Jan Newsletter

WAOR NEWS

2227 Santiam HWY SE Albany, OR 97322

JANUARY 2009

Phone: 541-924-9267 Fax: 5419924-9268 Email: [email protected] Website: WAOR.org

PRESIDENT’S CORNER

Linda Long

Welcome to 2009 fellow Members. As we begin what is sure to be an interesting year. The Willamette Association of REALTORS® is looking forward to providing services that will be of value to all of our members. We are planning a wide variety of interesting and helpful classes, to assist our members in their business during these challenging times. Be sure to check out our newsletter and website waor.org, for upcoming classes and events. If you have any questions or ideas please contact Linda or Barb at the WAOR Office PHONE: 541-924-9267 or from our WEBSITE: waor.org. Working together we can make this year a great one.

Inside this issue: WAOR NEWS GENERAL MEMBERSHIP MEETING

2

WCR MEETING

2

DUES

2

OAR NEWS OREA RULE REVSIONS

3

OREGON REALTOR® ACTION CENTER

3

REALTOR® Day

3

at the Capitol

Thank You Linda

NAR NEWS

HOME FOUNDATION AWARDS $50,000 FOR AFFORDABLE HOUSING The Willamette Association of REALTORS® sponsored Willamette Neighborhood Housing Services for the Oregon Association of REALTORS® HOME Foundation Grant. We are proud to announce that Willamette Neighborhood Housing Services, was awarded, $3,000.00 in December.

The Willamette Neighborhood Housing Services (WNHS)

Realtors® Report

4

The Four Point Plan

4

MEMBER BENEFIT:

THE WALL STREET Home Ownership Center provides educational, counseling, and lending services JOURNAL that help first-time buyers purchase a home. In addition, the Center started offering comprehensive foreclosure counseling this year. The Center works closely with area Realtors® who volunteer their time to teach the Homebuyer Workshop. During the past five years, WNHS has provided Home Buyer Education services to over 1,700 people and has helped over 575 households buy their first home. The Home Ownership Centers works with low to moderate income households in Linn and Benton Counties. The majority of clients served are below 80 % area median income. In 2009, at least 210 households will participate in the Homebuyer Workshop and 110 students will take our Financial Fitness class.

4

WAOR NEWS January General Membership Meeting

Page 2

2008 Holiday Social

Thank you to all who attended our annual Holiday Social.

January 20th Adair Village Club House

Because of your generosity. The Willamette Association of REALTORS® was able to donate

Cost $10.00 Time: 11:15 to 1:00 PM Speaker: TBA 1 Credit Hour RSVP by email before January 16th 2009 [email protected] Or on our website waor.org

$2,196.00 To Linn Benton Food Share It is wonderful to see our organization come together to help our community.. We would also like to thank WVMLS for donating the room and beverage fee. This thoughtful gesture made the event affordable for all.

THANK YOU IT IS A WONDERFUL LIFE

2009 Dues

WCR January Meeting

January 22nd

Local Allocation:

$110.00

Time: 11:30 AM to 2:00 PM

State Allocation:

$140.00

Location: Allied Waste Board Room

National Allocation:

$115.00

(next to Albany Police Station)

RPAC (Voluntary)

$50.00

Subject: Goals Setting and Power Marketing at Little or No Cost. Lunch Catered by Jacopetti’s RSVP: Sandi Brantner [email protected]

Total :

$415.00

Payment may be made by check Mail to: Willamette Association of REALTORS® 2227 Santiam Hwy. SE Albany, OR 97322 Or on our website with PayPal Waor.org If you have any questions Call Barb at 541-924-9267

OAR NEWS OREA RULE REVISIONS

Page 3

Oregon REALTOR® Action Center

Being smart, politically. In the fast pace of the political arena, issues are constantly changing. As grassroots advocates, member volunteers need to be up to speed on issues that impact REALTORS®. Take action. In today’s political atmosphere, there are numerous competing ideologies. To ensure our priorities are shared by elected officials we need to build the local pressure necessary for political success. As issues of significance to your business emerge, the association will issue calls-to-action to present a strong, unified voice on behalf of Oregon’s REALTORS®. To get involved and learn about statewide political activities, visit the Oregon REALTOR® Action Center!

