Richard F. “Dick” Gaylord is the NATIONAL ASSOCIATION OF REALTORS® 100^th President.  His presidency began officially on November 17^th.  There were more than 2,000 REALTORS® who attended the gala event in Las Vegas.  Gaylord was sworn into office by two California congressional representatives, Representative Adam Schiff and Representative Kevin McCarthy.  The swearing in ceremony was preceded by installation of NAR’s 2008 regional vice presidents by 1999 President Sharon Millett and of the 2008 vice presidents and liaisons by 2001 President Richard Mendenhall.  Gaylord made a commitment to inclusion, expressing his determination that leadership team members participate in all the decision making and activities of his presidency.  Inclusion also means fine tuning NAR’s priorities and processes to reflect current member concerns.  Gaylord plans to spend much of his time at regional and local meetings listening to members and learning first-hand what NAR can do to help them. Concluding the evening, Gaylord returned to his theme of “All Together.”  Quoting Helen Keller, he told the crowd, “I am only one, but I am still one. I cannot do everything, but I can do something.  I will not refuse to do something that I can do.” 

Statistics from one of the meetings were that single women now represent 20 percent of recent buyers, a 50 percent jump in eight years.

• 83 percent of single female home buyers choose single-family homes, rather than condominiums
• Room for growth: the home ownership rate for women is currently 23 percent
• Immigrants represented 40 percent of new household formations between 2000 and 2005
• In the 25-to-34 age group, 20 percent of the population is currently foreign born
• 14 percent of recent buyers are immigrants
• Immigrants put more down, averaging downpayments of 7 percent versus 4 percent of native-born Americans
• Hispanic purchasing power is projected to equal the third largest economy in the hemisphere by 2010
• 72 percent are U.S. citizens.

Brochures available from NAR for REALTORS® are packed with information that may make all the difference to your home buying clients.

Ø  Learn how to avoid foreclosure and keep your home:  This brochure explains the types of mortgages that can place families at risk for significant increases in monthly mortgage payments, offers suggestions for getting help by talking to a REALTOR®, and urges borrowers to work with their lender.

Ø  Shopping for a Mortgage?  Do your homework first:  Help protect your current and prospective clients from predatory loans by giving them this education brochure.  Predatory lenders take advantage of homebuyers, who may then end up with loans that cause undue financial hardship and ultimately foreclosure and even bankruptcy.

Ø  Traditional Mortgages:  Understanding your options:  Today, many lenders are offering specialty mortgages that are more affordable but that carry risk your clients need to fully understand.  As this brochure explains, for most consumers, the traditional fixed-rate mortgage is still the best option.

Ø  Specialty Mortgages: What are the Risks and Advantages? A growing number of homebuyers are choosing new types of specialty mortgages that let them qualify for a larger loan.  This brochure will help your clients assess the risks and advantages of interest-only, negative amortization, payment option ARM, and 40-year mortgages.

Ø  Shopping for a Mortgage? FHA Improvements Benefit You: Your clients will have a better understanding of the usefulness of FHA mortgages after reading this brochure.  There are dramatic improvements to the application process for FHA-insured mortgages, but the best features of FHA remain the same, including low downpayment requirements and liberal treatment of credit history.