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NAR's 2012 President Committed to Facing Challenges Ahead

Media Contact: Stephanie Singer / 202-383-1050 / Email

ANAHEIM (November 11, 2011) - The National Association of Realtors® will not waiver in its commitment to ensure access to homeownership, affordable housing, and commercial investment, according to Moe Veissi, 2012 NAR president. Veissi shared his perspective and insights into some of the key issues facing the real estate industry in the coming year during the 2011 Realtors® Conference & Expo today.

“It’s a difficult time in many ways for real estate; some would go as far to say that homeownership itself is under attack,” said Veissi, broker-owner of Veissi & Associates Inc., in Miami. “With that said, challenging times often present opportunities, and I believe NAR and our Realtor® members are ready and able to meet and overcome the obstacles ahead.”

As Realtors® gather in Anaheim, Congress is debating whether to reinstate higher conforming loan limits, and NAR has been urging them to do so.

“We’re working on behalf of home buyers and sellers across the country who have been affected by the reduced loan limits,” said Veissi. “Some have tried to portray higher loan limits as benefiting the wealthy, but the fact is that most affected markets are not high-cost areas. More than 100 counties throughout the Midwest and more than 200 counties in the South have seen loan limits decline by more than $64,000.”

As the November 23 deadline for Congress’s Joint Select Committee on Deficit Reduction, or “Super Committee,” approaches, Realtors® also stand ready to defend and support the mortgage interest deduction as an important tax benefit of and incentive for homeownership.

“This is another issue that affects hard-working, middle-class Americans,” said Veissi. “Sixty-five percent of families who claim the MID earn less than $100,000 per year.”

Veissi is confident that Realtors® will engage and meet the challenges facing the real estate industry during his year as NAR president.

“I believe Realtors® are at the heart of the deal – so much so that I’ve made it my theme for the year,” said Veissi. “Home buyers, sellers and real estate investors rely on Realtors® as a primary source for real estate information and guidance, and in today’s climate, Realtors® can also be relied upon to fight for and defend consumers’ rights and opportunities to buy, sell and own real estate.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

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Information about NAR is available at www.realtor.org. News releases are posted in the Web site’s “News Media” section in the NAR Media Center.