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Tax Credit Closing and Flood Insurance ExtensionsCategory: Real Estate News | Permalink Published: Thursday, July 01, 2010 Today the National Assocaition of Realtors praised Congress for the passing of two bills to extend the home buyer tax credit closing deadline and reauthorize the National Flood Insurance Program. Both of the bills cleared the House beforehand and were accepted by the Senate last night. THe bills are now headed to the president for his signature. The tax credit closing cut-off date and the National Flood Insurance Program reauthorization were extended to September 30th. The National Association of Realtors worked directly with congressional leaders on both of the sides to perform these key parts of legistration. By extending the tax credit deadline and the Flood Insurance closing date it will provide further stability to real estate markets across the nation. "what a great way to begin celebrating our nation's most patriotic holiday by opening the door to the American dream of homeownership to thousands of home buyers who would have been shut out of the homes of their dreams thrugh no fault of their own," said the National Association of Realtors President Vicki Cox Golder. The passage of H.R. 5623, the Homebuyer Assistance and the Improvement Act, affects the homebuyers tax credit closing deadline extension just to homebuyers who have authorized agreements as of April 30, 2010, but couldn't close sooner than June 30, 2010. THe legislation is designed to create a seamless extension of the new closing deadline for eligible transactions to September 30, 2010. THere will be no gap between June 30th and the date the president signs the bill into law. Other Recent Articles1.) Before agreeing to handle a task from a client: Make sure that you're the most qualified person to deal with it. If a client wants to appoint you for a task beyond your field of knowledge, suggest someone else who could carry out the task better rather than putting your reputation at risk. Who knows, maybe later down the line that same client will call and seek help in your area of expertise. 10 Important Tips to Successful Real Estate InvestingCategory: Real Estate News Published: Monday, July 12, 2010 1. Compare property values and rents: The best way to determine the market vaulue of the property is to find out the selling prices of nearby properties in the community. The same applies to properties for rent. A low cost is regularly justified by a sensible rent; renters who can meet the expense of a higher rent can afford to buy as an alternative, so reasonably priced rent is a must. Studies Say Minorities Hurt More By ForeclosuresCategory: Real Estate News Published: Monday, July 05, 2010 According to a new study, recent African-American and Latino home borrowers were highly more likely to lose their homes to forclosure than those who are non-Hispanic whites throughout the continuing housing crisis, regardless of their income. As their income increased, in fact, minority horrowers foresaw the probability of foreclosure growing even larger in contrast to non-Hispanic white borrowers in the identical income group. Credit scoring is very important to the mortgage process. Behind the situation, a battle is rampaging over who can place claim to that process. The Fair Isaac Corp (FICO) was rejected a new trail concerning what it claims to undoubtedly be it's trademark; the act of rating an individual's credit on a scale of 300 to 850. Should You Buy Or Rent A Home? Cost Gap NarrowsCategory: Real Estate News Published: Thursday, April 29, 2010 Housing costs and depleted interest rates have formed a perfect time for many buyers to purchase homes, and a recent week-long glance at homeownership validates it. The nationwide analysis illustrates that the variation between monthly rents and mortgage costs is at it's lowest point in just about 20 years. Call Us Today!
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