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News Summary for May 1, 2006

Tom Stevens is quoted on FSBOs and title insurance. Stevens pointed to statistics from the 2005 Homebuyer and Seller Profile which found that sellers with agents netted 16 percent more than those without. Move.com, formerly Homestore, Inc., launched the new move.com site today. The site allows home shoppers to view a broad range of homes for sale, free of charge. In a break from its typical treatment of NAR, the New York Times quoted us credibly on four issues over the last few days: Small Business Health Plans, commercial real estate, Realtor.com, and vacation homes.

Comments

Realtors should get behind the Fairtax proposal now in congress. We need to do away with IRS and the entire tax code that no one can understand. Lets get behind this change and let the country know where we stand.

Not only do agent-assisted sales net a higher selling price than FSBOs, but based on the NAR research consumers who use a Realtor actually earn $18K more on their home, AFTER paying the commission. That's a lot of extra money.

http://athousevalues.blogspot.com/2006/05/using-real-estate-agent-saves-time-and.html

Clearly, we know where steve hicks stands. Continue to shift the tax burden onto those who can least afford it.

Under the FairTax plan, poor people pay no net FairTax at all up to the poverty level! Every household receives a rebate that is equal to the FairTax paid on essential goods and services, and wage earners are no longer subject to the most regressive and burdensome tax of all, the payroll tax. Those spending at twice the poverty level pay a tax of only 11.5 percent – a rate much lower than the income and payroll tax burden they bear today.

Under the federal income tax, slow economic growth and recessions have a disproportionately adverse impact on lower-income families. Breadwinners in these families are more likely to lose their jobs, are less likely to have the resources to weather bad economic times, and are more in need of the initial employment opportunities that a dynamic, growing economy provides. Retaining the present tax system makes economic progress needlessly slow, thus harming low-income people the most.

In contrast, the FairTax dramatically improves economic growth and wage rates for all, but especially for lower-income families and individuals. In addition to receiving the monthly FairTax rebate, these taxpayers are freed from regressive payroll taxes, the federal income tax, and the compliance burdens associated with each. They pay no more business taxes hidden in the price of goods and services, and used goods are tax free.

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News coverage shapes perceptions of people, organizations and entire industries.
Yet few of us understand what goes into the making of a news story. “NAR in the News” will give its readers a peek behind the scenes into how journalists cover the nation’s largest trade association and the 1.2 million REALTORS® it represents.

This blog is also a place for REALTORS® and others to express their opinions and ask questions that we will try to answer. “NAR in the News” is produced by NAR’s Public Affairs Division.


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