The Real Estate Services (RES) Update is designed to keep diversified real estate firms and their agents informed about issues affecting their businesses. This monthly newsletter includes legislative and regulatory updates, news on industry trends, and the latest information on NAR activities as they affect diversified real estate firms.

Recent

HUD announced that would suspend subsidies for federally assisted housing units that did not have utilities in Puerto Rico and the Virgin Islands. The reason is because HUD requires all units to be decent, safe, and sanitary and a unit without utilities does not meet that standard.
Federal agencies announced they have eased Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) appraisal requirements for areas of Florida, Georgia, Puerto Rico, Texas, and the U.S. Virgin Islands that have been declared major disaster areas by President Trump due to Hurricanes Harvey, Irma, and Maria.
The Department of Interior, Bureau of Land Management announced the cancellation of a proposed withdrawal of 10 million acres of public land throughout the Intermountain West. These lands were proposed to be withdrawn as sage grouse habitat, but this massive withdrawal of public lands would have also significantly impacted the economies of communities who relied on this land.

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