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Roanoke Valley REALTOR�
Online
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Greetings!
You are receiving this online newsletter as a benefit of being a member of the Roanoke Valley Association of REALTORS�.
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Member Type | Count ------------------- REALTOR� 1,106 Offices 125 Affiliate 121 Click here to see which RVAR members have switched firms, gone inactive, or joined recently. |
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FHA Insurance Premiums Going Up April 9th
FHA has announced an increase in two fees that borrowers pay. Starting April 9th, FHA will increase its annual mortgage insurance premium for loans under $625,500, bringing the total cost from 1.15% of the loan amount to 1.25%. Also effective April 9th, FHA will raise the upfront mortgage premium from 1% to 1.75% of the loan amount. Click here to read rest of article. Note: This increase was originally scheduled to become effective April 1st, but has been delayed one week to Monday, April 9th.
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MLS Changes Coming April 2nd
The following changes to the MLS system and rules have been approved and will be implemented by Monday, April 2nd. Watch the MLS Bulletin Board for further details.
Green Building and Energy Ratings: The MLS has previously announced the introduction of additional fields related to green building and energy ratings. These additional fields are the result of a partnership between the Roanoke Regional Home Builders Association and RVAR's MLS Policy Committee.
Copying Listings and Photos: The #1 complaint received by the MLS lately relates to the copying of photos (e.g., when the 'new' listing agent copies the photos from the previous listing agent.) As of April 2nd, a feature in FlexMLS will be activated to limit an MLS users' ability to copy listings (including photos) to only those listings within his/her own company.
MLS Grace Period: As of April 2nd, the MLS Monitoring Guidelines will provide a two-day grace period in which a violation may be corrected, thus averting a $100 fine. This grade period will apply
to most, but not all, MLS Monitoring violations. Monitoring violations are emailed to the listing agent, with a copy to the broker. For example, the MLS Monitoring Committee emails a violation notice indicating the agent had failed to change the status of a pending listing to sold within the required time frame. The agent has two full business days in which to correct the listing. If corrected, then no fine will be imposed. If not corrected, a $100 fine will be imposed -- though the agent still retains the right to appeal the violation. Click here for an updated version of the MLS Monitoring Guidelines. The MLS Rules & Regulations will be updated prior to April 2nd and made available on the MLS Bulletin Board and on RVAR.com.
Owner of Record Rule: The MLS Rules currently require the name of the legal owner as deeded to be reflected in the MLS listing. As of April 2nd, the rules will be changed to require the name of the legal owner or the legal owner's authorized representative to be reflected in the MLS listing. The reference to "as deeded" will be eliminated.
Virtual Tours and Videos: As of April 2nd, the MLS Rules related to Virtual Tours will be expanded to include videos. Branded virtual tours or videos may contain agent and office promotion or identification. Unbranded virtual tours or videos may only contain photos or other forms of marketing pertaining to the property.
Owner Financing: Already approved and slated to be implemented in the second quarter is the addition of a check box in the MLS for "Owner/Seller Financing Available". This check box will not be a
required field.
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Your SUPRA Bill is Due
Supra invoices for $67.23 (for the period 3/12 - 9/11/2012) were due on March 12th. Anyone who has not paid by Monday, April 2nd will have their key deactivated by Supra.
Supra offers three ways to pay:
1. You can make your payment 24/7 at their secure site www.supraekey.com.
2. You can call Supra's 'pay by phone' service at 1-877-699-6787. This automated service is also
available 24/7.
3. If preferred, you can reach a billing representative at that same number, M-F, 9AM-8PM.
No payments can be made at the RVAR office; all payments must go directly to Supra.
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RPR is Here!
REALTORS� Property Resource (RPR) is now available -- and was introduced at the Tech Forum last week. RPR is NAR's exclusive online real estate database, with data on every parcel of property in the United States. This NAR member benefit is free of charge -- and for REALTOR� eyes only.
Step 1: You can logon to RPR today. Simply go to www.narrpr.com. If you already have a password for logging into NAR's website Realtor.org, then you will use that password. If you don't, then you will set up a login -- and will need your NRDS number. NRDS (National REALTOR� Database System) is NAR's unique identifier for you. If you don't have that number handy, it's on your REALTOR�
magazine label -- or just call the RVAR office. NOTE: All REALTORS� may access RPR -- but only those who participate in the MLS will be able to see the MLS data contained within RPR.
Step 2: Look up your house, your office building, your listing. In addition to public tax data, you will see information about neighborhoods, schools, flood maps, investment analysis etc. When you look up properties within the Roanoke Valley, you will be able to see public records + MLS records. When you look up properties outside of our area, you will only see public records information.
Step 3: RPR needs another 30-45 days to complete its work with our MLS data. Once complete, access to RPR will then become available as a tab within FlexMLS. REALTORS� without MLS access may continue to access RPR as described in Step 1.
RPR has much to offer -- and we have much to learn about its many features. Stay tuned for updates on RPR.
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Join Us for REALTOR� After Hours at the Lake
It's SPRING, It's Spring, it's spring! And it's time for REALTOR� After Hours.
When: Thursday, April 26th - 5 to 7 PM
Cost: FREE
Where: BRIDGEWATER BAY CLUBHOUSE,
Bridgewater Bay, Smith Mountain Lake
Sponsored by Atlantic Bay Mortgage Group
Come enjoy good music, sponsored by Acquisition Title & Settlement, food, beverages and lots of good conversation. Click here to register.
