first time buyers: First Time Home Buyer Tax Credit - 03/02/09 02:49 PM
The stimulus package includes a revison to the credit given to first time home buyers. All of the changes are good!
1. The amount of the credit is 10% of the cost of the home with the maximum now $8000.
2. Applies to purchases of principal residence which close between January 1 and December 31 of 2009. All principal residences eligible: houses, townhouses, condos and co-ops.
3. Major change: No repayment required! If house is sold within three years of purchase, the amount is recaptured upon sale.
4. Buyers who take advantage of state grants can also take tax credit.
5. … (1 comments)
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first time buyers: Economic Stimulus Plan - 02/07/09 03:12 PM
I'll be watching what Congress decides to do this week about the economic stimulus package. Particularly I'll be wanting to see if the $15000 tax credit to home buyers is passed. This credit would be a great boost for the ailing real estate market. Buyers would have an additional motivation to buy and sellers would have an additional benefit to offer. Let's hope our leaders act quickly so we can begin promoting this much needed stimulus.
Bonnie DeCarolis
Weidel Realtors 908-313-5052
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first time buyers: Smart Growth in New Jersey - 11/12/08 11:15 AM
New Jersey has designated certain areas throughout the state as Smart Growth areas. Generally these areas are along major highway corridors. For example, in Hunterdon county the Smart Growth areas follow Route 22 which goes through Readington and Clinton townships. Not all of either of these townships qualifies as Smart Growth.
The Smart Growth areas are designed to encourage home ownership where there is already dense population. Don't look for complete logic here though. For example, most but not all of Hillsborough township in Somerset county is considered Smart Growth while it appears that all of Bridgewater township is included. Meanwhile … (0 comments)
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