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 PBOR Market Brief
The Paulding Board of REALTORS® (PBOR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Paulding Board of REALTORS®
The Paulding Board of REALTORS® (PBOR) has been an instrumental factor in the growth of real estate in Paulding County, Georgia for more than a decade. PBOR 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 First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.