New Stimulus Package Signed Into Law - JEAN VILLA, Weichert Realtors - 908-319-9556

 

Written by Jean Villa, Agent in Stewartsville February 18, 2009 6:05 PM Home Buying in 08886 No comments 31 views

President Obama signed the American Recovery and Reinvestment Act into law Tuesday afternoon. The $787 billion plan is designed to stimulate consumer spending and create jobs, in order to help families recover and prosper.

Realizing that an economic recovery is contingent upon improvements in the housing market, the package includes provisions that will help attract first-time buyers, reduce inventory, stabilize home values and improve liquidity in the overall mortgage market.

The bill specifically helps real estate in the following ways:

- Increases the first-time homebuyer tax credit to $8,000 and eliminates the repayment requirement.

- Reinstates the 2008 higher loan limits for FHA, Fannie Mae and Freddie Mac.

Both provisions were championed by the National Association of Realtors (NAR), which estimates that the new version of the homebuyer tax credit could stimulate up to 300,000 additional home sales.


If you know anyone who may be interested in moving or if you are considering making a move, I'd be happy to help. Please feel free to call or email me.

Want to purchase a home?  There are alot of houses / homes for sale in Stewartsville, Greenwich Twp, Bloomsbury, Lopatcong, Asbury, Bethlehem Twp, Milford, Holland Twp, Clinton NJ and more?

Yes, alot of nice homes for sale in Warren & Hunterdon Counties.  Looking for any horse properties, contact me and I can set you up a search.

See the homes on http://www.RealEstateRoute78.com. Contact me for showings.

Sincerely,

Jean Villa
Sales Representative
Weichert Realtors®
cell: (908) 319-9556
email: JVilla@Weichert.com
web: http://www.JeanVilla.com


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