The 1-24-12 Newsletter of the Tennessee Association of REALTORS
Editor: Pug Scoville


CONTENTS
1. TAR President Addresses Members
2. Home Builders More Confident
3. Register for TAR Spring Conference!
4. HOT LINE: Can We Still Use 2011 Forms?
5. HOT LINE: Definition of “Fee”?
6. HAPPENINGS – This Week and Next
7. Rates Continue To Fall!
8. Useful Web Links
9. Are You Being Too Hard on Yourself?

To ask a TAR Legal and Ethics Hot Line question, go to: http://tnrealtors.com/main/more_tar_services/legal_and_ethics_hotline/

For other questions about this newsletter, please use the “CONTACT” form at: http://www.tardigest.com/?page_id=4


1. TAR President Addresses Members

2012 TAR President Sue Turner discusses important policy issues in the real estate industry in a new video message to TAR members!

You can watch it online by going here: http://vimeo.com/35279922


2. Home Builders More Confident

Builder confidence in the market for newly built, single-family homes continued to climb for a fourth consecutive month in January, rising four points to 25 on the NAHB/Wells Fargo Housing Market Index (HMI), released today. This is the highest level the index has attained since June of 2007.

“Builder confidence has now risen four months in a row, with the latest uptick being universally represented across every index component and region,” noted Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “This good news comes on the heels of several months of gains in single-family housing starts and sales, and is yet another indication of the gradual but steady improvement that is beginning to take hold in an increasing number of housing markets nationwide — and that has been shown by our Improving Markets Index. Policymakers must now take every precaution to avoid derailing this nascent recovery.”

To read more, go to: http://www.nahb.org/news_details.aspx?newsID=14724

[SOURCE: NAHB]


3. Register for TAR Spring Conference!

Registration is now open for the 2012 TAR Spring Conference, at the Cool Springs Marriott just south of Nashville. This is traditionally our largest meeting of the year, and the 2012 Spring Conference offers a great education program! TEN hours of education in all!

The early-bird registration fee (for TAR members) remains a low $75! So reserve your spot NOW! For more information on the TEN hours of education offered or to register, go to: http://tnrealtors.com/main/meetings/spring_conference/


4. HOT LINE: Can We Still Use 2011 Forms?

QUESTION: What are the guidelines for use of the new 2012 forms? How long can we use the 2011 forms?

ANSWER: One should always use the most current version of the TAR form. However, there will be some carryover every year. Since you indicated that you began using the listing agreement in 2011 to get the husband’s signature, you can continue to use this form to get the wife’s signature.

HOWEVER, for any additional forms, we would recommend using the 2012 forms. Also, please remember that you can scan and email contracts since you indicated that one of the parties is located out of state and the property is being sold due to an ugly divorce. Just remember to give each party a copy of all documents.

[SOURCE: TAR’s Legal & Ethics Hot Line Attorneys]


5. HOT LINE: Definition of “Fee”?

QUESTION: On page 4 of the new Purchase & Sale Agreement, line 177, what is the definition of “fee”?

ANSWER: These are referring to homeowner’s association fees, condo association fees, PUD association fees or transfer fees that would be charged in order for the property to be transferred or sold from the seller to the buyer. More and more developments are imposing these types of fees, and it has become an issue in many transactions and sometimes a big shock at closing.

[SOURCE: TAR’s Legal & Ethics Hot Line Attorneys]


6. HAPPENINGS – This Week and Next

Jan. 25: GRI 403, Working More Effectively With Buyers (8 hrs. CE) – GCAR Office, Chattanooga. For more information or to register, go to: https://www.123signup.com/event?id=cvvby

Jan. 25: E-Pro Day 1 Course (7 hrs. CE) – CAR Office, Clarksville. For more information or to register, call 931-645-2337.

Jan. 26 – Feb. 29: GRI 401-402, Professionalism in Real Estate (16 hrs. CE) – Distance learning (E-Class) course. For more information or to register, go to: https://www.123signup.com/event?id=chvvj

Jan. 27: Professional Standards Procedures Training (3 hrs. CE) – GCAR Office, Chattanooga. This is a training session for local association Prof. Standards and Grievance committee members. For more information or to register, call 423-698-8001.

For information on the NEW 2012 GRI Program, go to: http://tnrealtors.com/main/education/gri_in_2012/

NOTE: E-Class GRI courses are NOT webinars and they are NOT “online” courses in the way that most people think of online courses. How do E-Class courses work? Go to: http://tnrealtors.com/main/education/e-class_gri_info/

Watch each week’s TAR DIGEST for schedule changes and additions!


7. Rates Continue To Fall!

Freddie Mac reports that the 30-year fixed mortgage rate fell to a new low this past week, averaging 3.88 percent, which is down a notch from 3.89 percent a week earlier! The benchmark rate has been below 4 percent for seven straight weeks. Meanwhile, the average interest on 15-year loans bumped up to 3.17 percent from 3.16 percent last week. Freddie Mac chief economist Frank Nothaft said mortgage rates were basically flat in lieu of a mixed bag of economic data reports.

[SOURCES: Freddie Mac; Information, Inc.]


8. Useful Internet Links

To access:

Back Issues of the TAR DIGEST: http://www.tardigest.com/?page_id=20

Tennessee Assn. of REALTORS: http://tnrealtors.com

TAR Education: http://tnrealtors.com/main/education/

Follow TAR on Twitter at: http://twitter.com/tnaor

TAR’s LinkedIn page: http://www.linkedin.com/groups?gid=852077&trk=hb_side_g

TAR’s page on Facebook: http://www.facebook.com/pages/Nashville-TN/Tennessee-Association-of-RealtorsR/15041383689

Online Risk Reduction Resources: http://riskreduction.wikispaces.com/

Online Resources for Association Leaders: http://leadingeffectively.wikispaces.com/

Tennessee Real Estate Commission: http://www.state.tn.us/commerce/boards/trec/


9. Are You Being Too Hard on Yourself?

We close with an interesting and timely article by Dr. Maya Bailey (“Real Estate Marketing Strategies: Stop Being So Hard on Yourself”) that appeared on Realty Times and other places this past week.

*** BEGIN QUOTE ***
Do you have to be hard on yourself in order to succeed?

When I coach real estate agents in creating their multiple six-figure incomes, I often hear this misconception: “I need to be hard on myself in order to succeed.”

…Unfortunately, however, their strategy actually works against them. Studies have shown that when we are hard on ourselves, and beat ourselves up, we actually lower our energy. This leads to decreased motivation and eventually burnout.
*** END QUOTE ***

To read Dr. Bailey’s “prescription,” go to: http://realtytimes.com/rtpages/20120118_marketing.htm

[SOURCE: Realty Times]