Chatham, NJ

"Congress voted on Thursday to extend the tax credit and President Obama plans on signing it into law Friday morning. The $8,000 credit will apply to all contracts, for homes up to $800,000, entered into before April 30, 2010, and closed by June 30. It creates a new $6,500 credit for property owners who have lived in their home for at least five consecutive years."

Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples, from $75,000 and $150,000, respectively. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return. From the NY Times:

Read more: http://njrereport.com/

Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell)

NJ Estates Real Estate Group Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069

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Here are the numbers showing activity, for listings and sales of real estate in Chatham Borough comparing the months of March 2008 vs 2009.

This is showing what we all know has been true ... home prices in New Jersey had become too high for first time buyers to make their move toward home-ownership - in fact between 2000 and 2005 incomes in NJ rose 16% while home prices rose 86%. Although home prices in Chatham have held much better than most of NJ and the nation, there has been an adjustment that probably will continue through 2009. This can be seen in the number of sales - only 2 in 2009 vs 5 in 2008. And, we currently have 68 active listings vs 61 last year. The good news is that we are matched up with last year with under contracts. Now, if they all close, we'll be in good shape!

1. For more information about Chatham real estate and to search Chatham area homes for sale, as well as Madison homes, Summit real estate, Chatham condos, and Convent Station townhouses, please contact Trish Giassa at 201-960-2090 or email Trish@BestNJhomes.com
   

Chatham, although often viewed as one town, is actually two separate and distinct towns: Chatham Township and Chatham Borough. The Township features single family homes on larger lots and several townhome and condo developments, while the Borough is closer to the downtown area with beautiful older homes, specialty shops, and restaurants. In 2005, Chatham Borough was recognized by Money Magazine as the 9th-ranked of the "Best Places to Live" in the United States. To learn more about Chatham Township and Chatham Borough visit www.MorrisCountyLiving.com

Chatham Township and Chatham Borough, New Jersery

By Robin Benjamin, Sue Adler Team

When I moved to Chatham last year from Short Hills, it felt like I was moving to another country, yet it is only one town over! I was used to Millburn Ave, not Main Street! and I swear the leaves on the trees were a duller shade of green. After 25 years of living in Short Hills, I was "a woman without a neighborhood," homesick and lost.

What I've come to learn, is that the Summit, Chatham and the Short Hills areas are more closely connected than I ever realized. It just took a personal move to find out.

Why the change in attitude?

Recently I had opportunities to dine at two local Chatham restaurants; Gregorio's and Scalini Fedeli. Both are on Main St, within walking distance to everything in town, a convenience I love.

Gregorio's can get really busy, so be sure to get a reservation and bring your own wine which I always consider a plus. A few other local hot spots on Main Street and not to be missed; Seranade , fine dining to perfection. A Taste of Asia is Malaysian cuisine. For those who don't know what that is, it's a mix of Chinese and Thai food. Yum! Chatham of course has a Japanese restaurant. Mitsuba . I've been to my fair share of sushi places. This might be one my favorites of all times!

To see rest of this entry, visit: http://njexperts.com/2009/01/22/im-still-home-on-main-street-in-chatham/