On June 26, the House passed HR 2454, the American Clean Energy and Security Act.  Since then, many NAR members have been asking questions about what the bill means for real estate and what can be done to improve the legislation in the Senate where the bill now resides for consideration.  Thanks to the excellent work of Rep. Ed Perlmutter (D-CO) who inserted an amendment in the late hours of consideration, the energy efficiency label provision on homes is only for new construction properties.  The bill in its original form was intended for all properties – which NAR strongly opposed. Below are some Facts and Myths from NAR about the legislation.  MYTHS AND ...
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NAR is taking a close look at a new standard adopted by Fannie Mae/Freddie Mac that establishes standards for the solicitation, selection and compensation of appraisers. The Home Valuation Code of Conduct (HVCC), effective May 1, 2009, affects REALTORS®, appraisers, lenders, mortgage brokers and consumers and extends only to mortgages that are GSE-owned or guaranteed. According to NAR, the standard has the potential to delay or eliminate numbers of home sales. Take part in a More >>

Want to know more about NAR’s Health Care Reform for Self-Employed and Small Employers? Be sure to visit NAR’s new dedicated page to Healthcare Reform here for all of the latest information. ...
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NAR has set up a webpage on short sales. REALTORS® who are new to short sales can learn the basics and watch webinars to increase their knowledge. The site includes information about NAR's advocacy efforts to improve the process, getting a short sale to closing, and informing buyers and sellers about the process. There is also information on the upcoming Obama Administration short sales program, which will be part of the Making Home Affordable Program. The Treasury Department is targeting the end of July for issuing guidance and uniform forms and for signing up servicers to participate in the new initiative.NAR’s Short Sales Page ...
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As summer approaches, health care reform is emerging as the next major legislative debate in Congress.  With nearly one-third of REALTORS® lacking ANY health insurance and hundreds of thousands more struggling to pay ever increasing premiums, health reform is an issue of critical importance to our membership.  In the coming weeks NAR will be fully engaged in the health care debate and we wanted to outline some of the steps will be taking to ensure we remain an important stakeholder in the health care debate.  As this debate intensifies in Washington, DC and across the nation, NAR will be protecting the interests of our members.  Working with our state and local associ ...
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After meeting with Senate Democrats to discuss health care reform options at the White House earlier this week, President Obama sent a letter June 3 to Sens. Max Baucus (D-MT) and Edward Kennedy (D-MA) signaling his support for a public health insurance option and his openness to an individual mandate, provided Congress builds in a hardship waiver for Americans who can’t afford coverage. Obama also said employers have a responsibility to support health insurance for their employees, but that any employer mandate should exempt small businesses which “face a number of special challenges in affording health benefits.” Baucus and Kennedy are the chief architects of health care ...
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The following information is an important message from the NATIONAL ASSOCIATION OF REALTORS®  We understand that many state and local associations have received requests for a Call For Action regarding a provision contained in H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act, specifically the restriction of 1 seller financed property every three years.  We understand the concern for some or our members, and greatly appreciate receiving all of the comments related to this concern.  Here is some information about the bill that you can share with your members who express concerns to you.  First, please know that H.R. 1728 will not be taken up by the Senate a ...
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Last week, the Obama Administration announced incentives and uniform procedures for short sales under its new Foreclosure Alternatives Program (FAP). For borrowers who are unable to retain their home under the Making Home Affordable Loan Modification Program, the servicer may consider a short sale or, if that is not successful, a deed-in-lieu of foreclosure. Participating servicers must comply with program requirements so long as they do not conflict with contractual agreements with investors.   Borrowers (Homeowners). Borrowers/homeowners qualify under the FAP if they meet minimum eligibility requirements for the Home Affordable Modification program but don’t qualify fo ...
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The Arizona Legislature has scheduled budget hearings this week to work out a solution that will erase the fiscal 2010 $2.93 billion deficit. The legislature must pass the FY2010 budget before June30, 2009.As previously discussed in The Capitol Insider, tax reform discussions are ongoing at the Capitol.The legislature is talking about broadening the base of the sales tax to include services sometimeafter passing the FY2010 budget or soon after the next legislative session begins in January 2010.We’ll keep you updated as we get information.In addition to discussions about taxing services, the legislature may schedule a hearing to review aproposal that would reform impact fees and regula ...
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There has been a lot published in the media recently about support for higher taxes in Arizona – from our elected officials to constituency groups.   As the news media attempts to provide continuous coverage of the state’s budget dilemma, the discussion is growing on how to best solve the budget deficit. More and more, these discussions are including the concept of expanding the sales tax base to include services-That means YOU!For more information, please click here to view a copy of 'The Capitol Insider' and be prepared to respond to a Call to Action in case th ...
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