More than ever - BMAR membership matters

By: Nunzio Del Greco, RCE The current real estate market and economy has its challenges. The recent mid-term elections will move our country more to the center. However, challenges will continue into 2011. The incomprehensible size of the federal deficit will put pressure on congress to increase taxes and eliminate the Mortgage Interest Deduction (MID) to fill the void. On a national level, we have been successful in the past to retain MID. Being an active BMAR member and supporting RPAC is more important than ever. MID is a cornerstone of the American Dream and the residential housing market. Eliminating the MID would have a disastrous impact on the real estate industry and the economy. Get active on committees and contribute to RPAC. Below is a list of 2010 NAR Legislative & Regulatory Accomplishments. With your support and involvement, we can continue to fight the good fight and protect private property rights, the real estate industry and the economy. NAR advocates policy initiatives that will result in the return of a fundamentally sound and dynamic U.S. real estate market, fostering vibrant communities in which to live and work. During the 111th congress, the Realtor legislative and regulatory agenda has been focused on efforts to stimulate, stabilize and strengthen real estate markets across the nation while also protecting the business interests of its members. NAR has made progress on both fronts. The following list represents a portion of the activity conducted on behalf of Realtors. Protecting Realtors' Business Interests and Activities * Banks in Real Estate * Wall St. Reform and Consumer Financial Protection * Mortgage Reform * Fannie Mae/Freddie Mac--Government-Sponsored Enterprises (GSEs) * RESPA GFE/HUD-1 Disclosures * RESPA Guidance * Short Sales * Meetings with Large Lenders * Foreclosure Problems * Health Insurance Reform * Deductibility of Health Insurance Premiums for Payroll Tax Purposes Sustaining Housing Opportunities * First-Time Home Buyer Tax Credit * Protecting the Mortgage Interest Deduction * Mortgage Cancelation Relief * Carried Interest * Leasehold Improvements * FHA Reform * FHA and GSE Loan Limits * FHA and GSE Condo Policies * Multifamily Loan Limits * Rural Housing Sustaining Commercial Real Estate Opportunities * Economic Stimulus * Term Asset-Backed Securities Loan Facility (TALF) * Small Business Lending Fund * Surplus Lines Eliminating Barriers to Credit * Determining NAR Credit Policy * Flood Insurance * Energy Efficiency Incentives * Home Valuation Code of Conduct (HVCC) * Appraisal Reform * Fannie Mae Appraisal Issues * FHA Appraisal Issues * Valuation Summit * Green Energy Tax Credits * Clean Water Act Expansion * Affordable Property Insurance * Radon in Housing * FHA Flipping Rule * FHA Electronic Signatures * Implementation Delay and Compliance Education for Lead Paint Renovation Rule * Foreclosure Prevention and Response Program * Realtor Neighborhood Stabilization Project Educational Materials * NAR/HUD Webinars * VA Tool Kit * Talking to Home Owners About Flood Risk and Insurance Flyers * Lead Paint Renovation Compliance Guide * Short Sales Information The threats to our industry and economy will continue to be significant. Your active membership and support is more important than ever. Since 1924, BMAR has been providing valuable programs, services and networking opportunities to professionals and companies directly or indirectly servicing the business community and real estate industry. throughout the Greater New York metro region. All NYC real estate brokers and agents can join BMAR or its Manhattan Realtor chapter regardless of the location of their office address. As an incentive to join BMAR or its Manhattan Realtor Chapter, new members that join before Dec. 31, will be eligible to save $50 on the membership application fee. For more information, contact Grace Rivera at (212) 242-4343; (718) 892-3000 or email: [email protected]. Nunzio Del Greco, RCE is the chief executive officer of the Bronx-Manhattan North Association of Realtors, Bronx, N.Y.