Laws & Taxes

Johnson City, NY - November 11, 2009 - (RealEstateRama) -- As part of his ongoing effort to strengthen the housing market and the overall economy in the Southern Tier, Congressman Maurice Hinchey (D-NY) today held a roundtable discussion with members of the Greater Binghamton Association of Realtors to discuss legislation he recently helped the House pass that extends the $8,000 federal tax credit for first-time homebuyers through April 30, 2009 and creates a new $6,500 federal tax credit for non-first-time homebuyers who have been in their current residence at least five years.

Johnson City, NY - November 11, 2009 - (RealEstateRama) -- As part of his ongoing effort to strengthen the housing market and the overall economy in the Southern Tier, Congressman Maurice Hinchey (D-NY) today held a roundtable discussion with members of the Greater Binghamton Association of Realtors to discuss legislation he recently helped the House pass that extends the $8,000 federal tax credit for first-time homebuyers through April 30, 2009 and creates a new $6,500 federal tax credit for non-first-time homebuyers who have been in their current residence at least five years.

WASHINGTON, DC - November 10, 2009 - (RealEstateRama) -- A key tax incentive designed to spur rebuilding efforts in the areas hardest hit by Hurricane Katrina would be extended for two years by legislation introduced today by U.S. Senators Roger Wicker and Thad Cochran

Awards will aid residents of Red Oak, Avoca, Sioux City, Waverly, Waterloo, Onawa and Iowa City. DES MOINES, IA - November 10, 2009 - (RealEstateRama) -- Governor Culver announced today that five entities from around Iowa will receive a total of nearly $1.2 million to build and rehabilitate affordable housing. The awards are made through Affordable Housing Assistance Grant Funds, a part of the Culver/Judge Administration’s I-JOBS initiative. The Iowa Finance Authority administers the program

HOUSTON, TX - November 9, 2009 - (RealEstateRama) -- Clarence Lewis III, 46, of Houston, has been sentenced to 15 years in federal prison without parole for running a mortgage fraud scheme, United States Attorney Tim Johnson announced today.

West Babylon, NY - November 10, 2009 - (RealEstateRama) -- The Multiple Listing Service of Long Island, Inc. (MLSLI) released the October 2009 housing statistics for Long Island that reported a $360,200 closed median home price for Nassau, Suffolk and Queens County.

MORRIS PLAINS, N.J. - November 10, 2009 - (RealEstateRama) -- Nearly two years ago, James M. Weichert, president and founder of Weichert, Realtors, began calling upon Congress for a homebuyer tax credit that he felt would help repair the struggling national economy.

H.R. 3548 was passed by the House Thursday and signed into law by President Obama Friday. Washington, DC - November 10, 2009 - (RealEstateRama) -- Late last week, Congressman Baron Hill voted to stimulate the local economy and provide stability to American families hit hardest by the recession by extending unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses. The Emergency Unemployment Compensation Extension Act, H.R. 3548, will provide immediate assistance, extending relief to millions of workers, families, and businesses nationwide. The bill was passed by the House of Representatives on Thursday, November 5, 2009, and signed into law the next day by President Obama.

Washington, D.C. - November 5, 2009 - (RealEstateRama) -- Congressman Steve Rothman (D-NJ) voted in favor of H.R. 3548, the Worker, Homeownership, and Business Assistance Act of 2009.

Trenton, NJ - November 6, 2009 - (RealEstateRama) -- The people of New Jersey have spoken. Their priorities are still tax relief and cost cutting at all levels of government. The new Administration will surely need to tackle the factors that drive public spending. Local officials, through the League of Municipalities, stand ready and willing to help.

Legislation similar to bill introduced by Kratovil to help jump start the economy and put more people in homes. November 9, 2009 - (RealEstateRama) -- The House of Representatives passed and today President Obama signed into law legislation that will extend the $8,000 homebuyer tax credit past the November 30th deadline to first-time homebuyers with a binding contract before April 30, 2010.

Washington, DC - November 9, 2009 - (RealEstateRama) -- On Thursday, the House of Representatives overwhelmingly passed HR 3548, the Worker, Homeownership, and Business Assistance Act of 2009 by a vote of 403 to 12. This bill provides critical aid to families in Southeast Michigan and across the country in the form of extended unemployment benefits, tax relief to businesses, and an extension and expansion of the homebuyers’ tax credit.

Washington, D.C. - November 9, 2009 - (RealEstateRama) -- On Thursday, Congressman André Carson joined his House colleagues in voting to extend unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses

SPRINGFIELD, IL - November 9, 2009 - (RealEstateRama) -- The first-time buyer tax credit built third-quarter momentum as home sales marked the first positive year-over-year increase in more than three years while price declines moderated but continued to be influenced by entry-level and distressed sales, according to the Illinois Association of REALTORS® (IAR). Statewide home sales (which include single-family and condominiums) totaled 32,460, up 0.3 percent from 32,358 home sales in the third quarter of 2008. The third quarter median home sale price was $165,000, down 12.9 percent from $189,500 in the third quarter of 2008. The median is a typical market price where half the homes sold for more, half sold for less.

