stimulus bill: Massachusetts Prepares for its Share of the Stimulus Money - 02/17/09 08:04 AM
Today, President Obama signed into law a stimulus bill that will release the biggest influx of federal dollars since Lyndon Johnson's Great Society program.  The $787 billion package is aimed at reversing the country's economic problems with billions going to individual states. 
Governor Deval Patrick has appointed real estate developer, Jeffrey Simon to oversee the money that will flow into Massachusetts.  With 30 years of experience in the real estate industry, Simon oversaw the redevelopment of several closed military bases, including Fort Devens in Massachusetts and four bases in Bermuda.  Simon's title will be Director of Infrastructure Investment and will be paid a … (0 comments)

stimulus bill: Update - $15,000 Home Buyer Tax Credit Cut from Stimulus Bill - 02/13/09 10:44 AM
The much-anticipated $15,000 tax credit for homebuyers has been scaled back to an $8,000 tax credit for first time home buyers only.   
A few days ago, following extensive lobbying in Washington, home builders and realtors had hailed the proposed $15,000 tax credit.  Charles McMillan, President of the National Association of Realtors, had indicated that the credit might lead to 1 million additional home purchases.  Toll Brothers' CEO, Robert Toll had said, "The $15,000, I have no doubt, will make the greatest difference."  Pulte Home Builders' CEO, Richard Dugas was urging Congress to push the credit up to $20,000 or more and … (2 comments)

stimulus bill: A $15,000 Tax Credit for Home Buyers - Massachusetts Blog - 02/09/09 09:58 AM
The federal government is working on a plan to stimulate the currently sagging housing market.  In the Senate, a "voice vote" has been made to propose a $15,000 tax break for homebuyers.  
More details are emerging about the amendment to the pending economic stimulus bill, which is the brainchild of Georgia Senator Johnny Isakson, a former real estate broker.    
Unlike the current $7,500 housing tax credit, the new credit would be available to all home buyers and would not have to be paid back.  The $7,500 plan that is now in place is offered only to first-time home buyers and requires … (1 comments)