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seksun-guntanid_446847097-1024x454According to the American Banking Journal the Feds are going to cut mortgage insurance premiums again saving the average FHA borrower an average of $500 per year!  Read the full article here : ABA Journal.  Hopefully this will continue to increase our expectations for the 2017 market!  This change takes effect on loans closed after January 27th 2017 and the expect to save 25 basis points on the insurance premium. This Market Watch article really explains FHA loans and why the FHA is passing along these savings.  They are expecting $1M home buyers to purchase using FHA backed loans this year.  I can say the majority of closings I see here in the office are FHA backed loans.  Here’s to another interesting year!  I ❤️ Real Estate.

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If you are thinking about moving to our friendly bay village this weekend is a great way to find out what we are all about! On Saturday, December 3rd 2016 several gracious home owners open their ho…

Source: Explore Amityville during the Holidays

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If you are thinking about moving to our friendly bay village this weekend is a great way to find out what we are all about!

1477662177783On Saturday, December 3rd 2016 several gracious home owners open their houses to the public and the Woman’s League and Junior League of Amityville host the annual Holiday Homes Tour.  The houses are decorated and there are small items available to purchase such asmation on their website at  ornaments or baked goods.    Tickets are $20 each and you can find
more infor
AmityvilleJuniorLeague.com.

The Kiwanis and the Amityville Fire/Rescue Department will have trees and wreaths for sale on the corner of Bennett Place and Merrick Road on Saturday from 9 am to noon as well.  You can find out more about the Kiwanis on their  Amityville Kiwanis Facebook Page.

Saturday night at 5 pm the village hosts is Annual Christmas Tree Lighting.  The village gathers around the heart of our village by the gazebo on Park Avenue and Broadway.  Santa pays us a visit and many of our local children participate either by singing in the choir or showing off their dancing as part of the  Great South Bay Dance Company.  You can learn more about this event on the Amityville Village website.

The excitement continues on Sunday when St. Martin of Tours School located at 30 Union Avenue hosts their annual Christmas Fair and Wreath Sale from 9 am to 3 pm in the Parish Center.  More information about St. Martin of Tours School can be found here  St. Martin of Tours School.   Please note non of the other events listed on the school website are open to the public except for the Christmas Fair.

Once again the Amityville Police Department is collecting new, unwrapped gifts for Toys for Tots. The mission of the U. S. Marine Corps Reserve Toys for Tots Program is to collect new, unwrapped toys during October, November and December each year, and distribute those toys as Christmas gifts to less fortunate children in the community in which the campaign is conducted.

A new, unwrapped gift can be dropped off to Village Hall at 21 Ireland Place between the hours of 8am and 4pm. The collection box is located on the 1st floor outside of the elevator bank. The collection runs through December 18th.

Come and participate in any of these wonderful events and see what our town is really about,  the giving and grateful spirit of a small friendly bay village.  And if you are thinking about buying a home here I am happy to help as a local real estate expert I can help you find the home of your dreams!  Enjoy the holidays!

~Jenn

My Website

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Click on the link below to see how I am quoted in the Coldwell Banker Blue Matter Blog as well as to get tips for anything thinking about putting their home on the market.

6 Tips Every First Time Home Seller Should Know1sttimeseller_wa3

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Updated 3 Bedroom, 2 Full Bath Cape located in Amityville Village

Updated 3 Bedroom, 2 Full Bath Cape            located in Amityville Village                                 MLSLI Link

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Happy Hanukkah

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Another Source for a Down Payment

Most taxpayers know that they will pay a 10% penalty if they withdraw funds from their IRA before they turn 59.5 years old. There is an exception for first-time home buyers that allows a penalty-free withdrawal of up to $10,000 per person if they haven’t owned a home in the previous two years.
This would allow a married couple who each have an IRA to withdraw a lifetime maximum of $10,000 each, penalty-free for a home purchase.
In many cases, the money would be used for a down payment or closing costs. However, some buyers might consider this source to increase their down payment so they could qualify for a loan without mortgage insurance.
If the taxpayer qualifies for the penalty-free withdrawal, there may still be taxes due. Contributions to traditional IRAs are made with before-tax dollars and the tax is paid when the funds are withdrawn. Since Roth IRAs are made with after-tax dollars, there is no tax due when the funds are withdrawn.
Another interesting fact about this provision is that the taxpayer making the withdrawal can help a qualified relative which includes children, grandchildren, parents and grandparents.
Homebuyers who are considering using IRA funds for a home purchase should get expert advice from their tax professional concerning their individual situation.

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