What Government Shutdown Means for REALTORS®

As of midnight on December 21, 2018, the President and Congress were unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government. As a result, a partial shutdown of some government operations has occurred. This partial shutdown includes some federal housing, mortgage and other programs of interest to the real estate industry. A summary of the impact on selected agencies is provided

How Flood Insurance is Impacting Transactions

Updated: 12/28,2018

On December 26, FEMA issued guidance instructing insurers not to sell or renew flood insurance policies during the partial government shutdown. Transactions involving a buyer who has not obtained required flood insurance will not be able to close until FEMA allows insurers to sell flood insurance policies. Those who obtained flood insurance on or after 12:00 a.m., December 22, 2018, may also not be able to proceed with their closings pending a determination by FEMA.


Obtain and Maintain Insurance Requirements

Louisiana REALTORS® published an article about “Obtain and Maintain Insurance Requirements” that applies to homeowners that receive federal disaster assistance. This is an important requirement for both REALTORS® and consumers to be aware of because failure to follow the provisions set forth may result in being ineligible for future disaster assistance as well as the requirement to repay disaster relief funds recieved. REALTORS® are encouraged to use a Flood Insurance Purchase Requirement Addendum when the transaction includes a property that is subject to the “obtain and maintain” requirements.

REALTOR Party and 2019 Federal Policy Priorities

The REALTOR® Party is a powerful alliance of REALTORS® and REALTOR® Associations working to protect and promote homeownership and property investment. Last week at the REALTOR® Party Training Conference, NAR outlined the top policy priorities for the organization in 2019 and trained Association leaders and REALTOR® volunteers on ideas on how to get members involved.

NFIP Extended A Week to Prevent Lapse

Congress pushed back its deadline to deal with the National Flood Insurance Program by at least a week, passing yet another short-term extension of the program late Thursday.

A deadline to avoid a lapse in the federal program, which underwrites most flood insurance coverage in the country and covers a half-million Louisiana homes, had been looming at midnight on Friday. The short-term deal is the eighth temporary extension for the program since it first came up for periodic renewal more than a year ago.

Fannie Mae & Freddie Mac Increase Loan Limits

The maximum conforming loan amount that Fannie Mae and Freddie Mac can back will increase to $484,350 from $453,100 in 2019, a 6.9 percent increase, the Federal Housing Finance Agency announced today. 

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Component Parts: What's Included with the House or Building?

Buyers are often impressed by a property's features such as solar panels or a large porch.  The house or building may also have beautiful light fixtures, commercial appliances or an outdoor kitchen with a grill.  Which items the Seller is intending to sell and which items the Buyer is intending to purchase with the property is often a source of dispute and has led to litigation post-closing between Buyers and Sellers.  Component parts of a house or building are transferred with the property.  But what are the component parts of a house or building? 

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Listen Here: Changes to Residential Agreement to Buy/Sell

The process for making changes and updates to the Residential Agreement to Buy/Sell is a joint effort between Louisiana REALTORS and the Louisiana Real Estate Commission. As 2019 approaches, real estate licensees and practitioners will see some changes and updates to the form that resulted from over 200 comments and ideas sent to the workgroup for deliberation.

Make a Difference in Your Neighborhood!

Louisiana REALTORS in partnership with CPEX and Local Associations have sponsored a workshop focusing on how to make a difference in your neighborhood! A hands on session titled “Tools for Neighborhood Transformation” has been approved for 2 hours of CE credit and will feature national experts to increase the quality of life and place.

Run in Spirit: With a Donation to the REALTOR Relief Fund

Louisiana REALTORS has assembled the Louisiana Lagniappe team led by President Pam Testroet. The group will participate in the first ever 5K event and is seeking donations that will benefit the Disaster Relief Fund. Many of us in Louisiana have benefited from the contributions of our fellow REALTORS following disasters and our friends in Florida and Carolinas could use the favor returned.

PAR Guide to Constitutional Amendments

Voters statewide will be asked to decide yes or no on six proposed amendments to the Louisiana Constitution on the Nov. 6, 2018, ballot. These amendments address a number of serious issues. The PAR Guide to Consitutional Amendments does not tell you how to vote but rather offers voters an analysis of the issues in order to make informed decisions.

Understanding License Fees & Association Dues

It’s that time of year again - license renewals and membership dues billing! The majority of real estate practitioners do not know the difference between the two and easily confuse payment of one for the other. Louisiana REALTORS® has put together a resource that can explain the difference between the two and elliminate some of the confusion and explain some of the frequently asked questions about the process.

Louisiana REALTORS® Leadership Graduates

Louisiana REALTORS® graduated 20 REALTORS® practicing in markets around the state from the LRLeadership program, an initiative dedicated to broadening and enhancing the REALTOR® volunteer within our communities and within association leadership.

2019 Officer Installation

Louisiana Realtors held its 2019 Installation on the downtown riverbank in Natchitoches on Sept. 20.

RECAP: Career Development Week

Louisiana REALTORS held the second week long event focused on the opportunity for REALTORS to earn nationally recognized designations and certifications. Attendees of the event learned from some of the best national instructors and walked away better prepared to represent clients and with the strategies needed to apply to their business.

NOTICE: Proposed Constitution and Bylaws Amendments

This serves as notice of proposed amendments to the Constitution and Bylaws and Policies and Procedures of the Louisiana REALTORS® as required by Article 4 of the Constitution and Bylaws of the Louisiana REALTORS®. The proposed amendments will be discussed in Region Caucuses and Town Hall session during the Fall Governance Meeting and voted by the Board of Directors on Friday, September 21.

News Corp Agrees to Acquire Opcity

News Corp today announced that its subsidiary Move, Inc., operator of realtor.com®, has entered into an agreement to acquire Opcity, the market-leading real estate technology platform that matches qualified home buyers and sellers with real estate professionals in real time.