A new bill to improve the process for approving short sales may soon bring relief to distressed home owners who are unable to keep their homes and hope to avoid foreclosure. The bill, introduced in the U.S. House yesterday and strongly supported by the National Association of Realtors®, would impose a deadline of 45 days on lenders to respond to short sale requests.
Americans favor walkable, mixed-use neighborhoods, with 56 percent of respondents preferring smart growth neighborhoods over neighborhoods that require more driving between home, work and recreation.
As the leading advocate for home ownership, NAR strongly supports the Fair Housing Act and believes that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream. This April marks the 43rd anniversary of the 1968 landmark Fair Housing Act, which prohibits discrimination based on race, color, national origin, religion, sex, familial status or disability.
The National Association of REALTORS® today urged Congress to move cautiously when reforming government-sponsored enterprises Fannie Mae and Freddie Mac. Reforming America’s housing finance market can only be achieved through a forward-looking, comprehensive approach that supports the housing and economic recoveries.
NAR’s 2011 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2010, shows vacation-home sales accounted for 10 percent of transactions last year while the portion of investment sales was 17 percent, both unchanged from 2009.