REALTORS® Beware!

Five vacant homes this week have been rented out by a man saying his name is Lafayette. This man even goes as far as having updates done to the home like new paint. Four of the homes belong to investors and one was listed by one of our REALTORS®. Please make sure that you’re checking on your vacant listings. The Savannah-Chatham Police department has a case open if this happens to you please contact them at 912.651.6675.

You Made It Happen!

When it comes to the well-being of our industry and home ownership, every one of us plays an important role.

October 2012 | By Moe Veissi

When I was installed as president of the NATIONAL ASSOCIATION OF REALTORS® in November 2011, I said I’d need your commitment to advance the interests of the REALTOR® Party, consumers, and our members. You delivered big time. Thank you for your contribution to what has been a remarkable year for our industry and for me personally.

Help shape the future of organized real estate by participating in REThink.

• You secured an extension of the National Flood Insurance Program through Sept. 30, 2017, bene­fiting 21,000 communities where flood insurance is required for a mortgage. In the House, you obtained passage of rewritten RESPA rules that would enable us to reinstate the longstanding practice of partnering with home warranty companies. Some said it wouldn’t happen in 2012—but you believed it, and you made it happen.
• You alerted Congress that some 900 communities nationwide were in danger of being dropped from Rural Housing Service programs and ensured that access is retained throughout this fall. Now, we’re asking Congress to review the government’s outdated definition of “rural” and re­instate those communities. You are amazing!
• You brought the “Home Ownership Matters” message to Washington during the 13,800-strong REALTOR® Rally; supported pro-REALTOR® Party candidates; kicked off a historic e-mail initiative to build a relationship with the country’s 80 million property owners; and worked to ensure that lender and GSE reforms don’t hamper opportunities for responsible, qualified borrowers. Wow!
• You made the REALTORS® Political Action Committee, once again, No. 1 in terms of campaign contributions. You blew the doors off the initial RPAC goals, and you’re still going strong!

Each of these priorities is in some way meant to help your business. Although we’ve seen positive economic indicators this year, I know many of you are still struggling to find saleable inventory and close deals. Like you, I am a working broker, and your concerns will always be mine.
I’m a big fan of Axl Rose (more for his musicianship than for his aggressive personality, though some might say that’s a trait I share). In “November Rain,” Axl sings, “Nothing lasts forever, not even the cold November rain.” Well, it’s November again, and my presidency is coming to a close. But the good work continues with you. Thanks to the NAR leadership and management teams—your support has been tremendous. To the vice presidents, liaisons, and committee and forum chairs, vice chairs, and members—you were invaluable. And to every REALTOR® who engaged in our efforts—you are the strength of this industry and a crucial part of the economic, social, and cultural fabric of our country.  Remember, REALTORS® Are the Heart of the Deal!
http://realtormag.realtor.org/news-and-commentary/nar-president/article/2012/11/you-made-it-happen#.UJkfgLj4GxM.email 

2012 You Can't Fix Stupid Class - Statesboro Board of REALTORS® Class

Call for Action: Preserve Access to Safe and Affordable Mortgages

Potential homeowners in small but growing communities across the country face unique difficulties in finding access to safe, affordable mortgage financing.  Although the name, Rural Housing Section 502 loan program (RHS), implies a limited client base, the RHS is instrumental in providing the mortgage financing that opens up opportunities for homeownership in small but growing communities. Roughly 900 communities across the country will soon lose eligibility for Rural Housing Service programs like Section 502.  Unless Congress acts, thousands of American families will lose access to safe and affordable mortgages.

During a time of fiscal constraints it is important to understand that the Section 502 program is completely self-financed.  Maintaining access for the affected communities will not add one penny to the federal budget.

Strong communities, large and small have always been the key to a strong America.  Whether you live in an urban area, suburban, exurban community or a small farming town as a REALTOR® we need you to remind Congress to keep the door to homeownership open in all housing markets.

Please take action today and urge Congress to pass legislation that extends the eligibility of existing communities for programs of the RHS

Take Action NOW by clicking on the link below!
https://realtorparty.realtoractioncenter.com/site/Advocacy?pagename=homepage&page=UserAction&id=2267&AddInterest=1361 

In response to Linda’s great idea for us each to share some “take away’s” from the GAR Conference with our members,

In response to Linda’s great idea for us each to share some “take away’s” from the GAR Conference with our members, I asked Moe Veissi’s speech writer (yes, he actually has a staff speech writer at NAR) to supply me with his talking points.  What I received was a combination of speeches he’s given recently to Alaska, Maryland and GAR.  So, I have taken the liberty of editing them all into the attached, which I hope will enlighten the members who weren’t able to hear Moe.  Further, I think that we all, as leaders and spokespersons for our wonderful Association, can use these points when we address the media, or sales meetings or whenever we have an opportunity. Also, I would like to video a presentation of these remarks which we can make available to Brokers and on line. Thanks

Chip Kreps, RCE

Executive Director

Moe Veissi's talking points

Accomplishments

Ø Let me update you on some of our legislative and regulatory issues.

Ø First, a couple of NAR’s accomplishments this year.

Ø It was a relatively quiet year legislatively, but NAR worked hard behind the scenes.

NFIP

Ø We were happy the President signed the bill containing the five-year reauthorization of the National Flood Insurance Program.

Ø This is an important success, but like all legislative accomplishments, it was the result of compromise. 

Ø Moving forward we expect Congress to focus on the budget deficit.

Ø Given the shortfall, we’ll have to fight hard for our goals.

VA Loan Limits

Ø We’re also pleased Congress passed, and the President signed, a bill (HR 1627) that will reinstate the higher VA loan limits through 2014.

