Call For Action: Support H.R. 3700
The REALTOR® Party believes the United States Senate is missing an opportunity to improve housing markets across the country. The Party needs the help of REALTORS® nationwide to help tell the Senate to get to work and make homeownership a priority!
REALTORS can take action now, urging their Senators to pass H.R. 3700, the “Housing Opportunity Through Modernization Act of 2016.” This is a bill that makes needed reforms to the Federal Housing Administration (FHA) condominium loan program, federal-assisted housing programs and Rural Housing Service loan programs.
The bottom line is this bill makes buying a condo much easier by expanding opportunities for first-time homebuyers and streamlining rural housing programs for low-income rental residents. Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers. Unfortunately, barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.
The House of Representatives passed this bill unanimously with a bipartisan vote of 427-0 and REALTORS® now need the Senate to act. This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:
Removing a burdensome and expensive FHA Condo approval process
Reducing FHA restrictions on the number of condos available to homebuyers
Permanently streamlining Rural Housing Service loan processing
Click here to act on this Call for Action.
LeadershipNVAR encourages Nevada REALTORS® to support backpack drive
LeadershipNVAR’s Class of 2016 is hosting a backpack drive to benefit Boys and Girls Clubs within Nevada. LeadershipNVAR, the Nevada Association of Realtors®’ (NVAR) signature program for personal and professional growth, is promoting the drive as part of its annual class project.
Class members are asking individuals to showcase their generosity by donating a filled backpack to help a student in need. LeadershipNVAR is working with Boys and Girls Clubs of America, a partner charity for the National Association of REALTORS® (NAR).
Donations can be made by giving a backpack and school supplies. Click here to see the backpack drive flier and a list of school supplies.
If interested, individuals can make a cash donation in lieu of a backpack/school supplies purchase. Click here to make a cash donation to BGCA. Be sure when you donate to type in ‘Nevada’ under the REALTOR® association name. Also, if there is a specific area/club you want your donation to go to, please specify in the corresponding box.
Contributions or gifts to Nevada Association of REALTORS® are not deductible as charitable contributions for federal income tax purposes.
The drop-off deadline is August 1 and drop-off locations are listed below:
- NVAR: 760 Margrave Drive
- RSAR: 5650 Riggins Court, Suite 200
- GLVAR: 1750 East Sahara Ave.
- Signature RE Group: 9525 Hillwood Dr. Suite 120
- Signature RE Group: 7181 North Hualapai Way
- Signature RE Group: 2200 Paseo Verde Pkwy, Suite 300
- Realty Executives: 1071 South Carson Street
- Realty Executives: 1511 HWY 395
- ECAR: 557 W. Silver Street, Suite 201A
- Coldwell Banker: 114 Tonka Lane
*Donations made directly to BGCA may qualify as tax deductible. If donating cash through above link, you will automatically be receiving a form from BGCA.
Stacking Up: Nevada eclipses national average for REALTOR® designations earned
There is growing sentiment that becoming a REALTOR® should require tougher standards, specifically more robust training and education. Given that groundswell from inside and outside the REALTOR® community, continuing education classes and earned designations will be seen more as necessities than luxuries.
NAR’s state education directors released a breakdown, listing the number of designations earned by REALTORS® in every state. Nevada’s 15,300 REALTORS have earned 4,509 designations, just less than one designation for every three REALTORS, but well above the 1-in-4 national average. Designations come in all shapes and sizes, distinguishing REALTORS for everything from expertise in social media and emerging technology (e-PRO) to a heightened proficiency in handling transactions for military personnel (MRP).
Read the entire story here.
More News You Can Use
2015 Annual Report
The report was presented to NVAR's Board of Directors at their April 27 meeting in Las Vegas. You can evaluate all the key facts and figures. To read the 2015 NVAR Annual Report, click here.
NVAR Directors address squatter issues
Given the foreclosure crisis that Nevada, and specifically Las Vegas, has suffered through over the past decade, it should come as no surprise that Clark County has also seen a spike in squatter-related issues in recent years. NVAR Directors Scott Beaudry and Vandana Bhalla, along with Henderson Police Dept. Sergeant Kirk Moore, were all guests last month on KNPR’s radio show The State of Nevada, discussing growing concerns over squatters in the Las Vegas valley.
A squatter is someone who takes over a property without owner consent. The State of Nevada host Carrie Kaufman said Las Vegas Metro received 4,500 calls of squatter complaints in 2015, up 22 percent from the prior year. However, what’s more alarming is that figure has jumped by 169 percent since 2012. Moore said HPD has received nearly 100 calls since November when AB386 went into effect. The new law governs how law-enforcement agencies investigate homes that have been broken into. Click here to read more. Click here to listen to the complete radio program.
Reno jumps to fourth among mid-size economic hot spots
Las Vegas sits 13th in large-size metros
RCLCO, a leading national real estate strategy firm, first published an Economic Hot Spot map in 2013. At the time, the economy was recovering from the Great Financial Crisis at a very uneven pace across regions. The idea was to get a sense of where growth was currently happening and why. Based on trailing and forward 12-month indicators of factors such as growth, income levels, and economic structure, the map gave us a good indication of regional growth patterns.
In fact, the map turned out to be quite telling. Many of the high-ranking markets at the time were tech and energy related—and subsequently experienced substantial job growth that led to some of the hottest commercial real estate markets in the country, in terms of both demand and new construction. In fact, the top 15 large markets in our 2013 rankings accounted for 58% of net office absorption and 64% of new office construction in the 51 largest markets in the United States in 2014 and 2015. Click here for full story.