Voice for Real Estate 40: Ads, VA loans, Flight Patterns

NAR’s new digital ad campaign has arrived. Find out how
YOU can use them! Loan limits could be going away for America’s
veterans! And federal regulators ask: are commercial
loans getting too loose? These stories and more on The Voice for Real
Estate Hi, I’m Stephen Gasque of the National Association
of Realtors. It’s no surprise many young people think
they can do anything online, including buy a house. After all, they grew
up with technology that lets them buy clothes, books, and
even a car with just a swipe of their finger. But real estate
professionals know buying a house is too complex, and far
too risky for that. That’s why NAR’s new national ad
campaign serves up a dose of reality by telling people to
“Get Realtor” before they buy or sell a house. The campaign started earlier this month – and
you can use the ads – at no charge. Just go to nar.realtor to download the ads
– post them on your website, share them in social media,
and include them in your print marketing. And – State and local
associations can customize the ads – with their names and
logos – using NAR’s online ad generator. [SWOOSH]
Did you know one out of every five home buyers last year
was a veteran? That’s thanks to the VA Loan. One of the
best performers any lender can make, even though in
most cases – the VA Loan is a Zero-down loan. But NAR
believes the loans could be even better! So, NAR Vice
President for Government Affairs Sherri Meadows, a
broker-owner of three real estate offices in central Florida,
went before a House VA subcommittee last week to
recommend improvements. Recommendation number
one? Eliminate the cap on VA loan limits. [QUOTE]
Lawmakers heard the concern loud and clear and passed
legislation to eliminate the loan cap—just as NAR
recommended. And now it’s the Senate’s turn to act. Other changes NAR advised at the hearing include
opening up transaction fees to negotiation and letting
borrowers use mortgage funds to renovate as well as
purchase a home, just as FHA allows. We’ll keep an eye on those. [SWOOSH]
Is commercial lending getting too loose? For many real
estate professionals, the answer is a clear no. In fact,
commercial real estate practitioners say financing is still
hard to get all over the United States. And yet some
federal regulators have said they’re worried underwriting
is getting too soft. NAR’s Stephanie Spear has more. [QUOTE]
Right now, regulators are in a wait-and see mode. You’ll be
hearing more from NAR, if regulators suggest future action
that could dampen the still-recovering commercial market. [SWOOSH]
Up next – real estate, airports and – emergency landings! The Federal Aviation Administration wants
to make a change in the flight path planes follow when
they’re coming in for an emergency landing – when
not all engines are working. Right now each airline sets its own path
based on data about its planes and other variables. The
FAA wants to create a single path for all planes. For NAR, safety is the single biggest consideration. But the
association and many other groups are concerned that the
FAA isn’t giving the public a chance to weigh in on this
matter, and that’s important, because the flight path the
FAA sets could affect where development—including projects already approved—can be built in
a community. NAR’s Erin Stackley has more. [QUOTE]
A bill that would ensure the FAA doesn’t move too quickly
on this has already passed a key committee in the House. We’ll keep you updated as the issue moves
forward. [SWOOSH]
Good news on home sales. NAR’s latest figures, for
January, show sales are holding steady on a solid monthto-month
basis and also up more than 10 percent from this time last year. That puts sales on a 5.4-million pace. NAR’s Lawrence Yun has more. [QUOTE]
In other market statistics, 80 percent of metro areas that
NAR tracks saw home prices go up over the last quarter. The national median home price now is $222,700,
up 7 percent from last year. [SWOOSH]
And that’s our show for the week of February 22. You can
get more on everything we talked about today at The
Voice for Real Estate page on nar.realtor. Thank you for
joining us, and be sure to join us again as we bring you the
latest news on The Voice for
Real Estate.

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