Resource Center

HUD Chooses Atlanta as second site of Location Affordability Portal Rollout
Local

The new HUD portal provides great tools and we encourage each of you to use it when available. You can provide this new information to your clients who are trying to make tough neighborhood and home buying decisions. The REALTORS® will be co-hosting a roll-out event for the Location Affordability Portal with HUD on July 17th. This event will provide further information on these tools and will feature expert panels regarding all the ways in which this data can impact our industry and your business.

Georgia Association of REALTORS® Reviews the 2014 Legislative Session
State Issues Update

A quick Georgia legislative session ended at midnight on Thursday, March 20th. Keith Hatcher and John Barbour played great defense to protect our membership and the foundations of our industry.

2014 REALTOR® Party Convention and Trade Expo Summary
Federal Issues Update

Board members headed to D.C. last week and took an active role in advancing the real estate industry, public policy and the REALTORS® Association. Members and staff attended special issues forums, committee meetings, the industry trade show and presented federal issues of concern to the Georgia Congressional delegation. These meetings included lunch with Senators Chambliss and Isakson and discussions with staff in the offices of Congressmen Gingrey, Price, Lewis and Scott.

Notice to Real Estate Licensees of Rule Changes
From the Georgia Real Estate Commission (GREC)

The Georgia Real Estate Commission adopted a revised "Maintaining a License" Rule which will increase the continuing education requirements for maintaining a license. This Rule will become effective August 1, 2014.

You may view these Rules by clicking here:
https://www.grec.state.ga.us/about/reproposed.html

Homeowner Flood Insurance Affordability Act
National

On March 21, 2014, President Obama signed the "Homeowner Flood Insurance Affordability Act" into law. This law repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. 

FHA Dual Agency Remains Permissible
National

Communications from lenders such as Bank of America saying dual agency isn't allowed for FHA short sales are incorrect. HUD has delayed its plan to prohibit dual agency on FHA short sales and is working with NAR to develop a policy that addresses NAR's concerns over the impact such a prohibition would have on communities. Currently, dual agency is allowed in short sale transactions with FHA. For more information, contact Sarah Young, 202.383.1233.

The Economic Impact of an Existing Home Purchase
The National Association of REALTORS® estimates that each home sale at the median generates $68,106 of economic impact (2013).
The Jobs Impact of an Existing Home Purchase
The National Association of REALTORS® estimates that one job is generated or supported for every two home sales. Using that ratio, 1,000 home sales generate 500 jobs.
Congratulations to the 2013 Circle of Honor and Award Recipients!

On Wednesday, March 5th, we gathered together to recognize our 2013 Circle of Honor recipients. Held at the Calhoun Convention Center, we were greeted with great weather and dined on fine food, making the event a great success. Thank you to the hard work of our Awards Committee and to the outstanding sponsors. Please support our sponsors like they support us. We congratulate all of our Circle of Honor recipients!

NAR Opposes Tax Reform Draft
National

Earlier this week, House of Representatives Ways and Means Committee Chairman Dave Camp (R-MI) released his long-awaited plan to reform the federal tax system.

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