50+ Housing e-Source - 10/30/2009 (Plain Text Version)

Pat Kelley
50+ Housing Council Chair

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In this issue:
50+ Housing to Be Featured at 2010 International Builders’ Show
Amendment in the Works to Extend and Expand Buyer Tax Credit
Appraisal Groups Respond to NAHB Testimony
New FHA Condo Approval Process Effective In December; Changes Anticipated
Celebrate Star Power at the 2010 Designation Achievement Reception
An Innovative Approach from a Life Member of the 50+ Housing Council
Highlight Your Firm's Safety Record — Enter the SAFE Awards
Take Advantage of NAHB Discount for 2009 AARC Conference
Webinar Nov. 12: Are You Prepared for the Recovery?
Calendar

Amendment in the Works to Extend and Expand Buyer Tax Credit

Sens. Johnny Isakson (R-Ga.) and Christopher Dodd (D-Conn.) have offered an amendment to extend and expand the$8,000 first-time home buyer tax credit. They expect to attach the amendment to a House-passed bill that would extend unemployment insurance benefits. Though it is unclear if the Senate will act on this proposal, NAHB will be urging senators to approve the amendment if it comes up for a vote.

The Isakson-Dodd proposal would extend the credit to June 30, 2010, and expand it to a wider circle of principal home buyers. It also would double the current income eligibility limit to $150,000 for single taxpayers and $300,000 for married taxpayers filing a joint return.

Reporting on the Isakson-Dodd plan, the Associated Press cited NAHB statistics that extending the credit for one year and expanding it to all buyers of a principal residence would spur 383,000 additional home sales, create more than 347,000 jobs, generate $16.1 billion in wages and salaries and $12.1 billion in business income.

Read more in NAHB's Washington Update.

For more information, e-mail Greg Brown or call him at 1-800-368-5242, ext. 8421.