The Oregon Real Estate Agency has filed the final version of OREA Brokerages, Property Management & Escrow Rules with the Secretary of State's office. The rules will go into effect on January 1, 2009.

Public Policy News

You can see the proposed version and a redline version on the Agency's web site http://www.rea.state.or.us/REA/ Rulemaking_Hearing.shtml The OREA will have a link to the official version on the Secretary of State's web site, once they go into effect.

REALTOR® Day at the Capitol March 4, 2009

Gene Bentley | Commissioner Oregon Real Estate Agency 1177 Center Street NE, Salem, OR 97301-2505 Tel: 503-378-4770 | Fax: 503-378-2491

With the 75th Oregon Legislative Assembly set to convene, 2009 brings new political opportunities and challenges. Together, REALTORS® have the ability to make a calculable impact in the coming 2009 Legislative Session. To realize political success, it is vital that REALTORS® are involved in the legislative process and seize the opportunity to share their expertise on issues that impact the real estate market. Simply put, we need your help! Make a commitment now to join your colleagues in Salem on March 4, 2009, for REALTOR® Day at the Capitol. If you have questions, please contact Paul Rainey with the Oregon Association of REALTORS® at (503) 362-3645.

NAR NEWS REALTOR® REPORT

WASHINGTON, December 17, 2008 The National Association of Realtors® applauds the actions of the Federal Reserve Board in lowering interest rates for home buyers and homeowners who need to refinance. This will significantly impact housing sales, home valuations, and the nation’s overall economy.

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Member Benefits Wall Street Journal

Many business publications are available to REALTOR® members for free in the virtual library of the NAR website: www.realtor.org. Chat live with a librarian or browse and search both recent and archived issues of leading journals such as Barron's, Business Week, The Economist, Forbes, Fortune, Newsweek, Time and The Wall Street Journal. Click here to learn more. Your NRDS number will be required for links marked "Proquest," provided for members only.

Four Point Plan

The Federal Reserve is purchasing large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets. “NAR has been aggressively calling for mortgage rate reductions, and the Fed’s action to slash interest rates, coupled with the actions by the Federal Housing Finance Agency and the Department of the Treasury, has driven down interest rates to make the dream of homeownership once again attainable for thousands of Americans,” said NAR President Charles McMillan. Mortgage rates, which had averaged 6.3 percent in the third quarter, have recently fallen into the 4 percent range in some parts of the country. “That is the lowest rate in nearly 50 years and will bring buyers back to the market,” McMillan said. “We are pleased that the government heard our message and responded to our call for action.” NAR has estimated that a one percentage point decrease in mortgage rates will increase home sales by more than 500,000 homes. “To boost the economy, it is critical to stem the rising tide of foreclosures and boost home buyer confidence in the housing market.” McMillan said. “Lower interest rates coupled with increased foreclosure mitigation are the key ingredients to stabilizing the housing market and preserving communities and homeownership.”

The most recent economic stimulus bill, the Emergency Economic Stabilization Act, was a good first step towards stabilizing our nation’s economy. Unfortunately, a number of the Act’s provisions have not proven to be as useful at stabilizing the nation’s housing markets as was first thought. Congress may consider a second economic stimulus bill this month. If they do, there are a number of changes that could help to provide more stability to the nation’s real estate markets which most agree is a necessary step towards recovery. NAR has urged Congress to include the following provisions in any future legislation:



Make the $7500 tax credit available to all purchasers and eliminate the repayment requirement. The credit’s limited availability and required repayment terms have severely limited the credit’s appeal to potential homebuyers. As a result, the credit has not been widely used or proven effective at stimulating sales.



Make the 2008 FHA, Fannie Mae and Freddie Mac loan limits permanent. New rules for 2009 would significantly reduce the FHA, Fannie Mae and Freddie Mac loan limit from their 2008 levels. Now is not the time to limit the availability of affordable mortgages.



Get the Emergency Treasury bank relief program back on track by targeting more funds to mortgage relief efforts and increasing efforts to mitigate foreclosures. Don't just give the banks unrestricted cash. Make the program work to improve mortgage and housing markets as it was originally intended. Permanently bar banks and banking conglomerates from engaging in real estate brokerage and management. The banks have proven they have enough to do to simply properly manage their current lines of business. Do we really want them to manage the home buying process? Imagine what could have been the situation now if they already had the added ability to engage in real estate sales. Take action now!