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NAR's Letter to Congress

NAR's Letter to Congress. Please print out and send to your Congressman.

Subject: Reviving the real estate market must be the focus of a future stimulus bill

Dear Representative/Senator ???,

As a constituent and a Realtor, I ask that Congress focus any future stimulus package on reinvigorating housing markets. The current crisis is the result of problems in the nation's housing markets. Efforts to boost the economy must calm jittery real estate markets.

Earlier, the National Association of Realtors (NAR) proposed a 4-Point Housing Stimulus Plan that should be part of any new stimulus package. NAR's plan would:

  • Make the $7500 first-time homebuyer tax credit available to all buyers and eliminate repayment requirements. The credit's limited availability and repayment requirement severely limit the credit's use and effectiveness.
  • Make the 2008 FHA, Fannie Mae and Freddie Mac loan limits permanent. New rules for 2009 will reduce them. Now is not the time to limit mortgage affordability.
  • Get the Treasury relief program back on track and target more funds to mortgage relief. Create a federal mortgage interest buy-down program to make below-market rates available and stabilize home prices.
  • 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. Banks should not manage home sales and purchases.

Housing has always lifted our economy out of past economic downturns. It's imperative now to foster a housing recovery, so that the economy can recover. Thank you for your hard work.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Marianne Snygg, GRI, ABR, ASP
Broker Associate
ERA Herman Group Real Estate

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Colorado Springs and Monument Real Estate

Comment balloon 6 commentsMarianne Snygg • December 17 2008 09:14AM

Comments

Thanks for the info. I know several Realtor partners that need / want to get this sent out.

Posted by Home Loan Search.Online (Home Loan Search Online) over 10 years ago

Hey Darrell: Thanks so much for your comment...and for leaving it twice! Yup, it sounds like a good thing. I really agree with "permanently bar banks from engaging in real estate brokerage and management." It just gums things up and temps those that are greedy. As a banker, how do you feel about that?

Posted by Marianne Snygg, ABR, ASP, GRI, SFR (ERA Herman Group Real Estate) over 10 years ago

I guess we just have to decide if we want to go back to the old way of doing things with more regulation, or have a more innovative system. Innovation is what has got us in this mess in the first place, but do we really want to be regulated to death either?  Maybe there is a happy medium.

Posted by Brian Griffis (Realty Choice) over 10 years ago

Brian: We are regulated to death, and it's probably a good thing, however inconvenient it is. But, mortgage brokers haven't been, until this year when Colorado started licensing lenders. It cleaned our industry of the shady lenders. And I think it would be good to that in all states.

Posted by Marianne Snygg, ABR, ASP, GRI, SFR (ERA Herman Group Real Estate) over 10 years ago

Grassroots politics!  Seems that some politicians do listen to their constituents.  Thanks for sharing!

Posted by Sassy Skelton (Staged Right Professional Home Staging Colorado Springs) over 10 years ago

Sassy: Thanks for stopping by and commenting.

Posted by Marianne Snygg, ABR, ASP, GRI, SFR (ERA Herman Group Real Estate) over 10 years ago

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