3,988,007
They have launched a massive Realtor initiative to members to contact their Congressman and Senators. The widgit is easy to use and it only takes about 30 seconds to do. NAR is fully opposing the elimination of interest deductions for the homeowner.
-
Kathleen Daniels, Prob...
San Jose, CA
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Nina Hollander, Broker
Charlotte, NC
-
Roy Kelley
Gaithersburg, MD
-
Doug Dawes
Topsfield, MA
-
Mary Yonkers
Erie, PA
711,852
Have you received your Call to Action yet, Bill? NAR is fighting to keep mortgage interest deduction in any version of tax reform.
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Nina Hollander, Broker
Charlotte, NC
-
Roy Kelley
Gaithersburg, MD
-
Doug Dawes
Topsfield, MA
-
Mary Yonkers
Erie, PA
1,712,676
They have always defineded it with a lot of money including what I give to RPAC every year. Those of us who do not want to sit on the sidelines answer the calls to Action we get on our phones and go to DC to lobby.
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Nina Hollander, Broker
Charlotte, NC
-
Roy Kelley
Gaithersburg, MD
-
Doug Dawes
Topsfield, MA
1,196,798
I have no idea what they are doing, but would assume they oppose it. I guess it depends on what the entire tax reform ends up looking like. If it's a significant "net" lowering of taxes owed then it may be ok to lose the deduction.
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
-
Pete Xavier
Pacific Palisades, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
5,583,278
this is not the first time this has happened....
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
-
Doug Dawes
Topsfield, MA
1,231,853
Fight, Fight, Fight.
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
-
Doug Dawes
Topsfield, MA
716,049
I'll also be the devil's advocate because you have to look at both sides of the equation. What if those home-related deductions are eliminated to simplify the tax system (keep in mind that every single-interest group wants to keep their deductions - and that is THE biggest problem) and the overall result of the tax reform reduces your tax liability - isn't this better?
It seems that many have the concept that if you keep the home-related expenses your tax liability will be less - which is not necessarily true.
Lets look at the BIG picture. I'd be 'for' the elimination of home-related tax breaks IF it reduces overall my tax burden & liability and simplify the tax system. Isn't that what we really want???
There's a lot of talking heads and so-called experts right now spewing false information and misleading the public...
-
John Mosier
Prescott, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Pete Xavier
Pacific Palisades, CA
86,514
How are you using "Homesteads"? If you mean the deduction for interest paid on a home then that's a different story. Thing to understand is 70% of homeowners don't USE the interest deduction as they already have a build in deduction in the tax code and only the "coasts" really need this incentive. I also don't think it would lower values a bit. Here in California we are going all out to change the opinions as to WHY this would be a good idea. But if you are a politican and only 30% of your constituents use the deduction that can tip your vote. Funny. I always thought Republicans where vehemently pro home ownership and they chose the low hanging fruit to balance their tax cuts. And this is NOT Tax Reform. I was in the business when we had the last major TAX REFORM. I was swamped with folks trying to get all their investment properties into the 15 year straight line depreciation!
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Pete Xavier
Pacific Palisades, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Debe Maxwell, CRS
Charlotte, NC
6,393,404
Lobbying and sending out texts and emails to the members suggesting that they write to their representatives in Washington.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob Crane
Stevens Point, WI
4,572,183
It's not the first time and likelynot the last time this will occur. I have received notifications to contact my Congressmember and Senators. The NAR is a pretty powerful lobby -- must be something about those letters regardless how they are arranged.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Debe Maxwell, CRS
Charlotte, NC
2,220,323
That's a very good question BILL CHERRY
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
5,216,398
I don't think they have thought this through! Then again, isn't that standard for Washington.
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
5,104,931
I've been inundated with requests from NAR to contact my representatives, which I have done. They are spending millions on a marketing effort with Congress.
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,502,998
NAR is a leftist organization (remember the $500,000 to "she who should not be named" for speaking at their convention a couple years ago... and they didn't even get any uranium out of it!!!) and as such is going all out with their "Red Alerts" to attack Trump's tax plan. Every economist I've seen says this will be a benefit to the tax payer.
-
Debe Maxwell, CRS
Charlotte, NC
-
Richard Bazinet /MBA, ...
Scottsdale, AZ
393,762
You realize that large capitalized real estate companies are buying up singe cfamily homes by the zillions., and then renting them. Say they pay the same thing for the house as you would pay for it. They will write off the interest, the taxes, the maintenance and depreciate the improvements.
If you, on the other hand, buy the house under the new plan, you won't be able to write off the interest, you can write off the taxes, you will continue to not be able to depreciate the building, and you will not have the luxury of depreciation.
So the house is worth MORE to the investor than it is to you, but he will figure out what you'll be able to pay, and will bring is offer down to yours.
That, as you know, is arbitrage. And it is working against the guy who wants to buy a home.
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob Crane
Stevens Point, WI
3,345,091
I have received the alerts to what Debbie Reynolds said. Both by text and emai.
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
3,071,489
Debbie Reynolds nailed this one!
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
5,230,068
They are spending millions of dollars in DC with lobbying efforts that are, sadly, being poo-pooed by many agents. It IS a big deal to the middle class and in fact, Leigh Brown shared a video of this last week...
Richard Bazinet /MBA, CRS, ABR wrote a post about it last week as well.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
2,684,009
Abolish the IRS. Then we don't need any deductions.
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
7,836,134
See the answer from Debbie Reynolds.
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,622,432
Seems there are a lot of changes coming to real estate financing part....
-
Debe Maxwell, CRS
Charlotte, NC
599,274
I don't think it will happen because it impacts far too many voters that depend on it.
-
Debe Maxwell, CRS
Charlotte, NC
4,800,082
3,416,038
I sure hope they shoot this down. I wish each idea like this had the name of legislator that came up with it
-
Debe Maxwell, CRS
Charlotte, NC
3,986,258
It will be doing a lot of talking but not much action I believe
-
Anthony Acosta - ALLAT...
Atlanta, GA
2,781,173
NAR is always late to the party....and I will add out of touch too
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
5,772,575
Bill,
Debbie Reynolds gave you the solution. A
-
Debe Maxwell, CRS
Charlotte, NC
4,434,127
5,868,544
I did get the Call to Action and responded, but sure looks like it could pass this time.
4,936,677
2,182,552
921,504
If I am reading the responses correctly, everyone supports the idea of the tax payer supporting the real estate industry.
In essence a industry propped up by the government.
That seems UN-AMERICAN.
But, since real estate agents, of which I am one, benefit greatly, I'm all for sustaining a monopoly business with tax payer dollars.
Before we get too carried away, let us agree that what the subject matter relates directly to the interest rates imposed by lenders. This is a BANKING issue inherited by the real estate business. Keep the issue focused on LENDERS NOT REAL ESTATE.
What are the lenders doing to protect the deduction?
1,239,901