The 69th General Assembly Kicks Off in 2014 The second session of the 69th General Assembly began this past Wednesday. House Speaker Mark Ferrandino, House Minority Leader Brian DelGrosso, Senate President Morgan Carroll, and Senate Minority Leader Bill Cadman all mentioned, in part, the heartbreaking events that took place in our state in 2013, and how, in all instances, people came...
The Mortgage Cancellation Tax Relief expired December 31, 2013. Without an extension from Congress, homeowners who have had any amount of mortgage forgiven by a lender through either a foreclosure or short sale will be forced to pay a "phantom income tax" on any amount that was forgiven. It is CAR and NAR's position that homeowners should not be subject to...
Legislation is being considered to delay changes to the National Flood Insurance Program. Please Take Action today and tell your Member of Congress and Senators that NAR supports the “Homeowner Flood Insurance Affordability Act.” Send Message » The Problem: Congress provided a 5-year reauthorization of the National Flood Insurance Program (NFIP), but severe implementation problems threaten to undermine real estate transactions where flood insurance...
Way to go Colorado REALTORS®! For the first time, Colorado has been recognized as a Triple Crown Winner, achieving NAR Fair Share goal- Participation goal, Major Investor goal, and President's Circle goal! During the NAR Convention last week an un-named REALTOR® reminded everyone that “Technology is a cost of doing business. Advocacy is the cost to stay in business!” A...
The Federal Government shut down is still at an impasse. What does it mean for the real estate industry? It means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding. The National Association of REALTORS® has released a brief on some of the issues...
Now that the Federal Government has shut down, what does it mean for the real estate industry? It means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding. The National Association of REALTORS® has released a brief on some of the issues that...
NAR shows once again its political power of persuasion in the real estate industry. The latest triumph is HUD reporting yesterday afternoon to NAR they will reissue the July Mortgagee Letter and remove all dual agency language (Part Three of the PFS Participation Requirements) that was to be implemented October 1, 2013. NAR will continue discussions with HUD agency officials...
On September 16, 2013, the Colorado Office of Emergency Management released its initial estimate of the number of homes damaged by the recent flooding. Officials estimate that the flooding damaged 17,494 homes and destroyed another 1,502 homes. The damage will undoubtedly affect potential home sales and, it will be critical that consumers and their REALTORS® understand the complexities and legal...
As Colorado is in the midst of experiencing one of the worst floods since 1976 it is important for Colorado REALTORS® to stay updated on the National Flood Insurance Program and the changes in the federal subsidy of flood insurance. Those changes will result in increases in the premiums charged for flood insurance coverage. That means that a buyer who...
The National Association of REALTORS® President calls the New Qualified Residential Mortgage (QRM) rule a “victory for all homebuyers and the future of homeownership in the country!” This new rule gives creditworthy consumers access to safe and affordable loan products while also protecting them from dishonest lending practices. The following is a statement by the National Association of REALTORS® President Gary Thomas about...