What's Going On

MLXchange System Maintenance July 9, 5 to 8 a.m.
MLXchange will be unavailable for about one hour between 5 and 8 a.m. due to upgrades and system maintenance. We apologize for any inconvenience.

SentriLock Software Bug will Affect Some Boxes on July 4
A software bug on Generation 1 SentriLock boxes periodically impacts how the box calculates Daylight Savings Time. The bug will next affect Generation 1 boxes with firmware version 2.02 or 2.03 on Saturday, July 4, between 9:24 and 10:24 p.m. During that time affected boxes will deny SentriCard and One Day Code access. To determine which firmware version your lockboxes have, click on the Lockboxes tab on the Web utility and then look at the Firmware column. We apologize for this and any inconvenience it may cause.

MAAR Office Holiday Closing
In observance of Independence Day, the MAAR office will be closed on Friday, July 3, and will re-open at 8:30 a.m. on Monday, July 6. There will be no Weekly REALTOR® published on July 3. The entire MAAR staff wishes you and your family a safe and happy holiday.

Your Password – What is It Worth to You?
It’s worth about $15,000. That’s right! MLS subscribers who give out their MLS password can be fined up to $15,000. Please keep your login information secure. MAAR is implementing additional methods for monitoring password misuse. If you think your password has been compromised, change it today or call (901) 685-2100 to have someone change your password for you. NOTE:  You must notify MAAR by e-mail at membership-mls@maar.org if you make the change yourself in order for all of your records to properly update.

Run Statistics Like a Pro
MAAR is pleased to announce the launch of Stats Pro, a new feature of the MLXchange system. Stats Pro enables all MLS users to choose specific search criteria and click the Statistics button at the bottom of the page to instantly view rich statistical reports and charts with up-to-the-minute market data.

Wine Down for Habitat
Save the date for our annual fundraiser to benefit the Greater Memphis Habitat for Humanity. This year's event will have a whole new look. We're expanding the Wine Race and making the course more challenging.  Treat yourself to a delicious BBQ dinner for only $8 per person and enjoy a summer evening with lots of fun games including a dunk tank, mini bowling, and carnival-type games. We're also selling Boston Butts, to be cooked by Memphis in May BBQ Team "Gettin' Piggy With It". These pork shoulders must be purchased in advanced and can be picked up the day of the event.  You won't want to miss this fun party and great excuse to get out and play with your colleagues- and for a great cause to boot!  Wine Down for Habitat is Thursday, August 13 from 5:30 to 8 p.m. in the MAAR parking lot. For more information, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.  You can download all forms online:

• Wine Race registration form
• Wine Race waiver
• Boston Butt order form

This event is generously sponsored by Tennessee Housing Development Agency & Commission Express of the Mid-South.

FHA Lenders Can Help Borrowers Use Tax Credit on Closing Costs
Last week, the U.S. Department of Housing and Urban Development (HUD) issued guidance for FHA-approved lenders to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit up front. According to HUD, lenders can provide bridge-loan products that buyers can use to help cover closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent required by FHA. The loans cannot be used to cover the minimum 3.5 percent down payment, however. Get more details directly from the FHA Web site. This new program is in addition to a program created by the Tennessee Housing Development Agency that provides funds for down payments or other up-front costs on THDA-issued loans.

Save $100 on the Two-Day Designation Course of Your Choice
Now, through December 2009, enjoy an additional $100 off the two-day designation course of your choice. Click here to find out how. 

REALTORS® Credit Union Now Open for Business
The REALTORS® Federal Credit Union is now open for business for the benefit of all members and their families. Some of the benefits include money market savings accounts, no-fee eChecking with debit cards, personal loans and credit lines, real estate loans and credit lines, share certificates, 24-hour online account access, and 24-hour member care that offers support by phone or online. RFCU offers competitive interest rates on both savings and lending, and funds are federally insured to at least $250,000 and backed by the full faith and credit of the U.S. government. Owned by its members and directed by an elected volunteer board, RFCU earnings accrue to the benefit of the credit union’s members, not stockholders. For more information or to open an account, visit www.realtorsfcu.org.

Help Save the Dream
REALTORS® have close relationships with homeowners and as professionals, are expected to be a resource. Reach out to your sphere of influence and beyond to see if anyone you know is facing foreclosure or might be on the path to foreclosure. Refer these people to a local specialist at (901) 725-8361 or download more information.

THDA Unveils New Program to Provide Down Payment Assistance in conjunction with First-Time Buyer Tax Credit
On March 20, the Tennessee Housing Development Agency (THDA) unveiled a new program offering down payment/closing cost assistance to first-time buyers qualifying for the federal tax credit. The program uses a second mortgage loan to assist a first-time buyer with down payment and/or closing costs with principal and interest deferred until July 1, 2010, by which time it is assumed that the buyer will have received funds through the first-time buyer tax credit. THDA plans to begin accepting applications for this new program on April 1. Download this summary chart that provides more details. And for an excellent explanation of the ins and outs of the tax credit itself, take a look at this short video and review these IRS tips for how to maximize the tax credit.

Member Community Service to be Profiled Each Week in Commercial Appeal
REALTORS® make a difference every day in the communities where we work, live and play. MAAR President Jon Albright is focused on getting positive exposure for REALTORS® and letting the public know about all the good things we do in our communities. As part of this, in Sunday's Real Estate section of The Commercial Appeal (space permitting) we will include a profile of a member and the work they do for the community. If you would like to be considered as a subject for one of these profiles, please fill out this form. The Community Involvement Committee will review all submissions and make selections.  If you have any questions or would like more information, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.

 

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