NAR 2016 Legislative Issues Brief: Prepare for the NAR Legislative Meetings in D.C | The Wednesday Word

US-capitolAs we approach the end of the first quarter and the state and federal legislative cycles are in full swing, now is the time to review the NAR Legislative Issues Brief and prepare for the NAR Legislative Meetings and Trade Expo to take place from May 9th-May 12th in D.C.

Annually, NAR releases Legislative Priorities that provide the basis for the Legislative Talking Points at the mid-year meetings in May. The Issues Brief outlines the Federal issues, NAR’s position, and how they affect REALTORS®, home buyers, and private property owners.

The key issues in 2016 include:

HOMEOWNERSHIP & REAL ESTATE INVESTMENT TAX POLICIES

The growing federal debt, weak economic recovery, and continued growth of tax complexity have kept tax reform near the top of the national agenda. Members of Congress from both Houses and both parties have expressed a high level of interest in reforming the tax system, and President Obama has also expressed qualified support, especially for corporate or business tax reform. This ongoing debate places a variety of tax laws, including those affecting commercial and residential real estate, under increased scrutiny.

  • State and Local Tax Deductions
  • Mortgage Interest Deduction
  • Mortgage Debt Cancellation Tax Relief
  • Capital Gains

CREDIT, LENDING AND INSURANCE POLICIES

Overly stringent lending standards have continued to limit the availability of affordable mortgage financing for credit worthy consumers. Federal policymakers are weighing a number of proposals aimed at creating healthier housing and mortgage markets. Additionally Congress must reauthorize the National Flood Insurance Program to avoid the potential loss of 40,000 home sales each month according to NAR research.

  • Credit Availability
  • GSE (Fannie Mae/Freddie Mac) Restructuring, Liquidity and Lending
  • FHA Lifetime Mortgage Insurance Premiums
  • FHA Condominium Requirements & Financing
  • National Flood Insurance Reauthorization

BUSINESS OPERATIONS

Protecting the business operations of members is always a priority for NAR. There are a number of issues before Congress and the Federal Regulatory Agencies that could have a significant impact on the business operations of real estate firms.

  • Dodd-Frank Act Regulations (TRID Implementation)
  • Technology Issues (Patent Reform, Net Neutrality, Data Privacy & Security)
  • Appraiser Independence Regulations

COMMERCIAL

More than $1.2 trillion in commercial real estate loans will come due over the next few years, and many of these deals will have trouble getting financing. NAR supports consideration of legislation and regulations to protect and enhance the flow of capital to commercial real estate.

  • 1031 Like-Kind Exchanges
  • Basel III
  • Lease Accounting
  • Waters of the United States

To track the issues, follow the Federal Issues Tracker . Be sure to stay updated on the Mid Year talking points by visiting: http://www.realtor.org/midyear.nsf/ Stay tuned for more Mid Yea updates by visiting The MAR Report every Wednesday.

(Please note: This blog post was prepared by MAR Legal Staff: Michael McDonagh, General Counsel; Ashley Stolba, Associate Counsel; Justin Davidson, Legislative & Regulatory Counsel; and Christine Howe, Public Policy and Finance Coordinator)

What’s Being Said in the Media: February 2016 Closed Sales Report

what's being said in the media 2016

These articles and posts resulted in the release of our February 2016 Closed Sales Release. We’ll continue to update this post as more articles come in.

Tuesday, March 22, 2016

Home sales jump but prices dip in Massachusetts
Boston Herald

Another record month as February home sales close up again
Cape & Plymouth Business

Home sales jump but prices dip in Massachusetts
Berkshire Eagle

Mass. home sales strong; prices dip
Worcester Business Journal