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Dennis Norman 07/17/10-Correction – This past week Congress passed H.R. 4173, the Wall Street Reform and Consumer Protection Act which is the most comprehensive reform to the banking industry since the Great Depression. The bill now awaits President Obamas signature which is expected to happen in the coming week. This is a Continue reading… Financial Reform Bill Kills HVCC; Helps Appraisers Dennis Norman Last month the U.S. House of Representatives passed H.R. 4173, the “Wall Street Reform and Consumer Protection Act of 2009″, which contained a provision that would “sunset”, or put an end to, the Home Valuation Code of Conduct, which, since it went into effect back in May of last year has been controversial to Continue reading… Pending Legislation would end HVCC Dennis Norman By: Dennis Norman The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, (expires November 30) and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee yesterday. NAR Regional Vice President Joseph Continue reading… Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery; HVCC a problem, Says NAR By: James R. MacCrate, MAI, CRE, ASA In the current unstable real estate market, we hear reports from the National Association of Realtors and many economists that the real estate residential housing market is stabilizing. This is based on several factors including recent price increases in several metropolitan markets, an increase in pending contracts of sale, Continue reading… Incentives, Concessions, Tax Credits and Tax Abatements Dennis Norman By: Dennis Norman Yesterday I did the first post of a series of my E-View with Frank Gregoire, a Florida appraiser and author of Appraiser Active. Florida Governor Jeb Bush appointed Frank to the Florida Real Estate Appraisal Board where he served for eight years as a member, four of which as Chairman. Francois (Frank) K. Continue reading… The real estate market and HVCC; from an appraisers perspective – Part 2 of a series Dennis Norman By: Dennis Norman One of the hot topics in our industry now is the Home Valuation Code of Conduct (HVCC) which, according to REALTORS(R) have cost them sales due to low appraisals, and according to appraisers has resulted in degradation of appraisal quality as a result of appraisals being done by appraisers that are not Continue reading… The real estate market and HVCC; from an appraisers perspective – Part 1 of a series Charles McMillan 2009 President, NAR By: Dennis Norman National Association of REALTORS(R) 2009 President, Charles McMillansent an email to members stating “as a direct result of my recent meetings with the New York Attorney General’s office, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this week issued new guidance to all lenders on the Continue reading… NAR’s President Charles McMillan’s meeting with NY AG re HVCC produces results By: Dennis Norman Lawrence Yun, Chief Economist, NAR The National Association of REALTORS(R) issued their Pending Home Sales Index Report for May which showed a very modest increase of 0.1% on the index, over April, however May marks the fourth month in a row the index has increased. It was almost five years ago (October, 2004) the last Continue reading… Pending home sales increase again in May – Fourth month in a row |
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