You can NOT use the tax credit as a down payment

DON'T BE FOOLED!!!! AS OF TODAY you can NOT use the tax credit for a down payment

Yes there has been a lot of discussion about this topic but it is NOT an option currently. Those statements were made by the SECRETARY of HUD yesterday and a HUD/FHA letter was published on the website Monday night.

BUT……..the new DIRECTOR of HUD pulled that Mortgagee letter this morning and is no longer even available on the HUD website.

Here is the link to all Mortgagee Letters:

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/

Notice ML 09-15 has been pulled.

This theoretical program is now off the table

Making Home Affordable Allows Modification of Second Mortgages

Making Home Affordable Allows Modification of Second Mortgages
On April 28, 2009, the Treasury Department announced expansion of the Making Home Affordable Program to help reduce payments on second mortgages. The Obama Administration took this action because as many as 50 percent of all at-risk borrowers have second mortgages and without modifying them the borrowers remain at a higher risk of default. Under the Second Lien Program, if the servicer initiates a Home Affordable Modification on the first mortgage, participating servicers will automatically reduce payment on the second lien in accordance with complex, but uniform, program criteria. As an alternative, servicers may extinguish the second lien in exchange for receiving a lump sum payment. For more details, read the Treasury Department's press release.

TLC Casting Buyers and Sellers for Moving Up

TLC Casting Buyers and Sellers for Moving Up
Cable network, The Learning Channel (TLC), is currently casting for its hit series Moving Up, hosted by Doug Wilson. Producers are looking for buyers and sellers who are under contract and planning to move in June. Interested candidates must still occupy their current home. Buyers moving into a home that is already vacant are not eligible. Both residences must be within 45 minutes of Manhattan.

The series follows a chain of homeowners as they go through the renovation and/or redesign process in their new home. Moving Up offers the former homeowners the rare chance to visit their once beloved homes and see all of the new changes. Opinionated consumers who demonstrate compelling ideas to alter the house are preferred.

Contact Jodi Friedman at (212) 974-9050, ext. 125 or JFriedman@bbcnyproduction.com if you or someone you know would be a good fit for the show.

Northeast home sales drop 8 percent

Northeast home sales drop 8 percent, prices fall, in March, Realtors say
- The Star Ledger (4/23/2009)
"Prices have fallen 15 percent to 20 percent here since June 2006, and New Jersey real estate analyst Jeffrey Otteau said he expects the eventual damage to hit 24 percent. He said he expects prices to keep falling at a rate of 1 percent a month."
Click to Read Full Story

71% Think now is a good time to buy

GALLUP POLL: Americans See Buyers’ Market in Housing
Seventy-one percent think now is a good time to buy a house

by Dennis Jacobe, Chief Economist, Galluphttp://www.gallup.com/poll/117586/Americans-Buyers-Market-Housing.aspx

PRINCETON, NJ -- Plunging housing prices combined with historically low interest rates have persuaded 71% of Americans that now is a "good time" to buy a house -- up 18 percentage points from a year ago and the highest level of housing-purchase optimism in four years.

Asbury Park Considering New Parking Plan

Asbury Park Considering New Parking Plan

On April 22, 2009, the Asbury Park City Council will consider a parking plan prepared by the Asbury Park Parking Advisory Committee similar to a proposal considered but not enacted in 2008 in the Borough of Point Pleasant Beach.

This plan calls for a combination of meter and permit parking in the beachfront area. NJAR®, along with the Monmouth County Association of REALTORS® and South Monmouth Board of REALTORS®, oppose this proposal as it increases the cost to live in and visit Asbury Park.

Encore of First-Time Home Buyer Tax Credit Webinar – April 27

Encore of First-Time Home Buyer Tax Credit Webinar – April 27

Due to popular demand, NJAR® will be hosting a second free webinar for members and the public on Monday, April 27 at 2:00 p.m. titled Get the REAL StorySM on the First Time Home Buyer Tax Credit.

