Experts on Homebuying Offer Their Advice at Seminar Independent experts on the housnig market and the tax implications of homebuying fill out a panel sponsored by K. Hovnanian Homes at 6 p.m. Monday in Tinton Falls, N.J.
BigNews.Biz - Dec 11,2009 - Experts on New Jersey’s housing market and on the tax implications of buying a home will join a panel of real estate professionals to answer questions about becoming a homeowner at the first of three seminars on the federal tax credit and the home-buying decision.
Sponsored by K. Hovnanian Homes, the first panel will run from 6 p.m. to 8 p.m. Dec. 14 at the Holiday Inn in Tinton Falls. Featured speakers include Jeffrey Otteau, president of Otteau Valuation Group; and Brian Spencer, a certified public account with Withum Smith & Brown. Otteau is one of the most often-quoted experts on the current state of the housing market in New Jersey. Spencer’s firm has been counseling clients for more than 30 years and has offices in six states.
“We can tell people it’s a great time to buy a home all day, but we know that’s what people expect us to say. It doesn’t mean much to someone struggling with the decision to buy a home,” said Barry McCarron, division president. “This is a chance to talk with two highly respected, independent experts. Not only will they give an overview, they’ll be able to answer some individual questions.”
Two other seminars also are scheduled. One is slated from 10:30 a.m. to 12:30 p.m. Jan. 9 at the Westin Hotel in Mount Laurel. The other will be held at the Sheraton Tara Hotel in Parsippany from 10:30 a.m. to 12:30 p.m. on Jan. 16.
Otteau is an expert on housing values who is sought by investors, news reporters and government officials for his expertise and insight. He will talk about the state housing market as a whole and as submarkets, where housing values have been and where they’re going. He’ll also talk about factors that help homes sell more quickly.
An expert on taxation, Spencer will offer insight into the benefits and tax implications of the current federal tax credits and other tax benefits of home ownership. The current program offers up to $8,000 for first-time homebuyers and up to $6,500 for those who own a home. The program runs through the summer.
In addition, experts from K. Hovnanian will offer their view of the market and some of the special considerations of purchasing a new-construction home. Also available will be counselors from K. Hovnanian-American Mortgage Co. Those interested also can visit exhibits about various K. Hovnanian communities throughout New Jersey and talk with knowledgeable professionals about those communities.
“While we’ll have lots of people there to answer specific questions about specific communities, our goal here is to get independent information to people who are struggling to decide whether it’s a good time for them to buy a home,” said McCarron. “We know that prices will never be lower, interest rates are at record lows, availability of homes won’t get better for several years and the tax credit offers additional help. Those reasons are why we’re seeing more people visiting our communities and choosing a home. We recognize that deciding to