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National Real Estate News

USGBC Commends President Obama’s Memorandum to Accelerate Energy Efficiency in Building Facilities and Operations

Today, President Obama signed a memorandum directing the federal government to consume 20 percent of its electricity from renewable sources by 2020, more than double the current level. Rick Fedrizzi, president, CEO and founding chair of the U.S. Green Building Council, released the following statement: More…

Housing Markets Continue Slow Climb Back to Normal

WASHINGTON, D.C. – December 5, 2013 – (RealEstateRama) — Markets in 54 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released today. The index’s nationwide score of .86 indicates that, based on current permits, prices and employment data, the nationwide market is running at 86 percent of normal economic and housing activity. More…

HUD SECRETARY DONOVAN STATEMENT ON MORTGAGE SETTLEMENT MONITOR’S REPORT

A new set of reports from Joseph A. Smith, Jr., the Monitor of the National Mortgage Settlement, shows that the nation’s largest mortgage servicers failed to meet 7 metrics in the most recent reporting period, 5 of which were mentioned in his previous reports. More…

Mercy Housing becomes inaugural partner in Better Buildings Challenge multifamily housing expansion

National affordable housing nonprofit Mercy Housing is pleased to announce that it is one of the inaugural multifamily housing partners joining President Obama’s Better Buildings Challenge. The U.S. Department of Energy (DOE) and the U.S. Department of Housing and Urban Development (HUD) recently announced the expansion of the President’s Better Buildings Challenge to include multifamily housing. DOE and HUD recognize the energy efficiency commitment that Mercy Housing is making as a Better Buildings Challenge Partner. More…

Fannie Mae Publishes Multifamily DUS® Prepayment History Report

In an effort to increase transparency of Fannie Mae Multifamily DUS loans, an enhanced Multifamily DUS Prepayment History Report is now available. This report provides over ten years of historical voluntary and involuntary prepayment data for Fannie Mae fixed-rate multifamily loans. The loans represented in this report generally have similar terms and yield maintenance characteristics as DUS loans underlying multifamily MBS issued today. The report segments the historical prepayment data by relevant loan characteristics which potentially impact security performance, including vintage, loan term, loan size, original loan-to-value (LTV), asset class and geographic region. More…

Polis Pushes for Renewable Energy Standard Letter to Budget Committee calls for parity between defense and non-defense cuts in any sequestration deal

Representatives Jared Polis (CO-02), Ben Ray Luján (NM-03), and Ann McLane Kuster (NH-02) introduced the Renewable Electricity Standard Act of 2013, which would establish the first national renewable energy standard, requiring utilities to generate 25 percent of their electricity from renewable energy sources like wind, solar, and biomass by 2025. Over the next twelve years the bill gradually increases renewable energy production from 6 percent by 2014 to 25 percent by 2025. Municipal and publicly-owned power facilities and rural electric co-ops are exempt from the bill. More…

New Resilience STARTM Home Program Uses IBHS Construction Standards

The U.S. Department of Homeland Security (DHS) recently announced a Pilot Project for its new Resilience STARTM Home program, which will utilize construction standards developed by the Insurance Institute for Business & Home Safety (IBHS) to ensure homes meet DHS’ resiliency requirements. More…

Addressing Poverty and Homelessness in the United States

Today, the Center for American Progress released a new repor that examines the state of poverty and homelessness in the United States and puts forth a set of policy recommendations for increasing access to affordable housing and addressing income inequality. More…

States Real Estate News

SCHUMER: NEARLY 6,000 VETS LIVE IN HERKIMER COUNTY BUT MANY DON’T UTILIZE PROPERTY TAX BENEFITS AVAILABLE TO THEM – FEDS FAIL TO LET LOCALITIES KNOW VETS ARE RETURNING HOME & THEN VETS CAN’T BE NOTIFIED OF AVAILABLE TAX BREAKS

