The DeLois Smith All Star Team, Realtors® just returned from the National Association of Realtors Convention where 18,054 Realtors were in attendance. Throughout the four days in Orlando, they attended many informative lectures and discussions regarding real estate and the housing industry. One of the most interesting events attended on opening day was the Economic Forum. Lawrence Yun, PhD; Chief Economist of the NAR and Mark Vitner; Managing Director and Senior Economist of Wells Fargo presided over the meeting. It was generally agreed that inflation would remain low through 2013 and 2014. As inflation plays a major role in determining interest rates, this is great news for anyone looking to buy a home because interest rates will also remain historically very low. It is generally agreed that housing demand is up, sales are up, and available inventory is down. All of this means that although we have been in a strong buyer’s market, the pendulum is swinging more to the middle between buyers and sellers as inventory declines.

Therefore, there’s no time like the present to sell a home. It was also stressed that with a fair amount of continuing market uncertainty, the rental market continues to be an excellent area for investors to concentrate. The housing recovery will be slow so long as the job market remains weak. Washington remains indecisive, but change is coming. One concern voiced throughout the convention was the pending implementation of the Dodd-Frank legislation and the effect it will have on the mortgage industry. Another major concern is home mortgage interest deductions and how they will be affected as a part of the overall anticipated revamping of the tax codes. “The DeLois Smith Team returned from Orlando recharged and with valuable knowledge and insight as to how to succeed in building our business. Our investment in sending so many of our team members to Orlando is needed due to the complexity of today’s real estate market,” said Associate Broker Adam Watkins. “Our commitment to our clients and community is for our team members to obtain the highest level of educational enrichment possible.” Team members attending the convention in Orlando were: Adam Watkins, DeLois Smith, Lavon Smith, Brenda Blackwell, Linda Seifert, Dennis Baum, Wendy Gay, Jerron Carney, Jennifer Beightol, Andrew Bird, Josh Bellew, and our newest team member, Debra Pace.