Washington, DC - November 9, 2009 - (RealEstateRama) -- Congressman David Scott voted to stimulate the local economy and provide stability to Georgia families hit hardest by the recession by extending unemployment benefits, the homebuyers' tax credit, and tax relief for military families. The Emergency Unemployment Compensation Extension Act will provide immediate assistance to millions of families.

ORLANDO, FL - November 9, 2009 - (RealEstateRama) -- Potential homebuyers have even more incentive to purchase a Florida home, according to Florida Realtors, thanks to the extension and expansion of the federal $8,000 first-time homebuyer tax credit.

Washington, DC - November 9, 2009 - (RealEstateRama) -- This week, the House voted on legislation to extend the $8,000 first-time homebuyer tax credit through April 30, 2010, which is currently set to expire December 1, 2009. The bill also expands eligibility of the credit, raising the income eligibility cap on individuals to $125,000 and $225,000 for married couples, up from $75,000 and $150,000 respectively, and homes sold for more than $800,000 are ineligible.

Washington, DC - November 5, 2009 - (RealEstateRama) -- Today, Congresswoman Kathy Dahlkemper (PA-3) voted to extend relief to unemployed workers, local real estate markets, and provide much-needed help to businesses and families.

WASHINGTON, DC - November 4, 2009 - (RealEstateRama) -- This evening, the U.S. Senate passed legislation to extend unemployment insurance for laid off workers. Senator Robert Menendez (D-NJ) was a co-sponsor of the legislation and voted in favor of its passage.

WASHINGTON, DC - November 5, 2009 - (RealEstateRama) -- U.S. Rep. Ron Kind (D-WI) today voted in favor of the Worker, Homeownership and Business Assistance Act of 2009, a bill that will help continue America’s economic recovery by extending and improving the homebuyer tax credit, providing homebuyer benefits to military families, and extending unemployment benefits.

Omaha, NE - November 4, 2009 - (RealEstateRama) -- Nebraska’s Senator Ben Nelson today voted to provide additional benefits to thousands of unemployed Nebraskans, and to extend the First-Time Homebuyer Tax Credit that already has helped more than 10,000 Nebraskans buy homes and created hundreds of jobs in new home construction in Nebraska.

WASHINGTON, D.C. - November 5, 2009 - (RealEstateRama) -- As the author of one of the first bills to extend the tax credit for home buyers, U.S. Rep. Howard Coble (R-NC) today praised passage of a bill that will extend the credit through next April and will make additional home buyers eligible for the tax credit.

Washington, DC - November 5, 2009 - (RealEstateRama) -- Rep. Peter Welch on Thursday voted to provide an additional 14 weeks of unemployment benefits to those hit hardest by the recession and to extend the popular First-Time Homebuyer Tax Credit until the end of April.

WASHINGTON, D.C. - November 5, 2009 - (RealEstateRama) -- The U.S. House of Representatives today gave final approval to a bill backed by Rep. John Spratt (D-SC) that would extend unemployment benefits, the homebuyers' tax credit, and the tax relief for military families and businesses.

Washington, D.C. - November 5, 2009 - (RealEstateRama) -- U.S. Representative Rick Larsen (WA-02) voted today to approve a package of unemployment insurance benefits and tax credits for first-time homebuyers and businesses facing financial losses.

WASHINGTON, DC - November 5, 2009 - (RealEstateRama) -- Congressman Steve Kagen, M.D. continued to take action to put our economy on the road to recovery.

COLUMBUS, OH - November 6, 2009 - (RealEstateRama) -- Funding made possible through the American Recovery and Reinvestment Act (ARRA) will support the creation of over 750 units of new affordable housing in 17 Ohio communities.

Washington, D.C. - November 5, 2009 - (RealEstateRama) -- Congressman J. Randy Forbes (VA-04) today voted in favor of H.R. 3548 to extend the $8,000 first-time homebuyer tax credits to April 30, 2010.

Washington,DC - November 6, 2009 - (RealEstateRama) -- U.S. Rep. Nick J. Rahall (D-W.Va.) worked to extend unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses to help stimulate the local economy and provide stability to American families hit hardest by the recession.

Washington,DC - November 6, 2009 - (RealEstateRama) -- U.S. Rep. Nick J. Rahall (D-W.Va.) worked to extend unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses to help stimulate the local economy and provide stability to American families hit hardest by the recession.