With More Young Vets Returning Home From Iraq & Afghanistan, It’s Time for the Feds to Ensure That Vets Use Local Property Tax Benefits – Worth Thousands a Year in Herkimer County – And Other Critical Benefits They’ve Earned
Schumer Calls on the VA to End Disconnect Between the Feds Discharging Vets & the Localities That Distribute Property Tax Credits to Them
Senator Also Urges Facebook, Google & Others to Join in Online Ad Campaign to Reach Younger Vets and Boost Awareness in New Ways. More…

PA Treasurer McCord Returns More Than $14,000 in Unclaimed Property to Pennsylvania United Way Members

More than $14,000 in unclaimed funds is on its way back to several United Way members across Pennsylvania, State Treasurer Rob McCord announced today as he presented a mock check representing the amount to leaders of the United Way of Pennsylvania today. More…

IRS and California Franchise Tax Board declare California distressed home sellers not liable for federal or state income tax on short sales

The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) announced today it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization (BOE) member George Runner, clarifying that California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a short sale. More…

Disabled Veterans Reminded to Contact Local Municipality to Qualify for Property Tax Exemption

The Michigan Department of Treasury is reminding U.S. Military veterans, deemed to be 100% disabled as the result of military service, that they must file an affidavit with their local unit of government confirming eligibility for property tax relief provided under Public Act 161 of 2013, which Gov. Rick Snyder signed into law last month. More…

Passage of NAR Top Priorities critical before the end of the year

This week, NAR has sent letters to legislators on Capitol Hill highlighting the three major pieces of legislation that need to get finished before the year ends:
Flood Insurance: H.R. 3370 / S. 1610. The Call for Action is still live as well. There are currently 142 cosponsors in the House & 24 cosponsors in the Senate. More…

Las Vegas Homeowners With Fannie Mae Mortgages Eligible For Foreclosure Prevention Assistance

The city of Las Vegas has partnered with Fannie Mae and Financial Guidance Center to offer free mortgage assistance to local homeowners with a Fannie Mae mortgage on Friday, Dec. 6, from 9 a.m. to 7 p.m. and Saturday, Dec. 7, from 9 a.m. to 2 p.m. at the Financial Guidance Center, located at 2650 Jones Blvd. More…

O’Scanlon Lauds $37.8 Million School Construction Grants for Monmouth County Schools

Assembly Republican Budget Officer Declan O’Scanlon today called the announcement by the Christie administration that Monmouth County will receive $37.8 million in school facilities grants “welcome news” for the Jersey Shore county. More…

Bridenstine Weather Bill Advances from House Science Committee

The Weather Forecasting Improvement Act (H.R. 2413), sponsored by Congressman Jim Bridenstine (R-Oklahoma), advanced from House Committee on Science, Space, and Technology on Thursday with strong, bi-partisan support. The legislation makes the protection of lives and property the top priority of the National Oceanic and Atmospheric Administration (NOAA). More…

Third Installment of the “Building Bridges in the Community” Outreach Forum

WASHINGTON, D.C. – December 5, 2013 – (RealEstateRama) — Colonel Steven G. O’Donnell, Superintendent of the Rhode Island State Police and Commissioner of the Rhode Island Department of Public Safety, announces that the John Hope Settlement House will host “Building Bridges in the Community” Outreach Forum, in conjunction with Project Night Vision and the Mount Hope Neighborhood Association, to be held: More…

MAAR’s Commercial Council Earns ACE Award

The Memphis Area Association of REALTORS® Commercial Council has been honored with a 2013 ACE Award, for Accredited Commercial Excellence. “The Memphis Area Association of REALTORS® continues to demonstrate their commitment to their REALTOR® members who are engaged in the business of the commercial real estate industry, while also being an active contributor to the overall community,” said Jean Maday, Director of Commercial Development & Outreach Services at the National Association of REALTORS®. More…

THE GENEROSITY OF SAN DIEGANS MADE A DIFFERENCE FOR 854 HOMELESS SAN DIEGANS AT THE 8TH PROJECT HOMELESS CONNECT – DOWNTOWN

Participants received clothing, food, flu shots, dental exams and other services
Karrie, who is staying with her 9-year-old son and 7-year-old daughter at the San Diego Rescue Mission, received free dental exams for herself and her children and other services at The 8th Project Homeless Connect-Downtown (Project Homeless Connect). More…