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Archive for May, 2008

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Imagine having access to listings across the Southland in one place and in one data feed. It was announced today that the CARETS IDX data feed for brokers is on schedule to be delivered on June 2, 2008. This historic event will mark the first time the full listing data from participating MLSs throughout most of the Southland will be available in one data feed.

After delivery of the IDX data feed, work will begin to aggregate listing data from each MLS into the CARETS “super” data set. In the September/October timeframe all listings will be available within MRMLS Matrix. The CARETS data set will cover all property types, all statuses, and all history. Come see the proof-of-concept at the CARETS booth at the CAR Expo, June 4th– June 5th in Sacramento.

Questions and Answers:

Q. What is IDX?
A. IDX stands for “Internet Data Exchange” and is a downloadable raw data feed that allows you to customize the way listings are displayed on your website.

Q. When will CARETS IDX be available for Agents?
A. The CARETS IDX feed for agents will follow Mid-Summer.

Q. Which MLSs are participating in CARETS?
A. The following MLSs are participating and more are in discussions:

  • CRISNet (San Fernando Valley)
  • CLAW (Combined Los Angeles/Westside)
  • I-Tech (Glendale and Pasadena)
  • MRMLS (Multi-Regional Multiple Listing Service)
  • SoCal MLS (Orange County and parts of Los Angeles County)

Q. How can I get more information on CARETS?
A. Go to the CARETS website at www.ca-rets.com.

Q. Will I be able to get Northern California Listings?
A. Yes. The participants in the MLS Alliance are also working with CARETS, including the listings from Quatro (San Jose/San Francisco) and MLS Listings, Inc. (Santa Clara).

Posted by Daniel Brincat on May 30, 2008 at 8:01 am under Announcements, Events, iDate, IMRMLS, MLS, News.
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Supra Key Exchange Coming Soon!

Please read carefully. This affects your business.

Its coming! The new ActiveKEY from GE Supra will be replacing the retiring DisplayKEY (D-Key).  We are holding the exchange event at Pechanga June 23-25. You will receive an email from us with the details of your exchange.

Some of the features:

  • Wireless updates continuously and automatically
  • No more cradles
  • Seamlessly connects across all cellular towers
  • Read KeyBoxes at listing
  • Opens KeyBoxes in areas without cell coverage
  • Flashlight illumination for dark doorways

Please watch for future communications regarding your Supra ActiveKEY exchange dates and times.

For additional information on the NEW Supra ActiveKEY, download the ActiveKEY Brochure below or you may always call us at 951-894-2571.

Thank you,

Southwest Riverside County
Association of REALTORS®

More ActiveKey Information:

Posted by Daniel Brincat on May 29, 2008 at 2:34 pm under Announcements, Events, Supra.
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NAR NEWS

Almost 50 Metros Show Home Price Gains
One out of three the metropolitan areas in the U.S. showed rising home prices in the first quarter, with only a small number of jumbo loan originations and higher foreclosures resulting in mixed conditions around the country, NAR’s quarterly survey shows. Median existing single-family home prices were up in the first quarter in 48 out of 149 metropolitan statistical areas; 100 had price declines; one was unchanged. “It’s more important than ever to examine what’s happening with home prices at the city and neighborhood level,” says NAR President Richard Gaylord said.

Commercial Real Estate Index Contracts
Although fundamentals are sound, activity in commercial real estate markets is expected to ease in the months ahead, according to a forward-looking index for the commercial real estate sectors published by NAR. The Commercial Leading Indicator for Brokerage Activity edged down 0.7 percent to an index of 119.0 in the first quarter from a downwardly revised reading of 119.9 in the fourth quarter, and is 0.8 percent below the first quarter of 2007, when it stood at 120.0. “The moderate erosion in the index suggests that commercial activity, as measured by net absorption and the completion of new commercial buildings, will be positive but somewhat weaker over the next six to nine months,” says NAR Chief Economist Lawrence Yun. “Private nonresidential investment in structures is likely to subtract one-third to one-half percentage point off GDP growth. Along with the impact of the credit crunch, a weakening in leasing and building sales activity should come as no surprise because commercial real estate follows changes in overall economic activity.”

BOD Report: Property Library Advances
The NAR Board of Directors at the association’s 2008 Midyear Meetings in Washington last week took actions to position REALTORS® for the future. Among other things, the directors gave the go-ahead for a ‘proof of concept’ of a national property repository and positioned NAR to advance real estate interests as Congress debates immigration matters. The directors also revised the national association’s nomination and election procedures. Read about the board’s key actions in the Special INS distributed immediately after the meeting.

