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 Michigan REALTOR E-News 

 

Call For Action: Tell Congress to Expand FHA Condo Financing
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Take Action Now: urge your U.S. Senator to Pass H.R. 3700, and send this important legislation to the President!

While H.R. 3700 passed the U.S. House unanimously, it has failed to come up for a vote in the U.S. Senate. This legislation provides significant benefits to taxpayers, homebuyers and the real estate market by:

  • Removing a burdensome and expensive FHA Condo approval process
  • Reducing FHA restrictions on the number of condos available to homebuyers
  • Permanently streamlining Rural Housing Service loan processing

In addition to the above relief, H.R. 3700 contains a number of provisions that will ease restrictions on the purchase of condominiums. Today, less than 10% of condominiums nationwide are eligible for purchase with FHA mortgage insurance. This leaves first-time homebuyers, urban dwellers, and seniors wanting to downsize without access to what is often the most affordable homeownership option. H.R. 3700 makes common sense adjustments to these burdensome restrictions, will expand housing opportunities, and will protect taxpayers.

Take Action Now
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Keeping the Code – COE Education Reminder
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The deadline for completing mandatory Code of Ethics (COE) training is approaching fast. The market is hopping and the dog days of summer are filled with listing appointments, showings and closing. There are a number of online and classroom opportunities to fulfill your COE training requirement, however a couple of reminders are in order. First, the Michigan Realtors® and CE Marketplace do not track or ratify CE training for our members – this is done at your local association. So, before you sign up for that home study, online, or classroom course from a provider outside of your local association, please contact your local and verify the course is accepted by the local association as meeting the requirement for Code of Ethics training. You will need to retain your certificate of completion or a verification of attendance and submit it to your local association to receive credit for attending. Keep the code, and your membership status intact, ask first!
 
Click here for more information about courses and requirements

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July Webinar: Getting Started with RPR
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July 21, 2016 at 2:00 PM EDT.

Register Online

When considering adoption of a new business tool, new and seasoned Realtors® unanimously want to know “what will it do for me and how will it help my business?” Realtors Property Resource® (RPR®) is designed exclusively for that purpose: to help Realtors® achieve professional success by providing them with an unparalleled platform of dynamic data and persuasive reports that help attract, retain and lead clients to the closing table. Remember RPR is a Realtor®-member benefit and access to RPR is included in NAR membership.

After registering, you will receive a confirmation email containing information about joining the webinar.
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Register for The Convention | Oct. 5-7 | Mt. Pleasant
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The Convention
October 5-7, 2016
Soaring Eagle Casino & Resort
Mt. Pleasant, MI

New speakers and sessions added! Opening and closing keynotes are Greg Schwem and Terry Watson.

Visit the web site to view the schedule and register online.

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2016 District Director Elections – Nominations Close July 22
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Interested in running for Michigan Realtors® District Director? Nominations close Friday, July 22. There are six districts holding elections this year for district director: 1, 4, 6, 9, 11 and 14. If you are interested in running, visit the elections web page.

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Legal Lines – Question of the Month

With the help of McClelland & Anderson, we are taking the most recently asked questions from our legal hotline and putting them in E-news. We will be featuring a different question each issue.

QUESTION:
My seller says that her basement leaked ten years ago, but that she had some grading work done, and it has not leaked since. Can she answer “no” to the question about basement leaks on the Seller’s Disclosure Statement?   
  
ANSWER:
No. The Michigan Court of Appeals has said that given the wording of this specific question (i.e., “Has there been evidence of water”), there is
no time limitation. (In that specific case, the sellers were required to disclose the fact that the house had flooded 26 years ago.)

For more Legal Q&A, visit our Legal Resources Web site.

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Featured Member Benefit: REALTOR®.org Store Member Discount
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Take 10% off your entire order at the REALTOR.org Store!

The REALTOR.org Store has everything you need to enhance your knowledge of the real estate industry. From DVD’s to books and brochures, The National Association of Realtors® provides you with a plethora of resources that cannot be found anywhere else. Above all, the store provides convenient ways to place orders. Visit the store online and make your purchases with the click of a mouse, or simply call and order your product over the phone. Both ways will result in fast shipping, and the option to return.

The Michigan Realtors® want to help you save money on the tools you need. You are entitled to 10 percent off your entire Realtor.org Store purchase. Simple type in the promotional code MI2 and the amount will automatically will be discounted. You can also apply the promotional code to phone and fax orders. It really is that easy to save money, and with this simplicity, there is no reason not to use the code and save!

Visit the REALTOR.org Store to view available products. Don’t forget to use your discount by typing in MI2 at checkout!

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In This Issue:
  
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Webinar: Getting Started with RPR®
July 21, 2016
2:00 pm EDT
Register Online
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District Director Candidate Filing Deadline
July 22, 2016
Learn More
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The Convention
October 5-7, 2016
Soaring Eagle Casino & Resort
Mt. Pleasant
Register Online

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Real Estate Radio Today: Independence Day Special
Real Estate Today opens doors for buyers and sellers with critical and credible information on the real estate market. It’s fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.

Listen to Podcast
 

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Michigan Realtors®
http://www.mirealtors.com/
720 N. Washington Ave
Lansing, MI 48906
USA
800-454-7842

 
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