The IRS has released IR-2009-083 reporting that about 1.4 million taxpayers have filed (or amended) their 2008 income tax returns claiming the $8000 first-time homebuyer tax credit. This is roughly consistent with NAR’s projections that about 1.8 million taxpayers will claim the credit. NAR also estimates that at least 355,000 of eligible sales would not [...]
On September 8, The National Association of REALTORS (NAR) filed a comment letter with the Federal Communications Commision (FCC) in its proceeding to develop a national broadband plan. NAR supports the FCC’s efforts because the business of real estate is increasingly conducted online. Streaming video, virtual tours and voice-over-internet-protocol are just some of the technologies [...]
Many economists support a bi-partisan Senate bill (S. 1678) recently introduced that would create a six-month extension of the $8,000 federal tax credit for first-time homebuyers and move the current expiration date forward to June 1, 2010.
This is an important next step for maintaining positive momentum toward a recovery in the housing markets and the overall U.S. [...]
Short sales leave frustration in their wake
A couple years ago, few people in the housing market had ever heard of a short sale.
Mention the term today and people, whether they are homeowners or real estate agents, just roll their eyes.
The practice, which involves selling a property for less than the amount owed on the mortgage, [...]
Economists: Extend the housing tax credit
WASHINGTON - Sept. 21, 2009 - More than 40 percent of all homebuyers in 2009 will qualify for the federal tax credit, costing the government about $15 billion - twice the original estimate - but most housing experts applaud the policy and favor expanding it.
Now the decision is up to [...]
RISMEDIA, September 8, 2009-House prices in the U.S. continued to depreciate in the second quarter 2009 but at a much more moderate rate compared to the fourth quarter 2008, the peak of the collapse in home prices, according to a quarterly housing valuation analysis by IHS Global Insight. Prices fell at a 2.7% annualized rate [...]
Make no bones about it, with respect to our real estate market, that was then and THIS is NOW. As with any commodity market, values change. In the grand scheme of things, real estate is just that, a commodity.
The underlying force affecting price is supply and demand. It really doesn’t matter what triggers it, it’s going [...]
August 31, 2009
2009 Property Tax and Millage Update
For your convenience, a reminder of the public hearing dates for the determination of 2009 millage rates is attached. You are welcome to pass this information on to your associates, family members, clients and neighbors.
Meetings are open to the public to give you an opportunity to express your [...]
WASHINGTON - Sept. 1, 2009 - Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors® (NAR).
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased [...]