Meet the 2009 Officers, Regional Vice Presidents
The board elected the national association’s slate of officers for 2009, headed by Charles McMillan of Texas as president, Vicki Cox Golder of Arizona as president-elect, Ron Phipps of Rhode Island as first vice president, and Jim Helsel, Jr. of Pennsylvania as treasurer. The association’s newly elected RVPs are, for Region 1, Bonnie Guevin, Manchester, N.H.; Region 2, Joseph Canfora, East Islip, N.Y.; Region 3, Dale Ross, Potomac, Md.; Region 4, Jayne Cox, Lancaster, Ky.; Region 5, Russell Grooms, Jr., Jacksonville, Fla.; Region 6, Cathy Sherman Bittrick, Grand Rapids, Mich.; Region 7, Stan Sieron, Belleville, Ill.; Region 8, Scott Louser, Minot, N.D.; Region 9, Doug Smith, Little Rock, Ark.; Region 10, Connie Kyle, Baton Rouge, La.; Region 11, Keith Kelley, Las Vegas, Nev.; and Region 12, Toby Bradley, Santa Barbara, Calif.

ISSUE UPDATES

Stimulus Clears Hurdle with Senate Committee Passage
NAR-backed legislation to stimulate the economy through an expanded use of FHA mortgage insurance, a new tax credit for home buyers, and reform of FHA and the secondary mortgage market companies’ oversight has passed the Senate Finance Committee, positioning the bill for consideration on that chamber’s floor. The House passed its version of the bill earlier. Should the legislation pass the Senate, the two versions will have to be reconciled. Among the differences: the Senate tax credit is for $7,000 and applies to foreclosed property purchases (for principal residence only, not investment), and the House version is for $7,500 and applies to all properties (as principal residence) but buyers must be first-timers. “Our 1.2 million members appreciate the hard work and commitment of Senate Banking Committee Chairman Christopher Dodd, D-Conn., and Ranking Member Richard Shelby, R-Ala., for advancing legislation that will help people buy and keep their homes,” NAR President Richard Gaylord said in a statement.

Declining Markets Reversal to Help Stressed Areas
Fannie Mae will no longer require borrowers to put up an extra 5 percent down payment when purchasing homes in areas deemed “declining markets,” the country’s largest secondary mortgage market company said last week. Fannie Mae had been hearing concerns from REALTORS® and others for months that the policy was bad for housing because it discouraged consumers from buying in markets hardest-hit by foreclosures. NAR met several times this spring with Fannie Mae officials and sent letters reflecting members’ unease with the policy. “We heard the concerns of NAR and we reviewed and determined that changes in our policy were needed,” Gwen MuseEvans, Fannie Mae vice president for credit policy and controls, said in a statement. Under the policy change, borrowers can get loans up to 95 percent loan-to-value, even in markets in which prices have been falling. Prior to the change, borrowers could only get loans up to 90 percent to give lenders a 5-percentage-point cushion to protect against possible price declines in the future. The new policy takes effect June 1, and Freddie Mac has said it also is scrapping its policy.

NEW RESOURCES

State-by-State Fiscal Conditions, Loan Performance
NAR Research has several research products to help you understand underlying market conditions in your state. Two new ones of interest to your members are “State Fiscal Conditions and Taxes,” which looks at state budget shortfalls and examines how property tax and transfer tax increases may affect home sales and values, and “State Subprime ARM Performance,” which looks at expected resets this year and next and the depth of potential problems in your state.

President Gaylord Interviews Ebby Halliday
Learn how long-timeTexas broker Ebby Halliday has thrived during her 63 years in real estate brokerage and how the 97-year-old real estate icon remains at the forefront of the industry. Watch her popular interview with NAR President Dick Gaylord at the 2008 NAR Midyear Legislative Meetings & Trade Expo last week.

LEGAL

Firm Can Represent Multiple Buyers
A brokerage didn’t breach its duty to its client by representing multiple buyers competing for the same property, the Court of Appeals of New York ruled.

FSBO Web Site Doesn’t Need License
The State’s licensing real estate brokerage licensing requirements did not apply to a FSBO Website, the United States District Court for the District of New Hampshire ruled.

No Fair Housing Immunity for Roommate Web Site
An apartment finding Web site that requires users to disclose their housing preferences wasn’t protected by a federal statute from alleged violation of the federal Fair Housing Act, the United States Court of Appeals for the Ninth Circuit ruled, partially reversing the trial court. It remanded the case back to the trial court for further proceedings on the question of whet.

