REALTOR® Neighborhood Stabilization Project
NAR has partnered with the National Community Stabilization Trust (Stabilization Trust) to develop the REALTOR® Neighborhood Stabilization Project, which will help communities effectively implement the Neighborhood Stabilization Program (NSP). Through the NSP, the federal government has provided $6 billion to assist communities hardest hit by foreclosures to acquire and rehabilitate foreclosed and abandoned properties.
REALTORS®—who are best equipped to market properties and promote neighborhoods—provide invaluable information that can enhance local deliberations on strategies for identifying and reclaiming neighborhoods devastated by high concentrations of foreclosed and abandoned property. Through this project, the Stabilization Trust and NAR will enable REALTORS® and their state and local Associations to play active roles in foreclosure recovery efforts in their communities.
The NAR/Stabilization Trust partnership has established the following goals:
- In cooperation with targeted state Associations, Stabilization Trust and NAR staff and consultants will devise strategies for providing high-impact training and tools necessary for success in mitigating the negative effects of foreclosures on local communities.
- The Stabilization Trust will use its housing industry relationships in cities severely impacted by foreclosures to establish connections for REALTORS® in local government, allowing them to influence program strategies.
- NAR and Stabilization Trust staff and consultants will provide hands-on assistance in initiating and maintaining a REALTOR® presence in local planning and implementation of neighborhood stabilization efforts.
Latest News: Latest News: Realtors® Partner with National Community Stabilization Trust to Revitalize Neighborhoods Wracked by Foreclosures: NAR Announcement, NCST Announcement, President's Podcast.
Resources:
Guide for Selected Associations: Getting Started with the National Community Stabilization Trust (PDF: 1.2MB)
For more information on this project, please contact Bill Gilmartin at wgilmartin@realtors.org.
