The Communications Committee is seeking nominations for a new monthly award to promote Realtor Awareness within the community.
Award winners for each month will have their photo and bio appear on our RE Weekly ad space!
You can nominate an associate, or nominate yourself!
How does your nominee demonstrate community spirit? We want to share it!
Please see the nomination form for more information. We will be reviewing all nominations monthly at our Committee meeting. You don’t need to resend your nomination each month, but you may ‘update’ a nomination at any time.

We hope to hear from you soon!
The Communications Committee

By Megan Booth, Sarah C. Young, Colin Allen
January 9, 2015

On Jan. 8, 2015, at a speech in Phoenix, AZ attended by NAR President Chris Polychron, President Obama announced that the Federal Housing Administration (FHA) would reduce FHA annual mortgage insurance premiums (MIP) by 50 basis points.  This reduction is a victory for the National Association of REALTORS® whose members have called for lower fees on FHA loans since early 2014.  NAR raised concerns about the costly premiums to FHA Commissioner Galante in April 2014, and NAR has lead a  coordinated effort with other advocacy groups and members of Congress to achieve this victory.  NAR estimates that a 50 basis point reduction in the annual MIP from 1.35 percent to .85 percent would price-in an additional 1.6 million to 2.1 million renters, along with many trade-up buyers, resulting in 90,000 to 140,000 additional annual home purchases.

The premium reduction will be effective for case numbers assigned on or after Jan. 26, 2015. To allow borrowers already in the loan pipeline to take advantage of the lower rates, FHA will temporarily approve cancellation requests for active FHA Case Numbers within 30 days of the effective date of this ML.  Full details of the premium changes are published in Mortgagee Letter 2015-01.
NAR Press Release
Source: Realtor.org

WASHINGTON (January 7, 2015) - Existing-home sales are forecasted to rise about 7 percent in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices, according to National Association of Realtors® Chief Economist Lawrence Yun in a newly-released video on his 2015 housing market expectations.

In the NAR-published video, Yun discusses his expectations for the U.S. economy and housing market in 2015 and points to the expanding economy, continued growth in the labor market and home prices rising at a moderate but healthy clip as his reasons for an expected increase (from 2014) in new and existing-home sales (view infographic).
Read more at http://www.realtor.org/news-releases/2015/01/stronger-economy-solid-job-growth-expected-to-boost-home-sales-in-2015

More Articles...

  1. Legislative Analysis of Flood Insurance Changes
  2. Water Availability for Skagit Basin Landowners
  3. Interactive WA Flood Map

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