THIS SPEAKS TO ALL CONCERNED AMERICANS-WE ALL NEED TO "SCREAM IT FROM THE ROOF TOP" THAT HOUSING HAS TO BE A PRIORITY IN THE CURRENT SENATE TALKS:
The Great News is that we are making progress! However, we must continue to follow through. Even if you recently made a call or send an email to your Senator, do it again. Today would be best.
I speak to all REALTORS, AFFILIATE REAL ESTATE PROFESSIONALS,CITIZENS WHO OWN HOMES or WANT TO OWN A HOME, ANYONE WHO OWNS ANY BUSINESS or WORKS FOR AN INDUSTRY THAT IS CURRENTLY AFFECTED BY THE ECONOMY- OR COULD YET BE AFFECTED BY THE SERIOUS SITUATION AT HAND. Housing fuels all things economy and sadly, the previous mistake made are a big reason why our country is in its present condition. This is for all of us to act upon... so please follow through with the task at hand.
The information below is the best update and plea for help that I have seen. I received late this week from the Building Industry Association of Stark County, Ohio. It spells the facts out, and directs you to a call to action that can be quickly completed. Please read:
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To All BIA Members:
We have made GREAT progress-from housing barely being discussed in the stimulus bill to now being a key part of the discussion-and we need to keep the heat on our Washington lawmakers. You know that REPEAT advertising is important-and REPEAT lobbying through your phone calls and emails can be very important. Even if you called or emailed your lawmakers just a day or two ago, please do so again-today if possible. The phone number is toll free and you'll be in touch with the staff of your lawmakers easily and quickly. Just your leaving a message with their staffers is very important and helpful.
Visit www.fixhousingfirst.com to call or email our Senators
It is YOUR EFFORTS that have gotten us to the point where the Senate yesterday approved the package below. To keep this package all the way through to the President's desk for signing, we need one more week of strong contact from you, your family, friends, neighbors and employees. Thank you!
Senator Isakson's/Senator Lieberman's Home Purchase Tax Credit:
· A tax credit in the amount of $15,000 or 10 percent of the purchase price (whichever is less)
· The tax credit is available to all purchases of any home from date of enactment for one full year.
· Able to claim the credit against the 2008 tax return.
· Buyers must occupy the homes for two years as their principle residences.
· Purchases of homes by investors are ineligible
· Sunsets the previous $7,500 Housing Tax credit on the date of enactment
We anticipate that Senator Ensign will introduce the McConnell substitute which we should include a tax credit proposal that will include a mortgage buy down around 4 - 4.5%.
As an aside, on the buy down-front, we are hearing that HUD and the Administration are close to unveiling their "housing" bill, which may include a buy down; possibly TARP-focused. Clearly the message from the Hill is that a buy down is an important part of a housing recovery and we're hopeful that the Administration reacts accordingly.
Monetization is viewed by the Hill as a very complicated process. We continue to push for monetization as an essential component to our plan and I encourage you to continue to stress this point with your representatives.
Also we are anticipating Senator Landrieu to offer an amendment for the extension of low-income housing credit rules for buildings in GO Zones.
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Building Industry Association of Stark County
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-Pam Oster, REALTOR Canton, Ohio 2/7/09
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