Alan Domfest, Property Tax Policy Supervisor for the Idaho Tax Commission, announced earlier this month that the state’s maximum tax exemption for homeowners will decrease in 2010.  The maximum exemption will be reduced to $101,153 in 2010 as opposed to the current $104,471 for 2009.

Providing a tax exemption for qualified homeowners, Idaho law exempts 50 percent of assessed home values from being taxed.  Idaho legislation allows the exemption to apply to a primary dwelling, along with land up to one [...]

Read more »

Thanks to the American Recovery and Reinvestment Act (ARRA), Nevada will receive a total of over $3.5 million to apply to housing programs throughout the state.  From the looks of things, Las Vegas should be a major recipient.

Congresswoman Dina Titus (D-NV) just made the announcement on September 28, 2009.  ARRA funds fall under the umbrella of the U.S. Department of Housing and Urban Development (HUD) and will be distributed through the two HUD programs, the Homeless Prevention and Rapid Re-housing [...]

Read more »

Mike Eise, a local Troy pipefitter was told he was being laid off when he was competing in Las Vegas in a World Series of Poker tournament.  Eise thought he had more time before being let go.  Even under pressure, however, he remained calm and kept his cool throughout the tournament.

Eise outplayed 2,600 participants in over 37 hours of play.  In the end, he gleaned a World Series bracelet and pocketed a hefty $639,000 in prize money.

Needless to say, the [...]

Read more »

Sterling Heights officials, along with local business leaders, broke ground during a ceremony that was held on the future location of an international defense company that will create hundreds of jobs in the area.

BAE Systems Land & Armaments is expanding into Sterling Heights.  The global company makes armored military vehicles and the new facility will host over 600 high-tech jobs.  Bringing a $58 million investment into the area will definitely spur the economy of Sterling Heights and other nearby towns.

BAE [...]

Read more »

Plymouth County has revolving additions to their notable land record collection display.  Known for its obvious historical significance, Plymouth is home to a plethora of historical landmarks and events.

Situated at the entrance corridor of the Plymouth County Registry of Deeds, the Plymouth County Notable Land Record Collection Committee hosts an exhibit of over 36 deeds and land records that includes historical summaries and the significance of each.

More recent additions to the collection are the Plymouth Cordage Company, the Fessenden Tower, [...]

Read more »

On September 23, Secretary Shaun Donovan of U.S. Housing and Urban Development (HUD) announced the release of $300 million to almost 100 communities throughout the U.S.   The goal in distributing the funding is to prevent families from falling into homelessness and to quickly re-house families who become homeless.

The source of the funding?  The American Recovery and Reinvestment Act of 2009.  So far, HUD has obligated nearly 75 percent of the department’s Recovery Act (RA) grants, a total of $10 billion.  [...]

Read more »

It’s a twisted tale of a man using a false identity to obtain a loan for a home for which he could not qualify.  Shawn Cannon of St. Louis used a fraudulent Social Security number and inflated income to obtain a mortgage through Pulaski Bank in 2005.  He borrowed $300,000 to buy a primary residence in Florissant, Missouri.

By December 2008, Cannon failed to keep up with his mortgage payments and filed for Chapter 13 Bankruptcy in order to keep his [...]

Read more »

The statistics tell the story regarding the once highly touted Queen City real estate market.  In August of 2009 (the most current data available from the Carolina Multiple Listing Service), closings were down 10% from August of 2008, with only 2,221 of available 24,842 listings closing. That ratio indicates a minimum of 11 months of inventory on the market.  Sales prices were also down 9.2% to $209,245, while list price was only down 5% from last August.

While these figures are [...]

Read more »

Just last month, new legislation was enacted that requires energy efficient standards for newly constructed homes.  Governor Pat Quinn signed House Bill 3987 into law that has been recycled through the political system for the past several years.

Architects, homebuilders in the state and environmental groups all agreed on and were in support of the Energy Efficient Building Act (EFBA).  The new law aligns the state with the most current International Energy Conservation Code (IECC) relative to new home construction, which [...]

Read more »

O’Fallon resident and multi-million dollar real estate developer Robert D. Hartmann pleaded guilty to mail and bank fraud charges related to his real estate business.  Hartmann grew his business by purchasing, renovating, developing, leasing and selling real estate.  His focus was on the purchase of existing properties in need of various degrees of repair.

By late 2005, Hartmann’s business had collapsed.  He was involved in hundreds of residential real estate deals by that time.  He had obtained loans primarily for residential [...]

Read more »