Boardwalk in Belmar is crowed today
Sunday, November 29, 2009
Saturday, November 28, 2009
Christmas in Spring Lake NJ 2009
| Upcoming Spring Lake Area Events: click here for entire schedule |
| November 28, 2009 | |
| Spring Lake | Spring Lake Christmas Celebration Kick-off - Festivities start at 6:00 PM - Holiday Hayrides- Music - Dancers - Holiday treats - Shops open till 8:00PM. |
| November 28, 2009 | |
| Spring Lake | Santa's Workshop opens 11am - 2pm and 5pm-7pm. |
| November 29, 2009 | |
| Spring Lake | Photos with Santa 11am - 2pm. Gingerbread Man Decorating - Holiday Story Time - Buy the New Spring Lake Christmas Ornament - choose a Name from the "Giving Tree" - Ornament and Stocking Decorating. |
| December 4, 2009 | |
| Spring Lake | "Dickens of a Weekend" Fezziwig Scavenger Hunt and Prizes Scrooge Performers Caroling Trolley Running through Town. |
| December 5, 2009 | |
| Spring Lake | "Dickens of a Weekend" Fezziwig Cocktail party at The Breakers 9pm until Midnight. For more information cal 732-449-0037. |
| December 5, 2009 | |
| Spring Lake | Photos with Santa 11am - 2pm. Gingerbread Man Decorating - Holiday Story Time - Buy the New Spring Lake Christmas Ornament - choose a Name from the "Giving Tree" - Ornament and Stocking Decorating. |
| December 5, 2009 | |
| Spring Lake | Candlelight Christmas Inn Tour - Sponsored by the Historic Inns of Spring Lake - 732-859-1465 |
| December 11, 2009 | |
| Spring Lake | Spring Lake Library: 3:30 pm. Children's craft time. Please call for reservation 732-449-6654. |
| December 12, 2009 | |
| Spring Lake | Photos with Santa 11am - 2pm. Gingerbread Man Decorating - Holiday Story Time - Buy the New Spring Lake Christmas Ornament - choose a Name from the "Giving Tree" - Ornament and Stocking Decorating. |
| December 14 , 2009 | |
| Spring Lake | Spring Lake Library: 7:30 pm. Professor John B. Wefing will discuss his new book 'The Life and Times of Richard J.Hughes, The Politics of Civilty'. Gov.Hughes possessed a true ability to work with members of both political parties. Please call to reserve a seat. 732-449-6654 |
Apple 3GS 16 gig IPHONE for only $49 this weekend
Refurbished iPhone 3GS: Only $49 at AT&T
by SIMON NG on NOVEMBER 28, 2009
AT&T is now offering refurbished 16GB iPhone 3GS for $49 for new customers. What’s more is that it includes free overnight shipping and free activation.
The refurbished iPhone 3GS comes with the same warranty as the new unit. So, you don’t have to worry about the quality. Just head to the att.com and order one if you’re planning to upgrade your iPhone or buy a gift for someone.
But remember, AT&T requires you to subscribe to a two-year contract with data plan. Act quick while the stock is available!
Friday, November 27, 2009
Matisse Belmar photo taken from the deck
Here is the view from the deck at Matisse overlooking the Atlantic Ocean
Belmar woman honored for bravery
Belmar woman honored for bravery
November 24, 2009
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By Zach Levine
Belmar resident Victoria Blevins was honored recently by Mayor Kenneth E. Pringle [left] and Assemblyman David Rible [R-11] for saving a neighbor from a house fire.
Photo courtesy ASSEMBLYMAN DAVID RIBLE
BELMAR — Just over one month ago, Victoria Blevins, 25, a resident here, sprung into action along with her family and helped avert a potentially deadly situation, as Ms. Blevins ran into a burning house and pulled her neighbor, Helene Rosen, 78, to safety.
To honor her efforts and commend her for the bravery she displayed, the Belmar governing body and Assemblyman Dave Rible [R-11] presented her with citations during last week’s borough council meeting.
The council members first awarded Ms. Blevins with the Belmar Police Department Civilian Merit Award.
Mayor Kenneth E. Pringle read aloud the resolution which honored Ms. Blevins for her bravery.
“She entered her neighbor’s home without hesitation, fought through the smoke and carried her fallen neighbor to safety, and her initiative and actions were done without regard for her own safety, with the sole goal of assisting her neighbor in need,” the mayor said.
