Volume 6, Issue 16: June 21, 2013
REALTORS® from all ends of the state converged on Legislative Hall this past Tuesday for DAR's Annual Legislative Action Day and Luncheon. What did you miss? An informative, impromptu panel of Freshmen Legislators discussing tax policy and Representative Ruth Briggs King's House Resolution 13, which recognizes the Centennial of the Code of Ethics and Standards of Practice of the National Association of REALTORS®. You can read HR 13 HERE and you can check out more pictures from Legislative Action Day HERE.
Major Changes to National Flood Insurance Program! Please take 4 minutes and 39 seconds out of your day to watch an important video from NAR about the changes to the National Flood Insurance Program. The video will tell you what properties are affected and why. CLICK HERE FOR THE VIDEO!
Delaware Housing Prices Highlighted in Today's New Journal: "Home sale prices improved in each of Delaware’s three counties in May as the state’s fragile real estate recovery continued into late spring..." Read more HERE.
The Legislative Session Ends on Sunday, June 30th at midnight!
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Federal News In Case You Missed It:
Bills Aim to Protect Rural Areas' Loan Eligibility:
Two bills are moving through Congress to protect hundreds of rural communities facing loss of eligibility for Rural Housing Service loan programs because of shifting population dynamics. The big Senate agriculture bill known as the Farm Bill would grandfather in the communities' eligibility and raise the population limit to 35,000 from 25,000, and a House appropriations bill would extend eligibility to the communities for another year. NAR supports the efforts
because the communities are being penalized by a definition of "rural" that is decades out of date. For more info contact Megan Booth
, 202/383-1222. SBA Loans Sought for Commercial Projects:
Commercial real estate projects would be eligible for the Small Business Administration's 504/CDC refinance program for five years in an NAR-supported bill
moving through the Senate. The "Commercial Real Estate and Economic Development (CREED) Act of 2013," S.289, could help alleviate some of the pressure from the nearly $1.3 trillion of commercial real estate loans with balloon mortgages that will mature between 2013 and 2016, by allowing small businesses to refinance certain owner-occupied commercial buildings. Other helpful changes are included in the bill. For more info contact Vijay Yadlapati