The NAR has a 4 point bill to add to the latest housing relief bill. Their official stance in the matter is that while the relief bills area a great effort by the government, they have consistently fallen short of accomplishing their goal.
The NAR believes more needs to be done to address the stabilization of the real estate market and calls for more over sight in the bail-out funds being dispersed to banks and other lending institutions to insure that the money is used for its intended purpose, and really who could blame them for being concerned? It’s not as if those institutions did such a fine job managing their funds the first time.
It also calls for a revocation of mandatory repayment of the $7,500 tax credit (either way it goes this offer is only valid until July of 2009, so if you’re on the fence about buying you’d better shake a leg if you intend to utilize this option).
The N.A.R.’s 4 point plan is also trying to encourage the government to make the recent changes to FHA, Fannie Mae & Freddie MAC permanent, making first time home ownership a little easier than it was a few months ago when, in response to the credit crisis, lending institutions tightened their lending restrictions & requirements so much that it was difficult for anyone to buy a home!
The last point of the bill, of course, takes a stab at banks and other lending institutions who have been trying to break into the real estate industry, by stating that they don’t need to be practicing real estate since they obviously couldn’t handle their own business. (this matter is a bone the NAR has been chewing on for a while, so perhaps they finally get to win this argument once and for all).
In review, it is my opinion that the National Association of Realtors has really taken the long view of this new stimulus bill and is trying to affect long term and productive change that can both assist the public and stabilize the housing market at the same time. I think they would be excellent additions to the next stimulus package!
For more information about the stimulus package visit: www.Realtor.org
Contact Anne-Marie McKenzie & Associates Today!
207-829-3339 x 111
ammckenzie@maine.rr.com
www.mainerealestateresource.com
