The Real Estate Encyclopedia
Jessica Martin
Category - Professionals in Real Estate - Real Estate Agents
Jessica Martin
Licensed Sales Associate

Jessica brings an energetic spirit, a passion for real estate and a "can do" attitude to Elika Associates. Having been in the luxury real estate and hospitality segment since 2003, Jessica offers unsurpassed service, loyalty and professionalism. Her knowledge and great attention to detail makes her a genuine asset to her clients.

Jessica came to Elika Associates from the prestigious and award-winning St. Regis Hotel in New York City where she was involved in marketing for the on-site Residences. Catering to many high-profile clients during her tenure at the St. Regis, she deeply understands the varying tastes of a discerning clientele as well as how to fulfill their needs.

Prior to the St. Regis, Jessica worked for Havens, a luxury private destination club. It was there that she realized her flare and passion for high-end real estate.

From day one, Jessica commits herself wholeheartedly to superior service for her clients while always paying strict attention to their unique needs. Buyers benefit greatly from her unrivaled ability to navigate them through the complex Manhattan real estate market from the initial search through to the negotiation process.

Jessica's character, knowledge and credibility assist prospective buyers make the most informed and exciting real estate decision of their lives.

Jessica’s comprehensive market insight and knowledge of available properties provides discerning buyers with not only essential information but preferred access to Manhattan’s condos and co-ops. In addition to educating her buyers with important industry data and finding the best suited property Jessica is skilled in negotiating the best terms possible for her clients.

Jessica’s superior level of service, coupled with her extensive real estate knowledge ensures your real estate needs will be carried out professionally, efficiently and personally.

Whether you are looking for a home, pied-a-terre or investment property Jessica will assist you in making an informed purchase.

New Tax Credit for First-Time Buyers In Effect
There has not been a whole lot of good news for the economy these days. The same can be said about the New York City real estate market: Prices are falling in the vast majority of sub-markets, and it looks like it’s going to be that way for at least the next two quarters.

Thankfully, the stimulus package passed by Congress is beginning to take effect. It is doubtful the bill is large enough by itself to right the failing ship of the national economy, but it is a strong start.

For the most part, the effects of the stimulus package that are being felt currently come in the form of reduced layoffs from state governments. Today, the president spoke in Columbus, Ohio to a group of police cadets who were going to be laid off until the stimulus bill provided the city with enough money to keep the new police officers on board.

One of the most immediate effects of the stimulus bill, however, is the change in the tax credit for first time home buyers. The old tax code offered a $7,500 tax rebate for those that purchased a home for the first time. That money, however, would eventually have to be paid back to the government in the following years.

The stimulus bill changed the law so as to allow for an $8,000 tax refund that will not have to be repaid, so long as the buyer holds the property for at least three years.

There is an income restriction on the tax credit, however, with the full credit being available only to couples earning up to $150,000, or individuals earning up to $75,000.

For those individuals earning between $75,000-$95,000, or couples earning between $150,000 - $170,000, a reduced version of the credit is still available, with earners closer to the high end of those brackets receiving a smaller portion of the credit.

It’s not much in terms of the overall cost of buying a home. It won’t encourage many people to buy a home who otherwise would not. It does, however, make it a little bit easier for those sitting on the fence to jump into the market and start looking for their first home: The tax credit alone may be more than you’ll pay in rent for the next six months.

What the credit also does in a big way is re-affirm the nature of the U.S. Tax code as one that very strongly favors home buyers.

One of the new law’s most important features for potential buyers in New York City:  The price limit on government-subsidized loans has been raised from roughly $400,000 to $729,000, putting thousands of NYC apartments in the range of low interest, Fannie Mae-backed mortgages.

External Links

Professionals in Real Estate - Real Estate Agents
Home   |   About Us   |   Contact Us   |   Patrons   |   FAQ's   |   Site Map
© 2008 - All Rights Reserved.
Thank you for visiting Real Estate Wiki - the leading dictionary, directory, encyclopedia and glossary for the real estate and mortgage industries .