The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers. $8,000 First-time Home Buyer Tax Credit at a Glance •The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. •The tax credit does not have to be repaid. •The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. •The tax credit applies only to homes priced at $800,000 or less. •The tax credit now applies to sales occurring on ... 11/17/2009

  Last week ended up on the positive side with a gain of 12/32nds on 30 year Fannies which is a noticeable change on a rate sheet. That makes 3 positive weeks in a row. Over all we have been in a tight range all year with hic ups along the way. I expect more of the same in the near term as Uncle Sam will continue to buy mortgages as necessary to calm the market down. So far Uncle Sam has purchased over $800 Billion in Mortgage backed securities and that number is expected to rise to $1 Trillion by time they step out of the mortgage market in early 2010. This buying has been the Fed's way of keeping rates low since they have no way of dropping Fed funds any lower. It is not likely we will see the Fed even consider an upward move in rates until the end of the 2nd quarter of 2010, at least... 11/16/2009

On November 6th, 2009, President Obama signed, into law, legislation extending and expanding the Homebuyer Tax Credit. What does this mean for "First Time Home Buyers"? What does this mean for "Move Up" Buyers? Let's see, shall we: CLICK HERE to watch our latest video on the HOMEBUYER TAX CREDIT! Combined with "historically" low mortgage rates, an abundance of inventory and lower home prices (in general), the NAR may actually be telling the truth; "there NEVER has been a better time to buy."  Or, in the very least; there may NEVER be an OPPORTUNITY to buy a home like this again! 11/11/2009

   Last week ended up being a pretty flat week with a few bounces along the way.  The highlight of the week was Fridays Employment report that was quite a bit worse than expected. It did not cause a big improvement as one would have thought, it really only served to wipe out losses from earlier in the week and for the week we were only 3/32nds to the positive side on Fannies which is pretty much an unchanged week. This week has its bumps and grinds to deal with as well, here is what we have in store: Monday November 9: First Treasury Auction of the week with $40 Billion in 3 year notes. This Auction went off as expected at about 1pm with strong bidding. It ended up being a market neutral event and Fannies are trading slightly to the positive side. TuesdayNovember 10: Auction #2 with $25... 11/09/2009

Monthly Real Estate Market Report for Toms River, NJ - October 2009 October by the numbers:  •·        70  The number of Single Family Homes CLOSED during the month  •·        $382,092  Average LIST price for October*  •·        $356,125  Average SALES price for the month*  •·        120  Average DAYS ON the MARKET for October  •·        93.20%  The SALES price to LIST price RATIO for the month  •·        737  Number of Single Family Homes ACTIVE on the market in October  •·        10.52 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!  October 2009, saw 70 Single Family Homes CLOSE in Toms River, as compared with 58 in October of 2008.   THIS MARKS THE FOURTH MONTH IN A ROW; WHERE SA... 11/06/2009

  Last week had its share of fairly large up and downs, but ultimately we ended up with a pretty decent gain for the week with Fannies trading up 19/32nds by the close on Friday... That translates to a noticeable improvement in Mortgage rates last week (but some bumps and bruises along the way) Most of the improvement in Mortgages was due to the sell off in the stock market. Well this week has its share of challenges. Here is this weeks calendar: MondayNovember 2: (can you believe it is November already??) October Institute of Supply Mgt was expected at 53.0. Well we lost about 7/32nds today. which is not a good way to start the week! Tuesday November 3: DON'T FORGET TO VOTE! Tuesday: September Factory Orders expected up 1%. Not likely to do much more than take up space on this page. Tu... 11/02/2009

FHA Streamline Refinancing FHA Financing has become more popular again due to the tightening of lending standards, & the evaporation of the subprime lending market.  One of the benefits of obtaining an FHA loan is the ability to reduce your interest rate at a later date at relatively low cost, if market rates improve after you get your initial FHA loan.  Although some new restrictions are on the horizon, a streamline refinance is still a wonderful tool to help lower your monthly mortgage payments.  If you have an existing FHA loan, & are current, & you believe your interest rate is at least a half percentage point higher than the current market rate, then a Streamline Refi may be a good deal for you.  Streamline refi's can be done relatively quickly, & with a lot less paperwork than ge... 10/28/2009

  The last 3 weeks have not been good ones for the Mortgage world. Last week was a crazy up and down week that ended up only slightly negative by the close on Friday, but bumpy enough along the way that it left many feeling queasy. almost every day last week had some VERRRRY negative moments but the market was able to come back to almost even each day. The initial sell off a few weeks ago that has rates up now was mostly because of stocks jumping above the 10k mark. This piece of positive news was not taken well in the credit markets. and if you read any of my blogs on the subject, you will know that Good News is BAD news for interest rates. This weeks calendar is a busy one: MondayOctober 26: Treasury auction of $7Billion 5 year IIS. This is an inflation indexed security so it is typic... 10/26/2009

