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    WASHINGTON (March 11, 2011) - Congress needs to strengthen and reauthorize the National Flood Insurance Program for the long term to prevent undermining the fragile real estate market recovery, the National Association of Realtors® said in testimony today before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity.

    The NFIP authority is set to expire on September 30 for the 10th time in two years. The program ensures access to affordable flood insurance for more than 5.6 million home and business owners in 21,000 communities nationwide.

    ... Read More

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    WASHINGTON (March 15, 2011) - “Owning a home offers myriad benefits throughout the year, but some of the financial advantages of home ownership are most apparent at tax time,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “As many of today’s hard-working American families are feeling a financial squeeze, the tax benefits that can come from owning a home can be a welcome relief.”

    A number of tax deductions and credits are still available for home owners; these include deductions – with specific limits... Read More


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    WASHINGTON (March 18, 2011) - A month-long Home Ownership Matters Bus Tour hosted by the National Association of Realtors® makes a stop this week outside the Denver Home Show on Saturday, March 19. NAR leaders and invited local officials will be on hand to hear from consumers and speak with them about how shifting priorities and public policies in Washington could affect home ownership here in Denver.

    “We need to keep housing first on the nation’s public policy agenda, because housing and home ownership issues affect all Americans,” said NAR President Ron... Read More


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    WASHINGTON (March 21, 2011) - Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®. 

    Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 9.6 percent to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January, and are 2.8 percent below the 5.02 million pace in February 2010.... Read More


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    PORTLAND (March 25, 2011) - After several stops throughout the country this month, the Home Ownership Matters Bus Tour will stop in Portland on Saturday, March 26, outside the Portland Better Living Home Garden & Lifestyle Show. Hosted by the National Association of REALTORS®, the bus tour will give consumers the chance to speak with NAR leaders and local officials about how shifting priorities and public policies in Washington could affect home ownership in Portland.

    “Our government has historically supported home ownership because it helps families build their... Read More


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    WASHINGTON (March 28, 2011) - As Realtors®’ businesses grow, so do their needs for quality office supply products. Now OfficeMax and the National Association of Realtors® are proud to offer discounts to NAR members on office supplies and services through the REALTOR Benefits® Program.

    “The REALTOR Benefits® Program provides value-added offers and savings to Realtors®,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “The OfficeMax Partner Advantage Program is custom-designed to provide exceptional... Read More


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    WASHINGTON (March 28, 2011) - Pending home sales increased in February but with notable regional variations, according to the National Association of Realtors®.

    The Pending Home Sales Index,* a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 recorded in February 2010. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

    Lawrence Yun, NAR chief... Read More


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    WASHINGTON (March 29, 2011) - High down payment requirements being proposed by federal regulatory agencies as part of the upcoming rulemaking under the Dodd-Frank Wall Street Reform and Consumer Protection Act will unnecessarily burden homebuyers and significantly impede the economic and housing recovery, according to the National Association of Realtors®.

    Six agencies, including the Department of Housing and Urban Development, Federal Deposit Insurance Corp., Federal Housing Finance Agency, Federal Reserve, Office of the Comptroller of the Currency, and the U.S. Securities and... Read More


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    WASHINGTON (March 30, 2011) - The market share of vacation- and investment-home sales1 held steady in 2010, although the sales volume declined with the overall market, according to the National Association of Realtors®.

    NAR’s 2011 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2010, shows vacation-home sales accounted for 10 percent of transactions last year while the portion of investment sales was 17 percent, both unchanged from 2009.

    NAR Chief Economist Lawrence Yun... Read More


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    WASHINGTON (March 31, 2011) - The National Association of REALTORS® today urged Congress to move cautiously when reforming government-sponsored enterprises Fannie Mae and Freddie Mac.

    Reforming America’s housing finance market can only be achieved through a forward-looking, comprehensive approach that supports the housing and economic recoveries, said NAR President Ron Phipps in testimony before the House Subcommittee on Capital Markets today.

