Voice for Real Estate 65: Sales, Tax Reform, Flood Ins., Appraisals

Voice for Real Estate 65: Sales, Tax Reform, Flood Ins., Appraisals


Americans are eager to buy homes Tax reform goes to Congress Appraisers are concerned about taking People
– out of property valuation. These stories and more on The Voice for Real
Estate. Hi, I’m Stephen Gasque of the National Association
of REALTORS®. The housing market is sending out mixed signals. NAR’s latest data on closed sales is down
while its latest on contract signings is up. But there is one constant in all the data:
Americans want to buy. They just can’t always find the house they
want, and sometimes when they do, they or can’t afford it! Here’s NAR Chief Economist Lawrence Yun. [QUOTE] Other data from NAR show households are increasingly
confident about the economy. NAR’s latest HOME survey, which measures
attitudes about buying and the current market, shows the share of households who think the
economy is improving soared to its highest level since NAR started surveying households
last year. That’s good news, because a new report from
the University of California at Berkeley finds that a resurgent home buying sector could
add two full percentage points to the country’s economic growth. That would push the growth rate to over 3
percent. [QUOTE] And on the commercial side, almost 60 percent
of commercial real estate practitioners say they’re seeing an increase in business openings
while only a third say the opposite: that fewer businesses are coming online. [SWOOSH] Health-care reform did NOT make it to the
House floor for a vote. So – will the same thing happen –
with tax reform? Congressional leaders have promised a sweeping
reform of the tax code, but it could take months, or years, to get a bill onto the president’s
desk. NAR will be there to stand up for the homeownership
and commercial real estate incentives that strengthen our communities and help keep U.S.
property markets vibrant. Here’s NAR President William Brown. [QUOTE] In the meantime, Congress has to raise the
debt ceiling to cover existing commitments — and pass a short-term spending measure. And let’s not forget funding federal flood
insurance, a priority for REALTORS® across the country: NAR is asking for a five-year
extension on the program, which expires this fall. NAR’s Ken Wingert has more. [QUOTE] With any
Congressional action, REALTORS® must make their voices heard. We will keep you up to date in the months
as these and other issues work their way through Congress. [SWOOSH] What’s the state of the appraisal profession? In a new report from NAR, appraisers said
they’re satisfied with their work and plan to stay in the profession. But appraisers are concerned about automated
valuations, that rely less on personal abilities, and more on online data! And also, they have mixed feeling about appraisal
management companies. These are intermediaries that match appraisers
to jobs as a way to keep an arm’s length distance between appraisers and the companies
that hire them. Here’s Ken Fears of NAR Research on what
this comprehensive report is telling us. [QUOTE] You can download that report in its entirety
on nar.realtor by searching “2017 appraisal report.” [SWOOSH] More than 1,000 executives of state and local
associations of REALTORS® were in Denver in March for the Association Executive Institute,
an annual conference focused on how to serve the nation’s REALTORS®. Tracy Rutka, director of professional standards
and practices at the Wisconsin REALTORS® Association, said she has returned to the
office bursting with ideas to help you succeed in today’s real estate industry. [QUOTE] AEI has an entire website devoted to the annual
event. Speaker handouts, videos, and other material
are all available there so if you’re an association executive and couldn’t attend
or missed some events, you can still benefit from all the insight that was shared. That website is at 2017NARAEI.com [SWOOSH] And that’s our show for the week of April
3. Yon can get more of everything we talked about
today at The Voice for Real Estate page on nar.realtor. Thank you for joining us and be sure to join
us again as we bring you all the latest news on The Voice for Real Estate.

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