Get takeaways from NAR's first-ever Real Estate Forecast Summit and annual conference; learn about key federal budget wins for real estate; and meet one REALTOR® who's making a big difference in his Florida community.
The Voice for Real Estate: January 6, 2020 - Transcript
NAR rings in the brand-new year with its real estate forecast - for 2020 and beyond
How you can build your business this year with lessons from the annual conference.
And NAR plans its work to keep real estate a top priority in the new year - and the new decade.
These stories and more – on The Voice for Real Estate.
Hi, I'm Stephen Gasque, with the National Association of REALTORS®...and Happy New Year!
A year that kicked off with a look ahead. In December, NAR pioneered an exciting new event: The Real Estate Forecast Summit, where Chief Economist Lawrence Yun brought together real estate professionals and world-class economists, for a 2020 overview of real estate and the economy.
NAR CEO, Bob Goldberg, explains why NAR launched the Forecast Summit
[QUOTE FROM NAR CEO BOB GOLDBERG]
I think it’s something that brings a new dimension so that we can help educate our members to better serve consumers. Those top economists wouldn’t come to something like this unless they believed in what NAR is doing, what the REALTORS® do on behalf of consumers.
Highlights of the event included a visit from Dr. Ben Carson, Secretary of Housing and Urban Development, and the release of a highly anticipated report by Lawrence Yun, “Consensus Forecast and Overview of the Top Ten Metro Markets.”
[QUOTE FROM NAR CHIEF ECONOMIST LAWRENCE YUN]
Mortgage rates, fortunately will remain, according to the consensus, very favorable in 2020, but we need to have that increased supply of housing price, low-price, all the better.
You can download your copy by searching for "Consensus Forecast."
And watch for much more on the forecast for residential AND commercial real estate in the next issue of REALTOR® Magazine.
The 2019 REALTORS® Conference & Expo in San Francisco was one of the biggest highlights of 2019.
The largest annual real estate event was the place to be for real estate professionals, who found incredible presentations, educational sessions, business-building strategies and more. NAR members found information - and inspiration! And heard from tennis legend and equality advocate, Billie Jean King.
By the second time I picked up a racket, I knew I wanted to be number one in the world. And then when I was 13 and now I’m really into it I noticed that everybody wore white shoes, white socks, white clothes, and played with white balls - everybody that played was white. And I said to myself, where is everybody else?
If you missed the event, it’s not too late to catch the highlights and get key educational takeaways. You can find it all at https://conferencelive.realtor/
Right now NAR is planning its legislative strategies for 2020, as it continues to work on behalf of private property owners in America.
And as you may know, REALTORS® scored huge wins in the closing weeks of 2019, with a federal spending package that includes a number of important provisions for real estate.
This includes the Terrorism Risk Insurance Program–which brings stability to the commercial real estate industry while playing a critical role in national security.
the National Flood Insurance Program, extended through September, which provides critical protections to Americans and their property.
and, three key tax extensions including
the exclusion of forgiven mortgage debt from gross income
the deductibility of premiums for mortgage insurance
and the deduction for energy efficiency improvements to commercial buildings
[QUOTE FROM NAR SENIOR LEGISLATIVE REPRESENTATION HELEN DEVLIN]
These issues all impact our REALTORS® in a variety of ways.
Flood insurance clearly is something that is required in many parts of the country. So if there’s a problem with the flood insurance program or there are reforms needed, that is directly related to what homeowners are going to need in order to be able to buy homes and sell homes.
And finally today, a story about a REALTOR® who’s making a big impact on his community.
Andrew Levy learned that many families in the local school district were unable to pay for their children’s lunches. The problem was so severe, it was driving the school district into debt.
So Andrew decided to help. Realizing that he could solve the problem by writing a single check, he paid the debt in full.
But that was just the beginning. In addition to his generous contribution, Andrew created a GoFundMe campaign and sought other fundraising opportunities as well. And so far? He has raised over $4,000 to buy lunches for Jupiter students who are unable to pay.
Andrew’s story is a perfect example of the REALTOR® difference - highlighted in NAR’s consumer advertising campaign - the special commitment NAR members have to their communities and to the NAR Code of Ethics.
And that’s our show for the week of January 6, 2020.
You can find more about everything we talked about today at nar.realtor.
Again, Happy New Year! And thank you for joining us.
We hope to see you again soon, as we bring you the latest news on The Voice for Real Estate.