A Publication of the Memphis Area Association of REALTORS®
May 2, 2008
Volume 13, Number 18

In this Issue

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

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for May 1 and change from previous week:

MAARket Snapshot

Pending sales recorded and total active listings according to MAAR MLS for week ending April 27 and change from previous week.

In the News

MAAR NEWS

MAAR Offers New Online Listing Distribution Options
On May 15 MAAR will roll out to all MLS firms a new and exciting program known as ListHub from Threewide Corporation. ListHub is easy to use, and it is free. Each MLS Participant (the firm’s broker) will have the ability to send the firm’s active listing information to the Internet channels (Web sites) of the firm’s choice. No re-entry of information will be necessary. Channels available include Google Base, Cyberhomes, AOL Real Estate, Trulia Real Estate Search, Yahoo Real Estate, The Commercial Appeal (a new site for real estate), and more. Threewide also offers to each firm an optional full-service listing management program at a cost of $20 per month. This enhanced level will provide channel traffic reports for all of your listings and specific listing reports that agents can share with their sellers. If you have any questions, please contact our Technology Services Department at (901) 818-2417 or (901) 818-2429.

Lockbox Break-in Report
As of end of day April 30 we have had no break-ins of listed properties reported to the MLS since the April 25 alert announcing five break-ins. We will keep you informed as we learn more and ask that you report any incidences to us immediately by calling Jules Wade at (901) 818-2414.

Multi Million Dollar Club Elects 2008-2009 Officers
At their Annual Election Luncheon on May 1, members of the Multi Million Dollar Club elected the following officers for 2008-2009:

• President: Felix Bishop
• President-Elect: Ed Sharp
• Treasurer: Myra Sheddan
• Assistant Treasurer: Tommie Criswell-Jones
• Recording Secretary: Regina Hubbard
• Corresponding Secretary: Bob Peterson
• Two-Year Directors: Diane George & Carol Lott
• Fourth-Year Director: Mindy Creech
• Third-Year Director: Cathy Connolly
• Second-Year Director: Cathleen Black
• First-Year Director: Patty Everitt
• Director: Elsie Ward

Don't Forget to Renew Your License
With the new staggered license renewal dates, we have had several members who have failed to renew their real estate license in a timely manner and have had to pay fines or re-take the license exam. Please be sure to check your license renewal date.

MAARdata Gets a Tune-Up
Over the past few months, users of MAARdata have reported it to be performing slower than it used to. MAAR is pleased to announce that several transparent changes have been implemented to MAARdata’s source code enabling the system to perform at far quicker speeds than in weeks past.

New Items Available in REALTOR® Store
The following new items are now available for purchase in the REALTOR® Store:

• Sprinkler Key Holder
• REALTOR® Shopping Bag
• Business Card Holder - silver or gold
• Open House Door Hanger
• Open House in Progress Hanger
• Open House Yard Marker - red or blue
• Welcome Yard Marker - red or blue

Scholarship Recipients Announced!
The MAAR Education Foundation is happy to announce and congratulate the following individuals who were awarded a Professional Designation Scholarship: Tina Black-Shears, Crye-Leike; Cori Corder, Prudential Collins-Maury; Terry Fondren, Crye-Leike; Rose Frommelt, BenchMark at Collierville; Michelle Gauthe, Keller Williams; Karen Hale, First South Real Estate Services; Brenda Hampton, Crye-Leike; JoAnn Hughes, Crye-Leike; Pamela Huxtable, RE/MAX On The River; Randy Jefferson, Hobson; C. Lauren Jones, Crye-Leike; James Keeling, C21 River Oaks Maselle; Jimmy Kennedy, Prudential Collins-Maury; Scott May, Prudential Collins-Maury; Thomas McGhee, Crye-Leike; Joye Miller, Crye-Leike; Karen Newton, Prudential Collins-Maury; Claire Owen, Crye-Leike; Bertha Pitts, Crye-Leike; Ellis Rankin, Crye-Leike; Hedda Schwartz, Germantown Properties; Debbi Scruggs, John Green & Co.; Lois Street, Prudential Collins-Maury; Carlo van Rantwyk, Crye-Leike; Jo Walker-Payton, BenchMark at Collierville; Suzanne White, Keller Williams; Marceline Williams, Crye-Leike.
The following individuals were awarded the prestigious Newman Cross, CCIM Memorial Scholarship: Cathy Anderson, Crye-Leike Property Management; and Hunter Quinn, First Southern Mortgage.