Posted by admin on May 21, 2008 at 10:44 am under Uncategorized.
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  1. LH/PH: Access to Listing and Property History on the Agent 1 Line display has moved to the DOM/CDOM column. For example, if you see 30/50, click the “30” to see the Listing History and click “50” to see the cumulative Property History. (Week of May 12, 2008)
  2. Open House Mapping: The Map icon is now available in Open House. Click the icon to see the property location on a street map or to get an aerial view of the property. If you press the Map button all selected listings will be plotted on a single map. (Week of May 12, 2008)
  3. Number of Units Total: The Number Units Total field on the Residential Income results screen moved from the Land Section to a more logical position directly on top of the Number of Buildings Total. (Week of May 12, 2008)
  4. Duplicate Listing Notification: If duplicate listings are found in the system, MRMLS Matrix will automatically send a violation notification to the appropriate parties as per our agreement with your Association/Board. (Week of May 12, 2008)
  5. Agent 1 Page: Since it prints on a single page, the Agent Full Abbreviated Report and Display will be renamed to Agent 1 Page. (Week of May 19, 2008)
  6. Backup: When you change listing status to Backup you will be required to enter estimated sell information. If you do not update the status prior to the Expected Sell Date, the listing will be marked as “B*.” (Week of May 19, 2008)
  7. Contingent: The Contingent status is being phased out and will no longer be used at MRMLS. Search and other functionality pertaining to Contingent will be removed once all current Contingent listings are changed to Active or Pending as part of their normal course. (Week of May 19, 2008)
  8. Lot Size Options: The Lot Size Options in the Lot/Community field will be removed from Add/Edit and Search since you can enter the actual lot square footage in the Lot Square Footage field. (Week of May 19, 2008)
  9. ValueMap: Realist ValueMap will provide automated property value estimates to you or to clients on your website. (Mid-May 2008)
  10. PinPoint Mapping: The replacement for Smart Map will be made available in the next couple of weeks. (Kick-off Web Conference Round Table with the vendor as well as Training will be held online May 29, 2008 at 10:00AM (To sign up go to: www1.gotomeeting.com/register/181915037)

Posted by Daniel Brincat on May 19, 2008 at 7:37 am under iDate, IMRMLS.
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MRMLS Members would never intentionally commit a violation against the MRMLS Rules and Regulations, but we know it happens. Below are the most common violations and how to avoid them:

  • Property Description Violations: The only text that can be entered into the Property Description field is the physical description of the property and/or sale terms like Foreclosure, Short Sale and Bank Owned.
    • TIP: Do not enter the following in the Property Description field:
      • Contact Information
      • Open House Information
      • The word “Vacant”
  • Commission Violations: You cannot enter an offer of compensation that is based on the net sales price.
    • TIP: Do not enter anything that can be seen as a Conditional Offer of Compensation in either the Property Description or Agent Remarks fields. Common mistakes include phrases similar to the following:
      • “APPROVAL, OF AN OFFER SUBJECT TO BANK’S APPROVAL. COMMISSION TO BE VARIABLE AND TO BE SPLIT EQUALLY ON 6% OR LESS.”
      • “Commission & sale price subject to bank approval. Commission to be split 50/50 between selling office and listing office.”
      • “All Terms, including brokers commission, subject to lender’s approval.”

      Note: Language similar to the above can be used for Short Sales only. Contact your Association/Board for exact wording.

  • No Photo Violations: A photo of the exterior of the structure must be included in the listing.
    • TIP: Do not wait! Add a photo of the exterior of the structure when you enter the listing or very soon thereafter. The listing must have a photo within ten days.
  • Incorrect Information Violations: To the best of your knowledge all information in the listing must be correct and true. Common mistakes include incorrect APN# or Area#.
    • Crosscheck the APN (Assessor’s Parcel Number) with Realist Tax to make sure you have the correct APN for the property.
    • Make sure you list the property in the correct marketing area. Do not enter a nearby area that is more desirable just to get more exposure.

Posted by Daniel Brincat on May 9, 2008 at 3:12 pm under iDate, IMRMLS.
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The minutes from April ’08 have been posted for both the SRCMLS and SRCAR Corporations.

