The government has released the "lifeline" to the sub prime market. I think it was a "Lifeline" to those in the banking market more so. I feel it had shades of back room deal makingfor the high end banking investors then it ever had for the guy or girl who might loose their home because they had rose colored glasses on when it came to their personel finances. I deal in North Western New Jersey in the Morris County area, but also in Sussex and Warren Counties. I have a suggestion and I would love to here a response I from my fellow colleagues in the Real Estate industry. I think all the government had to do was say anyone who buys a second home, for any reason, and the first $50,000 of capitol gains is tax free...! (if purchased in 2008). This would release a wave of people who have extra funds but don't see the benefit's of investing in Real Estate right now, especially because of the fees involved ie. Transfer, Title, Lawyer, Mortgage, Broker ect. . At the end of the year 2008 this would expire or could be extended. Just a Thought.
Robert Baglione http://www.sellnjrealestate.com/
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