I’m Getting Tired of This…
Being negative. There’s a lot of bad news out there, you don’t have to do anything more than open your newspaper, log onto your favorite news sites, read an article or blog and you’ll see plenty of ‘the sky is falling’ kind of opinions. Well, I’m not immune to it and I’m thinking you aren’t either, but I’m going to make a conscious effort to combat that through my attitude and thoughts. I’m starting with balancing my need to keep informed of news that has an effect on me and being aware of all that’s good around me.
I’m limiting my time spent reading and listening to the news, I’m seeking out articles that focus on how we’re gaining ground, making a difference, seeing seeds of growth and how communities are thriving. I invite you to join me. I’m making a choice, that’s what I can do. You can too!
We are in industries that have a direct impact on peoples lives, as REALTORS®, Lenders, Home Inspectors, Attorneys and all the other professions that somehow touch the property transaction. We help people find a home, a place for their business or to invest their hard earned dollars. We help people realize their dreams! That’s big stuff, that’s positive stuff!
We have one of the most powerful lobbying groups behind us, we have local representation, a strong message at the state level and in Washington D.C. for literally pennies a day investment for this enormous support. We help create jobs with every transaction, we help our communities thrive and we can continue to make a difference.
I challenge you in the next 30 days to do something that is a conscious action to be a positive influence or to make a positive change. And I’m inviting you to share what you did, how you made a difference and if your attitude is different. It can be a “pay it forward” thing or just a new way of looking at your world, a different business practice or becoming involved in something that you always wanted to find the time for.
What can you do?
Q&A on the FTC Stay of MARS Rule
There is an excellent Q & A posted on the NAR website (this will require member log in) that may help clarify any questions you may have about the Stay of MARS Rule for real estate professionals.
The FTC announced that it will forbear from enforcing most provisions of its MARS Rule against real estate professionals
NAR has made an important step in resolving the confusion caused by the Federal Trade Commission’s (FTC) Mortgage Assistance Relief Services Rule (MARS) among real estate professionals who provide assistance to struggling homeowners in negotiating short sales with servicers on the sale of the home.
On July 7, 2011, NAR President Ron Phipps met with FTC Chairman Jon Leibowitz to discuss the problems caused by MARS. On July 15, 2011, The FTC announced that it will forbear from enforcing most provisions of its MARS Rule against real estate professionals who assist consumers in obtaining short sales from their lenders or servicers.
Effective immediately, real estate professionals acting in their licensed capacity will no longer need to comply with most of the Rule’s requirements, including the required disclosures, advance fee ban, and recordkeeping requirements.
This forbearance of enforcement will only apply to real estate brokers (and real estate agents under their direction and control) who are:
- Licensed and maintain good standing pursuant to any applicable state law requirements;
- In compliance with state laws governing the practices of real estate professionals; and
- Assisting or attempting to assist a consumer in negotiating, obtaining or arranging a short sale of a dwelling in the course of securing the sale of the consumer’s home.
The FTC will still enforce the Rule’s prohibition against misrepresentations made by a real estate professional while assisting a consumer in negotiating or obtaining a short sale.
The FTC’s forbearance should have the effect of resolving this issue for real estate professionals who are acting in their licensed capacity. While the Consumer Financial Protection Bureau and state attorney generals can still enforce the Rule as written, both groups are expected to follow the FTC’s lead. NAR will continue to work on obtaining a complete resolution of this issue.
Have you heard of WhyIBuy?
WhyIBuy is a very interesting program the Illinois Association of REALTORS® has put together. IAR conducts ongoing telephone interviews with Illinois home buyers and then compiles the information on the WhyIBuy website. Going beyond the reports that list sold and price data we see what motivates and influences homebuyers. The reports are broken out into eight different regions so that you can get a very local picture of what motivates a buyer in our area vs. Southern Illinois or in the larger cities.
