NAR News for 1/16/2008

Published: January 16, 2008

NAR NEWS

NAR Campaign Relates Real Facts about Real Estate
NAR is reaching out with the facts about the value of real estate as a long-term investment in an advertising campaign that will provide housing data to help consumers make informed decisions about buying a home. Over the past 30 years, the median price of existing homes has increased more than 6 percent every year on average, and home values have nearly doubled every tenth year, NAR data show. A Federal Reserve study has found that the average homeowner’s net worth is 46 times the net worth of the average renter. Despite these and other findings, home buyers are being kept on the sidelines as they react to national media reports about the housing market. The campaign includes a Web site, which provides information about the benefits and value of owning a home, identifies public policy issues of importance to consumers in the real estate transaction, and enables visitors to link directly to to find a REALTOR®. The ads are part of NAR’s Public Awareness Campaign.
Economic Census Forms Due Feb. 12
The federal government has been surveying businesses to get a detailed look at the state of U.S. commerce. You and your members might have received in the mail the 2007 Economic Census Form. The forms were mailed in mid-December. The Census Bureau uses the data to report on the state of industries. The reports are available to the public for use in business planning. Let your members know they can go to the Census Bureau online to learn more about the survey. Forms are due Feb. 12.

LEGAL

Escrow Dispute Insufficient to Warrant Rescission
A buyer who placed in escrow a small portion of the purchase price to fund a repair did not breach the purchase contract, and thus the sellers could not void the contract, the South Carolina Court of Appeals ruled, affirming the trial court.

ISSUE UPDATES

Debt Cancellation Tax Relief Resource Page Available
AEs: Are you handling questions on the recently passed Mortgage Debt Cancellation Relief Act? Information on how the IRS will apply the law and how it will affect those eligible to receive the benefits is compiled on an NAR resource Web page.
2007 NAR Policy Accomplishments Available
Mortgage debt cancellation tax relief is among the major federal policy victories of REALTORS® in 2007. Access a listing of NAR’s federal legislative and regulatory policy victories online.

NEW RESOURCES

New from NAR Information Central
Compensation plans for real estate associates
Foreclosures
Hotel and motel properties
Sale-leasebacks and synthetic leases
Buying vs. renting
Employer-assisted housing
Military base closings
This month in real estate history

New from REALTOR® Magazine Online
Easy ways to track your Web site visitors.

NAR Research Produces ‘Selling Green’ Pocket Card
Ninety-two percent of home buyers consider energy efficiency at least somewhat important and 46 percent rank energy efficiency as very important. Increasingly, consumers’ preferences for products and services reflect awareness in energy efficiency, even extending to those looking to purchase a home. A newly released pocket card called Selling Green from NAR looks at the energy-efficiency preferences of home buyers. The pocket card is available for sale in packs of 50.

Last modified: January 16, 2008 at 1:07 pm | Originally published: January 16, 2008 at 1:07 pm
Printed: September 27, 2020