Ambassador to Cities Program to Expand Housing Opportunities

1/23/2004

From: Walt Molony of the National Association of Realtors(r), 202-383-1175, wmolony@realtors.org or Rhonda Spears of the U.S. Conference of Mayors, 202-861-6766, rspears@usmayors.org

WASHINGTON, Jan. 23 -- The National Association of Realtors(r) and the U.S. Conference of Mayors Council for the New American City announced the establishment of the Realtors(r) Ambassador to Cities initiative with a goal of expanding housing opportunities and homeownership in four to six cities this year, and more in 2005.

Through this program, Realtors(r) and mayors will work together on affordable housing initiatives that will raise city homeownership rates. The purpose of the program is to expand housing opportunities on a city-by-city basis.

NAR President Walt McDonald, broker-owner of Walt McDonald Real Estate in Riverside, Calif., in an address to the 72nd Winter Meeting of the U.S. Conference of Mayors in Washington, D.C., said, "Putting homeownership within reach of more families is a high priority for us, and it is the right thing to do. As we continue to focus on closing the homeownership gap for underserved families, we also are working to make sure there are products to help all first-time homebuyers."

In September 2003, at NAR's Affordable Housing Summit, discussions began over how Realtors and mayors could work together to overcome the barriers to affordable housing. As a direct result of that discussion, NAR and the U.S. Conference of Mayors Council for the New American City decided to establish the Ambassador to Cities initiative.

"The Ambassador to Cities program will help to further expand the relationship between mayors and the people who frequently introduce new citizens to our cities-Realtors(r)," said Conference President James A. Garner, mayor of Hempstead.

Last week, the two organizations launched their first joint program in Memphis, Tenn. It includes an educational campaign for real estate professionals to raise awareness about the array of homeownership assistance that is available to low- and moderate-income families, and will also fund research to ensure that the assistance meets the needs of local homebuyers and borrowers.

"The Memphis Ambassador to Cities program is a great example of how partnership between public officials and the private sector can make a difference in America's cities and improve the communities where we all live," McDonald said.

Underscoring the benefit of Realtors? working with mayors, McDonald said NAR members understand better than anybody the needs of homebuyers, sellers and their communities. "It's our job to help people find a place to live. Realtors(r) are a big part of America's communities. They know what families need to feel secure and stable, and understand the unique issues and challenges families face trying to buy or sell a home."

In looking beyond leadership from city hall, McDonald said that when people talk about improving cities, it is only natural to think of what Realtors(r) bring to the table. "After all, there is no better investment in the economy and in a community than investing in a home. It enhances quality of life and enriches a family's economic future. It is what we're about."

Research shows there is still a lot of room to expand homeownership in cities. "Without reasonable housing opportunities for all first-time homebuyers, those who are working to make our cities better can be forced to find housing elsewhere. That is why NAR took a bold step forward in 2002 by rolling out an ambitious Housing Opportunity Program. It's already enabled nearly 300 state and local Realtor(r) association to put programs in place. Partnering with mayors is a natural step in this process."

NAR and the U.S. Conference of Mayors Council for the New American City formally announced a joint initiative in November 2002 under NAR's new Housing Opportunity Program, designed to improve the availability of housing opportunities for all Americans. The partnership called for a dialogue between national real estate leaders and the nation's mayors on key federal legislative issues, areas of cooperation on the local level to promote investment and affordable housing opportunities for rental and homeownership in urban communities and neighborhoods, and to create "best practices" on how local Realtors(r) and mayors cooperate.

The National Association of Realtors(r) "The Voice for Real Estate," is America's largest trade association, representing more than 972,000 members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at http://realtor.org. This and other news releases are posted in the Web site's "News Media" section under NAR News Releases.