Thursday, February 15, 2018

New Federal Budget Deal Real Estate Provisions


Gianmichele Gennari currently serves as the general manager of PrincetonLuxuryHomes.com, where he manages luxury home purchases and sales in New Jersey. Complimenting his professional work, Gianmichele Gennari is also a member of the National Association of Realtors.

The largest trade association in the United States, the National Association of Realtors represents over 1.3 million real estate industry professionals. The organization advances the quality of the profession by developing efficient and ethical standards, and also helps increase how profitable real estate professionals are through advocacy efforts.

Recently, the association’s advocacy efforts produced significant results in the United States federal budget deal. In addition to extending flood insurance, the deal makes $39 billion available to address hurricane damage and fund flood mitigation. The deal also extends tax provisions, which include mortgage debt forgiveness, mortgage premium insurance deductions, and the deduction for energy efficient commercial buildings. Moreover, several credits remain available for improvements in non-business energy efficient properties.