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President Signs Tax Reform Bill

Last week, President Trump signed the Tax Cuts and Jobs Act tax reform bill. All individual provisions of the measure are generally effective after December 31, 2017 for the 2018 tax filing year and expire on December 31, 2025 unless otherwise noted. The provisions do not affect tax filings for 2017 unless noted. “This tax legislation will […]

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A Potential Mortgage Cap?

“The potential mortgage cap would hit those of us in the Bay Area harder than in other parts of the state or county because the higher cost of housing here with a Bay Area median housing cost in the $800,000 range and a state cost in the $550,000 range. The potential mortgage cap definitely represents […]

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Increased Conforming Loan Amounts

C.A.R. issued the following statement in response to the Federal Housing Finance Agency’s (FHFA) announcement to increase the 2018 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $453,100 on one-unit properties and a cap of $679,650 in high-cost areas. The previous loan limits were $424,100 and $636,150, respectively. “C.A.R. applauds […]

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A Possible Elimination of Interest Deduction?

“I think the loss of the interest deduction would be disastrous for our state and area.  The loss of the mortgage interest deduction would likely act as a disincentive to potential home buyers by eliminating one of the prime benefits for home ownership…It feels like we are being punished because we live in a high […]

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Social Benefits of Owning a Home

Improved educational performance, higher civic participation, lower crime rates, and improved health remain the biggest social benefits linked to homeownership, according to a new research paper by NAR Chief Economist Lawrence Yun and research economist Nadia Evangelou, which appears in The Journal of the Center for Real Estate Studies. “Stability in the workplace and stability […]

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Fire Victims Get Offered Disaster Relief

The U.S. Department of Housing and Urban Development announced it will offer relief to disaster victims of the recent California wildfires, including foreclosure suspensions and other assistance to certain homeowners in the affected counties. “President Donald J. Trump Approves California Disaster Declaration”- The White House, office of the Press Secretary The fires are being called […]

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