Certificates for the free class are being mailed so if you paid your dues in full by December 15th, keep watching the mail for yours! As a reminder, in order to receive your free class, you must present the certificate to receive the discount!
The 2010 Lunch & Learn Schedule has been basically set:
Date Topic*
Thursday, January 28 Procuring Cause: Unraveling the Mystery
Thursday, February 25 Getting in Good Form - Filling Out the RE-21
Wednesday, March 10 The Arbitration Alternative: Avoiding Costly Lawsuits
Wednesday, March 31 Real Estate Marketing in the Age of Social Media
Thursday, April 29 Understanding the "Ps and Qs"
Wednesday, May 26 The Ins and Outs of Home Inspections
Wednesday, June 9 An Overview of the Title and Escrow Process
Wednesday, June 30 Understanding Your New Buyers: Marketing to Generation 'Y'
Thursday, July 29 Prizes, Incentives, and Gifts: The 3-Legged Stool
Wednesday, August 25 Using Real Estate and Related Investments Inside IRAs & Other Qualified Plans
Thursday, September 9 Real Estate Marketing in the Age of Social Media
Wednesday, September 29 Getting in Good Form - Filling Out the RE-21
Wednesday, October 27 Procuring Cause: Unraveling the Mystery
Thursday, November 14 The Ins and Outs of Home Inspections
Thursday, December 16 Selling in a Historic District
Wednesday, December 29 The Arbitration Alternative: Avoiding Costly Lawsuits
*Topics Subject to Change
Thank you for your amazing participation and we'll continue to develop new ways to better serve your needs!
Happy Holidays!
Monday, December 21, 2009
Wednesday, December 16, 2009
Employer Assisted Housing (EAH) The Smart Right Thing to Do
Later today members of ACAR's Home From Work Task Force will be presenting our version of Home From Work (called Welcome Home Idaho) to the Boise Metro Chamber. Not to a monthly membership meeting, but to the staff management as an HR benefit for Chamber employees.
What's "Welcome Home Idaho"? ...Thanks for asking....Welcome Home Idaho is one of our critical initiatives for 2010.
"Welcome Home Idaho" is a sure fire way to make our Valley more attractive to employers considering expansion or relocation. Its a guaranteed way to increase responsible home ownership among an employee base. Its a proven way to connect HUD partner agencies (like NHS or IHFA) to people needing home ownership assistance.
Based on the successful HOPE Foundation program in Las Vegas, Welcome Home Idaho prepares REALTORS to help people who are interested in purchasing their first home, but don’t know how to get started or who to trust.
Over the course of two training sessions, HOPE Foundation founder Dawn Lane has trained nearly 50 Valley REALTORS in the Home From Work Essentials.
Last week, during the Bringing Workers Home Housing Summit, NAR Regional VP Jim Johnston addressed the conference on how/what and why this program is so important for Idaho. Here is an excerpt...
"As you know, American homeowners and homebuyers are facing some tough challenges today. According to the Harvard Joint Center for Housing Studies’ 2009 State of the Nation’s Housing Report, at last count, nearly 18 million Americans were severely cost burdened (paying more than 50% of their income on housing). But I’ve learned over the years that great challenges also present great opportunities—opportunities for innovation and creative solutions.
Employer-Assisted Housing, usually referred to as EAH, is one of those solutions; it can help address the housing issues of today’s workforce through a broad range of creative models. By implementing even the most basic EAH benefit, employers can have a positive impact on both their employees and their community.
For employees an EAH benefit can mean: the opportunity to own a home of their own for the first time; more time to spend with their family if they buy a home close to their jobs; and safety and security for their family over the long-term. Despite the challenges, homeownership continues to be one of the best long-term financial investments a person can make. In fact, it is the primary way most families build wealth.
And, there are other more immediate benefits to both homeowners and the community. Studies show that children of homeowners do better in school, and homeowners are more active in their communities.
And let’s remember, Housing Education, a core element of an EAH benefit program, is key to ensuring that prospective buyers are well-informed about the process and understand the financial commitment and responsibility of buying a home."
Read the rest of the Jim's remarks.
Overe the next months we will be bringing you more information about this and other REALTOR programs that will continue our Valley's economic recovery.
What's "Welcome Home Idaho"? ...Thanks for asking....Welcome Home Idaho is one of our critical initiatives for 2010.
"Welcome Home Idaho" is a sure fire way to make our Valley more attractive to employers considering expansion or relocation. Its a guaranteed way to increase responsible home ownership among an employee base. Its a proven way to connect HUD partner agencies (like NHS or IHFA) to people needing home ownership assistance.
Based on the successful HOPE Foundation program in Las Vegas, Welcome Home Idaho prepares REALTORS to help people who are interested in purchasing their first home, but don’t know how to get started or who to trust.
Over the course of two training sessions, HOPE Foundation founder Dawn Lane has trained nearly 50 Valley REALTORS in the Home From Work Essentials.
Last week, during the Bringing Workers Home Housing Summit, NAR Regional VP Jim Johnston addressed the conference on how/what and why this program is so important for Idaho. Here is an excerpt...
"As you know, American homeowners and homebuyers are facing some tough challenges today. According to the Harvard Joint Center for Housing Studies’ 2009 State of the Nation’s Housing Report, at last count, nearly 18 million Americans were severely cost burdened (paying more than 50% of their income on housing). But I’ve learned over the years that great challenges also present great opportunities—opportunities for innovation and creative solutions.
Employer-Assisted Housing, usually referred to as EAH, is one of those solutions; it can help address the housing issues of today’s workforce through a broad range of creative models. By implementing even the most basic EAH benefit, employers can have a positive impact on both their employees and their community.
For employees an EAH benefit can mean: the opportunity to own a home of their own for the first time; more time to spend with their family if they buy a home close to their jobs; and safety and security for their family over the long-term. Despite the challenges, homeownership continues to be one of the best long-term financial investments a person can make. In fact, it is the primary way most families build wealth.
And, there are other more immediate benefits to both homeowners and the community. Studies show that children of homeowners do better in school, and homeowners are more active in their communities.
And let’s remember, Housing Education, a core element of an EAH benefit program, is key to ensuring that prospective buyers are well-informed about the process and understand the financial commitment and responsibility of buying a home."
Read the rest of the Jim's remarks.
Overe the next months we will be bringing you more information about this and other REALTOR programs that will continue our Valley's economic recovery.
Tuesday, December 15, 2009
November Homes Sales Increase 100% Over 2008
But then again...November '08 home sales were the lowest (269) in a very long time.
Total homes sold in November were 533; up 98% compared to last year. What a difference 12 months and a Home Buyer Tax Credit makes!
Typically sales in November lessen as the year nears end. Over the last 4 years the average change in sales from October to November is -9%. (This excludes last year's 36% plunge.)
November '09 sales were 9% down from October. Consistent with what we would expect. Pending sales in November were 649.
First time home buyers continue to drive our market. The announcement of the Tax Credit extension and its expansion to include current homeowners should enable us to continue to move in the positive direction. 44% of homes sold in November were <$160,000.
The fundamental demand for housing is driven by jobs. What happens in our employment market will determine how long this modest recovery can continue. Anecdotally...there are signs that some Valley employers are getting stronger. Mandatory overtime, longer hours, reinstatement of pay cuts...all are happening now.
Median home price nudged up 1% from October to $159,700. Existing homes continue to hold their value relatively well. New homes median reversed its downward slide as it increased from $147,390 in October '09 to $149,900 in November.
Inventory has dropped under 3,000 homes for the first time since May of '06. We now have less than 5 months of inventory (existing and new) in our most demanded price category. Likely this is supporting the tenuous grip median sales price is holding to.
Market pace increased in November as days on market fell to 76.
On the less positive side...as you saw in the Statesman yesterday, distressed properties continue to hurt our friends and family. Among all active listings, 46% are either short sales, in foreclosure or REO's. 37% of all November sales were also distressed. Although this less than the 45% we were experiencing last March, it is too high.
Our community offers resources to help families in housing crisis that we sometimes overlook. Neighborhood Housing Service's Foreclosure Prevention Counseling program continues to have a greater than 90% rate of success in helping our neighbors avoid foreclosure. Its completely free to homeowners. Click here for more information and an intake package that must be completed before counseling can begin.
What I'm hearing about December is good. Buyer interest, offer presentations and closings are all up. The key is going to be how supportive our lender partners will be.
Yesterday President Obama chided the banks for poor results in assisting in our recovery...comparing them to "overpaid ball players who've had a bad season". “Given the difficulty that businesspeople are having as lending has declined, and given the exceptional assistance banks received to get them through a difficult time, we expect them to explore every responsible way to help get our economy moving again.”
Total homes sold in November were 533; up 98% compared to last year. What a difference 12 months and a Home Buyer Tax Credit makes!
Typically sales in November lessen as the year nears end. Over the last 4 years the average change in sales from October to November is -9%. (This excludes last year's 36% plunge.)
November '09 sales were 9% down from October. Consistent with what we would expect. Pending sales in November were 649.
First time home buyers continue to drive our market. The announcement of the Tax Credit extension and its expansion to include current homeowners should enable us to continue to move in the positive direction. 44% of homes sold in November were <$160,000.
The fundamental demand for housing is driven by jobs. What happens in our employment market will determine how long this modest recovery can continue. Anecdotally...there are signs that some Valley employers are getting stronger. Mandatory overtime, longer hours, reinstatement of pay cuts...all are happening now.
Median home price nudged up 1% from October to $159,700. Existing homes continue to hold their value relatively well. New homes median reversed its downward slide as it increased from $147,390 in October '09 to $149,900 in November.
Inventory has dropped under 3,000 homes for the first time since May of '06. We now have less than 5 months of inventory (existing and new) in our most demanded price category. Likely this is supporting the tenuous grip median sales price is holding to.
Market pace increased in November as days on market fell to 76.
On the less positive side...as you saw in the Statesman yesterday, distressed properties continue to hurt our friends and family. Among all active listings, 46% are either short sales, in foreclosure or REO's. 37% of all November sales were also distressed. Although this less than the 45% we were experiencing last March, it is too high.
Our community offers resources to help families in housing crisis that we sometimes overlook. Neighborhood Housing Service's Foreclosure Prevention Counseling program continues to have a greater than 90% rate of success in helping our neighbors avoid foreclosure. Its completely free to homeowners. Click here for more information and an intake package that must be completed before counseling can begin.
What I'm hearing about December is good. Buyer interest, offer presentations and closings are all up. The key is going to be how supportive our lender partners will be.
Yesterday President Obama chided the banks for poor results in assisting in our recovery...comparing them to "overpaid ball players who've had a bad season". “Given the difficulty that businesspeople are having as lending has declined, and given the exceptional assistance banks received to get them through a difficult time, we expect them to explore every responsible way to help get our economy moving again.”
Monday, December 14, 2009
You Can't Do That
This is a good article from Mr. Internet he talks about the "problem solvers" and the "problem avoiders"
There is a (soon-to-be-former) highly paid business consultant of mine that lately seems more interested in telling me what *can’t* be done rather than helping me achieve my goals. Caution is a necessary quality for any successful business person, unless it turns into a brick wall for the sake of not making mistakes.
Henry Ford was told in no-uncertain terms by his top engineers that casting a V-8 engine block was impossible. He responded by literally locking them in a room until they figured it out (you know the rest).
T
here is a huge difference between being a problem solver and a problem avoider. Something happened to this business consultant (who is also a friend). He used to be excited about possibilities and think innovatively. Now his main focus seems to be circling the wagons, figuring you have a better chance of staying alive, even if you don’t go anywhere.
Highly effective people will figure a way around, over or through the “brick walls” that place themselves in the way of every worthwhile endeavor. Don’t expect outsiders to take the ball and run with it. It takes something very special (that each of us have deep inside) to quiet the voice of naysayers…
More than anything else, it is a clear and consistent sense of purpose. When the objective is compelling enough, you will find a workable, effective way to make it happen.
-Ralph Marston
It’s the easiest thing in the world to say that something can’t be done and is a favorite pastime for those content to stay on the sidelines. Ultimately, achieving any goal or pursuing any worthwhile endeavor is totally up to you. Just remember that your deeply held sense of purpose is your shield that will protect you from the slings and arrows of those who haven’t found theirs yet.
There is a (soon-to-be-former) highly paid business consultant of mine that lately seems more interested in telling me what *can’t* be done rather than helping me achieve my goals. Caution is a necessary quality for any successful business person, unless it turns into a brick wall for the sake of not making mistakes.
Henry Ford was told in no-uncertain terms by his top engineers that casting a V-8 engine block was impossible. He responded by literally locking them in a room until they figured it out (you know the rest).
T
here is a huge difference between being a problem solver and a problem avoider. Something happened to this business consultant (who is also a friend). He used to be excited about possibilities and think innovatively. Now his main focus seems to be circling the wagons, figuring you have a better chance of staying alive, even if you don’t go anywhere.
Highly effective people will figure a way around, over or through the “brick walls” that place themselves in the way of every worthwhile endeavor. Don’t expect outsiders to take the ball and run with it. It takes something very special (that each of us have deep inside) to quiet the voice of naysayers…
More than anything else, it is a clear and consistent sense of purpose. When the objective is compelling enough, you will find a workable, effective way to make it happen.
-Ralph Marston
It’s the easiest thing in the world to say that something can’t be done and is a favorite pastime for those content to stay on the sidelines. Ultimately, achieving any goal or pursuing any worthwhile endeavor is totally up to you. Just remember that your deeply held sense of purpose is your shield that will protect you from the slings and arrows of those who haven’t found theirs yet.
Friday, December 11, 2009
November Sales Show Continuing Recovery!
Preliminary numbers are in for November and they are very solid.
First of all, we have to remember that the announcement of the tax credit extension didn't come until well into November. So, there was real impetus to try to close as quickly as possible...
Total sales are 533 homes. This is nearly a 100% increase compared to November 2008 sales of 269!
Our median sales price held firm at $155,000. This is down 15% from 2008. New home's median actually went up about $2,000 from October.
Days on market is holding at about 84 days. Not much change form '08 or from what we've seen the last few months.
Homes in the price range of <$160,000 accounted for 36% of all sales in November.
The full data set will be available later today. Watch for an updated commentary later.
First of all, we have to remember that the announcement of the tax credit extension didn't come until well into November. So, there was real impetus to try to close as quickly as possible...
Total sales are 533 homes. This is nearly a 100% increase compared to November 2008 sales of 269!
Our median sales price held firm at $155,000. This is down 15% from 2008. New home's median actually went up about $2,000 from October.
Days on market is holding at about 84 days. Not much change form '08 or from what we've seen the last few months.
Homes in the price range of <$160,000 accounted for 36% of all sales in November.
The full data set will be available later today. Watch for an updated commentary later.
Wednesday, December 9, 2009
Young Professionals Social Hour
The Young Professionals are having a Social Hour TODAY for December. Join us for drinks at the Barbacoa in Boise. Get Directions
We'll be there from 4pm to around 6pm, getting drinks and getting to know each other! Expand your network!
We'll be there from 4pm to around 6pm, getting drinks and getting to know each other! Expand your network!
Tuesday, December 8, 2009
I Missed You Too...
I feel terrible...my last post was 5 days ago...when I came to log in, security said, 'Oh sure, now you want to come back." The thing is, last week was so amazingly active, we didn't slow down enough to write.
Last week in Boise we had a confluence of Real Estate Leadership, Policy and Futurism.
Alice Martin, NAR VP for Leadership Development, did not 1, but 2 days of contemporary leadership coaching. On Tuesday for association exec's it was 6 hours on how to best apply lesser know NAR resources to help with current organizational challenges.
