Doctors consistently tell us that we can keep ourselves healthy if we stay active. Without consistent exercise, our health deteriorates.
It’s the same in politics. If REALTORS® continue to stay active on Capitol Hill, we can help bring our industry back to health and maintain its health. If our participation slides, our businesses slide.
We sent out a Call for Action on Monday to all REALTORS® on the mortgage interest deduction. It tells Congress not to trim the MID one bit. It also asks members of the House of Representatives to back House Resolution 25 which supports the MID in its current form.
We’ve already seen a strong participation rate on this one. But when we say we need “everyone” on board answering the Call for Action, we mean it. This is a serious issue that will affect homeowners, consumers, and every single REALTOR® in America.
There’s no association for home owners out there. There’s only us. NAR represents the 75 million home owners.
So it’s crucial that REALTORS® remain active and answer the CFA today. Now is your moment to let your member of Congress know what’s important to you.
If you need more convincing, check out the letter-to-the-editor on the MID in the Chicago Tribune from NAR’s Chief Economist. Do you think it’s a good time to ask homeowners to cough up another $3,050? I don’t either.
Thank you for your participation! I promise you, it’s making a big difference. — Vince Malta, 2011 NAR Vice President and Liaison to Government Affairs
After I posted Real Estate Is About Jobs (Feb. 9), I received several dozen comments from members. Some of you questioned NAR’s stance on the best way to restore housing markets. I want to thank each and every one of you for taking the time to engage with us and share your opinions. We will be seeking more member feedback during our Home Ownership Matters bus tour next month. I also want to try to address some of the concerns that were raised. I think it’s important that you know where the National Association of REALTORS® and your Leadership Team are coming from on some of these contentious issues. We may not agree on every point—but please believe that NAR recognizes and respects the differences that exist within our million-strong association.
In your blog post you suggested that we can increase home sales by (1) preserving the mortgage interest deduction, (2) moving the credit pendulum to equilibrium, and (3) maintaining government backing in the mortgage market. Two of those items—MID and government backing—seem to be about maintaining the status quo. How will that drive up home sales?
According to our research, the market is underperforming by some 20 percent. We are at 2000-level home sales—yet we have 30 million more people living in the United States today. A federal commitment to maintaining the MID and government backing would bring more certainty to buyers and investors. Getting back to a normal level of underwriting—combined with an improving job picture—would get the country back on track to a normal level of sales. The issue of jobs is critical, and one of the messages we’re sending to Congress, as they begin their debate over the 2012 budget, is that housing creates jobs at home. Continue reading »
Do you remember being in elementary school when the teacher would ask a question? Two things would happen. Either your hand would shoot up like a firecracker because you were so excited to give your answer. Or you would sit there fidgeting because you wanted to answer but were too shy to speak up.
Let’s face it, now that we’re all grown up, the same things still happen. Many of us have incredible ideas about how to help the real estate industry, and we’re either waiting for the right opportunity to give our answer or we’re too shy to share it.
The NAR Leadership Team has a solution. We’re knocking on your door, and we want you to answer. On January 24th at 3 pm EST, we’re hosting an online, live Town Hall meeting. I’ll be there, and I want you to be there, too.
2011 is a crucial year for our industry. So much is on our plate, and we’re ready to tackle it all! We’re fighting to protect the MID. We’re urging Congress to restructure the GSE’s into a model that will ensure the flow of capital and protect investors. We’re working to decrease foreclosures and to stop credit from playing “hard-to-get.”
The Town Hall provides just the opportunity for the NAR Leadership Team to lay out our goals for the year and for us to hear from you. That’s right: YOU! We need you and value your opinion.
So please, register for the Town Hall. On the registration site is a place for you to submit a question you have for the NAR Leadership Team. This is the time where all hands need to shoot up. You are the heart of NAR, and we hope you can make this important meeting.
I look forwarding to “seeing” you on the 24th! Elizabeth Mendenhall – 2011 NAR Vice President and Liaison to Committees
If you’re looking for some good news in the commercial real estate market, I have some for you. The U.S. commercial real estate market was ranked the number 1 choice for investment this year and viewed as the best opportunity for price appreciation, according to a survey of foreign investors by the Association of Foreign Investors in Real Estate.
More than 60% of respondents indicated that the U.S. offers the best potential for capital appreciation. Seventy-two percent said they plan to invest more capital in the U.S. in 2011 than they did in 2010. When ranked among other countries, the U.S. score was quadruple that of the second‐ranked U.K.
All I can say is, wow and it’s about time!
Respondents overwhelmingly chose New York and Washington, D.C., as the top two places of interest for their investment dollars. As a REALTOR® working in the D.C. area, I can tell you that this market is indeed holding its own here. I’m seeing more lease-up of vacant space. New development is starting to occur and rents have stabilized, if not showing signs of improvement. “Green” building is more the norm these days than the exception.
Recently, I’ve worked with a few medical practices, and they’ve certainly seen the writing on the wall. There couldn’t be a much better time to “take the plunge” than now.
The commercial industry continues to face challenges, but this is an encouraging sign. Maybe today is the day you should reach out to that investor you know across the pond.
On January 24th at 3 pm EST, the NAR Leadership Team is hosting the first ever, online LIVE Leadership Town Hall. We need commercial practitioners to tune in and be part of the conversation.
The Leadership Team will be laying out its priorities for 2011. Then we’ll be taking your questions. On the Town Hall registration page is a place for you to submit your questions. I hope you’ll make the time for this important meeting and be a part of leading our industry to success this year. — Bill Armstrong, 2011 NAR Treasurer
