The new law will extend the $8,000 credit for first-time home buyers for sales contracts entered into by April 30, 2010 and closed by June 30. Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new principal residence. An existing home owner can claim the $6,500 tax credit if they have been residing in their principal residence for five consecutive years out of the last eight. Additionally, the income eligibility limits to claim the full credit amount for both groups of home buyers have been raised to $125,000 for individuals and $225,000 for married couples.
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200 Midland ave, Eastchester, NY 107073 Bdrm 1 Bathrm Single-Family Home $ 390,000
Bedrooms: 3 Bathrooms: 1 Floors: 3 Sq foot: 2,000 Year built: 1927 Description Affordable at its Best, Large Bright Spacious Single Family House for Sale. In Move In Condition 3 bedroom 2 bath Eastchester NY with Award Winning Tuckahoe Schools, Basement Is Finished Great for the In-laws or Extended Family. House has a front/back patio with porch, and a nice back yard for the family. Serious Seller Present All Offers. House Shows Well. Kitchen, Bath, Roof, Windows Done Only 5 year ago. Taxes Do Not Reflect a Star Reduction |
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Mortgage rates drop for third week; 30-year at 5.14%(Mortgage New , Yonkers NY )
The Interest Rate on 30 years dropped to 5.14% ending week for July 16, 2009. This is lowest since the week ended may 28, the drop in rate is a positive for the housing market, which has been showing signs of stabilization, with sales rising and home price declines moderating in many regions of the country.
Mortgage rates remained above 5% for a seventh straight week. Experts say mortgage rates at 5% and below are the levels needed to make a significant impact on home loan demand.
Treasury yields, which are linked to mortgage rates, have fallen recently, with mortgage rates responding in kind.
"For a 30-year fixed-rate mortgage, the rate reduction over the past five weeks translates into a monthly payment saving of $56 on a $200,000 loan," Frank Nothaft, Freddie Mac vice president and chief economist, said in a statement.
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Mayor said he will veto the 2010 operating budget, because the severe impacton public safety and quality of life. The budget, which would have included a 5.75% property tax increase, It would cut cities services, most notably within the city's police department, eliminating some units and posts altogether.
Municipal services most adversely affected by the City Council's budget cuts fall within the police department, which had $2.2 million-or 18%-slashed from its overtime budget. The overtime cuts would impact nearly every aspect of police operations including foot posts, neighborhood patrols, traffic details, anti-crime units, anti-drug units, and security at special events. Details follow.
The police department wasn't the only one hit hard by the City Council's budget. A 2% across-the-board cut to most city departments will result in many other citywide service reductions, some of which are listed below.
City Council Budget Cuts (non-public safety):
They would profoundly impact quality of life in Yonkers by impeding our ability to enforce city code requirements, construct new affordable housing and continue key economic development initiatives. These cuts are extremely shortsighted and would cause more damage to the city over the long term than the minimal savings they would produce in the short term."
The City Council failed to meet its City Charter mandated deadline to adopt a budget by June 1, finally passing a scaled back version of the budget three weeks late on June 20. The Council's delay and inaction has pushed the city to the brink since the budget must still be sent to the state comptroller for final certification.
The budget now goes back to the City Council for reconsideration. Five votes are needed to override a mayoral veto.
Yonkers Ny Real estate, Yonkers Homes for sale.
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