Each month, the President of KCRAR writes a column for Realeyes, our newsletter covering topics of the day from KCRAR and Heartland MLS. Articles focus on issues of interest for Kansas City area REALTORS®, and the President's column often reflects on current events in the industry, new and ongoing KCRAR programs and events, and much more.
Here is the most recent President's column:
March 2010
Leadership Comments
By Renee Ryan-Edwards, CRS, CRB
2010 KCRAR President
In addition to gearing up for spring weather, REALTORS® locally and across the nation are also preparing for a busy spring selling season! Though home sales overall in November and December decreased slightly from previous months, the underlying trend is two-fold: home sales leveled off after a huge rush to beat the original tax credit deadline on Nov. 30, and they’re still staying nicely above last year’s levels. And now that the tax credit has been expanded and extended until April 30, what typically signals the busiest months of the year promises to be even better!
Speaking of the tax credit, it’s important to take note of the REALTOR® legislative involvement that helped convince Congress to pass both the original and expanded versions. Thanks to the lobbying power of NAR and your RPAC dollars at work, Congress voted to stimulate housing and improve our economy, and so many individuals and industries (not just REALTORS®) are reaping the rewards.
But there’s still much work to be done in the way of our legislative priorities in 2010 in order to protect your business. NAR recently released its Legislative and Regulatory Policy priorities for 2010, and several of the top issues are items we’re following closely at KCRAR.
The first one is opposing any and all proposals that would reduce the value of the mortgage interest deduction or erode the $250,000/$500,000 capital gains exclusion on the sale of a principal residence.
Next, we are advocating policies that would ensure there is adequate liquidity in the mortgage market while providing for the safety and soundness of Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). We want to continue to provide homeownership opportunities for underserved and unserved markets while restructuring the entities and protecting FHA’s capital reserve requirement.
Locally, we’ve been focusing on improving the short sale process and helping inform you on this important area of real estate. We’ve done this by offering an expert panel on short sales (held in two locations in November) and expanding our Continuing Education and Free Friday Focus Workshop offerings that focus on short sales. And in late March, we’re offering NAR’s Short Sale and Foreclosure Resource certification right here at KCRAR! See information about how to register for this newly-expanded certification course here.) Short sales are also a priority for NAR this year, and they’re suggesting a uniform process, standard forms, and deadlines as they monitor the implementation of the Home Affordable Foreclosure Avoidance Program (HAFA) to make it a success.
NAR is urging the adoption of federal policies that promote increased lending and access to credit in commercial mortgage markets. As some of us heard at Lawrence Yun’s Real Estate Forecast held in Overland Park in January, the recovery of the commercial market isn’t happening as fast as residential, so we’re keeping a close look on this for our commercial members.
Finally, in 2010 NAR will continue to represent the interests of REALTORS® as self-employed individuals and small employers, as Congress continues efforts to create affordable health insurance coverage and control rising health care costs. We know that health care and the overall health of REALTORS® is important, and we’ll be addressing this issue locally in 2010, beginning with a focus on health at our 2010 REALTOR® Resource Rally trade show on March 11. (See here for more information on the Rally.)
As you know, Government Affairs and legislative involvement are crucial for REALTORS®. We must constantly make our voices heard in a number of ways, whether by keeping in touch with your local elected representatives, participating in Calls to Action, or contributing to RPAC, the REALTORS® Political Action Committee.
Do you know that RPAC saved the average REALTOR® over $6,800 in 2009? In order to continue promoting and protecting your business, RPAC needs your continued investment in 2010. Contributions can be made in a number of ways, including online and at various KCRAR Region Events throughout the year. State events are also planned – for example, MAR members can attend the 3rd Annual Marge Pfaff RPAC-MO Statewide Auction on Thursday, April 8, at University Plaza Hotel in Springfield, Mo. For more information on this event, contact MAR at 573-445-8400.
For more information about RPAC or to find out how you can contribute, contact Cristalle Bozarth at cristalleb@kcrar.com or 913-266-5908.
Have a great month!
Contributions to RPAC are voluntary and used for political purposes. You may refuse to contribute without affecting your membership rights. 70% of each contribution is used by RPAC to support state and local political candidates. 30% of each contribution is sent to national RPAC. Of that amount, 90% is used by national RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a, while the remaining 10% is used for other federal grassroots political activities. Contributions are not deductible as charitable contributions for federal income tax purposes.