Washington DC 2009 – The Jim Sexton Report

MLS Committee-
There was discussion regarding whether Google is scraping web sites thereby violating IDX rules. This is an issue from Indianapolis, which is very controversial. I think it’s a well intentioned-poorly worded and interpreted rule that will be changed at the next NAR meeting – November in San Diego. In the meantime, although the MLS committee passed it, it got sent back to a task force by NAR’s board. I’m not aware of ARMLS taking any enforcement action regarding this matter.

The Summit-
An all day event with speakers and panelists discussing the economy and the issues of the day – short sales and why do they take so long. Take your pick of which speakers to watch. Alan Greenspan was good.

Shaun Donavon HUD Secretary spoke of HUD programs and was quoted as saying that the $8000 tax credit could be used as a down payment.  And then Monday 5/17 HUD’s ruling was reversed – tax credit can’t be used as down payment.

Hill visits-
I met with John Shadegg and lobbied on NAR’s behalf. The issues were:
1. Keep Freddie and Fannie alive;
2. Keep the loan limits at 2008 levels-$417 FNMA-$346 FHA;
3. Extend and expand the $8000 tax credit beyond 11/30/09 and to all homebuyers;
4. Retain current Capital Gains rates;
5. Extend TALF funds from 3-year term to 5 years.
6. Make health care available for all independent contractors better utilizing group programs.
7. Preserve the Mortgage interest deduction.
8. Don’t pass “green” legislation requiring an energy audit tied to sales.

Both Representatives were in agreement with the REALTOR® positions.