On Wednesday more than 50 volunteer leaders from IAR, Caldwell AOR, Nampa AOR, WCR and ACAR jammed the IAR conference center learning "Lessons in Executive Leadership from Abraham Lincoln". All I can say is "hold on" there's 50 new sheriffs in town all wanting to make next year the best ever.
Thursday morning the marquee at the Center on the Grove read "National Housing Conference"...right here in Boise. NAR contacted our own Miguel Legarreta to host the national "Bringing Workers Home" conference for more than 150 housing professionals from the Pacific Northwest. NAR Region 12 VP, Jim Johnson kicked off the event with compelling numbers demonstrating the need for a coalition of business community and government leaders to answer our need for sustainable housing opportunity. Mayor Bieter spoke next about Boise and the Valley and what's coming next in their eyes. He reminded us that Boise is the 3rd largest city in the Northwest...when did that happen?
Thursday night we said "Thank you" to Russ Dane for his leadership this year and welcomed Jim Paulson as 2010 President. Joining Jim for installation by Julie DeLorenzo, IAR 2010 President, were Pres-Elect Laurie Barrera, VP Kit Fitzgerald, reelected Director Eric Jensen and new Directors Dave Ferguson and Wendy Alexandre. Just a note...we used Life's Kitchen to supply the food. We got great food at a great price and in the process continued to support one of our REALTOR's Community Foundation partners.
Friday morning came pretty early to 50 REALTORS singed up for Dawn Lane's "Home From Work" program. Want to know how Boise can beat Denver in the next employer solicitation...this is the answer. Dawn explained how REALTORS can work directly with employers to help establish EAH programs that improve the lives of everyone. This was the second time Dawn taught this program here. The first class, six months ago, drew maybe 10. This time 60 signed up! We will be offering the program in its new 2010 form in the spring. Stay tuned.
Whew...Glad to get all that out.
Thanks to everyone who helped put last week together. It was a huge week-long production and you pulled it off brilliantly.
With just a few weeks left this year, we're wrapping up projects and planning 1st qtr events. Before you know it the Circle of Excellence Banquet will be upon us...and it will sell out like it did last year. Stay tuned.
Last week in Boise we had a confluence of Real Estate Leadership, Policy and Futurism.
Alice Martin, NAR VP for Leadership Development, did not 1, but 2 days of contemporary leadership coaching. On Tuesday for association exec's it was 6 hours on how to best apply lesser know NAR resources to help with current organizational challenges.
On Wednesday more than 50 volunteer leaders from IAR, Caldwell AOR, Nampa AOR, WCR and ACAR jammed the IAR conference center learning "Lessons in Executive Leadership from Abraham Lincoln". All I can say is "hold on" there's 50 new sheriffs in town all wanting to make next year the best ever.
Thursday morning the marquee at the Center on the Grove read "National Housing Conference"...right here in Boise. NAR contacted our own Miguel Legarreta to host the national "Bringing Workers Home" conference for more than 150 housing professionals from the Pacific Northwest. NAR Region 12 VP, Jim Johnson kicked off the event with compelling numbers demonstrating the need for a coalition of business community and government leaders to answer our need for sustainable housing opportunity. Mayor Bieter spoke next about Boise and the Valley and what's coming next in their eyes. He reminded us that Boise is the 3rd largest city in the Northwest...when did that happen?
Thursday night we said "Thank you" to Russ Dane for his leadership this year and welcomed Jim Paulson as 2010 President. Joining Jim for installation by Julie DeLorenzo, IAR 2010 President, were Pres-Elect Laurie Barrera, VP Kit Fitzgerald, reelected Director Eric Jensen and new Directors Dave Ferguson and Wendy Alexandre. Just a note...we used Life's Kitchen to supply the food. We got great food at a great price and in the process continued to support one of our REALTOR's Community Foundation partners.
Friday morning came pretty early to 50 REALTORS singed up for Dawn Lane's "Home From Work" program. Want to know how Boise can beat Denver in the next employer solicitation...this is the answer. Dawn explained how REALTORS can work directly with employers to help establish EAH programs that improve the lives of everyone. This was the second time Dawn taught this program here. The first class, six months ago, drew maybe 10. This time 60 signed up! We will be offering the program in its new 2010 form in the spring. Stay tuned.
Whew...Glad to get all that out.
Thanks to everyone who helped put last week together. It was a huge week-long production and you pulled it off brilliantly.
With just a few weeks left this year, we're wrapping up projects and planning 1st qtr events. Before you know it the Circle of Excellence Banquet will be upon us...and it will sell out like it did last year. Stay tuned.
Monday, November 30, 2009
Remembering Basic Courtesies
More and more I am getting calls from agents about other agents who seem to be forgetting some basic rules of courtesy and safety!
As business starts to pick up, you may find that your time is getting harder and harder to schedule. No matter how busy, frazzled, or frenzied you are, don't forget the lessons that you learned when you first entered the business:
1) Avoid letting clients into properties if you won't be accompanying them - Several of the calls I've received are from an angry or irritated listing agents who stumbled across buyers who "let themselves" into the property. This is especially frequent with vacant and REO properties that have combination lockboxes. Just because a home is unoccupied doesn't mean that anyone can come in.
Never give your clients the combination to a lockbox. You don't know when they will access the property or how many times. You may be liable if damages or theft occurs. If you are too busy to meet them at the property, have a trusted colleague or co-worker assist your clients until you are available. (In the 2010 REALTOR® Code of Ethics, allowing someone unauthorized access to a lockbox or property will be a violation of Article 1!)
2) Don't let your clients move in until everything is recorded and funded - Just because your clients have signed all the documents doesn't mean the house is theirs. I am hearing that clients are moving into houses and making changes to the property before the sale has recorded. This is (again) happening frequently with REOs.
It belongs to the bank until everything is final. Accessing and changing things without the owner's [re: the bank's] permission is considered trespassing. If your clients start changing things (paint, peeling up carpet, fixing things) and something happens, there is legal liability.
If you are the one giving them the keys early, you could be liable as well. Just because the keys are in the lockbox doesn't mean you have the authority to provide them to the new homeowner. Homeowners will get keys when everything is final and they need to wait for that.
Advise your clients who are getting appointments lined up (such as cable hook ups or appliance delivery) to wait to schedule those until the property has changed ownership. It it tempting to have it all lined up for the day after "closing" but just in case of delays in recording, wait for everything to be final. Some of the new lending standards can cause delays in paperwork as well and having appointments scheduled so tightly can really cause problems. Your clients may ask you to let them in early and you don't want to put yourself in that position!
Besides those, remember basic things - call before you show a property (even if it says 'vacant' on the MLS listing!) - leave your card after showing - if you can't make an appointment or will be late, let them know - be professional in all you do: what you say, how you act, how you treat others.
Good luck and be safe!
As business starts to pick up, you may find that your time is getting harder and harder to schedule. No matter how busy, frazzled, or frenzied you are, don't forget the lessons that you learned when you first entered the business:
1) Avoid letting clients into properties if you won't be accompanying them - Several of the calls I've received are from an angry or irritated listing agents who stumbled across buyers who "let themselves" into the property. This is especially frequent with vacant and REO properties that have combination lockboxes. Just because a home is unoccupied doesn't mean that anyone can come in.
Never give your clients the combination to a lockbox. You don't know when they will access the property or how many times. You may be liable if damages or theft occurs. If you are too busy to meet them at the property, have a trusted colleague or co-worker assist your clients until you are available. (In the 2010 REALTOR® Code of Ethics, allowing someone unauthorized access to a lockbox or property will be a violation of Article 1!)
2) Don't let your clients move in until everything is recorded and funded - Just because your clients have signed all the documents doesn't mean the house is theirs. I am hearing that clients are moving into houses and making changes to the property before the sale has recorded. This is (again) happening frequently with REOs.
It belongs to the bank until everything is final. Accessing and changing things without the owner's [re: the bank's] permission is considered trespassing. If your clients start changing things (paint, peeling up carpet, fixing things) and something happens, there is legal liability.
If you are the one giving them the keys early, you could be liable as well. Just because the keys are in the lockbox doesn't mean you have the authority to provide them to the new homeowner. Homeowners will get keys when everything is final and they need to wait for that.
Advise your clients who are getting appointments lined up (such as cable hook ups or appliance delivery) to wait to schedule those until the property has changed ownership. It it tempting to have it all lined up for the day after "closing" but just in case of delays in recording, wait for everything to be final. Some of the new lending standards can cause delays in paperwork as well and having appointments scheduled so tightly can really cause problems. Your clients may ask you to let them in early and you don't want to put yourself in that position!
Besides those, remember basic things - call before you show a property (even if it says 'vacant' on the MLS listing!) - leave your card after showing - if you can't make an appointment or will be late, let them know - be professional in all you do: what you say, how you act, how you treat others.
Good luck and be safe!
Monday, November 23, 2009
Smart Growth Principles and Attracting Young Professionals to Boise
The Idaho Business Review published a terrific article today about attracting young professionals to Boise and how important the Principles of Smart Growth are to these residents. Take a look! http://tinyurl.com/yfdstas
Kit Fitzgerald
Red Barn Real Estate
Kit Fitzgerald
Red Barn Real Estate
NAR RESPA Seminar Available on Realtor.org
NAR's RESPA Realities seminar, recently presented at the NAR 2009 Annual Convention and Expo in San Diego, is now available on Realtor.org.
National RESPA expert, Phil Schulman, a partner at the Washington, D.C. law firm of K&L Gates, discussed the new RESPA rule with a focus on what practitioners will need to know to comply with the new mandatory Good Faith Estimate and HUD-1 forms which go into effect on January 1, 2010.
NAR members may log-in to Realtor.org and go to the "RESPA Realities" page to download Mr. Schulman's PowerPoint slides. An audio recording of the session will also be available on the RESPA Realities page in the near future.
HUD FAQs dated November 19, 2009 >
Contacts: Scott Rinn, 202-383-7508 Contacts: Marcia Salkin, 202-383-1092 Contacts: Kenneth Trepeta, 202-383-1294
National RESPA expert, Phil Schulman, a partner at the Washington, D.C. law firm of K&L Gates, discussed the new RESPA rule with a focus on what practitioners will need to know to comply with the new mandatory Good Faith Estimate and HUD-1 forms which go into effect on January 1, 2010.
NAR members may log-in to Realtor.org and go to the "RESPA Realities" page to download Mr. Schulman's PowerPoint slides. An audio recording of the session will also be available on the RESPA Realities page in the near future.
HUD FAQs dated November 19, 2009 >
Contacts: Scott Rinn, 202-383-7508 Contacts: Marcia Salkin, 202-383-1092 Contacts: Kenneth Trepeta, 202-383-1294
HUD Announces 120-day Period of Restraint in Enforcement of New RESPA Rule
On Friday, November 13, 2009, the Department of Housing and Urban Development (HUD) announced a period of "restraint" in enforcing the new Real Estate Settlement Procedures Act (RESPA) rule, which will go into effect on January 1, 2010. The period of restraint will last for 120 days.
Enforcement restraint will be shown for FHA approved lenders acting in good faith to comply with the new rule, including the mandatory Good Faith Estimate and the HUD-1. HUD also asked other federal and state enforcement agencies to exercise restraint. HUD Secretary Shaun Donovan stated: "While we will not delay implementation of RESPA's new requirements, we are sensitive to the concerns of the industry as it integrates the new rules into their day-to-day business practices."
Contacts: Scott Rinn, 202-383-7508 Contacts: Marcia Salkin, 202-383-1092 Contacts: Kenneth Trepeta, 202-383-1294
Enforcement restraint will be shown for FHA approved lenders acting in good faith to comply with the new rule, including the mandatory Good Faith Estimate and the HUD-1. HUD also asked other federal and state enforcement agencies to exercise restraint. HUD Secretary Shaun Donovan stated: "While we will not delay implementation of RESPA's new requirements, we are sensitive to the concerns of the industry as it integrates the new rules into their day-to-day business practices."
Contacts: Scott Rinn, 202-383-7508 Contacts: Marcia Salkin, 202-383-1092 Contacts: Kenneth Trepeta, 202-383-1294
Thursday, November 19, 2009
NAR Survey Shows First-Time Home Buyers Set Record in Past Year
San Diego, November 13, 2009
First-time home buyers reached the highest market share on record during the past year, according to the latest consumer survey of home buyers and sellers. The study was released here today at the 2009 REALTORS® Conference & Expo.
The 2009 National Association of Realtors® Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys evaluating demographics, preferences, marketing and experiences of recent home buyers and sellers. Among national surveys, NAR’s Profile of Home Buyers and Sellers is unprecedented in size and scope.
Paul Bishop, NAR vice president of research, said several factors have been at play. “Tax incentives, record high affordability conditions and a pent-up demand brought a record share of first-time home buyers into the market,” he said. “These buyers are critical to housing and a general economic recovery because the market always heals from the bottom up – they absorb inventory, free existing owners to make a trade and stimulate related goods and services.”
The number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year’s study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991. “It’s interesting to note the last cyclical peak of first-time home buyers was during the last noteworthy economic downturn, with first-time buyers starting the chain reaction that led the nation out of recession,” Bishop said.
Read the rest of the story
First-time home buyers reached the highest market share on record during the past year, according to the latest consumer survey of home buyers and sellers. The study was released here today at the 2009 REALTORS® Conference & Expo.
The 2009 National Association of Realtors® Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys evaluating demographics, preferences, marketing and experiences of recent home buyers and sellers. Among national surveys, NAR’s Profile of Home Buyers and Sellers is unprecedented in size and scope.
Paul Bishop, NAR vice president of research, said several factors have been at play. “Tax incentives, record high affordability conditions and a pent-up demand brought a record share of first-time home buyers into the market,” he said. “These buyers are critical to housing and a general economic recovery because the market always heals from the bottom up – they absorb inventory, free existing owners to make a trade and stimulate related goods and services.”
The number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year’s study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991. “It’s interesting to note the last cyclical peak of first-time home buyers was during the last noteworthy economic downturn, with first-time buyers starting the chain reaction that led the nation out of recession,” Bishop said.
Read the rest of the story
Forecast Hopeful with First-Time Home Buyers Leading the Way
San Diego, November 13, 2009
Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”
A large consumer study being released later today, the 2009 National Association of Realtors® Profile of Home Buyers and Sellers, shows first-time buyers accounted for a record 47 percent share of home sales over the past year, up from 41 percent in the 2008 survey. The share has risen steadily since a cyclical low of 36 percent in 2006.
Existing-home sales are expected to total 5.01 million in 2009, a gain of 2.0 percent over last year, and then are forecast to rise 13.6 percent to 5.69 million in 2010. “A steady draw down of inventory will help home values to turn positive in 2010, but risks such as unemployment remain in the economy,” Yun said.
New-home sales are projected at 397,000 this year, recovering to 549,000 in 2010. Housing starts, including multifamily units, should total 564,000 units this year but grow to 752,000 in 2010.
The 30-year fixed-rate mortgage will probably average 5.3 percent in the fourth quarter, rising gradually to 5.8 percent by the end of next year. NAR’s housing affordability index will set a record in 2009, averaging 30 percentage points higher than 2008. Affordability will decline from record highs next year but will remain at historically attractive levels for home buyers.
“We’ve seen a steady downtrend in housing inventory for well over a year and home prices appears to be in the early stages of stabilizing. With expansion of the tax credit to additional buyers through the middle of next year, and no major unforeseen events impacting the economy, home prices should rise between 3 and 5 percent in 2010, but with wide geographic differences,” Yun said.
He expects growth in the U.S. gross domestic product to be at a pace of 2.5 percent in the current quarter, with GDP up 2.8 percent in 2010.
The unemployment rate is close to peaking and is projected to ease to 9.5 percent by the end of next year.
