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2020 GSREIN Board of Director Candidates

The Nominating Committee has approved the following Slate of Candidates for the 2020 Board of Directors Election.  The Bylaws direct “Additional candidates for office may be placed in nomination by Petition signed by at least ten percent (10%) of the Participant members, (94) before 5:00 pm on Thursday, September 19, 2019. Click Petition for the form, or you may contact Mary at the Board Office, 504-885-3200, for a copy. The current candidates are:

 

Nick Galiano. Participant | Galiano Realty

Lisa Heindel. Participant  | Crescent City Living, LLC

John Sibley. Subscriber | Keller Williams Realty 4450100

Vickye Vasser. Participant | HomeSmart Realty South

 Mary Vastola. Manager | Coldwell Banker TEC, REALTORS® 

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Support LARPAC

Support Larpac Football

To buy a square, contact Tranell, Erin, Melissa, or Kelli at (504-885-3200 

Louisiana REALTORS® Political Action Committee Disclosure (LARPAC):   Contributions are used for political purposes, are voluntary, and are not deductible for Federal income tax purposes.   The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts.  Neither your membership nor your participation in Louisiana REALTORS® is conditioned directly or indirectly on contributing to LARPAC.  You may refuse to contribute without reprisal. Your contribution is split between the National REALTORS® Political Action Committee to support federal efforts and Louisiana REALTORS® Political Action Committee to support state and local efforts.  The National RPAC portion is used to support federal candidates and is charged against your limits under 52 U.S.C. 30116.

Project Approval for Single-Family Condominiums

The U.S. Department of Housing and Urban Development released an updated guidance on FHA-insured condominium financing. These new rules should benefit your real estate clients and customers by allowing more buyers to obtain low down-payment mortgages on affordable housing options.
 
Specifically, the new rules will:
 
  • Extend FHA certifications on condo developments from two years to three years, reducing the compliance burden on condo boards.
  • Allow for single-unit mortgage approvals—often known as spot approvals—which will enable FHA insurance of individual condo units, even if the property does not have FHA approval.
  • Secure additional flexibility in the ratio of investors to owner-occupants allowed for FHA financing in a condo building.
 
The full guidance will go into effect in mid-October, 60 days from publication.
 
“Condominiums are often the most affordable option for first time home buyers, small families, and those in urban areas,” said NAR President John Smaby, in a statement issued to the media Wednesday morning. “We are thrilled that (HUD) Secretary (Ben) Carson has taken this much-needed step to put the American dream within reach for thousands of additional families.”
 
Since 2008, NAR has championed policy changes in condo lending. NAR has sought rules that would allow the owner-occupancy level to be determined on a case-by-case basis and that would extend the approval period for project certification to five years.
 
NAR’s existing-home sales report for June showed condominium and co-op sales at a seasonally adjusted annual rate of 580,000 units, a decline of 3.3% from May and 6.5% from June 2018. With more than 8.7 million condo units nationwide, only 17,792 FHA condo loans have been originated in the past year.
 
“This ruling, which culminates years of collaboration between HUD and NAR, will help reverse recent declines in condo sales and ensure the FHA is fulfilling its primary mission to the American people,” Smaby said.
 
Click here to read the full rule for single-family condo financing.

* FULL Housing Opportunity Lunch & Learn

Housing opp Lunch Learn Sept 6

Join NOMAR Housing Opportunity Committee for their annual lunch & learn! This year's topic will be: Expanding Housing Opportunity through HUD Voucher Choice (Section 8) Program with speakers, Anjel Butler from Housing Authority of New Orleans and Valeria Pruitt from Housing Authority of Jefferson. Lunch will be provided!

Register!

*

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