COMPLIMENTS OF ANTHONY BARONE-BROKER SALESPERSON with Re/Max at Barnegat Bay for a Virtual tour go to   http://www.visualtour.com/show.asp?T=2014446  Click Photo for Additional Media and Enlargement   Status: Active (10/3/2009) Cat:SF MLS#: 20937754md Type: Detached ListPrice: $349,500 County: Ocean ApxYrBlt: 1964 Muni: TOMS RIVER TWP ApxSqFt: 1,600 SqFt Postal 42 PATMAS DR Rooms: 10 Address: TOMS RIVER, NJ 08755 Bedrooms: 3 Area/Sec: WEST DOVER Baths: 1/1 Cmplx/Sub: SILVER RDGE EST Levels: 1 ParcelID: 00507-0036-00012- Bsmt: Y LotSz/Acr: /0.285 FP/#: Y/ ElemSch: WEST DOVER Garage: Y/2 Car MiddleSch: TR INTR SOUTH WF: N HighSch: T.R.HIGH SOUTH WV: N OthElem: ST. JOSEPHS WtrTyp:   OthHigh: MNSGR DON Handicap: N: Style: Ranch   Model: EXTRAORDINARY LsePurch:   Zoning: Neighbor, Resident ... 10/19/2009

 Finally, some good news in the form of relaxed guidelines.  This is some great news. PMI Companies have caused many of the guideline changes we have experienced over the past few years since they were not willing go offer PMI on anything that had risk at all. Just a few weeks ago we got news that we can do 10% down second homes. Here are the requirements: 720 Minimum credit score $417,000 Max Mortgage Even if you don't dabble much in the Vacation Home market, this is a great sign. This news came from one of the more conservative PMI Companies. The fact that they are willing to insure vacation homes shows that they have a renewed confidence in the Real Estate Market. This confidence must mean that they see a stable improving market or they would not add any risk to their portfolios   Ha... 10/15/2009

  I don't even want to talk about last week, but I guess I need to.Friday was a horrific day in the credit markets and fannies lost 29/32nds by the close of business. That was a total loss of 26/32nds for the week. that may not sound like much, but that is an ugly number! WHY? Well it had a lot to do with comments that came from the Fed Chair. Bernake said that the Fed is ready to raise short term rates when they see sustainable growth. Here is the fun part: This is nothing new, this is what he has said over and over this year.. Basically "if we need to we will".  This time the market seems to have taken the words and read between the lines and now think we will see the Fed begin to raise rates in the first quarter of 2010. prior to Friday they seem to have thought things would stay the... 10/13/2009

Neighborhood Alert!!! Extraordinary Silver Ridge Ranch needs a new owner. Take this time to pick your neighbors. If you or someone you know is looking for a new home in our neighborhood please let us know!!!!!          Extraordinary 3 bed 1.5 bath ranch: open floor plan complete w/2 car Gar, fireplace, LR, DR, FR, Gourmet Kitchen w/top of the line appliance package, granite countertops & 42"cabinets, Hardwood and porcelain flooring, Heated IG pool & composite deck featured in the "club med" backyard, newer high efficiency hot water heater and furnace, full basement with a media room + lots of storage. IG sprinkler system on well water. Immaculate home nestled on over 1/4 acre of professionally landscaped paradise! Anthony & Fiona Barone-Re/Max at Barnegat Bay, 1130 Hooper Ave, Toms Rive... 10/07/2009

COMPLIMENTS OF ANTHONY BARONE-BROKER SALESPERSON with Re/Max at Barnegat Bay for a Virtual tour go to   http://www.visualtour.com/show.asp?T=2014446  Click Photo for Additional Media and Enlargement   Status: Active (10/3/2009) Cat:SF MLS#: 20937754md Type: Detached ListPrice: $349,500 County: Ocean ApxYrBlt: 1964 Muni: TOMS RIVER TWP ApxSqFt: 1,600 SqFt Postal 42 PATMAS DR Rooms: 10 Address: TOMS RIVER, NJ 08755 Bedrooms: 3 Area/Sec: WEST DOVER Baths: 1/1 Cmplx/Sub: SILVER RDGE EST Levels: 1 ParcelID: 00507-0036-00012- Bsmt: Y LotSz/Acr: /0.285 FP/#: Y/ ElemSch: WEST DOVER Garage: Y/2 Car MiddleSch: TR INTR SOUTH WF: N HighSch: T.R.HIGH SOUTH WV: N OthElem: ST. JOSEPHS WtrTyp:   OthHigh: MNSGR DON Handicap: N: Style: Ranch   Model: EXTRAORDINARY LsePurch:   Zoning: Neighbor, Resident L... 10/05/2009

