Real Estate is on the minds of realtors and economists, politicians and many homeowners. It is foremost on the minds of those disenfranchised ex-homeowners who had suffered through foreclosure. Homeowners have become renters and real estate agents have become apartment managers and rental agents. The entire industry has been skewed by the recession.
Residential, commercial, office space and industrial parks will all be up for discussion at this gathering of realtors. Important topics will include affordable financing for would-be homeowners, short sales, mortgage reform and preservation of tax benefits people enjoy as homeowners. Continuing authorization of the National Flood Insurance Program is in need of consideration before its upcoming expiration date, which is May 31st of this year.
Verbal interaction will take place between realtors and the FHA, Federal Reserve Board, U.S. Treasury and representatives from other government agencies involved in real estate and finance. A monumental occurrence will take place on Thursday, May 17 when 10,000 realtors will gather on the grounds near the Washington Monument. Many will travel by bus from as far away as North Dakota to represent the industry.
It is a fact that the industry is recovering in many parts of the country. The general feeling however, is that it will be slower than realtors would like. In many parts of Florida, for one example, there are still many foreclosed properties available for sale at greatly reduced prices. One exception is Miami, which is seeing properties selling at or above listing prices. There are other exceptions in California and it was recently reported that a home listing at more than $400,000 had two offers within two weeks of being listed in a Chicago suburb.
That is why the movers and shakers in the industry want to keep real estate prominent on the national level. All Americans realize how much real estate and employment affect the economy on so many levels. It plays a vital role in the health of the country and affects many of its citizens on some level of their existence.