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Classes on Green Building and Energy Ratings
As noted above, the MLS will be introducing additional fields related to green building and energy ratings next week. To help members become more knowledgeable about these changes, RVAR's Education Committee, in conjunction with the Roanoke Regional Home Builders Association, is offering free training classes. (The class will be offered twice at the RVAR office and once at Westlake Country Club.)
The 90-minute class will focus on four green building certification programs: EarthCraft, LEED, Passive House and National Green Building Standard. The class will also cover two energy rating systems (which are not exclusive to new construction): HERS Score and Energy Performance Score. The instructor for these classes will be Rich Backus of Timber Ridge Craftsmen.
Click here for more information or to register click on dates below:
March 27th @ RVAR from 9AM-10:30AM
April 3rd @ Westlake Country Club from 2PM-3:30PM
April 4th @ RVAR from 9AM-10:30AM
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More Education Coming
GRI 408 Tax & Investment Strategies for Real Estate: This March 29th course offers useful advice and strategies on tax issues for real estate professionals, homebuyers, sellers and investors. (CE 7 hours real estate related; PL 7 hours elective credit)
GRI Plus Tax Course: And if you already have your GRI designation, then you can take advantage of the GRI Plus program, and attend the March 29th GRI Tax course for just $35. You will earn 7 hours of CE credit (electives) and don't have to take the exam! Contact Louann Pagans to sign up.
Fair Housing: Roanoke City's Fair Housing Board is offering a free Fair Housing Course open to all REALTORS� on April 19th, 1-4PM at the Jefferson Center. (CE/PL 3 hours fair housing) Click here for more information or to register. Get the Price Right with LeRoy Houser: Back by popular demand, LeRoy Houser created his April 26th seminar to address the challenges in pricing calculations and presentations in a Buyers Market. This seminar is 50% lecture and 50% workshop. At the conclusion, students will be able to use absorption rates and CMAs to effectively 'get the price right'. Seating is limited - click here to register.
Foreclosures, Judgments and Liens: This May 23rd course (10-Noon at the RVAR office) will focus on the elements of foreclosures, judgments and liens that impact real estate transactions. Thanks to the sponsorship of Performance Title & Settlement, this course is free and qualifies for 2 hours of CE credit (legal update). Save the date! Registration will open in April.
GRI 414 Negotiation: Working for a Yes: This May 24th course focuses on various types and styles of negotiations and negotiators, using real-life scenarios. (CE 7 hours real estate related; PL 4 hours elective credit). Those with the GRI designation may attend this class for $35.
Mandatory Agency Training: For licenses renewing after July 1, 2012, all REALTORS� will be required to take a mandatory Agency Training class to renew. VAR Vice President of Law & Policy Jay DeBoer will be at RVAR on June 21st to teach this 3-hour class, which will cover the agency changes going into effect July 1st.
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Sending Advertising Across State Lines?
You don't need a passport but you DO need to identify yourself as "licensed in Virginia". Any advertising which travels electronically MUST have the above statement in the ad. This includes, but is not limited to, websites, emails, copies of listings sent to customers via email, Facebook, Twitter or other social media and any Internet communication for personal promotion or marketing property. This regulation has been required by NAR and DPOR since the early days of electronic communication but remains the #1 violation cited by RVAR's Advertising Committee. And don't forget -- electronic ads must ALSO include the city and state of your firm's office (or if applicable, the city and state of the firm's branch with which you are associated.) Click here for RVAR's Advertising Rules. Questions? Contact any member of the Advertising Committee or staff liaison Jan Settle.
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Rebuilding Together
Want to spend a beautiful Saturday in April enjoying a day of "good works", camaraderie and fun? Join fellow REALTORS� and Affiliates for Rebuilding Together, a national effort to rehabilitate houses.
On Saturday, April 28th, RVAR will be rehabilitating a home including yard work, general clean up, painting plus skilled plumbing and electrical work. To participate in this charitable effort sponsored by RVAR's Community Service Committee, click here to complete the volunteer form. Questions? Contact Jan Settle at the RVAR office.
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Affiliates Expo Plans
In order to offer an event that strongly appeals to our members, RVAR's Affiliates Committee will be sending out a survey to all REALTOR� members to help determine what changes, if any, need to be made to the Affiliates Expo to boost attendance. Affiliate members who have participated in the Expo were surveyed last fall. The REALTOR� survey will go out later this Spring. Based on the results of the surveys, the Affiliates Committee will make decisions regarding the future of an Affiliates gathering.
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Our RVAR Family
In Sympathy
RVAR expresses sympathy to those members who have recently lost loved ones: Janice Norvell (Long & Foster) upon the death of her husband; Tammie Aldridge (Wells Fargo) upon the death of her mother; Michael Waldvogel (Waldvogel Commercial Properties) upon the death of his mother and Bill Gearhart (Coldwell Banker Townside) upon the death of his mother.
Congratulations
RVAR congratulates Suzi Fortenberry (MKB) upon recently receiving a Cool Citizens Award from the Roanoke Valley Cool Cities Coalition. The awards are presented annually to individuals and organizations who have made significant progress in conservation and energy-efficiency efforts.
Let RVAR know if you have news to share. |
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Upcoming Events
Please note: the fall Practical Landlording class will be held on Thursday, October 25th -- not October 24th as previously announced.
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April 6th
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RVAR Office Closed for Good Friday
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April 19th
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Speakers Council
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April 19th
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Roanoke City Fair Housing Class
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April 26th
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LeRoy Houser Express Seminar
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April 26th
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REALTOR� After Hours at the Lake
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May 23rd
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Foreclosures, Judgments and Liens
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May 24th
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GRI 414 Negotiation
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Roanoke Valley Association of REALTORS�
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