2005 Midyear Meeting News and Events
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MAY 14
Board of Directors Report: NAR Board Blends IDX, VOW Policies; Rejects Standards Initiative
Closing the 2005 REALTORS® Midyear Legislative Meetings & Expo — which which ran May 10-14 — the Board of Directors Meeting focused on NAR's initiative to blend IDX and VOW to resolve a dispute with the U.S. Department of Justice, rejection of the Real Estate Standards Institute (RESI) standards of practice and NAR's fiscal health.
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NAR Takes Initiative to Resolve VOW Policy Dispute
To resolve a 20-month dispute with the U.S. Department of Justice, NAR authorized its leadership to develop a single, uniform policy governing the display of Multiple Listing Service (MLS) data on Internet sites.
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Read full VOW coverage from Midyear Meetings >
NAR Building Given High Environmental Award by Green Building Council
NAR's striking, glass-wrapped Washington, D.C., headquarters building has been awarded a Silver certification for achieving a high level of environmental performance as part of the Leadership in Energy and Environmental Design (LEED) Green Building Rating System.
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NAR Launches New Effort to Combat "Toxic" Loans
NAR is launching a new consumer education campaign through its membership to help consumers avoid the pitfalls of predatory lending practices that often afflict potential homebuyers with credit problems in today’s hot real estate market.
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Marketing, Not Just Listing is Internet's Role
The Internet not only gives practitioners a tool for securing more listings, but a resource for combating fee pressure, Allan Dalton, president and chief executive officer of REALTOR.com, told attendees at the Midyear Meetings. (Courtesy of REALTOR® Magazine Online.)
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U.S. is Hot Property for Foreign Investment
Direct foreign investment in U.S. real estate is booming, and Americans also are investing abroad in increasing numbers, NAR Chief Economist David Lereah told attendees of the International Forum. (Courtesy of REALTOR® Magazine Online.)
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MAY 13
Bush: MID Safe, Seeks Health Plan Passage
President Bush delivered a speech at the 2005 Midyear Meetings in which he assured REALTORS® of mortgage interest deduction's non-negotiability in tax reform and reiterated SBHP support. (Courtesy of REALTOR® Magazine Online.)
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REALTORS® Seek Homeownership Increase through Counseling Partnerships
NAR is among the founding sponsors of NeighborWorks Center for Homeownership Education and Counseling program. Counselors trained by NeighborWorks may provide services to more than 1 million households annually by 2007.
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REALTOR® Secure Program Evolving as Industry Information Security Standard
"NAR leads the real estate industry in protecting member and transaction information," said Todd Costigan, senior manager of NAR's Center for REALTOR® Technology.
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The Next Three Hot Real Estate Sectors
Although some sectors might decelerate, three areas have potential to see home-price acceleration in double-digits over the next two years, according to Lawrence Yun, NAR senior economist. (Courtesy of REALTOR® Magazine Online.)
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Commercial Rents, Vacancies Improve in '05
Economic expansion might be losing momentum, but a projected 3.3 percent growth in gross domestic product will fuel improvements in commercial property vacancies and rents, says NAR Chief Economist David Lereah. (Courtesy of REALTOR® Magazine Online.)
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TIC Boom Creates Commercial Opportunities
Tenant-in-common interest transactions reached $4 billion in sales in 2004, reflecting a 330 percent growth over TIC sales in 2003. (Courtesy of REALTOR® Magazine Online.)
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Top Trends: Transaction Management, Online Leads
"Trends don't just happen. They're patterns changing over time that help you see the direction of your business," according to RealSure Inc.'s Stefan Swanepoel. (Courtesy of REALTOR® Magazine Online.)
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Attendees Treated to Technology Updates, Advice
NAR's Center for REALTOR® Technology expects to soon release an alpha version of ezRETS, which will let users easily flow MLS data into applications such as Excel and Word. (Courtesy of REALTOR® Magazine Online.)
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MAY 12
NAR, DOJ to Negotiate Enhanced IDX Policy
NAR is considering blending key provisions of its existing Internet listing display policies into a single set of rules as part of its ongoing negotiations with the U.S. Department of Justice in its antitrust review.
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Record Number of Attendees, Exhibitors at Midyear Meetings
REALTORS® and their guests, totaling more than 9,000 people, broke the attendance record at the 2005 Midyear Legislative Meetings & Trade Expo. The number of exhibitors at the Trade Expo, at 210, also hit a record, and includes 80 companies making their first appearance at the annual legislative conference. (Courtesy of REALTOR® Magazine Online.)
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Housing Market Sound Despite Rise in Speculation
Most residential real estate purchases are rational, with high prices driven by positive demographics and lean supply, according to NAR Chief Economist David Lereah. (Courtesy of REALTOR® Magazine Online.)
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Real Estate Deductions Could be at Risk
Although President Bush has said tax reform will not alter tax deductions for homeownership and charitable contributions, real-estate friendly provisions could be eliminated, according to Linda Goold, NAR's director of taxation. (Courtesy of REALTOR® Magazine Online.)
