Inside this issue
  LEGAL VIDEO: Riddled with Resales  

The video in the adjacent link examines a recent popular topic on the Legal Information Line - Resales. Watch this short legal video with Nevada REALTORS Legal Information Line Counsel Christal Keegan, who discusses unit owner obligations to supplement the original resale package and identifies timelines for that review period.  Click here to watch the video.  You can also read the resales article penned by the NVR Legal staff by clicking here

If you have any questions, please contact the Legal Information Line: via email at InfoLine@NVRealtors.orgby phone at 800-748-6999, or check out our new feature to connect with an attorney! Members can now schedule a phone call with real time access to attorneys' schedules here: Calendly - NVR Legal Information Line



  Middle-income households gain $2.1 trillion in housing wealth over past decade  

Homeownership is widely recognized as the leading source of net worth among families. Housing wealth itself is primarily achieved by price appreciation gains, and the nation has seen home prices accelerate at a record pace during the course of the last decade.

A new study from the National Association of Realtors® - Housing Wealth Gains for the Rising Middle-Class Markets - examines the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas.

NAR found that during those 10 years, nearly 980,000 middle-income households became homeowners. Within that timeframe, total housing wealth for this income group surged by $2.1 trillion. Click here to read more.



  Congress passes spending bill with major housing wins  

NFIP gets back in new bill as well

Congress passed a long-awaited bill late Thursday night to fund the government through the remainder of the fiscal year, sending it to President Joe Biden for his signature. The $1.5 trillion bipartisan package keeps the government running through Sept. 30 and includes money for priorities the National Association of REALTORS® supports, such as housing programs, rural broadband, and surface transportation projects. The bill also reauthorizes the National Flood Insurance Program (NFIP).

Since last October, the government has relied on a series of short-term funding extensions while Congress worked toward a long-term deal. Click here to read some highlights of NAR priorities in the bill.



  NAR opens 2023 committee application process  

REALTOR® members can apply to a 2023 Committee and help shape the direction of the National Association of REALTORS®. Now through May 13, members may submit their applications in order to be considered for a committee leadership or member position. 

NVR members are encouraged to submit multiple applications (up to five) in order to be considered for all committees they have an interest in serving on. However, members will only receive one appointment, per current policy. Applications are compiled for review by NAR Officers during the NAR committee selection process.

To the extent possible, the composition of committees shall be representative of the general membership. While broad-based representation is desirable, this should not be construed as limiting the president from appointing the most knowledgeable and competent individuals available to serve on committees. Click here to apply for an NAR committee.



  Things first-time home sellers often get wrong  

The housing market is a sizzling seller's game at the moment, where homes stand to spark bidding wars and sell for sky-high prices. All in all, this is great news for sellers-yet with soaring prices and high expectations come a whole new set of possible pitfalls that could trip up inexperienced sellers, particularly if they're selling for the first time.

Curious how you might risk ruining a good thing? We asked some real estate experts to identify what many first-time home sellers get wrong when listing their home today. Click here to read more on what those experts had to say ...