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NAR: Tax reform proposal would dramatically alter housing landscape

Feb 28, 2014

The comprehensive tax reform discussion draft that House Ways & Means Committee Chairman Dave Camp, R-Mich., released February 26 envisions a very different picture for homeowners than what’s in place today, according to an article published by REALTOR Magazine online. NAR President Steve Brown outlined  REALTOR concerns about the proposal in a statement.

“Proposed limits on the mortgage interest deduction and capital gains, and the repeal of deductions for state and local property taxes ... will impact every single American, either directly or indirectly,” Brown said.

Click here to read details about the proposed tax reform plan and the potential effect of the envisioned changes.

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Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.