A Publication of the Memphis Area Association of REALTORS®
March 21, 2008
Volume 13, Number 12

In this Issue

• MAAR News
• Industry News
• Education & Events
• MLXchange & Technology
• Technology Classes

Did You Know?

April marks the 40th anniversary of the Fair Housing Act and to commemorate this, NAR is offering the At Home With Diversity online course at a 50 percent discount in April. Find out more and register online.

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for March 20 and change from previous week:

MAARket Snapshot

Pending sales recorded and total active listings according to MAAR MLS for week ending March 16 and change from previous week.

In the News

MAAR NEWS

Community Service Awards Call for Nominations
Know someone who works tirelessly for others? Let's recognize him or her! Applications for the Community Service Awards are now available. The application form has been streamlined this year to make it easier for you to nominate someone deserving. Applications are due by 5 p.m. on April 11.

NAR's Leadership Academy Seeks Applicants
Structured around national meetings, the Leadership Academy is a nine-month, five-state training and development program designed to identify and develop potential leaders for the National Association of REALTORS®. REALTOR® members who are interested in pursuing leadership opportunities at the national level but have not yet been actively involved in leadership positions are encouraged to apply. Applicants must have some formal leadership training experience either through a local or state REALTOR® association or another program, such as a military or community leadership program. The application process must be completed online between March 24 and April 28.

MAAR Member Becomes Youngest to Achieve ALC Designation
Paul Morris of Four M Land Company recently became the youngest person elected as an Accredited Land Consultant (ALC) member of the REALTORS® Land Institute. ALC-designated professionals are members of the RLI Land Network, a business network of more than 2,100 land specialists throughout North America.

NAR Call for Action: Market Conditions Demand FHA Reform Now
The increased loan limits for FHA that were included in the Economic Stimulus package are set to expire at the end of the year. NAR supports an FHA Reform Bill that includes realistic and permanent increases in the loan limits. Early evidence shows that the increased FHA loan limits are providing a much needed infusion of stability, liquidity and security into the market. If Congress lets the new limits expire, the fragile housing market will once again be thrust into a period of turmoil. Take action now to let your representatives in Congress know you support permanent increases in FHA loan limits.

MAAR Scholarship Application Deadline Approaching
Are you interested in attaining or finishing a Professional REALTOR® Designation? If so, fill out an application to receive a MAAR Education Foundation Scholarship. It's easy! You need to be a MAAR member for at least one year to apply, must have your managing broker sign, and must provide a brief written statement detailing your education ambitions and volunteer experience. The scholarship is merit-based and will award up to $250 toward the course of your choice. For commercial practitioners, check out our Newman Cross, CCIM Memorial Scholarship, which will award recipients full tuition to one CCIM course. Applications are available online and must be submitted by March 31, 2008.

INDUSTRY NEWS

Regulators Relax Capital Requirements for Fannie, Freddie March 19, 2008
Move gives GSEs leeway to buy up additional $200 billion in loans.

Congressional Democrats Seek to Aid Homeowners
March 19, 2008
Congressional leaders are hatching a legislative proposal to help distressed borrowers avoid foreclosure, giving the FHA a key role in renegotiating mortgages.

HUD Proposes RESPA, Mortgage Reform March 17, 2008
In an effort to significantly improve the complicated, unclear and costly home buying process, U.S. Housing and Urban Development Secretary Alphonso Jackson proposed mortgage reform designed to help consumers better.

Six Signs to Look for in Hopes of a Housing Market Recovery March 17, 2008
The housing market these days can best be described as a moving target. Some metros have gone from white-hot to ice-cold in just a couple of years, while other cities are just now hitting their stride.

Upcoming Education and Events

CI104: Investment Analysis for Commercial Investment Real Estate
This CCIM core course teaches students to analyze the critical aspects of the acquisition, ownership, and disposition of commercial investment properties. Class meets Monday, March 24, through Friday, March 28, from 8:30 a.m. to 5:30 p.m. each day at MAAR. Register online of call (800) 621-7027.

Talk Shoppe Presents "Open Microphone"
Come prepared to discuss hot topics in real estate and business on Wednesday, March 26, from 9 to 10 a.m. at the Better Business Bureau, 3693 Tyndale (one block east of Forest Hill Irene off of Winchester). For more information, call sponsor Jo Garner at First Tennessee Home Loans at (901) 759-7808.

BOMA Brings Stephen M. R. Covey to Memphis
Stephen M. R. Covey, author of The Speed of Trust, will give a half-day presentation at the Cannon Center on why personal credibility is the foundation of trust and how you can create it. The course, which is approved for three hours of TREC continuing education credit, will be held on Thursday, March 27, from 8:30 to 11:30 a.m. In this engaging presentation, Covey demonstrates the leadership benefits of trust and teaches how to establish and grow a high-trust, high-performance organization. For tickets, call (901) 260-5959 or register online at www.bomamemphis.com.

WHM: Avoiding the Predators
Join Memphis Area Legal Services Attorney Webb Brewer, on Friday, April 4, from 2 to 4 p.m. at MAAR for this 2-hour CE credit course that teaches you how to identify common predatory lending practices and characteristics, including applicable laws and important loan documents. The cost is $20 for MAAR members and you can register online.

MLXchange & Technology

MLXchange Tip of the Week - Tax Autopop
Using the Tax Autopop option when you are listing a property in Shelby, Fayette, or Tipton county can be a helpful, time-saving feature. Tax Autopop allows you to search the tax record by county, street number, and street name and import useful information directly into your listing. Using Tax Autopop not only saves you time and energy by doing the research for you it also helps ensure the accuracy of data in MLXchange. Click here for instructions on how to autopop a listing.

MLS Rules & Etiquette Reminder: Showing Property
Review the agent remarks and showing instructions prior to entering the home. This will ensure you don’t let the pet out or wake up a homeowner that works nights. Remember to wipe off your feet, stay close to your clients, turn out the lights, and lock the doors behind you. Do not leave a business card unless requested by the seller or the listing agent. Agents showing homes should make an extra effort to leave each property as they found it. The entire set of MLS Rules and Regulations can be found on the MAAR Web site.

MLXchange FAQ Sessions Every Monday at 10 a.m.
Need some help with MLXchange? Why not attend a question and answer session to quickly address your MLXchange questions. Sessions are offered in the MAAR computer training lab every Monday from 10 to 11 a.m. No appointment necessary, but do come prepared to ask questions! This is not a formal MLXchange class. For questions, call (901) 818-2455 or e-mail TechSupport@MAAR.org.

Upcoming Technology Classes