NAR, Mayors Launch Realtor AH Program

The National Association of Realtors and the U.S. Conference of Mayors Council for the New American City have announced the "Realtors Ambassador to Cities" initiative designed to expand urban affordable homeownership opportunities across the country "on a city-by-city basis," NAR said.The first RAC initiative was introduced recently in Memphis, Tenn. It includes an educational campaign that will help raise Realtors' awareness about the housing needs of low- to moderate-income borrowers. The idea for the new affordable housing initiative, based on a partnership between public officials and the private sector, has been in development since September 2003. "The Ambassador to Cities program will help to further expand the relationship between mayors and the people who frequently introduce new citizens to our cities -- Realtors," said James A. Garner, president of the Conference of Mayors. According to the NAR, research shows an increasing need for affordable housing in the country's urban areas, where the NAR and the Conference of Mayors are trying to help create housing opportunities for first-time homebuyers.