Federal Issues
National Flood Insurance Program (NFIP) Set To Expire On September 30th.
September 14, 2023
As you know, the NFIP provides hundreds of thousands of dollars of flood coverage where required for a federally backed mortgage. Once again, the program will expire on September 30, 2023 unless Congress agrees to another extension.
Currently, NAR is asking for the longest extension possible and is coordinating with a broad coalition of industry groups to support a long-term reauthorizationg and reform measure. If Congress does not extend the program, the NFIP cannot sell new or renew flood insurance policies after 11:59 pm est. on September 30, 2023.
NAR has prepared FAQs about NFIP reauthorizations, what a lapse could mean for upcoming closings, and several proactive steps your clients can take in the meantime.
About the GRBOR Market Brief
The Greater Rome Board of REALTORS® (GRBOR) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS).For more information on details of this month's report, please contact the Board at 404.845.4025.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Greater Rome Board of REALTORS®
The Greater Rome Board of REALTORS® (GRBOR) has been an instrumental factor in the growth of real estate in Floyd County, Georgia for more than a decade. GRBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About Georgia Multiple Listing Service
Since 1962 Georgia MLS has been providing real estate professionals with exceptional service, proven technology solutions, and unmatched value. With a laser-sharp focus on making the day-to-day tasks of our MLS subscribers more functional, more productive, and more profitable, we continue to implement the service blueprint that has led to our continued growth. For additional information or to start a discussion about how to partner with GAMLS please contact georgiamls@gamls.com.