Vacancy rates are up; occupancy rates are down. This spells opportunity for tenants and challenges for landlords. The instinct which once prevailed in the real estate industry was to "go for the jugular" and cut the best deal you possibly can. But real estate professionals know that today’s "tenant market" will become tomorrow’s "landlord
Yes, The U.S. Immigration Laws Apply to the Real Estate Industry
The federal government recently announced several changes to U.S. immigration legislation. Two key topics involve increased enforcement efforts of the Immigration and Customs Enforcement (ICE) and changes in request for prevailing wage procedures.
Preparing for an I-9 Audit or Inspection
Immigration and Customs Enforcement (ICE) has significantly increased its enforcement
efforts with respect to undocumented workers and Form I-9 recordkeeping. Employers must be prepared to quickly and effectively respond to an ICE-issued Notice of Inspection (NOI). ICE may review the employer’s files in as few as three days from the time the NOI is issued. Often enough, a prompt and complete response to the ICE office handling the investigation will end or significantly curtail their inquiry. In any event, a cooperative employer is far less likely to face fines or sanctioning. With that in mind, employers can prepare themselves for responding to a NOI by ensuring the availability of the following records:
Continue Reading Yes, The U.S. Immigration Laws Apply to the Real Estate Industry
Fannie Mae Partners With Cuyahoga County Landbank
The Cleveland Plain Dealer has reported that Fannie Mae, a player in the national secondary mortgage market and unwitting owner of numerous abandoned properties in the Greater Cleveland area, has reached a deal with the newly formed Cuyahoga County Land Reutilization Corporation to sell properties to it for $1 each.
Compared with our last report
Ladies and Gentlemen Start Your Engines !
On October 30, a coalition of federal regulators issued the Policy Statement on Prudent Commercial Real Estate Loan Workouts. The Statement is designed to give greater flexibility to lenders in renegotiating or restructuring loans secured by commercial real estate, and should aid the flow of financing to credit-worthy borrowers.
The first purpose of the Statement
First-Time Homebuyer Temporary Federal Tax Credit Extended and Expanded
On November 6, 2009, President Obama signed the Worker, Homeownership and Business Assistance Act of 2009. The new law extends the first-time homebuyer temporary federal tax credit for qualifying home purchases to April 30, 2010 and expands the eligibility requirements for purchasers.
Under the new law an eligible taxpayer must buy, or enter into a