As you may have heard, the real estate industry received a big win today when President Obama signed two important pieces of legislation into law.

The first one extends the closing deadline for the homebuyer tax credit until September 30, 2010, for any transactions that had ratified contracts in place as of April 30, 2010, but have not yet closed. Previous blog was about the Senate approval...Now that the President has signed it is official naitionally. Real estate agents working with buyers who fit into this category, please let them know about the extended deadline.

In addition, the National Flood Insurance Program, which provides flood insurance to homeowners in participating communities in flood-prone areas who could not otherwise obtain coverage due to cost or ineligibility, was also extended until September 30, 2010. As a result, buyers in these areas can now obtain mortgages and transactions can move forward. This bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension.

If you or anyone you know is interested in purchasing real estate, please:
Contact Clara at 856-264-1058

FREE: Find home values in your neighborhood...Click on Home Values link

Senate Passes Home Buyer Tax Credit Extension

Recently the United States Senate approved an amendment to HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010, which would extend the homebuyer tax credit closing date deadline from June 30, 2010 to September 30 2010.

The amendment applies only to purchasers who have satisfied the April 30 binding contract rule for the $8,000 & $6500 tax credits and creates no new eligibility. Before the Senate bill can be sent to the president for final approval, it must be reconciled with the House legislation. (Source NAR/NJAR)

Thinking about Selling, Leasing, or Buying?

For all your real estate needs

Call CLARA at 856-264-1058

Home Buyer Tax Credt Extended and Improved!

Moments ago, President Obama signed a bill to extend unemployment insurance benefits. The bill also created a new tax credit that applies not only to first-time buyers, but to existing homeowners who have lived in their residence for at least five years. The credit for first-time buyers remains at $8,000, and is $6,500 for eligible repeat buyers.

In addition to including move-up buyers, the new tax credit also contains many improvements over the existing one. These include higher income thresholds and two different tax credit deadlines -- one for getting under contract and one for closing the transaction.

This legislation is significant, and will give the housing industry the additional support we need to keep the real estate recovery going.

For more info:
http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

Now is the time to BUY and SELL property.

OPEN THIS WEEKEND - Come By:
330 Whethersfield Dr, Glassboro NJ 08028
313 Alfred Ave, Glassboro NJ 08028

For SALE:
320 Chestnut, Woodlynne NJ
206 Mercer, Gloucester City NJ
117 Slack Ave, Lawrenceville, NJ (55+ only)

Call Clara Today 856-264-1058

320 Chestnut Ave - Woodlynne NJ

This home is the perfect opportunity to become a homeowner/invester. Open House Sunday 10-11-2009 1-4pm.

10 Reasons to BUY THIS Home:


1. As a homeowner you get a mortgage less than what you might pay for rent.

2. You get to write off the interest on your loan each year...money back that you wouldn't get as a renter.

3. If this is your first home, you are eligible for the first time homebuyer tax credit.

4. You can decorate it any way you choose.

5. You will live on a quiet street with great neighbors.

6. You will have your own front and back yard for entertaining

7. You will be near transportation for easy commutes to Philadelphia, North Jersey, AC or NY.

8. You will have a home to call your own and have a legacy to leave your family.

9. When you decide to purchase your next home, you can rent it out for positive cash flow...or

10. You can sell it in the future and make a profit.

320 Chestnut Ave OPEN HOUSE

Sunday, OCTOBER 11, 2009

1pm - 4pm

(2BR Row Town Home w/Hard wood floors/Formal DR/Basement/front & back yards)

If this date does not work for you, Call Clara for an appointment -

856-264-1058

PS. The first phase clean out is complete and the interior painting is in progress.

Funds Available to Buy Your First Home

New $8,000* Tax Credit
For 2009, Congress has enacted an $8000 credit specifically to help first-time homebuyers. To qualify, you can earn no more than $75,000 as an individual or $150,000 as a married couple that files a joint tax return. If you do qualify, you will be able to deduct the full $8,000 from your federal tax liability. Or, if you owe less than $8,000, the government will subtract the amount you owe from $8,000 and send you a check for the difference.

Only first-time homebuyers who purchase their principal residence on or after January 1, 2009 and before December 1, 2009 are eligible. You will also be considered a first-time buyer if you have not had any ownership interest in such a home in the three years previous to the day of your 2009 purchase.

Keep in mind that, due to mortgage approvals, inspections and other steps in the buying process, you’ll need to be under contract to purchase soon in order to meet the tax credit closing date deadline. For detailed information about the tax credit, click on, First Time Home Buyers Tax Credit.

Call Clara to assist you with your next home purchase 856-264-1058

Tax Credit Deadline Fast Approaching

The combination of the $8,000 tax credit and affordable home prices has created one of the best times in recent memory for first-time buyers to purchase a home. Yet, those who want to take advantage of the tax credit have virtually no time left to spare.


It's now-or-never for first-time buyers, who must get under contract quickly in order to close in time to meet the Nov. 30 deadline for the $8,000 tax credit.

Call Clara today at 856-264-1058 for more information.

Also be sure to check the value of homes in your area...

Click on the link to your right.