Why I went to the Realtor® Rally in Washington, DC.

On Thursday, May 17,  Realtors® from across the country gathered on the steps of Capitol Hill to tell members of Congress that Home Ownership Matters – to people, to communities, and to America.

 Why now? Because despite the heated rhetoric of an election year, Realtors® remain focused on homeownership, housing and real estate issues; we know that the challenges our country faces aren’t going away after November. We believe that everyone should have the opportunity to pursue the American dream of homeownership, and we will fight against obstacles that make it more difficult for people to buy, own and invest in real estate.

I’ve practiced real estate here in Johnston County for many years. During that time, I’ve had the privilege of helping families invest in their futures through homeownership. Over the past few years, however, I’ve also
seen buyers with good jobs and strong credit histories turned down for loans; hard-working families who are unable to refinance into lower monthly mortgage payments; and people lose their homes to foreclosure because their bank was too slow to process a short sale.

There are some who say we should turn our backs on homeownership – that the government should step away from insuring and purchasing mortgages, that homeowners shouldn’t be able to take advantage of certain tax benefits, and that maybe owning a home isn’t all it’s cracked up to be, after all. 

There’s no doubt that homeownership isn’t for everyone. The decision to own a home is a very personal one. But there’s a reason we’re a nation of homeowners, by-and-large. Franklin Delano Roosevelt said, “A nation of homeowners is unconquerable.” That’s because homeownership fosters stronger communities, creates social stability, and contributes to a strong economy.

Yes, Realtors® sell real estate, and cynics may view our efforts as self-serving. But in doing our jobs, we help people into homes that give them shelter, a sense of community, and the opportunity to build financial security over the long term. We help businesses find homes, too; commercial real estate is just as much a part of the fabric of our local economy as are homes for families. 

As we look to America’s future, we must not lose sight of the values that helped make our country strong in the first place. Realtors® want our country’s current and future leaders to understand the vital role that real estate plays in both the long- and short-term health of this nation. And that’s why I went to Washington.

Denise Pilkington
President of the Johnston County Association of REALTORS®

With construction costs rising and the hassles associated with taking on a renovation project, many homeowners can be reluctant to tackle certain projects when it comes to remodeling their home. However, according to the 2011-12 Remodeling Cost vs. Value Report, several inexpensive exterior replacement projects are not only crucial to a home’s regular up keep, but are also expected
to recoup close to 70 percent of costs.

“Exterior replacement projects continuously out perform other remodeling projects in terms of resale value, especially siding, window and door replacements,” said Denise Pilkington, President Johnston County Association of REALTORS®. “These types of projects are considered essential to regular home maintenance so homeowners will need to implement them anyway to keep their house functioning properly. The good news is that these projects do not require expensive materials. Many exterior replacement projects can be performed with durable low-maintenance materials and they also have the added bonus of instantly adding curb appeal, which is important to those looking to sell.”

 The 2011-12 Remodeling Cost vs. Value Report compares construction costs with resale values for 35 midrange and upscale remodeling projects in 80 markets across the country. Realtors® provided their insight into local markets and buyer home  preferences within those markets. Overall Realtors® estimated that home owners would recoup an average of 57.7 percent of their investment in 35 different improvement projects, down from an average of 60 percent last year.  

Seven of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects. Upscale fiber-cement siding replacement was judged by Realtors® as the project expected to return the most money, with an estimated 78 percent of cost recouped upon resale. Two additional siding replacement projects were in the top 10, including foam-backed vinyl
siding and upscale vinyl siding. In addition, three door replacements were among the top exterior replacement projects. The steel entry door replacement is the least expensive project in the report, costing little more than $1,200 on average and is expected to recoup 73 percent of cost upon resale. Both the midrange and upscale garage door replacements are expected to return more than
71 percent of costs.

According to the Johnston County Association of REALTORS®, the desirability and resale value of different remodeling projects varies by region and metropolitan area. “There are regional differences when it comes to the resale value of particular remodeling projects,” said Pilkington. “Realtors® can help homeowners decide what low-cost improvement investments will provide the most
upon resale in their particular market. It’s important to keep in mind that resale value is just one factor among many that homeowners must take into account when making a decision to remodel.”

