Archive for the 'NJ First Time Home Buyers' Category
February 2010 This Month in Real Estate
February 8th, 2010 Categories: Buying a Home in NJ, NJ First Time Home Buyers, Real Estate News
Who is buying real estate along the Midtown Direct Communities?
First time home buyers have until April 30th
to be Under Contract and then must close by June 30th.
Are you ready?
Want to learn more about the towns along
the Midtown Direct Train line into NYC?
Contact Perri K. Feldman
973.650.4727
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2010 Real Estate Shows Optimism
January 23rd, 2010 Categories: Buying a Home in NJ, NJ First Time Home Buyers, Real Estate News
Real Estate is local.
We all know that.
But it is nice to see that Optimism is Back for 2010 Real Estate.
I was recently at a Real Estate convention in NYC and here is what the “experts” had to say:
Ha Ha, yes that’s me!
Enjoy!
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First Time Home Buyer Tax Credit Extended…
November 5th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Mortgage Update, Real Estate News
IT’S OFFICIAL!!!!….
THE TAX CREDIT HAS BEEN EXTENDED AND EXPANDED
Well…almost…
(President Obama still has to sign it, which he will)
Per Martin Straka, Mortgage Loan Officer with Bank of America:
On Thursday afternoon (11/5/090 the House of Representatives voted to pass the legislation extending the Tax Credit and Unemployment Benefits (HR 3548).Homebuyer Tax Credit: H.R. 3548 extends the $8,000 tax credit for first-time homebuyers for five months, from November 30, 2009 to May 1, 2010. In addition, the bill provides a $6,500 tax credit for homebuyers that are not first time buyers, but have owned a primary residence at least five consecutive years in the last eight years.
The bill would cap the eligibility for the credit on homes that cost $800,000 or more and raises the current income limit from $75,000, or $150,000 in the case of a joint return, to $125,000 or $225,000. H.R. 3548 waives provisions to recapture the credit for military, intelligence, and Foreign Service personnel who are on qualified official duty and extends the tax credit for an additional year for those on qualified extended duty overseas for 90 days or more since 2008.
The full $8,000 tax credit will be available to qualified First Time Home Buyers (FTHB), defined as not having owned their “Principal Residence” within the past 36 months. This means that even if you have owned a vacation home or an investment property, you may still qualify for the FTHB Tax Credit. The amount of the Tax Credit is 10% of purchase price up to a $80,000 purchase price and then the total is capped at $8,000.
In the past few months, the Tax Credit has inspired many home buyers to stop waiting for “the bottom” of the housing market and to act now to take advantage of the great home prices in conjunction with near record low interest rates.
For those of you that like to read the details If you prefer, give Martin Straka a call at 973.598.5006 or email Marty
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2009 Housing Tax Credit Ends in Ninety Days
August 30th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, NJ Mortgage Update
You only have three more months
to take advantage of the 2009 Housing Tax Credit.
Still Confused as to whether you qualify?
There are still many opportunities to purchase an affordable home
along the Midtown Direct Train line in New Jersey.
If you want additional information about real estate in
South Orange, Maplewood,Millburn/Short Hills,
Summit, Chatham, Madison, Livingston or West Orange…
Contact Perri K. Feldman @ 973.650.4727
or Perri@MidtownDirectHomes.com
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Home Buyer Tax Credit Ends Dec 1st
June 23rd, 2009 Categories: NJ First Time Home Buyers, NJ Mortgage Update, Real Estate News
Did you know that the Home Buyer Tax Credit can now be used for closing costs with FHA-approved lenders?
But ”first-time home buyers” only have until December 1, 2009 to purchase their principal residence to take advantage of the credit.
The National Association of Realtors (NAR) has a very valuable website: http://www.housingmarketfacts.com/ with easy to understand question and answers for first-time New Jersey home buyers.
With historically low interest rates today (yes we are seeing them start to creep up!) and affordable housing prices in the key Midtown Direct communities of South Orange, Maplewood, Millburn/Short Hills, Summit, Chatham, Madison, Montclair, Glen Ridge and Westfield, as well as Livingston, West Orange and Springfield…
NOW IS THE TIME
FOR FIRST TIME HOME BUYERS
TO TAKE ADVANTAGE OF
NEW JERSEY HOME OWNERSHIP!!!
New Jersey Homes for Sale
Contact Perri K. Feldman for more information
about Homes for Sale Along and Adjacent to the Midtown Direct Train.
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How is the Madison NJ Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Madison Living, NJ First Time Home Buyers
There are a lot more homes on the market
in Madison, NJ than last year…
22 more (90 vs 68)!
But the good news is…22 homes are under contract at an average list price of $895,342.
