A Publication of the Memphis Area Association of REALTORS®
August 22, 2008
Volume 13, Number 33

In this Issue

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

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for August 21 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 17 and change from previous week.

Join MAAR online at:

In the News

MAAR NEWS

Thanks for "Wining Down" and Helping Kick Off our Habitat Build
Thank you to everyone who participated in our fantastic Wine Down for Habitat event last night. All proceeds raised through the Wine Race, Wine Tasting and Silent Auction will go toward the MAAR/Mortgage Bankers Association Habitat house. We could not have done it without your support and we thank you!

Habitat Fall Build Begins September 12
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 Now Past Due
MLS fees for the period September 2008 through February 2009 are now past due. 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. Suspended MLS service could take up to 2 business days to reactivate. Please allow 5 business days for mail delivery and processing of payments.

City of Memphis Getting Tough on Enforcing Sign Ordinance
The City of Memphis is cracking down on the illegal sign ordinance which specifies that no sign or advertising can be displayed on public property. This includes "House for Sale" signs and directional signs that are posted on a street corner, median, or in the grassy area between a sidewalk and the street in front of a property. Violation of the ordinance will not only result in having your sign confiscated, but after 10 offenses, you face of fine of $500 and court costs on each of the 10 offenses. 

Call for 2009 President-Elect Candidates
Former and outgoing Directors interested in serving as the 2009 President-Elect, should complete the nomination form and return to MAAR no later than 5 p.m. Tuesday, September 9. Interviews all President-elect candidates will be conducted on Friday, September 12 at 1:30 p.m. Per the MAAR Bylaws, it is possible that the Directors will vote the same day as the interviews; however, if the Directors feel they need more time, a subsequent special-called meeting will be scheduled. For more information, contact carol.culpepper@maar.org.

Education Scholarships Available
The MAAR Education Foundation is accepting applications for the Professional Designation Scholarship and the Newman Cross, CCIM Memorial Scholarship.  For an application and application criteria, visit www.maar.org/ce/scholarships.asp. Those awarded a Professional Designation Scholarship will receive $250 towards the designation course of their choice.  Those awarded a Newman Cross, CCIM Memorial Scholarship will receive full tuition to the CCIM course of their choice.  Take advantage of this great opportunity!

Shelby and DeSoto Handy Maps On Sale Now
The REALTOR® Store now has Shelby County Handy Maps on special: when you buy one at regular price, you get a second absolutely free! Partner up with a colleague and you can each get a great deal on these maps. In addition, 2007 DeSoto County Handy Maps are on clearance for just $5 each.

INDUSTRY NEWS

Campaign Launched to Undo Down Payment Ban Aug. 19, 2008
The nonprofit Nehemiah Corp., which has arranged thousands of seller-funded down payment loans, is trying to persuade Congress to override the down payment assistance ban, which takes effect Oct. 1.

Buyers Flock to FHA, Government-Backed Loans Aug. 18, 2008
Conventional loan applications drop 50 percent.

New Mortgage Law Has Buyers Scrambling Aug. 18, 2008
Buyers are quickly trying to take advantage of seller-funded down payment assistance before a federal ban on such programs takes effect on Oct. 1.

8 Reasons Your Home Hasn't Sold: Advice for Frustrated Clients Aug. 18, 2008
There are buyers out there and you can sell your property if you take the right steps.

Stop Buyers from Stringing You Along Aug. 15, 2008
The California Association of Mortgage Brokers has called on lenders and investors to relax their underwriting rules because even buyers with good credit are unable to qualify for financing.

Video Killed the Business Card Aug. 15, 2008
Top 10 ways to use video in real estate.

REOs Comprise 17% of Homes on Market Aug. 14, 2008
RealtyTrac says REO inventory now tops 750,000.

Upcoming Education and Events

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.

National Kidney Foundation Golf Classic Invites MAAR Members to Participate
Ready to qualify for the National Championship at Pebble Beach or just want to have a fun day at Ridgeway Country Club? Round up three of your golf-playing friends and grab the golf clubs Monday, August 25, to play in the premier amateur golf event for charity: the National Kidney Foundation Golf Classic. The tournament starts at 12:30 p.m. and uses a four-person team scramble format. USGA Handicap Index requirements are followed for those who choose to vie for major prizes, including one absolutely unique prize: the top two winning teams are invited to play in the four-day National Championship at America's No. 1 golf resort's famed Pebble Beach Golf Links! Golfers of all skill levels - men and women, scratch golfers, and high handicappers - are encouraged come meet other golfers at lunch, enjoy a great day of golf on a spectacular course, and swap stories over dinner. With your support, the National Kidney Foundation brings hope and help to the 20 million Americans who suffer from chronic kidney disease through patient and community services, advocacy, public and professional education, research, and organ donation programs. Call (901) 683-6185 for more information and to register for the National Kidney Foundation Golf Classic.

