28 posts categorized "Real Estate Industry News" Feed

President's Plan "Making Home Affordable" Loan Refinance and Modification Options Explained at FinancialStability.gov

On Wednesday, March 4, 2009 - The White House released the details of who is eligible and how the loan refinancing and loan modification programs will work. The program dubbed "Making Home Affordable is detailed at FinancialStabilty.gov- see below for a re-posting of the information added to the site yesterday. Learn About the Making Home Affordable Refinance and Modification Options The President's plan was created to help millions of homeowners refinance or modify their mortgages. Refinancing: Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to... Read more →

Home Buyers $8,000 Tax Credit

Attorney Darren Welsh has an informative post on his legal blog regarding the first time home buyers credit of $8,000 which was modified as part of the recently passed legislation "American Recovery and Reinvestment Act of 2009". Las Vegas accountant, Diane Clough explains the tax credit... read more..... TGIF Legal Tip: First Time Buyer $8,000 Tax Credit In a nutshell: Changes the 2008 $7500, repayable credit to $8000 and no repayment (tax credit - “refundable”) Good for purchases of principal residence on or after January 1 to December 1, 2009 Only first-time home buyers are eligible (defined as anyone who... Read more →

Stimulus Plan; Recovery and Reinvestment Act - Resources for REALTORS

Here are some links to various resources concerning the Stimulus Plan, the American Recovery and Reinvestment Act of 2009, the Homeowner Affordability and Stability Plan. If you want to recommend any other useful resources to add to this post - just post your comment and link! NAR's resource page - Unlock America's Economy (Links to articles, NAR President's Podast series, and other good information to keep you informed and updated) Recovery.gov Stay informed about how and where the money is being distributed from the recently passes American Recovery and Reinvestment Act. Visit the site for timelines, graphics, charts and updates... Read more →

NAR Discussion Housing Provisions of American Recovery and Reinvestment Act of 2009

In the February 17 video podcast, 2009 NAR President Charles McMillan, NAR's Chief Lobbyist Jerry Giovaniello and NAR's Chief Economist Lawrence Yun discuss the housing provisions in the new economic stimulus law and their impact on the housing market and the overall economy. Read more →

Las Vegas to Lead the Nation Out of Housing Crisis?

Kathryn Bovard wrote an excellent post yesterday on her Zen Real Estate blog, reporting on NAR's chief economist Dr. Lawrence Yun's prediction that Las Vegas would lead the country out of the housing crisis. Dr. Yun cited to key reasons... 1.The Las Vegas home prices are under market and 2. The Stimulus Plan Read Kathryn's full post for more.. Today Chief Economist Predicts Las Vegas Real Estate Market to Lead the Nation Out of Housing Crisis Read more →

President Obama Unveils $75 Million Foreclosure Prevention Plan

President Obama unveiled his $75 Billion plan to stem the foreclosure crisis in the country. The "Homeowner Affordability and Stability" plan proposes to help between 7-9 million families restructure & refinance their mortgages to avoid foreclosure. Highlights of President Obama's plan to reduce mortgage foreclosures: Allow an estimated 4 million to 5 million currently ineligible homeowners who get their mortgages through Fannie Mae or Freddie Mac to refinance at lower rates. Create incentives for lenders to work with borrowers to modify the terms of subprime loans at risk of default and foreclosure. Take "major steps" to keep mortgage rates low... Read more →

$15,000 Home Buyer Credit - Stimulus Bill Passes in Senate

A sampling of blogs today reporting on the Senate's passage of the revised Stimulus Bill with some commentary and conversation regarding the $15,000 Home Buyer Credit. Wall Street Journal Developments Blog FAQ: Senate Stimulus Bill’s Home Buyer Tax Credit The Senate bill modifies an existing $7,500 home buyer credit, repealing a provision that requires buyers to pay it back. Major differences include... The Senate version is nonrefundable, meaning you can only receive the credit if you owe federal income taxes. The existing credit is refundable, meaning you get a check from the government even if you don’t owe income tax.... Read more →

New FHA Appraisal Guidelines - Debbie Huber of Huber Appraisal in Las Vegas

Debbie Huber of Huber Appraisal and Home Pride Insections in Las Vegas is today's featured guest blogger. Debbie has been appraising residential homes in Las Vegas for over 20 years and holds the SRA designation (Senior Residential Appraiser). She is also a Past President of the Appraisal Commission for the State of Nevada. Her topic is recent changes to FHA appraisal guidelines. To reach her at Huber Appraisal, please call (702) 243-3256 or email her at debbie@huberappraisal.com To reach Home Pride Inspections, please call (702) 363-1681 m.harrison@homeprideinspections.com FHA Required repairs for residential appraisals will be limited to necessary requirements. They... Read more →