“Her actions reflect credit upon herself and exemplifies what all of us expect from each other in an emergency — courage, self-initiative and selflessness,” he added.
Belmar Acting Police Chief Thomas Palmisano said Ms. Blevins “without a doubt” exemplifies what it means to be a “good neighbor.”
“I think she is an outstanding young lady,” he said. “She didn’t worry about her own safety, and she didn’t really know the person who lives next door, so it was a pretty great thing for her to do.”
Acting Chief Palmisano added once the department found out what Ms. Blevins had done, they immediately filed the paperwork to honor her properly for her courage.
“As soon as it was done, we put in right away to recognize her for what she did,” he said. “I only have good things to say about what she did, and it’s good to know we have residents like this in our town.”
He also said what Ms. Blevins did was “courageous” and was something that others may not have done if placed in a similar situation.
“Most people would have sat back and called the fire department,” he said. “It was smart enough for her to get in there, since her neighbor might not have made it.”
Also honoring Ms. Blevins during the evening was Assemblyman Rible, who had his own resolution to present on behalf of the District 11 Legislative Office.
“Victoria Blevins’ fearlessness, determination and unwavering willingness to risk her life to help another in a dangerous situation resulted in saving of Helene Rosen’s life, and provided a model of bravery and selflessness worthy of emulation,” he read.
Assemblyman Rible continued, “This legislature hereby honors Victoria Blevins for her heroism, commends the remarkable courage she displayed during her neighbor’s house fire, and extends to her sincere best wishes for continued success in all future endeavors.”
Ms. Blevins, a current medical student at Seton Hall University, recalled on the day of the fire that she was taking a nap when she heard her mother scream that the neighbor’s house was on fire.
“I had two exams that day already and was taking a nap on the couch in the apartment,” she said. “I then heard my mom scream, woke up, ran down the stairs, and smelled the smoke.”
Ms. Blevins said the only time she really encountered Ms. Rosen was when she walked by her home and saw Ms. Rosen sitting on her porch.
“Helene always said, ‘Hi neighbor!’ and I always waved back, but I never had the chance to really meet her,” she said.
Ms. Blevins added she rarely saw Ms. Rosen leave the home and had a strong feeling that her neighbor was stuck inside the residence.
“I jumped the fence, ran in and she was hunched over her walker in the living room. She was having difficulty breathing, and you couldn’t even see anything when you ran into the house,” she recalled. “I grabbed her up under my arms and she just collapsed.”
After Ms. Blevins ran into the home and pulled out Ms. Rosen, emergency medical technicians arrived on scene and brought her to Jersey Shore University Medical Center, in Neptune, where she was observed for several days before being released.
Belmar Police Detective Sean Pringle said the incident was classified as an “accidental electrical fire,” and the department was not exactly sure what caused the blaze, as numerous different electrical issues could have started the fire.
Ms. Blevins said her family had moved to Belmar temporarily, while waiting for their home to be built in Farmingdale.
“We just moved in a couple weeks before, so I think it’s amazing that it happened when it did,” she said. “… everything happens for a reason.”
In the days following the incident, Ms. Blevins was contacted by Belmar Borough Clerk April Claudio, who asked her to come to a council meeting to receive thanks from the council members.
“I thought I was just going there to shake the mayor’s hand, so I was just taken aback by what happened,” she said.
Ms. Blevins said she was honored to receive the award, however she was quick to point out that it wasn’t a solo effort on helping save her neighbor from the blaze.
“I’m not sure why I was the only one who got recognition,” she said. “It could have had a much worse outcome. It really was a team effort.”
More Belmar news, plus full coverage of southern Monmouth and northern Ocean counties, can be found at starnewsgroup.com.
Tuesday, November 24, 2009
Navy SEALs Face Assault Charges for Capturing Most-Wanted Terrorist
Navy SEALs Face Assault Charges for Capturing Most-Wanted Terrorist
Tuesday , November 24, 2009
By Rowan Scarborough
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Navy SEALs have secretly captured one of the most wanted terrorists in Iraq — the alleged mastermind of the murder and mutilation of four Blackwater USA security guards in Fallujah in 2004. And three of the SEALs who captured him are now facing criminal charges, sources told FoxNews.com.
The three, all members of the Navy's elite commando unit, have refused non-judicial punishment — called an admiral's mast — and have requested a trial by court-martial.