NAR's Leadership Academy Application Deadline Extended
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 by May 6.

INDUSTRY NEWS

Open Houses Seen as Key Today May 1, 2008
In a slow market, the selling device provides a variety of functions that can help boost business.

New Agent Review Site Launches April 30, 2008
RealtyBaron creator launches AgentRank.com.

Tips for Keeping Sellers Sane April 30, 2008
Keeping a home in mint condition while living in it is tough, but being prepared to deal with the disruptions is essential.

How to Drive More Traffic to Your Blog April 29, 2008
If you have a real estate blog, there's several things you can do to get your sites ranked higher in search engine lists.

Builders Downsize Homes to Offset Costs April 28, 2008
Home builders are cutting back on square footage in response to buyers' preferences and the slowing market.

Fannie and Freddie Under Fire From Groups April 28, 2008
Two of the Nation's Capital's biggest companies - Fannie Mae and Freddie Mac - are under fire from consumer and industry groups over their controversial "declining markets" lending policies.

Upcoming Education and Events

Feeling Lucky?
Join WCR for a Night at the Races TONIGHT at 5:30 p.m. in the MAAR Education Center! This event is a fundraiser to support WCR’s general membership education and scholarship funds. It's only $10 at the door, which gets you an Italian dinner and 5 betting chips to get you started. We’ll be showing several horse races throughout the evening and you can bet on your horse. Ladies - wear your derby hats!  Everyone is welcome. Sponsored in part by Home Surety Title. For more information, contact Ashley Krauch at (901) 374-0089.

HOPE NOW Homeownership Preservation Event
The City of Memphis, Shelby County Government, HUD, the Housing Counseling Network, and the Memphis Branch of the Federal Reserve Bank of St. Louis have teamed up with the HOPE NOW Alliance for a HOPE NOW Homeownership Preservation Event on Saturday, May 3, to allow borrowers to meet with their servicer or a counseling organization face-to-face to develop a workout solution that helps borrowers stay in their homes. The HOPE NOW Homeownership Preservation Event is FREE and open to the public and will be held from 11 a.m. to 5 p.m. in the Pipkin Building at the Mid-South Fairgrounds. Click here for more details.

WHM: Home Maintenance and Repair
"Home Maintenance and Repair" is a Welcome Home Memphis Affordable Housing Certification course about the responsibilities of home ownership, routine home maintenance, and repair loans. It is being offered Monday, May 5, from 2 to 4 p.m. for 2 hours CE credit at MAAR with instructor Bob Turner of Southern Properties. The cost is $20 for members and $40 for non-members. Register online.

Closings: From Start to Finish
Receive helpful hints and tips in negotiation, learn about the Mirror Image Rule and title insurance, and the steps taken after the contract is signed. "Closings" will be offered on Tuesday, May 6, from 1 to 4 p.m. at MAAR for 3 hours CE credit. The cost is free for MAAR members and $15 for non-members. Register online.

Talk Shoppe Presents "How to Find the Best Mortgage in this Topsy-Turvy Market"
Jo Garner of First Tennessee Home Loans will present this free seminar on Wednesday, May 7, 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.

Rookie Resource: Skills for the Successful Agent of the Future
Do you have what it takes to succeed in today's marketplace? How about the marketplace of tomorrow? "Skills for the Successful Agent of the Future" will provide REALTORS with a solid "to-do" list to remain viable in the ever-changing world of real estate. Brand new agents will learn what’s needed to get started on the right foot in the business. This Rookie Resource Session will be held Wednesday, May 7, from 2 to 3 p.m. at MAAR. The cost is free. To register, please call (901) 685-2100 or e-mail nicci.lundquist@maar.org.

