dianne sommers: Senate gives homebuyers an extra 3 months... - 06/17/10 07:59 AM
Good news - Yesterday the Senate approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring.
The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to complete their purchases and qualify for tax credits of up to $8,000. Under the current terms, buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale.
The proposal, approved by a 60-37 vote, would only allow people who already have signed contracts to finish at the later date. About 180,000 homebuyers … (0 comments)
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dianne sommers: Time is running out...here are the facts about the Homebuyers Tax Credit: - 03/27/10 09:32 AM
The credit of up to $8,000 for first-time buyers, originally due to expire Nov. 30, has been extended into 2010. This is money that never has to be repaid, provided you live in the home for three years.Homebuyers who owned and lived in their principal residence for five consecutive years of the last eight are eligible for a credit of up to $6,500.Facts about the Homebuyer Tax Credit:
You must have a signed purchase agreement for your home no later than April 30, 2010, and the transaction must close before July 1. First-time buyers receive a credit of 10 percent of … (0 comments)
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dianne sommers: Long Hill Township market update.... - 03/11/10 09:15 AM
Long Hill Township is FINALLY starting to see the Real Estate market start to move.
We have witnessed the surrounding towns' inventory continue to move over the past few months while Long Hill appeared to remain stagnant.
There are currently 58 active listings in Long Hill and we have 8 homes under contract, which is twice as many under contracts as this time last month!! Hopefully this is a good indication of a busy Spring Market!!
under contract
354 Passaic Ave
2086 Valley Rd
262 Northfield Rd
153 Rolling Hill Dr
100 Jodi Lane
84 Charles Rd
sold
107 Longview … (0 comments)
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dianne sommers: The Basics of a Short Sale - 02/13/10 10:54 AM
THE BASICS A SHORT SALE:
Banks grant short sales for 2 reasons: the seller has a hardship, and the seller owes more on the mortgage than the home is worth.
A few examples of hardship are:
Unemployment/Reduced Income
Divorce
Medical Emergency
Job transfer out of town
Bankruptcy
Death
If this is the situation you find yourself in, please do not hesitate to contact me for more information on the Short Sale process. It is not a process to be afraid of, but it is important to hire a Real Estate professional who is familiar with the process.
For … (0 comments)
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dianne sommers: Great Price!! - 02/01/10 12:37 PM
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dianne sommers: 211 Hickory Tavern Road, Gillette, NJ - Great New Price!! - 01/11/10 12:00 PM
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dianne sommers: Facts about the Home Seller Tax Breaks: - 01/06/10 12:20 PM
Facts about the Home Seller Tax Breaks:
Almost everybody has heard about the $7500 tax credit for first-time home buyers, but what about tax breaks for home sellers? Home sellers enjoy a tremendous tax benefit upon resale. Internal Revenue Code Section 121 authorizes an "exclusion" - escape from income taxes - for profits from home sales. The exclusion is as much as $500,000 for married couples who file joint returns, and $250,000 for single filers and couples who file separate returns. What happens, though, when the gain is greater than the exclusion ceiling of $500,000 or $250,000? Answer: The excess is … (0 comments)
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dianne sommers: Long Hill Township Homes - 2008 vs 2009 - 01/06/10 12:17 PM
LONG HILL TOWNSHIP HOMES
2008
86 Homes sold
Average sales price - $539,647
2009
56 Homes sold
Average sales price - $498,513
Long Hill Township saw a 7.6% decline in average sales price from 2008 to 2009. We have definitely seen a "slow down" in the Long Hill market over the past 6 months. With the interest rates still at record low numbers, and the first time home buyers tax credit extended, we are looking for the home sale numbers to pick up over the next few months.
For more information, please do not hesitate to contact me or … (0 comments)
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dianne sommers: Facts about the Homebuyer Tax Credit - 12/09/09 09:31 AM
Facts about the Homebuyer Tax Credit:
You must have a signed purchase agreement for your home no later than April 30, 2010, and the transaction must close before July 1.
