New Bill Reforms EB-5 Program

On September 24, 2019, Senator Chuck Grassley (R-IA) and Senator Patrick Leahy (D-VT) introduced the EB-5 Reform and Integrity Act of 2019 to reauthorize and reform the EB-5 Regional Center Program that aims to prevent fraud and promote foreign capital investment and job creation in American communities. This legislation includes long-term reauthorization of the program [...]

By |2019-09-30T21:11:27+00:00September 30th, 2019|Uncategorized|0 Comments

EB-5 Program Reauthorized

On September 26, the Senate cleared H.R. 4378 — a short-term continuing resolution (CR) that funds the government through November 21, 2019. The CR prevents a government shutdown which would have occurred on October 1, 2019; and, importantly, it also ensures that the EB-5 Regional Center Programs authorization is extended. This short-term extension is welcome [...]

By |2019-09-30T20:34:29+00:00September 30th, 2019|Uncategorized|0 Comments

NAR Responds as National Flood Insurance Program Lapse Avoided

WASHINGTON (September 27, 2019) – National Association of Realtors® President John Smaby issued the following statement after President Trump signed H.R. 4378 into law Friday evening, extending the National Flood Insurance Program’s funding authority through November 21.“With this CR temporarily ending the threat of a program lapse, Realtors® urge Congress to resume working toward a long-term reauthorization [...]

By |2019-09-30T13:19:11+00:00September 30th, 2019|Uncategorized|0 Comments

Agencies Increase Residential Appraisal Threshold

On September 27, 2019, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively “the Agencies”) adopted a final rule increasing the threshold for requiring an appraisal in residential real estate transactions from $250,000 to $400,000. Federally related transactions under $400,000 [...]

By |2019-09-27T19:46:36+00:00September 27th, 2019|Uncategorized|0 Comments

IRS Improves Deduction Safe Harbor for Mixed-Use CRE

The Internal Revenue Service this week released final guidance regarding a safe harbor to help owners of real estate enterprises determine whether they qualify for the new 20% deduction for “qualified business income.” While the safe harbor is largely unchanged in most aspects, it does ease the requirements for owners of mixed-use real estate (commercial [...]

By |2019-09-27T19:40:09+00:00September 27th, 2019|Uncategorized|0 Comments

House Passes SAFE Banking Act

On Wednesday, September 25, the House passed H.R. 1595, the "Secure and Faire Enforcement (SAFE) Banking Act," by a bipartisan vote of 321 - 103. This bill, cosponsored by Representatives Ed Perlmutter (D-OR) and Steve Stivers (R-OH), creates a safe harbor for federally-insured financial institutions to provide services to cannabis-related businesses in states that have [...]

By |2019-09-27T18:20:37+00:00September 27th, 2019|Uncategorized|0 Comments

FHA Condo Rule: Its Impact on REALTORS® and Consumers

The U.S. Department of Housing and Urban Development (HUD) released the long-awaited final rule on project approval for single-family condominiums insured by the Federal Housing Administration (FHA). In this broadcast, hear NAR staff discuss the FHA condo rule and its impact on REALTORS® and consumers.For additional information about the FHA condo rule, visit the Condominiums [...]

By |2019-09-27T15:08:32+00:00September 27th, 2019|Uncategorized|0 Comments

Expanding Access to Credit

Last week the House Financial Services Committee passed a number of NAR-supported bills to expand access to credit. H.R. 123, the "FHA Additional Credit Pilot Program Reauthorization Act", was introduced by Rep. Green (D-TX). This bill would create a pilot program for the Federal Housing Administration to include alternative credit data when evaluating prospective homebuyers. [...]

By |2019-09-26T19:19:53+00:00September 26th, 2019|Uncategorized|0 Comments

Commercial Digest, September, 2019

The latest issue of The Counselor, the newsletter of The Counselors of Real Estate, highlights the 2019-2020 Top Ten Issues Affecting Real Estate. Also, Constantine Korologos, CRE, MAI, MRICS, and Jeffrey Lavine, Esq., discuss capital markets liquidity and sources of debt, while Laura Bailey writes about the benefits of creating an affordable community standard. Read [...]

By |2019-09-26T15:16:44+00:00September 26th, 2019|Uncategorized|0 Comments

Pending Home Sales Grow 1.6% in August

August Pending Home Sales Regional BreakdownAll regional indices are up from July, with the highest gain in the West region. The PHSI in the Northeast rose 1.4% to 94.3 in August and is now 0.7% higher than a year ago. In the Midwest, the index increased 0.6% to 101.7 in August, 0.2% higher than August [...]

By |2019-09-26T13:28:22+00:00September 26th, 2019|Uncategorized|0 Comments