Browse >
Home / Archive: March 2009
March 24, 2009 |
Leave a Comment
Former President Bush signed into law a measure giving tax breaks to homeowners who have mortgage debt. Under preexisting law, the debt forgiven by a lender(such as short sales and refinances) was generally taxable to the borrower as debt discharge income. In the passage of the Mortgage Forgiveness Debt Relief Act of 2007, a taxpayer does not have to pay federal income tax on debt that’s been forgiven for a loan secured by a qualified principal residence.
This tax break applies to debts discharged from January 1, 2007 to December 31, 2009. Qualified principal residence indebtedness is debt incurred in acquiring, constructing, or substantially improving the residence (up to $2 million for refinances).
For purposes of calculating capital gains, any debts discharged excluded from income under the new law must be subtracted from the basis of the taxpayer’s principal residence (but not below zero). However, taxpayers may generally exclude from capital gains income up to $250,000 (or $500,000 for married couples filing jointly) for properties owned and used as their principal residence for at least two of the last five years.
Disclaimer: this is merely a informational article and should not be considered an advise, consumer should always look for a professional in law and or income taxes for advise.
Posted by
Administrator | Filed Under
Blog
March 23, 2009 |
Leave a Comment
|
Elifas Oliveira | Fidelity/NJ realtors | 908-241-0700
|
|
32 WILSHIRE DR, Kenilworth, NJ
|
|
OPEN HOUSE NOVEMBER 02,2008 1-4 PM!!
|
|
|
3BR/1BA Single Family House
|
|
offered at $369,000
|
| Year Built |
1950 |
| Sq Footage |
Unspecified |
| Bedrooms |
3 |
| Bathrooms |
1 full, 0 partial |
| Floors |
2 |
| Parking |
1 Car garage |
| Lot Size |
Unspecified |
| HOA/Maint |
$0 per month |
DESCRIPTION
| Great opportunity, affordable home excellent location close to Cranford Union County College & park, this home offers a warm and friendly atmosphere w/ its extlarge park a like lot next to a stream, flood insurance may be required |
|
|
| see additional photos below |
|
|
|
|
|
|
|
ADDITIONAL PHOTOS
 Photo 1 |
 Photo 2 |
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
Fidelity/NJ realtors
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 2, 2009, 2:25pm PST
|
|
Posted by
Administrator | Filed Under
Blog
March 23, 2009 |
Leave a Comment
|
Elifas Oliveira | Fidelity/NJ realtors | 908-241-0700
|
|
236 DELAWARE AVE, Union, NJ
|
|
Nice home w/ corner lot good condition bus to NYC, hardwood floors & carpet, basement is partially finished with family room full bath and summer
|
|
|
3BR/2BA Single Family House
|
|
offered at $307,000
|
| Year Built |
1950 |
| Sq Footage |
Unspecified |
| Bedrooms |
3 |
| Bathrooms |
2 full, 0 partial |
| Floors |
2 |
| Parking |
1 Car garage |
| Lot Size |
5,501 sqft |
| HOA/Maint |
$0 per month |
|
|
| see additional photos below |
|
|
|
|
|
|
|
ADDITIONAL PHOTOS
 Photo 1 |
|
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
Fidelity/NJ realtors
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 2, 2009, 2:24pm PST
|
|
Posted by
Administrator | Filed Under
Blog
March 23, 2009 |
Leave a Comment
|
Elifas Oliveira | Fidelity/NJ realtors | 908-241-0700
|
|
676 LEXINGTON RD, Union Twp., NJ
|
|
OPEN HOUSE NOVEMEBR 02, 2008 1-4 PM!!
|
|
|
3BR/1.5BA Single Family House
|
|
offered at $365,000
|
| Year Built |
1940 |
| Sq Footage |
Unspecified |
| Bedrooms |
3 |
| Bathrooms |
1 full, 1 partial |
| Floors |
2 |
| Parking |
1 Car garage |
| Lot Size |
Unspecified |
| HOA/Maint |
$0 per month |
DESCRIPTION
| DeepPRICE REDUCTION Charming home inviting brigth living room w/ fire place, formal dining & additional family room featuring cathedral ceiling/sky lights updated kitchen hard wood floors large rooms ALL OFFERS ARE WELCOME AND TO BE PRESENTED IN PERSON, READY FOR A QUICKLY CLOSING , EASY TO SHOW |
|
|
| see additional photos below |
|
|
|
|
|
|
|
ADDITIONAL PHOTOS
 Photo 1 |
 Photo 2 |
 Photo 3 |
 Photo 4 |
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
Fidelity/NJ realtors
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 2, 2009, 2:25pm PST
|
|
Posted by
Administrator | Filed Under
Blog
March 20, 2009 |
Leave a Comment
|
Elifas Oliveira | Fidelity/NJRealtors | 908-241-0700
|
|
138 FOREST ST, Kearny Town, NJ
|
|
ENJOY NY VIEW FROM YOUR DECK IN THIS MAGNIFICENT COLONIAL! OFFERS 3 BDRMS , LR, FDR, EIK W FRENCH DOORS TO DECK. IMPRESSIVE HW FLOORS AND WOODBURNIN
|
|
|
3BR/1BA Single Family House
|
|
offered at $289,000
|
| Year Built |
Unspecified |
| Sq Footage |
Unspecified |
| Bedrooms |
3 |
| Bathrooms |
1 full, 0 partial |
| Floors |
