homebuyer: It's A Great Time to Buy
- 07/05/11 08:10 AM
There is no way to predict the bottom of the market. If I had a crystal ball maybe, but I don't. So what makes me say that now is a great time to buy? Prices are down and so are rates, add a large inventory to the mix and you have a great trifecta. You want more, how about the large number of "cash" transactions in the market. I have spoken with many realtors recently that are getting cash offers on their listings. Why is that such a big deal? Cash offers mean investors. The investors are getting in the market … (0 comments)
homebuyer: New Tax Credit for NJ Home Purchases Received Final Legislative Approval Thursday
- 06/11/10 03:29 AM
The Senate voted 38-0 to approve the bill. It was approved 67-8-2 by the Assembly on May 20. It now goes to the governor for his consideration. The bill (A-1678) would establish the New Jersey Homebuyer Tax Credit Program under the New Jersey gross income tax for home purchases made within a year of the bill's enactment. Refundable tax credits would be allowed for up to $15,000 or 5 percent of the home purchase price, whichever is less, for homebuyers of new and previously owned homes.The total credits available would be capped at $100 million, with $75 million allocated for purchases … (3 comments)
homebuyer: Assembly approves tax credit for Morris, Essex, Sussex counties and the rest of New Jersey
- 05/25/10 03:07 AM
Legislation that would create a tax credit for home purchases made in 2010 was approved Thursday by the Assembly. The bill would establish the New Jersey Homebuyer Tax Credit Program, under the state gross income tax, for home purchases this year. The program would offer refundable tax credits for up to $15,000 or 5 percent of the home purchase price, whichever is less. The home purchased must be used as the taxpayer's principal residence for three years after the purchase date. The tax credits would be capped at $100 million - with $75 million allocated for new-home purchases and $25 million … (1 comments)
homebuyer: The Few, the Proud, the New Jersey Homebuyers Entitled to a 1 year Extension on the First Time Homebuyer Tax Credit
- 04/20/10 02:50 AM
As the homebuyer tax credit winds down to its April 30th end date, there is a group of people that will continue to be eligible for another year! That is correct, members of the U.S. Armed Forces and certain federal employees that have served overseas for a minimum of 90 days in the past year in a half are eligible for the tax credit for an additional year. An eligible Armed Forces taxpayer must go under contract on the purchase of a home by April 30, 2011, and close on the purchase by June 30, 2011! So while many are seeing … (2 comments)
There is no way to predict the bottom of the market. If I had a crystal ball maybe, but I don't. So what makes me say that now is a great time to buy? Prices are down and so are rates, add a large inventory to the mix and you have a great trifecta. You want more, how about the large number of "cash" transactions in the market. I have spoken with many realtors recently that are getting cash offers on their listings. Why is that such a big deal? Cash offers mean investors. The investors are getting in the market … (0 comments)
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