Linda Goold, director of federal tax programs for the NATIONAL ASSOCIATION OF REALTORS® (NAR), will discuss how home buyers can take advantage of the federal first-time home buyer tax credit, how it functions, and how purchasers can claim it. NJAR® will begin the webinar with information on the newly redesigned website, www.REALstoryNJ.com, along with details on the revamped Get the Real StorySM public education campaign focusing on the benefits of New Jersey's real estate market.

Reserve your space for the encore presentation of Get the REAL StorySM on the First Time Home Buyer Tax Credit today. The address for viewing the webinar will be http://njar.acrobat.com/tc042709.

Great News for Homeowners and Realtors Selling Houses in Oceanport...

Oceanport Approves New Sign Ordinance
After hearing concerns that the Borough of Oceanport did not allow the placement of open-house directional signs, REALTORS® from the Monmouth County Association of REALTORS® (MCAR) and NJAR® began working with the Mayor and Council in Oceanport to request a change in their sign ordinance.
On April 16, 2009, the Oceanport Borough Council approved an ordinance permitting the placement of two temporary, directional signs in the public right-of-way advertising an open house. In addition, as was the case under the previous ordinance, one temporary sign is allowed on the property being sold. Under the new ordinance, no sign can block a site triangle or have any attachments such as balloons that can obstruct a driver's view.
This is great new for homeowners and Realtors where the houses were more inland and not of the main road this way people driving by can find the house even if they did not see the ads

Correction Re Monmouth Tax Appeals

Please accept my apologies for stating incorrect information about Monmout County tax appeals. I read my tax card incorrectly and spoke to people who corrected me.
What I read was regarding tax revaluation. Some town in our county are being revalued and this applied to that.
I have deleted the post so there is no further confusion.
The tax appeal date deadline is every year no matter what April 1st.
I am sorry if I have caused any confusion , that was not my intent.

As an aside BEWARE of people telling you that they can get you a tax appeal or tax reduction now. I have been informed that there are people out there taking advantage of people.

Again my apologies.

Tax Credit for Ford Hybrids Begins Phase-Out

WASHINGTON — The tax credit for hybrid passenger automobiles and light trucks manufactured by Ford Motor Company has begun to phase out for purchases made after March 31, 2009.
Taxpayers may claim the full amount of the credit only on purchases made before April 1, 2009, because the total number of vehicles sold reached the 60,000 vehicle threshold in the last quarter of 2008. The cumulative sales of qualified Ford hybrid vehicles sold from the period of Jan. 1, 2006, to Dec. 31, 2008 is 66,157.
For vehicles purchased for use or lease on or after April 1, 2009, and on or before Sept. 30, 2009, the credit is 50 percent of the full amount. For vehicles purchased for use or lease on or after Oct. 1, 2009, and on or before March 31, 2010, the credit is 25 percent of the full amount. For vehicles purchased for use or lease on or after April 1, 2010, no credit is allowable.
The full credit amount for vehicle purchases made prior to April 1, 2009 is:
2005, 2006, 2007 Ford Escape 2WD, $2,600;
2008, 2009 Ford Escape 2WD, $3,000;
2005, 2006, 2007, 2009 Ford Escape 4WD, $1,950;
2008 Ford Escape 4WD, $2,200;
2010 Ford Fusion, $3,400;
2008, 2009 Mercury Mariner 2WD, $3,000;
2006, 2007, 2009 Mercury Mariner 4WD, $1,950;
2008 Mercury Mariner 4WD, $2,200;
2010 Mercury Milan, $3,400

Related link:
N-2009-37 - Phase-out of Credit for New Qualified Hybrid Motor Vehicles and New Advanced Lean Burn Technology Motor Vehicles

