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 Daniel Allen  Tuesday, December 29th, 2009 The ‘Right Tools, Right Now’ initiative is back in 2010 to help you and your business find continued success. In the coming year, you’ll find even more great FREE or AT-COST offers, updates to existing NAR products and resources, plus valuable tips on how to make the most of Right Tools, Right Now.
If you haven’t taken advantage of the ‘Right Tools, Right Now’ initiative, now is the time to jump on board and discover the value you’ve been missing.
Visit the ‘Right Tools, Right Now’ homepage to see all FREE and AT-COST products and resources that are part of NAR’s ‘Right Tools, Right Now’ initiative, established by NAR to support its members. Listings are updated monthly, so check back often!
These special product prices are exclusively available to REALTORS®. To access these and the hundreds of other downloadable products for FREE, member login is required at the REALTOR.org website.
Use this link to view new videos about Right Tools, Right Now and learn how to benefit more from this initiative.
Continue reading: Get Even More Value from Right Tools, Right Now in 2010
Steve Goddard Wednesday, December 23rd, 2009
Fannie Mae and Freddie Mac will suspend foreclosure evictions from December 19, 2009 through January 3, 2010. To help struggling families over the holidays, both owner-occupants and tenants living in properties foreclosed upon by Fannie Mae will not be evicted. Freddie Mac’s suspension of evictions will be limited to properties up to four units.
In a similar move, Citigroup Inc. will suspend foreclosure sales and evictions for 30 days through January 17, 2010 for loans it owns. Citigroup’s foreclosure moratorium, however, does not extend to loans it services on behalf of other investors. Given these developments, other lenders may follow suit, so check with the lender if appropriate.
Continue reading: Lenders to Halt Foreclosure Evictions Over the Holidays
Steve Goddard Tuesday, December 22nd, 2009
REALTORS® and their clients who encounter unlawful or unprofessional conduct by an appraiser may file a confidential complaint with California’s Office of Real Estate Appraisers (OREA). Since implementation of the Home Valuation Code of Conduct (HVCC) in May 2009, REALTORS® have reported many challenges and difficulties with appraisals, such as low appraisals, inexperienced appraisers, out-of-area appraisers unfamiliar with a local neighborhood, and problems with Appraisal Management Companies (AMCs). Appraisers are regulated by the OREA, and starting January 1, 2010, a new law directs the OREA to develop a registration process and other regulations to oversee AMCs as well.
A complaint of appraiser’s misconduct may be filed with the OREA. The complaint may be made confidentially, but proper prosecution may ultimately require the complainant’s testimony in a legal proceeding.
Continue reading: REALTORS® May File Confidential Appraiser Complaints
Janelle Fallan Friday, December 18th, 2009
Some 200 Members of both the Sacramento Hispanic Chamber of Commerce and the Sacramento Association of REALTORS® enjoyed a mixer at the SAR office on December 9. The mixer was organized by SAR’s Equal Opportunities Committee.
To help the Hispanic Chamber Members learn more about what SAR has to offer them, volunteers shared information on: Scholarship, CanTree, H.E.L.P. and other down payment assistance programs, Young Professionals Council, Leadership Development, and why they should always use a REALTOR®.
Continue reading: SAR Hispanic Chamber of Commerce Mixer
Erin Attardi Friday, December 18th, 2009
 Erin Attardi Did you attend the YPC CanTree Fundraiser – Dancing Through the Decades? If not, you missed a fantastic event! Aside from enjoying great wines with tastings offered by Carvalho Family Winery, Revolution Wines, and Ehrhardt Estates; delicious food provided by BJ’s Brewery, Tokyo Fro’s, and Zocalo; dance music mixed by our very own DJ Rico Rivera; and a silent auction with items provided by numerous local donors, everyone had a great time…AND we raised over $4,000 for the Christmas CanTree!
On another note – It’s official! Recently our Young Professionals Council received word that it has been officially recognized by the National Association of REALTORS® as the Sacramento Chapter of its Young Professionals Network. I have had the chance to meet the leadership of other NAR YPN chapters at various events this year, and there are going to be some fantastic offerings from YPN in the time to come.