“The size of the U.S. budget deficit is a concern going forward, and carries the risk of higher inflation. At this point, that risk appears to be restrained,” Yun said. Inflation, as measured by the Consumer Price Index, is seen contracting 0.4 percent this year, then rising 1.6 percent in 2010. Inflation-adjusted disposable personal income is estimated to grow 0.4 percent this year and 1.2 percent next year.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”
A large consumer study being released later today, the 2009 National Association of Realtors® Profile of Home Buyers and Sellers, shows first-time buyers accounted for a record 47 percent share of home sales over the past year, up from 41 percent in the 2008 survey. The share has risen steadily since a cyclical low of 36 percent in 2006.
Existing-home sales are expected to total 5.01 million in 2009, a gain of 2.0 percent over last year, and then are forecast to rise 13.6 percent to 5.69 million in 2010. “A steady draw down of inventory will help home values to turn positive in 2010, but risks such as unemployment remain in the economy,” Yun said.
New-home sales are projected at 397,000 this year, recovering to 549,000 in 2010. Housing starts, including multifamily units, should total 564,000 units this year but grow to 752,000 in 2010.
The 30-year fixed-rate mortgage will probably average 5.3 percent in the fourth quarter, rising gradually to 5.8 percent by the end of next year. NAR’s housing affordability index will set a record in 2009, averaging 30 percentage points higher than 2008. Affordability will decline from record highs next year but will remain at historically attractive levels for home buyers.
“We’ve seen a steady downtrend in housing inventory for well over a year and home prices appears to be in the early stages of stabilizing. With expansion of the tax credit to additional buyers through the middle of next year, and no major unforeseen events impacting the economy, home prices should rise between 3 and 5 percent in 2010, but with wide geographic differences,” Yun said.
He expects growth in the U.S. gross domestic product to be at a pace of 2.5 percent in the current quarter, with GDP up 2.8 percent in 2010.
The unemployment rate is close to peaking and is projected to ease to 9.5 percent by the end of next year.
“The size of the U.S. budget deficit is a concern going forward, and carries the risk of higher inflation. At this point, that risk appears to be restrained,” Yun said. Inflation, as measured by the Consumer Price Index, is seen contracting 0.4 percent this year, then rising 1.6 percent in 2010. Inflation-adjusted disposable personal income is estimated to grow 0.4 percent this year and 1.2 percent next year.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
RPR and HouseLogic: Projects of Striking Scale
By Robert Freedman, Senior Editor, REALTOR® Magazine
So many announcements are made at NAR’s annual meeting that it’s easy to lose sight of just how trend-shifting some of them are. At the opening forum of the 2009 REALTORS® Conference & Expo in San Diego yesterday, NAR CEO Dale Stinton made back-to-back introductions of two initiatives that stand to define how you’ll do business in the years ahead.
The first is the REALTORS® Property Resource, something NAR leaders first started discussing several years ago then gave the go-ahead about two years ago as part of NAR’s massive Second Century Initiatives.
When it launches in the second quarter of 2010, it will be a database of 147 million parcels of real estate accessible to all REALTORS®. For each parcel you’ll have quantitative data—size, assessment, and so on—plus qualitative data: comments from you and your colleagues on what’s really key about the property.
Any database that has 147 million of anything is a massive resource; when the data consists of the amount and quality of the information that Stinton describes, you really get a sense of its scale. It will put an unprecedented amount of informaton at your fingertips, making you a go-to resource for your customers that would have simply been impossible years ago. If you think about it, it’s exactly the kind of thing that associations should be doing for their members: pooling their resources to undertake massive projects that shift the long-term competitive landscape in their favor. Read more
So many announcements are made at NAR’s annual meeting that it’s easy to lose sight of just how trend-shifting some of them are. At the opening forum of the 2009 REALTORS® Conference & Expo in San Diego yesterday, NAR CEO Dale Stinton made back-to-back introductions of two initiatives that stand to define how you’ll do business in the years ahead.
The first is the REALTORS® Property Resource, something NAR leaders first started discussing several years ago then gave the go-ahead about two years ago as part of NAR’s massive Second Century Initiatives.
When it launches in the second quarter of 2010, it will be a database of 147 million parcels of real estate accessible to all REALTORS®. For each parcel you’ll have quantitative data—size, assessment, and so on—plus qualitative data: comments from you and your colleagues on what’s really key about the property.
Any database that has 147 million of anything is a massive resource; when the data consists of the amount and quality of the information that Stinton describes, you really get a sense of its scale. It will put an unprecedented amount of informaton at your fingertips, making you a go-to resource for your customers that would have simply been impossible years ago. If you think about it, it’s exactly the kind of thing that associations should be doing for their members: pooling their resources to undertake massive projects that shift the long-term competitive landscape in their favor. Read more
HVCC: Bad Code or Badly Implemented Code?
By Robert Freedman, senior editor, REALTOR® Magazine
The Home Valuation Code of Conduct is getting a bad rap for causing what real estate professionals say is a rise in inaccurate appraisals, Alfred Pollard told a packed room of REALTORS® Friday in a risk management-regulatory issues joint forum at the 2009 NAR Conference & Expo in San Diego.
Mark Johnson, chief operating officer of appraisal management company LSI.
Pollard, the general counsel for the Federal Housing Finance Agency (FHFA), said HVCC was released at a time when the economy was in a massive contraction—what he called a systemic event—and that this broader picture has to be taken into consideration when talking about valuation trends. “Concerns [over valuations] might not be 100-percent tied to this code,” he said.
FHFA oversees Fannie Mae and Freddie Mac, which earlier this year adopted HVCC and applied it nationwide in an agreement with the New York attorney general. HVCC expires in late 2010 but the two secondary mortgage market companies can retain all or parts of HVCC going forward.
Nor is it fair to rap all appraisal management companies (AMCs) for handing out valuation assignments to inexperienced or out-of-market appraisers who are willing to work for reduced fees, Mark Johnson, COO of LSI, a big AMC, said at the forum.
Any AMC that lets appraisers work outside their area of geographic competency is violating appraisal standards under USPAP and they should be reported, he said. “I do believe there have been some bad actors,” he said.
The average travel distance of the 20,000 appraisers in his company’s database is eight to 12 miles, he said. Any appraiser who wants to travel more than 25 miles under his company’s policy must explain why and get an OK. “We don’t want guys driving 50 miles,” he said. “We want to get rid of that guy [who goes outside his area of geographic competency].”
Steve White of Keller Williams Realty in Santa Clarita, Calif., and chair of NAR’s Risk Management Committee, said real estate professionals are losing deals because valuations are coming in far below the price agreed upon by the buyer and seller and that the process for getting valuations reconsidered doesn’t work.
Valuations are taking so long that there is no time to get them reconsidered before the deal collapses. What’s more, when real estate professionals try to share comparables or familiarize out-of area appraisers with unique market issues, appraisers say they can’t talk to them.
Pollard and Johnson said there’s nothing in HVCC that prohibits real estate professionals from sharing comparable or other information with appraisers. “You can talk; you just can’t drive them to a value,” said Pollard.
Johnson gave out an e-mail address, nar@lsi-lps.com, that goes directly to him that REALTORS® can use for sending in complaints if they believe one of LSI’s appraisers hasn’t produced a competent valuation or is inappropriately restricting them from sharing information. “Send me the name of the guy and let’s root him out,” he said.
The Home Valuation Code of Conduct is getting a bad rap for causing what real estate professionals say is a rise in inaccurate appraisals, Alfred Pollard told a packed room of REALTORS® Friday in a risk management-regulatory issues joint forum at the 2009 NAR Conference & Expo in San Diego.
Mark Johnson, chief operating officer of appraisal management company LSI.
Pollard, the general counsel for the Federal Housing Finance Agency (FHFA), said HVCC was released at a time when the economy was in a massive contraction—what he called a systemic event—and that this broader picture has to be taken into consideration when talking about valuation trends. “Concerns [over valuations] might not be 100-percent tied to this code,” he said.
FHFA oversees Fannie Mae and Freddie Mac, which earlier this year adopted HVCC and applied it nationwide in an agreement with the New York attorney general. HVCC expires in late 2010 but the two secondary mortgage market companies can retain all or parts of HVCC going forward.
Nor is it fair to rap all appraisal management companies (AMCs) for handing out valuation assignments to inexperienced or out-of-market appraisers who are willing to work for reduced fees, Mark Johnson, COO of LSI, a big AMC, said at the forum.
Any AMC that lets appraisers work outside their area of geographic competency is violating appraisal standards under USPAP and they should be reported, he said. “I do believe there have been some bad actors,” he said.
The average travel distance of the 20,000 appraisers in his company’s database is eight to 12 miles, he said. Any appraiser who wants to travel more than 25 miles under his company’s policy must explain why and get an OK. “We don’t want guys driving 50 miles,” he said. “We want to get rid of that guy [who goes outside his area of geographic competency].”
Steve White of Keller Williams Realty in Santa Clarita, Calif., and chair of NAR’s Risk Management Committee, said real estate professionals are losing deals because valuations are coming in far below the price agreed upon by the buyer and seller and that the process for getting valuations reconsidered doesn’t work.
Valuations are taking so long that there is no time to get them reconsidered before the deal collapses. What’s more, when real estate professionals try to share comparables or familiarize out-of area appraisers with unique market issues, appraisers say they can’t talk to them.
Pollard and Johnson said there’s nothing in HVCC that prohibits real estate professionals from sharing comparable or other information with appraisers. “You can talk; you just can’t drive them to a value,” said Pollard.
Johnson gave out an e-mail address, nar@lsi-lps.com, that goes directly to him that REALTORS® can use for sending in complaints if they believe one of LSI’s appraisers hasn’t produced a competent valuation or is inappropriately restricting them from sharing information. “Send me the name of the guy and let’s root him out,” he said.
FHA Head Praises Realtor Role in Recovery
San Diego, November 15, 2009
Realtors® are the face of the housing market, the focal point of information, involvement and inventory, and the Federal Housing Administration is committed to help them be successful, FHA Housing Commissioner Dave Stevens told more than 1,000 Realtors® at a gathering here today.
“You help to stabilize the community, and without homeownership, there can be no stability in communities,” Stevens said. “Together, we must never let overexuberance overtake the housing market again, and interrupt the housing market and the lives of untold millions of Americans. Our goal must be nothing less than to craft a solid, sustainable housing market, a market with a secure foundation for the future.”
Stevens said he and Shaun Donovan, secretary of the Housing and Urban Development, recognize that the National Association of Realtors has been at the forefront of efforts to address the housing crisis, and he has met with NAR on several occasions to consider their concerns. FHA has taken direct action on a number of those concerns.
Stevens announced that effective Monday, Nov. 16, FHA will no longer require a second appraisal on high-balance loans for properties in declining markets. “We did not find our previous policy to be particularly helpful and were very concerned about the additional burden on lenders and consumers,” Stevens said. He noted the policy change will bring industry alignment, streamline loan processing and reduce costs to consumers.
Read the rest of the story.
Realtors® are the face of the housing market, the focal point of information, involvement and inventory, and the Federal Housing Administration is committed to help them be successful, FHA Housing Commissioner Dave Stevens told more than 1,000 Realtors® at a gathering here today.
“You help to stabilize the community, and without homeownership, there can be no stability in communities,” Stevens said. “Together, we must never let overexuberance overtake the housing market again, and interrupt the housing market and the lives of untold millions of Americans. Our goal must be nothing less than to craft a solid, sustainable housing market, a market with a secure foundation for the future.”
Stevens said he and Shaun Donovan, secretary of the Housing and Urban Development, recognize that the National Association of Realtors has been at the forefront of efforts to address the housing crisis, and he has met with NAR on several occasions to consider their concerns. FHA has taken direct action on a number of those concerns.
Stevens announced that effective Monday, Nov. 16, FHA will no longer require a second appraisal on high-balance loans for properties in declining markets. “We did not find our previous policy to be particularly helpful and were very concerned about the additional burden on lenders and consumers,” Stevens said. He noted the policy change will bring industry alignment, streamline loan processing and reduce costs to consumers.
Read the rest of the story.
Wednesday, November 11, 2009
October Market in Review - Sure is Better Than Last October
After a few pretty tense weeks, REALTORS® succeeded in getting Congress and President Obama to do the right thing on behalf of American homebuyers.
On Friday, November 6, The Home buyer Tax Credit was extended to April 30, 2010 and expanded to include current homeowners (with certain qualifications; see Nov. 5 post for details).
No wonder then, that October sales numbers were strong.
Sales in October were up 7% over September and up a whopping 45% over October ’08. But, to be fair to the memory challenged among us, Oct. ’08 was the month when the consumer confidence was at its lowest; the stock market was crashing and pundits predicted we were entering the next Great Depression.
Month over month sales in ’09 have now been up for 9 out of 10 months. Total sales are up more than 200% from January of this year.
Median price declined from $165,000 to $155,000 in October. Digging into this number a little deeper reveals a couple of interesting points. Existing homes are tenaciously holding on to their value – declining only $2,000 from September to $160,000. At the same time new homes median dropped from $168,990 to $147,390. This is the first time that news homes median has been less than the median for existing homes. There are likely several reasons for such a decline; higher foreclosure and short sales, deep discounting and the trend in new construction is for homes in the lower price range.
Inventory fell to its lowest number since May ’06. Our highest inventory number was 5198 in July ’07. We are nearly one-third less than that record amount. Compared to October ’08 we are 25% less. Translating that into months of inventory on hand; we are at less than 7 months. (combined new and resale). This is 50% reduction from January ’09.We have traditionally defined “market equilibrium” as 6 months of available inventory. In October we are at 6.3 months overall.
Measuring the impact of the first time home buyer tax credit; NAR recently reported that the Tax Credit will result in an additional 1million sales this year. In Ada County, sales of homes under $160,000 account for almost 40% of all sales. This is up 12% from January ’09.In this price category, inventory is even scarcer. Inventory of new homes under $160,000 is at 5 months. Inventory of existing homes under $160,000 is at 4.6 months.Short sales in October were 14% of all sales; down slightly form September. REO sales in October increased to 22%; up 4% from September.
Pending sales continue to forecast a solid future. At the end of September there were 876 pending sales. This is down by about 7% from September.In theory, the expansion of the Tax Credit to current homeowners should enable more move-up buyers.
NAR ‘s Chief Economist, Lawrence Yun told us last month that, because of the incredible affordability and continued low interest rates there are now 5 million more renters that qualify to buy than there were in 2000.
The Tax Credit expires at the end of April…for real this time. Spring will come quickly.
On Friday, November 6, The Home buyer Tax Credit was extended to April 30, 2010 and expanded to include current homeowners (with certain qualifications; see Nov. 5 post for details).
No wonder then, that October sales numbers were strong.
Sales in October were up 7% over September and up a whopping 45% over October ’08. But, to be fair to the memory challenged among us, Oct. ’08 was the month when the consumer confidence was at its lowest; the stock market was crashing and pundits predicted we were entering the next Great Depression.
Month over month sales in ’09 have now been up for 9 out of 10 months. Total sales are up more than 200% from January of this year.
Median price declined from $165,000 to $155,000 in October. Digging into this number a little deeper reveals a couple of interesting points. Existing homes are tenaciously holding on to their value – declining only $2,000 from September to $160,000. At the same time new homes median dropped from $168,990 to $147,390. This is the first time that news homes median has been less than the median for existing homes. There are likely several reasons for such a decline; higher foreclosure and short sales, deep discounting and the trend in new construction is for homes in the lower price range.
Inventory fell to its lowest number since May ’06. Our highest inventory number was 5198 in July ’07. We are nearly one-third less than that record amount. Compared to October ’08 we are 25% less. Translating that into months of inventory on hand; we are at less than 7 months. (combined new and resale). This is 50% reduction from January ’09.We have traditionally defined “market equilibrium” as 6 months of available inventory. In October we are at 6.3 months overall.
