Volume 6, Issue 12:  May 24, 2013

Save the Date:  Legislative Action Day is June 18th!
The Delaware Associatiion of REALTORS® Legislative Action Day is June 18, 2013 from 11:30am to 1:30pm in Legislative Hall's 2nd Floor House Hearing Room.  Please take the opportuntiy to join DAR at Legislative Hall for lunch and a chat with your local legislators.  More to come...

LAST CHANCE!  Delaware Real Estate Commission Is Looking For Input:  The Delaware Real Estate Commission is asking for recommendations regarding changes to the Seller’s Disclosure of the Real Property Condition Report.  You can email your recommendations to Rick Allamong at rick@andytoday.com. All recommendations must be received by May 31, 2013! 

The Delaware Legislature will be back in Session the week of June 3rd!

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Federal News In Case You Missed It:
April Existing-Home Sales Up but Constrained: Existing-home sales rose in April but remain below underlying demand because of limited inventory and tight credit, NAR says. All regions are showing strong price gains from a year ago. Total existing-home sales increased 0.6 percent to a seasonally adjusted annual rate of 4.97 million in April from an upwardly revised 4.94 million in March.  Resale activity is 9.7 percent above the 4.53 million-unit level in April 2012. "The robust housing market recovery is occurring in spite of tight access to credit and limited inventory," NAR Chief Economist Lawrence Yun says. "Without these frictions, existing-home sales easily would be well above the 5-million unit pace. Buyer traffic is 31 percent stronger than a year ago, but sales are running only about 10 percent higher." 

Oklahoma REALTORS® Distributing Tornado Aid:   The Oklahoma Association of REALTORS® is making Tornado relief available through the Oklahoma Housing Foundation REALTOR® Disaster Relief Fund to help REALTORS® who have lost their homes in Moore and other impacted areas. "We have received many offers of supplies from all over the country," the association say. "The REALTOR® Family is truly coming together to help our folks in Moore." Learn about the assistance needs at this time at the association's Disaster Relief Fund page

Recap of Saturday’s BOD Decisions:  The NAR Board of Directors at its meeting Saturday, May 18, in Washington, voted to allow MLSs to make their public-facing sites a "basic" service for their participants. The Board also authorized association leaders to work with realtor.com to enhance the site for the future. Read about these and the other decisions in the Special INS recap that went out immediately after the meeting.  

Strong Fundamentals Shore Up Home Sales:  Home sales are on a sustained upswing, with solid gains in volume and in price expected for the next few years thanks to improved market fundamentals. But whether the federal government through its regulations and tax tinkering will derail further improvement remains a question, NAR Chief Economist Lawrence Yun said at last week's Midyear Meetings in Washington. 
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