Nation: NAR Urges Mnuchin to Protect MID

In a letter dated March 10, 2017, NAR 2017 President William E. Brown urged new Treasury Secretary Steven Mnuchin to protect the current tax benefits of homeownership as the Trump Administration seeks to reform the federal income tax system. Referring to recent media reports where Mnuchin promised to leave “the mortgage interest deduction as is,”Continue reading “Nation: NAR Urges Mnuchin to Protect MID”

Nation: NAR Proposes Changes to Condo Certification Requirements

On November 28, 2016, NAR submitted a comment letter to the Federal Housing Administration (FHA) regarding proposed changes to FHA Condominium certification requirements. Many of the proposed changes align with areas REALTORS® have expressed a need for more lenience and reflects NAR advocacy on these matters. The NAR letter specifically asks FHA to: Remove theContinue reading “Nation: NAR Proposes Changes to Condo Certification Requirements”

Nation: Tax Reform Proposals Hurt MID

Evan Liddard, a NAR tax policy analyst, says we should be wary of recent tax reform proposals that claim to protect the mortgage interest deduction (MID). Liddard spoke to government affairs directors in Washington, DC last week. Liddard said by increasing the standard deduction both the Camp and Wyden plans introduced in recent years wouldContinue reading “Nation: Tax Reform Proposals Hurt MID”

2014 Election Most Successful to Date

The 2014 mid-year elections were historic by many measures, but particularly for the NAR and the REALTOR Party. It was NAR’s most successful election to date, winning over 90 percent of the REALTOR Party supported races.  Needless to say, real estate issues stand to be well represented in Congress over the next two years. InContinue reading “2014 Election Most Successful to Date”

Mortgage Interest Deduction Facts

The mortgage interest deduction (MID) was capped at $1 million in 1987 and not pegged to inflation. If it had been indexed, the MID cap would be over $2 million today. For context, at the time the median priced single-family home was $85,600. While the mortgage interest deduction cap remains unchanged, the price of single-familyContinue reading “Mortgage Interest Deduction Facts”

Senate to Tackle Tax Reform

On June 27th the Chairman of the Senate Finance Committee, Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) announced their plan for tax reform legislation in the United States Senate.  A letter to all Senators announced their intention to “mark-up” (create legislation in the committee) a tax reform bill this fall and that theyContinue reading “Senate to Tackle Tax Reform”

COLORADO ASSOCIATION OF REALTORS® Legislative Update

NAR has set its public policy agenda for 2013 after reviewing the results of its member survey. That survey indicated that the mortgage interest deduction (MID), the exclusion on principle residence and property taxes in general were the top issues on Realtors®’ minds. TAX POLICIES: Continued focus on reducing the federal deficit has kept taxContinue reading “COLORADO ASSOCIATION OF REALTORS® Legislative Update”

NAR Announces Call to Action – Mortgage Interest Deduction

On December 3, 2012 NAR launched an all-member Call for Action regarding proposed changes to the Mortgage Interest Deduction. News reports concerning the “Fiscal Cliff” speculate that a change to the long-standing policy that allows homeowners to deduction mortgage interest payment from their income taxes could be part of a “Fiscal Cliff” deal. The CallContinue reading “NAR Announces Call to Action – Mortgage Interest Deduction”

Presidential Candidates Differ on REALTOR Issues

NAR does not endorse a presidential candidate, but REALTORS® obviously want to know where the candidates stand on real estate issues. A recent interview in REALTOR® magazine sheds light on their positions. Below you’ll find a summary of both candidates’ answers to important questions that focus on REALTOR® issues. Home Ownership Incentives The federal governmentContinue reading “Presidential Candidates Differ on REALTOR Issues”