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February 27, 2009
SYMPATHY TO PHIL MCGINNIS' FAMILY
The family request that donations in lieu of flowers be sent to:
Delaware Hospice Please keep Phil and his family in your thoughts and prayers. Thank you. NEW FACILITY RIBBON CUTTING EVENT
Please Join The Sussex County Association of REALTORS® as we cut the ribbon for our beautiful new facility. Mix, mingle and enjoy some light refreshments and good company.
 
"Right tools....Right now" NAR is responding to members needs by offering many FREE or greatly reduced products. Go online to realtor.org and see classes, products, and more that are available to REALTORS® to help in this market. Be on the lookout for more new tools over the coming weeks. U.S. CENSUS BUREAU EMPLOYMENT OPPORTUNITIES
at 1-866-861-2010.
Seating is limited to 120, sign up now.
It's coming, and you need to understand how to help your buyers obtain additional mortgage assistance towards their purchase. Brad Whaley and Brandy Bennett will explain the new Sussex County Housing program allocating $1.9 million to home buyers of foreclosed property. Learn the requirements, amounts available per buyer, and ask questions so you can get houses sold and your buyers into a home. It's a tough market, but HUD and Sussex County Development and Housing are here to help. The session is free, but registration is required.
The Internal Revenue Service announced on February 25 that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before December 1, 2009, have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. Read the entire news release >>
Click here to read the NAR Press Release >> IT'S A BOY!
Congratulations to Denise Tatman, EVP of DE Association of REALTORS®. Her first grandson was born this week. DELAWARE COMMON INTEREST OWNERSHIP ACT WORKSHOP RECAP
If you missed this session, you still have time to sign up for a special 3 credit legislative update on March 6, 2009. DAR is hosting the update at the Atlantic Sands in Rehoboth as a part of the annual Ocean Jump RPAC Fundraiser.
Click here to read entire article >> 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 >>
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 March 3, 2009 through April 3, 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
How do you think the Professional Standards Panel ruled in last week's Case Study? Case #10-5: Use of "Choose Your Neighbor"
The Hearing Panel found REALTOR® A not in violation of Article 10. In their "Findings of Fact and Conclusions," the panel noted that the use of "Choose Your Neighbor" letters is not a per se violation of Article 10 , but cautioned that such letters could be used in a manner inconsistent with the intent of Article 10. If used in conjunction with other marketing techniques and not as a means of limiting or restricting access to property on the basis of race, color, sex, handicap, familial status, or county of national origin, "Choose Your Neighbor" letters were another method of announcing a property's availability and attracting potential purchasers.
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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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