2008 December Newsletter - Alaska Association of Realtors

More documents

Recommendations

Info

NAR Housing Stimulus Plan “Call for Actions” By PeggyAnn McConnochie NAR Director ACH Consulting Juneau Sometimes it is good to live in a state that is so far away from the contiguous 48 that we are forgotten. Sometimes. Sitting at the Board of Directors meeting in Orlando with the rest of the Alaska Delegation, the better term) was whether or not the Board of Directors would support NAR’s Four-Point Housing Stimulus Plan. This is the plan that, once approved, is then given to our lobbying team so that they know what we as an Association want in a stimulus plan when lobbying the Congress. The guts of the plan as outlined were as follows: credit available to all buyers and eliminate repayment requirements. The credit’s limited availability and repayment requirement severely limits the credit’s use and effectiveness. 2. Make the 2008 FHA, Fannie Mae and Freddie Mae loan limits permanent. New rules for 2009 will reduce them. Now isn’t the time to limit mortgage affordability. 3. Get the Treasury relief program back on track and target more funds to mortgage relief. Create a federal mortgage interest buy-down program to lower rates to 4.5% or lower and stabilize home prices. The proposal calls for a shortterm government buy-down of mortgage rates rate mortgage (down from current rates of ap- would apply to the purchase of all new and/or There are a number of ways in which the government ultimately could decide to structure and fund this program, which could be addressed as part of the stimulus packages currently being discussed in Washington. 4. Permanently bar banks from engaging in real estate brokerage and management. The banks have proven they have enough to do to simply manage the loan process. Do we really want them to manage home sales and purchase. discussion centered on whether or not the four Points were the right marching orders for our lobbyists. No one argued that the fourth point NAR still believes that banks should not be in the real estate business (and aren’t we glad they aren’t in it now)! Several wanted to make this bill inclusive of commercial real estate; that idea died after much discussion. The anticipated price tag for including commercial was not investigated and therefore the directors did not want this point. The Leadership Team heard loud and clear that we need to also pay close attention to the credit crunch in the commercial sector as that is closely aligned with the residential sector. (Stimulus Plan, continue on page 7) 6 Alaska REALTOR® • December 2008 newsletter.indd 6 11/24/2008 12:23:29 PM
(Stimulus Plan, continued from page 6) Speaker after speaker rose to give stories as to how bad the markets were in their areas; Florida and California were the two states that spoke most often. They spoke of housing prices plummeting 50% or more and foreclosure rates skyrocketing. (Aren’t you glad that you aren’t trying to make a living in real estate there?!?) During the previous afternoon at our Region 12 Caucus (Alaska, Washington, Oregon, Idaho and Montana) we discussed this plan in depth. Even within our Region we could see that there are many in our Association who just want what the consequences; no matter what the long term cost to the economy. Several well-spoken Alaskans (like Amy Krier of Fairbanks) ques- several of the plan’s points, such as giving free buyers. Luckily for us in Alaska, our markets throughout the state are OK. They may be a little slower than the past couple of years in some areas, but in other areas of the state they are strong and vital. More inventory means more choices for residential and commercial buyers and tenants. Credit is indeed a bit tighter but there are is lucky. No doubt there are many areas of the dential as well as commercial markets. Remember too, some areas of our country never did see 5 years. So what happens now when you receive a NAR Call to Action asking you to support all or part of the NAR Housing Stimulus Plan? Please don’t just delete it. Open it. Read it carefully. And vote your conscience. Send it on if you agree. If not and you can take the time, write a note and send NAR your comments. NAR is trying to look at the economy on a national basis, but they need to know how you feel and what you think about an issue. It will only take a moment of your time but it may help to change and shape NAR’s policies in the future. Thinking about buying a home? Attend a HomeChoice seminar whether considering your first home or your fifth. Save up to $ 250 on AHFC commitment fees! A FREE 8-hour home buyer education seminar! Learn the process, programs, lenders, Realtors ® , budgets and terminology. Visit www.ahfc.us for seminar schedules. Pre-registration required and can be done online or email: register@ahfc.state.ak.us. For more information call 907-330-8437 or 800-459-2921 (from outside Anchorage). December 2008 • Alaska REALTOR® 7 newsletter.indd 7 11/24/2008 12:23:30 PM
Page 2 and 3: KNOWLEDGE RESPECT COMMITMENT “Aly
Page 4 and 5: NAR Director’s Report “2008 REA
Page 8 and 9: Call or visit the Alaska USA Mortga
Page 10 and 11: Member Survey Decutive Committee of
Page 12 and 13: Association News 2009 Leadership Co
Page 14 and 15: Annual RPAC Report By Art Clark RPA
Page 16 and 17: 2008 RPAC Score Card Board Members
Page 18 and 19: (Newsbites, continued from page 17)
Page 20 and 21: GRI, Graduate REALTORS® Institute
Page 22 and 23: newsletter.indd 22 11/24/2008 12:24
Page 24: Alaska Association of REALTORS® 42

2008 December Newsletter - Alaska Association of Realtors

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?