Advocacy News
SPAAR advocates for you and your business.
Our Government Affairs team works to make sure both REALTORS® and homeowners are represented in government.
In addition, the Government Affairs Committee works to expand the Association’s sphere of influence in local, regional, state and national public policy areas focusing on issues affecting communities throughout the Association’s jurisdiction.
Compliance sought for St. Paul’s smoking disclosure ordinance
The Non-Smokers Association is seeking compliance about the changes made for smoking disclosure in St. Paul that have been in effect since January 1, 2022. Since the effective date 18 months ago, there have been approximately 500 sales of condos and townhomes in St. Paul, yet very few disclosures in comparison to the number of properties.
SPAAR and the City of Woodbury discuss the city’s Down Payment Assistance program
SPAAR and the City of Woodbury are working together to share information about a Down Payment Assistance program.
FHFA rescinded its proposed LLPA changes
On May 10, 2023, the Federal Housing Finance Agency (FHFA) rescinded its proposed loan level pricing adjustment (LLPA) upfront fee on borrowers with debt-to-income ratios greater than 40 percent that was slated to go into effect August 1.
NAR Midyear legislative meeting recap
Realtors® from Minnesota had a full week at the National Association of REALTORS® Midyear legislative meetings last week, May 6-11.
Woodbury Down Payment Assistance Q & A
Join SPAAR’s Government Affairs Directors for a Question & Answer session with Woodbury’s Community Development Director, Jamie Fritz, on Thursday, June 1, at 10am via zoom.
Act Now for First-Generation Homebuyers Down Payment Assistance Fund
Act today to tell Minnesota Legislators how important this initiative is for first-generation homebuyers in Minnesota.
Advocacy Report – April 2023
Nationally, existing home sales jumped 14.5% month-over-month as of last measure, the first monthly gain in 12 months, and representing the largest monthly increase since July 2020, according to the National Association of Realtors® (NAR).Advocacy Report – March 2023
In its continued effort to curb inflation, the Federal Reserve raised its benchmark interest rate in February by a quarter-percentage point to 4.50% - 4.75%, its 8th rate hike since March of last year, when the interest rate was nearly zero.