Posted by
admin on Aug 6, 2009 in
Announcements,
Editorial Some of you may have noticed a very long gap in the blog entries. The last one was a couple of months ago and we were experiencing a problem at our end. We couldn’t access our admin site and couldn’t display any of the content. We found out it was a problem with one of the plug-in for Wordpress that we installed. We discovered this on our own after exchanging numerous e-mails with the tech people at our hosting service and the tech people at Wordpress. We kept getting finger pointing at the “other guy”. In the meantime, we posted our blog entries on all other blogs of ours except for this one.
We HAD to get this problems solved because this blog is our main one. All of the others are our secondary blogs. But we’ll be catching up. You will note there are now entries after June 24, 2009. Those are the ones that we started to update this blog with. We entered the original dates on these blogs in order to keep the flow consistent.
So, now the main blog is up and running…and it is improved! If you scroll down and look along the right sidebar you’ll see a new feature addition. The new feature is the ability to subscribe via SMS Text Messaging to recieve updates whenever we add a new blog post. This is only available on this blog. It is not on any of our secondary blogs.
So, be sure to come back often to see the updates and new content as we add it.
Terry Iwaniw
REALTOR Associate
R & I Realty, LLC
Off: 856-795-3111 x263
Cell: 609-417-1086
http://www.snewjerseyhomes.com/
http://snjrealestate.ning.com
Connect On Facebook – http://profile.to/terryiwaniw
Tags: blog fix
Posted by
admin on Mar 26, 2009 in
Announcements Demand Full Restoration of Property Tax Deduction.
Governor Jon Corzine, to a joint session of the New Jersey Legislature, called for a one-year suspension of property tax deductions on state income taxes for all non-senior households, regardless of income. Responding to overwhelming public opposition, he recently changed direction and adjusted his budget proposal to include the restoration of the property tax deduction for senior citizens and households earning up to $150,000. The partial elimination of the property tax deduction is just a third of the triple whammy for homeowners under this budget plan. Households who make more than $75,000 are slated to lose their property tax rebates. Additionally, educational and municipal aid, which is used to offset property taxes, is either being frozen or cut. As the leading advocate for homeowners and the real estate industry in the state, the New Jersey Association of REALTORS (NJAR) is calling for the full restoration of the crucial deduction. Even a partial elimination of the property tax deduction undermines the basic foundation of homeownership.
In a state where the average homeowner pays more the $7,000 in property taxes it is unconscionable to balance the budget on the shoulders of property owners. All concerned citizens are encouraged to keep fighting for the complete restoration of the property tax deduction. Tell lawmakers that tax deductions residents receive from owning a home are powerful incentives to get people into the housing market. Encourage decision makers to look for ways to boost the real estate industry as a way to jumpstart our economy. Let Trenton know skyrocketing property taxes threaten New Jersey’s economic well-being.
Take action NOW!
Tags: corzine, deductions, homeowners, property tax deductions, property taxes
Posted by
admin on Feb 20, 2009 in
Announcements The American Recovery and Reinvestment Act of 2009, H.R. 1, was signed into law by President Obama on February 17, 2009. A couple of key npoints that were supported by REALTORS® and The National Association of REALTORS® were:
- 1. $8,000 first-time home buyer tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. View a chart detailing this provision.
- 2. Commercial real estate provisions, which focus on green building and energy efficiency as well as business tax incentives. H.R. 1 provides significant funds for New Jersey energy programs, which in turn, could help support commercial property owners’ investment in energy efficiency upgrades.
This is the perfect time to buy your next home. Besides the additional tax credits (they net against your current tax liability – if you owe money, this credit reduces that amount and if you have money being returned to you, this increases the amount you have coming), home prices are at their lowest in decades, and interest rate are at a point where they cannot go anywhere but UP.
This has also reinstated the higher loan limits for Federal Housing Administration (FHA), Fannie Mae and Freddie Mac. View the newly approved loan limit estimates. Lastly, you may want to view an outline of the Homeowner Affordability and Stability Plan, which President Obama announced on February 18, 2009 designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages.
Tags: American Recovery and Reinvestment Act, first time home buyers, home buyers, loan limits, obama, tax credit, tax credit for buyers
Posted by
admin on Feb 18, 2009 in
Announcements,
Mortgages 
I just read a news article that both Fannie Mae and Freddie Mac are planning on toughening up their credit score and downpayment rules. As of April 1, they will implement new guidelines for loans backed by them. The new guidelines will require buyers that are putting down less then 25% for a downpayment to be charged a penalty of 3/4 of a point (a point equals 1% of the loan amount). It won’t matter what the buyer’s credit score is, if they are putting less then 25% down for a mortgage loan, they will be penalized 3/4 (0.75%) of a point.