Ahmed Hashim Abed, whom the military code-named "Objective Amber," told investigators he was punched by his captors — and he had the bloody lip to prove it.
Now, instead of being lauded for bringing to justice a high-value target, three of the SEAL commandos, all enlisted, face assault charges and have retained lawyers.
Matthew McCabe, a Special Operations Petty Officer Second Class (SO-2), is facing three charges: dereliction of performance of duty for willfully failing to safeguard a detainee, making a false official statement, and assault.
Petty Officer Jonathan Keefe, SO-2, is facing charges of dereliction of performance of duty and making a false official statement.
Petty Officer Julio Huertas, SO-1, faces those same charges and an additional charge of impediment of an investigation.
The three SEALs will be arraigned separately on Dec. 7. Another three SEALs — two officers and an enlisted sailor — have been identified by investigators as witnesses but have not been charged.
FoxNews.com obtained the official handwritten statement from one of the three witnesses given on Sept. 3, hours after Abed was captured and still being held at the SEAL base at Camp Baharia. He was later taken to a cell in the U.S.-operated Green Zone in Baghdad.
The SEAL told investigators he had showered after the mission, gone to the kitchen and then decided to look in on the detainee.
"I gave the detainee a glance over and then left," the SEAL wrote. "I did not notice anything wrong with the detainee and he appeared in good health."
Lt. Col. Holly Silkman, spokeswoman for the special operations component of U.S. Central Command, confirmed Tuesday to FoxNews.com that three SEALs have been charged in connection with the capture of a detainee. She said their court martial is scheduled for January.
United States Central Command declined to discuss the detainee, but a legal source told FoxNews.com that the detainee was turned over to Iraqi authorities, to whom he made the abuse complaints. He was then returned to American custody. The SEAL leader reported the charge up the chain of command, and an investigation ensued.
The source said intelligence briefings provided to the SEALs stated that "Objective Amber" planned the 2004 Fallujah ambush, and "they had been tracking this guy for some time."
The Fallujah atrocity came to symbolize the brutality of the enemy in Iraq and the degree to which a homegrown insurgency was extending its grip over Iraq.
The four Blackwater agents were transporting supplies for a catering company when they were ambushed and killed by gunfire and grenades. Insurgents burned the bodies and dragged them through the city. They hanged two of the bodies on a bridge over the Euphrates River for the world press to photograph.
Intelligence sources identified Abed as the ringleader, but he had evaded capture until September.
The military is sensitive to charges of detainee abuse highlighted in the Abu Ghraib prison scandal. The Navy charged four SEALs with abuse in 2004 in connection with detainee treatment.
Saturday, November 21, 2009
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24 hour messaging service to leave me an urgent message is
415.367.3030
Tuesday, November 17, 2009
New York Weighs Tougher Stand on D.W.I. Cases
New York Weighs Tougher Stand on D.W.I. Cases
S
By JEREMY W. PETERS
Published: November 17, 2009
ALBANY — New York State would make it a felony to drive while intoxicated with a child in the vehicle and would require first-time convicted drunken drivers to buy a device that prevents them from driving their cars if they have been drinking, under a bill passed by the State Assembly on Tuesday.
The measure, which would significantly toughen penalties for drunken driving, could be passed by the Senate and sent to the governor this week. It would make New York the second state, after Arizona, in which drivers under the influence of alcohol could be charged with a felony if they have children as passengers.
New York would also be one of only a dozen states that force drivers convicted for the first time of drunken driving to install what is called an interlock device, which measures the alcohol content of a driver’s breath and prevents the engine from starting if it detects too high a level.
The push for harsher drunken-driving penalties follows two recent crashes in New York in which children were killed while traveling with adults who had been drinking.
In July, a Long Island woman drove the wrong way on the Taconic Parkway in Westchester County and killed eight people, including her 2-year-old daughter and three young nieces. The driver, who also died, had a blood alcohol content of 0.19 percent, more than double the 0.08 percent that qualifies as being intoxicated while driving, and had marijuana in her system.
And in October, an 11-year-old girl, Leandra Rosado, was killed after the mother of one of her friends, who has since been charged with vehicular manslaughter and driving while intoxicated, flipped her car on the Henry Hudson Parkway in Manhattan. The new law was named in honor of the girl.
Leandra’s father, Lenny Rosado, wept on Tuesday as he stood with lawmakers in the State Capitol to announce an agreement on the new stricter laws.