Unspecified |
| Parking |
None |
| Lot Size |
Unspecified |
| HOA/Maint |
$0 per month |
|
|
| see additional photos below |
|
|
|
|
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
Fidelity/NJRealtors
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 3, 2009, 1:28pm PST
|
|
Posted by
Administrator | Filed Under
Blog
March 20, 2009 |
Leave a Comment
|
Elifas Oliveira | Fidelity/nj realtors | 908-241-0700
|
|
299 BEECH ST, Kearny Town, NJ
|
|
Beautiful 2 family in Arlington Section. Selling “as is” condition. Buyer responsible for C.O. and inspections. Subject to short-sale. Tim
|
|
|
3BR/1BA Multi-Family, 2 units
|
|
offered at $299,000
|
| Year Built |
Unspecified |
| Sq Footage |
Unspecified |
| Bedrooms |
3 |
| Bathrooms |
1 full, 0 partial |
| Floors |
2 |
| Parking |
1 |
| Lot Size |
.07 acres |
| HOA/Maint |
$0 per month |
|
|
| see additional photos below |
|
|
|
|
|
PROPERTY FEATURES
 Basement |
|
|
|
|
|
|
|
ADDITIONAL PHOTOS
 Photo 1 |
 Photo 2 |
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
Fidelity/nj realtors
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 3, 2009, 1:43pm PST
|
|
Posted by
Administrator | Filed Under
Blog
March 20, 2009 |
Leave a Comment
|
Elifas Oliveira | Fidelity/NJ Realtors | 908-241-0700
|
|
29-31 Berkeley terrace, Plainfield City, NJ
|
|
THIS METICULOUSLY MAINTENED HOME IS WAITING JUST FOR YOU
|
|
|
3BR/1BA Single Family House
|
|
offered at $220,000
|
| Year Built |
1931 |
| Sq Footage |
Unspecified |
| Bedrooms |
3 |
| Bathrooms |
1 full, 0 partial |
| Floors |
2 |
| Parking |
2 |
| Lot Size |
.18 acres |
| HOA/Maint |
$0 per month |
|
|
| see additional photos below |
|
|
|
|
|
PROPERTY FEATURES
| Balcony, Deck, or Patio |
Yard |
|
|
|
|
|
|
ADDITIONAL PHOTOS
 Photo 2 |
 Photo 1 |
 Photo 3 |
 Photo 4 |
 Photo 5 |
|
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
RE/MAX Fidelity
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 20, 2009, 2:02pm PDT
|
|
Posted by
Administrator | Filed Under
Blog
March 20, 2009 |
Leave a Comment
|
Elifas Oliveira | RE/MAX Fidelity | 908-241-0700
|
|
26 LORETTO ST, New Brunswick City, NJ
|
|
DON’T MISS THIS OPPORTUNITY, MUST SEE!!! SUBJECT TO BANK APPROVAL… PRESENT ALL OFFERS… COMMISSION IS SUBJECT TO BANK APPROVAL
|
|
|
5BR/2BA Single Family House
|
|
offered at $259,900
|
| Year Built |
Unspecified |
| Sq Footage |
Unspecified |
| Bedrooms |
5 |
| Bathrooms |
2 full, 0 partial |
| Floors |
2 |
| Parking |
None |
| Lot Size |
.17 acres |
| HOA/Maint |
$0 per month |
|
|
| see additional photos below |
|
|
|
|
|
ADDITIONAL PHOTOS
Photo 1 |
|
|
|
|
|
|
Contact info:
|
|
|
Elifas Oliveira
|
|
Fidelity/NJ Realtors
|
|
908-241-0700
|
|
For sale by agent/broker
|
|
|
|
|
|
|
|
|
|
Posted: Mar 20, 2009, 2:21pm PDT
|
|
Posted by
Administrator | Filed Under
Blog
March 19, 2009 |
Leave a Comment
The Union County Teen Arts Program is sponsored by the Union County Board of Chosen Freeholders and presented by the Union County Office of Culture and Heritage Affairs/Departments of Parks and community Renewal. For more information about this or other TeenArts events, call the office at (908)558-2550
Posted by
Administrator | Filed Under
Blog
March 19, 2009 |
Leave a Comment
Real Estate contracts 101-
As a real estate broker, I completely understand how complex the real estate transaction can be to a person buying a home. No one explained to them the 411 of buying a home and they are left with no choice but to learn the process as it goes on without knowing what to expect. It can be VERY frustrating.
Today I would like to start with a series of information on how this complex purchasing process is done here in north New Jersey.
Lets assume you fell in love with a home and you want to buy it. The first thing you should do is make a contract to purchase the home. Most people are not at ease in signing a real estate contract which is several pages long and in a technical language most people are not accustomed too. The contracts are approved by the board of Realtor and the real estate commission. There is also a clause called the Attorney Review Clause which gives the buyer and the seller the peace of mind to sign it and within 3 business days, an attorney will review the terms of the contract and will do either two things to it. Cancel it or make changes on it on your behalf.
It is designed in that specific way so that realtors only fill in the terms and price of the purchase on the contract to initiate the process. Finalizing the contract could take about a week and during this time period, either party could change their minds and walk away from the deal.
See, it’s not that hard!
Posted by
Administrator | Filed Under
Blog
Next Page »
