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Welcome to the monthly Association Liaison E-Source. This
monthly e-mail notice provides indepth information on hot button
issues affecting REALTORS and the real estate industry. It
also features information on upcoming Association events and updates
on services.
The E-Source is meant to provide information that you can present
at upcoming office meetings or forward to your colleagues through
casual conversation.
If you have any questions
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Seller Assist in FHA Loans Under Scrutiny
The Office of Housing
and Urban Development (HUD) has proposed a
rule which
would prohibit seller-paid down payment assistance on FHA
loans. The HUD proposal is consistent with a report by the
U.S. Government Accountability Office, which found that the
average price of homes using seller-paid assistance was
inflated by 3 percent and had a higher foreclosure rate. Furthermore, the IRS
has published a rule that strips organizations found to be
"middlemen" for seller-paid down payment assistance. For
more information on the proposed rule, click
here.
REALTORS wishing to keep
an eye on this issue, as it might affect some transactions
with seller assist, are encouraged to contact the National Association
of REALTORS (NAR) with any questions or concerns. To review NAR's
testimony before the House Financial
Services Committee; Subcommittee on Housing and Community
Opportunity click
here. | |
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UPDATE: RTT Call To Action
Efforts
Recently
challenged by the threat of an increased Realty Transfer Tax
(RTT), the Suburban West REALTORS Association members
responded with record numbers of emailed letters sent to the
Pennslyvania House of Representatives.
We appreciate your help
in relaying the information to your respective offices.
Your efforts to help get the word out to your colleagues about
this issue helped us defeat a nearly 1 percent increase in the
RTT that would have been a crucial blow to the Pennslvania
housing market!
Below are
the impressive statistics provided by the Suburban REALTORS
Alliance (SRA) from this particular legislative Call To
Action:
- 16 members of
the House of Representatives in Chester and Delaware
Counties received an average of 40 email letters from
REALTORS. On a statewide basis, House members received
an average of 17 letters from REALTORS.
- More than 99% of SWRA members who opened the
Call-to-Action email responded with a letter to their House
member.
Unfortunately, less than 20% of our REALTORmembers
opened the Call-to-Action email. This is where our Liaison
network plays a crucial role. By alerting your
colleagues to important email communications from the SRA, you
can help protect your industry from harmful legislation such
as an increased RTT. We hope
you will continue to assist in future
Calls-to-Action! |
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REALTOR Scholarship
Apply now for scholarships to be used
toward designations or a broker license. The
Pennslyvania REALTORS Education Foundation (PREF) scholarships
can be used for tuition to any designation or broker course
offered by a REALTOR association or its school and
reimbursement of lodging and travel expenses, up to a maximum
scholarship amount of $500. Scholarships must be used
within one calendar year of the award date.
The application deadline is
July 31. For details on the PREF Scholarship Program and
to apply, click
here. |
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Upcoming FREE Seminar
Do you have suggestions, comments, or questions about
Standard Forms? Members who want to learn more about the
forms and how they are used are encouraged to attend the
Standard Forms Forum. Registration is required for this
FREE event.
- Thursday, August 9 @
1:00 p.m. - 3:00 p.m. at Suburban West REALTORS
Association, Malvern
For more information and to download a flyer, click
here.
To register online, click
here and once logged in access the Event
Calendar. |
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Association Liaison Kick-Off Event September
21
Mark your
calendars! The Association Liaison Kick-Off Event has
been changed to September 21.
As Association Liaisons, you may already be aware you are
going towards the end of the program. Renewal
information will be sent out in the coming
months. |
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Office Administrator
Forum
As Association Liaisons, we encourage you
to pass this information along to your Office
Adminstrator about this upcoming forum. The Suburban
West REALTORS®
Association is currently inviting the Office Adminstrators of
each REALTOR® office to
attend this exciting program. The purpose of this
annual event to transform Office Adminstrators into a greater
resource for agents in their respective offices.
- Thursday,
August 23 @ 9:00 a.m. - 12:00 p.m. at Suburan West REALTOR® Association,
Malvern
- Cost:
$25 (includes Keynote Speaker and a continental
breakfast)
For more information and to
dowload a regisration flyer, click
here. | | |
Association Liaison
E-Source