Three interior remodeling projects are also considered worthy investments. A midrange attic bedroom remodel is expected to return 72.5 percent of cost. Out of all the projects it is the least expensive way to add a bedroom and bathroom within a home’s existing footprint (be sure to check with your county's permitting department before adding a bedroom). A minor kitchen remodel and wood
deck addition are also expected to recoup more than 70 percent of costs. Improvement projects that are expected to return the east are a sunroom addition and a home office remodel, both estimated to recoup less than 46 percent of costs.

The 2011-12 Remodeling Cost vs. Value Report is published by Remodeling magazine publisher Hanley Wood, LLC and is in collaboration with the National Association of Realtors®. Additional data for the report can be found at NAR’s consumer website, HouseLogic.com. The website includes a wide variety of ideas and projects to help homeowners maintain, enhance and improve the value of their homes.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS®and subscribes to its strict Code of Ethics.

The Johnston County Association of REALTORS® is hosting their 2nd Annual Affiliate Fair.  This is a time for it's  Partners, including mortgage lenders, home inspectors, and advertisers, to come together to highlight their offices and to showcase what they can offer to the REALTORS® buyers and sellers in the Johnston County Real Estate Market.  The businesses will be holding prize drawings at each of their booths along with the Assocation hosting a prize drawing for it's members.  The fair atmosphere is lively with hot dogs, drinks & popcorn.  It's a real "Fair" atmostphere.

This is a member's only event but guests are always welcome.  If you are interested in learning more about how to become a Partner or member of the Johnston County Association of REALTORS® please visit our website and click How and also visit our Partner's page.







REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS®and subscribes to its strict Code of Ethics.

In an election year, rhetoric heats up and many issues come to the foreground; some have even questioned the long-standing value of American homeownership. To ensure that homeownership, housing and real estate issues are a public policy priority in this country, Realtors® from across the country will rally in Washington, D.C. on May 17 to protect the American dream.  
 
“As the leading advocate for homeownership and housing issues, Realtors® want our country’s current and future leaders to understand the vital role realestate plays in both the long- and short-term health of this nation,” said Denise Pilkington, President of the Johnston County Association of REALTORS®.  “That is why we will join forces this on May 17 in Washington. Realtors® believe that everyone should have the opportunity to pursue the dream of homeownership, and we will fight against obstacles that make it more difficult for people to buy, own and invest in real estate.”     
 
The Rally to Protect the American Dream will take place in front of the Washington Monument on the morning of May 17 in Washington, D.C. Members of Congress will join Realtors®as they hear from speakers about how homeownership
issues affect individuals, communities, small businesses and the nation. The rally will also highlight the important role housing plays in the economic recovery. 

Speakers include National Association of Realtors® President Moe Veissi, NAR Chief Economist Lawrence Yun, California Association of Realtors® Treasurer Chris Kutzky, Florida State Representative and Realtor® Matt Hudson, Certified
Commercial Investment Member Greg Hrabcak, as well as U.S. Rep. Steny Hoeyer and U.S. Sen. Johnny Isakson. Approximately 10,000 Realtors® areexpected to attend the rally. The rally is also part of NAR’s Midyear Legislative Meetings & Trade Expo taking place in Washington May 14-19. 
 
Recent opponents have said the government should take a step back in its role to further homeownership and that homeowners shouldn’t be able to take advantage of certain tax benefits. Critics have also voiced concerns that owning
a home may not be a wise investment. 

NAR says issues like the mortgage interest deduction, foreclosures and short sales, affordable financing and available credit don’t just affect people who own a home – homeownership shapes communities and strengthens the nation’s economy. The Johnston County Association of REALTORS® also points out that housing is a key driver in our national economy.  Housing accounts for more than 15 percent of the U.S. Gross Domestic Product and home sales in this country generate more than 2.5 million private-sector jobs in an average year. 

“Over the past few years members have seen buyers in Johnston County with good jobs and strong credit histories turned down for loans,” said Pilkington. “They have also seen hardworking families unable to refinance into a lower 
monthly mortgage payment and people losing homes to foreclosure because the bank was too slow to process a short sale. These problems are happening in every neighborhood across the country, and Realtors® are more determined than ever to fight against these obstacles and make sure the American Dream of homeownership is protected for current and future generations.”
 
For more information about the Rally toProtect the American Dream, visit www.realtorrally.org.