Measuring the impact of the first time home buyer tax credit; NAR recently reported that the Tax Credit will result in an additional 1million sales this year. In Ada County, sales of homes under $160,000 account for almost 40% of all sales. This is up 12% from January ’09.In this price category, inventory is even scarcer. Inventory of new homes under $160,000 is at 5 months. Inventory of existing homes under $160,000 is at 4.6 months.Short sales in October were 14% of all sales; down slightly form September. REO sales in October increased to 22%; up 4% from September.
Pending sales continue to forecast a solid future. At the end of September there were 876 pending sales. This is down by about 7% from September.In theory, the expansion of the Tax Credit to current homeowners should enable more move-up buyers.
NAR ‘s Chief Economist, Lawrence Yun told us last month that, because of the incredible affordability and continued low interest rates there are now 5 million more renters that qualify to buy than there were in 2000.
The Tax Credit expires at the end of April…for real this time. Spring will come quickly.
How to Stop People From Secretly Thinking You're Full of Crap
This was an article published on AgentGenius.com. I thought it had some great tips and wanted to pass along:
Their Problem = Who To Trust?
Full of Crap or True Blue Trustworthy? Civilians secretly think Real Estate Agents are full of crapola. The civilian perception is:
1. Real estate agents follow-up and follow-through like Donald Trump combs over, spectacularly irresponsible.
2. Real estate agents behave and screech, “It’s ALL about ME”. ”I’m famous.” ”I’m NUMBER ONE.” ”Dig ME, Dig MY awards, Dig MY bill boards.” ”I exceed your expectations (for egoism and poor performance.)!” Etc.
3. Real estate agents spend more money on their Personal Promotion than property promotion.
4. Real estate agents charge too much and do too little. List it > plant scratched, crooked, rusty framed For Sale sign > shoot lame photos > deliver William (I have no professional training) Hung service > ignore empty Take-One flyer box > run a print ad > lay low till it sells > collect a commission check.
Let’s face it. Civilians think most sales people are full of crap. Who can blame them. We have a ton to overcome. Let’s get started…
Our Problem = Lack Of Trust
Here’s How Untrustworthy Is Created, Reinforced and Forwarded:
1. Dress like you’re on vacation, a hobo or a hooker.
2. Speak in shallow generalities.
3. Demonstrate sloth, ignorance and apathy.
4. Act inconsistent.
5. Never apologize, always make excuses, blame and stay the same.
6. Screech: YOU are NUMBER ONE. Talk about YOU exclusively. Talk more than YOU listen.
7. Act like YOU are the most important person in the room.
8. Take phone calls while engaged with clients.
9. Keep people waiting.
10. Cut corners.
11. Take ka-ka photos with cheap equipment.
12. Create property flyer’s using clashing font styles, garish colors and seat-of-the-pants layout and design.
13. Sprinkle your MLS listing remarks and property promotion materials with uninspiring, overused and misspelled words.
14. Do as little as possible.
MORE>>
How To Stop People From Secretly Thinking You’re Full Of Crap
By Ken Brand on October 19, 2009
Their Problem = Who To Trust?
Full of Crap or True Blue Trustworthy? Civilians secretly think Real Estate Agents are full of crapola. The civilian perception is:
1. Real estate agents follow-up and follow-through like Donald Trump combs over, spectacularly irresponsible.
2. Real estate agents behave and screech, “It’s ALL about ME”. ”I’m famous.” ”I’m NUMBER ONE.” ”Dig ME, Dig MY awards, Dig MY bill boards.” ”I exceed your expectations (for egoism and poor performance.)!” Etc.
3. Real estate agents spend more money on their Personal Promotion than property promotion.
4. Real estate agents charge too much and do too little. List it > plant scratched, crooked, rusty framed For Sale sign > shoot lame photos > deliver William (I have no professional training) Hung service > ignore empty Take-One flyer box > run a print ad > lay low till it sells > collect a commission check.
Let’s face it. Civilians think most sales people are full of crap. Who can blame them. We have a ton to overcome. Let’s get started…
Our Problem = Lack Of Trust
Here’s How Untrustworthy Is Created, Reinforced and Forwarded:
1. Dress like you’re on vacation, a hobo or a hooker.
2. Speak in shallow generalities.
3. Demonstrate sloth, ignorance and apathy.
4. Act inconsistent.
5. Never apologize, always make excuses, blame and stay the same.
6. Screech: YOU are NUMBER ONE. Talk about YOU exclusively. Talk more than YOU listen.
7. Act like YOU are the most important person in the room.
8. Take phone calls while engaged with clients.
9. Keep people waiting.
10. Cut corners.
11. Take ka-ka photos with cheap equipment.
12. Create property flyer’s using clashing font styles, garish colors and seat-of-the-pants layout and design.
13. Sprinkle your MLS listing remarks and property promotion materials with uninspiring, overused and misspelled words.
14. Do as little as possible.
MORE>>
Industry-First Social Networking MasterMind Launched
Read about this today. I know Michael Russer. Very sharp. Realtors have found lots of success in "Mastermind" type groups. I've joined one myself with a group of AE's from Associations like ours.
As I read this, it suggests that there is a cost, but I don't know what it is.
There is a requirement that you be an eTEAM member. I went on the site and read about it, but I'm still not sure of any details.
Give it a look...but keep your eyes open.
Santa Barbara , CA , November 11, 2009 — With social media being recognized as the hottest way of generating business online, Michael Russer (aka Mr. Internet®) of Online Dominance™ has teamed up with Brad Carroll and Bobby Carroll of Dakno Marketing to form a powerful MasterMind group for agents who are seriously focused on boosting transactions.
In an endeavor that changes almost daily, the Social Networking MasterMind Group will be presented with content that puts them ahead of the digital curve during its monthly meetings, as well as the best strategies for using it. This is the first ongoing venue exclusively for top performing real estate professionals to keep up with the latest in this essential trend.
“Far too many agents are given access to tools like social media, often at sizable expense to their brokerages, without understanding how to really use them correctly. They seem like so much fun to play with, but they have no concept how much time and effort is truly required to make social networking effective, resulting in nothing but mounting frustration and hours of time sucked away from productive business. Would you give a teen with a learners permit the keys to your new Ferrari? If so, you’re braver than me!” says Michael Russer.
This sentiment is echoed by top social networker and Vice President of Sales & Marketing at Dakno, Bobby Carroll, who will take the lead in facilitating the MasterMind. “Using social media today is like the California Gold Rush – a few prepared individuals struck it rich, but most laid waste to the landscape. Truth is, you can do more harm to yourself than good if you aren’t properly equipped with the right skills. To experience any measure of success with social networking, real estate professionals must understand these new, ever-changing tools, AND have a plan ready to use them!”
The Online Dominance™ Social Networking MasterMind Group is open to eTEAM Members only. Also, members will be held accountable for implementing what they learn and reporting on the results. To find out more about the Online Dominance Mentoring Program™, or for more information about Michael Russer or to book him as a speaker, call Vickie Smith at 877-977-1188 x81 or email vsmith@russer.com. For more information on Dakno Marketing, contact Bobby Carroll at Bobby@Dakno.com.
As I read this, it suggests that there is a cost, but I don't know what it is.
There is a requirement that you be an eTEAM member. I went on the site and read about it, but I'm still not sure of any details.
Give it a look...but keep your eyes open.
Santa Barbara , CA , November 11, 2009 — With social media being recognized as the hottest way of generating business online, Michael Russer (aka Mr. Internet®) of Online Dominance™ has teamed up with Brad Carroll and Bobby Carroll of Dakno Marketing to form a powerful MasterMind group for agents who are seriously focused on boosting transactions.
In an endeavor that changes almost daily, the Social Networking MasterMind Group will be presented with content that puts them ahead of the digital curve during its monthly meetings, as well as the best strategies for using it. This is the first ongoing venue exclusively for top performing real estate professionals to keep up with the latest in this essential trend.
“Far too many agents are given access to tools like social media, often at sizable expense to their brokerages, without understanding how to really use them correctly. They seem like so much fun to play with, but they have no concept how much time and effort is truly required to make social networking effective, resulting in nothing but mounting frustration and hours of time sucked away from productive business. Would you give a teen with a learners permit the keys to your new Ferrari? If so, you’re braver than me!” says Michael Russer.
This sentiment is echoed by top social networker and Vice President of Sales & Marketing at Dakno, Bobby Carroll, who will take the lead in facilitating the MasterMind. “Using social media today is like the California Gold Rush – a few prepared individuals struck it rich, but most laid waste to the landscape. Truth is, you can do more harm to yourself than good if you aren’t properly equipped with the right skills. To experience any measure of success with social networking, real estate professionals must understand these new, ever-changing tools, AND have a plan ready to use them!”
The Online Dominance™ Social Networking MasterMind Group is open to eTEAM Members only. Also, members will be held accountable for implementing what they learn and reporting on the results. To find out more about the Online Dominance Mentoring Program™, or for more information about Michael Russer or to book him as a speaker, call Vickie Smith at 877-977-1188 x81 or email vsmith@russer.com. For more information on Dakno Marketing, contact Bobby Carroll at Bobby@Dakno.com.
Monday, November 9, 2009
Realtors Property Resource - The Other Side of the Coin?
The following is a blog post from "Notorius Rob"...
On November 6th, at roughly 3:15PM Eastern Standard Time, the National Association of REALTORS declared war on the rest of the real estate industry. To be fair, NAR probably did not realize that it did so. Judging by the initial responses, it doesn’t appear to me that most people see what I saw. But, probably because of my twisted nature and my penchant for focusing on the dark side of human nature, I am predicting nothing short of civil war in the real estate industry going forward unless REALTORS Property Resource (or RPR) in its current form is immediately scrapped.
What brings forth such hyperbole?
RPR, or REALTORS Property Resource, was a project shrouded in secrecy. Brian Larson’s post of October 19th, 2009 is a pretty good pre-unveiling summary of the questions and concerns around RPR. Brian Boero’s initial take is a very decent summary of the post-unveiling. But since Brian is a much nicer, much sunnier, much more positive guy than I am, I believe what you’ll get from Brian is the “Glass Half Full” vision.
Strap in for the darker vision.
http://www.notorious-rob.com/2009/11/07/the-coming-civil-war-in-real-estate-the-rpr-saga-begins/comment-page-1/#comments
Read the rest
On November 6th, at roughly 3:15PM Eastern Standard Time, the National Association of REALTORS declared war on the rest of the real estate industry. To be fair, NAR probably did not realize that it did so. Judging by the initial responses, it doesn’t appear to me that most people see what I saw. But, probably because of my twisted nature and my penchant for focusing on the dark side of human nature, I am predicting nothing short of civil war in the real estate industry going forward unless REALTORS Property Resource (or RPR) in its current form is immediately scrapped.
What brings forth such hyperbole?
RPR, or REALTORS Property Resource, was a project shrouded in secrecy. Brian Larson’s post of October 19th, 2009 is a pretty good pre-unveiling summary of the questions and concerns around RPR. Brian Boero’s initial take is a very decent summary of the post-unveiling. But since Brian is a much nicer, much sunnier, much more positive guy than I am, I believe what you’ll get from Brian is the “Glass Half Full” vision.
Strap in for the darker vision.
http://www.notorious-rob.com/2009/11/07/the-coming-civil-war-in-real-estate-the-rpr-saga-begins/comment-page-1/#comments
Read the rest
Realtors Property Resource
NAR's Second Century Initiatives include the creation of the REALTORS Property ResourceTM (RPR), an online real estate library/archive that will provide real estate professionals with data on every property in the United States.
This initiative will provide access to a national database of real property information and will give real estate professionals the best access to real property information needed to serve their clients and customers. It will include in-depth, trusted information on every parcel of real property including public record information, details of prior transactions, MLS-provided information, zoning information, transfer tax information, and other relevant information.
The initiative will be based on the collaborative efforts of REALTORS® and the real estate community, including MLSs. It will drive development and implementation of data standards and definitions, and will increase the breadth, depth, immediacy and power of real estate information available to REALTORS®.
REALTORS Property Resource™ Fact Sheet > (PDF: 84KB)
For ReferenceThe following resources provide a detailed overview of the initiative from its early stages.
NAR Leadership Team White Paper
This initiative will provide access to a national database of real property information and will give real estate professionals the best access to real property information needed to serve their clients and customers. It will include in-depth, trusted information on every parcel of real property including public record information, details of prior transactions, MLS-provided information, zoning information, transfer tax information, and other relevant information.
The initiative will be based on the collaborative efforts of REALTORS® and the real estate community, including MLSs. It will drive development and implementation of data standards and definitions, and will increase the breadth, depth, immediacy and power of real estate information available to REALTORS®.
REALTORS Property Resource™ Fact Sheet > (PDF: 84KB)
For ReferenceThe following resources provide a detailed overview of the initiative from its early stages.
NAR Leadership Team White Paper
Thursday, November 5, 2009
House and Senate Pass Home Buyer Tax Credit
By a vote of 403-12 the House just passed the Unemployment Extension Bill which contains the Home Buyer Tax Credit.
President Obama will get it...and sign it...tomorrow.
Here's NAR's latest FAQ on the extended and expanded tax Credit.
Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.
Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?
Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.
Question: I am a firsttime homebuyer but was not within the prior income limits at the time I
entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?
Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase,
which is the settlement date. So if the new rules have been signed when you go to settlement,
you should be eligible for the credit (or a portion of the credit if you're within the phaseout
range).
Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I
have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit?
Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.
Question: I owned my home for 10 years, but sold it two years ago year and have been renting
since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?
Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000
and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility.
Question: I am an eligible first time home buyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date ffect me?
Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.
More to Come....
President Obama will get it...and sign it...tomorrow.
Here's NAR's latest FAQ on the extended and expanded tax Credit.
Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.
Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?
Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.
Question: I am a firsttime homebuyer but was not within the prior income limits at the time I
entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?
Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase,
which is the settlement date. So if the new rules have been signed when you go to settlement,
you should be eligible for the credit (or a portion of the credit if you're within the phaseout
range).
Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I
have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit?
Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.
Question: I owned my home for 10 years, but sold it two years ago year and have been renting
since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?
Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000
and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility.
Question: I am an eligible first time home buyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date ffect me?
Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.
More to Come....
Wednesday, November 4, 2009
Senate Passes Tax Credit
The Senate votes 98-0 to extend the Tax Credit. It now goes to the House. Way to go REALTOR(r) Party!!!
Quick Tax Credit Extension Update
The Senate is expected to pass the Unemployment Insurance bill that contains the Homebuyer Tax Credit Extension this evening. The House will take up the Senate passed bill possibly as early as tomorrow, Thursday. The bill will then go to the White House for the President's signature.
Monday, November 2, 2009
Extending the Tax Credit - ALMOST There
The extension and expansion of the homebuyer tax credit is the pending business in the Senate.
After a long week of negotiation on the credit, an agreement on the scope of both expansion and extension has been reached. The extension is part of a larger bill that has not yet gone to a vote, however. A Senate vote on the underlying bill will occur in the Senate during the week of November 1.
The package will then go back to the House. The House is expected to accept the Senate amendments, vote on the package and send it to the President for signature. The underlying bill is an extension of unemployment benefits. Other provisions in the bill include expansion of the net operating loss carryback rules, new requirements for some tax return preparers and noncontroversial provisions that "pay for" these changes. The agreement on the extension and expansion of the credit is as follows:
Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
New anti-fraud limitations are imposed.
