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Get the Facts 11.05.24

Residential Insurance Issues Impacting Homeowners & REALTORS®

Is your clients' insurance at risk? If you’re seeing canceled policies, non-renewals, or steep cost increases for property insurance, you’re not alone. Washington REALTORS® is hosting a webinar to address the mounting challenges in the residential insurance market, particularly in areas affected by wildfires. These shifts are impacting both current homeowners and new homebuyers, posing a significant concern for real estate transactions across the state.
 
Please join us virtually on Thursday, November 21st from 10:00am-11:30am to learn what’s driving these changes and what to expect going forward. Experts from the Office of the Insurance Commissioner, the National Association of REALTORS®, and the insurance industry will provide updates and answer questions. This webinar is critical for REALTORS® looking to stay informed and for homeowners facing insurance difficulties.
 
Learn more about the event & register here today. 

Volunteer with Junior Achievement of Washington State!

Washington REALTORS®, here’s a unique opportunity to make a lasting impact on young lives! Junior Achievement of Washington is seeking volunteers to guide middle and high school students in financial literacy & business skills courses! As a volunteer, you’ll work hands-on in programs like BizTown and Finance Park, where students learn real-world skills to help them thrive in their future careers. Many of these students come from low-to-moderate-income backgrounds, so your participation truly matters.
 
Choose a date that works for you and make a five-hour commitment (typically 9 a.m. - 2 p.m.) to lead and inspire. Just click the SIGN UP HERE link next to your preferred date found at the link below, create an account if you’re new, and you’re all set! 

Sign up Here

Register to Attend Your Regional Town Hall

Do you have questions related to housing issues that are affecting your local area? Use the upcoming Town Hall events to get those questions answered by Washington REALTORS® association staff and leadership!
 
The Regional Town Hall events happening November 18th-19th are designed to connect members in their respective areas to provide an association update, but more importantly, to give members a chance to discuss issues that are affecting them. Learn more and register at the link below! 

Registration closed. 

Honoring Native American Heritage Month 

November is Native American Heritage Month! As REALTORS®, it's important that you know these communities endure higher poverty rates, lower median incomes, and severe housing conditions that far exceed national averages. 

Understanding these issues is important in fostering inclusive and equitable housing opportunities for all your clients. Learn about the important history behind the observance, the housing challenges faced by Native American and Alaska Native communities, and more about recent policy efforts aimed at increasing federal support today at the link below. 

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First-Time Home Buyers Shrink to Historic Low of 24% as Buyer Age Hits Record High

NAR recently published its 2024 Profile of Home Buyers and Sellers which brought significant shifts in the U.S. housing market to light. First-time buyers now make up just 24% of the market, down from 32% last year, while median buyer income, age, and down payments have reached record highs. The report shows a rising trend in cash purchases, multigenerational living, a reliance on real estate professionals, and more. 
 
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Legal Hotline Q&A of the Week  

11.05.24 Q&A