congress: 28th Amendment - Is it Time?
- 04/21/11 03:32 AM
Here's a good start..... Brilliant concept! Start the 28th Amendment The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971...before computers, before e-mail, before cell phones, etc. Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land...all because of public pressure. I'm asking each addressee to forward this email to a minimum of twenty people on their address list; … (2 comments)
congress: Repeat and Reep the Benefits - Tax Credit Bonanza for Repeat Buyers
- 11/14/09 04:31 PM
The President of the United States signed legislation on November 6th, 2009 that became effective immediately, allowing current homeowners, or ‘repeat buyers' to claim a tax credit of up to $6,500 for the purchase of a replacement home.This is the same law that extended the current $8,000 tax credit to first time homebuyers and raised household income levels. This article will focus on the repeat buyer aspect of the bill.THE BASICSBefore we get into how it works, lets figure out who it works for. It should be pointed out right now that there is no requirement to ‘move-up' at all and … (6 comments)
congress: Does the $8,000 Tax Credit Have a Future?
- 10/27/09 09:54 AM
PRELUDEBefore I get into the story, let me share how I found out about the news...I was reading my email. Got some sort of promo from American Express to allow my Twitter Tweets to be broadcast on their service PULSE. So, I allowed myself to be distracted and signed up for the 'new' service, before it slipped away from me. The end result I was on my Twitter page (which I really do try to avoid during business hours = for obvious reasons). Here I read a short TWEET by Schottfinancial who simply said "Tax Credit Extension Seems Likely" and then … (3 comments)
congress: Blood In - Blood Out...New FHA Rules Before Congress
- 10/05/09 03:28 AM
Congress has another band-aid they want to put on the economic crises this country and the world are currently experiencing...at a cost that would be picked up by a segment of the population that can least afford it - first time homebuyers.The goal of a new bill, H.R. 3706, introduced by Rep Scott Garrett (R-NJ) on October 1, 2009 would raise the minimum down payment for FHA backed loans from the current 3.5% of purchase price by over 42.8% and require buyers to raise 5% just for the down. The bill, is known as the "FHA Taxpayer Protection Act of 2009"Federal … (8 comments)
congress: What is the Fate of the First Time Home Buyer Federal Tax Credit?
- 08/27/09 03:30 AM
Currently, one of the most driving forces in the Hemet - San Jacinto Valley Real Estate Market has been first time homebuyers scrambling to take advantage of the $8,000 tax credit (10% of Purchase Price - Max $8,000) that was created as a stimulus to the economy. In my opinion, the program is very definitely a success. Yes the IRS may be out a few dollars; but look at the trickle down economics that is stimulating local economies. Not only are houses selling quicker than any time during the current housing crises, but new homeowners are spending thousands of dollars fixing … (3 comments)
congress: FHA Down Payment Assistance Ready to Go Away
- 08/02/08 03:17 PM
When President Bush signed HR 3221 into law on July 30th, 2008, he took what may be the most damaging step to actually hurt the housing market. I say this because he has completely done away with the FHA Down Payment Assistance program and raised the minimum percentage of funds that the borrower must contribute towards the purchase of the home. Until September 30th, 2008, homebuyers will be able to take advantage of the current program-but if they are not in escrow by then-they can kiss the 3% seller contribution good bye, unless there is some sort of reprieve in the courts. … (2 comments)
congress: Who is Freddie and Fannie and What do they Do?
- 08/02/08 02:37 PM
There has been a lot of buzz in the air with Congress passing and the President signing the new housing bill into law on July 30th, 2008. I have not read the bill itself, but have seen numerous analytical articles - both pro and con on the topic. One of the big provisions has to do with the government guaranteeing an amount of up to three hundred billion dollars to help Fannie Mae and Freddie Mac. These two entities guarantee roughly half the loans in the United States. Being in the real estate industry it is easy to forget that everyone doesn't have … (0 comments)
congress: Where Does NAR Stand on the "Do Not Call List"?
- 12/13/07 12:37 AM
Earlier this month, The United States House of Representatives voted and passed a measure, The Doyle-Pickering bill, referred to as the Do-Not-Call Improvement Act of 2007 (H.R. 3541), that would make phone numbers a permanent addition to the "Do Not Call List", instead of the 5 year period numbers are currently registered for. The matter is now pending in the U.S. Senate as Senate Bill 2096.The measure will eliminate the need for consumers from Hemet CA, or any where else in South West Riverside County, The Inland Empire or elsewhere in the country from having to renew their phone number every … (4 comments)
congress: Can A Hemet Realtor Help a Hemet Homeowner in Foreclosure?
- 09/24/07 05:53 AM
Many times I hear Hemet homeowners ask if I can "Help save my home from foreclosure?" or as a Hemet REALTOR® can I "Stop the foreclosure?"I wish I could just answer "Yes" to every one of the times I am asked...but there are limitations and never any guarantees. There is only one guaranteed way to stop a foreclosure in Hemet California and that is to bring the arrears current - and most Hemet homeowners who ask me these sensitive questions just cannot afford to do that. I explain that as a REALTOR® I am recognized by Freddie Mac, the Premium Mortgage Insurance … (5 comments)
congress: NAR Needs Your Help With Congress
- 09/16/07 02:37 AM
NAR Needs Your Help With Congress: The National Association of REALTORS® (NAR) sent out an email alert to its members asking for help with pressing business now before the United States Congress. I was made aware of this call to action from another blog article, written by Chris Elizabeth Griffith. I thought the message was important enough to rehash here and call for even more REALTORS® to realize that their one voice is important and our collective voice is a voice that is to be heard and reckoned with. NAR would like all of its REALTOR® members to contact their respective … (7 comments)
congress: Is That Congress I See on the Big White Horse?
- 07/16/07 05:29 AM
Is That Congress I See on the Big White Horse? by John Occhi, Hemet CA REALTOR Mission Grove Realty Anyone who does not have their head buried in the sand knows that the United States is on the verge of some sort of financial disaster as a result of repercussions of the blows the housing industry has recently taken. There are of course many opinions as to what the actual crises are, who is to blame and how do we prevent the worst case scenario. That is not the purpose of this article. Ultimately, many families will lose their home either … (27 comments)
congress: What Does a New Congress Mean to Real Estate?
- 01/05/07 06:11 AM
What Does a New Congress Mean to Real Estate?by John Occhi, Hemet REALTOR® As I am sure you know, the new 110th Congress was sworn in to office yesterday with the Democrats taking control for the first time since before Bill Clinton left the White House. Many of us on the ‘right' cringe when we think of some of the things that may happen in the next couple of years. However, this morning, when I read an update from the National Association of REALTORS (NAR) I was more than pleased to see one of the very first actions they have taken is to introduce … (2 comments)
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