Incentives Drive Deals at The Preserve in Matawan, N.J.
Time is Running Out to Take Advantage of Tax Credits
October 4, 2009 - The Preserve, American Properties Realty's popular community in Matawan, has seen an increase in deals resulting from the $8,000 federal tax credit deadline of Nov. 30 for first-time buyers, combined with its own $10,000 incentive.
With time now running out for first-time buyers to take advantage of the federal tax incentives, The Preserve has seen an influx of interest at the luxury condominium community, with 91 percent of buyers in 2009 being first timers. Nearly all have qualified for the eligibility limit of $95,000 for an individual or $170,000 filing jointly.
Additionally, The Preserve is offering a $10,000 special credit incentive toward upgrades and closing costs in three of its buildings. This incentive, paired with the $8,000 tax credit, has motivated hesitant first timers to buy at this community. The special credit incentive is available to qualified buyers who either finance through The Preserve's preferred lender or pay with cash.
“The Preserve has closed 16 deals since we unveiled our $10,000 credit in late June. Coupled with the incentives available to first-time buyers, there has never been a better time to own your own home,” said Paul Csik, senior vice president of sales and marketing for Iselin, N.J.-based American Properties Realty. “These incentives have helped people to get over their financial reservations in a turbulent economy.”
Preserve’s models include the Bramley model, which was recently reduced in pricing, is a 1,491square-foot two bedroom, two bathroom home and starts at $259,990. This model features an open floor plan, as well as an oversized living room. Their Arlington model, which is an end unit, is a 1,446 square-foot two bedroom, two bathroom home and starts at $269,990. Arlington models feature a formal dining room.
The Preserve is named after the lush 10-acre wooded preserve that the new community backs up to, complete with babbling brook. The Preserve is comprised of seven distinct three-story buildings and one two-story building with 157 residences featuring two bedrooms, two bathrooms and up to 1,635 square feet of living space.
All of the condominium homes are equipped with desirable features such as Formica laminate countertops in the kitchens and master bathrooms, Kitchen Craft 42-inch oak cabinetry, soaring 9-foot ceilings, Dal ceramic tile in the master bathrooms, security systems with intercoms and private balconies or terraces.
The Preserve offers a great location, outstanding public schools and mass transit and major highways nearby. Both New York City and the Jersey Shore are easily accessible. The development is less than two miles from the Aberdeen-Matawan Train Station, and there is an NJ Transit bus stop in front of the community.
For more information, call 732-283-9700 or visit www.americanproperties.net.
