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NAR’s vision offers a framework that protects taxpayers, minimizes costs to consumers and promotes housing accessibility and affordability. Click here to see that framework.
Find out the state’s economic impact of real estate-related industries on the state economy, including home construction costs, remodeling, real estate brokerage, mortgage insurance, and title insurance. Click here for the State-by-State Economic Impact of Real Estate Activity.
2019 NAR Good Neighbor Award Call for Entries
Ten finalists will be announced in August and the public is invited to vote for their Web Choice Favorite, the winners of which will receive bonus grant money. In 2019, the five Good Neighbor Award winners will be honored in San Francisco, California, during NAR’s annual Realtors® Conference & Expo. The entry deadline is May 10. Go to nar.realtor/gna and click “Nominate” for more information and the entry form.
Watch these tutorials from NAR for help in navigating the changes.
Effective immediately, the First Time Home Buyers Credit provides some relief to first-time homebuyers by reducing the buyer’s portion of the state transfer tax by one-half of the one percent increase levied in 2017 by the General Assembly. A cap on the purchase price is set at $400,000, and the maximum credit that can be claimed is $2,000. First-time homebuyers who paid the full tax after August 1, 2017, can apply for a refund.
To qualify as a first-time buyer, individuals must have no record of owning a direct, legal interest in residential real estate. In addition, all first-time buyers must intend to occupy the property as their principal residence
Information on credit qualifications, FAQs, and forms can be found here. Also on that page is the number for Taxpayer Assistance. For more information, brokers may contact the DAR Legal Hotline; instructions are here. Buyers may also contact their accountant.