Maria Sacco Handle

Maria Sacco Handle received Short Sale and Foreclosure Certification

Maria and Joe Handle — Thu, 18 Feb 2010 21:11:00 GMT

Maria Sacco Handle Earns NAR Short Sales and Foreclosure Certification

Buyers and Sellers Benefit from REALTOR^® Expertise in Distressed Sales

Brigantine, NJ, 2/12/2010 — Maria Sacco Handle with Prudential, Fox, and Roach has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS^® offers the SFR certification to REALTORS^® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS^® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS^® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR^® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS^® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS^Òare required to take one core course and three Webinars. For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.

Time is Running Out! Don't miss out on $8K. Your Questions Answered Below...

Maria and Joe Handle — Tue, 16 Feb 2010 05:37:00 GMT

The First Time Home Buyer Tax Credit is going to expire soon. Are you going to let $8,000 slip away?

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

Recent news:
IRS Releases Revised Tax Forms, Instructions for Claiming Tax Credit (Jan. 25)
Economists' Podcast: Lawrence Yun Discusses Market Recovery, the Tax Credit, and Employment (Jan. 12)
Economists' Commentary: Existing-Home Sales and the Tax Credit (Dec. 22)

Who Qualifies for the Extended Credit?

First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:

The price of the home.
The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale

December eNewsletter

Maria and Joe Handle — Tue, 08 Dec 2009 04:27:00 GMT

Rent/Lease Reduced on B1-26 S. Vassar Square in Ventnor

Maria and Joe Handle — Mon, 23 Nov 2009 10:12:00 GMT

Ventnor, Ventnor City - Announcing a rent/lease reduction on B1-26 S. Vassar Square, a 1 bath, 2 bdrm apartment. Now $1,000 USD Monthly - Reduced!!!.

Property information

Rent/Lease Reduced on A-3707 W. Brigantine Ave. in Brigantine

Maria and Joe Handle — Mon, 23 Nov 2009 09:54:00 GMT

Brigantine, Atlantic County - Announcing a rent/lease reduction on A-3707 W. Brigantine Ave., a 2 bath, 3 bdrm bi-level. Now MLS® $1,800 USD Monthly - Luxury Year Round Rental!.

Property information

New Jersey Voters Elect New Governor

Maria and Joe Handle — Tue, 10 Nov 2009 13:16:00 GMT

On Tuesday, November 3, 2009, Chris Christie was elected as the 55th Governor of New Jersey. The Governor-Elect will be sworn in to office in January 2010. For information on where Governor-Elect Christie stands on issues of importance to REALTORS^®, view his answers to a NJAR^® questionnaire in the October 2009 issue of New Jersey REALTOR^® magazine. The feature article will provide information regarding the Governor-Elect's stance on issues important to the real estate industry that he will face beginning in January, including property taxes and the realty transfer fee.

In addition, elections were held for the entire New Jersey General Assembly, two seats in the State Senate and numerous county and local offices around New Jersey. When the new session of the State Legislature convenes in January 2010, the Democrats will control 47 seats in the General Assembly and the Republicans will control 33 seats. In the State Senate, the Democrats will have 23 seats and the Republicans will have 17 seats. To view election results from around New Jersey, visit the New Jersey Division of Elections website.

President Signs Legislation to Extend and Expand Tax Credit

Maria and Joe Handle — Tue, 10 Nov 2009 13:05:00 GMT

On Friday, November 6, 2009, President Obama signed HR 3548 or "The Worker, Homeownership, and Business Assistance Act of 2009," a bill that extends unemployment benefits and includes an amendment to also extend and expand the federal tax credit. The New Jersey Association of REALTORS^® (NJAR^®) anticipates that the newly signed legislation will help maintain the recent momentum seen in the New Jersey real estate market and spur the state's economy as a whole. The legislation will extend the $8,000 first-time home buyer tax credit past its original November 30 deadline, and it will now be available through April 30, 2010. Additionally, existing homeowners who have lived in their homes for at least five consecutive years out of the last eight will be eligible for a credit that can total $6,500. For further details on the new tax credit amendment, including income limits and additional eligibility requirements, visit www.REALstoryNJ.com/Home-Buyer-Tax-Credit and read NJAR^®'s press release. NJAR^® would like to thank members for their continued support which helped pass this critical legislation.

courtesy of NJAR.com

Price Reduced on 3200 Ocean Ave. in Brigantine

Maria and Joe Handle — Tue, 03 Nov 2009 12:30:00 GMT

Brigantine, Atlantic County - Announcing a price reduction on 3200 Ocean Ave., a 2 bath, 4 bdrm duplex. Now MLS® $899,900 - Reduced!.

Property information

Price Reduced on 1214 W. Brigantine Ave. in Brigantine

Maria and Joe Handle — Wed, 07 Oct 2009 08:34:00 GMT

Brigantine, Atlantic County - Announcing a price reduction on 1214 W. Brigantine Ave., a 1,800 sq. ft., 1 bath single story. Now MLS® $49,900 - REDUCED!.