“Everyone who takes a drink and gets behind the wheel is going to think twice about driving whether there are children in the car,” Mr. Rosado said. “My daughter’s name and her death will make a difference.”
Under the measure, which Mr. Paterson has said he supports, drivers convicted of being drunk while carrying passengers 15 years or younger could face up to four years in prison.
Though the proposal was expected to get overwhelming support in the Legislature, some warned that the measure was not being given a thorough study.
“This bill has floated through so quickly, and I believe there are a lot of voices who would like to be heard,” said Assemblyman Vito J. Lopez, a Democrat from Brooklyn. “They will never be heard, and the reason they will never be heard is because there’s too much emotionalism.”
Courts in New York convicted 37,695 people for drunken driving last year, and across the country people who drink and drive kill about 13,000 people a year.
Typically, the machines prevent vehicles from starting if there is even a small amount of alcohol on the driver’s breath, indicating a blood level of 0.02 to 0.05 percent.
A recent study by the Insurance Institute for Highway Safety, a nonprofit group financed by auto insurers, found that repeat drunken driving offenses dropped 65 percent among those with interlock devices.
Another study, by the National Highway Transportation Safety Administration, estimated that if the devices were more widely installed, they would save up to 750 lives a year. The devices are clearly not foolproof — a driver who has been drinking can use another car or have someone else breathe into the device. Some states install cameras in cars to prevent this, or require drivers to breathe into the machines at various intervals while driving.
Still, those who fight for tougher drunken driving laws lauded New York’s move, saying it would serve as a deterrent to those who casually get behind the wheel after drinking.
“This creates a very effective message: that drunk driving is not tolerated,” said Charles A. Hurley, chief executive officer of Mothers Against Drunk Driving. “The main reasons why drivers continue to drive drunk is because they can and because we let them. And interlocks stop that.”
Mr. Hurley said the combination of the two new laws would give New York the country’s most effective drunken-driving penalties. “New York really is the national model now,” he said.
Automakers and the federal government are now examining ways to make technology like ignition interlocks more widely available. A panel made up of car manufacturers and government officials has begun looking into ways that all vehicles might include systems that prevent impaired drivers from getting behind the wheel.
For example, they have studied sensors that could be installed in steering wheels that detect alcohol through the skin and devices that automatically measure alcohol in the ambient air of a vehicle’s interior.
“Interlocks are very effective in preventing recidivism, but the problem is they’re used in a tiny proportion of cases,” said Russ Rader, a spokesman for the Insurance Institute for Highway Safety.
Figures collected by institute showed that in 2007, the most recent year data was available, 146,000 ignition interlocks were in use in the United States, even though 1.4 million people were convicted of drunken driving.
Last month, Gov. Arnold Schwarzenegger of California signed into law a pilot program making interlock devices mandatory for first-time drunken drivers in four counties, including Los Angeles and Sacramento.
Interlocks are in use in some form in 47 states, but most require them only for those who were found driving with an extremely high blood alcohol content or leave it to judges to decide whether they are used.
No Coke at Costco
Costco Wholesale Corp., the largest U.S. warehouse club where everything is more than you need, stopped restocking some Coca-Cola Co. products in its stores after a dispute over pricing.
“At this time, Coca-Cola has not provided Costco with competitive pricing so that we may pass along the value our members deserve,” Costco said in a statement on its Web site.Hmm sound like Walmart might have gotten a better Christmas bonus
Teri Finney, a company spokeswoman, declined to provide additional details. Scott Williamson, a spokesman for Coca- Cola, said it doesn’t comment on negotiations. Speaking for Coca-Cola Enterprises Inc., John Downs declined to comment. The company, Coca-Cola’s largest distributor, sells drinks to Costco with support from Coca-Cola.
The brands subject to the dispute include Coke Classic, Cherry Coke, Black Cherry Vanilla Coke, Diet Coke, Coke Zero, Sprite and Squirt, Dasani Water and Vitamin Water along with several energy drinks.
Costco members pay an annual fee to shop for groceries as well as luxury items. The Issaquah, Washington-based company limits the mark-up on products it sells.
Monday, November 16, 2009
Boardwalk staple will be missed
Boardwalk staple will be missed
The Asbury Park boardwalk may be losing its only mainstay, the Mayfair Boardwalk Grill, this year. Madison Marquette has advised the owners, Ted and Diane Heleotis, that they will not be renewing their lease for the 2010 season.
