President Obama signed HR 3548 (The Worker, Homeownership, and Business Assistance Act of 2009)
This bill extends unemployment benefits and includes an amendment to also extend and expand the federal tax credit.
Here is my previous post from yesterday which outlined the variations between the old tax credit and the new one:
One MAJOR change is: Existing homeowners who have lived in their homes for at least five consecutive years, (out of the last eight) will be eligible for a credit that can total $6,500.
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Toula N. Rosebrock (of Diane Turton, Realtors) - Broker / Sales Associate
Specializing in all of Ocean County - Lacey Township Real Estate, Forked River / Lanoka Harbor
Unique Name ... Unique Agent ... Unique Service!
My Websites:
www.OceanCountyNJRealEstateSales.com
Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges
News from the National Association of REALTORS® Government Affairs Division
The House and the Senate have passed the unemployment insurance bill, that included the amendment that expands and extends the tax credit.
It's expected that President Obama will sign the bill in the next day or so...
There are some variations however:
Program Date:
CURRENT = Jan 1, 2009 - November 30, 2009
NEW = December 1, 2009 - April 30, 2010
First-time Buyer - Amount of Credit:
CURRENT = $8000 ($4000 married filing separate)
NEW = $8000 ($4000 married filing separate)
First-time Buyer - Definition for Eligibility:
CURRENT = May not have had an interest in a principal residence for 3 years prior to purchase
NEW = Same
Current Homeowner - Amount of Credit:
CURRENT = No Provision
NEW = $6500 ($3250 married filing separate)
Effective Date - Current Owner:
CURRENT = No Provision
NEW = Date of Enactment
Current Homeowner - Definition for Eligibility:
CURRENT = No Provision
NEW = Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.
Termination of Credit:
CURRENT = Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment.)
NEW: Purchases after April 30, 2010
Binding Contract Rule:
CURRENT = None
NEW = So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Income Limits (Note: Increased income limits are effective as of date of enactment of bill):
CURRENT = $75,000 - single / $150,000 - married / Additional $20,000 phase out
NEW = $125,000 - single / $225,000 - married / Additional $20,000 phase out
Limitation on Cost of Purchased Home:
CURRENT = None
NEW = $800,000 (Effective Date of Enactment)
Purchase by a Dependent:
OLD = No Provision
NEW = Ineligible (Effective Date of Enactment)
Anti-fraud Rule:
OLD = None
NEW = Purchaser must attach documentation of purchase to tax return.
Toula N. Rosebrock (of Diane Turton, Realtors) – Broker / Sales Associate
Specializing in all of Ocean County - Lacey Township Real Estate, Forked River / Lanoka Harbor
Unique Name … Unique Agent … Unique Service!
Websites: www.ToulaRosebrock.com
www.OceanCountyNJRealEstateSales.com
Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges
Toula N. Rosebrock - Broker/Sales Associate (of Diane Turton, Realtors)
Unique Name ... Unique Agent ... Unique Service!
Websites: www.Toula.org www.ToulaRosebrock.com www.OceanCountyNJRealEstateSales.com www.Toula.info
Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges
Specializing in Ocean County, New Jersey - Lacey Township Real Estate / Forked River / Lanoka Harbor
Municipal Alliance Halloween Costume Party/Contest
Saturday, October 24, 2009
Place: Lacey Township Middle School, 660 Denton Ave. , Forked River, NJ 08731
10:30 AM - 2:00 PM
Pre-Admission is $5.00 - $7.00 at the door
For each paid admission; three hotdogs & a cupcake. Beverages and snacks will be available.
DJ Mike will host games with prizes.
Costume Judging at 12:00 noon with prizes for scariest, funniest and most original.
Toula N. Rosebrock - Broker/Sales Associate (of Diane Turton, Realtors)
Unique Name ... Unique Agent ... Unique Service!
Websites: www.Toula.org www.ToulaRosebrock.com www.OceanCountyNJRealEstateSales.com www.Toula.info
Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges
Specializing in Ocean County, New Jersey - Lacey Township Real Estate / Forked River / Lanoka Harbor
Bamber Lake's Fire Company (LACEY TOWNSHIP, NJ)
Presents its Annual: "HAUNTED HAYRIDE"
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Friday, October 23rd Saturday, October 24th |
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Adult Hay Rides Friday and Saturday 7 pm to 10 pm |
Cost: $5.00 (6 years +) Children under 5 Free All Children must be accompanied by an adult |
Kids Hay Ride
Saturday Only
from 3 pm to 5 pm
Bamber Lake Fire Co located at: 2630 Lacey Rd Forked River, NJ 08731
Toula N. Rosebrock - Broker/Sales Associate (of Diane Turton, Realtors)
Unique Name ... Unique Agent ... Unique Service!
Websites: www.Toula.org www.ToulaRosebrock.com www.OceanCountyNJRealEstateSales.com www.Toula.info
Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges
Specializing in Ocean County, New Jersey - Lacey Township Real Estate / Forked River / Lanoka Harbor
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Broker-Sales Associate - (609) 290-7725 cell Specializing in Ocean County, Waterfront Communities & Residential Construction. "Unique Name...Unique Agent...Unique Service!"
Committed to Customer Service & Customer Satisfaction.
Bachelor's Degree in Business-Marketing
Agent since 1997. Broker since 2005.
25+ years of Residential Construction Experience.
Worked in Corporate America from 1975-1997
Office Agent of the Year 2003 thru 2007
NJAR Circle of Excellence award recipient ; 2008 Silver / 2007 Silver / 2006 Gold / 2005 Gold / 2004 Gold / 2003 Silver / 2002 Bronze
www.oceancountynjrealestatesales.com
Visit Toula on her websites:
Committed to Customer Service and Customer Satisfaction, Toula Rosebrock is known for the professional care and respect she offers Buyers, and Sellers, regardless of their price range. Attention to detail and focused perseverance, is the foundation upon which her success has developed. Extremely hard working, loyal and her genuine concern for others would best describe Toula's philosophy in her life and her Real Estate career.
Specializing in Waterfront Properties and Residential Construction
Expertise in Resales & New Construction.
Serving all of Ocean & Monmouth Counties - Single Family, Multi-Family, Adult Communities, Vacation Properties, Condo/Townhomes, Vacant Land and Commercial Properties
Make your BEST move, "call only Toula". Helping people with all of their real estate needs.
"Unique Name...Unique Agent...Unique Service!"
On a personal note, Toula also runs a non-profit rescue for homeless pets, Pet Agree Rescue.
Specializing in Ocean County. Waterfront, Residential - Single Family/Multi-Family Homes, Adult Communities, Commercial, Vacant Land, 1031 Exchanges, Short Sales, Foreclosures. Full Service!
TESTIMONIALS:
Toula, You're the woman. Seriously. You're the BEST agent I've ever worked with. The entire transaction was an absolute pleasure, and I genuinely look forward to working with you again. Sharon Curran, Prudential Bay Front - Brick, NJ
HELPING BUYERS & SELLERS WITH ALL OF THEIR REAL ESTATE NEEDS!
Call Direct at 609-693-0295 or cell at 609-290-7725
Visit my websites at
www.oceancountynjrealestatesales.com
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