Orange County N.Y. Real Estate

NAR Works for YOU, Posted by Ron
February 24, 2011 by NAR · Leave a Comment
Filed under: Home Ownership Matters, Legislative, Ron Phipps
You are working harder than ever to close transactions and earn a living. While you are working to help buyers and sellers in your markets, we’re working day in and day out to make real improvements to your business.

How?

1.We’re unlocking credit markets. As a direct result of our meetings with the four largest banks in America, at least one bank has loosened credit restrictions. (We’re still working on the short sales and foreclosure problems).
2.We launched a national campaign to counter attacks on home ownership. From our Public Awareness Campaign to ads connecting housing to jobs, we are winning the debate. Potential buyers are getting off the sidelines and into the market, and that has a direct impact on your bottom line.
3.We are creating jobs and boosting the economy. We have met with officials in Congress and at the White House non-stop to explain why home ownership is important and policies that support it should remain in place. Our voice is being heard. In our latest meetings with the Obama Administration, officials agreed that any changes to the secondary mortgage market must preserve a healthy housing market and economic recovery.
4.We’re reaching consumers in YOUR cities. In March, we are kicking off our first-ever bus tour. We realize our national outreach can only do so much. We need to work with you, in your cities, to reach consumers and strengthen our markets.
Is our work paying off? You decide.

Since we began our efforts last fall, existing home sales have risen steadily. In fact, 49 states say sales rose in the fourth quarter of 2010. Word has it that home sales are up again in January.

This recovery is happening in spite of continued high unemployment and tighter than normal credit markets. And, we are determined to keep moving forward.

Apparently, home ownership still is a core American value. And, thanks to America’s REALTORS®, who have consistently raised our voice on important housing issues, it looks like it will stay that way for the foreseeable future.

Spring break? Rent a luxury vacation house

2011-02-22T00:46:00.000-05:00

Spring break? Rent a luxury vacation house

Grab a second-home bargain

2011-02-19T07:38:00.000-05:00

Grab a second-home bargain

Bright spot for mortgages: Missed payments ease

2011-02-17T19:39:00.000-05:00

Bright spot for mortgages: Missed payments ease

Home construction rises in January

2011-02-16T18:23:00.000-05:00

Home construction rises in January

Obama's Mortgage Plan

2011-02-14T10:18:00.001-05:00

WASHINGTON — The Obama administration wants to shrink the government's role in the mortgage business — a proposal that would remake 70 years of federal policy aimed at encouraging Americans to buy homes.

The Treasury Department rolled out a plan Friday to slowly dissolve Fannie Mae and Freddie Mac, the government-sponsored programs that for decades have purchased mortgages so that more home loans could be made.

Fannie and Freddie own or guarantee about half of all mortgages in the U.S.

But both programs got in big trouble by investing in subprime mortgages and required bailouts during the 2008 financial crisis.

Exactly how far the government's role would be reduced was left to Congress to decide, but all three options the administration presented would create a housing finance system that relies far more on private money.

"Is it a good idea? As long as it keeps the mortgage market open to people," said Michael Haymes, president of ReMax Realty Group in Pittsford. "We need to have the housing market continue to turn around."

Mortgages "would be a little less easy to obtain, and the terms would be a little less attractive," said economist Nigel Gault of IHS Global Insight.

Treasury Secretary Timothy Geithner said that the government would proceed "very carefully" and that its smaller role would be phased in over at least a five-year period.