Buyers of duplexes, where one unit is owner-occupied and the other is rented, will be charged a 1 percent add-on as a penalty, while those who are refinancing their homes and who plan to take cash out will be charged as much as three points if they have a low to moderate equity stake in their homes.
Many major lenders are already factoring in these higher fees, which reduces the effectiveness of the stimulus efforts. Brad German, Freddie Mac’s spokesman, said that the loan categories & credit risk combinations targeted by these fees “default at four to eight times” the rate of other mortgages that were backed by Freddie Mac. The reason for these fees, according to German, “We have to manage these risks appropriately,”.
So, if you are seriously planning to buy a home, this may be an ideal time to make that offer on that special home, get under contract, and settled before your mortgage loan includes these new fees and charges. If you haven’t found that new home, yet…don’t delay! Call us NOW at 609-417-1084 so we can help you find that special new home in record time and get you moved in.
Linda & Terry Iwaniw
REALTOR Associates
First Time Home Buyer Specialist
Marketers of HUD Owned Homes
ReSales & Investment Realty, LLC
856-795-3111 x263
609-417-1084
http://www.snewjerseyhomes.com/
Tags: buyer credit, buyers, credit, credit risk, Fannie Mae, fees, Freddie Mac, loan defaults, loan limits, mortgage loans, mortgages, points
Posted by
admin on Feb 8, 2009 in
Announcements,
Foreclosures New Jersey has implemented a new initiative called the NJ Judiciary Foreclosure Mediation Program for home owners who are in foreclosure. NJ is trying to help prevent as many foreclosures in the state as possible. Foreclosures are not a winning solution for any of the parties in today’s economy. The home owners don’t want to lose their homes, the banks don’t want any more asset on their books that will take months to dispose of (at a substantial loss, probably), and the municipalities don’t want the vacancies and loss of property tax revenues.
So, if you’re one of the NJ home owners currently facing foreclosure, check out our web site that outlines the different options you have (the sale of your home is NOT the only option you have) besides waiting for foreclosure. We also have details on the NJ Judiciary Foreclosure Mediation Program.
Tags: foreclosure, Foreclosures, new jersey foreclosures, stopping foreclosures
Posted by
admin on Feb 5, 2009 in
Announcements,
Buying,
Housing The housing industry should get a big boost from the latest addition to the stimulus bill that is working its way through the Congress. On Wednesday, Senators approved a proposal that would give home buyers a tax credit of 10% of the value of new or existing residences, up to a $15,000 limit. The current law, that was passed last year, provides for a $7,500 tax break and only for first-time homebuyers.
Sen. Johnny Isakson, (R-Georgia) said “It is time to fix housing first.” Isakson’s office said the proposal would cost the government an estimated $19 billion. In all, the stimulus is now topping an estimated $920 billion.
President Barack Obama, in an op-ed that appears in Thursday’s Washington Post, painted a dire picture if Congress fails to move quickly to pass the stimulus bill. “This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse,” Obama wrote in the op-ed titled, “The Action Americans Need.“
Tags: attracting buyers, buyer credit, congress, Housing, housing market, obama, stimulus, tax breaks, tax credit
Posted by
admin on Feb 2, 2009 in
Announcements,
Foreclosures Fannie Mae and Freddie Mac on Friday again extended their moratorium on evictions of borrowers or renters facing foreclosure through Feb. 28. The companies also announced plans to expand rental options after defaults and to develop a new rent-to-own program.
Details of the programs include:
- Month-to-month leases for borrowers and renters;
- Property management companies hired by Freddie and Fannie will set market-value rents;
- Tenants and homeowners will be asked to demonstrate that they have enough money to pay the rent.
“Keeping foreclosed properties occupied and in better repair will support local property values and promote a faster recovery in the housing market,” David Moffett, Freddie Mac’s chief executive officer, said in a statement.
Tags: evictions, Fannie Mae, foreclosure, Freddie Mac, moratorium
Posted by
admin on Dec 24, 2008 in
Announcements I wanted to let everyone know of the great Christmas present I received this year. My grandson, Hayden.
He was born at 7PM tonight and weighed in at 6 lbs, 8 oz. He was born to my daughter and he is definitely a keeper. 
Tags: announcement, christmas eve, family, grandson, hayden, newborn, personal
Posted by
admin on Dec 23, 2008 in
Announcements 
It’s that time of year when we all gather and celebrate the holidays. We and ours would like to wish you and yours a very Safe & Happy Holiday. And we hope that your New Year is as or more prosperous then the previous one.
Terry & Linda Iwaniw
Happy Holidays
Tags: christmas, happy holidays, happy new year, merry christmas, prosperous new year, seasons greetings
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