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55th Annual DAR Convention & Trade Show

2nd Annual DAR 302

October 4, Dover Downs and Casino

Registration for Members Is Open

Register here.

You may also access the registration form online here.

View the Agenda and Class Schedule here.

Earn credits at no charge while networking with colleagues from around Delaware!

Special thanks to 2018 Event Sponsor

 

Welcome New RPAC Major Investor and President’s Circle

 

Phil McGinnis, Kent County Association of Realtors

 

First-time Homeowner Exemption Passes Senate — Moves on to Governor for Signing

House Bill (HB) 380 with House Amendment (HA) 1, exempting first-time homebuyers from their portion of the 1% realty transfer tax hike that occurred on July 2, 2017, has passed the Delaware State Senate with 20 yes, 0 no and 1 absent. It now goes to the Governor’s desk!  Click here to read the bill. The Governor is scheduled to sign the bill into law on August 28.

As stewards of the right to own, use and transfer private property, fair housing protects our livelihood and business as REALTORS® and depends on a free, open market that embraces equal opportunity. Fair Housing Makes US Stronger.

 

 Breaking News

 IRS Guidance Out on 20% Business Income Deduction

The Internal Revenue Service issued proposed regulations today for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new qualified business income deduction is available for tax years beginning after Dec. 31, 2017. Taxpayers can claim it for the first time on the 2018 federal income tax return they file next year.

The deduction will have a significant, beneficial impact on NAR’s membership. The National Association of Realtors® believes that this deduction, included in today’s IRS and Treasury Department release of proposed regulations, will be available to a wide range of real estate professionals, including those who are self-employed as well as those operating through partnerships, LLCs, and S corporations. We will continue thoroughly reviewing the rule and will be releasing more information when that process is completed.

IRS summary.

IRS rule.

NAR tax reform summary and resources.

 

 

Median Existing Single-family Home Prices up 5.2 Percent in 2nd Quarter

Amidst staggeringly low inventory levels in much of the country during the second quarter, existing-homes sales cooled and home prices maintained their robust level of appreciation, according to the latest quarterly report from NAR.  Total existing-home sales in the Northeast were at an annual rate of 683,000 (unchanged from the first quarter of 2018) and down 8.9 percent from a year ago. The median existing single-family home price in the Northeast was $288,900 in the second quarter, up 2.3 percent from a year ago. Read more.

Existing-Home Sales for July will be reported August 22, and the next Pending Home Sales Index will be August 29.

 

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