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The Tax Cuts and Jobs Act – What it Means for Homeowners and Real Estate Professionals

The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR...

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Existing-Home Sales Soar 5.6 Percent in November to Strongest Pace in Over a Decade

WASHINGTON (December 20, 2017) — Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors®. All major regions except for the West saw a significant hike in sales activity last month. Total existing-home sales1, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes,...

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FHA Programs

NAR is a strong supporter of the single- and multi-family programs administered by the Federal Housing Administration (FHA). The FHA single-family mortgage program has played an important and vital role in the mortgage marketplace. The FHA program has a public purpose obligation to provide mortgage insurance to American families who choose FHA to meet their homeownership needs. Increasing...

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Homeowners Insurance

"Homeowners insurance covers the structure of your home and your personal property, as well as your personal legal responsibility (or liability) for injuries to others or their property while they're on your property." Homeowner's insurance policies may include provisions for: Dwelling (for damages to your house) Other structures (for damages to fences, garages, sheds, etc.) Personal property (for...

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Taxes

What is the fundamental issue? Real property taxes, along with other state and local taxes paid, are deductible for federal income tax purposes. According to the IRS, the average property tax deduction claimed in 2013 was $4,610. Without the deduction, taxpayers would be paying federal tax on funds already paid to state or local governments, which would be...

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Student Loan Debt

What is the fundamental issue? New research clearly indicates that the continued rise in student debt along with a weak labor market has a long-term impact on the ability of first-time homebuyers, particularly lower income consumers, to qualify for mortgages. Many of these potential borrowers find a significant portion of their total monthly debt is comprised of student...

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County Median Home Prices and Monthly Mortgage Payment

Applying the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS), we calculated a median home value for 3,119 counties and county-equivalents in the United States. Home values represent the value of all homes instead of home sales. Nationwide, we estimated that the price of a typical home was $213,099...

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Appraisal & Valuation

What is the fundamental issue? Over the past year, NAR members have identified several valuation issues impacting real estate transactions.  Most concerns are related to appraisals, including a perceived shortage of appraisers, the increased use of automated or alternative valuation methods, and the challenge of attracting new appraisers to the business. I am a real estate professional. What...

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Condominiums

What is the fundamental issue? While the Federal Housing Administration (FHA) has loosened its condominium approval requirements in recent years, many properties continue to struggle to meet overly stringent criteria and the majority of properties are being denied. I am a real estate professional. What does this mean for my business? Buyers and sellers of condominiums may find...

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Remodeling your home

Below is a slide show about Remodeling. Homeowners remodel their home for several reasons, one being to up the value or livability when they go to sell the home. Click below for more information. https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact

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