By J. Graber | Scottsdale Independent
Scottsdale Realtors® members and staff recently met with Senator Ruben Gallego during the Realtors® Legislative meetings in D.C.
Members of the National Association of Realtors® from around the country, including Scottsdale, converged on Capitol Hill recently asking federal lawmakers to support a slew of bills concerning local real estate markets.
“The reason for the visit was to talk to them and maybe give them a different perspective and give them some personal stories on how passing this legislation, these particular bills, would impact the industry as a whole,” said Becca Linnig, a member and former president of the Scottsdale Realtors® who traveled to D.C. to speak with Senators Ruben Gallego and Mark Kelly as well as Rep. David Schweikert.
The meetings went well with all three law makers, but really struck a chord with Schweikert, Linnig said.
“Being a Realtor himself at one time … a lot of the things we talked about, he really gets,” Linnig said.
She noted a number of the federal bills the Realtors® are supporting and their underlining issues have very similar counterparts in the Arizona. For instance, a shortage of homes doesn’t just affect the Arizona market. There is a shortage of about 4.7 million homes across the country, according to a press release from the Scottsdale Realtors® association.
The Scottsdale contingency urged federal lawmakers to support:
- The More Homes on the Market Act (House of Representatives 1340) to decrease the equity penalty and incentivize more long-term owners to sell their homes. The bill increases the capital gains tax exemption to $500,000 for an individual and $1 million for couples.
- The Housing Supply Framework Act (House of Representatives 2840/ Senate 1299) to create a national strategy for boosting housing production and affordability by reducing barriers to new housing development.
- The Revitalizing Downtowns and Main Streets Act (House of Representatives 2410) to convert underused commercial properties into residential and mixed-use housing.
- The Uplifting First-Time Homebuyers Act (House of Representatives 3526) to increase the amount that can be withdrawn penalty-free from IRAs for a down payment on a first home.
- The Fair and Equal Housing Act (House of Representatives 3696) to add sexual orientation and gender identity as protected classes under the Fair Housing Act, codifying the application of the Supreme Court’s Bostock v. Clayton County decision to the Fair Housing Act, to help ensure equal housing protections for all Americans.
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