NAR and the Leadership Team made news this week on a variety of issues, including advocacy, professionalism, the new Code of Excellence, housing market conditions, the FHA, and net neutrality.
Chris Polychron: Advocating for Brokers in 2015
Steve A. Brown, NAR’s Liaison for Large Residential Firms Relations asks questions to Chris Polychron, a Realtor® for 27 years, who will bring his straight-shooting, passionate brand of advocacy for brokers and Realtors to his role as 2015 NAR President.
FHA actuarial report is a Rorschach test for Washington players
The National Association of Realtors is generally pleased with the implications of the FHA actuarial report and wants the premiums reduced as well.
Housing agency won’t need another bailout
“By lowering its fees, FHA could provide greater access to homeownership for historically underserved groups,” said NAR President Chris Polychron. During the past four years, the percentage share of first-time buyers using FHA-backed loans shrank to 39 percent from 56 percent. “A shift in policy would also increase the volume of borrowers acquiring FHA-backed loans and contribute to the solvency of the MMI Fund,” Polychron said.
Big News for Existing Home Sales: 1st Annual Gain of 2014
“Although distressed sales are trending downward, there are still areas (such as judicial states Florida, Maryland and New York) plagued by foreclosures, and homeowners faced with the awful choice between a tax bill they are unable to pay and losing their home,” says NAR President Chris Polychron. He said that the NAR was continuing to urge the U.S. House to vote on “The Mortgage Forgiveness Tax Relief Act.” Passage would extend an expired provision that exempts forgiven mortgage debt from being taxed as income.
REALTORS raise the bar with new code of excellence
“Times have changed, people have changed, and as a result, we as realtors always feel like we need to stay ahead of the curve in what we do as an association,” said Chris Polychron, NAR’s newly installed president. “We felt like we did need additional education and training to go along with our Code of Ethics, and these new policies get at doing just that.”
Why net neutrality matters to real estate
“If the FCC’s proposal went into effect today, new and small businesses, who cannot afford to pay the fees, would instantly be put at a competitive disadvantage,” NAR President Chris Polychron said in a statement.