SRCAR: http://www.srcar.org/srcar_minutes.asp

pfd 04-07-2008

SRCMLS: http://www.srcar.org/srcmls_minutes.asp

pdf 04-07-2008

Posted by Daniel Brincat on May 9, 2008 at 11:58 am under Announcements.
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The Bylaws for the Southwest Riverside County Association of REALTORS® were
approved by the membership and effective as of March 1, 2007. With the upcoming
Nomination process just around the corner and the elections for the Board of Directors
scheduled for July, please be advised of the following section of the Bylaws regarding
Qualifications for Service as a Director of SRCAR.

Section 5. Qualification for Service as Director. To be nominated for elective office and serve as a Director, a person must meet the following qualifications:

  • Must be a REALTOR® member in good standing whose monetary obligations are paid.
  • Must have served on at least one (1) committee of the A.O.R. or a predecessor association of the A.O.R., or on at least two (2) task forces or Special Committees of the A.O.R. within the previous five (5) years.
  • Must not be concurrently or simultaneously nominated, elected or serving on a board of directors of another REALTOR® Association.
  • Must not be a member of a current Director’s immediate family, unless the current Director’s term will expire prior to the commencement of the term of office being sought.
  • Shall not be eligible to serve if at the time of the election his or her license (broker or salesperson) is with the same Designated REALTOR® Broker as four (4) other Directors, including the Designated REALTOR® Broker(s).
  • Shall not serve more than two (2) consecutive three-year terms.
  • Shall have electronic mail capability in order to receive notices and information from the A.O.R. and the Chief Executive Officer.
  • Shall be available and willing to serve on committees and task forces.
  • Shall attend a Directors Orientation and a Professional Standards Seminar.
  • Shall sign the A.O.R.‘s Confidentially Agreement and Conflict of Interest Code prior to taking office.
  • Directors are strongly encouraged to, at a minimum, make an annual voluntary donation and participate in the C.A.R. political action fund(s).

Should you have any questions or need additional information regarding the Qualifications for Service as Director, please feel free to contact me. Thank you.

Download the PDF

Posted by Daniel Brincat on May 8, 2008 at 9:24 am under Announcements.
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The Southwest Riverside County Association of REALTORS® is seeking REALTOR® members in good standing who wish to serve on the 2008 Nominating Committee of SRCAR. The purpose of this committee is to review the 2008 Candidate Forms and select a slate of qualified candidates to be presented to the membership for their consideration.

Voting for the 2008 Board of Director candidates will take place online from 5:00 p.m. on Friday, June 27, 2008 through 5:00 p.m. on Friday, July 27, 2008. The results of the 2008 Elections will be announced at the SRCAR Annual Meeting on Tuesday, July 29, 2008 at Pechanga Resort and Casino.

Interested SRCAR REALTOR® members wishing to serve on this Committee should be aware that you must meet with the committee two to three times between May 26, 2008 and May 29, 2007. The report of the Nominating Committee shall then be mailed to each member eligible to vote at least four (4) preceding the election (June 1, 2008). In accordance with the Bylaws of SRCAR, no member of the Nominating Committee may not be a candidate for the Board of Directors.

If you are interested in serving on this committee or have questions regarding the Nominating Committee or election process, please contact 2008 Nominating Committee Chair, Karen Nelson at 951-303-3000 or via email at karen.nelson@camoves.comor Nancy Donahue Jones, CEO at 951-894-2571 or via email at nancy@srcar.org by Friday, May 23, 2008.

Interested members, please download the information here.

Posted by Daniel Brincat on May 8, 2008 at 9:12 am under Announcements.
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YOUR ASSOCIATION NEEDS YOU! Qualified members, interested in serving as a Director to the
Southwest Riverside County Association of Realtors®, are urged to complete and return this Candidate
form.

The Nominating Committee, chaired by Past Chairman of the Board, Karen Nelson, will begin holding
meetings in the very near future to begin the selection of the slate for Directors for 2008.

There will be three (3) vacancies on the Board of Directors beginning January 2009. Each position will
be for a term of three years.

Interested members, please download a copy of the Candidate Request Form here.

Posted by Daniel Brincat on May 8, 2008 at 9:04 am under Uncategorized.
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2008 Southwest Riverside County Association of REALTORS® & Affiliates High School Scholarship Fundraiser Bowling Event

Bowling

Tuesday, June 3rd, 2008
3:00-5:30pm
Cal Oaks Bowl
40440 California Oaks Rd., Murrieta

$25.00 a Bowler

Includes: 2 games (no tap), shoes, ball, pizza & soft drinks

“All profits go to the affiliate’s high school scholarship fund”

For more information please contact: Gary Matlock: 951-288-4007

Download the Flyer

Posted by Daniel Brincat on May 8, 2008 at 8:37 am under Events.
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