I usually highlight several different articles that I think would be of greatest interest to our members, but I am going to focus on one thing this month (I may sneak in a second thing later)—the Call For Action to renew the National Flood Insurance Program (NFIP).
If you haven’t received an email or text asking you to contact your U.S. Congressman and Senators, then you may go to http://realtorparty.realtor/renewnfip. Fill in your contact information and hit Review Your Message. Then, hit Send Message at the bottom. All together it takes about 20-30 seconds.
Houston should have among the highest response rates to this Call For Action since, unfortunately, we know all too well the devastation that flooding can have on entire neighborhoods and communities. NAR estimates that 40,000 real estate transactions may be negatively impacted if the NFIP isn’t renewed by its July 31, 2018 expiration date. We also need Congress to pass a long-term solution, rather than the Band-Aid approach that has been taken by authorizing the program for six-months or a year at a time.
We know that hurricane season has already started, so the last thing we need is a delay in taking action that would prevent our clients from being able to close on buying the home of their dreams.
All this being said, once the National Flood Insurance Program has hopefully been reauthorized, make sure you inform your clients about the need for flood insurance. Many of the homes damaged or destroyed by Hurricane Harvey weren’t in traditional areas that flood. According to media reports, as much as 80 percent of those with homes impacted by the hurricane didn’t have flood insurance. When dealing with what is likely the most expensive asset someone will own, the relatively affordable flood insurance premium should be a priority when purchasing and owning a home.
As I mentioned that I might sneak in a second topic…all of this political advocacy is one of the main benefits you receive from paying your REALTOR® dues. NAR, TAR and HAR all work hand-in-hand to make sure the issues that are important to you and your clients are addressed. The National Flood Insurance Program alone would be worth it. BUT make sure you read about all the benefits you receive on pages 26-29.
Until Next Month,
2018 HAR Chair