Property information

Townhouse For Sale in Inlet

Maria and Joe Handle — Wed, 07 Oct 2009 08:11:00 GMT

Ocean Views!

• 1,800 sq. ft., 2 bath, 3 bdrm townhouse - MLS® $324,900 - Best Priced Oceanside II

Inlet, Atlantic City - Water Views Make this the best buy in Atlantic City's inlet! Seven Years Young... This Twin boasts Kempes Cherry Hardwood floors through the whole house, upgraded tiled bathrooms, like new - move in condition! Great location - End Unit with balcony and porch! One block to beach, one block to Gardener'sBasin and Marina. Home still has 2-10 Warranty plus an AHS Home Warranty on all appliances and systems! One owner - never rented! Must see! Easy toShow!

Property information

Price Reduced on 2605-1515 Boardwalk #2605 in Downtown

Maria and Joe Handle — Sat, 26 Sep 2009 11:32:00 GMT

Downtown, Atlantic City - Announcing a price reduction on 2605-1515 Boardwalk #2605, a 1 bath other. Now MLS® $174,900 - .

Property information

Price Reduced on 2903-1515 Boardwalk #2903 in Downtown

Maria and Joe Handle — Sat, 26 Sep 2009 11:23:00 GMT

Downtown, Atlantic City - Announcing a price reduction on 2903-1515 Boardwalk #2903, a 1 bath other "Fabulous Ocean Views!". Now MLS® $174,900 - What a Steal!.

Property information

Townhouse For Sale in Brigantine

Maria and Joe Handle — Tue, 08 Sep 2009 14:50:00 GMT

Views, Views, Views and more Views!

• 2,103 sq. ft., 2 bath, 3 bdrm townhouse - MLS® $774,900

Brigantine, Atlantic County - BREATHTAKING DIRECT WATERFRONT VIEWS FROM 3 DECKS IN THIS END UNIT BAYFRONT BEAUTY UNLIKE ANY OTHER. Extra Large AndersonSliding Glass Doors open onto upgraded fiberglass decks with new vinyl railings. Upgrades galore with a 2 Zone Heating System, Exterior Deck Lighting,Private Entrance, Wet Bar, Garage, Fresh New Paint, Instant Hot Water Faucet, Vented Draft Hood Island Stove and more. Enjoy the amenities this condohas to offer: BOAT SLIP, DOCKS, NEW BULKHEAD, POOL, OFF STREET PARKING! Must See!

Property information

Price Reduced on 118 Lincoln Drive in Brigantine

Maria and Joe Handle — Thu, 20 Aug 2009 18:22:00 GMT

Brigantine, Atlantic County - Announcing a price reduction on 118 Lincoln Drive, a 1,432 sq. ft., 1 bath, 3 bdrm 2 story. Now MLS® $319,900 - REDUCED TO SELL!.

Property information

NAR Summary July 2009

Maria and Joe Handle — Thu, 20 Aug 2009 16:57:00 GMT

National Summary (U.S.)

Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of REALTORS^®.

The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82.0 in February, and is 1.1 percent higher than March 2008 when it was 83.7.

Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. "This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment," he said. "We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around."

NAR's Housing Affordability Index² remained near record highs. The affordability index was 166.7 in March -- down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8 percentage points higher than a year ago. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tracking began in 1970.

The Pending Home Sales Index in the South rose 8.5 percent to 93.2 in March and is 7.7 percent above a year ago. In the West the index increased 3.9 percent to 93.1 and is 1.7 percent higher than March 2008. The index in the Northeast fell 5.7 percent to 59.5 in March and is 24.1 percent below a year ago. In the Midwest the index slipped 1.0 percent to 82.3 but is 8.2 percent higher than March 2008.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the increase in buying power is quite remarkable. "Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment," he said. "For buyers who've been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today's market are unique."

A median-income family, earning $61,100, could afford a home costing $291,600 in March with a 20 percent downpayment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small downpayments are roughly 80 percent of that amount. The affordable price was notably higher than the median existing single-family home price in March, which was $174,900.

# # #

¹The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

²The Housing Affordability Index is a relative index where a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced existing single-family home, taking into account the relationship between median home price, average effective interest rate for loans closed on existing homes, and median family income. The higher the index, the better housing affordability is for buyers.

The calculation assumes a downpayment of 20 percent and a qualifying ratio of 25 percent of gross income for mortgage principle and interest payments. The index is a general gauge with conditions varying widely around the country. Affordability conditions are lower for first-time buyers with smaller downpayments and less income.

Monthly publication of the index began in 1981 with annual data calculated back to 1970.

The National Association of REALTORS^®, "The Voice for Real Estate," is America's largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate