Archive for Federal Tax Credit
NAHB Urging Congress to Keep Homeownership Affordable
The National Association of Home Builders (NAHB) is urging Congress to maintain its support for vital housing tax incentives, including the Low Income Housing Tax Credit, the mortgage interest deduction and real estate tax deductions, to meet the nation’s growing need for affordable rental housing and homeownership opportunities. U.S. Census data shows that more than [Read More]
Chicago Real Estate Sales Expectedly Down
The sale of homes in Illinois and the Chicago area fell in the second quarter of this year, but to truly gauge the condition of the Chicago real estate market, we are going to have to wait for third-quarter results. According to the Illinois Association of REALTORS, total existing home sales around the Chicago metropolitan [Read More]
A Week Later: Your Thoughts on the Housing Market?
Chicago and the U.S. received another round of gloomy forecasts for the real estate market last week. According to the Equifax Personal Finance Blog, a wide array of different sources confirmed the bad news for American homeowners, would-be buyers and the housing market as a whole. Real estate expert Ilyce Glink reported this news in her [Read More]
Single-Family Home Sales Provide Positive Chicago Real Estate News
The Chicago real estate market posted an increase in sales and median price for the month of February, due mostly to the single-family home sector. Total home sales last month rose 2.1 percent from January in the city of Chicago, according to the Illinois Association of REALTORS latest report. The median home price saw an [Read More]
Home Prices, Sales, Jobs Starting to Point to Recovery
Some stats to report on the national and Chicago real estate fronts that should give us a little hope for the future. First, home prices. According to the National Association of REALTORS, the national median existing single-family home price rose 0.2 percent in the fourth quarter of 2010 compared to the fourth quarter of 2009. [Read More]
What We Need Is Another Home Buyer’s Tax Credit
Each month this year that Chicago real estate sales have increased, experts have attributed the rise to the Federal Home Buyers Tax Credit. July was the first month that buyers could not qualify for that tax credit, so analysts were expecting a drop in sales. They got it. According to the Illinois Association of Realtors, [Read More]
