Create Your Own Buyer Stimulus Package

The Federal Government's Homebuyer Tax Credit may have expired on April 30, but just because Uncle Sam has turned off the financial spigot aimed at housing doesn't mean home buyers still can't get "something extra" during their purchase... click here for entire article and video.

Economic Stimulus Package in Perspective

The modified home buyer tax credit and the restoration of last year's high-cost conforming and FHA loan limits of $729,750 could boost 2009 home sales by 450,000, NAR Chief Economist Lawrence Yun estimates. When combined with the historically low mortgage interest rates stemming from NAR-backed actions taken by the Federal Reserve and U.S. Treasury Department earlier this year, the boost in home sales could total 850,000.

Details on What's in the Stimulus Package

Here are the provisions in the American Recovery and Reinvestment Act, signed into law by President Barack Obama, that will help residential and commercial real estate:
1) Home buyer tax credit: increased to $8,000 and repayment requirement eliminated
2) Conforming and FHA loan limits: last year's high-cost limits of $729,750 restored
3) Neighborhood stabilization: $2 billion in new funds authorized
4) Commercial real estate: tax credits allocated for business investment, green building, and energy efficiency
5) Rural housing development: $500 million in funds authorized
6) Low-income rental housing: Treasury grants authorized
7) Tax-exempt housing bonds: tax rules eased
8) Energy efficiency: grants and credits authorized
9) Transportation: $47 billion in infrastructure development and rehabilitation funds authorized
10) Broadband: $7 billion authorized to expand and upgrade infrastructure.

Obama Adviser Sees Stimulus Effects Next Month

RISMEDIA reports President-elect Barack Obama's top economic adviser said Sunday that the incoming administration's proposed $825 billion stimulus package will pass within a month and will have some immediate effects. Continued

Housing Stimulus Can't Wait

When Senate Banking Committee Chair Christopher Dodd (D-Conn.) conducted a hearing last week on the credit crisis, he took aim at banks' intention to use funds from the massive $700 billion federal rescue to shore up their financial position rather than tackle the liquidity problem in the mortgage market that was so core to the government's goal in passing its bill... click here for more.