit.
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If you would like information on buying or selling homes in Marlboro, Manalapan or Monmouth County, New Jersey, please call me. I would appreciate the opportunity to earn your business!
Lynn Michaels is one of the Top Producers in the Marlboro / Manalapan office of Weichert, Realtors. Whether buying or selling a home in Marlboro, Manalapan, Freehold or the surrounding areas, call Lynn for outstanding service and results.
Lynn Michaels (Cell) 908-804-3200 (Email) lynnmichaels@hotmail.com (Web) http://www.lynnmichaelshomes.com/
Just yesterday, the Senate unanimously approved a bill extending and expanding the first-time home buyer tax credit, which I wrote about earlier today.
Today, the House of Representatives voted 403-12 in favor of this bill, which may be signed by President Obama as soon as tomorrow.
The new bill extends the home buyer tax credit for purchasers who have a contract to purchase a home by April 30, 2010, and who close the transaction by June 30, 2010.
It also provides a tax credit up to $6,500 for current homeowners who have been in their homes for five of the past eight years and adhere to the same timetable.
Military personnel who are deployed overseas have a longer time period in which to claim their tax credit.
Furthermore, the bill increases the income limits for individuals from $75,000 to $125,000 and for couples from $150,000 to $225,000.
The tax credit only applies to home purchases up to $800,000.
Buyers must use the home as their primary residence and may not sell the home for a minimum of three years, or they have to repay the credit.
This is wonderful news for the housing market, which slowed as a result of the looming November 30 deadline.
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Lynn Michaels is one of the Top Producers in the Marlboro / Manalapanoffice of Weichert, Realtors. Whether buying or selling a home in Marlboro, Manalapan, Freehold or the surrounding areas, call Lynn for outstanding service and results.
Lynn Michaels (Cell) 908-804-3200 (Email) lynnmichaels@hotmail.com (Web) http://www.lynnmichaelshomes.com/
The Senate voted 98-0 to extend and expand the home buyer tax credit. The bill now goes to the House of Representatives, and if it passes, President Obama must sign the bill before it becomes law.
Under the Senate bill, first time home buyers must be under contract on their new home by April 30, 2010 and closed by June 30, 2010 to take advantage of the $8,000 tax credit. The bill would also allow current homeowners who have been in their homes for five of the past eight years to take advantage of a $6,500 credit if they buy a new home on the same timetable.
Income limits for the credits have been raised for individuals from $75,000 to $125,000 and for couples from $150,000 to $225,000.
The credit will only apply to homes selling under $800,000.
The National Association of Realtors and its members have done a great job raising awareness and lobbying Congress for this bill. In the next few days, we will probably see our efforts pay off!
I'll keep you posted!
As Halloween approaches, Marlboro Township has instituted a safety curfew to protect our Township's children.
All children under 18 years of age must observe the curfew from 10:00pm to 6:00am on Thursday, October 29 through Monday November 1, 2009.
The curfew prohibits youngsters from being in a public place, street, or property during curfew hours unless returning from or going to work, school, church, a doctor, or a dentist, unless they are accompanied by a parent or guardian over the age of 20.
No one is allowed to wear a mask in public during curfew hours.
For more Halloween safety tips, visit the Marlboro Township Police Department's Halloween Handbook.
HAVE A HAPPY AND SAFE HALLOWEEN!
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Lynn Michaels is one of the Top Producers in the Marlboro / Manalapan office of Weichert, Realtors. Whether buying or selling a home in Marlboro, Manalapan, Freehold or the surrounding areas, call Lynn for outstanding service and results.
Lynn Michaels (Cell) 908-804-3200 (Email) lynnmichaels@hotmail.com (Web) www.LynnMichaelsHomes.com
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The OUTSTANDING SERVICE you deserve...The RESULTS you want! Whether buying or selling a home, I’m your Marlboro & Manalapan area Realtor. YOU are my top priority! Serving Monmouth, Middlesex & Ocean
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