REALTOR® Advocacy Wins Bring Relief to Home Buyers
Nearly 2,000 attendees gathered last week at the RPAC President’s Circle Conference to hear from REALTOR® champions and top political leaders. President’s Circle plays a key role in NAR’s powerful advocacy operation as we work to make the American Dream affordable, accessible, and available to all. Read more about recent REALTOR® wins to bring relief to home buyers, including reducing mortgage insurance premiums and advancing remote online notarization.
What You Need to Know
The U.S. House of Representatives passed the SECURE Notarization Act at the end of February, marking another crucial step toward allowing nationwide use of remote online notarization technology. NAR has advocated for remote online notarization since 2018 and worked to build support on both the state and federal levels. NAR will continue to urge the bill’s passage in the Senate to promote more accessible, efficient, and secure real estate transactions.
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In late February, Vice President Kamala Harris and HUD Secretary Marcia Fudge announced a reduction in mortgage insurance premiums (MIPs) by 30 basis points. NAR has continuously advocated for responsibly reducing MIPs to help qualified home buyers struggling with affordability in the current environment. FHA projects that this reduction will save buyers with FHA mortgages an average of $800 in their first year of homeownership.
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In late February, Vice President Kamala Harris and HUD Secretary Marcia Fudge announced a reduction in mortgage insurance premiums (MIPs) by 30 basis points. NAR has continuously advocated for responsibly reducing MIPs to help qualified home buyers struggling with affordability in the current environment. FHA projects that this reduction will save buyers with FHA mortgages an average of $800 in their first year of homeownership.
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NAR’s 2023 Snapshot of Race and Home Buying in America found that while the U.S. homeownership rate increased to 65.5% in 2021, the rate among Black Americans lags significantly (44%) and is nearly 29 percentage points less than White Americans (72.7%), representing the largest Black-White homeownership rate gap in a decade. Meanwhile, Asian and Hispanic Americans experienced the biggest homeownership rate gains.
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$19M
As of February 28, RPAC has reached 38% of its national fundraising goal, with more than $19 million raised at all three levels of the association, and 49% of its federal disbursements allocation goal, with over $4.8 million raised at the national level. RPAC currently has 2,156 Major Investors, 541 President’s Circle members, and a 24% participation rate.
The REALTORS® Relief Foundation announced its 2023 fundraising campaign, aiming to raise $5 million this year to provide housing relief to victims of hurricanes, floods, wildfires, and other disasters.
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The REALTOR® Party At Work
Don’t forget to bookmark NAR’s Washington Report for the latest policy updates.
Charleston Trident Association of REALTORS® Promotes Opportunity and Affordability as Part of Coalition to Bolster Regional Resilience
The Charleston Trident Association of REALTORS® is supporting a campaign to engage the public in economic opportunity and housing-related issues in South Carolina’s Berkeley-Charleston-Dorchester County region. As part of a forward-thinking coalition called OneRegion, REALTORS® are ensuring affordable housing is a priority, and a Consumer Advocacy grant from the REALTOR® Party is helping to get the community on board.
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Greater Greenville Association of REALTORS® Uses the REALTOR® Party’s Growth Polling Program to Assess Voter Attitudes
To gauge voter sentiment on a range of growth-related issues, the Greater Greenville Association of REALTORS® tapped into the REALTOR® Party’s State & Local Growth Polling Program. The results – some expected, some surprising – are helping the association assist Greenville County as it shapes policy and sends important legislation to the polls.
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Houston Association of REALTORS® Hosts Housing Symposium for Capacity Crowd
The Houston Association of REALTORS® (HAR) hosted a symposium on local housing affordability and inventory issues to instruct its members about barriers to adequate housing and ways to overcome these obstacles. A REALTOR® Party Housing Opportunity grant supported the event, which accommodated twice the expected number of participants.
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New Orleans Metropolitan Association of REALTORS® Minimize Impact of New Rental Regulations
Faced with the prospect of new restrictive rental regulations, the New Orleans Metropolitan Association of REALTORS® first tried to reason with the City Council. When that failed, they turned to the REALTOR® Party for assistance. A Land Use Initiative analysis and a Call For Action convinced lawmakers to pass a mitigated version of the regulations.
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REALTOR® Association of Southwestern Illinois Helps Transform Belleville Transit Center
Commuters in Belleville, Ill., now have a bright, vibrant pedestrian plaza thanks to the REALTOR® Association of Southwestern Illinois (RASI). Working in partnership with Citizens for Modern Transit, AARP, the St. Clair County Transit District, and the City of Belleville, RASI used a Placemaking grant from the REALTOR® Party to transform the Belleville Transit Center into a colorful and engaging space.
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Resources & Opportunities
REALTOR® Party Conference Grants Available!
State and local REALTOR associations can apply for a grant to host their own REALTOR® Party Conference to educate members and further the mission of the REALTOR® Party. Learn more and apply today.
Questions? Contact Christine Windle at 202-383-1135.
Get the Latest on Modern Growth Management Techniques
Since 2008, NAR’s Growth Management Fact Book has provided a comprehensive look at modern growth management techniques – such as urban growth boundaries, housing moratoria, adequate public facilities, and cluster zoning – to help REALTOR® associations develop well-reasoned policy positions on growth-related priorities. Sections cover impacts on property values, development costs, amount and patterns of development, housing affordability, incentive-based alternatives, and recommended talking points.
Questions? Contact Hugh Morris at 202-383-1278.
Expert Advocacy Help When You Need It
Legislative and regulatory proposals that may do harm to property rights often arise quickly and require expert analysis. The Land Use Initiative will analyze and provide talking points for state and local associations on proposed planning and zoning-related measures that impact the transfer of real property. Learn how the Scottsdale Area Association of REALTORS® used the LUI to champion property rights and allow for future development.
Questions? Contact Christine Windle at 202-383-1135.
Advocacy Resource Guide
The Advocacy Resource Guide – Vote, Act, and Invest, REALTOR® Party – includes resources and tools that can help associations reach their advocacy goals and meet Core Standards requirements. State and local REALTOR® association staff can request printed copies for events and conferences by contacting Ted Wright. Requests for printed guides must be submitted two weeks prior to the event.
Community, Opportunity, Unity. Let’s Advance Fair Housing for All.
Fair Housing is a commitment to honest and impartial professional service. Check yourself and help protect against fair housing violations through continued education. NAR’s ACT! Fair Housing Plan provides fair housing trainings and resources to help you prevent discrimination in real estate.
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When Your Community Thrives, So Do You
As a REALTOR®, you step up to help people in need. You understand that helping just one neighbor can impact an entire neighborhood. Let REALTORS® Are Good Neighbors celebrate you and all you do to spread joy and inspire others. Share your volunteer story today!
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Looking for New Ways to Market Your Business?
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