The Obama administration is still considering whether or not to extend the “First Home Buyer Tax Credit” which is set to expire on November 30^th 2009.  The tax credit has boosted recent home sales according to recent home sales analysis.  The government is postponing their decision so that they have more time to review the data as to how much the extension of the tax credit will cost.  Senator John Isakson, (R-Georgia), is not only seeking to extend the tax credit but to include and attach “repeat home buyers” to the bill.   On another note, the IRS is in the process of investigating over 107,000 examinations of questionable claims of individuals who have filed for the first time buyer tax credit.  To date, 167 criminal investigations have been identified since the tax credit was enacted. 

As reported AP, cited in Newsday, October 21^st, 2009

Compliments of Irene Lockel, Netter Real Estate

(631) 661-5100 ILockel@NetterRealEstate.com

Call Netter Real Estate Today to Get Your Home SOLD!

(631) 661-5100

(800) 626-7356

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NETTER REAL ESTATE

404 Montauk Highway, West Islip, NY 11795

631-661-5100

800-626-7356

(Source: Daily News - Friday, April, 3, 2009)

Home prices and mortgage rates are as low as they’ve been in years. Put those facts together and you’ve got perfect reasons to buy a home now. And if you are still not sure - here are a few more:

You can move your kids to a better school. At today’s cheap prices, you can get a nicer neighborhood, a better view, a bigger backyard, and the best school. All the things you wanted and couldn’t afford 3 years ago.

You can shop around. After being pre-approved you can feel the joy of being in the “power seat” since it is a buyers market. Just remember - it’s only a buyers market until another buyer enters the picture.

It’s a great time to trade up. If you’ve been wanting a larger home, now’s a great time to trade up. You can sell your home at a steep discount because you’ll be buying your next, larger home at a bigger discount.

All home renovations are on sale! Contractors are more available and willing to negotiate.

You don’t want to be the guy who wished, who should’ coulda. With money so cheap and prices so low, and more houses out there you can get a deal of the century - and these are the good old days we’ve all been dreaming about.

SO WHAT ARE YOU WAITING FOR? CALL OR EMAIL THE JIM NETTER TEAM NOW!!

Irina Renner

Buyer’s Assistant to James A. Netter

Netter Real Estate

631-661-5100 ext 148

irenner@netterrealestate.com

Check out the March Netter Real Estate Video Update for Great Advice for Decorating, Money Saving Tips, and Remedies for Allergy Sufferers!

Netter March Newsletter

 Click on the Image Above for a Full View of the Newsletter!

Some Thoughts on Wealth Building

Ian Spolding, a self-made millionaire, said something fascinating in the conversation about wealth building that we would like to share with you:

“It’s not about addition or subtraction.  It’s about multiplication.  My entire philosophy around money has been this: Once I get money I look for ways to multiply, not just to be added to.  The bigger the multiplier, the better it is.”  It’s all about opportunity to multiply wealth.

Need evidence?  Look no further than Warren Buffet.   He has put billions of personal savings (outside of Berkshire Hathaway funds) into the stock market in the last few weeks.  He stated:  “A simple rule dictates my buying:

BE FEARFUL WHEN OTHERS ARE GREEDY, AND BE GREEDY WHEN OTHERS ARE FEARFUL.”  In our markets, fear is everywhere.

“Let me be clear on one point” I can’t predict the short-term movements of the stock market.  I haven’t the faintest idea as to whether stocks will be higher or lower a month – or a year – from now.   What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up.  So if you wait for the robins, spring will be over,” says Mr. Buffet regarding multiplying wealth.

We often hear questions and statements like:  “Are we at the bottom of the real estate market yet?” or “When is a good time to buy?” or “I am waiting for the market to go down more!”  or “The economy is doing so badly that we will be jobless and homeless soon!”

Think about it again!!!  BE FEARFUL WHEN OTHERS ARE GREEDY, AND BE GREEDY WHEN OTHERS ARE FEARFUL!

When is a good time to buy???   NOW!!!   The opportunities are here and the money is available to borrow!!!  What are you waiting for?

ARE YOU IN A BOAT OR ARE YOU MISSING IT?

The Jim Netter Team

NETTER REAL ESTATE

631-661-5100 x 148  or  irenner@netterrealestate.com  

 www.netterrealestate.com   

G R E A T    N E W S!

The Town of Babylon announced that it will give middle-income families a $15,000 down payment match toward the purchase of their first home!

• Buyers must earn between 81-120% ($77,701-$116,500 for a family of four) of the area’s median income to qualify for the program.
• The home must be purchased in the Town of Babylon.
• The $15,000 will come from a revolving fund that uses money from the town’s affordable housing trust fund.
• This program is unique because while most HUD-funded programs only provide housing assistance to families earning 80% or less of the area’s median income, this program is available to those earning between 81-120% of the area’s median income.
• Buyers must:
  1. Be HUD-defined first-time home buyers.
  2. Occupy purchased home as a principal residence.
  3. Not be in contract to purchase before the start of the program (March 2).
  4. Contribute $15,000 toward the down payment.
  5. Buy a home in Babylon town for up to $396,150.
  6. Participate in the Long Island Green Homes Program, which updates homes’ energy efficiency, within six months of purchase.
  7. Attend a one-time mortgage counseling session with the Long Island Housing Partnership.

FOR MORE INFORMATION ON THIS GREAT PROGRAM CALL

 NETTER REAL ESTATE

631-661-5100

info@netterrealestate.com

As Modified in the American Recovery and Reinvestment Act:

Effective for Purchases January 1, 2009-December 1, 2009

• Maximum Credit Amount Increased to $8,000.
• All Single Family Residence (Including Condos, Co-ops, Townhouses) Used as a Principal Residence are Eligible.
• Reduced (or can eliminate) Income Tax Liability for the Year of Purchase. Any Unused Amount of Tax Credit Refunded to Purchaser.
• Full Amount of Credit Available for Individuals with Adjusted Income of No Moore than $75,000 ($150,000 on Joint Return).
• Purchaser May Not Have Owned a Principal Residence in 3 Years Prior to Purchase.
• No Repayment of Credit for Purchases January 1, 2009-December 1, 2009.
• If Home is Sold Within 3 Years of Purchase, Entire Amount of Credit is Recaptured on Sale. Applies Only to Homes Purchased in 2009.

For Further Information on the The First Time Home Buyers Credit

Netter Real Estate

631-661-5100

info@netterrealestate.com

Great News from Our Government!!

$15,000 Tax Credit on Any Home Purchase

A Bill Just Passed by the Senate Will Entice You to BUY NOW!

Here are the Most Important Things About the Bill That You Need to Know:

• Amount of the tax credit will equal $15,000.
• Purchases must be made within one year of this legislation being enacted!
• This tax credit will not have to be repaid.
• Taxpayers will be able to claim the credit on their 2008 income tax return.
• This will only apply to the purchase of a primary residence.
• You will have to stay in the residence for at least 2 years.

Any Questions?   Call the Jim Netter Team!   We are Here to Help!

Irina Renner

Buyers Assistant to James A. Netter

Netter Real Estate

(631) 661-5100

www.NetterRealEstate.com

irenner@netterrealestate.com

There are Some Doggone Great Deals in the Real Estate Market. When You or Someone You Know Needs the Assistance of a Professional Realtor, Call Me at 631-661-5100 ext 150. I Would Love to Hep You Look for Your New Digs!

CALL ANGELA CHARRON of NETTER REAL ESTATE

(631) 661-5100

(631) 664-1211 (cell)

amc4sale@yahoo.com