Let’s all hope this bill passes. It will continue to spur the economic and real estate recovery.

WASHINGTON — Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package. But with that program scheduled to expire at the end of November, the Senate voted 98-0 Wednesday to extend and expand the tax credit to include buyers who already own homes. The House is expected to vote on the bill Thursday. Buyers who have owned their c... Read more

Recession’s over, but it doesn’t feel that way in capital area

It looks like the longest U.S. recession since the 1930s is over.

So why doesn’t it feel that way?

After four quarters of shrinking, the nation’s economy – as measured by its gross domestic product – grew 3.5 percent in the third quarter, the Commerce Department reported Thursday.

But the news did little to erase the gloom that has settled over Sacramento’s economic landscape like a thick tule fog.

Local businesses are keeping the umbrellas within arm&rsquo... Read more

El Dorado County rejects some federal stimulus money

By Cathy Locke
clocke@sacbee.com

http://www.sacbee.com/ourregion/story/1945169.html


El Dorado County officials turned down $1.6 million in federal stimulus funds, leaving an ideologically diverse group, including affordable-housing advocates and local contractors, angry and perplexed.

The Board of Supervisors last week twice rejected what staff members described as no-strings-attached funding.

"It’s as close to a no-brainer as I’ve ever seen come before this board," Richard ... Read more

Article from RISMedia.com:
Could New Stimulus Plan Actually Cost You Money?

Posted By Paige On April 20, 2009 @ 3:57 pm In Today’s Marketplace, Today’s Top Story - Consumer | Comments Disabled

[1]RISMEDIA, April 21, 2009-(MCT)-Wage earners beware: One of the federal government’s new tax breaks, designed to put more take-home pay in your wallet now, may take a bite out of your wallet next spring. Under certain conditions, the extra cash you’ve started seeing in your paychecks could shrink your refund or boost the size of the check you have to write when you fi... Read more

Earlier this year, the government unveiled its new $787 Billion Stimulus Plan to infuse the economy with money and confidence. That’s some serious money!

But have you ever wondered who’s actually getting that money? Want to find out what types of projects may be funded, and how it impacts your state and local community?

Now you can, with StimulusWatch.org!

StimulusWatch.org was designed to help the government keep its pledge to invest stimulus money smartly and to add transparency and accountability to the process.

StimulusWatch.org, let’s ... Read more

USA Today is reporting that a number of restaurants are offering free food and discounts today (tax day), to add a little comfort food to the sometimes uncomfortable tax day activities.

•Free gift cards. T.G.I. Friday’s will give Wednesday customers $5 Bonus Bites gift cards for food and beverage purchases of $15 to $25 and $10 cards for those who spend more than $25. Members of the 1,000-outlet chain’s frequent-customer program also will get double points

•Free sweets. Snack chain Cinnabon will give out Tax Day Bites, free bite-size cinnamon rolls usually known a... Read more

Given recent changes in home prices and the current low mortgage rate climate, there have been significant gains in affordability for prospective first-time homeowners. Earlier in 2009, a provision in the Stimulus Bill provided for a first-time Homebuyer Tax Credit of 10 percent of the purchase price of the home up to $8,000. The CALIFORNIA ASSOCIATION OF REALTORS® analyzed the difference between renting and buying a home in light of recent market and policy developments. Housing costs and tax implications of buying a home and renting a home were computed as a part of the analysis.

A... Read more

You or someone you know can benefit from the Mortgage Stimulus/Refinance Program and avoid foreclosure! Whether you want to modify your existing loan or work through the short sale process, I can help! The most important thing is for you to understand the many options available besides allowing a foreclosure sale to ruin your credit. Call or email me today for more information. Remember! You don’t want to lose your home because you didn’t pick up the phone! (916) 425-6066 or michaeloday@greatwestgmac.com... Read more

President Bush signed the housing bill this morning, ending any minor speculation that he in fact would!

It is hoped the action will provide mortgage relief for 400,000 homeowners struggling to retain ownership of their homes. It is also hoped that it will assist in stabilizing financial markets.

As reported by California Association of Realtors and other publications, this bill permanently increases the conforming loan limit to $625,500. In February, the Economic Stimulus Act of 2008 was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 fro... Read more