Fannie Mae Issues Guidelines for Loan Limits in High Cost Areas

Fannie Mae Issues Guidelines for Loan Limits in High Cost Areas
On March 20, 2009 Fannie Mae Issued Announcement 09-08, implementing the 2009 conforming loan limits for high cost areas (known as high-balance loans), like New Jersey. Through the American Recovery and Reinvestment Act of 2009 (ARRA), loan limits on mortgages secured by Fannie Mae were increased. Loan limits from Fannie Mae are limited to $417,000 to $729,750, depending on the county where the home is located and the loan program. The guidelines instituted in the announcement apply to loans delivered to Fannie Mae starting May 1, 2009.
Loan must be conventional, first-lien mortgages only.
One to four unit properties are eligible.
Loans must be fixed-rate or adjustable rate loans (no balloons).
Loans must meet loan-to-value (LTV) and minimum credit score requirements. For one unit properties with a fixed rate mortgage, the maximum LTV is 90 percent. The minimum credit score is 700 for LTVs above 75 percent and 660 for LTVs at or below 75 percent. For one unit properties with an adjustable rate mortgage, the maximum LTV is 75 percent and the minimum credit score is 680. For second homes and investment properties, the maximum LTV is 65 percent and the minimum credit score is 740. Other rules apply to other categories. See HUD's website for details on local loan limits and get more information regarding the Federal Housing Administration (FHA) on our FHA page.

State Budget Hearings Underway

State Budget Hearings Underway
In preparation for the Fiscal Year 2010 budget process, the New Jersey Senate and Assembly budget committees continue to meet while the remainder of the Legislature is on recess. The New Jersey Constitution mandates that a balanced budget be in place by July 1.
During this week's budget hearings, the nonpartisan Office of Legislative Services (OLS) revealed that state revenue will be $605 million less than what Governor Corzine projected last month in his budget address. OLS also released estimates that indicate the realty transfer fee will produce less revenue in fiscal years 2009 and 2010 combined than it yielded in 2006; the last year the fee was increased.
Reacting to the new revenue projections, NJAR® issued a press release explaining how the downturn in realty transfer fee collections shows that high taxes on real estate have a detrimental impact on the state economy.

Top Relocation Destinations 2008

Allied Van Lines have released their annual survey of top relocation destinations.

1. TEXAS tops the list for the 4th year in a row iwth 1903 in bound
2. North Carolina with 800 inbound
3. Virginia with a gain of 398

Biggest Losers:

Michigian
Pennsylvania
no surprise New Jersey
Illinois

World's Most Expensive Real Estate

Global Property Guide's 2009 List of the world's most expensive real estate is:

1. Monte Carlo $45,000 per square metre( = .8361 square yard)
2. Central Moscow $20,853 per square metre
3. London $20756
4. Tokyo $17,998
5. Hong Kong $16,125
6. New York $14,898
7. Paris $12,122
8. Singapore $9,701
9. Rome $9,166
10. Mumbai $9,163

For more info you can visit www.globalpropertyguide.com

Thoughts on Home Staging

It is a quick, intensive house make over that creates a theater for the home buyer. Staiging is a hybrid of advertising and marketing, which carefully designs the house to appeal to the statistically probable buyer.
Stagers create a property to appeal to the buyers not how they live NOW but how they aspire to live.
Homes that have been staged get faster market attention, sell rapidly for a higher price, are more organized and make the moving process lerss stressful for the seller

Call for Full Restoration of the Property Tax Deduction

In his budget address on March 10, 2009, Governor Jon Corzine called for a one-year suspension for all non-senior households, regardless of income, to deduct property taxes from their state tax filings. Reacting to overwhelming public angst, Governor Corzine recently adjusted his budget plan to include the restoration of the property tax deduction for senior citizens and households earning up to $150,000.
Although the partial restoration of this critical deduction is a step in the right direction, NJAR® still needs your help! Governor Corzine still has plans to eliminate property tax rebates for everyone except senior citizens and households who make less than $75,000. Given current economic conditions, this is the worst possible time to propose any legislation that undermines the basic foundation of homeownership.
Take action by participating in NJAR®'s new letter-writing campaign calling for the full restoration of the property tax deduction. Additionally, encourage your clients, friends and family to send a public letter to lawmakers.

