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October 19, 2011
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EVENTS & EDUCATION
Manageable Monday Webinars
Earn CEs from your desktop. Next webinar - Oct. 31, 9-11 a.m.
Fair Housing (RE19RC08)

Creating Prosperity Seminars
A Legal Approach to Procuring Cause & Protecting Your Fee – Oct. 20,
10 a.m. – 2:30 p.m., Boston

A Broker-Owner Overview of Legal Requirements, Regulations & Relationships with Agents – Nov. 3,
10 a.m. – 2:30 p.m., Boston

SRES Designation Course
Seniors Real Estate Specialist Designation Course - Nov. 17-18,
9 a.m. – 5 p.m., Lexington

Real Estate Broker Pre-licensing Course
10 Classes over 5 weeks from Oct. 31 – Dec. 7, 2:30 – 7:00 p.m., Boston

Classroom CE Courses
Earn up to 6 CE credits by attending 3 courses. Nov. 9, 9 a.m. – 4 p.m., Waltham

Economic Expectations: A Forecast of the 2012 Housing Market
Featuring Freddie Mac Chief Economist Frank Nothaft and panel of real estate industry and policy analysts from Federal Reserve Bank, Harvard University and National Assn. of REALTORS® - Nov. 29, 10:30 a.m. – 1:00 p.m. Boston.

REALTOR® MEMBER BENEFITS

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GBAR’s New Local Market Reports Offer Community-Specific Housing Data  

Access to timely housing market data is essential to every REALTOR’S® business success, and that’s exactly what you will receive from the Greater Boston Association of REALTORS’® newest member benefit. GBAR’s Local Market Update (LMU) reports monitor key indicators of housing market performance for 64 communities in eastern Massachusetts. Produced on a monthly basis, GBAR’s LMU reports track activity in the detached single-family home and condominium markets, providing data on closed sales, median selling price, percent of original list price to selling price, the inventory of properties for sale, pending sales, and average time on the market for sold property. The reports offer both annual and year-to-date comparisons to the current month’s data, beginning with July 2011, and are presently available for all 54 cities and towns in the GBAR jurisdictional area, as well as 10 adjacent communities. The LMU reports are in addition to Real Estate Rewind, GBAR’s online quarterly market report, and the broader statistical data and analysis posted on our Monthly Housing Reports page for the Greater Boston housing market.

Housing Recovery Necessary to Nation’s Economic Well-being

NAR President Ron Phipps and Chief Economist Lawrence Yun recently participated in a day-long conference on Capitol Hill to outline specific strategies and a housing recovery plan that will address today’s critical homeownership, mortgage finance and real estate investment challenges. Among the topics and ideas explored by federal lawmakers, government officials, economists, and top real estate and business executives attending the New Solutions for America’s Housing Crisis forum were the creation of a national housing policy, decisively addressing the abundance of underwater home owners, establishing common-sense mortgage finance standards, and reform of the U.S. housing finance system, including the method by which the federal government should retain its role as a mortgage finance backstop for the long-term. NAR President Phipps, in his remarks, emphasized that housing and homeownership issues affect all Americans and that a healthy U.S. economy depends in large part on a recovery in the housing market. The Wall Street Journal blog Real Time Economics shares that view, urging legislators and policymakers not to ignore the housing crisis anymore.

Act by November 1 to Enroll in 2012 REALTOR® Dues Payment Plan

All GBAR members should have recently received a mailing containing your REALTOR® membership benefits information and renewal invoice for 2012. Once again, GBAR is offering a four installment payment plan option as an alternative to paying your annual membership dues in full by December 31. This program provides additional time and flexibility for renewing your REALTOR® membership, as the final payment is not due until June 15, 2012. To participate in the dues payment plan program members are asked to enroll by November 1 and must agree to make payments by credit card. Notably, for 2012 members also have the ability to save up to $275 on their GBAR dues and future education programming simply by renewing their membership by December 31, 2011 and recruiting two new affiliate members to join the Greater Boston Association of REALTORS® before July 1, 2012. For questions regarding membership renewal options or to pay your 2012 REALTOR® dues, call our Membership Department at 617-423-8700.

FHA Mortgage Insurance Requirements Clarified

Earlier this month, the U.S. Department of Housing & Urban Development issued Mortgagee Letter 2011-35 confirming that annual mortgage insurance premiums are not charged for Federal Housing Administration (FHA) loans with 1) amortization terms of 15 years or less and 2) a loan-to-value ratio at or below 78 percent at the time of origination. This policy is effective for mortgages with case numbers assigned after April 18, 2011. HUD also stated that there are no changes to the upfront premium on loans for 15 years or less.

Vote to Approve GBAR Bylaws Revision Scheduled for October 24

A proposed amendment to the GBAR Bylaws that would increase the term of the association’s top elected representative to the Massachusetts Association of REALTORS® will be voted on at a special general membership meeting to be held on Monday, October 24 at 10 a.m., immediately prior to the GBAR Board of Directors meeting. The revision, if approved, will amend Article XII, Section 1 of the bylaws to establish a new length of term for members elected to serve as the Greater Boston Region Vice President to the Massachusetts Association of REALTORS®. Specifically, the current one-year term would be increased to two years, effective with election of the regional vice president for 2013. The general membership meeting will take place at the Greater Boston Real Estate Board (GBREB) offices at One Center Plaza in Boston. Registration in advance is required and may be made by contacting Kevin Jones at 617-399-7851 or e-mailing kjones@gbreb.com

Volunteers Sought to Serve on GBAR Committees in 2012
Are you interested in becoming more actively involved with the REALTOR® organization? Then we invite you to apply for an appointment to one of the association’s numerous standing committees for 2012. Participation as a committee member affords you the chance to become part of the association’s decision-making process, and also provides the opportunity to network regularly with REALTORS® and affiliate members from communities throughout eastern Massachusetts. To be considered for a 2012 committee appointment, simply complete our online Committee Volunteer Request Form by October 28, 2011. You’ll find a description of each committee’s purpose and anticipated frequency of meetings in a document linked within the Committee Volunteer Request Form. For questions, call GBAR at 617-423-8700.

 

 

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