The White House has indicated that President Obama will sign the legislation.Call Your Senator >Take Action >Visit www.realtor.org/2009housingtaxcredit >Contacts: Linda Goold, 202-383-1083 Contacts: Samuel Whitfield, 202-383-1131 Contacts: Megan Booth, 202-383-1222
After a long week of negotiation on the credit, an agreement on the scope of both expansion and extension has been reached. The extension is part of a larger bill that has not yet gone to a vote, however. A Senate vote on the underlying bill will occur in the Senate during the week of November 1.
The package will then go back to the House. The House is expected to accept the Senate amendments, vote on the package and send it to the President for signature. The underlying bill is an extension of unemployment benefits. Other provisions in the bill include expansion of the net operating loss carryback rules, new requirements for some tax return preparers and noncontroversial provisions that "pay for" these changes. The agreement on the extension and expansion of the credit is as follows:
Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
New anti-fraud limitations are imposed.
The White House has indicated that President Obama will sign the legislation.Call Your Senator >Take Action >Visit www.realtor.org/2009housingtaxcredit >Contacts: Linda Goold, 202-383-1083 Contacts: Samuel Whitfield, 202-383-1131 Contacts: Megan Booth, 202-383-1222
Wednesday, October 28, 2009
Tax Credit Legislation Discussed in Senate
The tentative tax credit agreement of yesterday has changed. The Senate is still negotiating the terms of the credit and how to proceed. A new agreement on extending and expanding the tax credit has now been introduced as a separate, standalone bill. The Senate voting procedure on this bill is still undecided. It could be voted upon separately from the Unemployment bill or still included, and the timing of the votes is still up in the air. But the good news is that we are still very much in the mix. Stay tuned!
The tentative tax credit agreement of yesterday has changed. The Senate is still negotiating the terms of the credit and how to proceed. A new agreement on extending and expanding the tax credit has now been introduced as a separate, standalone bill. The Senate voting procedure on this bill is still undecided. It could be voted upon separately from the Unemployment bill or still included, and the timing of the votes is still up in the air. But the good news is that we are still very much in the mix. Stay tuned!
Tuesday, October 27, 2009
Tax Credit Extention Getting Closer
This just in from NAR...
FROM: NAR President Charles McMillan,
NAR Government Affairs Senior Vice President Jerry Giovaniello
DATE: 27 October 2009
RE: Tax Credit Extension and Expansion
The United States Senate is expected to vote, later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the Dodd - Lieberman - Isakson Amendment to Extend and Expand the $8,000 First Time Homebuyer Tax Credit.
The Extended and Expanded Tax Credit will contain the following provisions:
Amount: $8,000
Eligibility: ALL HOME BUYERS (Step-up buyers will have to have lived in their current home for SEVEN* years to be eligible)
Income Limits: $125,000 for single filers/$225,000 for joint filers
Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010
*The 7 year ownership requirement is designed to lower the "score" or cost of the tax credit. This is still open to change. The Congressional Budget Office is going to "score" the cost of 3 year and 5 year requirements. We are continuing to push for step-up buyers to be required be in their current home for three year period.
NAR will be monitoring the progress and any potential changes to the bill. NAR will send out a notice when the legislation is voted on tonight--regardless of how late into the night or early into the morning the debate continues.
FROM: NAR President Charles McMillan,
NAR Government Affairs Senior Vice President Jerry Giovaniello
DATE: 27 October 2009
RE: Tax Credit Extension and Expansion
The United States Senate is expected to vote, later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the Dodd - Lieberman - Isakson Amendment to Extend and Expand the $8,000 First Time Homebuyer Tax Credit.
The Extended and Expanded Tax Credit will contain the following provisions:
Amount: $8,000
Eligibility: ALL HOME BUYERS (Step-up buyers will have to have lived in their current home for SEVEN* years to be eligible)
Income Limits: $125,000 for single filers/$225,000 for joint filers
Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010
*The 7 year ownership requirement is designed to lower the "score" or cost of the tax credit. This is still open to change. The Congressional Budget Office is going to "score" the cost of 3 year and 5 year requirements. We are continuing to push for step-up buyers to be required be in their current home for three year period.
NAR will be monitoring the progress and any potential changes to the bill. NAR will send out a notice when the legislation is voted on tonight--regardless of how late into the night or early into the morning the debate continues.
Monday, October 26, 2009
Keeping Busy and Building Your Business
The current market has its challenges in our real estate industry, but I think I have found the silver lining in all of this! Quite simply, I have been keeping busy working on ways to make my business better and more productive. How you ask? The answer: I am more involved in my industry.
I have been taking more classes that are offered at ACAR from our Education Department. I even took a CORE class and I am not due for it this year. But, why not? Our industry is changing so rapidly that I felt it was in my best interest to be more knowledgeable about not only legal but the technology changes & challenges we now face. I took the NAR Green designation class for a new designation that is actually one of my passions.
I bookmark real estate news web sites and make a point to read them daily. I go to other news web sites that give me an overall picture of not only the Treasure Valley but our country. What happens in other states may or may not happen here, but it is invaluable to know before a client or customer asks. And, I visit the NAR web site more often that I ever have before http://www.realtor.org/.
I volunteer more. I have found volunteering for ACAR committees is rewarding, fun, and the networking is fantastic. I enjoy working with other volunteers and the great staff we have at ACAR because I can see, firsthand, the results of our efforts. I could write something about each committee, but I want you to go to our website instead http://www.myacaronline.com/. Take a look. Ask yourself, what is my passion? Figure out what committee would answer that question. Is it Education? Communications? Events that we produce such as Circle of Excellence? REALTOR® Outreach, which works to promote our industry in the community through programs & projects such as Rake Up Boise and Paint the Town? Have you thought about helping on the Agent2Agent committee (this is a fun group!). Do you have the skills for a Budget & Finance committee? Does Political Affairs pique your interest?
I think you get the picture: there are all sorts of opportunities to get involved or further your education, which furthers your career. After all, you never stop learning….and what better way to learn than directly from your industry and your peers!
Laurie Barrera, President Elect 2010
Group One
I have been taking more classes that are offered at ACAR from our Education Department. I even took a CORE class and I am not due for it this year. But, why not? Our industry is changing so rapidly that I felt it was in my best interest to be more knowledgeable about not only legal but the technology changes & challenges we now face. I took the NAR Green designation class for a new designation that is actually one of my passions.
I bookmark real estate news web sites and make a point to read them daily. I go to other news web sites that give me an overall picture of not only the Treasure Valley but our country. What happens in other states may or may not happen here, but it is invaluable to know before a client or customer asks. And, I visit the NAR web site more often that I ever have before http://www.realtor.org/.
I volunteer more. I have found volunteering for ACAR committees is rewarding, fun, and the networking is fantastic. I enjoy working with other volunteers and the great staff we have at ACAR because I can see, firsthand, the results of our efforts. I could write something about each committee, but I want you to go to our website instead http://www.myacaronline.com/. Take a look. Ask yourself, what is my passion? Figure out what committee would answer that question. Is it Education? Communications? Events that we produce such as Circle of Excellence? REALTOR® Outreach, which works to promote our industry in the community through programs & projects such as Rake Up Boise and Paint the Town? Have you thought about helping on the Agent2Agent committee (this is a fun group!). Do you have the skills for a Budget & Finance committee? Does Political Affairs pique your interest?
I think you get the picture: there are all sorts of opportunities to get involved or further your education, which furthers your career. After all, you never stop learning….and what better way to learn than directly from your industry and your peers!
Laurie Barrera, President Elect 2010
Group One
Hanging With the Cool Kids
Remember how much fun that was in HS?
This Friday, ACAR's 2010 President, Jim Paulsen and 2010 president-Elect, Laurie Barrera will be making ACAR Committee appointments for 2010. You read about it in the Bulletin last week, and lots of you responded by going to our new website and filling out the Committee Volunteer Form.
There's still time for you to say: "I want to have some fun and help my association" (at the same time).
There are two really good reasons to join an ACAR Committee...
First...Its a great way to expand your REALTOR SOI. Find out, in a team work setting, who you're most comfortable working with. This is probably someone you'd likely do well working a RE deal with in the future. Its also a good way to declare your own worth to some other REALTORS you'd like to get referrals from.
Second...Its a fun way to do good work. Planning special events for REALTORS is one of the key things we do. Whether its the Annual Member Appreciation; Circle of Excellence or the Stan Thomas Give Back Golf Tournament...all are great events that require REALTOR leadership.
Some of my best friendships in Boise have come from working with many of you on Paint-the-Town or Agent2Agent. There's nothing that feels better that the fatigue of a long day working on a Habitat House. Please accept this invitation to join us.
All you need to do is say "I want an ACAR job" and we'll do the rest.
What do you say? Want to hang with the cool kids again?
This Friday, ACAR's 2010 President, Jim Paulsen and 2010 president-Elect, Laurie Barrera will be making ACAR Committee appointments for 2010. You read about it in the Bulletin last week, and lots of you responded by going to our new website and filling out the Committee Volunteer Form.
There's still time for you to say: "I want to have some fun and help my association" (at the same time).
There are two really good reasons to join an ACAR Committee...
First...Its a great way to expand your REALTOR SOI. Find out, in a team work setting, who you're most comfortable working with. This is probably someone you'd likely do well working a RE deal with in the future. Its also a good way to declare your own worth to some other REALTORS you'd like to get referrals from.
Second...Its a fun way to do good work. Planning special events for REALTORS is one of the key things we do. Whether its the Annual Member Appreciation; Circle of Excellence or the Stan Thomas Give Back Golf Tournament...all are great events that require REALTOR leadership.
Some of my best friendships in Boise have come from working with many of you on Paint-the-Town or Agent2Agent. There's nothing that feels better that the fatigue of a long day working on a Habitat House. Please accept this invitation to join us.
All you need to do is say "I want an ACAR job" and we'll do the rest.
What do you say? Want to hang with the cool kids again?
Tuesday, October 20, 2009
2010 Dues - Answers to Your Questions!
Ugh... it's that time again-- dues billing! There have been a number of calls about the dues and we wanted to answer them as best as we can:
1. When is the due date?
This year, you'll notice at the bottom of your statement that we have provided a variety of payment options.
Payment Option A: Pay in full on or before December 15th, and you'll receive a free Lunch & Learn Class through ACAR worth 2 CE and a lunch.
Payment Option B: Pay installments over the course of 75 days with the first payment of $130 due by December 15th, 2009. Subsequent payments can be made over the next 75 days but must be paid in full no later than March 1, 2010. Contact our membership department at 376-0363 for more details.
Payment Option C: If you have not paid in full by December 31, 2009 or made arrangements for installment payments, you will be subject to a $100 late fee. Dues must be received in full by March 1, 2010 to retain your REALTOR® privileges.
2. Why are the dues so high?
As a local association, we collect dues on behalf of the state and the national association. In September of 2009, the IAR Board of Directors, including State Directors representing local boards, voted to raise the dues for the Idaho Association of REALTORS®. The increase resulted in an increase of $28.50 over last year.
The increase of dues is to ensure that REALTOR® services can continue with the same quality of service. With decreased membership in recent years, the association has experienced a decrease in revenue. The association has been working off of their reserves for the last 2 years, but has come to a point where it is necessary to increase dues in order to maintain the level and quality of service.
Services provided by the Idaho Association of REALTORS® include:
* The REALTOR® Forms such as the representation agreements and the purchase and sale agreements;
* Representation in the legislature, which has resulted in the first time home buyer tax credits, and the tax deductibility of mortgage interest
* The legal hotline which allows brokers and REALTORS® to ask basic legal questions without having to retain counsel
* Professional Standards administration for more than 18 local boards in Idaho
* Affordable education, such as the Short Sale and Foreclosure Course being offered in November for only $15
* An annual convention that allow you to network with colleagues from around the state and receive the entire CE you would need in a license renewal cycle.
Breakdown of percentages:
42% of dues to IAR
27% to NAR
31% to ACAR
If you still have questions about the dues increase, you can contact the Idaho Association at 342-3585.
If you have questions about what benefits ACAR offers, click here.
3. Do I have to pay "RPAC"?
No. This is a voluntary contribution to the REALTOR® Political Action Committee. If you do not wish to contribute, you do not have to pay.
4. What is "RPAC"?
RPAC is the REALTOR® Political Action Committee who is responsible for endorsing candidates that support the REALTOR® Cause. To learn more about what they do, click here.
Need to pay your 2010 Dues Bill? You can pay on our website >> HERE.
1. When is the due date?
This year, you'll notice at the bottom of your statement that we have provided a variety of payment options.
Payment Option A: Pay in full on or before December 15th, and you'll receive a free Lunch & Learn Class through ACAR worth 2 CE and a lunch.
Payment Option B: Pay installments over the course of 75 days with the first payment of $130 due by December 15th, 2009. Subsequent payments can be made over the next 75 days but must be paid in full no later than March 1, 2010. Contact our membership department at 376-0363 for more details.
Payment Option C: If you have not paid in full by December 31, 2009 or made arrangements for installment payments, you will be subject to a $100 late fee. Dues must be received in full by March 1, 2010 to retain your REALTOR® privileges.
2. Why are the dues so high?
As a local association, we collect dues on behalf of the state and the national association. In September of 2009, the IAR Board of Directors, including State Directors representing local boards, voted to raise the dues for the Idaho Association of REALTORS®. The increase resulted in an increase of $28.50 over last year.
The increase of dues is to ensure that REALTOR® services can continue with the same quality of service. With decreased membership in recent years, the association has experienced a decrease in revenue. The association has been working off of their reserves for the last 2 years, but has come to a point where it is necessary to increase dues in order to maintain the level and quality of service.
Services provided by the Idaho Association of REALTORS® include:
* The REALTOR® Forms such as the representation agreements and the purchase and sale agreements;
* Representation in the legislature, which has resulted in the first time home buyer tax credits, and the tax deductibility of mortgage interest
* The legal hotline which allows brokers and REALTORS® to ask basic legal questions without having to retain counsel
* Professional Standards administration for more than 18 local boards in Idaho
* Affordable education, such as the Short Sale and Foreclosure Course being offered in November for only $15
* An annual convention that allow you to network with colleagues from around the state and receive the entire CE you would need in a license renewal cycle.
Breakdown of percentages:
42% of dues to IAR
27% to NAR
31% to ACAR
If you still have questions about the dues increase, you can contact the Idaho Association at 342-3585.
If you have questions about what benefits ACAR offers, click here.
3. Do I have to pay "RPAC"?
No. This is a voluntary contribution to the REALTOR® Political Action Committee. If you do not wish to contribute, you do not have to pay.
4. What is "RPAC"?
RPAC is the REALTOR® Political Action Committee who is responsible for endorsing candidates that support the REALTOR® Cause. To learn more about what they do, click here.
Need to pay your 2010 Dues Bill? You can pay on our website >> HERE.
Thursday, October 15, 2009
What's New from the Boise Valley Economic Partnership
Council met this morning. Every segment of Valley commerce is there: cities, counties, airport, power, commercial, builders Realtors, finance, chambers of commerce...you get the idea.
We've been hosting a site visit a week for last month. Mood is that once the credit becomes available, more companies will "pull the trigger" on expansion(in Boise).
Project update - as of last week the German company (700 employees) is still trying to decide. They were just involved in big acquisition (took over another company) and had to put US project on hold. We are still one of only two locations in consideration.
A Fortune 50 company is looking at a build-to-suit site here. They would bring 500 jobs.
BVEP legislative priorities are to work with counties to improve tax abatement process.
Also working to reduce corp tax rates. Gonna be tough with this budget.
BVEP has strategy to reverse tech sector employment contraction. We need to expand the work being done at BSU to create renewed interest. BSU is a national force in 3 research areas...smart materials, sensors and geophysics. But we need to expand lab and research
Some of the projects they are researching include: adding dna to ceramics (nanotech); creating ceramic fuel cells that make hydrogen for cars.
