ARIZONA DAILY STAR:  Tues., Aug. 12, 2008

Housing-reform law offers hope

Real Estate by Christie Smythe

 

            With the market slowdown wearing on, real estate, home-building and lending professionals in Tucson are pinning hopes for a turnaround on a recently passed federal housing-stimulus package.  The wide-ranging bill, signed into law July 30, encompasses a slew of incentives and reforms aimed at helping the housing industry out of its slump. Among them are a potential $7,500 tax credit for first-time buyers, money for the rehabilitation of foreclosed properties and a variety of changes to Federal Housing Administration-insured loans.

            Southern Arizona Home Builders Association President Ed Taczanowsky said the stimulus measures not only will help the local market, they also serve as a sign that it's approaching a turning point.

            "When the federal government steps in and puts a huge amount of money into the housing market, that signals to me that we are near the bottom," Taczanowsky said.

 

FULL STORY:   http://www.azstarnet.com/allheadlines/252294