The even better news, is that homes are selling both under $600,000 and over $1,000,000+
6 Under $500,000
5 $501,000-$600,000
2 $601,000-$700,000
2 $701,000-$900,000
2 $901,000-$999,999
5 $1,000,000+
Madison is a beautiful community, rich in history with two Universities and a newly renovated train station that makes the 5o minute train ride into Manhattan via the Midtown Direct even that much more enjoyable.
Want to learn more about buying a home and living in Madison, New Jersey? Contact Perri K. Feldman @ 973.650.4727.
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How is the Livingston NJ Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Livingston Living, NJ First Time Home Buyers
The Livingston NJ Real Estate Market is Heating Up!
Forty homes have gone Under Contract in the past month.
The average list price of these homes is $611,694.
Ten Homes are in Attorney Review
with an average list price of $506,399.
What does this mean for Livingston, NJ home buyers?
With pretty much the same number of homes on the market as last year (158) and the average price of all homes on the market in Livingston at $870,195, this is the time to buy your first home at a Great Price in a terrific community.
Homes under $600,000 are being gobbled up:
7 Under $400,000
10 $401,000-$500,000
9 $501,000-$600,000
3 $601,000-$700,000
3 $701,000-$800,000
5 $800,000-$999,000
3 $1,000,000+
Want to learn more about Livingston, NJ Real Estate? Call Perri @ 973.650.4727 or email at Perri@MidtownDirectHomes.com.
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How is the South Orange Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, South Orange Living
South Orange, NJ currently has 134 homes for sale
at an average list price of $621,361.
Homes have been on the market on average 98 days.
So what priced homes are selling in South Orange, New Jersey?
Twenty-Three homes went Under Contract
in South Orange, New Jersey this past month.
3 Under $300,000
8 $301,000-$400,000
2 $401,000-$500,000
2 $501,000-$600,000
5 $601,000-$700,000
2 $701,000-$999,999
1 $1,000,000+
The average list price of those homes was $506,300 and they were only on the market for 69 days on average.
How does that compare to last year? Pending sales are down about 18% from the same time period in 2008.
What does that mean for home buyers in South Orange? With historically low interest rates and terrific prices, now is a great time to buy a home in South Orange. Call Perri @ 973.650.4727 or email to learn first hand about South Orange real estate for sale.
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How is the Millburn/Short Hills Real Estate Market?
June 19th, 2009 Categories: Buying a Home in NJ, Millburn & Short Hills Living, NJ First Time Home Buyers
At lunch yesterday after the Center Court Member Guest,
I was asked
How is the Millburn/Short Hills Real Estate Market?
Houses are moving after a sluggish early spring,
especially if they are priced right!
And, what priced houses are moving?
In the past month, 35 homes have gone under contract at all different price points
5 Under $500,000
6 $501,000 to $750,000
4 $751,000 to $999,999
11 $1,000,000 to $1,499,999
5 $1,500,000-$1,999,999
4 $2,000,000+
Short Hills Median List Prices are falling whereas Millburn Median List Prices are holding pretty steady.
Want to learn more about the Millburn/Short Hills Real Estate Market? Call Perri K. Feldman @ 973.650.4727 or email Perri@MidtownDirectHomes.com
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South Orange is Still Hot for NYC Commuters
March 27th, 2009 Categories: Buying a Home in NJ, NJ First Time Home Buyers, South Orange Living
South Orange is a Terrific Town
for First Time Home Buyers.
Danielle Elliot writes in South Orange Patch how desirable Midtown Direct Train communities are for NYC transplants.
Perri Feldman, a realtor with the Summit-based Keller Williams, says the sluggish economy hasn’t substantially slowed the trend. At least 80 percent of her clients are from the New York City area. These first-time buyers are looking to put their savings into something solid, hoping that “if they do lose their jobs, they have hopefully created a nest egg with the house.”
A nest egg that has never been so affordable. “To say that now is the time to buy is an understatement. Historically, prices and interest rates have never been this low, and first-time homebuyers want to jump in feet first. The $8,000 credit doesn’t hurt either,” said Feldman, referring to the credit available to first-time home buyers via the Obama stimulus package.
There’s also a contingent of would-be buyers fresh from digesting grim news about the economy who house-hunt with the expectation that they can find a home for a fraction of what they would have paid two years. But Feldman says they’ve been largely disappointed, and local sellers have resisted dropping their prices by large amounts.
“Along the Midtown train line is the hottest place to be,” she said. “People are low-balling, but sellers aren’t budging.”
Patch has been slowly adding communities to their local news sites: Maplewood, South Orange, Millburn with Scotch Plains, Summit and Westfield coming soon.
Want to learn more about Homes and Towns along the Midtown Direct Train? Call Perri @ 973.650.4727 or email Perri K. Feldman about your Midtown Direct Real Estate Needs.
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