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February 20, 2009
 REALTORS® Offer Eminent Domain Compromise It's fair to say that no one wants government to be able to take their private property. We don't like it, but we tolerate it for roads and other public-use projects. But for economic development, eminent domain is a bitter pill to swallow because people simply do not understand how – and why – government can take private property. Read on >>
Sussex County Association of REALTORS® presents the 3 day Green Designation course. Earn this valuable NAR designation and watch your earnings increase.
The National Association of REALTORS® (NAR) Green Designation is the definition of green professionalism, excellence, and leadership for today's real estate practitioners. Specifically designed to address the educational needs of practitioners in residential, commercial, and property management markets, this training program is a true cross-over designation and the only green designation recognized by NAR. Click here for more information and to register >>
Cocktails: 6 - 7 p.m.
Donation: $40 per Ticket
Please call 302-628-9000
Cost is $50 and includes
Questions? Call Coastal at (410) 641-4401.
MLS: NAR VIRTUAL OFFICE WEBSITE SETTLEMENT AGREEMENT
By now, you have heard about part 1 of the VOW requirement: Seller Opt Out Forms. We will be sending information to each Participant and have an explanation available to help you explain the form to your client. Part II is for Participants only. Each Participant (Broker of Record) will need to review the definition of "Participant" to determine if they are in fact able to offer and accept compensation. If not, the Participant would no longer qualify to MLS membership after May 27, 2009. Consequently, if the Participant is going to offer and accept compensation they do not need to take any action.
Full Listing of February 23, 2009 through March 24, 2009 Effective Now - RESPA Reform Recent reforms in Real Estate Settlement Procedures Act (RESPA) have been enacted, affecting everyone involved in the settlement process. Some updates are now effective; others go into effect as of January 2010. For details, click here for a summary of the final changes. You may also view a 79 minute Webinar covering the new RESPA rules and how it affects the real estate industry. Some of the provisions of the new RESPA rules include a standard Good Faith Estimate (GFE) for consumers, updated HUD-1 form, and an optional HUD-1a form for transactions without Sellers.
More details on RESPA can be found at www.hud.gov and realtor.org. Homeowner Affordability and Stability Plan On February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan not only helps responsible homeowners behind on their payments or at risk of defaulting, but helps neighborhoods and communities too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs.
The key components of the plan are:
Find an Executive Summary, FAQs helpful for homeowners seeking a refinance or in danger of foreclosure, and more resources at the delawarerealtor.com Federal Issues Center. ETHICALLY SPEAKING... Our Duties to the Public
Case #10-5: Use of "Choose Your Neighbor" The ABC Board of REALTORS® received a complaint from a local fair housing group alleging that REALTOR® A was using discriminatory marketing techniques, in violation of Article 10 of the Code of Ethics, as the listing broker for a property in a new subdivision. In support of their complaint, the fair housing group provided copies of "Choose Your Neighbor" form letters sent by REALTOR® A to current neighborhood residents. The letters announced that the property was on the market and invited neighborhood residents to contact REALTOR® A if they knew of anyone who they thought might be interested in purchasing the home. At the hearing, REALTOR® A defended his use of "Choose Your Neighbor" form letters by demonstrating that they were just one element of his marketing campaign, and were not an attempt to restrict access to the property on the basis of race, color, religion, sex, handicap, familial status, or country of national origin as prohibited by Article 10. REALTOR® A produced copies of advertisements run in several newspapers, "OPEN HOUSE" flyers distributed at supermarkets throughout the town, and a copy of the property data sheet submitted to the Board's MLS. REALTOR® A remarked, "In my experience, the current residents of a neighborhood often have friends or relatives who have said that they would love to live in the neighborhood. It just makes sense to me to include contacting these folks in any marketing campaign!" Based on your understanding of the Code of Ethics Article 10, how do you think the Professional Standards Panel ruled? Find out in next week's At a Glance!
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© Copyright 2009 Sussex County Association of REALTORS®
23407 Park Ave., Georgetown, DE 19947, USA Phone (302) 855-2300 ~ Fax (302) 855-2319 ~ info@scaor.com ~ www.scaor.com |
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