Pat V. Combs, President of National Association of Realtors, Says Real Estate is Alive and Well

In a November 12^th press release of the National Association of Realtors, the organization summarized some of the highlights of the address by its president, Pat V. Combs, who promoted to her fellow realtors that they educate the public on the value of real estate as a long term investment. The occasion was the 2007 Realtors Conference and Expo held in Las Vegas, Nevada. The conference started on November 12^th , and will continue through November 16^th, according to the press release, which also indicated that thirty thousand members are expected to attend the conference.

Ms. Combs was quoted in the press release as stating: "Take time at the Realtors Conference and Expo to consider evidence and gather the information you need to help realtors in your state refute inaccurate stories and build confidence in the market. Real estate is alive and well..." She then further remarked on the viability of the current market for both consumers and realtors .

In addition to the address by Ms. Combs, the group also heard from Lawrence Yun, the chief economist of the National Association of Realtors . Mr. Yun pointed to the low interest rate which is currently at 6.4 per cent, and expected to remain low through 2008, as a favorable factor for the real estate market. He also stated that property values are strong, according to the press release, .with only two years - 2005 and 2006 - having higher property values.

Other topics discussed in the conference or soon to be discussed include a bill that has passed in the House and is now in the Senate to eliminate the tax on forgiven loan or a foreclosure - the tax with the nickname "phantom" income tax; a bill passed by the House and now in the Senate for flood insurance for home owners, renters and commercial property owners; the effects of natural disasters on insurance; the rising cost of insurance on homes; and mortgage insurance backed by the federal government, stated the press release.

More than two hundred conferences are scheduled and seven hundred and forty four exhibitors are expected, stated the press release. The show room has over four hundred thousand square feet.

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