Reflecting on 2009, I am extremely proud of what our Young Professionals Council has accomplished! We have raised thousands of dollars for charitable causes, and have given REALTORS® and Affiliates a forum to network and exchange ideas. Did you know that we have been able to engage hundreds of SAR members at our forums and events? I am very much looking forward to being your YPC Chair in 2010 and I know that Nikki Chapman is also looking forward to being YPC Vice-Chair.
Continue reading: Young Professionals Council – December 2009
Tony Vicari Wednesday, December 16th, 2009
For the first time in over three years, the single family home median sales price made an increase year-to-year, signaling a possible end to the home price freefall.
Single family home sales decreased 16.1% month-to-month, totaling 1,439 units in November – 277 less than October. Year-to-year, the current figure is also 16.1% below the 1,716 sales of October 2008. Of the 1,439 sales this month, REO sales made up 40.2% of the total sales while short sales and conventional sales made up the remainder of sales at 21.5% and 38.3%, respectively. When compared with October, REO sales decreased slightly while short sales and conventional sales showed slight increases.
Continue reading: Single Family Home Median Sales Price Higher Than One Year Ago
Caylyn Brown Wednesday, December 16th, 2009
2010 C.A.R. President Steve Goddard sent out the following letter concerning short sales:
Dec. 16, 2009
Dear C.A.R. Member:
I wanted to bring to your attention some important details about the recently announced Home Affordable Foreclosure Alternatives program (HAFA), which provides instructions for lenders and servicers participating in the Making Home Affordable Program and [...]
Chris Ly Wednesday, December 16th, 2009
Written by Kenneth R. Harney
HUD Secretary Shaun Donovan made it official last week: Applicants for FHA insured mortgages in the coming months are going to be hit with higher costs and tougher credit standards.
In congressional testimony, Donovan said some of the changes are likely to include the following:
Number one: Higher downpayments. The current minimum is 3.5 percent. Donovan didn’t say how much higher the agency might push it, but congressional critics want to see at least a five percent minimum.
Number two: Look for FHA’s generous “seller concessions” to be cut in half — from the current six percent to three percent of the loan amount — and maybe even lower.
Continue reading: Washington Report: Higher Costs, Tougher Standard
Janelle Fallan Wednesday, December 16th, 2009
A proposal to create an Auxiliary Membership for home buyers and home sellers was recognized as a “game changing” idea by the National Association of REALTORS®.
NAR received more than 200 submissions. Fourteen associations, including the Sacramento Association of REALTORS®, received grants to undertake their chosen projects.
Nelson Janes, Sacramento AE, had long thought that Members’ clients, both buyers and sellers, could also benefit directly from the Association’s services. The Auxiliary Membership will be provided through REALTOR® Members and will not available any other way.
Upon taking a listing, the seller’s REALTOR® gives a Membership to the seller. Upon entering an agency relationship, the buyer’s REALTOR® gives a Membership to the homebuyer.
The Auxiliary Membership includes access to a website with Members-only information on preparing their house for sale, real estate statistics and demographics and new legislation affecting private property rights. Also included is access to affinity programs and discounts developed by the local Association.
Continue reading: SAR Awarded NAR “Game Changer” Grant
Steve Goddard Wednesday, December 16th, 2009
 Steve Goddard - 2010 C.A.R. President
Dear C.A.R. Member:
I wanted to bring to your attention some important details about the recently announced Home Affordable Foreclosure Alternatives program (HAFA), which provides instructions for lenders and servicers participating in the Making Home Affordable Program and Home Affordable Modification Program (HAMP).
HAFA helps standardize the short sale and deed-in-lieu process by creating an alternative to foreclosures for homeowners unable to successfully modify their troubled mortgage under HAMP.
Although not perfect, the program reflects C.A.R.’s efforts in the federal arena to standardize the short sale process, protect your business, and safeguard commissions. It also makes clear the timeframes by which servicers must respond to an offer on a short sale.
The HAFA program will permit pre-approved short sale terms before a property is listed; prevent servicers from attempting to reduce real estate commissions established in the listing agreement as a condition for short sale approval; release borrowers from future liability for the debt; and provide financial incentives to borrowers, servicers, and investors.
Continue reading: C.A.R. Update on Home Affordable Foreclosure Alternatives Program
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