Update From NAR Midyear - Housing Stimulus Legislation, Green Real Estate

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RISMEDIA, May 15, 2008-Dick Gaylord, president of the National Association of Realtors(R), urged Realtors(R) to make their voices heard on Capitol Hill this week as they press legislators to quickly enact housing legislation that will help restore consumer confidence in the real estate market.

Gaylord addressed thousands of Realtors(R) gathered here for the 2008 National Association of Realtors(R) Midyear Legislative Meetings & Trade Expo. More than 9,000 Realtors(R) and guests are expected for the meetings that will run through Saturday, May 17.

“To jumpstart the housing market, Congress needs to pass housing stimulus legislation promptly,” said Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “Because homeownership offers immediate social benefits and long-term value, Congress can help bring consumers off the sidelines by enacting common sense legislation that a wide majority of Americans support.”

The housing stimulus package includes legislation that will reform the Federal Housing Administration’s mortgage loan insurance program, which would help give home buyers access to more affordable loan options. It would also help keep mortgage costs down, especially in high-cost areas, by permanently raising loan limits for government-sponsored entities Fannie Mae and Freddie Mac, and bolster consumer confidence by strengthening their regulatory oversight.

To further stabilize the market, Gaylord called on Congress to prioritize affordable homeowners’ insurance by reauthorizing the National Flood Insurance Program, which is set to expire on September 30. Housing affordability is affected by the rising cost of insurance and the impact of natural disasters on insurance rates. “All home buyers and owners should have access to affordable flood insurance and homeowners insurance to protect them from unforeseen circumstances,” Gaylord said.

Gaylord also urged Congress to strengthen small businesses by supporting the recently introduced Small Business Health Option Program (SHOP) legislation that would give small businesses access to affordable health insurance.

Approximately 25% of NAR’s 1.2 million Realtors(R) do not have health insurance, a problem that many independent contractors and small business owners share.

Gaylord was joined by NAR President-elect Charles McMillan, who reflected on the occasion of NAR’s centennial this week. McMillan recounted some of NAR’s accomplishments during the association’s first 100 years and explained the vision behind NAR’s Second Century Initiatives, which include a new partnership with consumers, venture capital investment in technology and plans for a federal credit union.

“For 100 years, NAR has been the ‘Voice for Real Estate’ as the nation’s leading advocate for private property rights, homeownership and housing issues,” said McMillan. “For our next 100 years, we will leverage the voices of consumers and state and local association partners to press for issues important to all property owners.”

In addition to enhancing NAR’s state-of-the-art strategic lobbying and grassroots program, the association plans to develop an innovative website, featuring an array of tools and information targeted to real estate consumers, and will create new advertising and other communications to help show that consumers and Realtors(R) share common interests and concerns.

Realtors(R) in attendance were inspired by Realtor(R) Ebby Halliday, who shared her experiences and lessons learned during a career in real estate that spanned more than half a century.

In other NAR news, the association recognized that home buyers and commercial investors alike are increasingly demanding green building practices, and many experts agree the environmentally friendly building approach is here to stay.

That’s what speakers at the Land Use, Property Rights and Environment Forum told Realtors(R) attending the National Association of Realtors(R) Midyear Legislative Meetings & Trade Expo, here through Saturday.

“Realtors(R) build communities, and they can play a significant role in making sure those communities incorporate environmentally friendly building practices,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif.

Homes and buildings have a major impact on the environment. According to the U.S. Environmental Protection Agency, residential and commercial buildings account for more than one-third of the nation’s total energy use, 12% of water use, 68% of electricity consumption and 38% of carbon dioxide emissions.

At the forum, David Rodgers, deputy assistant security of the U.S. Department of Energy, announced a joint partnership with NAR to produce educational materials to educate Realtors(R) about energy efficiency in existing homes and for Realtors(R) to use in educating their clients about improving their home’s energy use.

“Realtors(R) have access to millions of home buyers and sellers each year and are in an excellent position to help raise awareness of the benefits of energy efficiency. This initiative will help Realtors(R) become better prepared for consumer demand,” said Rodgers.

A recent NAR survey of Realtors(R) who practice residential real estate showed there is high demand among potential home buyers for green features. Nearly nine out of 10 Realtors(R) said their clients are most interested in the energy efficient features of green homes and their potential cost savings. Nearly half of those surveyed said they frequently discuss green building practices with their clients and nearly 90% agreed there will be even more interest in green building a year from now.

An informal survey of Realtors(R) who practice commercial real estate showed similar findings. One-third of those surveyed said green building is important to their clients and more than half frequently discuss green building practices with their clients. Nine out of 10 agreed that in a year from now, there will be even more interest in environmentally friendly building.

“Increasing energy efficiency through green building is the cheapest, quickest and cleanest way to extend natural energy supplies, tackle climate change and enhance energy security,” said Kateri Callahan, president of the Alliance to Save Energy. Callahan believes that in the future, consumers will demand greener building practices that will be driven by policy mandates at all levels of government.

Doug Gatlin of the U.S. Green Building Council, which developed the LEED building rating system for certifying green buildings across the globe, agreed. “Green building is an industry trend, not a fad. There is a market shift toward green buildings; they are more attractive to commercial tenants because these spaces are more efficient and operate for less, and they are better for occupants’ health and increase their productivity.”

The Midyear Legislative Meetings give Realtors(R) an opportunity to visit Capitol Hill and urge Congress to act on real estate issues. Nearly 200 exhibitors are participating in the Midyear Trade Expo, which showcases the newest real estate products and services for the real estate industry.

For more information, visit http://www.realtor.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

For more real estate headlines, see:

• Realtors Return to Capitol Hill
  NAR Power Broker Roundtable: Recruiting in Today’s Market  
  How Power Brokers Maintain Profitability in a Tough Market

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