REALTOR® WEEKLY UPDATE

Weekly Update on PGPCNPREALTORS.com

December 4th, 2008     To view archive editions click HERE

Breaking News!

If you have not already done so, you have only 27 more days to complete your Quadrennial Ethics requirement. All REALTORS® must take NAR Code of Ethics between January 1st 2005 and December 31st 2008. Our Association will not be hosting any additional opportunities to take this class LIVE in person; however, you can still take the on-line version of the course by clicking HERE. If you have any problems accessing the on-line version or have any additional questions, please email David Logan.

New Condo Governance Form in effect January 1, 2009 -The list of documents that a condominium owner must provide upon request is expanded effective January 1, 2009 to include copy of a new governance form. Developed by the Division of Florida Condominiums, Timeshares and Mobile Homes the form summarizes governance of condominium associations. Under the Condominium Act, non-developer sellers must provide, at the seller’s expense, a current copy of the Declaration, Articles of Incorporation of the Association, By-Laws and Rules of the association, financial information and a document entitled “Frequently Asked Questions and Answers” if requested by a buyer. The buyer has three business days after receipt of the documents within which to terminate contract with the seller. The governance form will address legal requirements by governing bodies of condominiums ranging from the role of the condominium board in conducting day-to-day affairs, voting rights of owners, and rights and obligations of the condominium board to enforce its own rules.  Member inquiries regarding this form should be directed to the FAR Legal Hotline.  FAR will make this form available at www.floridarealtors.org as soon as it is completed by the Division.   FAR’s legal & public policy departments are on top of these changes as to comply with laws that are going into effect January 1, 2009, the FAR-9 will need to be revised as will some others.  Release date of the updated forms will be noted in EarlyBird in December.

Last Week’s Winner!!

Alice Keel- $50 Simon Mall Gift Card, compliments of Odette Embury with Calusa National Bank. Please email, call (255-8558) or stop by Calusa National Bank to pick up your prize! Remember, you can't win unless you enter and it only takes a few seconds. See below for this week's drawing compliments of Marcia Cullinan of National Bank of Southwest Florida.

Business Sponsor: Marcia Cullinan – National Bank of SW Florida

Please click HERE to enter for a chance to win a $20 gift card to BIN 82 compliments of Marcia Cullinan and National Bank of SW Florida. Marcia Cullinan is the Vice President of Residential Lending at National Bank of Southwest Florida. National Bank of Southwest Florida is a local community bank which was chartered in June of 2007. We specialize in personalized service and competitive pricing on residential, commercial and consumer loans, along with comprehensive personal and business account programs. Stop in to see us at our brand new location, where Midway meets Kings Highway, or call to talk with Marcia about our conventional and portfolio lending products at 941-258-3474.

Education Corner

Know your Contracts - Do you know what each paragraph in a sales contract means? "Your knowledge of the contract protects the buyers, the sellers and you," says Nancy J. Riley, a Realtor for more than 30 years, 2007 FAR president and a member of the state's Taxation & Budget Reform Commission. If you're not clear about a contract, talk with your broker or take classes through your local association. The next Contract Class is available locally on January 26^th, click HERE for details. Click HERE for more from Nancy Riley on video.

Making the most of your Mid-Florida Membership? Sign up for additional FREE training and unlock the tools to help you succeed! See the list of FREE Mid-Florida educational opportunities. Courses include “Design Web Page”, “iMapp: interactive tax and mailing labels”, “Tools: MongoFax, RatePlug, ShowingTime and MLX Wireless ”, “Creating a Professional CMA”, and “MLXChange Advanced”. Most classes are HANDS ON with laptops provided. This additional training is included in your Mid Florida membership, so do not miss out on these opportunities. Click HERE for class schedule, additional details and to reserve a seat. There are still spaces available for December classes; sign up soon seating is limited.

Need Advice on Technology?What technology should you buy to help you succeed? And who can you call for help when it goes haywire? As a Realtor in Florida, you get exclusive, no-fee access to tech help from FAR from 9 a.m. to 5 p.m. Monday through Saturday. Technology Helpline experts advise you on purchasing hardware, software and digital equipment and then help you install and troubleshoot your computers and gadgets. Put this number on Speed Dial: (407) 587-1450.

Visit the Education Calendar for full course offering and details.

Business Partners

Our Association is blessed to have an amazing variety of Business Partners who help us serve our clients every day. Our business partner’s also work very hard to help sponsor various Association events which provide everyone with a better experience. When was the last time you contacted one of your Business Partners to find out what is going on in their industry? There is no better resource for your business than Your Business Partners. We are blessed to have professionals from all the affiliated industries which help to support and improve your business. Also, if there is a business that you regularly work with who is not a business partner, ask them why they are not taking advantage of this opportunity and have them email david-logan@comcast.net to get more information. Remember, we are all in this TOGETHER! See the Business Partner page on our website to contact someone today.

Where in the World is……

Debra Mann Suncoasteam Realty

Women’s Council of REALTORS®

Meetings 1st Wednesday of each month 11:30am

Don’t miss the Caravan.

Market Watch

Foreclosures - Gov. Charlie Crist called a press conference to announce that Florida's bankers and credit unions would suspend foreclosing on homeowners for the next 45 days. The moratorium covers only homesteaded owners who need the help. Read the full story HERE.

Who can modify home loans? - Who owns mortgages and, by extension, the right to modify the loan's terms? A lawsuit seeking class-action status was filed in New York yesterday, claiming that investors who bought mortgage securities actually own them, and Countrywide and other lenders don't have the right to unilaterally harm investors in order to help homeowners. Read the full story HERE

Mortgage Rates - Rates on 30-year mortgages sank for a fourth straight week last week, falling below 6 percent for the first time since early October and heading lower, according to Freddie Mac's weekly nationwide survey. Read the full story HERE

It pays to know: The International Market - Did you know that international buyers made up 29 percent of the state's recent home sales, according to the "2008 NAR/FAR Profile of International Buyers in Florida"? This recently released study points out regional variations in the international market, such as where buyers from Canada, the United Kingdom and Latin America are most active. It's a great way to learn more about your local market. Download the report here.

JUST SAY NO - If sellers refuse to budge on a too-high asking price or won't make necessary improvements, many real estate brokers now urge agents to turn down the listing. The decision to accept a listing must be viewed as a business decision, according to Libertyville, Ill.-based broker Mike Stodola of Koenig & Strey GMAC. "We have to look at properties and values and be very honest with sellers," he says. "If they have a higher [price] in mind, we wish them luck. We've had to make the decision to walk away." Even though the housing slump means agents need new business, experts point out that certain listings will cost them too much time and money. "When you're doing [mailings, advertising, open houses] on a weekly basis and homes are sitting there for six, nine, 12 months, the costs skyrocket," says Stodola.
Source: Hartford Courant (CT) (11/30/08) Umberger, Mary © Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688  

MLS TIP OF THE WEEK

Would you like to know how to make a Quick Statistical Report based on your MLS search? Click HERE for detailed instructions on how to use this simple and effective MLS tool.

Real Estate Trivia

This Week’s Question

Last Week’s Question(s) (TV Real Estate Edition part 2)

Questions: Do you know what TV characters lived at the following addresses?

Answers: