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Toula Rosebrock -Broker/Sales Associate, Realtor, Lacey Township, Ocean County,

IT'S OFFICIAL! President Obama has signed the bill...

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:

Tax Credit differences

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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ToulaRosebrock.com

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.Toula.org

www.ToulaRosebrock.com

www.OceanCountyNJRealEstateSales.com

Waterfront Properties, Single Family Homes, Multi Family Homes, Condos, Townhomes, Adult Communities, Vacant Land, Commercial Properties, 1031 Exchanges

EXTRA - EXTRA! The latest news on the $8,000 Tax Credit

PaperBoy

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.




ToulaRosebrock.com

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.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

Speechless Sunday - Sunrise in Forked River, NJ

Sunrise in Forked River


ToulaRosebrock,com

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

Lacey Township, NJ - Municipal Alliance Halloween Costume Party/Contest - October 24, 2009

PumpkinCat 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.

DancingPumpkinGhost

DJ Mike will host games with prizes.

Costume Judging at 12:00 noon with prizes for scariest, funniest and most original.


ToulaRosebrock,comToula 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

Lacey Township, NJ - Haunted Hay Ride - October 23 & 24th, 2009

Pumpkin

Bamber Lake's Fire Company (LACEY TOWNSHIP, NJ)

Presents its Annual: "HAUNTED HAYRIDE"

Friday, October 23rd

Saturday, October 24th

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


ToulaRosebrock,com

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