Yesterday some of our agents volunteered to sell Make-A-Wish Angels at Crosggates Mall in Guilderland. We were able to raise over $900 in a four our period.  This kind of commitment shows that our agents are committed to our community.  I would like to encourage every agent in the Capital District to start giving back to the community!!!!

President Obama signed into law the new Homebuyer Tax Credit and immediately we started to hear why and how we are going to pay for this, same old story….

I want to make sure people understand the benefit of the Homebuyer Tax credit, is not all about the Real Estate industry getting our own stimulus package, and actually is a much bigger benefit.  I honestly believe that Real Estate is the heart of the economy and here is why:

In my 25 years of experience as a real estate professional, I haven’t come across many people who move into their new house, either resale or new construction, who don’t make improvements.  As such the Homebuyer Tax credit allows buyers to get into their new homes and start spending money either on appliances, painting, new roof, etc…  Or even maybe putting and addition on that new home.

So if we really think about it, the Homebuyer Tax credit benefits are far reaching and better yet stimulates the entire economy,  in contrast to the “Cash for Clunkers” program that only benefited a few.

The Homebuyer Tax Credit trickles down to every corner of the economy.

Maybe the “nay Sayers” should start to think before they react

Finally a good thing happens in New York State.  Today Governor Paterson announced a Federal Income Tax Credit for First Time Home Buyers.
This is great news for buyers and sellers alike. With the expiration of the $8,000 credit on November 30th, NYS came through with what I believe is a great program.  Basically the program allows a first time buyer (the definition of a 1st time buyers is the one used by SONYMA) to claim a tax credit equal to 20% of their annual mortgage interest cost. The program is called “The New York State Mortgage Credit Certificate”. This program remains in effect as long as the buyer lives in the house as their primary residence.

Now here comes the tricky part:
There are income limits and home price limits that follow the SONYMA Program guidelines. Also, this program can’t be used in conjunction with SONYMA.  Finally, be aware that you need to get your certificate through an approved bank. As of this writing, that list was not updated in the government’s website.

Contrary to popular belief, this program will have an impact on the 1st time buyer since the income and price limits are actually quite reasonable. As an example:
A 3+ Person Household income limit in a non-target area in Albany County is $85,215 and the price limit for the house is $273,050.

But overall, I’m quite pleased to see that NYS is doing something for the first time buyers. Now if President Obama would extend the $8,000 Tax credit, then we would be all set.

For more information visit http://nyhomes.org/index.aspx?page=898

I’m proud to say that we have the TechValley homes team getting ready for the Freihofers run for Women. Is a 5K run “It’s not just a competition. It’s a celebration of women. Come experience the thrill of a lifetime at the Freihofer’s Run for Women in Albany, NY” as quoted in their website http://www.freihofersrun.com/

Our team members are:
Jill Birdsall
Mary Bolognino
Beth Kaufman
Michele Burns
Susan Sommers
Way to go!!!!!