Vail Board of Realtors supports bill | VailDaily.com

Vail Board of Realtors supports bill

Daily staff report
newsroom@vaildaily.com

FRISCO — Representatives from the Vail Board of Realtors attended a public meeting in Frisco May 30 to show support for a new bill being sponsored by U.S. Rep. Jared Polis. The bill, called the Affordable Housing Regulation Simplification Act, is aimed at removing burdensome restrictions placed on condominium financing by Fannie Mae, Freddie Mac and the Federal Housing Administration.

The bill aims to improve the housing market in high tourism areas like the Vail Valley by making financing more readily available for local buyers. These local buyers represent the valuable workforce necessary for a strong economy, and easing restrictions will open up affordable purchasing options closer to where they work, where they send their children to school, and reduce the amount of time and money spent commuting, the Vail Board of Realtors said.

Polis believes that the bill will be signed in 2014 and expects bi-partisan cooperation as he and other sponsors seek support from congressmen representing areas with large tourism economies including other mountain resort communities and beachfront communities.

For more information about the Vail Board of Realtors, call Amy Reid at 970-766-1031. The Vail Board of Realtors is a professional membership organization dedicated to the successful practice of the real estate profession.