The IRS issued guidance Thursday evening to grant deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway. Both of these programs are designed to promote economic growth in communities, and NAR made the case that investors in these programs should not be harmed due to the effects of COVID-19. 1031 Like-kind exchanges. If an investor has taken the first step of...
The National Association of Realtors® announced Wednesday that it will be expanding access to Members TeleHealth at no cost to its members for those who register before April 15. The program comes as part of NAR’s larger ‘Right Tools, Right Now’ initiative – relaunched on March 27 – which is making numerous valuable resources available to the association’s 1.4 million...
In deciding how to address new issues that may come up in your day-to-day business, we urge you to find answers that will ensure first-class services to your clients, while also demonstrating care for the health and well-being of clients, agents, and the greater public welfare in reducing the risk of exposure to and spread of COVID-19. Review NAR's Transaction Guidance...
As many of you already know, NAR announced that it will be delivering the 2020 REALTORS® Legislative Meetings and Trade Expo virtually from May 11-16. This is due to the recommendations and concerns resulting from the coronavirus pandemic. The virtual experience will include committee meetings, key sessions, and elections, along with numerous other online features. In addition, we have learned that all of...
Congress has passed the Families First Coronavirus Response Act (H.R. 6201) providing support to American workers, families, and businesses, including the expansion of paid sick leave and family medical leave. It also includes refundable tax credits for small businesses and self-employed individuals to cover the cost of the leave. NAR’s advocacy team continues to urge Congressional leaders to include support...
Why is NAR issuing this guidance? In response to the growing concerns about COVID-19, commonly referred to as coronavirus, NAR is providing this guidance to help REALTOR® associations respond to the coronavirus’ potential impact on the real estate industry. As of March 4, 2020, the U.S. Centers for Disease Control and Prevention (CDC) has issued Level 3 Travel Warnings for all...
Coronavirus: A Guide for REALTORS® Download NAR's Coronavirus Guidelines Why is NAR issuing this guidance? In response to the growing concerns about COVID-19, commonly referred to as coronavirus, NAR is providing this guidance to help REALTORS® respond to the coronavirus's potential impact on the real estate industry. As of March 4, 2020, the U.S. Centers for Disease Control and Prevention (CDC) has issued Level...
While the overall U.S. homeownership rate has been rising, it's not equal among all races. The National Association of REALTORS® released a report Tuesday, “Snapshot of Race & Home Buying in America,” that breaks down ownership rates by race across the country. For non-Hispanic white Americans, the homeownership rate consistently stayed above 71% from 2016 to 2019, while for black Americans in...
Moving to a smaller space is not just for empty nesters and retirees anymore, says Sheri Koones, author of Downsize: Living Large in a Small House (2019, The Taunton Press). Younger people are embracing a smaller footprint as well. “Younger couples … who are both working, they’re having children later, they want to be active and they don’t want to be doing maintenance...
The National Association of REALTORS® is accepting applications for this year’s Good Neighbor Awards, recognizing real estate professionals who have made an impact through volunteer service in their communities. Nearly 70% of REALTORS® volunteer in their community each month, according to NAR’s Community Aid and Real Estate report. NAR each year recognizes those local, state, and international volunteer efforts made by real estate...