As a longtime patron of the Asbury Park beach and boardwalk, this is a huge mistake. The Mayfair is one of the only establishments on the boardwalk that serves reasonable, children-friendly food, and it has the best hot dogs around.
It is impeccably clean and well run. It also is the only establishment that has weathered some of the tough times in Asbury. Even when most of the stores were vacant, I knew the Mayfair would be open for business when the summer months arrived.
Now, as Asbury Park is beginning a turnaround, this wonderful establishment is being asked to leave. Shame on Madison Marquette for this decision. Many other individuals and families in the area feel the same way.
Keep the Mayfair, please, for its food, its nostalgia and for the perseverance that the Heleotises have shown throughout the years by never giving up on the Asbury Park boardwalk when almost everyone else did.
Patty Kremer
OCEAN TOWNSHIP
Friday, November 13, 2009
Belmar Nj Storm Ida photos updated all day long Friday
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Thursday, November 12, 2009
Tuesday, November 10, 2009
the Hottest night in Atlantic City 2009 is Thursday night Godspeed
This party just keeps on getting bigger and better! The most beautiful lounge in Atlantic City, home of GODSPEED Thursdays in now bringing it back to the SIX.
This week GODSPEED will feature four of Atlantic City's most beloved local DJ's: Shamik, TJ the DJ, Joey the Hatt and Jason E. all from Studio Six / Club TRU fame.
As always there will be:
* $3 Bud and Bud Light Bottles
* $4 Heineken Bottles
* $5 Absolut Vodka Cocktails
and for VIP Bottle Service $120 Absolut and Absolut Flavors
There will be a special DIRTY COUTURE fashion show to go along with this great night of music.
For guest list or table reservations call
Need a new car? Call my friend Barry Pollack for any Auto needs at the Jersey Shore
Need a new car? Call my friend Barry Pollack for any Auto needs at the Jersey Shore
Need to buy a new car want a no bull no hassle experience, call 732.996.2572
Let Barry the Auto Concierge of the Jersey Shore put you in the right vehicle today
Monday, November 09, 2009
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24 hour messaging service to leave me an urgent message is
415.367.3030
Sunday, November 08, 2009
NJ State's bistros need beer, wine licenses
reprint
Letter to the editor APP.com
State's bistros need beer, wine licenses
NOVEMBER 8, 2009
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BYOB is un-American. The New Jersey policy that allows retaurant patrons to bring their own wine and beer for consumption into an establishment cripples one of the foundations of this country — small businesses.
Only larger, usually corporate bars can afford a New Jersey liquor license, which averages $500,000 per license. This price is prohibitively expensive for a small retaurant.
As a result, the small corner bistro must depend solely on the markup on food for profits. The markup on beer and wine is where the money is. That is why bars can offer meals at such low prices.
Given the high cost of food, labor, taxes and operating costs, it is almost impossible for a small BYOB restaurant to stay in business.
New Jersey needs beer and wine licenses. A limited license, at an affordable price, would allow small bistros to sell beer and wine only, and only as an accompaniment to food.
More businesses mean more jobs, which means lower social services, which means lower taxes. More retail sales generates more tax revenue, which means lower income taxes.
The patrons would benefit as well, as the price of a meal would drop (because restaurants would realize profits from the alcohol).
But our cowardly state senators bow to lobbying groups. The New Jersey Restaurant Association fears that creating a state beer and wine license would devalue the liquor licenses held by bars. But a beer and wine license is a different category entirely.
Shame on our senators for ignoring the needs of small businesses and not creating a New Jersey beer and wine license.
Kitty Philipp
POINT PLEASANT BEACH
NJEA
Where's sense of decency?
Kudos to the Marlboro school board for standing up to the extortion tactics of the teachers union. ("Marlboro school workers campaign for new contract," Oct. 31.)
Threats like "end this before it gets any worse" stated by New Jersey Education Association spokesman Steve Wollmer are simply unbelievable. Such self-serving aloofness is incomprehensible in today's climate.
Do these elite union members have any sense of decency and morals left at all — or are they blinded by greed? And these are the people we trust with educating our children? Heaven help us.
It should be interesting to watch teachers and education department employees knocking on doors for support of salary and benefit increases the residents couldn't dream of in today's environment. They should get a great welcome.
