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Interesting facts about Edison NJ

by Sanjeev Aneja

We have been serving the families in Edison since our inception in 1994 and feel that there should be a one place consumers can go to and find information about the town on their fingertips!  Here are few facts. We welcome the input of Edison residents to make this even more interesting and informative!

* Edison offers an excellent school system.  There are 2 high schools (Edison High and JP Stevens), 4 middle schools, and 11 elementary schools!  You can learn more about the Edison Township Public Schools HERE.

* Edison is about 30.6 sq. miles in area and is the 5th largest municipality in NJ .  Edison was ranked as the 28th most livable small city in the USA by CNN money Magazine in 2006. In 2008, Money Magazine ranked Edison # 35 out of the top 100 places to live in USA.  Edison is known for it's excellent schools, easy access to major highways (NJ Turnpike, Garden State Parkway, 287, Rt 1, Rt 27), proximity to transit system (Edison Train Station, Metuchen Train Station, and Metro Park Train Station), major shopping malls (Menlo Park Mall and Woodbridge Center Mall), and much more!  You can learn more about Edison township HERE.

* Edison was home of Thomas A Edison.  The Edison memorial is being fully renovated and restored with funding from the state. It is located less than 5 minutes away from our On Track Realty office. For details of the memorial, click HERE

On Track Realty team is ready to serve your real estate needs, and answer your real estate questions.  Please visit us at www.ontrackrealty.com to search the homes for sale in Middlesex county and for many other resources! We can be reached at 732.494.2211. Like us on Facebook LIKE.

We welcome your input!

 

Short sales and Tax relief for Mortgage debt forgiveness

by Sanjeev Aneja

What is tax relief for mortgage debt forgiveness, and is it still available?

For the last few years, the congress allowed a tax relief to those who went through short sales and had their mortgage forgiven!  Typically, IRS considers the forgiven amount as a gain and the homeowner is required to pay taxes on the forgiven amount.  Till 2013, the law helped waive that taxation to help those in trouble! On January 1, 2014 the provision expired and put the tax burden on every homeowner who took advantage of this mortgage relief!

The good news is that the Congress has passed the bill for an extension of this provision, including some other bills, and Senate hopefully will do the same soon!  Thanks to NAR (National Association of Realtors) for working on behalf of the consumers to make this happen!

Need more clarification on this and how this works? Ask us!  We can be reached at 732.494.2211.  And for how it will effect you exactly given your circumstances, consult your tax advisor!

Know of friends who may be going through a short sale right now? Tell them about this good news!

Buying, Selling, or Renting, we are here to serve your real estate needs! Call us at 732.494.2211. On Track Realty is a licensed real estate broker in NJ.

www.ontrackrealty.com

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Displaying blog entries 1-2 of 2