wrote in message
...
On Wed, 30 Jan 2008 06:44:42 -0500, "Jim"
wrote:

This is basically the real estate agent relief act of 2008.

It should help. You might see an uptick in RE activity.

We are already seeing new home orders. All they had to do was drop the
price to a more realistic level. The real tax problem is the
government was spending, based on that artifically inflated home
value. Home prices are down 25-30% but government spending is still
gong up.


Hopefully there aren't too many stories like this one lurking beneath the
surface in other communities:

http://www.rochesternews.com/extra/amico/0514amico.html

http://www.democratandchronicle.com/...213amico.shtml

The town is small enough, and the number of overvalued houses high enough
that when the assessments were corrected, the town budget had to be
completely reworked.