While REALTORS® from across the country convened in Washington, D.C., last week to attend the REALTOR® Party Convention and Trade Expo, members from the San Francisco Association of REALTORS® met with U.S. Senators and congressional staff on Capitol Hill to advocate policies that protect and advance investment in residential and commercial property and that are critical to buyers, sellers and investors in the San Francisco Bay Area community.
"Attending the REALTOR® Party Convention and 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 Betty Taisch, President of the San Francisco Association of Realtors®. "In hundreds of meetings with elected officials and staff last week, 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."
Taisch's meeting with Democratic Leader Nancy Pelosi's office focused on important issues impacting the real estate market here in San Francisco, including homeownership affordability, 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.
Taisch also urged Leader Pelosi's office 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 Taisch. "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 harms families, neighborhoods and communities. We urge Congress to act quickly on this issue."
National Association of REALTORS® President Steve Brown, co-owner of Irongate, Inc., REALTORS® in Dayton, Ohio, praised the San Francisco Association of REALTORS®' efforts to address the important residential and commercial real estate issues that affect individuals, communities, small businesses and the nation.
"Homeownership and commercial investment help shape communities and strengthen the economy. With several significant real estate issues being debated in Congress this term, it was important that REALTORS® met with lawmakers last week to share their views and positions on proposed legislation that could have a meaningful impact on consumers' ability to purchase and own real estate," said Brown.
The San Francisco Association of REALTORS® is a professional association of more than 4,000 members that provides business services and legislative representation to real estate practitioners and affiliated service providers in San Francisco and surrounding areas. Visit http://www.sfrealtors.com to learn more.