Homebuyer Tax Credit
Congress Votes to Extend & Expand
Yesterday, following approval by the U.S. Senate (98-0) earlier in the week, the U.S. House voted 403-12 to extend and expand the homebuyer tax credit as part of the Unemployment Insurance/benefits extension bill. The legislative package is pending the President’s signature.
Here is a link to an NAR Issues Brief: http://takeaction.realtoractioncenter.com/ct/J7S_I-K1MTLc/
Indiana Is Home – Affordable Housing Thrives!
On October 22, IAR released the sixth Indiana Real Estate Markets Report. The Report, found online at http://www.indianaishome.com/4_0_Reports.asp, is the first-ever county-by-county comparison of existing single-family home sales in the state. Download the report and find out how your county fared. While there, be sure to catch the video, Affordable Housing Thrives!
It is based on a new element of the Report, an affordability index, which compares the median income to the income that is required to purchase a median-priced home. As of August 2009, a family with Indiana’s median income can afford 240% of the state’s median home price. The report makes a strong case for becoming a Hoosier homeowner.
Focus on Government Affairs – Short Sale Complaint Process
Per legislation from 2008, it is now Indiana state law that a lender must acknowledge a short sale offer within 10 days of receipt and accept or reject the offer within 30 days of receipt. read more
Indy Region Tops Affordability List Again
The just released Housing Opportunity Index (HOI) reveals that Indianapolis was the most affordable major housing market in the country in the 3rd quarter of 2009. This is the 17th consecutive quarter Indy has received the top ranking. Nearly 95 percent of homes were affordable to households earning the median income. The Housing Opportunity Index is a measure developed by the National Association of Home Builders and Wells Fargo.
Cap and Trade Misinformation
Lately, there seems to have been a significant influx of misinformation regarding the American Energy and Security Act (often referred to as Cap and Trade) making its way from mouth to mouth and e-mail in-box to e-mail in-box. This has left many asking if this bill requires a government energy audit before a home can be sold. The answer is no. read more
Debate Over Property Tax Caps Continues
Last week marked the official start of the 2010 legislative session of the Indiana General Assembly. Tuesday was “Organization Day,” the official start of the legislature. While mostly a ceremonial day, legislators wasted no time staking positions on several priority issues – one of which are the caps on property taxes. read more