BSU is the single largest geophysics research project on earth's shallow surface. Huge interest area for oil companies.
The Chamber is hosting an Economic Outlook Forum on Nov 10 with BSUs Pres.
We've been hosting a site visit a week for last month. Mood is that once the credit becomes available, more companies will "pull the trigger" on expansion(in Boise).
Project update - as of last week the German company (700 employees) is still trying to decide. They were just involved in big acquisition (took over another company) and had to put US project on hold. We are still one of only two locations in consideration.
A Fortune 50 company is looking at a build-to-suit site here. They would bring 500 jobs.
BVEP legislative priorities are to work with counties to improve tax abatement process.
Also working to reduce corp tax rates. Gonna be tough with this budget.
BVEP has strategy to reverse tech sector employment contraction. We need to expand the work being done at BSU to create renewed interest. BSU is a national force in 3 research areas...smart materials, sensors and geophysics. But we need to expand lab and research
Some of the projects they are researching include: adding dna to ceramics (nanotech); creating ceramic fuel cells that make hydrogen for cars.
BSU is the single largest geophysics research project on earth's shallow surface. Huge interest area for oil companies.
The Chamber is hosting an Economic Outlook Forum on Nov 10 with BSUs Pres.
Social Media Rules of Engagement
Give More Than You Take The more you contribute to conversations and discussions, the more people will recognize your name and what you stand for. Over time you will establish credibility and build value. Remember the well-known adage; the more you care, the more you share.
Respect Be respectful of the community, the members, the group’s overall goals, etc. Social Media is a participatory sport and that means that you are one of many. People can chose to communicate with you or they can chose to ignore you. Treat others as you want to be treated.
Listen Listening and receiving comments and feedback are two of the greatest strengths of Social Media. They represent first-hand interaction with your customer. By listening to them you gain unfiltered feedback about your products and market.
Respond When people comment or leave messages for you it’s only polite to respond in a timely fashion. By responding you are validating to the online community that you are an individual that values and acknowledges others. This adds to your credibility as an individual.
Build Relationships It’s called social networking for a reason. Make sure you build relationships with everyone that communicates with you; establish conversations, ask questions, respond to questions, etc. Discussions and relationships encourage people to return to your page, thereby building a meaningful community.
Be Authentic and Transparent Be sincere and honest; be yourself. With Social Media displaying your profile, message and comments it is critical to your success that you are genuine and dependable.
Do Not Become a Nuisance It’s generally agreed that spamming is bad, but it’s also important to avoid becoming a Keyboard Gangster, Envelope Pusher or a Social Saboteur. More about these different type in my new Social Media Report.
Collaborate Social Media is a collective medium. This means that it uses the knowledge or wisdom of the whole group; not just a single individual. For that reason, information obtained in Social Media on Wikis or reviews is seldom entirely wrong. On the other hand, it’s often not 100% right. As a result, there is a strong need to work together, updating and constantly adding value to improve the quality of the content.
Add Value Every member of a community must contribute his or her fair share. What is your contribution? Remember that contributions come in many different shapes and actions: providing information, being a resource, answering questions and redistributing information.
Consider Opportunities in the Long Tail In Social Media, every service offering has some degree of value. It’s not always wise to just focus on the few services that command a high frequency of interest among a few niche groups and the requisite competition that introduces other service providers. As technology continues to erode communication barriers, value will also come from the many niche groups in “the tail” that demonstrate interest in services that conventional (competing) service providers would otherwise consider having little value.
Respect Be respectful of the community, the members, the group’s overall goals, etc. Social Media is a participatory sport and that means that you are one of many. People can chose to communicate with you or they can chose to ignore you. Treat others as you want to be treated.
Listen Listening and receiving comments and feedback are two of the greatest strengths of Social Media. They represent first-hand interaction with your customer. By listening to them you gain unfiltered feedback about your products and market.
Respond When people comment or leave messages for you it’s only polite to respond in a timely fashion. By responding you are validating to the online community that you are an individual that values and acknowledges others. This adds to your credibility as an individual.
Build Relationships It’s called social networking for a reason. Make sure you build relationships with everyone that communicates with you; establish conversations, ask questions, respond to questions, etc. Discussions and relationships encourage people to return to your page, thereby building a meaningful community.
Be Authentic and Transparent Be sincere and honest; be yourself. With Social Media displaying your profile, message and comments it is critical to your success that you are genuine and dependable.
Do Not Become a Nuisance It’s generally agreed that spamming is bad, but it’s also important to avoid becoming a Keyboard Gangster, Envelope Pusher or a Social Saboteur. More about these different type in my new Social Media Report.
Collaborate Social Media is a collective medium. This means that it uses the knowledge or wisdom of the whole group; not just a single individual. For that reason, information obtained in Social Media on Wikis or reviews is seldom entirely wrong. On the other hand, it’s often not 100% right. As a result, there is a strong need to work together, updating and constantly adding value to improve the quality of the content.
Add Value Every member of a community must contribute his or her fair share. What is your contribution? Remember that contributions come in many different shapes and actions: providing information, being a resource, answering questions and redistributing information.
Consider Opportunities in the Long Tail In Social Media, every service offering has some degree of value. It’s not always wise to just focus on the few services that command a high frequency of interest among a few niche groups and the requisite competition that introduces other service providers. As technology continues to erode communication barriers, value will also come from the many niche groups in “the tail” that demonstrate interest in services that conventional (competing) service providers would otherwise consider having little value.
Idaho Conference on Housing is Next Week
Join us for lively discussions with our workshop panelists and speakers, including Idaho's First Lady Lori Otter, member of the Idaho Meth Project Advisory Council, on dealing with crime and drugs in your community at the 2009 Idaho Conference on Housing at the Doubletree Hotel Boise-Riverside on October 19 and 20, 2009.
Friday, October 16 at 2:00p.m. will be the last opportunity to register online!
Registration Fees:
$125 Nonprofit/government
$175 Regular
Workshops and Presentations Include:
* Housing Crisis and Statewide Housing Conditions
* Housing Fraud: What it Means to you
* Neighborhood Stabilization - What's being done in your community
* Mayors Weigh in on the Link between Housing, Transportation, and Economic Development
* Experts will discuss what the future trends and key issues will be in Idaho
* And much more...click here to view the complete agenda.
Friday, October 16 at 2:00p.m. will be the last opportunity to register online!
Registration Fees:
$125 Nonprofit/government
$175 Regular
Workshops and Presentations Include:
* Housing Crisis and Statewide Housing Conditions
* Housing Fraud: What it Means to you
* Neighborhood Stabilization - What's being done in your community
* Mayors Weigh in on the Link between Housing, Transportation, and Economic Development
* Experts will discuss what the future trends and key issues will be in Idaho
* And much more...click here to view the complete agenda.
Tuesday, October 13, 2009
First Time Home Buyer Tax Credit-Is The End Near?
The National Association of Home Builders today reported that: “Washington turned a sharper focus last week on extending the current $8,000 tax credit for first-time buyers beyond its Nov. 30 expiration date and expanding it to a wider circle of principal home buyers”.
On Oct. 5, White House Press Secretary Robert Gibbs, said that “there has been quite a bit of success” with the home buyer tax credit, and he added that the President is considering extending it to strengthen the economy and create jobs.
NAHB estimates conservatively that the current tax credit has been responsible for some 200,000 additional home sales since early this year, resulting in a net increase of 187,000 jobs. Extending the tax incentive through Nov. 30, 2010 and making it available to all income-qualified purchasers of a principal residence would result in an additional 383,000 home sales and generate 347,000 new jobs in the coming year, according to NAHB economists.
A Meeting in the Oval Office The New York Times reported on Oct. 7 that extending the credit was briefly mentioned in a meeting that day in the Oval Office between President Obama and Democratic congressional leaders Rep. Nancy Pelosi, (Calif.), speaker of the House, and Sen. Harry Reid (Nev.), the Senate majority leader. Congressional aides indicated that a tax credit extension is being viewed as an option for stimulating the economy and job creation and extending it beyond first-time buyers is being considered.
In a statement following the White House meeting, Reid said that, “we need to continue working toward ensuring that more families can stay in their current homes and continue efforts to strengthen the housing market by extending the tax credit.”
The New York Times story also cited warnings from Mark Zandi, chief economist at Moody’s Economy.com, that allowing the tax credit to expire would slow the sales of new homes not facing foreclosure just as sales of foreclosed homes are expected to pick up, which would put downward pressure on home prices.
“The economic recovery will not evolve into a self-sustaining economic expansion and risks unraveling back into recession until house prices stop falling,” Zandi said in an interview.
On Oct. 5, White House Press Secretary Robert Gibbs, said that “there has been quite a bit of success” with the home buyer tax credit, and he added that the President is considering extending it to strengthen the economy and create jobs.
NAHB estimates conservatively that the current tax credit has been responsible for some 200,000 additional home sales since early this year, resulting in a net increase of 187,000 jobs. Extending the tax incentive through Nov. 30, 2010 and making it available to all income-qualified purchasers of a principal residence would result in an additional 383,000 home sales and generate 347,000 new jobs in the coming year, according to NAHB economists.
A Meeting in the Oval Office The New York Times reported on Oct. 7 that extending the credit was briefly mentioned in a meeting that day in the Oval Office between President Obama and Democratic congressional leaders Rep. Nancy Pelosi, (Calif.), speaker of the House, and Sen. Harry Reid (Nev.), the Senate majority leader. Congressional aides indicated that a tax credit extension is being viewed as an option for stimulating the economy and job creation and extending it beyond first-time buyers is being considered.
In a statement following the White House meeting, Reid said that, “we need to continue working toward ensuring that more families can stay in their current homes and continue efforts to strengthen the housing market by extending the tax credit.”
The New York Times story also cited warnings from Mark Zandi, chief economist at Moody’s Economy.com, that allowing the tax credit to expire would slow the sales of new homes not facing foreclosure just as sales of foreclosed homes are expected to pick up, which would put downward pressure on home prices.
“The economic recovery will not evolve into a self-sustaining economic expansion and risks unraveling back into recession until house prices stop falling,” Zandi said in an interview.
Monday, October 12, 2009
September Numbers Are In - And They're Good!
It is clear that buyers are getting the message.
I attended a “Finally Home” first time buyer seminar for 3 evenings last week. Gary Archer, the instructor, said: “There will never be a time in your life when real estate is a better buy.”
By the way, do your buyer clients the best favor you can. Get them in the Finally Home program. I Tweeted from class: “We think they know so much more than they really do”. I’m standing by that.
Sales in September were up 4% over August ‘09 and up 8% over September ’08.
So far in ’09 month over month sales have been up 8 months out of 9. Total monthly volume for September is nearly 2 ½ times what it was last January.
Median price in September slipped to $165,000 from Augusts’ $171,872. Most of this is from the number of short sales that closed.
Inventory fell to its lowest number since June ’06. Our highest inventory number was 5198 in July ’07. We are nearly one-third less than that record amount. Compared to September ’08 we are 15% less. Translating that into months of inventory on hand; we are at less than 7 months. (combined new and resale). This is 50% reduction from January ’09.
We have traditionally defined “market equilibrium” as 6 months of available inventory.
Measuring the impact of the first time home buyer tax credit; NAR recently reported that this category of buyer typically accounted for 45-48% of total sales. Nationally, the number is now over 50% of all sales.
In Ada County, sales of homes under $160,000 account for 32% of all inventory. This is up 20% from January ’09.
In September 45% of all sales were houses under $160,000.
In this price category, inventory is even scarcer. Inventory of new homes under $160,000 is at 4.35 months. Inventory of existing homes under $160,000 is at 4.6 months.
Short sales in September were 15% of all sales. REO sales in September accounted for just over 18% of total sales. This is down slightly from August and down 14% from our high in March.
Pending sales continue to forecast a solid future. At the end of September there were 975 pending sales.
Now, if we can just get Congress to do the right thing and extend the First Time Home Buyer Tax Credit, we're going to continue this recovery.
I attended a “Finally Home” first time buyer seminar for 3 evenings last week. Gary Archer, the instructor, said: “There will never be a time in your life when real estate is a better buy.”
By the way, do your buyer clients the best favor you can. Get them in the Finally Home program. I Tweeted from class: “We think they know so much more than they really do”. I’m standing by that.
Sales in September were up 4% over August ‘09 and up 8% over September ’08.
So far in ’09 month over month sales have been up 8 months out of 9. Total monthly volume for September is nearly 2 ½ times what it was last January.
Median price in September slipped to $165,000 from Augusts’ $171,872. Most of this is from the number of short sales that closed.
Inventory fell to its lowest number since June ’06. Our highest inventory number was 5198 in July ’07. We are nearly one-third less than that record amount. Compared to September ’08 we are 15% less. Translating that into months of inventory on hand; we are at less than 7 months. (combined new and resale). This is 50% reduction from January ’09.
We have traditionally defined “market equilibrium” as 6 months of available inventory.
Measuring the impact of the first time home buyer tax credit; NAR recently reported that this category of buyer typically accounted for 45-48% of total sales. Nationally, the number is now over 50% of all sales.
In Ada County, sales of homes under $160,000 account for 32% of all inventory. This is up 20% from January ’09.
In September 45% of all sales were houses under $160,000.
In this price category, inventory is even scarcer. Inventory of new homes under $160,000 is at 4.35 months. Inventory of existing homes under $160,000 is at 4.6 months.
Short sales in September were 15% of all sales. REO sales in September accounted for just over 18% of total sales. This is down slightly from August and down 14% from our high in March.
Pending sales continue to forecast a solid future. At the end of September there were 975 pending sales.
Now, if we can just get Congress to do the right thing and extend the First Time Home Buyer Tax Credit, we're going to continue this recovery.
Friday, October 9, 2009
Cap and Trade Bill Misinformation
There is an email recirculating from months ago about the impacts of H.R. 2454 (Cap and Trade bill) that is NOT based on complete reports. Most of these claims are addressed in a series of myths/facts at realtor.org. Please feel free to refer to: http://www.realtor.org/government_affairs/gapublic/american_clean_energy_security_act to get acccurate information.
The Idaho Association of REALTORS(r) are also offering additional input to NAR about the bill prior to being addressed in the Senate.
The Idaho Association of REALTORS(r) are also offering additional input to NAR about the bill prior to being addressed in the Senate.
Tax Credit Call For Action Update
Tax Credit Call for Action Update
The Call for Action (CFA) urging Congress to “extend and expand” the homebuyer tax credit is still open.
Nationally, just under 143,000 REALTORS® have taken action which is a 14.1% response rate. We are on track to reach our goal of 15% very soon! Targeted messaging and The Broker Involvement Program are both helping to build our response rates and we hope they will continue to grow. Please make sure all of your colleagues have responded so we can reach our goal. Take action now.
A lot of news outlets are talking about the homebuyer tax credit and it’s got a lot of people chatting. National Public Radio (NPR) recently ran a great piece on the debate over the extension of the tax credit. To read about it and listen to the story, please go to the NPR website:
http://www.npr.org/templates/story/story.php?storyId=113586552&ft=1&f=2.
The Call for Action (CFA) urging Congress to “extend and expand” the homebuyer tax credit is still open.
Nationally, just under 143,000 REALTORS® have taken action which is a 14.1% response rate. We are on track to reach our goal of 15% very soon! Targeted messaging and The Broker Involvement Program are both helping to build our response rates and we hope they will continue to grow. Please make sure all of your colleagues have responded so we can reach our goal. Take action now.
A lot of news outlets are talking about the homebuyer tax credit and it’s got a lot of people chatting. National Public Radio (NPR) recently ran a great piece on the debate over the extension of the tax credit. To read about it and listen to the story, please go to the NPR website:
http://www.npr.org/templates/story/story.php?storyId=113586552&ft=1&f=2.
