Real Estate News – February 19, 2012

Tax time is nearing and once more rumors are circulating on the Internet and by e-mail that the health care reform law enacted two years ago includes a 3.8 percent transfer tax on real estate starting in 2013. That rumor is not true (via REALTORMag):

Home Sale Delayed as Occupy Members Protest Foreclosure Proceedings (via

Lawmakers in Congress were debating a bill Wednesday that could allow commercial leasing of oil shale throughout the West (via

The Nevada Supreme Court waded Wednesday into the first of what may be multiple cases pitting homeowner associations and their collection agencies against buyers of foreclosed homes (via

Fighting HOA covenants an expensive mistake (via

Foreclosures Pick Up Pace, Banks Work Through Glut (via REALTORMag):

The Federal Housing Finance Agency announced it will soon be piloting a foreclosure-to-rental program, in which it’ll offer qualified investors the chance to buy a pool of foreclosed homes all at once as long as long as they agree to rent the properties for a specified period (via REALTORMag):

“Mom and pop investors” are trying to capitalize on a depressed real estate market in the hopes of one day being able to cash in (via REALTORMag):

The Financial Accounting Standards Board and the International Accounting Standards Board are moving closer, albeit slowly and with re-exposed drafts along the way, to their goal of new converged accounting standards for leases.  Although the two accounting-standards setters have re-exposed a draft, thus pushing the day of reckoning off, there is little doubt that it is coming (via