|
 How new FHA, GSE loan limits impact you...
President Bush recently signed into law a $152 billion economic stimulus bill that includes temporary increases in loan limits for the government sponsored enterprises (GSEs)--Fannie Mae and Freddie Mac--and the Federal Housing Administration until Dec. 31. But what does this mean for you and your clients?
The National Association of REALTORS launched a new resource Web page, What Economic Stimulus Means for REALTORS, devoted to educating you about the new loan limits, which loans are eligible, and the implementation of these temporary limit increases.
NAR has developed estimates of the FHA and GSE single-family loan limits by state and county so that you can get a sense of how the loan limits will rise in your markets.
"The importance of immediately implementing the new limits cannot be overstated," said NAR President Richard Gaylord last week in a public statement. (Listen and watch Gaylord's video podcast on the topic at REALTOR.org). "Mortgage markets throughout the country need liquidity. Our research indicates that the increased FHA loan limits will help an additional 138,000 Americans achieve the dream of homeownership and will allow nearly 200,000 homeowners to refinance and potentially keep their homes.”
The FHA limit will increase to as much as $729,750 in high cost areas (to 125 percent of local median home prices). The GSE limit will jump to $729,750 for loans; currently Fannie Mae and Freddie Mac loans are capped at $417,000.
Eligible loans from FHA include mortgages that were issued for credit approval on or before Dec. 31, 2008. GSE loans that are eligible include loans that originated after July 1, 2007 to Dec. 31, 2008.
The U.S. Department of Housing and Urban Development is required to publish the new mortgage limits by March 14; the limits will be effective for FHA immediately upon publication.
Visit REALTOR.org for more on the FHA and GSE changes so that you can educate yourself and, in turn, your clients about their options.
Source: REALTOR Magazine Online
back to top
'Short Sale' Message Board created
Your Ohio Association of REALTORS has created a special opportunity for members to share their experiences, as well as other pertinent information, on the topic of “Short Sales.” This unique forum will allow REALTORS to gain new insights on “Short Sales” by viewing the first-hand experiences of others. Visit www.ohiorealtors.org/messageboard.aspx to view this unique new communication tool.
back to top
Governor Stirckland to speak at OAR Legislative Conference...
Members planning to attend OAR’s Annual Legislative Conference, March 11-12 in Columbus, will hear Governor Ted Strickland describe his plan to create jobs and revive a sagging economy in Ohio, a proposal he initially outlined in his State of the State address earlier this month. He will speak at the Conference’s opening luncheon set for 11:30 a.m. on March 11. But due to other commitments that afternoon, his address will be given at the start of the luncheon rather than afterwards.
Members should plan to arrive no later than 11:15 a.m. and be in their seats for the Governor’s introduction at 11:30 a.m. sharp. Lunch will be served at the conclusion of the Governor’s remarks, which are expected to be 15 to 20 minutes in duration.
View the Schedule of Events...Register today online.
back to top
Risk management and the Internet...
The new opportunities that real estate brokerages enjoy from the Internet also pose new business risks. Learn about effective management of these risks in a white paper from NAR legal affairs.
back to top
Save with OfficeMax...
 OfficeMax...Receive a 50% discount on color and black & white print services. A 40% to 80% discount is also available on selected office products.
For more information and to access your OfficeMax Retail Connect Card, click here.
back to top
Tech Tips...
FedEx quick ship toolbar for Outlook...Fedex now has a toolbar that integrates with Microsoft Office to help make your life easier! Choose the customer's name from your Outlook address book, and create the shipment. You can also check rates and track packages without ever leaving your Outlook application. (http://fedex.com/quickship/welcome.html)
Change the default e-mail in VISTA...Windows Mail is the default e-mail program used by Vista and other programs. If you use a different e-mail client, such as Microsoft Outlook, you can configure a different e-mail program as the default.
To change the default e-mail program in Vista:
1. Click Start, Default Programs, and click Set program access and computer defaults.
2. Type in your administrator password if prompted.
3. Click Custom under Choose a configuration.
4. Under Choose a default e-mail program, select the program you want to set as the default.
5. Click OK.
Windows Shortcuts
Ctrl + F5 in Internet Explorer will refresh the web page bypassing cache (all images and external file references will be reloaded).
Windows Key + E will open up a new explorer window
Windows Key + Pause/Break will display the Systems Properties dialog box.
Don't forget OAR's free Tech Hotline service...
866.478.TECH (8324) New EXPANDED hours of operation:
M-F: 8 am - 8 pm ... S-S: 10 am - 4pm
back to top
Education...
CI 102: Market Analysis for Commercial Investment Real Estate...This course, to be held Mar. 3-7, will analyze historical trends and existing data to assess both current and future market conditions. Economic Base Analysis, an important starting point for forecasting the future of a market area, will be introduced. Learn how supply and demand factors impact a market forecast, as well as gain insight into site feasibility, market dynamics and market pricing. (Note: CI 101 is a prerequisite for this course.) Sign-up today...
ABR Designation program...Buyer agents need specialized training and knowledge to effectively service customers in today's market. The program, scheduled for Mar. 12-14, will help you gain a competitive edge in this growing market. Buyer agents need specialized training and knowledge to effectively service customers in today's market. Mar. 14 strictly focuses on Foreclosure and prevention opportunities for your buyer-clients. Sign-up today...
Post Licensure Course for Salespeople...OAR will offer the 10-hour Post Licensure course March 19-20 at OAR headquarters in Columbus. This course is required for all newly-licensed salespeople within the first year of licensure. Early-bird reqistration applies. No c.e. offered. Sign-up today...
Attacking & Defending an Appraisal in Litigation...This 14-hr. course will cover common mistakes made in appraisals and how to testify if called upon. Various standards and ethical rules that are commonly misunderstood are also highlighted and explained. Dates: March 26-27 in Columbus. Sign -up today...
30 hours online...Take your real estate continuing education hours online. You can take 3, 6 or all 30 hours in any combination...Sign-up today...
back to top
|