Other than the curiosity factor you may have about this report, you can use this information to make decisions about your marketing efforts and where you will put your advertising dollars. The information is from the actual people making the decisions about what home they buy and where, so it’s almost like having a look in the window about what messages really work. Check out the WhyIBuy website today.
Home Ownership’s Place in America
The ability to buy, sell and own property has defined our nation throughout its history, and as the U.S. prepares to celebrate its 235 birthday, Americans continue to reaffirm their support of and aspirations toward home ownership.
“For over 100 years, Realtors® have helped bring families home,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “There’s a reason why home ownership is called the American Dream – it’s part of our collective history and an essential part of building our nation’s future, as well.”
Numerous studies have shown the value Americans place in home ownership. According to the 2010 NAR Profile of Home Buyers and Sellers, first-time buyers most often cite the desire to own a home as the primary reason for their recent home purchase. Eighty-five percent of all recent home buyers consider a home purchase a solid investment, and 76 percent of them believe owning a home is as good as or better than an investment in stocks. Read more…
I’m asking you to respond!
I just sent two messages to my Congressional Leaders, we need to make our individual voices heard as one collective voice, that’s the part where I’m asking you to respond too. One of the most important roles we have is advocacy, as a part of the REALTOR® family we advocate for private property rights and protections for property owners. There are two calls to action right now, the first is a call to action to let our legislators know how we feel about On September 30, the cost of a mortgage could rise significantly. If this happens, many of your clients run the risk of being priced out of the American Dream of home ownership. Even worse, this could hold back the housing recovery.
We need you to share your market expertise with Congress. Send the letter below urging them to make the current mortgage loan limits for FHA and GSEs permanent. Well-qualified buyers don’t need another hurdle to access affordable mortgage financing.
The second call to action urges Congress to renew the Flood Insurance Program, this program is the only source of flood-damage protection for 5.6 million home- and business owners, as well as the builders, remodelers, movers, furnishers, real estate professionals, mortgage lenders, investors, insurance agents and other companies upon which they relied to buy or sell property. Just as important, without a stable, functioning flood insurance program, real estate transactions in many of these neighborhoods across 21,000 communities nationwide could come to a standstill.
Ensure your clients have access to affordable mortgages
Urge Congress to renew the Flood Insurance Program and protect 5.6 million home and business owners
NAR Call to Action: Ensure your clients have access to affordable mortgages.
NAR Call to Action: Ensure your clients have access to affordable mortgages. On Sept. 30 the cost of mortgages could rise significantly if lower loan limits take effect. Take action now and urge Congress to keep current loan limits for FHA, Freddie Mac and Fannie Mae permanent.
All New Rental Forms for RAFV Members
There here! The RAFV Forms and Contracts Committee have been hard at work the past several months on creating new Rental Forms for you. Download the forms here.
Let us know what you think!
Aurora Housing Authority Issues Vouchers – Prospective Landlords Can Help With Relocation Of Residents
Aurora Mayor Weisner announced that the Aurora Housing Authority (AHA) has recently issued approximately 80 Tenant Protection Housing Choice Voucher (TPV).
Under the TPV program, the Aurora Housing Authority must help displaced families find appropriate replacement housing under the Housing Choice Voucher program (Section 8 program). This includes payment of many of the moving expenses, including security deposits.
The AHA is hoping that prospective landlords and their managers hear about this program in order to help relocate the residents of the Jericho Circle Complex. Landlords and Managers can list their rental units by filing out a form and submitting it via fax to630-859-7219 or by emailing it to Beverly Lloyd at beverlylloyd@auroraha.org. The forms may be obtained from the AHA website at www.auroraha.org or at the front desk of our main office located at 1630 W. Plum Street, Aurora, IL.
Fannie May -Special Offer
HomePath® Buyer Incentive: June 14 – October 31
Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011. A $1,200 selling agent bonus is also available to selling agents who close on an owner occupant property and meet all eligibility requirements and terms and conditions.
