Bennington, November 17, 2007 – Troy Richardson of The Southern Vermont Board of REALTORSÂ® in Bennington, VT was among the more than 30,000 RealtorsÂ® â€“ a record number â€“ attending the REALTORSÂ® Conference & Expo titled â€œNo Limits,â€ held in Las Vegas, November 13â€“16.
RealtorsÂ® and other guests came to the National Association of RealtorsÂ® annual conference to stay abreast of the latest developments and trends in the real estate industry, networking with colleagues from across the United States and from more than 50 countries around the world.
NAR President Pat V. Combs urged RealtorsÂ® to help restore confidence in the real estate market by educating the public about the value of housing as a good long-term investment. â€œHousing continues to be a good long-term investment,â€ said Combs, â€œReal estate is alive and well and there are plenty of opportunities for consumers and RealtorsÂ® in the current market.â€
NAR Chief Economist Lawrence Yun pointed to an increase in jobs and the projected growth of the gross domestic product at 3.3 percent as evidence of positive economic fundamentals. Yun contrasted current low interest rates and high employment levels, and explained how present market conditions differed from those in previous market slowdowns. Yun also told attendees that home prices are holding up extremely well. â€œ2007 is shaping up to be a good year with home prices at near record highs. Only two other years â€“ 2005 and 2006 â€“ were better, which also set records at the time,â€ he said.
RealtorsÂ® attended programs on the economy, public policy, equal opportunity and diversity, land use and property rights, the environment, international real estate and housing opportunities. RealtorsÂ® were also briefed on NARâ€™s advocacy efforts regarding several legislative and regulatory proposals that would further benefit homeowners. These included eliminating the tax on â€œphantomâ€ income that affects individuals who have a loan forgiven or are forced to foreclose, modernizing the Federal Housing Administrationâ€™s mortgage-insurance program and addressing the impact of and solutions regarding rising homeowner and property insurance rates.
RealtorsÂ® are known for their commitment to building strong communities, and hundreds of them contributed their time and efforts to the greater Las Vegas community while attending the conference. Conference attendees rolled up their sleeves and lent a hand to Habitat for Humanity Las Vegas and the Childrenâ€™s Service Guild, a Las Vegas-based nonprofit dedicated to helping children touched by the family court system.
NAR kicked off a yearlong centennial celebration at the conference, marking 100 years of bringing America home. A new book, The National Association of RealtorsÂ®: 100 Years in Celebration of the American Dream, which provides an historical account of the real estate industry over the past century and NARâ€™s involvement in shaping and transforming that industry, was made available for the first time, and a retrospective video premiered during the conference.
There were also 744 exhibitors at the conference â€“ the largest number on record in a single NAR trade show â€“ displaying the latest in real estate-related hardware, software and other state-of-the-art industry tools.
The National Association of RealtorsÂ®, â€œThe Voice for Real Estate,â€ is Americaâ€™s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
Press Release, Bennington VT