    “As the leading advocate for home ownership, NAR strongly agrees that the existing system failed and that reforms are... Read More


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    WASHINGTON (April 1, 2011) - The National Association of Realtors® will join Americans across the country as they honor Fair Housing Month this April. As the leading advocate for home ownership, NAR strongly supports the Fair Housing Act and believes that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream.

    This April marks the 43rd anniversary of the 1968 landmark Fair Housing Act, which prohibits discrimination based on race, color, national origin, religion, sex, familial... Read More


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    WASHINGTON (April 4, 2011) - Americans favor walkable, mixed-use neighborhoods, with 56 percent of respondents preferring smart growth neighborhoods over neighborhoods that require more driving between home, work and recreation. That’s according to a recent study, the Community Preference Survey, by the National Association of REALTORS®.

    “REALTORS® care about improving communities through smart growth initiatives,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R... Read More


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    WASHINGTON (April 13, 2011) - A new bill to improve the process for approving short sales may soon bring relief to distressed home owners who are unable to keep their homes and hope to avoid foreclosure. The bill, introduced in the U.S. House yesterday and strongly supported by the National Association of Realtors®, would impose a deadline of 45 days on lenders to respond to short sale requests.

    The legislation, the “Prompt Decision for Qualification for Short Sale Act of 2011,” was offered in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.).... Read More


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    WASHINGTON (April 15, 2011) - The National Association of Realtors® welcomed middle school students from across the country this week to participate in the annual School of Future Design Competition. The competition encourages students to work in teams to plan and design a school that will improve the learning environment and the facility’s energy efficiency, be sensitive to the environment, and is integral to the surrounding community. This year’s winners were announced last night during an event held at NAR’s D.C. offices.

    “Realtors® help build... Read More


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    WASHINGTON (April 18, 2011) - Realtors® now have access to an errors and omissions insurance program from the National Association of Realtors®’ newest REALTOR Benefits® Partner, Victor O. Schinnerer & Company, Inc.

    “Realtors® help consumers invest in their future through home ownership,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “E&O insurance helps Realtors® protect their own business investment while they’re helping buyers, sellers and investors achieve their real estate goals.... Read More


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    WASHINGTON (April 20, 2011) - Sales of existing-home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the National Association of Realtors®.

    Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92 million in February, but are 6.3 percent below the 5.44... Read More


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    WASHINGTON (April 28, 2011) - March saw another increase in pending home sales, with contract activity rising unevenly in six of the past nine months, according to the National Association of Realtors®.

    The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February. The index is 11.4 percent below 106.2 in March 2010; however, activity was at elevated levels in March and April of 2010 to meet the contract deadline for the home buyer tax... Read More


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    Washington, DC, May 05, 2011

    Commercial members of the National Association of Realtors® will have greater access to commercial information exchange data through a new mobile application by ePropertyData.

    ePD, a leading CIE solutions provider, is owned by NAR and operates CIEs throughout the U.S., offering data solutions to more than 150,000 commercial real estate professionals.

    “Realtors® build communities, and Realtors® who practice commercial real estate help revitalize communities by facilitating investment which supports millions of jobs... Read More


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    WASHINGTON (May 9, 2011) - Realtors® from across the country are meeting with legislators, public policy makers and industry leaders this week to address pressing concerns and issues that affect home owners, aspiring home owners and real estate investors everywhere as the Realtors® Midyear Legislative Meetings & Trade Expo begins.

    “As leading advocates for home ownership, housing issues and private property rights, Realtors® know that the time for action is now,” said NAR President Ron... Read More


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    WASHINGTON (May 10, 2011) - The pendulum on mortgage credit has swung too far in the other direction after the recent housing downturn and is putting an unnecessary burden on creditworthy consumers, impeding the economic and housing market recoveries. That’s what a panel of industry experts told several thousand Realtors® gathered at a special symposium, Ensuring Mortgage Availability for Creditworthy Homebuyers, during the Realtors® 2011 Midyear Legislative Meetings & Trade Expo in Washington, D.C., here through... Read More


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