H.R. 3700 was passed by the U.S. House 427-0. Despite passing with NO OBJECTIONS, the U.S. Senate has not acted on H.R. 3700.
This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:
- Removing a burdensome and expensive FHA Condo approval process
- Reducing FHA restrictions on the number of condos available to homebuyers
- Permanently streamlining Rural Housing Service loan processing
More Information on NAR's efforts to pass H.R. 3700:
- Letter Urging the Senate to Pass H.R. 3700
- NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance.
- House Passage Press Release
The Ultimate Real Estate Playlist
These classic Duran Duran songs will teach you something about being a real estate professional.
MAY 2016 | BY LEIGH BROWN
Duran Duran is my favorite band because they’ll rock anyone’s socks off, but also because if you listen closely, you’ll hear a lot of wisdom in their songs that can be applied to real estate. Elizabeth Mendenhall knows what I’m talking about. She’ll be the president of the National Association of REALTORS® in 2018—I think it’s rad and bodacious to see a young woman rising to the top of our ranks—and she shares my love for Duran Duran. So in Mendenhall’s honor, I present to you a look at the real estate life through the lens of one amazing Duran Duran playlist (available here).
The only way you’re going to survive in this business is if you are “Hungry Like the Wolf.” It might sound like a great idea to start as a part-time agent to get your feet wet, and real estate coaches and technology companies always promise the silver bullet to your success. But the ones who shine in their careers are those who have a fire in their belly to work. They are crazy responsive to any request, whether it comes from consumers or their colleagues. Their hunger comes across in their sheer desire to learn, implement, and do real estate better.
We are all entrepreneurs, and every practitioner wants to do this “My Own Way.” There are more than 1 million REALTORS® in the country, and every single one is a renegade. Some don’t know it yet, but they’re learning! One of the beauties of this business is that it’s one of the last bastions of true entrepreneurism left in the world. You build the business you want to build around the clients you want to serve in your community, and your purpose is different than any other real estate professional’s.
When a transaction starts to fall apart, you feel like you’re going to “Come Undone.” But you know how to hold it together. Just “Save a Prayer” for the closing that everyone will show up and play nice. Too many practitioners forget that they are the messengers — they absorb all of the emotion that’s going on and lose their ability to be the objective voice when things get tense. Take a step back, call a friend, remember the last time you bought or sold a house, and keep it together for the benefit of your client.
DAILY REAL ESTATE NEWS | FRIDAY, MAY 06, 2016
In a recent episode of ABC's "Modern Family" viewers were schooled on the difference between a REALTOR® and a real estate agent.
In the episode, which aired Wednesday May 4th, Phil Dunphy, the show's resident real estate practitioner played by actor Ty Burrell, clarifies his status as a REALTOR® and offers Gloria a lesson about what sets REALTORS® apart from other real estate agents. At the end of the show, Dunphy is seen straightening an "R" pin on his jacket.
The National Association of REALTORS® partnered with "Modern Family" to craft the episode's messaging as apart of NAR's Get REALTOR® campaign.The plot narrative of the show coincides with the launch of NAR's latest TV and online ads featuring the Dunphy character, who provides his "Phil's-osophies" on the ways REALTORS® provide value to home buyers and sellers. Dunphy is "now one of America's best-loved REALTORS®," says Elizabeth Mendenhall, NAR's 2016 First Vice President.
Source: “‘Modern Family’ Product placement Takes Ad to New Level,” The Associated Press (May 5, 2016)
Northern Kentucky REALTORS® encourage homeowners to consider listing now because average selling prices for the last 6 months have been consistently higher than normally seen in our local market. This is just the news that NKY homeowners have been waiting for. Low inventories of active homes for sale are driving average sale prices up to levels that are higher than prices recorded in the real estate boom of 2006 and 2007.
You have to strike when the market is hot, as the old saying goes, and that’s so true now when inventories of homes for sale in Northern Kentucky are at an all-time low. In November, 2,106 active listings were available, the lowest number for all of 2015, and even for as long as the MLS has been tracking active listing inventories. Now is the perfect time to ready your home for the spring selling market. Home sellers have a perfect opportunity to make a quick sale if their home is move in ready, priced right and has features and amenities today’s buyer is looking for.
Daily Real Estate News | Monday, December 07, 2015
A shortage of homes for-sale is creating a roadblock for some would-be home buyers. In some markets, home buyers are left scrambling for a scant number of homes for-sale and that is sending home prices escalating.
“If you’re seeking to purchase a home in an area with tight inventory conditions, it’s important to assume that there is going to be competition from other buyers and be ready to quickly make a solid offer,” says Sharon Voss, president of the Orlando Regional REALTOR® Association.
For buyers to have the best chance, Voss recommends the following when battling low inventories:
•Have finances in order. Buyers should know how much house they can really afford and repair any credit issues. They should have their down payment ready to help avoid any delays.
•Get pre-approved. A pre-approval for a mortgage is a step beyond getting pre-qualified and can put buyers into a better position.
•Identify contingencies. Buyers should know their contingencies are and which ones they will refuse to negotiate from.
•Make your list. Home buyers would be wise to determine which home features are a “must have” and which features are a “nice-to-have” upfront so they can move more quickly in finding a home.
•Make your best offer. In hot housing markets, buyers may not get a chance to make a second offer. They may be wise to submit their very best offer at the start.
•Be ready. Buyers in tight housing markets need to be easily accessible and prepared to make decisions quickly. They may need to respond fast to any questions about their offer if they don’t want to risk losing out.