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Weekly News Service
Providing the Latest Association and Local Real Estate
Information
The Weekly News Service is an exclusive benefit available to
members of the Suburban West REALTORS Association. Featuring both
Association news and local real estate industry information, the Weekly
News is a service meant to benefit all members of the organization.
Housing Market Strong Nationally and Locally in 4th Quarter
2010 Conditions Looking Favorable
 Existing
home sales showed strength in the 4th quarter of 2009 according to a recent
report from the National Association of REALTORS. Nationally, sales jumped
27.2% from the same period in 2008. Locally, the 5 county region showed
gains of 13% in sales versus the same period in 2008. Lawrence Yun, NAR
chief economist, said the first-time home buyer tax credit was the dominant
factor. "The surge in home sales was driven buy buyers responding
strongly to the tax credit combined with record low mortgage interest
rates." For more from the NAR report, click
here.
Additionally, TREND has released it's 4th Quarter Economic and
Market Watch Report which goes into more detail about how the county
markets are faring. In this current report, Ken Fears, manager of regional
economics for NAR, indicates, "The housing market in 2010 is virtually
guaranteed to be better than that of 2009." To access the report, log
on to TREND
and click on the link under market statistics on your home page (bottom
right).
NAR Launches New Consumer Site
 Earlier
this week, the National Associaiton of REALTORS launched HouseLogic, a new
comprehensive consumer Web site covering all aspects of homeownership. The
site was developed to help homeowners make smart decisions and take
responsible actions to maintain, protect and increase the value of their
homes.
REALTORS are encouraged to visit the new website and direct
clients who either are in the process of buying or selling or even recently
settled as there are resources that can be helpful an any stage of the
homeownership process. To view NAR's press release, click
here. To visit HouseLogic, click
here.
Off-Hour MCE Courses From ARS
 The
Association of REALTORS School recognizes that it is difficult for some
licensees to complete their continuing education credits on weekdays.
Beginning in March, there will be ample opportunities for licensees to
attend classes on Saturdays and evenings at the school location in Malvern.
The Saturday courses are full day sessions from 9:00 a.m. to
5:00 p.m. and provide 7 hours of continuing education credit. Click
here for the complete list of Saturday classes. The evening courses
are half-day sessions from 6:00 p.m. to 9:30 p.m. and provide 3 1/2 hours
of continuing education credit. Click
here for the complete list of evening classes.
Also note that we continue to partner with Cengage to offer an
assortment of online courses that provide either 7 hours or 3 1/2 hours of
continuing education credit. Click
here for the list of online courses.
Upper Providence Council Reschedules RTT Meeting
 Upper
Providence council will now consider a 0.5% increase in the real estate
transfer tax (RTT) at its rescheduled meeting on Thursday, February 25 at
7:30 pm. The meeting will take place the Upper Providence Municipal
Building, 935 N. Providence Rd., Media, PA 19063. This would bring the
total real estate transfer tax to 3% in Upper Providence. If passed, Upper
Providence would have the highest RTT rate of any suburban Philadelphia
municipality. The Suburban REALTORS Alliance is calling on all Upper
Providence REALTORS and homeowners to come to the February 25 meeting to
voice their concerns about raising this tax on homeowners.
Click
here for the meeting agenda. Click
here for the Suburban REALTORS Alliance meeting talking points. Visit
the Suburban REALTORS Alliance Action Center and send your message to
council opposing this increase today!
Title Insurance and the Residential Real Estate Transaction
 The
March 5th REALTOR Lawyer Forum will be conducted as an open forum on the
topic of title insurers working from outside the state of Pennsylvania.
This topic was selected from suggestions by past participants to the
REALTOR Lawyer forum. An open forum provides no formal speaker or panel.
Discussion is fueled by participants questions and answers to each other.
This is an opportunity to learn from the experience of your peers. Bring
your questions or comments on this and other title insurance related
issues.
To register, click
here (once logged in, access the Events Calendar). Pre-registration
for this event is required. The cost to attend is $11. This covers
lunch provided to all participants. All registrations or cancellations must
be made before noon, Tuesday, March 2nd.
Professionalism Tip - Authority for Advertising
As the Internet experience grows so do abuses. In short,
advertising another firms listings on your website, social network page
(e.g. Facebook) or third party aggregator (e.g. Craigslist) is prohibited
without authority. Some REALTORSŪ argue that exposure is a good thing.
While that may be true, permission is still a requirement of the Real
Estate Licensing and Registration Act (RELRA) and the REALTORŪ Code of
Ethics.
Participants in the MLS Internet Data Exchange (IDX) have
given permission for listings to be shared on other participants websites
when that participant subscribes to the IDX feed for the website. This
permission is not blanket permission to take any listing and put it
anywhere.
The Association is saddened to notify the membership of the
passing of one of its former members. William E. MacAdam passed away on
February 13
Bill was a Designtated REALTOR with the Association for 33
years, having founded MacAdam Real Estate in Broomall (now Century 21
Alliance). Bill is the father of current REALTOR Doug MacAdam and
grandfather of REALTOR Greg MacAdam both of Century 21 Alliance. A viewing
will be held Friday, Feburary 19 at 4 p.m. at St. Marks's United Methodist
Church, 2220 S. Sproul Rd., Broomall. A memorial service will follow at
5:30 p.m. In lieu fo flowers, memorial gifts may be sent in Bill's name to
St. Mark's at the address above.
Get Advice on Your Personal Finance at the Next Starbucks
Morning - Managing your income as an independent contractor can be
tricky. Even the most successful REALTORS have the challenge of balancing
their cash flow for both business and personal use. The March 2 Starbucks
Morning session Personal
Financing for REALTORS (9:00 a.m. - 10:30 a.m. at Suburban West)
will feature a financial planning expert that will discuss in-depth tax
planning, retirement planning, investments, budgeting from the REALTOR
perspective.To register, click
here (once logged in, access the Events Calendar). This event is
generously sponsored by Bill Worthington of Brandywine/Springfield
Waterproofing.
Upcoming Events at the Association
 Want
to know what's going on the Association? For a complete list of events and
courses, visit the Calendar
of Events.
Important Phone Numbers & Websites
1-866-495- SWRA
- SUPRA Support: 877-699-6787 (8 am to 10 pm, Everyday)
- TREND:
610-783-4650 (www.trendmls.com)
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