May 12-17, 2014
REALTOR® Party Convention & Trade Expo
Formerly called the Midyear Legislative Meetings & Trade Expo, the convention features top-name speakers, meetings with lawmakers and their staff on Capitol Hill, sessions on advancing real estate at the local, state, and federal levels, and a full-sized trade expo with hundreds of vendors. The new name reflects the success REALTORS® have had as bipartisan advocates for healthy real estate markets and thriving communities.
If you sell a home owned by Freddie Mac, you can earn an extra $1,000 above your commission — from now (February 18) through April 15. And if you represent someone who buys one, you can earn an extra $500.
“HomeSteps” is Freddie Mac’s REO division, and the government-sponsored enterprise is offering the incentives to try to clear some of its inventory in certain states, including Virginia, according to a released statement. (They’re also available in some neighboring states, including Kentucky, North Carolina, and Tennessee.)
The short sale is an important tool for helping distressed homeowners avoid foreclosure and eliminate their mortgage debt, however they can still be a bit of a mystery for borrowers. There are misconceptions and there are little-known facts.
Freddie Mac senior vice president Tracy Mooney has a detailed blog post dispelling some of the more common myths about short sales.
Among other things, she explains why “Even if you are current on your mortgage payments, you may be eligible for a short sale” and “If you meet the other eligibility requirements, you may be able to obtain a Freddie Mac short sale even though you have a second mortgage.”
FROM: NAR Government Affairs
RE: Mortgage Cancellation Tax Relief
To help promote its new Military Relocation Professional certification, NAR’s REALTOR® University is offering a discount on the one-day online core course. Instead of the usual $130, it’s only $97.50 through the end of December — a 25 percent discount. (You also need to complete two hour-long webinars and pay the application fee.)
Even better, through March 16, 2014, NAR is offering a $46 discount on that MRP application fee ($149 instead of $195).
Congratulations to Troy Brinkley of Impera Commercial and Land Company in Virginia Beach. Not only did Troy win the 2012 Platinum Commercial Sales & Leasing Achievement Award from the Hampton Roads REALTOR® Association, but NAR picked up on that. It added Troy to its list of National Commercial Award recipients, who were honored during the NAR Conference & Expo:
The NAR Board of Directors has voted unanimously to “turn the association’s headquarters into a world-class property that is intended to become the next destination building in the iconic Chicago skyline.” The vote allows “exploration” of the project, meaning the association can begin more detailed talks with its unnamed developer partner.
According to the association:
NAR has changed the requirements for qualifying for “REALTOR® Emeritus” status to include at least one year of service to the association. Until now, anyone who was a dues-paying member for 40 years would qualify; 8,149 REALTORS® currently hold the status.
REALTOR emeriti have their national dues — currently $120 per year — waived for life. (Virginia also waives state dues, and some local associations also waive them.)
Starting in 2015, to qualify for REALTOR® Emeritus status a member will have to have served at least one year on a national committee, as an NAR director, or as a Federal Political Coordinator. Through 2019, the requirement can also be met through similar service on the state level.