Most Active Towns in 2008 with Condo Sales

January 200891 Sold Condos by TownAverage Condo SOLD price$339,279
Most Active Town in Condo Sales1.Long Branch 122.Freehold 113.Howell 10
February 2008107 Sold Condos by TownAverage Condo SOLD price$316,498
Most Active Town in Condo Sales1.Tinton Falls 162.Freehold 113.Long Branch 9
March 2008107 Sold Condos by TownAverage Condo SOLD price$294,969
Most Active Town in Condo Sales1.Freehold 162.Middletown 113.Tinton Fall 11
April 2008115 Sold Condos by TownAverage Condo SOLD price$325,691
Most Active Town in Condo Sales1.Manalapan 152.Freehold 153.Howell 11
May 2008 139 Sold Condos by TownAverage Condo SOLD price$334,763
Most Active Town in Condo Sales1.
Long Branch192. Tinton Falls 163. Manalapan 11
June 2008 131 Sold Condos by TownAverage Condo SOLD price$338,278
Most Active Town in Condo Sales1.Long Branch 16
2.Tinton
Falls163. Freehold Twshp. 15
July 2008132 Sold Condos by TownAverage Condo SOLD price$317,337
Most Active Town in Condo Sales1. Freehold Twshp 192. Tinton Falls 153.
Long Branch 11
August 2008127 Sold Condos by TownAverage Condo SOLD price$316,986
Most Active Town in Condo Sales1. Tinton Falls 152. Freehold Twshp. 123.
Long Branch 11
Sept 2008134 Sold Condos by TownAverage Condo SOLD price$304,534
Most Active Town in Condo Sales1. Tinton Falls 172. Howell 163.
Long Branch 14
Oct 2008131 Sold Condos by TownAverage Condo SOLD price$ 332,915
Most Active Town in Condo Sales1. Manalapan 142. Freehold Twshp 123.
Asbury Park10
Nov 200856 Sold Condos by TownAverage Condo SOLD price$ 284,781
Most Active Town in Condo Sales1. Tinton Falls 92. Freehold Twshp. 83. Manalapan 6
Dec 2008 79 Sold Condos by TownAverage Condo SOLD price$ $297,218
Most Active Town in Condo Sales1.
Middletown2.
Asbury Park3. Manalapan

236 Fair HAven Rd, Fair HAven NJ

Testing my new wida angle lens during my open house at 236 Fair Haven Rd. NJ. Lot's of people coming to this open house because we dropped the price 10,000 to $479,000 and as a result I am hoping someone will definitely put pen to paper.

It is interesting to see how much more you can get with a wide angle lens. I also tested my tripod in standing postion as well as holding it with my hand to see if I still jiggle and as you can see no jiggling.

there does seem to be a little distortion but not alot of fish eye which I was afraid of. You do get a good sense of the rooms.

Direct: (732) 245-4031 Issue # 178

In This Issue:
This Month's Free Offer
Home Selling Question
Just Sold!
Just Listed! Do you know of a Buyer for this house?&bsp;
Thank YOU for YOUR Referrals

Welcome To The Latest Issue and Hello again.

Who's The Largest Private Landowner In The U.S.?
I've heard McDonalds, the Catholic Church, and TIAA-CREF. But according to Wikipedia, Ted Turner owns more land than any other American and uses much of it for ranches to re-popularize bison meat (for his Ted's Montana Grill chain), amassing the largest herd in the world.