While citizens do their best to maintain a bare bones existence, these education employees are knocking on the doors of the very homes that many residents are doing their best to keep from foreclosure. Yet they have the unmitigated gall to ask citizen support for salary increases and benefit increases from the very people who have lost most benefits (or pay a small fortune for them), and forget what a salary increase is.
What happened to fairness? Are they at all aware of today's economic climate? Shouldn't they be just glad they still have a job?
I'm sure there will be a lot of very embarrassed door knockers in the ranks of teachers and education department employees. And they wonder why the public has such a low opinion of the NJEA. Hang in there Marlboro — we are all in your corner.
Tom Flynn
BARNEGAT
Saturday, November 07, 2009
Hello Belmar $8,000 homebuyers tax credit extended
$8,000 homebuyers tax credit extended
President Obama reups popular tax credit through June 2010 and expands it to include people with higher incomes and some who want to trade up into new homes.
By Les Christie, CNNMoney.com staff writer
November 6, 2009: 3:18 PM ET
NEW YORK (CNNMoney.com) -- President Obama signed an extension and expansion of the first-time homebuyers tax credit on Friday.
The $8,000 credit was scheduled to lapse on Dec. 1 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30 and close by June 30. The income limits were also raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.
The bill also made more homeowners eligible to claim the credit on their taxes. First-time buyers -- those who have not owned a home in the past three years -- still qualify for an $8,000 rebate. But now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.
"The new version of the tax credit has the potential to stimulate the housing market even more than the old version due to the fact that more people will qualify under the new rules," said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.
Who qualifies?
Nicholas provided four scenarios illustrating how the tax credit rules for existing homebuyers will apply:
• Harry owned a home in 2001 and 2002 but sold it to relocate for a job. He would qualify for the $8,000 first-time-buyer credit because he has not owned a home in the past three years.
• Sue purchased a home in 2004 and has lived there since. If she decides to buy a new home, she would qualify for the $6,500 tax credit because she has lived in the same residence for five consecutive years in the past eight.
• Jane purchased her home in 2002, lived there for five consecutive years before she rented it out in 2007. She would qualify because she was an owner/occupier for at least five consecutive years in the past eight.
• Mark purchased a home in 2006 and lived there for the past three years. He would not qualify because he is neither a first-time homebuyer nor someone who lived in the same primary residence for five consecutive years out of the past eight.
How it helps the economy
Legislators and industry experts expect that the credit will encourage buyers such as Jane and Sue to move up their purchase plans.
"This bill will shift demand from the second half of 2010 into the first half," said Pat Newport, a real estate analyst with IHS Global Research. "As a result, home sales and prices will get a boost in the first half of 2010, with payback in the second."
That's not a bad thing, according to Bill Kilmer, vice president of advocacy for the National Association of Home Builders. It's important to stabilize real estate markets quickly to help bring the economy out of its tailspin.
The original $8,000 tax credit appears to have helped accomplish that goal: Home prices have inched up the past few months, according to the S&P/Case-Shiller Home Price Index.
Would it have happened anyway?
But critics still see the program as being ineffectual because it rewards buyers who would have purchased a home anyway. Newport estimates that fewer than 400,000 of the 2 million who have claimed the original credit made their purchases solely because of the tax advantages.
Furthermore, buyers do not, in reality, receive the entire benefit. "The credit helped prices stabilize," said Newport. "So the credit has been split between seller and buyer. The sellers are getting higher prices and buyers paying more than they would have without it."
The housing industry, however, is pleased with the extension, although the credit has not been quite as effective as they hoped.
The industry thought the credit would provide a ripple effect, with sales to first timers triggering as many three additional "move-up" sales.
That did not happen, according to Lawrence Yun, NAR's chief economist.
"It did not have the chain reaction impact it was supposed to," he said. "Instead, many first-timers turned to vacant, foreclosed or other distressed properties the sellers of which were unlikely to be move-up buyers."
So, the tax credit helped prop up the low end of the market without having much impact on the rest of the spectrum. Expanding the benefit to existing homeowners should boost those segments. That should produce additional benefits, according to Yun.
"Preventing further price decline or even nudging prices up a bit stabilizes housing wealth, which makes homeowners more comfortable in their spending," said Yun. "They're more likely to go out to the stores or buy a new car. That provides a boost to the overall economy."
Friday, November 06, 2009
Belmar photo of the day from Belmar beach NJ IMG00157-20091106-1558.jpg
24 hour messaging service to leave me an urgent message is
415.367.3030
Wednesday, November 04, 2009
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