Downpayment assistance (DPA) programs in the U.S. had a major beneficial impact on the economy last year, creating $38.6 billion in revenues, 235,000 jobs, and $4.6 billion in total tax revenues, according to an economic-impact study done by two well-respected California economists, Dr. Robert Waste and Dr. Robert Fountain.
Some highlights of their research:
More than 200,000 new and existing homes were sold last year with DPA. (The research covered the 12 months from December 2007 through November 2008.) Roughly 40% of all loans originated by the Federal Housing Administration used DPA.
Nehemiah's DPA program helped families purchase more than 78,000 new and existing homes last year. More than 25% of those sales were on foreclosed homes, effectively taking them off the market.
About 40% of the borrowers were households headed by minorities and more than one-third were headed by females.
Of 235,000 new jobs created last year, 195,000 came from new-home construction and the rest from new-home sales. DPA also accounted for $4.6 billion in total tax revenues last year.
Fact Sheet
Study Summary
Support H.R. 600
The Waste/Fountain Study supports the passage of H.R. 600 - FHA Seller-Financed Downpayment Reform Act of 2009, a bi-partisan bill introduced by Representative Al Green (D-TX). Reformed DPA will play a key role in generating homeownership at no cost to U.S. government or taxpayers, according to a Congressional Budget Office (CBO) report.
Send a letter to your elected officials in support H.R. 600 and DPA.
Saturday, January 31, 2009
Monday, January 26, 2009
Companies Remember Employees
In the mist of all the negative press on CEO's there are still uplifting stories that keeps hope alive.
David Weekley, the founder and CEO of David Weekley Homes, Inc. generously gave to all his employees nationwide a PERSONAL check of up to a maximum of $1000 depending on years of service. His letter sent with the check stated that not only did he appreciate the hard work during a trying time but that he and his family felt very fortunate and wanted to share with his David Weekley family.
Having worked for David Weekley Homes for many years as a lead sales consultant,I am proud now as a Realtor to sell David Weekley Homes and to have my company name next to them as well. If your next step is buying a new home, I highly recommend David Weekley Homes. I will be happy to help you build your dream home with them. They have mastered the building process.
The CEO of Best Buy also shared his good fortune with his staff. The board offered him an additional bonus which he refused. He decided the money should be given to the employees that keep the company moving forward every day. I will continue to shop at Best Buy and probably will not even check out the competition.
If the executives of these two companies care that much about the people who help run the business then I can only imagine how wonderful they treat their clients.
David Weekley, the founder and CEO of David Weekley Homes, Inc. generously gave to all his employees nationwide a PERSONAL check of up to a maximum of $1000 depending on years of service. His letter sent with the check stated that not only did he appreciate the hard work during a trying time but that he and his family felt very fortunate and wanted to share with his David Weekley family.
Having worked for David Weekley Homes for many years as a lead sales consultant,I am proud now as a Realtor to sell David Weekley Homes and to have my company name next to them as well. If your next step is buying a new home, I highly recommend David Weekley Homes. I will be happy to help you build your dream home with them. They have mastered the building process.
The CEO of Best Buy also shared his good fortune with his staff. The board offered him an additional bonus which he refused. He decided the money should be given to the employees that keep the company moving forward every day. I will continue to shop at Best Buy and probably will not even check out the competition.
If the executives of these two companies care that much about the people who help run the business then I can only imagine how wonderful they treat their clients.
Monday, January 5, 2009
Federal Tax Credits for Energy Efficiency Extended in 2009
Do you have some things that need to be done to your home to sell it? Here are some things that you can get Federal Tax Credits for.
Federal Tax Credits for Energy EfficiencyOn October 3, 2008, President Bush signed into law the “Emergency Economic Stabilization Act of 2008.” This bill extended tax credits for energy efficient home improvements (windows, doors, roofs, insulation, HVAC, and non-solar water heaters). Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009. However, improvements made during 2008 are not eligible for a tax credit.
The bill also extended tax credits for solar energy systems and fuel cells to 2016. New tax credits were established for small wind energy systems and plug-in hybrid electric vehicles. Tax credits for builders of new energy efficient homes and tax deductions for owners and designers of energy efficient commercial buildings were also extended.
Go to
www.irs.gov.com
Federal Tax Credits for Energy EfficiencyOn October 3, 2008, President Bush signed into law the “Emergency Economic Stabilization Act of 2008.” This bill extended tax credits for energy efficient home improvements (windows, doors, roofs, insulation, HVAC, and non-solar water heaters). Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009. However, improvements made during 2008 are not eligible for a tax credit.
The bill also extended tax credits for solar energy systems and fuel cells to 2016. New tax credits were established for small wind energy systems and plug-in hybrid electric vehicles. Tax credits for builders of new energy efficient homes and tax deductions for owners and designers of energy efficient commercial buildings were also extended.
Go to
www.irs.gov.com
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