Top 10 U.S. Cities For Technology Wired Magazine surveys the top cities in the country for technology. The places that if you want to geek out, you will find true happiness. Criteria included: proximity to top-ranked engineering schools, tech jobs per capita, Geek2Geek Dating Service postings, Craigslists postings, Dorkbot attendees (), availability of free wifi, comic book stores per capita, and Circuit City stores per capita. As you can see, this is not the most scientific of lists, but in it's own sort of way, it probably is fairly accurate. So without further ado, here are the…
The Top 10 Cities For Technology (and Geeks):
Seattle, WA
San Francisco, CA
Los Angeles, CA
Austin, TX
Orlando, FL
Raleigh–Durham, NC
Pittsburgh, PA
New York City, NY
Boston, MA
Washington DC
FREE MLS Online Search For A Monmouth County Homes To search for a home right now, click here: http://www.swiftpage3.com/SpeClicks.aspx?X=2V0P9FXZHQP20DFC01YWWX
This Month's Free Offer: Five Easy Steps To Selling Your Home After serving your neighbors 10 years, I know selling your home is a big deal. Many people just aren't clear how to start. To make it easy for you, here are 5 simple and easy steps to get your questions answered and get on the right track…
1. Call me at (732) 245-4031 We'll chat by phone a few minutes and answer all your questions. Take me for a "telephone test drive" to see if you're comfortable. If not, just tell me "don't call me, I'll call you," and I won't call you. I promise.
2. Get a free, quick, over-the-phone estimate of your home valueEven if you follow nearby sales, it's hard to know the value of YOUR home, so let's get that handled. (If you want a more accurate figure, just invite me over to see your home.)
3. Get a list of easy, fix-ups for your home I know simple things to increase your home value…
4. Free sit-down consultation & game planGet the details on how I sell so many homes for clients. Let's figure out your timing and a step-by-step game plan for selling and possibly buying another home. Know I'll always "give it to you straight": no empty promises or flattering you with a high price you won't get. Good, honest advice.
5. Take the plunge, but with a life-preserverPerhaps we'll decide to work together. Signing a listing contract is a big decision, so let's take the pressure off. You'll have the right, in writing, to cancel our agreement for any reason.
If this makes sense and you like my approach, let's talk… Call me at (732) 245-4031. I look forward to your call!
Send This Free Newsletter To A Friend Subscribe them with a quick email to TellAFriend@GloriaB.com with their email address in the subject line.
Remember to email your questions, comments, compliments, corrections, critiques, &rebuttals to Questions@GloriaB.com .
Home Selling Question
"How does the home sale tax exemption work?"
Answer:Under current IRS Code Section 121 rules, if you've owned & lived in your home for 2 of the past 5 years (730 of the past 1826 days), you can sell and exclude up to $250,000 of your gain if you're a single, or $500,000 for couples.
NOTE: There are MANY exceptions that allow you to sell & avoid gain without having owned/lived in for the 2 years.Please verify the above with your favorite tax professional.
Just SOLD!23 6th Avenue Atlantic HiglandsDetails
JUST LISTED! Oceanport $419,000More Details
Cute as a Button 2 bedroom 2 bath Must SEE! Beautifully renovated 2 bedroom, plus office, 2 bath house, in the Great town of Oceanport. Many extras: decorative molding, hardwood and ceramic tile floors, recessed light, built-ins, updated eat-in kitchen with granite counters and stainless steel appliances, butlers kitchen w/laundry room. Beautiful lot with fenced yard and deck. High efficiency furnace & central air system, new windows and doors. Low taxes. Contingent upon owners firm relocation.
Thank You For Your Referrals
Thank you Mr. & Mrs. Ciambrone for referring your son to buy a home
Have a great week,
Gloria Benaroch 10 Years Experience Broker Associate --- Coldwell Banker, Rumson NJ(732)245-4031 Gloria@GloriaB.com -- http://www.swiftpage3.com/SpeClicks.aspx?X=2V0P9FXZHQP20DFC04YWWX
If a friend would enjoy this enewsletter, forward it to them. To subscribe, email Subscribe@GloriaB.com with "subscribe" in the subject line.
Due to production and shipping expense, free items are available only to residents, owners, and people planning to purchase real estate in Eastern Monmouth County.
This free e-newsletter tells you how to be more successful with your real estate transactions. You receive it because you subscribed, entered your email address at my site(s), or were referred. By reading it, you agree you: 1) understand this is opinion & not advice; 2) will seek professional tax, legal, and real estate advice; 3) are solely responsible for use of content, 4) hold Gloira Benaroch-Garland, and Coldwell Banker Residential Brokerage harmless. Questions may be paraphrased for clarity/brevity. Disregard this email if you have a listing or buyer-broker agreement..
Copyright 2009 Gloria Benaroch, All Rights Reserved.

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42 Riverside Oceanport NJ

42 Riverside Ave Oceanport
Back on the Market.