Member News – January 4

Happy New Year to all our Members!!!!!

Last chance to RSVP for the INSTALLATION on January 10th
If you have not already RSVP’d,
please do so by end of day tomorrow!!!!

The Installation and Holiday Gathering is Tuesday, January 10
at the Blue Ocean Music Hall.  Tickets are just $25 and you may purchase tickets for guests as well.   To rsvp, please use this link http://www.punchbowl.com/parties/3105279-greater-newburyport-association-of-realtors-installation-and-holiday-party

The installation this year will be dedicated to the memory of
Richard E. Sullivan
who passed away in November.

2012 Membership Dues

Thank you to those that have already paid via check or online using ecommerce.  It only takes a moment to pay your dues.  To pay online at http://www.realtor.org, you will need your NRDS number.  The NRDS number is on your REALTOR MAGAZINE label above your address or you may call GNAR for this number.  Dues  can also be paid by check made payable to GNAR.    PLEASE NOTE:  Late fees will apply after January 30th.  

SAVE THE DATE:
February 13 – Get your CEU’s at GNAR

Details are being finalized, block your calendar for up to 6CEU’s from 9-3:30pm

REALTORTV:
NAR Rebenchmarks Its EHS Calculation

NAR released its new method for calculating existing-home sales on Dec. 21, 2011. NAR Chief Econmist Lawrence Yun talks with REALTOR® Magazine Editor in Chief Stacey Moncrieff about the process the association used to ‘rebenchmark’ the EHS series.
http://link.brightcove.com/services/player/bcpid1785312249?bclid=1740033302&bctid=1325970330001

FHA Extends Anti-Flipping Waiver through 2012

The Federal Housing Administration (FHA) announced that it will extend the temporary waiver of the anti-flipping regulations through December 31, 2012. This is part of FHA’s effort to help stabilize home values and improve conditions in communities experiencing high foreclosure activity. Terms of the existing waiver will remain in place. All other terms of the existing Waiver will remain the same, including conditions to prevent the predatory practice of property flipping, in which properties are quickly resold at inflated prices to unsuspecting borrowers. Compliance with the anti-flipping waiver requires that 1) all transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction; 2) in cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the lender must meet specific conditions and document the justification for the increase in value; and 3) the waiver does not apply to the Home Equity Conversion Mortgages (HECMs). In 2010, FHA temporarily waived this regulation through January 31, 2011, and later extended that waiver through the remainder of 2011.


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