Great news! As many of you may have already heard, Congress has extended the deadline and benefits of the tax credit for homebuyers.

Here are the details: Congress Approves Extension of Tax Credit and Extends Benefits to Trade Up Buyers The White House said the legislation builds on its efforts and President Barack Obama would sign it into law Friday. The House passed the bill on Thursday, a day after the Senate had already done so. With the $8,000 tax credit for first-time homebuyers set to expire at the end of November, there was a sense of urgency in getting it to Obama’s desk. The legislation would extend the program through June of next year, as long as the buyer signs a contract by the end of April. It also offers a $6,500 tax credit to those who have lived in their current residence at least five years. The measure doubles the income ceiling for eligible individuals to $125,000. Homes must cost less than $800,000 to qualify.

Just heard today that an interview I did for WBZTV on bank appraisals will air on November 12th. It was exciting!We’ll see how it comes out!

What a great program for anyone that is stuck in a job, etc. or trying to figure out what to do with their life! http://ping.fm/cr52V

This is a great program for anyone that is stuck in a job, relationship or is trying to figure out what to do with their life! http://ping.fm/cr52V

This is a great program for anyone that is stuck in a job, relationship or is trying to figure out what to do with there life! http://ping.fm/cr52V

Housing Corporation of Arlington annual event. Don’t miss it!

Light on the Horizon: The Future of Housing

HCA is thrilled to welcome Professor Barry Bluestone as our Keynote Speaker for our 2009 Annual Meeting. Professor Bluestone is the founding director of the Kitty and Michael Dukakis Center for Urban & Regional Policy and the Dean of the School of Urban Affairs & Public Policy at Northeastern University.

Professor Bluestone will report on the latest analysis of housing data to look at where we are in the housing cycle now and where we expect to be through the next three years.

HCA will also be presenting our 2009 Deacon Frank Mandosa Community Sevice Award to Liz Jaramillo of the Friends of Gateway. In honor of Liz, we are asking attendees to bring warm outdoor clothing to contribute to Friends of Gateway: Winter Boots, Socks, Coats, Hats, Gloves, Mittens, Scarves, Snow Pants & Snowsuits.

Tuesday, October 27, 2009
6:00 PM
Arlington Town Hall Auditorium

Please contact Joanna at 781-316-3606 or jain@housingcorparlington.org for more details.

Hope you can join us!

Rising home prices?

The author’s view does not take into account the intangible benefits of homeownership that are equally important as economic issues. There is a sense of empowerment, community and achievement that people experience when owning their own home as opposed to renting. What do you think?

October 11, 2009

Economic View

A Bounce? Indeed. A Boom? Not Yet.

By ROBERT J. SHILLER

THE sudden rise in home prices suggests that the psychology of the market has shifted substantially. But what should we expect in the months ahead? Not necessarily that we’re entering a new housing boom. To a large extent, where we’re heading depends on what home buyers are thinking.

Some clues are found in the annual home-buyer surveys that Karl Case, the Wellesley economics professor, and I have run for years. For the surveys, we canvas recent home buyers in four cities — Los Angeles, San Francisco, Milwaukee and Boston; the surveys are now being conducted under the auspices of the Yale School of Management. We have just received the 2009 results, with responses from June and July.

http://www.nytimes.com/2009/10/11/business/economy/11view.html?ref=business&pagewanted=print

Off to play a quick round at Pine Meadow in Lexington! http://ping.fm/ntGvF

What great day Saturday at Arlington Town Day, I saw a lot of folks that I hadn’t seen in quite a while. A lot of fun! Fine weather too…

It’s amazing isn’t it! We have this small ranch in Woburn that has multiple offers on it. The buyers are all 1st timers taking advantage of the tax credit before it runs out.