First-Time Home Buyers

Please be sure to talk with a tax professional, but this will give you some information about First-Time Home Buyer Tax Credits. The information comes from US News and World Report

First-Time Home Buyer Tax Credit: 6 Things to Know

While the proposed $15,000 home-buyer tax credit died in negotiations between the House and the Senate, the $787 billion stimulus bill that President Barack Obama signed into law Tuesday includes a similar--albeit smaller--measure designed to help revive the real estate market. Here are six things you need to know about the freshly-enacted $8,000 first-time home buyer tax credit.

1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal. This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers
and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.

2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.

3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.

4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.
5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.

6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)

Golf Season is coming

For some hardy souls, perhaps golf season never ended. But for most people the fast approaching spring season is a time for joy. Here is just one reason. Golf season is coming to Monmouth County

Harbor Pines Golf Club & Estates

Harbor Pines was rated as one of the top 10 women-friendly golf courses, received a four-star rating from the Golf Digest, and is in the top 5 places to play according to The Jersey Golfer. Along with a breathtaking 520-acre course, there is an amazing 20,000 square foot clubhouse for receptions, private parties, business meetings and more. Residential homes line the fairways, and the course is minutes from the seashore.

Great Information about Freehold

Freehold NJ Information
Freehold Township is in Monmouth County, New Jersey and was first formed on October 31, 1693, and was incorporated as a township by an Act of the New Jersey Legislature on February 21, 1798. According to the United States Census Bureau, the township has a total area of 38.5 square miles, and shares borders with Marlboro, Manalapan, Colts Neck, Millstone Township, Jackson, Howell, and Freehold Borough which is entirely surrounded by the township.
The township is located approximately one hour south of New York City and one hour northeast of Philadelphia, Pennsylvania. Many residents of Freehold Township work in New York and commute to the city daily. Freehold Township is also just fifteen minutes from Belmar which is located on the Jersey Shore and is a popular summer destination for beach goers.
Public school students in Kindergarten through eighth grade are educated by the Freehold Township Elementary and Middle Schools with students in Kindergarten or grades 1-5 attending one of the five elementary schools. Students in public school for grades 9-12 attend either Freehold Township High School or Freehold High School, as part of the Freehold Regional High School District. The Freehold Regional High School District also serves students from Colts Neck, Englishtown, Farmingdale, Freehold Borough, Howell, Manalapan and Marlboro.
Monmouth Battlefield State Park, Turkey Swamp Park, and Michael J. Tighe Park (formerly known as Liberty Oak Park) are all located within the township and provide assorted recreational opportunities. The southernmost segment of the Henry Hudson Trail also starts in the township and is used by walkers, runners, and bicyclists. The township also boasts many other small parks.
Freehold Raceway offers horse lovers and bettors an opportunity to see harness racing, while the large Freehold Raceway Mall is, in addition to a large-scale shopping area, a venue for mall walkers in the mornings and a teenage hangout center in the evenings. As of January 2007, the mall is undergoing a major expansion project.