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Caution Urged as HUD Ups RESPA Enforcement
With enforcement of non-compliant referral activity under the Real Estate Settlement Procedures Act increasing, REALTORS® were cautioned to take extra care in structuring relationships with settlement service providers. (Courtesy of REALTOR® Magazine Online.)
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Commercial Real Estate Forecast: Fundamentals Positive for Next Two Years
According to a forecast from David Lereah, NAR’s chief economist, the four major sectors of the commercial real estate market – office, retail, industrial and multifamily – can expect improvement over the next two years.
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Federal Government Calls for Action Against Predatory Lending
More than 30 states have passed predatory lending laws and several federal bills have also been proposed, but it will take partnerships and organizations with local reach to combat the issue. (Courtesy of REALTOR® Magazine Online.)
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Data Breaches Raise REALTOR® Security Questions
NAR's Business Issues Committee is looking into how REALTORS® would be impacted by laws that require businesses to notify consumers when their personal information has been compromised. (Courtesy of REALTOR® Magazine Online.)
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HOPE Awards Celebrate Minority Homeownership
U.S. Rep. Michael Honda (D-Calif.) gave the keynote address at the 2005 HOPE Awards Minority Housing Symposium, a luncheon to honor individuals and organizations who greatly further minority homeownership.
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Minority Homeownership on the Upswing
Minority homeownership is expected to increase by more than five million households by the end of the decade, and minority ownership of businesses will also rise, especially among women. (Courtesy of REALTOR® Magazine Online.)
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Sunny Second-Home Market, at Least for Now
The near-term outlook for the second-home market is strong, according to NAR Chief Economist David Lereah. “For the next five to 10 years, this is a very, very healthy marketplace,” Lereah said. (Courtesy of REALTOR® Magazine Online.)
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VA Expands Appraiser Roster to Improve Service
The U.S. Department of Veterans Affairs has added 1,282 members to its panel of VA-approved appraisers as part of a recruitment program to improve geographic coverage and appraisal timeliness. (Courtesy of REALTOR® Magazine Online.)
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REALTOR® Toolkit to Boost Public Schools
Members of the State and Local Issues Committee have created a Public Schools Toolkit to help REALTORS® improve schools in their communities, which can profoundly influence where people buy homes. (Courtesy of REALTOR® Magazine Online.)
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MAY 11
News Analysis -- Virtual Office Web Site Policy: A Cause Worth Fighting For
NAR could face a legal battle with the federal government over whether brokers can choose to keep their listings off of others’ Web sites.
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McDermott: REALTORS® Livelihood Under Attack
“It’s time to answer these charges,” Terrence M. McDermott, CEO of the NAR, told REALTORS® at the 2005 REALTORS® Midyear Legislative Meetings & Expo. With the national press running articles questioning the competitiveness of residential real estate thanks to concurrent investigations by Bush Administration regulatory agencies, McDermott called on thousands of REALTORS® to challenge what looks like an assault on the industry.
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Ending Fannie, Freddie Portfolio Raises Liquidity Risk
Congress should tread carefully before prohibiting Fannie Mae and Freddie Mac from continuing to buy mortgages and mortgage-backed securities for their own portfolio, according to real estate finance experts. (Courtesy of REALTOR® Magazine Online.)
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Mansell: Each Member Can Make a Difference
“The strength of one million begins with one—and that one is you,” Al Mansell, president of the NATIONAL ASSOCIATION OF REALTORS®, told an enthusiastic crowd at the Member & Director Forum on Tuesday. (Courtesy of REALTOR® Magazine Online.)
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Commercial Research Bears Fruit
New commercial research initiatives, including a bi-monthly survey and an analysis of growth trends, are beginning to yield results for commercial practitioners. (Courtesy of REALTOR® Magazine Online.)
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Manson Encourages REALTORS® to Press Congress for Reform of Endangered Species Act
Assistant Secretary Craig Manson from the Fish, Wildlife and Parks U.S. Department of Interior said cooperative approaches should be written into the Endangered Species Act (ESA) and that there already is a bi-partisan consensus to make it happen.
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| Top Leaders Voice Agreement on Importance of Diversity |
Leaders from government, education and corporate sectors gave high marks to increasing a commitment to diversity. U.S. Small Business Administrator Hector V. Barreto said a new federal campaign is expected to encourage financial literacy in America’s neighborhoods.
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MAY 10
Senator Talent Tells REALTORS® Outlook is Good for Small Business Health Plans
U.S. Senator Jim Talent (R-Mo.) told REALTORS® he is “rather optimistic” about the outlook for Senate passage of small business health plan legislation this Congress. Sen. Talent is a lead sponsor of the Small Business Health Fairness Act, one NAR's top priorities.
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MAY 9
Key Legislation, HOPE Awards, Housing Opportunity Top Midyear Meeting Agenda
More than 8,500 REALTORS® are expected to converge on Washington, D.C., May 9-14 for NAR's Midyear Legislative Meetings & Trade Expo. The event features a series of political forums that provide insights and information on important legislative and regulatory issues facing the real estate industry.
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For additional news on NAR's Midyear Legislative Meetings, visit REALTOR® Magazine Online's Top News Stories.
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