Homebuyer Tax Credit Best Tool for Sustaining Housing Recovery, Says NAR
Washington, October 07, 2009
The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee today.
The tax credit expires November 30.
NAR Regional Vice President Joseph L. Canfora, a broker-owner with Century 21 Selmar Realty in East Islip, N.Y., also told the panel that a major stumbling block for consumers has been the implementation of appraisal processes spurred by the Home Valuation Code of Conduct, which is causing delays in closings, as well as cancelled sales that led to artificially low existing-home sales numbers for August, reported last month.
“The credit is working,” Canfora said, pointing out that the 355,000 to 400,000 transactions directly attributable to the credit made a significant dent in the housing inventory and will help to stabilize home prices. Further, the credit has provided a huge indirect benefit to local governments, shoring up property tax bases in particularly hard-hit areas.
Further, NAR data has estimated that every home purchase pumps into the recovering economy about $63,000 – the equivalent of one new job added to the employment figures.
But, Canfora said, the threat of more foreclosures coming to the market caused by mortgage rate resets, job losses, and by lender’s unburdening themselves of additional properties to take advantage of today’s more stabilized prices could disrupt the fragile recovery.
In a “normal” market, optimal housing inventory is about six to seven months, he said. When the tax credit was enacted in February, inventory was 9.1 months. Because of the spurt in homes sales since then due to the tax credit, inventory declined to 8.2 months in August, closer to “normal” than at any time since 2007.
In urging Congress to extend the credit, Canfora said, “The more robust the credit and the greater its duration, the greater the chance that the housing market can perform its traditional role of helping the economy move out of a recession.”
“But problems arising from the implementation of the HVCC may reverse the market’s positive momentum at a time when the real estate industry is just starting to show signs of a rebound in many markets,” Canfora said. According to an NAR survey of its members, approximately 40 percent of Realtors® report having lost at least one sale since May 1 because of appraisal problems due to the HVCC rules. Twenty percent say they have lost more than one sale.
The culprit, he said, was that appraisal management companies, which have gained prominence because of the HVCC, have assigned appraisers to areas where they lack geographic competence. That has resulted in unreliable appraisals. It is not uncommon that second and third appraisals have to be done to ascertain fair market value. Appraisal fees have also risen and are being passed on to consumers.
Both Fannie Mae and Freddie Mac have issued guidance on appraisals, but NAR is calling upon the mortgage giants and the Federal Housing Administration to issue a consolidated guidance that should be codified and incorporated into the existing policy to ensure proper information on appraisals is available to the real estate industry.
FHA Commissioner David H. Stevens has asked FHA staff to explore that recommendation with Fannie and Freddie. Last month, Stevens reaffirmed FHA appraisal policy, taking into consideration the unintended consequences that have burdened Fannie and Freddie, and issued two Mortgagee Letters focusing on appraisal changes. The policy reaffirms appraiser independence and geographic competence.
The FHA announcement also included timely steps to protect taxpayers: implementing credit policy changes to enhance risk management; hiring a chief risk officer for the first time in the agency’s history; and shifting responsibility for mortgage brokers away from taxpayers to the lenders who use mortgage brokers.
Canfora told the committee that FHA has performed remarkably well through the housing crises, compared to Fannie and Freddie. “That’s because FHA has never strayed from the sound underwriting and appropriate appraisals that have traditionally backed up their loans.”
“The reason the FHA capital reserve ratio fell below 2 percent had nothing to do with FHA’s current business activities. It is simply a reflection of falling housing values in their portfolio.” He cited an FHA announcement that a 2009 audit will show that even if FHA does nothing, the cap reserves are expected to rise back to that required level within a few years. He also pointed out that FHA total reserves are not in as dire straits as some have reported since the cap reserve fund is not the only FHA reserve fund – FHA also has a separate cash reserve that is higher that it has even been – and the combined assets total $30.4 billion.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
# # #
The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee today.
The tax credit expires November 30.
NAR Regional Vice President Joseph L. Canfora, a broker-owner with Century 21 Selmar Realty in East Islip, N.Y., also told the panel that a major stumbling block for consumers has been the implementation of appraisal processes spurred by the Home Valuation Code of Conduct, which is causing delays in closings, as well as cancelled sales that led to artificially low existing-home sales numbers for August, reported last month.
“The credit is working,” Canfora said, pointing out that the 355,000 to 400,000 transactions directly attributable to the credit made a significant dent in the housing inventory and will help to stabilize home prices. Further, the credit has provided a huge indirect benefit to local governments, shoring up property tax bases in particularly hard-hit areas.
Further, NAR data has estimated that every home purchase pumps into the recovering economy about $63,000 – the equivalent of one new job added to the employment figures.
But, Canfora said, the threat of more foreclosures coming to the market caused by mortgage rate resets, job losses, and by lender’s unburdening themselves of additional properties to take advantage of today’s more stabilized prices could disrupt the fragile recovery.
In a “normal” market, optimal housing inventory is about six to seven months, he said. When the tax credit was enacted in February, inventory was 9.1 months. Because of the spurt in homes sales since then due to the tax credit, inventory declined to 8.2 months in August, closer to “normal” than at any time since 2007.
In urging Congress to extend the credit, Canfora said, “The more robust the credit and the greater its duration, the greater the chance that the housing market can perform its traditional role of helping the economy move out of a recession.”
“But problems arising from the implementation of the HVCC may reverse the market’s positive momentum at a time when the real estate industry is just starting to show signs of a rebound in many markets,” Canfora said. According to an NAR survey of its members, approximately 40 percent of Realtors® report having lost at least one sale since May 1 because of appraisal problems due to the HVCC rules. Twenty percent say they have lost more than one sale.
The culprit, he said, was that appraisal management companies, which have gained prominence because of the HVCC, have assigned appraisers to areas where they lack geographic competence. That has resulted in unreliable appraisals. It is not uncommon that second and third appraisals have to be done to ascertain fair market value. Appraisal fees have also risen and are being passed on to consumers.
Both Fannie Mae and Freddie Mac have issued guidance on appraisals, but NAR is calling upon the mortgage giants and the Federal Housing Administration to issue a consolidated guidance that should be codified and incorporated into the existing policy to ensure proper information on appraisals is available to the real estate industry.
FHA Commissioner David H. Stevens has asked FHA staff to explore that recommendation with Fannie and Freddie. Last month, Stevens reaffirmed FHA appraisal policy, taking into consideration the unintended consequences that have burdened Fannie and Freddie, and issued two Mortgagee Letters focusing on appraisal changes. The policy reaffirms appraiser independence and geographic competence.
The FHA announcement also included timely steps to protect taxpayers: implementing credit policy changes to enhance risk management; hiring a chief risk officer for the first time in the agency’s history; and shifting responsibility for mortgage brokers away from taxpayers to the lenders who use mortgage brokers.
Canfora told the committee that FHA has performed remarkably well through the housing crises, compared to Fannie and Freddie. “That’s because FHA has never strayed from the sound underwriting and appropriate appraisals that have traditionally backed up their loans.”
“The reason the FHA capital reserve ratio fell below 2 percent had nothing to do with FHA’s current business activities. It is simply a reflection of falling housing values in their portfolio.” He cited an FHA announcement that a 2009 audit will show that even if FHA does nothing, the cap reserves are expected to rise back to that required level within a few years. He also pointed out that FHA total reserves are not in as dire straits as some have reported since the cap reserve fund is not the only FHA reserve fund – FHA also has a separate cash reserve that is higher that it has even been – and the combined assets total $30.4 billion.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
# # #
Tax Credit Extension Still Un-Certain
This yesterday from DSNews ("new and up-to-date information for the Default Servicing Professional")
White House Won't Commit to Homebuyer Tax Credit; Economists Remain Split
10/07/2009 By: Adam Weinstein
As the clock winds down on the popular $8,000 tax credit for new homebuyers, the White House has remained mum on whether it will be extended, and analysts are at loggerheads over the credit’s impact on housing markets.
The tax benefit for first-time purchasers – an emergency measure that was approved as part of the federal government’s stimulus to the ailing residential housing sector – is set to expire on Nov. 30. But despite appeals by trade advocacy groups to extend the credit, the White House said this week that it hadn’t made a decision on the matter.
The credit “helped the economy” and led to “quite a bit of success,” White House Press Secretary Robert Gibbs told reporters Tuesday. To that he would only had that President Barack Obama was considering an extension of the credit as one of many possible proposals to stimulate economic output and employment.
But some economists say the credit’s effect on the beleaguered housing industry has been exaggerated. Paul Dales, a researcher at Capital Economics, said the policy’s expiration was unlikely to reverse the recent housing recovery. He took issue with a National Association of Realtors study that estimated the tax credit was directly responsible for 350,000 home sales since January – about half the national total sold in that time. In fact, the real figure was closer to 225,000 units, or roughly 30 percent of all sales, Dales said.
“Overall, the government’s initiatives have kick-started the housing market, but they do not explain all of the recovery,” he said. “If we are right in thinking that the tax credit accounts for around 30 percent of the increase in home sales, then around 70 percent must be due to other more longer-lasting factors, such as the plunge in housing valuations and the fall in mortgage rates to historically low levels.”
That hasn’t stopped mortgage and housing groups, like the NAR, from advocating that the credit stay in place. The National Association of Home Builders has gone even farther, lobbying to expand a longer term tax credit to all home buyers.
Congress is expected to begin work soon on a bill to extend the tax credit. Though the potential bill’s fate is unclear, inside sources have told reporters that the likeliest outcome, due to federal budget reservations, is a 6-month continuance of the policy.
White House Won't Commit to Homebuyer Tax Credit; Economists Remain Split
10/07/2009 By: Adam Weinstein
As the clock winds down on the popular $8,000 tax credit for new homebuyers, the White House has remained mum on whether it will be extended, and analysts are at loggerheads over the credit’s impact on housing markets.
The tax benefit for first-time purchasers – an emergency measure that was approved as part of the federal government’s stimulus to the ailing residential housing sector – is set to expire on Nov. 30. But despite appeals by trade advocacy groups to extend the credit, the White House said this week that it hadn’t made a decision on the matter.
The credit “helped the economy” and led to “quite a bit of success,” White House Press Secretary Robert Gibbs told reporters Tuesday. To that he would only had that President Barack Obama was considering an extension of the credit as one of many possible proposals to stimulate economic output and employment.
But some economists say the credit’s effect on the beleaguered housing industry has been exaggerated. Paul Dales, a researcher at Capital Economics, said the policy’s expiration was unlikely to reverse the recent housing recovery. He took issue with a National Association of Realtors study that estimated the tax credit was directly responsible for 350,000 home sales since January – about half the national total sold in that time. In fact, the real figure was closer to 225,000 units, or roughly 30 percent of all sales, Dales said.
“Overall, the government’s initiatives have kick-started the housing market, but they do not explain all of the recovery,” he said. “If we are right in thinking that the tax credit accounts for around 30 percent of the increase in home sales, then around 70 percent must be due to other more longer-lasting factors, such as the plunge in housing valuations and the fall in mortgage rates to historically low levels.”
That hasn’t stopped mortgage and housing groups, like the NAR, from advocating that the credit stay in place. The National Association of Home Builders has gone even farther, lobbying to expand a longer term tax credit to all home buyers.
Congress is expected to begin work soon on a bill to extend the tax credit. Though the potential bill’s fate is unclear, inside sources have told reporters that the likeliest outcome, due to federal budget reservations, is a 6-month continuance of the policy.
Tuesday, October 6, 2009
Foreclosure Prevention - 90% Successful - Free to Homeowner
Neighborhood Housing Services Offers FREE Foreclosure Prevention Counseling
I recently became Chair of NHS's Housing Solutions Committee. The Committee oversees an amazing, and mostly unknown program to help homeowners. Called "Foreclosure Prevention Counseling", its really much more. NHS is able to do loan modifications (where possible), as part of an overall foreclosure prevention program. And...its FREE...and it has a 90% success rate (of avoiding foreclosure)!
Designed for homeowners who are behind, or anticipate becoming behind, in mortgage payments on their primary residence.
Available to all Idaho residents for their primary residence
NO COST for housing counseling services
We will work with you and your lender toward modification
NHS is a nonprofit, HUD-approved housing counseling agency.
Call us at (208) 343-4065 x119 or email home@nhsid.org
Here are four documents about the program
1. Two-sided color brochure for homeowners
2. Short Description of the Foreclosure Prevention Program
3. Homeowner Intake Packet - to initiate the program
Beware of foreclosure rescue and loan modification scams! Contact the U.S. Department of Housing & Urban Development at 800-569-4287 to verify that a company is legitimate and reputable before you work with them.
Mortgage Resources to Grow their Client Base
The number of products and services offered through Right Tools Right Now continues to grow.
Just released are three new Mortgage e-Products...
Traditional Mortgages: Understanding Your Options
This brochure helps consumers consider a variety of mortgage options including traditional fixed-rate mortgage and adjustable-rate mortgage (ARM).Order your copy for FREE
Specialty Mortgages: What Are the Risks and Advantages?
A consumer oriented brochure that outlines the risks and advantages of non-standard types of mortgages.
Order your copy for FREE
Learn About FHA Mortgages
This brochure outlines the changes to FHA, how to qualify for an FHA mortgage, and other resources available from FHA, HUD, and NAR.
Order your copy for FREE
Every REALTOR® who wants to sell more homes will benefit from the FHA Toolkit and information on FHA loans, which includes video FAQs and guides to major FHA-insured loan programs - all you need to help clients find the right FHA-insured loans. More new resources will e added every month, check back often!
Just released are three new Mortgage e-Products...
Traditional Mortgages: Understanding Your Options
This brochure helps consumers consider a variety of mortgage options including traditional fixed-rate mortgage and adjustable-rate mortgage (ARM).Order your copy for FREE
Specialty Mortgages: What Are the Risks and Advantages?
A consumer oriented brochure that outlines the risks and advantages of non-standard types of mortgages.
Order your copy for FREE
Learn About FHA Mortgages
This brochure outlines the changes to FHA, how to qualify for an FHA mortgage, and other resources available from FHA, HUD, and NAR.
Order your copy for FREE
Every REALTOR® who wants to sell more homes will benefit from the FHA Toolkit and information on FHA loans, which includes video FAQs and guides to major FHA-insured loan programs - all you need to help clients find the right FHA-insured loans. More new resources will e added every month, check back often!
Monday, October 5, 2009
Realtor.com meet Facebook...
If you don't believe social media is impacting real estate then take a look around.
Realtor.com is now directly interfacing with Facebook! And, its free! All you have to do is sign up for the application!
Your listings on your Facebook page... automatically!
What will they think of next?
NAR Brings National Housing Conference to Boise
Mark your calendar and plan to join your colleagues from around the region on Thursday, December 3 from 10:00 a.m. to 3:00 p.m. for a free one-day forum on employer-assisted housing (EAH) hosted by the National Association of REALTORS® and the National Housing Conference.
EAH is often described as a win-win-win tool because employers, employees and the community each benefit. As the nation continues to seek solutions to the housing crisis facing our country, EAH presents itself as one tool, among many, to help working families live in an affordable home near their workplace. EAH also helps to attract and retain productive, stable workforces and revitalize neighborhoods.
Join us at the Boise Centre (850 W. Front Street) for this one-day event to learn how you can be a part of a solution! Here is just a sampling of what the program will cover:
· Learn how to create and sustain an EAH program in your community.
· Understand the importance of advancing EAH through local and regional partnerships.
· Explore workforce housing issues from the perspective of employers.
· Hear from other practitioners and advocates managing successful EAH strategies.
You won’t want to miss this opportunity to learn from workforce housing experts, connect with your peers from the region, and share your story in a dynamic learning environment!
