August 2008 Archives

Last month, the President signed into law the Housing and Economic Recovery Act of 2008   to stimulate the housing market and put an end to certain rules benefiting homebuyers and those owning second homes.

The measure includes a $7,500 interest-free loan (aka "tax credit") for first-time home buyers,  permanent increases to government-sponsored enterprises (GSE) (Fannie Mae and Freddie Mac) and Federal Housing Administration (FHA) loan limits, a program to expand FHA that would allow more homeowners to refinance their mortgages while altering seller-funded downpayment assistance on FHA loans and narrowing capital gains on second homes.

As a REALTOR®, you have so many demands on your time.  Between listing appointments, showings, paperwork to complete and advertising to place, how can you effectively keep up with real estate issues of concern that can impact your business and clients?  When you present contracts, the issues discussed at the county government center can cost your clients hundreds, if not thousands of dollars.  Each time your elected officials vote on real estate issues, they either put money into or take money out of your pockets.

Whether we like it or not, your ability to make a living as a REALTOR® is affected by the decisions made by government officials.  That's why the REALTORS® Political Action Committee raises voluntary funds from REALTORS® in order to help elect public officials who understand the importance of homeownership and the real estate industry.  In just the past few years, RPAC has helped the REALTOR® organization fight off harmful legislation and promote policies at all levels of government that strengthens the real estate industry including: