We just wanted to share a bit of information that may help you or someone that you know..
During what may be difficult economic times for many, it is helpful to know that assistance may be available.
Here are links to services available:
http://www.nj211.org/ This website will provide many different resources from counseling to financial assistance to employment training.
http://www.energyassistance.nj.gov/ The NJ Dept. of Community Affairs website has a link to an Energy Assistance Program which could assist with home heating bills this winter.
http://www.njshares.org/ The NJ Statewide Heating Assistance and Referral for Energy Services is a not for profit organization that may provide up to $1000 for energy assistance to qualified individuals.
http://www.nj.gov/health/seniorbenefits/lifelinedetail.shtml 1(800)792-9745 Lifeline Program may offer up to $225 to people who meet the criteria for PAAD (Pharmaceutical Assistance to the Aged & Disabled) or who receive SSI payments.
http://www.njcleanenergy.com/residential/programs/comfort-partners/comfort-partners Provides free analysis of energy efficiency in your home along with direct installation of some energy efficient items. (Based on income levels)
http://www.newtanksnj.org/about_the_program.aspx This program may provide up to $3000 to upgrade your Heating Oil Tank, leaking or non-leaking, underground or above ground (according to the website).
http://www.mynjhelps.com/ will link you to many of the above resources and more.
While the above items may not apply to you, we would all like to reduce our energy costs. This link will provide you with some cost saving measures that you can take in your own home. http://green.yahoo.com/blog/huddlergreenhome/27/how-to-save-energy-around-the-house.html
Should you need additional information please call our office at 609-390-3400.
Monday, February 23, 2009
Friday, February 20, 2009
How Will the Stimulus Package Affect The Housing Market—and You?
This is a monumental piece of legislation that will directly affect the housing market. I want to share my insights on how I believe it will affect the market so that you can make informed buying and selling decisions.
Homebuyers: Part of the stimulus package gives first-time homebuyers who purchase in 2009 an $8,000 tax credit. "First-time homebuyer" is defined as someone who has not owned a home for the past three years. Combined with the fact that foreclosure filings during January decreased 10% from December 2008 and that some sales in December of 2008 rose 6.5%, we will see prices at the lower end of the price spectrum stabilize. All the really great deals will be snapped up in the next month or two and we should see a price increase in December of 2009 as those who wait will rush to buy before the $8,000 credit is gone.
This will also help clean up some of the problem loans, short sales and foreclosures that have been a drag on home prices.
Three to six months from now we will see this start to move up to a little higher price range and by the end of the year, prices will stabilize in large mid-priced homes. High-end homes will be the last to stabilize sometime in 2010.
If you are thinking about buying, now is the time. Don’t wait and end up wishing you had taken advantage of this opportunity.
Home sellers: If you are selling in the lower price ranges, you should expect to see increased activity and, if your home is reasonably priced, you will get it sold very close to that price.
If you are not at the low end of the market, and do not have to sell, our advice is to wait twelve to eighteen months, you will get a better price. If you have to sell now, price it right and get it sold now as we could still see a drop in value in the mid and high-end price ranges over the next 3 to 6 months.
If you want to talk further about the impact of this stimulus package, give us a call or drop us an email about your situation and we will give you our recommendation. Also check back here on a regular basis for updates on what is happening in our real estate market.
This is a monumental piece of legislation that will directly affect the housing market. I want to share my insights on how I believe it will affect the market so that you can make informed buying and selling decisions.
Homebuyers: Part of the stimulus package gives first-time homebuyers who purchase in 2009 an $8,000 tax credit. "First-time homebuyer" is defined as someone who has not owned a home for the past three years. Combined with the fact that foreclosure filings during January decreased 10% from December 2008 and that some sales in December of 2008 rose 6.5%, we will see prices at the lower end of the price spectrum stabilize. All the really great deals will be snapped up in the next month or two and we should see a price increase in December of 2009 as those who wait will rush to buy before the $8,000 credit is gone.
This will also help clean up some of the problem loans, short sales and foreclosures that have been a drag on home prices.
Three to six months from now we will see this start to move up to a little higher price range and by the end of the year, prices will stabilize in large mid-priced homes. High-end homes will be the last to stabilize sometime in 2010.
If you are thinking about buying, now is the time. Don’t wait and end up wishing you had taken advantage of this opportunity.
Home sellers: If you are selling in the lower price ranges, you should expect to see increased activity and, if your home is reasonably priced, you will get it sold very close to that price.
If you are not at the low end of the market, and do not have to sell, our advice is to wait twelve to eighteen months, you will get a better price. If you have to sell now, price it right and get it sold now as we could still see a drop in value in the mid and high-end price ranges over the next 3 to 6 months.
If you want to talk further about the impact of this stimulus package, give us a call or drop us an email about your situation and we will give you our recommendation. Also check back here on a regular basis for updates on what is happening in our real estate market.
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