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Susan McLaughlin

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Rumson to host rowing's largest collegiate event, The Dad Vail Regatta

11-17-09
Susan McLaughlin

Crew Rowers on the Navesink River by Susan McLaughlin Dad Vail

Today's Philadelphia Daily News announced that the Dad Vail Regatta will be hosted this coming May in Rumson, a change of venue after 56 years on Philadelphia's Schuykill River.

The Dad Vail Regatta is the largest collegiate regatta in the United States, with over 100 colleges and universities from the U.S. and Canada. The Dad Vail was held in Rumson one year in the 1930s. Held in Philadelphia since 1953, the two-day event attracted 122 schools last year and draws about 30,000 to 45,000 spectators.

Philadelphia's organizers said city costs have doubled and corporate donations have dipped, and Rumson offered to contribute $250,000 to next year's race. Rumson Mayor John Ekdahl says officials are thrilled and think the event will benefit Rumson and other towns along the Navesink and Shrewsbury rivers.

From the announcement:

"Rumson, New Jersey, representatives approached us after learning that we have a need to restore financial reserves and made a very compelling proposal to host the event in 2010," Dad Vail President Jim Hanna said in the release. "Their support will preclude the need for large increases in registration fees to participating crews while continuing to benefit the Philadelphia community rowing programs."

Mayor Ekdahl said hosting the event "gives us and the sport instant credibility in the Two River area."

Rumson-Fair Haven Regional High and the borough's recreation department launched the Rumson Fair Haven Crew program three years ago, although the team is entirely self-supporting, receiving no funding from the RFH school budget. For more information on Rumson Fair Haven Crew, visit http://www.rfhcrew.com

Please join us on May 7th and 8th 2010 for the 72nd Dad Vail Regatta. Watch as information becomes available on the Dad Vail Regatta.

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Tax Credit has not been extended yet

10-30-09
Susan McLaughlin

October 30, 2009

Senate Makes Tentative Agreement to Extend and Expand Tax Credit

Within the past 72 hours, some misinformation regarding the extension and expansion of the first-time home buyer tax credit has been disseminated through various media outlets. As of today, no formal bill regarding an amended tax credit program has been passed. On Wednesday, October 28, 2009, Senate leaders reached a tentative agreement to extend and expand the federal first-time home buyers' tax credit originally set to expire November 30.

While the method for passage remains uncertain, the deal would extend the $8,000 credit for first-time buyers until April 30, by which point they must have sales agreements in hand. These buyers would have until June 30, however, to go to settlement. The agreement would also provide a $6,500 credit for current homeowners who purchase a new residence in this time frame. To qualify, the homeowners must have lived in their primary residence for five continuous years. Qualifying income limits would also be raised to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000.

The Senate has not yet agreed whether the extension will be put up for a vote as its own bill or in conjunction with other legislation. Once it passes the Senate, the measure must be voted on by the House and signed into law by President Obama. Stay tuned to www.njar.com and the Week in Review e-newsletter for further developments. Until then, NJAR® continues to urge its members to respond to the NATIONAL ASSOCIATION OF REALTORS® (NAR) Call for Action (CFA) if they have not already done so.

http://takeaction.realtoractioncenter.com/ct/77wsf661qTSK/On Monday, October 26, 2009, shortly before the tax credit deal was made in the Senate, NJAR® joined Congressman Leonard Lance (NJ-07) at a press conference in support of the extension and expansion of the federal first-time home buyer tax credit for residents across the state through 2010. Earlier this month, Lance introduced the Homebuyer Tax Credit Fairness Act (H.R. 2779) which would specifically extend and expand the popular tax credit from $8,000 to $15,000 through December 1, 2010, and open it to all people buying a primary residence regardless of income or past homeownership. For more on the press conference, view the press release and read the Asbury Park Press and NJ 101.5 news pieces on the NJAR® "In the News" page.
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You Can Buy Now with 3.5% Down on Government Insured FHA Loan

10-20-09
Susan McLaughlin

Last month, the share of applications for government-insured mortgages reached its highest level since November 1990, with government-insured loans accounting for nearly 36% of all mortgage applications, according to the Mortgage Bankers Association.

Most of those loans are made by the Federal Housing Administration, a New Deal-era agency that doesn't actually make loans but insures lenders against losses. Other government-insured loans are offered by the Department of Veterans' Affairs.

In May, the government-insured share of mortgage applications stood at around 26%, down slightly from 27% in June 2008. Just four years ago, the government-insured share of applications stood at less than 6%. Back then, the proliferation of no-money-down loans made increasingly irrelevant the FHA, which requires down payments of at least 3.5%. Today, that's nearly impossible to find in the private market, and over the past two years, the FHA has watched its market share ramp up dramatically.

But any surge in demand for FHA loans shouldn't come as a surprise, especially when considering recent surveys that show home buyers still believe they shouldn't have to sink large down payments into home purchases. A recent survey of buyer attitudes by Zillow.com found that more than one-third of buyers don't plan to make down payments larger than 10%, while nearly one-fifth of buyers don't plan to put any money down. Only 22% of buyers said they planned to make down payments that exceeds 20%.

If you are ready to buy and want to take advantage of the low rates, reduced prices AND the $8,000 tax credit, don't delay any longer. Call me at 732-768-1068.

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There's a chill in the air! Get IRS credits for energy upgrades!

10-20-09
Susan McLaughlin

Improve Your Home and Have Uncle Sam Pay for It by Property Management Software

Real Estate Property Energy Efficiency Tax Credit

Uncle Sam will credit you 30% of the cost up to $1,500 in 2009 for improvements to existing home that make your home more energy efficient.

Find out how Uncle Sam will pay for your caulking, duct sealing, and much more...

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Fair Haven: A Waterfront Park for a Waterfront Town

08-24-09
Susan McLaughlin

Fair Haven's Borough Council voted tonight to move forward with the acquisition of a waterfront home to create a passive park. Located at the end of DeNormandie Avenue, the piece is known locally as the Williams/Robards house.

Charles Williams, a free black American, built his homestead in 1853, long before the Civil War. The house had additions over the years, but retains it's hidden staircase, wavy glass windows and original cooking fireplace. The land itself is well suited for a park, it is level, without wetlands and boasts a magnificent variety of specimen trees.

Mayor Michael Halfacre, Borough Council and Fair Haven Administrator, Mary Howell have identified State, National and Monmouth County sources of funding to assist in the purchase of this park land. It is anticipated that this funding will alleviate much of the expense of the purchase for taxpayers.

It has been my pleasure working with Mr. Williams' decendants, brothers Don and Bob Robards in the sale of the property to my home town. The park will be named in honor of the Williams/Robards family, a fitting tribute to a family that has contributed to Fair Haven for 155 years.

Fair Haven DeNormandie Ave Park Copyright 2009 Susan McLaughlin

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