June 04, 2009
How Much Is Your Home Worth, You Ask....
We have added functionality to this website to allow you to submit to us a request to help you determine the value of your home when you decide to sell it. Please visit the "Selling a Home" page when you need this type of assistance. Numerous factors must be evaluated when placing a value on a home for sale.
Posted by: Bruce
Central New Jersey Real Estate
While we can assist you with your housing needs in all of New Jersey, the locations in Central New Jersey highlighted on the map below are the areas of expertise covered by this website. Our office is physically located in West Windsor, NJ, thus it and the surrounding communities of Princeton Boro, Princeton Township, Plainsboro, Cranbury, East Windsor, Hightstown, Robbinsville (formerly Washington Township), Hamilton, and Lawrence are the focus of our discussion of real estate in this area. We have recently extended the reach to also cover Hopewell Township and Hopewell Boro, as well as Ewing Township and Pennington Boro.
This part of the state of New Jersey has homes of all types. We have condominiums, townhomes, twins, and single family homes located in many different types of settings, from mostly rural horse farm type areas to sections that are highly urbanized.
Stimulus Plan Homebuyer Tax Credit
The following is taken from the House Rules Committee website describing the provisions of the stimulus bill on home purchases.
The conference agreement extends the existing homebuyer credit for qualifying home purchases before December I, 2009. In addition, it increases the maximum credit amount to $8,000 ($4,000 for a married individual filing separately) and waives the recapture of the credit for qualifying home purchases after December 31, 2008 and before December I, 2009. This waiver of recapture applies without regard to whether the taxpayer elects to treat the purchase in 2009 as occurring on December 31, 2008. If the taxpayer disposes of the home or the home otherwise ceases to be the principal residence of the taxpayer within 36 months from the date of purchase, the present law rules for recapture of the credit will apply.
The conference agreement modifies the coordination with the first-time homebuyer credit for residents of the District of Columbia under section 1400C. No credit under section 1400C shall be allowed to any taxpayer with respect to the purchase of a residence during 2009 if a credit under section 36 is allowable to such taxpayer (or the taxpayer’s spouse) with respect to such purchase. Taxpayers thus qualify for the more generous national first-time homebuyer credit rather than the D.C. homebuyer credit for qualifying purchases in 2009. No credit under section 36 is allowed for a taxpayer who claimed the D.C. homebuyer credit in any prior taxable year.
The conference agreement removes the prohibition on claiming the credit if the residence is financed by the proceeds of a mortgage revenue bond, a qualified mortgage issue the interest on which is exempt from tax under section 103.
Effective date.-The provision applies to residences purchased after December 31, 2008.
Posted by Bruce -- February 16, 2009
Great for Buyers - Central NJ has a home for everyone. New homes, great resales, condos, and fine estates. Find a great home.
Great Resale Values - This area of New Jersey benefits from a steady influx of new industry, a stable work force, and steady appreciation. How much is your home worth?
Great Investments - We offer many opportunities for the astute real estate investor. Single-units, multi-units, and commercial. Learn more here.
