The Voice for Real Estate: July 8, 2019
REALTORS® mentor REALTORS® in community service, major investors to RPAC get a special edition of REALTOR® Magazine, and a change to the VA home loan program: Hear these stories and more in our show for the week of July 8. This week’s video is sponsored by the REALTOR Benefits® Program.
The Voice for Real Estate: July, 8, 2019: Transcript
REALTORS® give back to people in need all across America. We’ll have the latest.
VA loans are in the news, as the program celebrates a big milestone, and will the VA loan soon have higher loan limits?
And the nation celebrates Home Ownership! We’ll hear what it means to you, your clients and your community.
All this and more – on The Voice for Real Estate.
‘The Voice for Real Estate’ is sponsored by NAR’s REALTOR® Benefits Program. Your official member benefits program. Bringing you savings and unique offers on products and services, just for Realtors. Learn more at nar.realtor/realtorbenefits
Hi, I'm Stephen Gasque, with the National Association of REALTORS®.
REALTOR® Candice Payne made national headlines when she paid for hotel rooms for more than 100 people in Chicago - during the 2018 polar vortex when temperatures hit 50 below zero. Now, she has been honored as a grant recipient in NAR’s Volunteering Works Program.
The program fosters good deeds. Candice and four other REALTORS® will receive seed money and a full year of mentoring to help them grow and develop their charitable activities.
The mentors, by the way, know all about how to multiply good deeds - because they’re all past winners of NAR’s Good Neighbor Awards, REALTORS® recognized for extraordinary community service.
Seed money is provided by NAR’s Good Neighbor Sponsor, Wells Fargo Home Loans. You can learn more about the program at nar.realtor/gna
Will you be on the cover of REALTOR® Magazine? Could be! Because major investors in RPAC - the REALTORS® Political Action Committee - will receive a special issue of REALTOR® Magazine in July – and their name will be somewhere on the cover.
The cover art shows the NAR’s Washington, D.C., office building, which sits two blocks from the U.S. Capitol. But if you look closely, you’ll see the picture is made up of the names of nearly 10,000 REALTORS® who invested at least $1,000 in RPAC in 2018.
Those investments help make sure REALTORS® continue to have a voice on critical business and housing issues.
When RPAC started we had approximately 300 members contribute about 28,000 dollars. Today that’s grown into four hundred thousand members giving 9 million at the federal level and 36 million dollars at all levels of the associations. So, we’re very proud that our members have stepped forward and have invested in their industry, and it’s been phenomenally successful.
If you’re a major investor, you can find your name on the image by doing a name search at the REALTOR® Party website. The original drawing, which was created by Minneapolis artist Phil Hansen, stands 10 feet tall.
May was a good month for existing home sales across America! The latest Existing-Home Sales report from NAR shows that sales jumped two and a half percent in May compared to April.
The economy by many measures is very strong, yet home sales has been trending essentially sideway. At the second half of last year we saw some declines, the first part of this year was so so, but in the past few months we are seeing some rebound in home sales thanks to lower mortgage rates.
In other news, the VA Home Loan program celebrates a big milestone, and could enjoy big improvements, as it helps the nation’s veterans and active duty service members get into homes of their own.
First - the improvements. Under new legislation called the ‘Blue Water Navy Vietnam Veterans Act,’ Congress has eliminated the loan limit on VA-guaranteed loans. That means a veteran who qualifies for a mortgage, regardless of the amount, may take advantage of the VA benefit.
In FY 2018 the VA gave out 600,000 VA home loans. So that’s very important to veterans across the country, and we’re hopeful that this new provision will allow even more veterans to take advantage of that benefit.
The VA benefit was also the subject of a celebration this month.
NAR President John Smaby was in Washington, along with U.S. Department of Housing & Urban Development Secretary Ben Carson and others, to celebrate the 75th anniversary of the program, and the 24 millionth loan --- to Army Sgt. 1st Class William Kopf.
That event was one of the highlights of National Homeownership Month. Throughout the month of June, REALTORS® celebrated Homeownership Month, with special events, promotions, and homeownership success stories.
What home ownership means to America is safety, security, financial well-being. It’s the ability to achieve the American dream. It strengthens communities because it’s proven that children that grow up in homes that are owned by their families are healthier children, they do better in school, it builds financial wealth because it gives homeowners the ability to grow their net worth. And then finally it’s a boon for the economy because Real Estate and the housing industry represents 20% of gross domestic product.
For more information, check out homeownershipmatters.realtor/homeownershipmonth.
And that's our show for the week of July 8. You can find more about everything we talked about today at nar.realtor. Thank you for joining us, and we hope to see you again soon, as we bring you the latest news on The Voice for Real Estate.
Brought to you by the National Association of REALTORS® - your advocate for housing and property rights in Washington, across America, and in your neighborhood.
This is the voice for Real Estate.