September 2009 MARKED the 3rd consecutive month that sales of single family homes, in Toms River, NJ, exceeded the same month of the previous year! Given the fact that this past September also MARKED the one year anniversary of the collapse of FREDDIE MAC and FANNIE MAE, we must acknowledge the influence of the $8,000 Tax Credit for "First Time Home Buyers", despite what some political pundits may believe!September by the numbers: · 61 The number of Single Family Homes CLOSED during the month  · $364,011 Average LIST price for September*  · $342,037 Average SALES price for the month*  · 96 Average DAYS ON the MARKET for September  · 93.96% The SALES price to LIST price RATIO for the month  · 754 Number of Single Family Homes ACTIVE on the market in September  · 12.36 Number of MONTHS i... 10/01/2009

Brokers Open House This Thursday from 11:00am-2:00pm Join us for lunch and refreshments at 3124 Oceanic Dr. Toms River 08753     Amazing 3bed 2bath custom home situated on a double lot with great sub-division potential in a waterfront community.   Presented by Anthony & Fiona Barone with Re/Max at Barnegat Bay and by Dominick Guido with Glendenning Mortgage Corporation. Take Hooper Ave to Fischer Blvd then go (L) on Oceanic right after the light at Windsor Ave. If your lost just call Tony @ 732-674-1590 09/29/2009

 Whats happening to Mortgage Rates this week? Last week was an overwhelmingly "happy" week for mortgages after an unchanged day on Monday we ended up with a gain of 29/32nds in Fannies by time the closing bell rang on Friday. This is mostly because word leaked out that The Fed stimulus will not abruptly stop as we originally thought in October. It is more likely to taper off over the next few quarter... Great news since Uncle Sam will stay in the market as a buyer. This week is a busy one with everything crunched into a few days at the end of the week. Here is what we have on the schedule: Monday and Tuesday September 28 & 29th: No News days. In the absence of any news we have continued on last weeks rally with the market up 7/32nds as we approach the close. Wednesday, September 30: fin... 09/28/2009

Courtesy of Rick Deluca, the following information illustrates the impact a single existing home sale has on the economy. Further evidence that until the housing market recovers, the economy cannot recover!Perhaps you've heard about how a home sale impacts the local economy in many ways.  Well, here is a study completed you may find useful.  The Economic Impact of an Existing Home Purchase: The National Association of Realtors® estimates that each home sale at the median generates $63,101 of economic impact (2008). Impact of Single Existing Home Purchase Median Price $198,100 Real Estate Industries Furniture Multiplier New Housing Total $ 17,829 + $ 5,331 + $ 11,117 + $ 28,825 = $ 63,101              Real Estate Industries: We assume that commissions, fees, and moving expenses, or incom... 09/28/2009

APPLYING FOR A MORTGAGE?  HERE'S WHAT NOT TO DO So, you've decided to buy a home, congratulations! Whether you are putting a lot down or a little, or whether you are going to use an FHA or VA loan, or seek conventional financing, there are a few items you may want to take note of & try to avoid doing anything that may harm your chances before making any moves.  I will attempt to list as many as I can, & perhaps the Active Rain Community can chime in with anything I may have missed. First, a little background.  Loan decisions are based on numerous factors, some of which are FICO score, employment history, income documentation, payment history, debt ratio, & more.  You may already have everything you need in place, but perhaps feel that you should make some changes, to 'pretty up' your in... 09/27/2009

  To my closest clients family & friends,  Let me start by saying thank you for all your help and support throughout the years. I am proud to announce that I have affiliated myself with Re/Max & the Children's Miracle Network. As many of you may know I was a multiyear top producing agent in my old company and moved on in my career to obtain my NJ Brokers license and manage 3 different offices in Ocean County at that company with over 100 licensed agents. I have listed some of my accomplishments below. My wife, Fiona, and I have decided to start our own business with Re/Max as they are the largest & most successful real estate company in the world with a great support system and plenty of opportunities; including national and international real estate sales, residential and commercial re... 09/27/2009

NEWS RELEASE                             Media Inquiries: David Siroty                                         Meredith Topalanchik Coldwell Banker Real Estate LLC          CooperKatz & Company 973-496-7199                                       917-595-3036                         David.Siroty@coldwellbanker.com         mtopalanchik@cooperkatz.com     J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION PARSIPPANY, N.J. - Sept. 17, 2009 - Coldwell Banker Real Estate LLC ranked highest among real estate companies in satisfying home sellers according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM. "This recognition is a testament to the brand's legacy as an industry leader, our commitment to innovation and, above all, our p... 09/23/2009