Register online today at https://216.64.136.11/exchweb/bin/redir.asp?URL=http://boise2009forum.eventbrite.com! Staying overnight? See details below on booking a discounted room at The Grove Hotel in downtown Boise!
Who Should Attend
The principal goal of the Bring Workers Home regional forum is to expand awareness of EAH as a proven housing solution among state and local leaders—including REALTORS®, REALTOR® association staff, business leaders, state legislators, city council members, other elected and appointed officials, and human resource and employee benefit professionals. This regional forum will also provide learning opportunities for housing planners, economic & community developers, practitioners and advocates.
Please feel free to share this announcement with interested colleagues!
Special Training Opportunity---Home from Work™ Class
Maximize your regional forum experience—participate in the Home from Work™ continuing education credit class on Friday, December 4 from 9:00 AM to 12:00 PM.
Designed for real estate professionals, this class will help you understand the benefits of employer-assisted housing and how to work with employers to assist them to implement an EAH benefit plan at their workplace.
Dates and Times
Bring Workers Home: 2009 Eastern Regional Forum on Employer-Assisted Housing
Thursday, December 3, 2009
10:00 AM to 3:00 PM
Home from Work™ Class
Friday, December 4, 2009
9:00 AM to 12:00 PM
Event Location and Sleeping Room Availability
The Bring Workers Home Forum and the Home from Work Class will take place at:
Boise Centre 850 W. Front StreetBoise, ID
Staying overnight? A discounted block of sleeping rooms is available at The Grove Hotel (245 S. Capitol Blvd.) The Grove Hotel is adjacent to Boise Centre and rooms are available for $109/night. To take advantage of this offer please book your room by November 18 by calling 1-888-961-5000 and referencing "National Housing Conference."
Registration Instructions
Register online today at https://216.64.136.11/exchweb/bin/redir.asp?URL=http://boise2009forum.eventbrite.com! There is no fee to participate in either event; however, space is limited. You are encouraged to register as soon as possible to confirm your participation. Registration will close on November 13.
Questions?
Please contact Lynn Ross at the National Housing Conference at lross@nhc.org.
EAH is often described as a win-win-win tool because employers, employees and the community each benefit. As the nation continues to seek solutions to the housing crisis facing our country, EAH presents itself as one tool, among many, to help working families live in an affordable home near their workplace. EAH also helps to attract and retain productive, stable workforces and revitalize neighborhoods.
Join us at the Boise Centre (850 W. Front Street) for this one-day event to learn how you can be a part of a solution! Here is just a sampling of what the program will cover:
· Learn how to create and sustain an EAH program in your community.
· Understand the importance of advancing EAH through local and regional partnerships.
· Explore workforce housing issues from the perspective of employers.
· Hear from other practitioners and advocates managing successful EAH strategies.
You won’t want to miss this opportunity to learn from workforce housing experts, connect with your peers from the region, and share your story in a dynamic learning environment!
Register online today at https://216.64.136.11/exchweb/bin/redir.asp?URL=http://boise2009forum.eventbrite.com! Staying overnight? See details below on booking a discounted room at The Grove Hotel in downtown Boise!
Who Should Attend
The principal goal of the Bring Workers Home regional forum is to expand awareness of EAH as a proven housing solution among state and local leaders—including REALTORS®, REALTOR® association staff, business leaders, state legislators, city council members, other elected and appointed officials, and human resource and employee benefit professionals. This regional forum will also provide learning opportunities for housing planners, economic & community developers, practitioners and advocates.
Please feel free to share this announcement with interested colleagues!
Special Training Opportunity---Home from Work™ Class
Maximize your regional forum experience—participate in the Home from Work™ continuing education credit class on Friday, December 4 from 9:00 AM to 12:00 PM.
Designed for real estate professionals, this class will help you understand the benefits of employer-assisted housing and how to work with employers to assist them to implement an EAH benefit plan at their workplace.
Dates and Times
Bring Workers Home: 2009 Eastern Regional Forum on Employer-Assisted Housing
Thursday, December 3, 2009
10:00 AM to 3:00 PM
Home from Work™ Class
Friday, December 4, 2009
9:00 AM to 12:00 PM
Event Location and Sleeping Room Availability
The Bring Workers Home Forum and the Home from Work Class will take place at:
Boise Centre 850 W. Front StreetBoise, ID
Staying overnight? A discounted block of sleeping rooms is available at The Grove Hotel (245 S. Capitol Blvd.) The Grove Hotel is adjacent to Boise Centre and rooms are available for $109/night. To take advantage of this offer please book your room by November 18 by calling 1-888-961-5000 and referencing "National Housing Conference."
Registration Instructions
Register online today at https://216.64.136.11/exchweb/bin/redir.asp?URL=http://boise2009forum.eventbrite.com! There is no fee to participate in either event; however, space is limited. You are encouraged to register as soon as possible to confirm your participation. Registration will close on November 13.
Questions?
Please contact Lynn Ross at the National Housing Conference at lross@nhc.org.
Friday, October 2, 2009
Guess Who's Ditching Their Mortgages...Really?
A study of 24 million credit files by national credit bureau Experian and consulting company Oliver Wyman has shown that home owners with high credit scores are 50 percent more likely to deliberately walk away from a mortgage than lower-scoring borrowers.
The industry calls these “strategic defaults” and their numbers grew to 588,000 in 2008, double the total in 2007, and well beyond most earlier estimates.
The study determined:
Strategic defaulters tend to go straight from paying their mortgages dependably to not paying at all.
Strategic defaulters are heavily concentrated in negative-equity markets like California and Florida.
Two-thirds of strategic defaulters have only one mortgage.
Most likely to default are home owners with large balances and the highest credit ratings.
Piyush Tantia, an Oliver Wyman partner and a principal researcher on the study, said strategic defaulters "are clearly sophisticated” and look on the decision to default as a business strategy. "Well, I'm $200,000 in the hole on my house, and yes, I'll damage my credit," Tantia says of defaulters.
The industry calls these “strategic defaults” and their numbers grew to 588,000 in 2008, double the total in 2007, and well beyond most earlier estimates.
The study determined:
Strategic defaulters tend to go straight from paying their mortgages dependably to not paying at all.
Strategic defaulters are heavily concentrated in negative-equity markets like California and Florida.
Two-thirds of strategic defaulters have only one mortgage.
Most likely to default are home owners with large balances and the highest credit ratings.
Piyush Tantia, an Oliver Wyman partner and a principal researcher on the study, said strategic defaulters "are clearly sophisticated” and look on the decision to default as a business strategy. "Well, I'm $200,000 in the hole on my house, and yes, I'll damage my credit," Tantia says of defaulters.
Thursday, October 1, 2009
ACAR Green Task Force Update
Our Energy Audit on the ACAR building was facilitated and completed in June by Eco Edge and a detailed report was delivered to the Task Force in July.
Our first meeting’s focus with Sharon Patterson of Eco Edge was to develop a sustainability policy for ACAR with the intent to communicate to membership, staff and clients a commitment to improving environmental, social and economic sustainability over time through specific goals and objectives.
Our green sustainability policy is designed to work in tandem with ACAR’s Mission Statement to ensure that we are promoting responsible property development while protecting private property rights. Our sustainability policy states:
The Ada County Association of REALTORS® is committed to setting an example of environmental and social responsibility for the real estate profession and the public in Ada County with observance to the protection of private property rights for all. This commitment to sustainability starts with our office and extends to our membership and the community. We will provide members with education on the value of sustainable properties and green buildings and with the tools and resources to conduct their businesses in a more environmentally responsible manner that betters the communities in which we live.
Our next two meetings focused on digesting the results, and deciding what recommendations we felt were the most important to tackle. The process involves assigning Project Champions for each task, to research costs, vendors, possible grant money, and execution.
The recommendations and tasks at hand include correcting disconnected ducts, correcting distribution of insulation in attic, installation of carbon monoxide detectors, considering bathroom occupancy sensors, replacing cleaning products with products that meet GreenSeal criteria, replacing kitchen products with recycled products, purchasing alternative drinks, replacing lights with CFL and apply for a grant with Idaho Power to replace the fluorescent lighting. We have only just begun, but it is a great start to make our building better and more efficient.
You may have noticed we now have a Green Tip on our e-bulletins, too!
Our Green Task Force is to be commended for their work and dedication: thank you to Alicia Ralston, Alicia Reinhard, Holly Tastad-Pozel, Jan Higginbotham, Jill Giese, Jody Hinton, Judy Luce, Karyn Williams, Lydia Richards, Tempe McFarlane and from ACAR staff, Susan Hansen.
Laurie Barrera, REALTOR®, GREEN, EcoBroker Certified
2009 Green Task Force Chair
Our first meeting’s focus with Sharon Patterson of Eco Edge was to develop a sustainability policy for ACAR with the intent to communicate to membership, staff and clients a commitment to improving environmental, social and economic sustainability over time through specific goals and objectives.
Our green sustainability policy is designed to work in tandem with ACAR’s Mission Statement to ensure that we are promoting responsible property development while protecting private property rights. Our sustainability policy states:
The Ada County Association of REALTORS® is committed to setting an example of environmental and social responsibility for the real estate profession and the public in Ada County with observance to the protection of private property rights for all. This commitment to sustainability starts with our office and extends to our membership and the community. We will provide members with education on the value of sustainable properties and green buildings and with the tools and resources to conduct their businesses in a more environmentally responsible manner that betters the communities in which we live.
Our next two meetings focused on digesting the results, and deciding what recommendations we felt were the most important to tackle. The process involves assigning Project Champions for each task, to research costs, vendors, possible grant money, and execution.
The recommendations and tasks at hand include correcting disconnected ducts, correcting distribution of insulation in attic, installation of carbon monoxide detectors, considering bathroom occupancy sensors, replacing cleaning products with products that meet GreenSeal criteria, replacing kitchen products with recycled products, purchasing alternative drinks, replacing lights with CFL and apply for a grant with Idaho Power to replace the fluorescent lighting. We have only just begun, but it is a great start to make our building better and more efficient.
You may have noticed we now have a Green Tip on our e-bulletins, too!
Our Green Task Force is to be commended for their work and dedication: thank you to Alicia Ralston, Alicia Reinhard, Holly Tastad-Pozel, Jan Higginbotham, Jill Giese, Jody Hinton, Judy Luce, Karyn Williams, Lydia Richards, Tempe McFarlane and from ACAR staff, Susan Hansen.
Laurie Barrera, REALTOR®, GREEN, EcoBroker Certified
2009 Green Task Force Chair
Monday, September 28, 2009
ACAR Young Professionals - Meeting on Sept 30th
This month, the ACAR Young Professionals will be meeting on Wednesday, September 30th from 11:30am-1pm at Pioneer Title on Rifleman. We have a guest speaker, Ronda Conger, who will help you to find inspiration in your business!
We will be providing lunch for you, so if you are planning on coming, just let me know! (Email me: SHansen @ myACARonline.com)
See you on Wednesday!
We will be providing lunch for you, so if you are planning on coming, just let me know! (Email me: SHansen @ myACARonline.com)
See you on Wednesday!
Wednesday, September 23, 2009
Tax Credit Already Helped 1.1 Million Households
The IRS says 1.4 million have used tax credit already. The 1.4 million total is based on the number of taxpayers claiming the $8,000 first-time home buyer tax credit on their 2008 income tax returns, including amended returns, the IRS says in a release (IR-2009-083).
Meanwhile, with it expiring Dec. 1, NAR continues its full court press to extend the credit into 2010. Watch and link to a video with NAR Government Affairs on the legislative outlook for the extension.
Meanwhile, with it expiring Dec. 1, NAR continues its full court press to extend the credit into 2010. Watch and link to a video with NAR Government Affairs on the legislative outlook for the extension.
Friday, September 18, 2009
YPN Tech Contest - Win Big!
If you're a real estate professional using technology to succeed in your marketplace, HP wants to give you an opportunity to win a mobile office. In exchange, we want to know your "technology" story.
To enter, describe how you use technology or plan to use technology to:
• differentiate yourself,
• increase your revenue, and/or
• improve your productivity
Provide examples, technology-saves-the-day scenarios - you get the picture - anything to illustrate that you're an agent who is optimizing technology to win.
Our grand prize winner will receive an HP mobile office prize package worth up to $3,841.00.
Contest details:
• Contest exclusively for U.S. real estate professionals over the age of 18.
• Entries must be submitted by 11:59:59 p.m. PT on October 28, 2009
• Winners selected:
a) Will receive a prize valued between $425.00 and $3841.00 (see prize list)
b) Will be announced at the HP-sponsored REALTOR® Magazine Young Professionals Network event on Friday, Nov. 13, at 7 PM during the REALTOR® Conference & Expo in San Diego (YOU DO NOT NEED TO BE PRESENT TO WIN.)
c) May be featured in national HP press and promotional materials and websites
To be eligible to win one of five (5) prize packages, submit the entry form and essay here by October 28, 2009. Winners will be judged on content, not grammar. So don't worry about punctuation - just be punctual in getting your entry in before the deadline.
To enter, describe how you use technology or plan to use technology to:
• differentiate yourself,
• increase your revenue, and/or
• improve your productivity
Provide examples, technology-saves-the-day scenarios - you get the picture - anything to illustrate that you're an agent who is optimizing technology to win.
Our grand prize winner will receive an HP mobile office prize package worth up to $3,841.00.
Contest details:
• Contest exclusively for U.S. real estate professionals over the age of 18.
• Entries must be submitted by 11:59:59 p.m. PT on October 28, 2009
• Winners selected:
a) Will receive a prize valued between $425.00 and $3841.00 (see prize list)
b) Will be announced at the HP-sponsored REALTOR® Magazine Young Professionals Network event on Friday, Nov. 13, at 7 PM during the REALTOR® Conference & Expo in San Diego (YOU DO NOT NEED TO BE PRESENT TO WIN.)
c) May be featured in national HP press and promotional materials and websites
To be eligible to win one of five (5) prize packages, submit the entry form and essay here by October 28, 2009. Winners will be judged on content, not grammar. So don't worry about punctuation - just be punctual in getting your entry in before the deadline.
Wednesday, September 16, 2009
REALTOR(r) Safety Week
REALTOR® Safety Week is this week, September 13-19, 2009. It is a time to be reminded of some of the dangers you face everyday, to be aware of surroundings, and to be empowered with precautions and preparations so that you can avoid risky situations.
Take precaution on the job and recognize there are a number of ways to protect yourself and have others look out for you as well!
Click here to learn more today.
Take precaution on the job and recognize there are a number of ways to protect yourself and have others look out for you as well!
Click here to learn more today.
Tuesday, September 15, 2009
30 Under 30 Applications Now Being Accepted!
It’s that time of year again!
REALTOR® Magazine is now accepting applications for its annual “30 Under 30” feature. Visit our website at http://www.realtor.org/archives/30under30main, and be sure to have your NRDS# ready.
Remember that we are looking for more than just sales volume and transaction sides when considering finalists. New systems, ideas, leadership, and association involvement also play a large role. Applications will be accepted through January 31, 2010.
Please pass this announcement on to your members so that your chapter may have the opportunity to be represented in this elite group of REALTORS®!
REALTOR® Magazine is now accepting applications for its annual “30 Under 30” feature. Visit our website at http://www.realtor.org/archives/30under30main, and be sure to have your NRDS# ready.
Remember that we are looking for more than just sales volume and transaction sides when considering finalists. New systems, ideas, leadership, and association involvement also play a large role. Applications will be accepted through January 31, 2010.
Please pass this announcement on to your members so that your chapter may have the opportunity to be represented in this elite group of REALTORS®!
Subscribe to:
Posts (Atom)
.jpg)
