REALTOR® Advocacy Wins Bring Relief to Home Buyers, What You Need to Know, Success Stories, and More
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| March 9, 2023 |
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| REALTOR® Advocacy Wins Bring Relief to Home Buyers |
| More than 2,000 attendees gathered last week at the RPAC President's Circle Conference to hear from REALTOR® champions and top political leaders. President’s Circle plays a key role in NAR’s powerful advocacy operation as we work to make the American Dream affordable, accessible, and available to all. Read more about recent REALTOR® wins to bring relief to home buyers, including reducing mortgage insurance premiums and advancing remote online notarization. |
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| The U.S. House of Representatives passed the SECURE Notarization Act at the end of February, marking another crucial step toward allowing nationwide use of remote online notarization technology. NAR has advocated for remote online notarization since 2018 and worked to build support on both the state and federal levels. NAR will continue to urge the bill’s passage in the Senate to promote more accessible, efficient, and secure real estate transactions. |
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| In late February, Vice President Kamala Harris and HUD Secretary Marcia Fudge announced a reduction in mortgage insurance premiums (MIPs) by 30 basis points. NAR has continuously advocated for responsibly reducing MIPs to help qualified home buyers struggling with affordability in the current environment. FHA projects that this reduction will save buyers with FHA mortgages an average of $800 in their first year of homeownership. |
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| NAR filed an amicus brief on March 6 in Tyler v. Hennepein County to defend home equity interests before the U.S. Supreme Court. The case involves a Minnesota statute that allows the government to seize a homeowner’s property to satisfy a government debt and keep any surplus from the sale as a windfall. NAR, along with the American Property Owners Alliance and the Minnesota REALTORS®, filed the amicus brief in support of the property owner’s entitlement to $25,000 in surplus equity – and will continue to defend private property rights. |
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| NAR’s 2023 Snapshot of Race and Home Buying in America found that while the U.S. homeownership rate increased to 65.5% in 2021, the rate among Black Americans lags significantly (44%) and is nearly 29 percentage points less than White Americans (72.7%), representing the largest Black-White homeownership rate gap in a decade. Meanwhile, Asian and Hispanic Americans experienced the biggest homeownership rate gains. |
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| As of February 28, RPAC has reached 38% of its national fundraising goal, with more than $19 million raised at all three levels of the association, and 49% of its federal disbursements allocation goal, with over $4.8 million raised at the national level. RPAC currently has 2,156 Major Investors, 541 President’s Circle members, and a 24% participation rate. |
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| The REALTORS® Relief Foundation announced its 2023 fundraising campaign, aiming to raise $5 million this year to provide housing relief to victims of hurricanes, floods, wildfires, and other disasters. |
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| The REALTOR® Party At Work |
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| REALTOR® Party Conference Grants Available! |
State and Local REALTOR associations can apply for a grant to host their own REALTOR® Party Conference to educate members and further the mission of the REALTOR® Party. Associations may qualify to receive funding to aid in hosting an educational or fundraising conference. Learn more and apply today.
Questions? Contact Christine Windle at 202-383-1135. |
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| Get the Latest on Modern Growth Management Techniques |
Since 2008, NAR’s Growth Management Fact Book has provided a comprehensive look at a variety of modern growth management techniques – such as urban growth boundaries, housing moratoria, adequate public facilities, and cluster zoning – to help REALTOR® associations develop well-reasoned policy positions on growth-related priorities. Sections cover impacts on property values, development costs, amount and patterns of development, housing affordability, incentive-based alternatives, and recommended talking points.
Questions? Contact Hugh Morris at 202-383-1278. |
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| Expert Advocacy Help When You Need It |
Legislative and regulatory proposals that may do harm to property rights often arise quickly and require expert analysis. The Land Use Initiative will analyze and provide talking points for state and local associations on proposed planning and zoning-related measures that impact the transfer of real property. Learn how the Scottsdale Area Association of REALTORS® used the LUI to champion property rights and allow for future development.
Questions? Contact Christine Windle at 202-383-1135. |
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| Advocacy Resource Guide |
| The Advocacy Resource Guide – Vote, Act, and Invest, REALTOR® Party – includes resources and tools that can help associations reach their advocacy goals and meet Core Standards requirements. State and local REALTOR® association staff can request printed copies for events and conferences by contacting Ted Wright. Requests for printed guides must be submitted two weeks prior to the event. |
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| Looking for New Ways to Market Your Business? |
| With a .realestate web address, you can develop an online presence that positions your business as the leader in your market. Secure your .realestate web address to keep the customers coming in! Plus, it comes with a free website that’s easy and quick to customize. Learn more at get.realestate. |
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