National Convention to Focus on Real Estate Policies on Minorities

March 12, 2009 Updated: May 26, 2010

WASHINGTON, D.C.–Asian Real Estate Association of America (AREAA) and the National Association of Hispanic Real Estate Professionals (NAHREP) will jointly host a national convention at the Ritz-Carlton Hotel in Tysons Corner, McLean, Virginia on March 13-14.

The convention will focus on policy issues in the real estate market for minorities. It will also offer panel discussions on current hot topics, such as REO (Real Estate Owned Property), short sale, commercial real estate and working with international investors.

Vice President Joseph Biden has been invited. According to NAHREP President Tim Sandos, Biden is highly interested in attending this convention. One of the Vice President’s priorities is rebuilding America’s middle class, and the real estate market is a key element. If Biden does appear, this convention would be the first minority event the Vice President attends after assuming his post.

James Lockhart, Director of Federal Housing Finance Agency (FHFA), has confirmed speaking at the convention. The majority of the implementation of the U.S. government policy to help homeowners resides with FHFA.

The real estate industry is going through some major restructuring. Power in the industry is consolidating to the government with the nationalization of Fannie Mae and Freddie Mac.

Jim Park, President and CEO of AREAA, encouraged Asian real estate professionals to attend this convention.

“Nobody knows for sure where this economy is going. A lot of people are looking for solutions,” said Park. During the convention, Asian real estate professional will learn insider information not available in the media, Park explained. They will also have the opportunity to have direct dialogue with federal officials.

Government officials can also benefit from these discussions. They need market intelligence and the insights of practitioners in the industry.

Tim Sandos, President of NAHREP, said that the market dynamic has changed much.  Future U.S. government policies will determine how many low income Hispanics will purchase their homes. 

The location of the convention is 13 miles outside of Washington, D.C., and the airport closest is the Washington Dulles International Airport.