A Publication of the Memphis Area Association of REALTORS®
August 8, 2008
Volume 13, Number 31

In this Issue

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

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for August 7 and change from previous week:

MAARket Snapshot

Pending sales recorded, total active listings, and total new listings according to MAAR MLS for week ending August 3 and change from previous week.

Join MAAR online at:

In the News

MAAR NEWS

2009-2010 Director Candidates Announced
The Nominating Committee has completed its work and is pleased to announced the following candidates for MAAR's Board of Directors for two-year terms beginning January 1, 2009:

Associate Director

• Pennie Barclay (Prudential Collins-Maury) vs. Randy Jefferson (Hobson Co.)

Director

• Steve Guinn (Highwoods Properties) vs. Ron Riley (In-Rel Management)
• Willie Lyons (Lawrence Johnson) vs. R. Darnell Tate (ERA Legacy)
• Betsy Kelly (Hobson Co.) vs. Denise Martin (Prudential Collins-Maury)
• Michael Green (John Green & Co.) vs. Debbie Sowell (Revid Realty)

2009 Director/2010 Vice President

• Nancy Carroll (Crye-Leike) vs. Lanny Foy (Crye-Leike)

Voting will take place on Thursday, September 4, at the Annual Meeting & Election, or by absentee ballot, which must be submitted in person or via mail delivery no later than noon Thursday, September 4. Candidate bios will appear in the September issue of MAAR This Month.

Habitat Fall Build Dates Have Been Announced!
Please plan to join us at the MAAR/Mortgage Bankers Association Habitat build site, located at 5157 Chantilly in Northaven from September 12 through October 25. We are offering two Thursday build dates for the first time this year in addition to the Saturday morning and afternoon shifts. Please consider giving your time and energy to help build a house for this deserving family! For more information, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org. To sign up, please complete the volunteer registration form.

Semi-Annual MLS Fees Due August 15
MLS fees for the period September 2008 through February 2009 are due by August 15, 2008. You can view your invoice and pay securely online. MLS users whose payments are made online or received in the MAAR office after 5 p.m. on September 2 will be assessed a $50 late fee and individual MLS services could be suspended. Please allow 5 business days for mail delivery and processing.

TAR Accepting 2009 Committee Requests
TAR is now accepting requests for appointment to a 2009 TAR committee or task force. To be considered, complete the request form and submit it no later than August 15.

INDUSTRY NEWS

Death of the Listing Presentation Aug. 6, 2008
Instead agents should make it a "listing education."

Most Consumers Pleased with Real Estate Agent Aug. 5, 2008
A survey by Consumer Reports shows that 71 percent of respondents were happy with their practitioner, while 12 percent were dissatisfied.

Getting a Mortgage Tougher for Buyers Aug. 5, 2008
Mortgages for people with bad credit or no proof of income have all but disappeared, making it harder for many buyers to qualify for a loan.

Is Now a Good Time to Become A Landlord? Aug. 5, 2008
Answer depends on which market you're considering.

Last Ditch Attempt to Preserve Seller-Funded Gifts Aug. 4, 2008
Legislation would amend housing bill's FHA provisions.

Economists: Housing Declines to Remain Small Aug. 4, 2008
A team of economists who created a variety of forecasting models say that predictions are greatly overblown of further large housing price declines.

Know Your Real Estate Consumer Aug. 4, 2008
ComScore study identifies four audience segments.

Upcoming Education and Events

Code of Ethics and Standards of Practice
Article for article - this class will help you understand your REALTOR® Code of Ethics.  No stone will remain unturned in this lively class on your standards of practice. It will really drive the message home! Come ready to learn and ask questions. This course will satisfy your 2005-2008 NAR Quadrennial Ethics Requirement.  Code of Ethics and Standards of Practice is being held Tuesday, August 12, from 1 to 4pm for 3 hours CE credit.  The cost is $15.  Register online.

Talk Shoppe Presents "Don't Fall Victim to Business & Real Estate Scams"
Nancy Crawford of the Better Business Bureau of the Mid-South will present this free seminar on Wednesday, August 13, 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.

GRI 4: From Offer to Contract to Closing
This two-day (16-hour CE) program is designed to equip every student with the skills and knowledge needed to properly prepare offers to purchase, property listing agreements, and other forms to protect the interests of their clients. Using the Tennessee Association of REALTORS® Standard Forms for reference and classroom exercises, the program includes an explanation of typical contract terms and conditions to facilitate clear communication between real estate salespersons and buyers/sellers. The entire negotiation process is also studied as an important component of this course – with a focus on strategies used in the original offer, in presentation, and in subsequent counter offers.  GRI 4 is August 14 and 15.  The cost is $195 through August 7 and $210 after.  Register at www.tarnet.com.

Wine Down for Habitat
This year's Habitat Kick-off Party is on Thursday, August 21, at 5:30 p.m. in the MAAR Education Center. Tickets are on sale now for $25 each for the Wine Tasting at 4:30 p.m.  Or, get a team of four together and register for the Wine Race, beginning at 4:30 p.m.  We are also seeking donated items for our silent auction, all proceeds of which go toward the MAAR/Mortgage Bankers Association Habitat house.  If you need more information, would like to purchase a ticket to the Wine Tasting, register for the Wine Race, or contribute an auction item, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.

Introduction to Commercial Real Estate, Investment and Development Analysis for Commercial REALTORS®
Learn how to analyze and value income properties; determine whether the expenses are realistic or not; hear all about cap rates and other financial measures used to value income properties; learn how to analyze development sites, determine land values and profit potential and factors that influence land values; discuss leases and leasing and long term real estate investment and lease versus buy analysis…plus pitfalls for the unwary…and much more. Also benefit by learning how to evaluate your own investment opportunities. Class is Friday, August 22, from 8:30 a.m. to noon at MAAR. Register online or by calling (901) 685-2100.

Applied Real Estate Investment, Development and Lease Analysis: What Numbers Really Count?
Topics for this course include: in-depth real estate investment and cash flow analysis, lease and lease versus buy analysis; how to analyze development sites, determine land values and profit potential, and factors that influence land values; site assembly and negotiating strategies; what numbers really count when analyzing real estate; and what are the implications for helping you list, evaluate and sell investment properties and development sites. This course is for commercial REALTORS or those who have attended the Intro seminar. Class is Friday, August 22, from 1 to 4 p.m. at MAAR. Register online or by calling (901) 685-2100.

MLXchange & Technology

MLXchange 4.3 Upgrade Complete; Additional Phone Support Available
The upgrade to MLXchange 4.3 is complete. This upgrade is a significant enhancement that corrects some existing issues in the systems as well as provides many new features, including broker level Web site capabilities, improved IDX search features, customized reports stationery, and much more. Click here for a complete list of the new features. System requirements: Windows XP SP2 or higher, IE 6 or higher, 1024 x 768 resolution or higher and an Internet connection speed of 56K or higher. In addition, new Active X files will need to be installed after the upgrade. Between August 6 and 19, members will have access to additional MLXchange support through AnswerLink at (901) 818-2426 between 5:30 a.m. and 8:30 p.m. Monday through Friday and 8:30 a.m. and 3:30 p.m. Saturday and Sunday.

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