Realtors with Senator Bob Corker
Fighting for all current and prospective American home and property owners, more than 8,500 realtors went Washington, D.C., this week to urge action on various real estate issues during the 2015 Realtor Legislative Meetings & Trade Expo. Executives from the Greater Chattanooga Association of Realtors joined fellow realtors from around the country to attend the meetings and visit lawmakers on Capitol Hill.
“It is crucial that our lawmakers understand the serious issues that face the real estate industry,” said Travis Close, president of the Greater Chattanooga Association of Realtors. “Realtors lead the way in advocating for home and property owners in their communities, and we showed this week we can do the same here in our nation’s capital with our elected officials.”
While Mr. Close and his fellow executives were in Washington for the week-long conference, they met with Senator Bob Corker, Senator Lamar Alexander, and Representative Chuck Fleischmann to influence public policy decisions that will directly affect consumers’ ability to buy, sell and own real estate. The group also discussed key issues with Georgia elected officials such as Representative Tom Graves, Senator Johnny Isakson, and Senator David Perdue.
Members of the National Association of Realtors focused on several major issues pertaining to both residential and commercial real estate during the legislative meetings. Of key importance is preserving current real estate-related tax policies and extending the recently expired Mortgage Forgiveness Tax Relief Act, which stops distressed homeowners from receiving excessive income tax bills on forgiven home loan debt. Other pressing matters included patent reform, the creation of nationwide data security standards, and the passage of the Mortgage Choice Act to end discrimination against affiliated lenders.
“Congress is set to take up legislation on several issues in which consumers and realtors have a real stake, so it is very important our elected officials know the impact they have on our communities and nation as a whole,” said Mr. Close.
Secretary of Housing and Urban Development Julián Castro also provided a housing industry outlook to meeting attendees and referenced credit availability as the biggest hurdle to homeownership. Consumer Financial Protection Bureau Director Richard Cordray discussed changes to loan closing procedures and documents, stating that the new mortgage rules are in place to educate and empower buyers to “know before they owe.”
In addition, Realtors® heard from political strategists Donna Brazile and Ed Gillespie, who shared their perceptions on how social media and the 24-hour news cycle impact congressional priorities and play a role in the political gridlock in Washington.
Realtors with Rep. Chuck Fleischmann