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| May 19th, 2010 |
GLVAR leaders meet members of Congress on Capitol Hill, urge them to continue helping Nevada homeowners
For Immediate Release:
LAS VEGAS – Leaders of the Greater Las Vegas Association of REALTORS® met with U.S. Senate Majority Leader Harry Reid and other members of Nevada’s congressional delegation this week in Washington, D.C., sharing their views on key real estate issues and urging members of Congress to continue helping homeowners.
They were in nation’s capital as part of the National Association of REALTORS® Mid-year Legislative Meetings & Trade Expo, held May 10-15. During the meetings, hundreds of REALTORS® from across the country gathered with public policy officials, industry representatives and academic leaders to generate solutions for the challenges facing today’s real estate market and the overall economy.
“These meetings are important, not only to address the challenges facing our real estate market in Nevada, but also to make lawmakers and other national leaders aware of the challenges people are facing when it comes to homeownership,” said GLVAR President Rick Shelton.
Meetings between GLVAR leaders and Nevada’s congressional delegation focused on issues vital to the real estate market in Southern Nevada, including ensuring that homeowners have access to affordable property insurance, reforming the secondary mortgage market so that financing remains available and affordable for people who want to buy a home, ensuring that the Federal Housing Administration continues to help first-time buyers become homeowners, making the higher loan limits established for FHA loans and mortgages purchased on the secondary mortgage market permanent, and enhancing liquidity in the commercial real estate market.
“Many first-time homebuyers rely on FHA loans to buy a home,” Shelton said. “Because of its vital role in helping families achieve the dream of homeownership, we believe FHA should be strengthened and supported.”
Shelton added that REALTORS® also believe the federal government should continue to play a key role in the secondary mortgage market and should make permanent the current Fannie Mae, Freddie Mac and FHA loan limits.
As for commercial real estate issues, Shelton said the real estate industry leaders from Nevada reminded members of Congress “that commercial real estate is the basis for much of the growth in the American economy, and right now many property owners are underwater.”
As a result, he said leaders from GLVAR and its Commercial Alliance Las Vegas urged lawmakers to increase the cap on credit union business lending to help commercial real estate owners refinance their properties.
National Association of REALTORS® President Vicki Cox Golder praised staff and board members from GLVAR and other associations around the country for their efforts.
“NAR is a leading advocate for housing issues, and our members are working hard here in D.C. and in their communities to make sure the issues that matter most for homebuyers, sellers and real estate investors in their local areas are heard,” said Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.
They were in nation’s capital as part of the National Association of REALTORS® Mid-year Legislative Meetings & Trade Expo, held May 10-15. During the meetings, hundreds of REALTORS® from across the country gathered with public policy officials, industry representatives and academic leaders to generate solutions for the challenges facing today’s real estate market and the overall economy.
“These meetings are important, not only to address the challenges facing our real estate market in Nevada, but also to make lawmakers and other national leaders aware of the challenges people are facing when it comes to homeownership,” said GLVAR President Rick Shelton.
Meetings between GLVAR leaders and Nevada’s congressional delegation focused on issues vital to the real estate market in Southern Nevada, including ensuring that homeowners have access to affordable property insurance, reforming the secondary mortgage market so that financing remains available and affordable for people who want to buy a home, ensuring that the Federal Housing Administration continues to help first-time buyers become homeowners, making the higher loan limits established for FHA loans and mortgages purchased on the secondary mortgage market permanent, and enhancing liquidity in the commercial real estate market.
“Many first-time homebuyers rely on FHA loans to buy a home,” Shelton said. “Because of its vital role in helping families achieve the dream of homeownership, we believe FHA should be strengthened and supported.”
Shelton added that REALTORS® also believe the federal government should continue to play a key role in the secondary mortgage market and should make permanent the current Fannie Mae, Freddie Mac and FHA loan limits.
As for commercial real estate issues, Shelton said the real estate industry leaders from Nevada reminded members of Congress “that commercial real estate is the basis for much of the growth in the American economy, and right now many property owners are underwater.”
As a result, he said leaders from GLVAR and its Commercial Alliance Las Vegas urged lawmakers to increase the cap on credit union business lending to help commercial real estate owners refinance their properties.
National Association of REALTORS® President Vicki Cox Golder praised staff and board members from GLVAR and other associations around the country for their efforts.
“NAR is a leading advocate for housing issues, and our members are working hard here in D.C. and in their communities to make sure the issues that matter most for homebuyers, sellers and real estate investors in their local areas are heard,” said Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.
About the Company:
GLVAR was founded in 1947 and provides its nearly 12,500 local members with education, training and political representation. The local representative of the National Association of REALTORS® GLVAR is the largest professional organization in Southern Nevada. Each GLVAR member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.lasvegasrealtor.com.
Greater Las Vegas Association of Realtors
(702) 784-5000
(702) 784-5000