Strengthening Ties at All Levels of Government, What You Need to Know, Success Stories, and More
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September 12, 2023 |
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NAR spearheaded a coalition letter to congressional leaders on September 8 urging an immediate extension of the National Flood Insurance Program (NFIP) before its September 30 expiration. The letter noted that an NFIP lapse would threaten 1,300 property sales each day. |
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The 3.5% down payment requirement makes FHA-insured loans an important financial tool, helping more buyers achieve homeownership. Yet many sellers and their agents may decide not to accept offers from FHA buyers based on pervasive myths about this type of financing. Federal Housing Commissioner Julia Gordon recently sat down with REALTOR® Magazine to discuss how FHA is dispelling misperceptions and broadening access to homeownership. |
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NAR recently responded to the FHFA’s request for information on tenant protections in Fannie Mae- or Freddie Mac-backed multifamily rental properties. The letter stressed the need for policies that address the root causes of high rents, including removing barriers to affordable housing construction, incentivizing participation in the Housing Choice Voucher program, and funding existing HUD programs. It also outlined the dangers of further regulation on GSE-backed properties, which comprise an estimated 26% of the U.S. multifamily rental market. |
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Pending home sales increased 0.9% in July, rising for the second consecutive month. The Northeast and Midwest posted monthly losses, while sales grew in the South and West. |
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Almost 60% of metro areas posted home price gains in the second quarter of 2023. For a typical starter home valued at $342,200 with a 10% down payment loan, the monthly mortgage payment grew to $2,012, up 9.9% from the previous quarter ($1,830). |
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As of August 31, RPAC fundraising reached 75% of its national goal with nearly $38 million raised at all three levels of the association, and 103% of its federal disbursements allocation goal with $10.3 million raised at the national level. RPAC currently has 7,648 Major Investors, 1,848 President’s Circle members, and a 33% participation rate. |
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The REALTOR® Party At Work |
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Maine Association of REALTORS® Defends Intertidal Land of Coastal Property Owners |
For centuries in Maine, the title to the intertidal zone has always belonged to the “upland property owner.” This zone is also valuable to commercial and industrial interests, and the state government has periodically attempted a taking; to date, REALTORS® have successfully championed the rights of private property owners. When the issue threatened this past spring, the Maine Association of REALTORS® again defended those rights with the help of a REALTOR® Party Issues Mobilization Grant. |
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Texas REALTORS® Help Defeat HOA Section 8 Ban |
When a Homeowners Association (HOA) in a town about an hour north of Dallas banned property owners from accepting Section 8 vouchers, Texas REALTORS® responded swiftly and decisively, leading a coalition that met with legislators to craft a bill preventing HOAs from denying members the right to accept whatever form of payment they chose. In doing so, they preserved a critical source of affordable housing and demonstrated that REALTORS® will not tolerate discrimination. |
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Register Today: Live Virtual Course on Planning & Zoning |
Join us for the premiere of Planning & Zoning Resource: Advocating for your Community’s Future on September 19 from 11 am to 6 pm ET. You’ll learn the basic components and processes of the planning and zoning phases of real estate development and how these phases can lead us to a better way of developing communities, including smart growth and boosting housing supply.
Questions? Contact Hugh Morris at 202-383-1278. |
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Advocacy Resource Guide |
The Vote, Act, Invest Advocacy Resource Guide 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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Get Your Appraisal Questions Answered! |
Join us on October 4 for our Ask an Appraiser Webinar, a 60-minute, live Q&A discussion with a panel of seasoned REALTOR® appraisers as they field questions about all aspects of the real estate industry and appraisal process. Build your expertise and knowledge to provide invaluable support to your clients. |
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