News

Realtors® Applaud House Passage of “Housing Opportunity Through Modernization Act”05 Feb

WASHINGTON (February 2, 2016) — The U.S. House of Representatives voted today to advance legislation that will expand opportunities for homeownership. H.R. 3700, the “Housing Opportunity Through Modernization Act,” includes a number of initiatives that have strong support from the National Association of Realtors®, who hailed the vote as important progress for home buyers and sellers.

“This legislation will put homeownership in reach for more families, and we applaud Congress’s work to take us there,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “We look forward to seeing it advance through the legislative process and to the President’s desk, so it can be signed into law.”

NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance. In particular, NAR championed the inclusion of reforms to current Federal Housing Administration restrictions on condominium financing.

Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.

These include efforts to make FHA’s recertification process “substantially less burdensome,” improving a process that is often costly and which condo developments must repeat every 24 months. H.R. 3700 also lowers FHA’s current owner-occupancy requirement from 50 percent to 35 percent and requires FHA to replace existing policy on transfer fees with the less-restrictive model already in place at the Federal Housing Finance Agency.

Additionally, the “Housing Opportunity Through Modernization Act” streamlines the process for exemptions to FHA’s rule requiring that condominium projects have no more than 25 percent of the space dedicated to commercial use. This effort is in line with the Department of Housing and Urban Development’s initiative to promote neighborhoods with a mix of residential housing, businesses and access to public transportation.

Finally, H.R. 3700 includes further support for rural housing loans and multifamily housing initiatives.

“There is tremendous demand for affordable housing, and H.R. 3700 offers fresh opportunities for creditworthy borrowers to become homeowners when they choose to,” said Salomone. “NAR thanks Congressman Blaine Luetkemeyer, R-Mo, for introducing the bill, as well as leaders in the House for making it a priority. We look forward to working with our partners at all levels to advance this legislation in support of homeownership.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

2017 NAR Committee Recommendations

Are you or someone you know interested in serving on an NAR committee in 2017?   

The online Committee Recommendation Form on REALTOR.org will be accepting recommendations beginning on March 7th!  (Instruction documents will be available on March 1st.)  Please read the following important information regarding the Committee Recommendation Process:

Re-appointment to Committees & Continuing Terms

Committee members are NOT automatically considered for reappointmentA member currently serving on a committee, whose term expires in 2016 MUST submit a recommendation via the Online Committee Recommendation Form if he/she would like to be considered for service in 2017. 

Members who have a continuing term that expires in 2017 or 2018 do not need to submit a recommendation to remain on the committee; they will remain until the term expires.

Process for 2017 Committee Recommendation Process

The deadline for submitting committee recommendations is May 23, 2016.  All recommendations must be submitted via the online form.

Using the form, you can recommend yourself or another suitable candidate.   When submitting a recommendation you are required to include relevant comments that highlight the candidate’s skills and qualifications for the position.  All comments are confidential.

We encourage you to seek recommendations from colleagues with whom you have worked closely, in particular members of state and national leadership.

Follow these steps to access the Committee Recommendation Home Page:

1. Log-on to REALTOR.org
2. Click the “About NAR” tab at the top of the page
3. Click “Governance” in the right hand side of the page
4. Click “Committees” in the right hand side of the page
5. Click “Committee Selection Process” in the right hand side of the page
6. Click “Enter and view your committee recommendations” in the center of the page

The link below may also be used to access the recommendation form directly on REALTOR.org. http://gms.realtor.org/comrecords.nsf/comselMbrhome?readform

Things to Consider when Submitting Recommendations

Please review the committee structure, which lists each committee’s purpose statement, composition (how many members), length of term, and specific qualifications for consideration to see what committee you would best serve.  Please note that if appointed to a committee you will be expected to attend all of its meetings and serve the full length of the term.  Furthermore, please note that forums are open to all members; so recommendations need not be submitted for forums unless you are seeking the position of chair or vice chair.

The committee structure* can be found by clicking “View Committee Information” on the committee recommendation homepage (link provided above).

*Note: The content is from the current (2016) committee structure.  The 2017 committee structure will be approved at the REALTORS® Legislative Meetings & Trade Expo in May, 2016.

Expertise Profiles

NAR’s Expertise Profile Database was designed to provide all levels of the REALTOR® family (including the Local, State and National Associations) with key information about you and your professional experience. The information that you will provide in this profile will be used as a resource in a variety of ways, including identification of members with certain expertise to serve on committees, working groups, presidential advisory groups; also, to respond to surveys about association issues, products, services etc.  

Individuals interested in serving on NAR’s committees are encouraged to create and/or update their expertise profiles.  However, they are not required. Please note:  Completing an expertise profile is NOT the same as submitting a recommendation for yourself!  If you wish to serve on a committee you still must submit a recommendation via the online Committee Recommendation Form on REALTOR.org.

To access the Expertise Profile page*:
Click “Enter Your Expertise Profile” on the committee recommendations homepage (http://gms.realtor.org/comrecords.nsf/comselMbrhome?readform)

Turn to REALTOR.org for the Latest Information

Use of electronic mail and the NAR Governance page on REALTOR.org serves as the vehicle for promoting and publicizing information related to the Committee Recommendation/Selection process.  Therefore it is imperative that you adjust your email spam filter settings so that you receive important emails from NAR.

NAR Governance Home Page*:

http://www.realtor.org/user/login?destination=/governance

Committees Home Page*:

http://www.realtor.org/governance/committees

*Members need to have a REALTOR.org login and password to access these pages.  Contact Information Central at (800) 874-6500; InfoCentral@realtors.org for login and password assistance.

Contact Information

Alaska Association of REALTORS®
4205 Minnesota Drive
Anchorage, Alaska 99503

Phone (907) 563-7133
FAX (907) 561-1779
Toll-Free (800) 478-3763

joinus@alaskarealtors.com