Ø It makes the ARMs permanent and allows loan pooling

Ø This helps our servicemen and women open the door to homeownership by keeping mortgage financing affordable and accessible.

Ø It’s part of our promise to American’s veterans who have given so much to defend our freedom.

What’s Ahead

Tax Reform

Ø With the so-called fiscal cliff looming, we’re expecting Congress to undertake comprehensive tax reform in the year 2013.

Ø We’re having ongoing discussions with House leadership, and we intend to keep that going throughout the process.

Ø We’ll be pushing hard to maintain the historical tax incentives to homeownership.

Ø In particular, we do not intend to give an inch on the Mortgage Interest Deduction.

Ø A huge tax increase on the middle class during an economic recovery doesn’t sound like a great idea to me.  How about you?

Ø The mortgage interest deduction is crucial to the stability of the American housing market and the economy. And it’s something we need to protect.

Ø We hope to be as successful nationally as you’ve been here on the State level, but we’ll need to keep fighting.

GSEs

Ø NAR believes we must restructure Fannie Mae and Freddie Mac.

Ø The best way to do this is by enacting comprehensive legislation to restructure the secondary mortgage market, while continuing the federal government’s role in the secondary mortgage market.

Ø We want to see mortgage liquidity in all markets, under all economic conditions.

QRM & QM

Ø NAR is urging federal regulators to re-craft the QRM exemption to include loans with down payments of less than 20 percent.

Ø As you may know, responsible lending standards and borrower’s ability to repay have the greatest impact on reducing lender risk—not high down payments.

Ø NAR supports a QM definition that:

o   establishes strong consumer protections,

o   promotes mortgage liquidity,

o   incorporates ability-to-repay standards, and

o   offers lenders a “safe harbor” that reduces litigation exposure.

Ø Simply put, we want to protect consumers while encouraging private lenders to return to the market.

Ø NAR forged the broad-based Coalition for Sensible Housing Policy, which asked for and received an extension of the proposed regulation comment period. 

Ø We expect action on QM before the end of 2012, with QRM to follow in 2013. 

Ø We want to ensure the rules do not block access for millions of lower income, first time buyers and residents of many communities who were most impacted by the recent foreclosure and credit crises.

Mortgage Cancellation Tax Relief

Ø Mortgage cancellation relief is set to expire at the end of the year.

o   Passed in 2007, with NAR’s support, it’s already been extended once, in 2009.

o   The bill was reported from the Senate Finance Committee; now it has to pass the House and the Senate.

Ø NAR is making a strong push for another extension to ensure this “phantom-income” tax doesn’t return.

o   Given its strong bipartisan support in both houses, many members can be expected to support an extension.

o   We’re optimistic that agreement can be reached.

As a contributing member of State and Local Government Affairs,

As a contributing member of State and Local Government Affairs, I attended their meeting on Wednesday afternoon. At that meeting we discussed the following

- the rationale for the recommendation from the Executive Committee for  the vote that would be coming before the Board of Directors regarding the change to the amount of continuing education hours required for Georgia Realtors.

- the outcome of the July SPLOST vote. It only passed in the Central Savannah River, River Valley, and Heart of Georgia Altamaha areas.

- a briefing on the upcoming convention and its focus on Legislative matters. For anyone who has gone to Washington for NAR, it is going to be modeled on that convention. There will be a rally at the Capitol, after which we will be able to meet with our congressmen and women. There will be a lunch and, that evening, an RPAC Major Donors reception, to which, our Congressional leaders will be invited.

-an update on the issue of Realtor compliance with the Georgia Residential Mortgage Act (GRMA), as it relates to short sales. Our
GAR President, Bill Boatman, met with the Deputy Commissioner for the Department of Banking and Finance, Rod Carnes, to discuss his concerns with Realtors violating the Banking Commission's interpretation of the GRMA, specifically in regard to short sales. Our President's goal was to solve the dilemma with an interpretive rule change as opposed to a legislative one. After the meeting GAR counsel, Seth Weissman, provided  a draft rule to clarify the problem. Currently, we are waiting for the Department of Banking and Finance to provide any comments or suggestions to the language. If they approve of it, then we will be noticed of the change.

Monica Spillane
Immediate Past President, Savannah Board of REALTORS®
President Elect, Savannah Multi-List Corporation

As a representative for the Savannah Chapter of Women's Council of Realtors,

As a representative for the Savannah Chapter of Women's Council of Realtors, attending this conference was especially moving for me.  I took great pride in going to the City of New Orleans to promote Georgia Realtors but also to support the local economy.  I understand while planning this conference prior to the birth of Hurricane Isaac, my feelings were even stronger about going to this community in the aftermath.

As I suspected, we were met with open arms, smiling faces and large cups!  It appeared as NOLA never missed a beat from just being skirted by Hurricane Isaac.  The conference attendees from all over Georgia were equally as welcoming.  Such terrific southern hospitality, I never felt like I left home.  The courses available to the attendees were tremendous and inspiring.  The speaker for the Georgia Chapter of Women's Council of Realtors was Ryan Lowe.  He discussed his book that has already inspired me to share the message with my family and co-workers about perseverance, faith and most importantly, attitude towards life, work and family.  His book is called, "Get off your attitude" and it means just that.  When we change our attitude, we can change our life.  As President of Savannah's Chapter of WCR this year, I have learned the value of such a great organization that has allowed me to grow personally and professionally.  In an instant our lives can be changed by those people we meet and WCR has done exactly that.

I encourage anyone to learn more about your local WCR chapter to learn just how your life and business can change with something as simple as getting involved.  You and your business will thank you for making such a great choice!