While realtors from across the country convened in Washington, D.C. earlier this month to attend the Realtor Party Convention & Trade Expo, members from the Sussex County Association of Realtors met with U.S. senators and congressional staff on Capitol Hill to advocate policies that protect and advance real estate and that are critical to buyers, sellers and investors in southern Delaware.
“Attending the Realtor Party Convention & Trade Expo is an excellent opportunity for Realtors to influence the public policy decisions that will directly affect consumers’ ability to buy, sell and own real estate,” said Brad Riedle, 2014 president of SCAOR. “In hundreds of meetings with elected officials and staff this month, Realtors demonstrated the strength of the Realtor Party and encouraged support for issues crucial to their business, clients, community and the future of the real estate industry.”
The meetings between SCAOR members and Delaware Sen. Thomas Carper and Sen. Chris Coons, as well as senior staff from Rep. John Carney’s office, focused on important issues impacting the real estate market in Delaware, including the recently passed flood insurance bill, preserving the mission and accessibility of Federal Housing Administration and Veterans Affairs home loan programs, protecting real estate-related tax policies and reforming the secondary mortgage market.
Realtors also urged the state’s congressional delegation to reinstate an expired tax provision that provides relief to individuals following a loan modification, short sale or foreclosure.
“The Mortgage Forgiveness Debt Relief Act expired at the end of 2013, and assured individuals would not have to pay income tax on forgiven mortgage debt,” said Riedle. “Distressed homeowners who’ve suffered through the loss of their home should not be further burdened with additional income taxes. It’s not only unfair, but it also harms families, neighborhoods and communities. We urge Congress to act quickly on this issue.”
Building on the momentum established at the national event, the Delaware Association of Realtors is hosting a Legislative Action Day Tuesday, June 17, at Legislative Hall in Dover. This gathering will afford local real estate professionals an opportunity to meet with their state lawmakers and talk to them about issues that affect the industry in the First State.
About two dozen members of SCAOR attended the expo and Capitol Hill event, representing all areas of Sussex County. The yearly gathering is organized by the National Association of Realtors.
To read more about issues related to Sussex County’s real estate industry, go to www.scaor.com.