TREC Core Course (07-08)
The 2007-2008 TREC Core Course covers communication issues with customers and clients, ethical and legal guidelines for dealing with cooperating agents and brokers, recent changes in Tennessee law, common agency issues, responsibilities and liabilities of principal brokers, and what communication is and is not required in commercial transactions. This course is mandatory for all licensees required to have 16 hours of CE credit to renew their license. The TREC Core Course is approved for 4 hours CE credit and is being held Wednesday, August 27, from 8:30 a.m. to 12:30 p.m. with instructor Gary Blume. The cost is $20.  Register online.

Talk Shoppe Presents "The Mastermind Principle"
Come prepared to discuss your business goals, recent successes, and challenges at this free seminar on Wednesday, August 27, 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.

Tutor Training Session
Make a difference in the life of a child and the future of Memphis:  TUTOR!  Our Tutor Training session will be held on Wednesday, August 27, from 1:30 to 4 p.m. in the MAAR Education Center.  This session is for people who are curious about the tutoring program and just want to learn more, and for people who already know they want to tutor, or have tutored in the past, but need their annual training.  You will get all the information you need to become a tutor in either math or reading in the Memphis City Schools system for the 2008-2009 school year.  For more information, and to RSVP, contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.

So You Think You Want to Sell Commercial Real Estate? Are you thinking about joining the commercial real estate arena? Would you like to understand how to work well with commercial practitioners? What's the difference between commercial and residential real estate and what do you need to know? Come prepared with your questions about commercial real estate and have them answered by Memphis' best in a lively discussion panel event featuring Jon Albright (Investec Realty Services), Jeff Moore (Crye-Leike Commercial), Timm Stubbs (Stubbs Commercial Real Estate) and Steve Woodyard (Woodyard Realty Corp.), with moderator MAAR Director Harold Blockman of Keller Williams. This event is being held Thursday, August 28, from 2 to 4 p.m. at MAAR.  The cost is free.  Register online.

MAAR Rookie Resource: Tech Tools for New REALTORS®
Come to this two-hour session from 2 to 4 p.m. on Wednesday, September 3, to gain a better understanding of the types of technology tools agents can utilize to better service their clients and increase business productivity. Some of the technologies discussed will include: MLXchange, Web sites, IDX, domain names, laptops, smart phones, MAARdata, digital photography, social networking, and more! Register online.

Appraisal Institute Quarterly Meeting
The Memphis Chapter of the Appraisal Institute will hold its quarterly chapter membership meeting on Thursday, September 4, at noon at the University of Memphis Holiday Inn. The program will feature a presentation on Appraisal Fraud by FBI Memphis Agent Howard Marshall. Cost is $25 for guests. RSVP to aimemphis@centurytel.net by noon, Thursday, August 28. For more information call (901) 218-0782.

MAAR Annual Meeting and Election
Balloting for 2009-2010 Board of Directors members and amendments to the MAAR Bylaws will take place Thursday, September 4, at the Annual Meeting and Election. Polls open at 3:30 p.m. until a quorum in established. The Annual Meeting begins around 4 p.m. followed by a reopening of the polls and a celebration party with food, drinks, and live entertainment. Back by popular demand is the RPAC dunk tank - come dunk your broker or a MAAR board member to raise money for RPAC. Polls close at 6 p.m. and winners will be announced shortly thereafter. Information on candidates and proposed Bylaws amendments are available online. If you can't attend please download and submit an absentee ballot no later than noon on Thursday, September 4.

MLXchange & Technology

MLXchange Tip of the Week - Search Result Sorting
Are you using the sorting capabilities in MLXchange to better organize and review your search results? When viewing a Search Results page in any area of the system, you can click the title of any of the columns in grid to sort by that field. For example, clicking the "List Price" column title will sort the properties in order of list price. If you want to sort search results by multiple fields, MLXchange now contains a Multi-Field Sort button in the upper right corner of the Search Results window. Clicking this button displays three drop-down boxes from which you can choose the fields you would like to sort your data by.

Put RSS Feeds to Work for You
Keeping up with real estate news, general news, and trends can be overwhelming.  One easy way to get a handle on what you need to know is through an RSS Reader. An RSS reader allows you to have news from RSS-enabled Web sites and blogs sent directly to your RSS reader customized to your specific interests. Watch this 3.5 minute video to learn more about how RSS feeds work and how they can help you stay on top of the information you want.

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