In the News

First-time homebuyers still have time to claim a tax credit for 2009
Star Ledger
March 3, 2010
Every year, the tax law changes as the government tinkers with deductions and income limits to force taxpayers to sharpen their pencils as April 15 approaches. [Full Story]

HMFA extends its first-time homebuyers 'pre-fund' program
PARSIPPANY LIFE
March 3, 2010
For first-time homebuyers thinking of buying their first home in New Jersey, the combined incentive and mortgage programs from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) and the federal government have never been better. New Jersey residents who plan to buy their first home in 2010 are encouraged to act quickly to take advantage of a program that grants interest-free loans to assist first-time buyers with closing costs or down payments. [Full Story]

First-time homebuyers can take advantage of incentives
Courier Post
February 28, 2010
First-time homebuyers in New Jersey have two legs up in their quest to become property owners. [Full Story]

Selling a home?
Shop Passaic & Morris 
February 27, 2010
There’s a saying, "When the going gets tough, the tough get going." This motto certainly applies to real estate agents who are competing for your attention in these trying financial times. However, regardless of the economy, the real estate business has always been very competitive, said Stephanie Singer, a spokesperson for the National Association of Realtors (NAR). [Full Story]

Does the Home Sale Slump Have You Stumped? Close the Deal With Expert's Tips
ABC News 
February 26, 2010
New home sales are at an all-time low, and the market isn't expected to recover anytime soon. [Full Story]

Northeast Home Sales Up From Year-Ago Levels
New York Times
February 26, 2010
Home sales in the Northeast tumbled from December to January, but were still 17 percent above year-ago levels, the National Association of Realtors said Friday. [Full Story]

Despite Grim News For New Home Sales, Existing Home Sales In NJ Show Growth
WBGO News
February 25, 2010
The US Commerce Department is reporting that new home sales have plunged to a record low, but the New Jersey Association of Realtors says the market for EXISTING homes is experiencing a steady recovery. [Full Story]

President Announces $1.5 Billion Plan to Help Struggling Homeowners
HouseLogic
February 20, 2010
A plan to channel $1.5 billion to housing agencies in five states hit hardest by the real estate crash has Florida officials hopeful they can keep more people in their homes and out of foreclosure. [Full Story]

IRS clarifies documentation needed for tax credits
The Washington Post
February 20, 2010
Despite back-to-back snowstorms that shut federal offices for days, the Internal Revenue Service issued new guidance last week on the two tax-credit programs that are powering the country's real estate markets -- the $6,500 credit for repeat buyers and the $8,000 first-time-buyer credit. [Full Story]

Home prices almost flat in region, sales up strongly in New Jersey
The Press of Atlantic City
February 11, 2010
Home prices in southern New Jersey were almost flat in the fourth quarter of 2009, adding to evidence that they have stabilized, while sales in New Jersey kept climbing and were up 34 percent last year, the National Association of Realtors said Thursday. [Full Story]

North Jersey home prices down 5.5% in fourth quarter 2009, to median $434,000
The Record
February 11, 2010
The housing market’s steep price slide appears to be slowing, according to data released Thursday by the National Association of Realtors. [Full Story]

Home prices in Monmouth and Ocean counties fall 4.7 percent
Asbury Park Press
February 11, 2010
The median price for a single-family home in the area that includes Monmouth and Ocean counties declined 4.7 percent in the fourth quarter of 2009 as the housing market continued to stabilize, the National Association of Realtors said Thursday. [Full Story]

Foreclosures Fall 10% in January, But Remain 15% Higher Than a Year Ago
Daily Finance
February 11, 2010
The good news about real estate is coming in dribs and drabs, camouflaged by an ongoing flow of bad news. According to RealtyTrac, U.S. foreclosure filings fell 10% in January from December, but they remained 15% higher than a year earlier. That means that one in every 409 U.S. housing units received a foreclosure filing in January, which is still quite high.. [Full Story]

Free Webinar for homebuyers in N.J.
Philadelphia Inquirer
February 10, 2010
The New Jersey Association of Realtors is offering a free Webinar on how first-time homebuyers can lock into $8,000 tax credits before April 30, when they are set to expire. [Full Story]

Northeast tops U.S. average in pending home sales
NJ Biz
February 2, 2010
New Jersey and other Northeastern states put up a stronger show than the nation as a whole in pending home sales in December compared to that of a year earlier, according to an index released Tuesday by the National Association of Realtors, in Washington, D.C. [Full Story]

FORECAST 2010: Is real estate turning the corner?
Daily Record
January 31, 2010
Real estate professionals around Morris County agree: If the next 11 months are anything like the last few months, 2010 could be a pretty good year. [Full Story]

Maybe last year wasn't so bad for southern New Jersey's real estate market
Press of Atlantic City
January 31, 2010
The widespread belief that real estate had a terrible 2009 is being disproved by the data for the southern New Jersey market released this week. [Full Story]

Home sales drop beyond expectation
Courier Post
January 26, 2010
Sales of existing homes, plumped up by government incentives in November, melted 16.7 percent in December, the largest month-to-month drop in 40 years. The steep decline, reported Monday by the National Association of Realtors, was worse than the 10 percent drop predicted by economists. [Full Story]

HUD Takes Action to Speed Resale of Foreclosed Properties to New Owners
RISMedia
January 19, 2010
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan recently announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. [Full Story]

Condo developers mix and match
The Record
January 17, 2010
For first-time homebuyers thinking of buying their first home in New Jersey, the combined incentive and mortgage programs from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) and the federal government have never been better. [Full Story]

Prefund provides advance on tax credit refund
The Ridgewood News
January 15, 2010
Condo developers are doing more than crossing their fingers in hopes that their investments will grow in this economy. They have come up with recipes for success — like giving renters the opportunity to lease a luxury condo or auctioning condos off to buyers. [Full Story]

Home sales down; first buys up
Nutley Sun
January 14, 2010
There is widespread agreement that the real estate market will improve this year. Local and national realty forecasts, however, vary considerably regarding when, where and in what segments long-sought growth will appear. [Full Story]