IREM Chapter Luncheon
IREM Memphis will hold its monthly chapter membership luncheon on Thursday, May 8, at noon at EP Delta Kitchen, 126 Beale St. Beth Flanagan, director of the Memphis Medical Center, will be speaking on the urban redevelopment in the downtown medical center and the $1 billion investment in the area. Click here to register.

WHM: Credit, Credit Scoring, and Credit Problems
This Welcome Home Memphis Certification course teaches you about the basics of credit and credit scoring, the Fair Credit Reporting Act, debt-to-income ratios, identification fraud, how consumers can improve their scores, and where consumers can go when they need professional help with their credit. The time is Thursday, May 8, from 2 to 4 p.m. at MAAR for 2 hours CE credit. The cost is $20 for members and $40 for non-members. Register online.

AI: Condos, Co-Ops and PUDs
The AI Memphis chapter will host this seminar developed for appraisers who wish to enhance their understanding and improve their abilities in the appraisal of condominiums, cooperatives, and Planned Unit Developments (PUDs). Its purpose is to provide appraisers with an in-depth look at these forms of ownership and to facilitate the application of the information in a practical manner. The class meets Friday, May 9, from 9 a.m. to 5 p.m. at MAAR. For more details or to register visit www.aimemphis.org.

CCIM Portfolio Resume Workshop
The Memphis CCIM chapter will hold a portfolio resume workshop on Saturday, May 10, from 9 a.m. to 1 p.m. at MAAR to introduce new requirements and provide guidance on portfolio submission. CCIM candidates interested in attending should call (901) 218-0782 or e-mail memphisccim@centurytel.net to reserve a spot.

CPM Designation Course: Asset Analysis
IREM Memphis will hold the required CPM designation course "Asset Analysis Track" May 12 through 16 at MAAR. The Asset Analysis track is comprised of skill-based courses that, when taken in sequence, progressively build your knowledge of financing and valuation of real estate assets. You'll work hands-on with fellow participants to explore various models of financial analysis in three applications-based courses designed to help you capitalize on your real estate assets. Students will find the tools they learn here indispensable to the properties and the portfolios they manage. Click here to register. For more information call (901) 218-8221.

MLXchange & Technology

MLXchange Tip of the Week - Multiple Windows
Did you know that you can open up more than one window of MLXchange at a time? The system allows agents two concurrent logins. This means you can be logged into MLXchange at the office and at home. Or more importantly, if you are in the middle of something in MLXchange and don’t want to lose what you are doing, you can open a second MLXchange window to perform the other task. When logging into MLXchange more than once, you might receive a warning that you are already logged in elsewhere. This is simply a reminder message. Click OK and proceed into the system.

MLS Etiquette & Rules Reminder: Reporting Data Errors
MLS users noticing data errors or MLS rules violations on listings should use the Report Data Error link found in the left margin, alongside MLXchange listing reports.  This link will open an e-mail message and include the MLS number and street address of the property in question.  Please enter a brief description of the error or rules violation into the email body.   Reports of data errors are sent immediately to MAAR’s MLS Associates, who will help correct errors and rules violations.  More MLS & MAARdata tips are available online.

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.

Donate Your Old Computers
If you have an old, but still functioning, computer in your closet or garage, recycle it! Dave Burns of Crye-Leike, REALTORS® is helping facilitate a computer recycling program offered through Covenant United Methodist Church, 8350 Walnut Grove Road. Simply take your computer to the church and qualified professionals will "flush" the hard drive and recondition the computer for use by organizations that need, but cannot afford, computer equipment (including inner-city churches and after-school programs). You can drop your used computer by the church gymnasium between the hours of 9 a.m. and 5 p.m. Monday through Friday (inquire at the reception desk about computer recycling). If you have a large number of computers, call Dave at (901) 619-2122 to arrange for pickup. Also, if you know of an individual or group in need of a donated computer, please let Dave know. They currently have about 15 computers waiting to be placed and since the project began, they have placed more than 200 computers with local organizations. Thanks to all REALTORS® who have donated computers.

Upcoming Technology Classes