I just read this and just wanted to share it with everyone.
Prevent New Tax Burdens on Real Estate
Congress is considering changes to the tax code in order to pay for a number of tax provisions expiring in 2010. Two of these provisions would impact real estate. The first would require all owners of rental properties to file IRS 1099 forms for all contractors they do business with if they pay that contractor $600 or more in any given year. This onerous provision would apply to even the smallest landlord.
In addition, Congress is considering taxing "carried interest" at ordinary income rates instead of capital gains. Carried interest rules govern how general partners in real estate investments pay taxes when the investment is sold.
These new tax burdens will further delay the real estate market recovery. These proposals are ill-advised, inopportune and potentially destructive. Please tell Congress to oppose them today.
Friday, May 21, 2010
Wednesday, May 12, 2010
Realtors trying to help the market recovery. Let me know your opinion of this.
Realtors(R) to Reinvigorate Efforts Toward Real Estate and Economic Recovery
WASHINGTON, DC -- (Marketwire) -- 05/10/10 -- The National Association of Realtors® is bringing together legislators, public policy makers and industry leaders this week to develop strategies and solutions for addressing ongoing challenges in the real estate market as the Realtors® Midyear Legislative Meetings & Trade Expo begins.
Three days of the meetings, May 11-13, will be devoted to a summit, Realtors® On the Rise: Stabilizing the U.S. Mortgage Finance Delivery System.
"As leading advocates for homeownership, housing issues and private property rights, Realtors® know that the industry must address important issues related to mortgage financing and commercial credit if the real estate markets and larger economy are to truly recover and stabilize," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "We understand how important our industry is to the health of the economy as a whole, which is why we're devoting much of our midyear meetings this year to reshaping real estate in America."
Realtors® from across the country will join Federal Housing Administration Commissioner David Stevens; U.S. Treasury Assistant Secretary for Financial Institutions Michael Barr, Mark Zandi, chief economist and co-founder of Moody's Economy.com; Diane Swonk, senior managing director and chief economist with Mesirow Financial; and political strategists Edward W. Gillespie and Terry McAuliffe in sessions throughout the week. Various government agencies, academic institutions and organizations will also participate, including representatives from the U.S. Department of Housing and Urban Development, U.S. Department of the Treasury, Federal Home Loan Bank of New York, Harvard University, and the American Securitization Forum.
More than 7,000 Realtors® are expected to attend. During the week, they will also meet with legislators on Capitol Hill to urge action toward stabilizing the U.S. mortgage finance delivery system, strengthening housing stability, and improving liquidity for the commercial real estate market.
The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.realtor.org. News releases are posted in the Web site's "News Media" section in the NAR Media Center.
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.
Articles appearing above are picked up from MarketWire's feed. Stories from this feed are submitted by companies, edited and rereleased as a service of MarketWire.
Sign up for 4A's SmartBrief
Designed specifically for advertising, media, and marcom executives, 4A's SmartBrief is a FREE, daily e-mail newsletter. By providing the latest need-to-know industry news and information, 4A's SmartBrief saves you time and keeps you smart. Sign up today to receive 4A's SmartBrief. Learn more
Realtors(R) to Reinvigorate Efforts Toward Real Estate and Economic Recovery
WASHINGTON, DC -- (Marketwire) -- 05/10/10 -- The National Association of Realtors® is bringing together legislators, public policy makers and industry leaders this week to develop strategies and solutions for addressing ongoing challenges in the real estate market as the Realtors® Midyear Legislative Meetings & Trade Expo begins.
Three days of the meetings, May 11-13, will be devoted to a summit, Realtors® On the Rise: Stabilizing the U.S. Mortgage Finance Delivery System.
"As leading advocates for homeownership, housing issues and private property rights, Realtors® know that the industry must address important issues related to mortgage financing and commercial credit if the real estate markets and larger economy are to truly recover and stabilize," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "We understand how important our industry is to the health of the economy as a whole, which is why we're devoting much of our midyear meetings this year to reshaping real estate in America."
Realtors® from across the country will join Federal Housing Administration Commissioner David Stevens; U.S. Treasury Assistant Secretary for Financial Institutions Michael Barr, Mark Zandi, chief economist and co-founder of Moody's Economy.com; Diane Swonk, senior managing director and chief economist with Mesirow Financial; and political strategists Edward W. Gillespie and Terry McAuliffe in sessions throughout the week. Various government agencies, academic institutions and organizations will also participate, including representatives from the U.S. Department of Housing and Urban Development, U.S. Department of the Treasury, Federal Home Loan Bank of New York, Harvard University, and the American Securitization Forum.
More than 7,000 Realtors® are expected to attend. During the week, they will also meet with legislators on Capitol Hill to urge action toward stabilizing the U.S. mortgage finance delivery system, strengthening housing stability, and improving liquidity for the commercial real estate market.
The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.realtor.org. News releases are posted in the Web site's "News Media" section in the NAR Media Center.
REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.
Articles appearing above are picked up from MarketWire's feed. Stories from this feed are submitted by companies, edited and rereleased as a service of MarketWire.
Sign up for 4A's SmartBrief
Designed specifically for advertising, media, and marcom executives, 4A's SmartBrief is a FREE, daily e-mail newsletter. By providing the latest need-to-know industry news and information, 4A's SmartBrief saves you time and keeps you smart. Sign up today to receive 4A's SmartBrief. Learn more
Tuesday, May 4, 2010
I found this on realtor.org and thought you might find it interesting.
It appears we may be in the beginning of recovery of the real estate
market. I'd love to know your thoughts on this.
Pending Home Sales on an Upswing
Washington, May 04, 2010
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”
The PHSI in the Northeast declined 3.3 percent to 75.1 in March but remains 27.2 percent higher than March 2009. In the Midwest the index increased 1.2 percent to 98.9 and is 18.5 percent above a year ago. Pending home sales in the South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009. In the West the index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.
“Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun said. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.
An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.
First quarter metropolitan area home prices and state home sales will be released May 11. Existing-home sales for April will be reported May 24 and the next Pending Home Sales Index will be on June 2; release times are 10 a.m. EDT.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data, tables and surveys also may be found by clicking on Research.
NAR at a Glance
Economic & Housing Indicators
© Copyright NATIONAL ASSOCIATION of REALTORS® | Headquarters: 430 North Michigan Avenue, Chicago, IL 60611
DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020 I 1-800-874-6500
It appears we may be in the beginning of recovery of the real estate
market. I'd love to know your thoughts on this.
Pending Home Sales on an Upswing
Washington, May 04, 2010
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”
The PHSI in the Northeast declined 3.3 percent to 75.1 in March but remains 27.2 percent higher than March 2009. In the Midwest the index increased 1.2 percent to 98.9 and is 18.5 percent above a year ago. Pending home sales in the South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009. In the West the index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.
“Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun said. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.
An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.
First quarter metropolitan area home prices and state home sales will be released May 11. Existing-home sales for April will be reported May 24 and the next Pending Home Sales Index will be on June 2; release times are 10 a.m. EDT.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data, tables and surveys also may be found by clicking on Research.
NAR at a Glance
Economic & Housing Indicators
© Copyright NATIONAL ASSOCIATION of REALTORS® | Headquarters: 430 North Michigan Avenue, Chicago, IL 60611
DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020 I 1-800-874-6500
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