First-time buyers receive a credit of 10 percent of the purchase price, up to $8,000. You are considered a first-time buyer if neither you nor your spouse has owned a principal residence in the U.S. within the last three years.
Buyers who owned and lived in their principal residence for at least five consecutive years of the last eight can receive credit of up to $6,500 when they contract to purchase … (0 comments)
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dianne sommers: Long Hill Township Market Update - October 2009 - FIRST TIME HOME BUYER TAX CREDIT - 11/02/09 11:37 AM
LONG HILL TOWNSHIP MARKET UPDATE
October 2009
New listings - 7
Under Contract - 4
Closed Sales - 7
FIRST TIME HOME BUYER TAX CREDIT:
The first time buyers tax credit has been EXTENDED and EXPANDED! Apparently through April 30, 2010 with a 60 day extension for contracts written by that date to close. It is also EXPANDED for move-up buyers (possibly a $6500 credit) who have lived in their homes for the past 5 years.
More details to follow...we are just waiting for a final bill to be passed in the Senate...this is great news!!!
For more infor mation on Long … (1 comments)
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dianne sommers: Open House - Sunday 9/13/09 1-4pm - 09/11/09 09:43 AM
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dianne sommers: Listed, marketed and under contract in 9 days!!! - 09/11/09 09:30 AM
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dianne sommers: FIRST TIME HOME BUYER TAX CREDIT - 09/10/09 09:24 AM
TIME IS RUNNING OUT FOR FIRST TIME HOME BUYERS TO QUALIFY FOR UP TO $8000 TAX CREDIT. YOU MUST CLOSE ON YOUR NEW HOME BY NOVEMBER 30, 2009. FOR MORE INFORMATION, PLEASE DO NOT HESITATE TO CONTACT ME .
Dianne Sommers
RE/MAX Classic Group
440 Springfield Avenue
Berkeley Heights, NJ 07922
(908) 432-5721
www.longhilltownshiphomes.com
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dianne sommers: Great new listing in Long Hill Township!! - 09/04/09 03:25 PM
For more information do not hesitate to contact me on (908) 432-5721. … (1 comments)
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dianne sommers: New Listing - 211 Hickory Tavern Road, Gillette, NJ - 08/31/09 03:08 PM
For more information do not hesitate to contact me @ (908) 432-5721. … (0 comments)
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dianne sommers: New Listing - 23 Chaucer Drive, Berkeley Heights, NJ - 08/31/09 03:05 PM
For more information please do not hesitate to contact me @ (908) 432-5721. … (0 comments)
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dianne sommers: Sunrise at Gillette - 08/17/09 01:22 PM
For more information please feel free to contact me or visit www.longhilltownshiphomes.com. … (0 comments)
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dianne sommers: LONG HILL TOWNSHIP MARKET UPDATE - JULY 2009 - 08/08/09 11:52 AM
LONG HILL TOWNSHIP MARKET UPDATE
JULY 2009
New listings - 11
Under Contract - 7
Closed Sales - 5
Long Hill has seen a bit of a slow trend over the past couple months. We are still seeing homes go under contract but not as many as surrounding towns. Fortunately though, we are seeing the home prices stabilize. This appears to be the case in a lot of areas throughout the country.
Unfortunately, there is still the possibility to see downward prices if more short sales and forelosures hit the market.
Call me today to find out the current value of … (0 comments)
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dianne sommers: Great new price! Open House 8/9/2009 1-4pm - 08/08/09 11:23 AM
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dianne sommers: Long Hill Township Market Update - 07/04/09 01:12 PM
LONG HILL TOWNSHIP MARKET UPDATE
January 2008 - June 2008
Closed Sales - 43
Average Sales Price - $554,276
Average Days On Market - 104
January 2009 - June 2009
Closed Sales - 24
Average Sales Price - $490,416
Average Days On Market - 115
The average sales price of a home in Long Hill Township decreased 11.5% from the first half of 2008 to the first half of 2009. There has also been a drastic drop in sales from last year to this year.
It still remains a great time to buy a home with the decrease in sales price … (0 comments)
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