July 2010

Chairman’s Corner

Greetings! As you learn more about TREPAC and receive requests to invest, you may be asking yourself, “Why should I contribute to TREPAC?” The answer is simple. Investing in the Texas Real Estate Political Action Committee (TREPAC) helps protect your best interests and your clients’ best interests. Your investment in TREPAC supports issues in favor of the real estate community and opposes those that would harmfully affect us as REALTORS® and private property owners.

Congress provided relief to thousands of homeowners by extending the closing date for their transactions, so that they may still receive their tax credits. These homeowners met the previous deadline of having a contract on their homes in place by April 30; however, for differing reasons, they would have been unable to close on their homes by the original June 30 deadline. Had the extension not been granted, these homeowners would have lost their $8,000 or $6,500 homebuyer tax credits. With Congress’ latest action, qualified homebuyers now have until September 30 to close on their homes. More information can be found on the National Association of REALTORS®’ (NAR) website.

At the beginning of June, ABoR sent a special announcement to members regarding proposed changes to the Association’s Bylaws. Each year, the Bylaws Committee reviews the governance documents to make sure they comply with the needs of members and the Association. The committee also reviews any suggested or mandated changes from the National Association of REALTORS® (NAR). After careful assessment, the Bylaws Committee compiles the proposed revisions and the rationale behind the changes. These recommendations are then taken to the Board of Directors for approval. Once approved, ABoR the opens up the vote to members, so that you can voice your opinions in favor of or against the proposals.

Last month, ABoR members approved the recommended changes and the updated version of the Bylaws has been posted to Abor.com for your viewing. Please note, the following sections of the Bylaws were altered: Article IV – Membership, Section 1. f. Life Members; Article V – Qualification and Election, Section 2(c); Article X – Dues and Assessments, Section 2. Dues; Article XI – Officers and Directors, Section 1. Officers; and Article VI, Section 15. Harassment.

Our thanks go out to everyone who took the time to review and vote on these changes. We appreciate your input and time.

The City of Austin Small Business Development Program is gearing up for their seventh annual “Meet the Lender” Fair, which will be held on Thursday, August 5 from 3:00 to 7:00 p.m. at the Palmer Events Center located at 900 Barton Springs Road. The free fair will offer advice on financing for new and existing small businesses, allow you to meet with banks and others lenders, and attend educational sessions. More information can be obtained on the City of Austin’s website or by phone at 512-974-7800.

The Government Affairs section of Abor.com has been revamped to offer you more information on the issues important to REALTORS®. On the new Government Affairs page, you will find information about current issues, including ABoR’s public policy positions on Water Treatment Plant 4, transportation, residential rental registration programs and more. Additional resources and special topics are also available to connect you directly with legislative initiatives, NAR’s Government Affairs and TAR’s Call for Action Center. As always, you can still easily make your investment to TREPAC through our convenient online form.

HGTV is on the hunt for first-time homebuyers in the Austin area for their television show My First Place. If you know a first-time buyer who would be interested in being cast for the show, encourage them to apply. The episode will feature the homebuyer’s journey throughout the entire purchasing process, along with you as their REALTOR®. The individuals selected for the program will be filmed for a minimum of 10 days over the course of three months.

First-time homebuyers can apply for this unique opportunity online. For more information or questions, please contact Cindy Baggish at 303-712-3093.

The Texas Association of REALTORS® (TAR) is offering new options for you to manage the communications you receive from them. Upon logging into TAR’s website, a home page screen will display. You will notice the Account Settings option. The settings option allows you to manage the frequency in which you receive communications from TAR, whether you wish to receive messages instantly, daily, weekly or never. Additionally, the subscription manager allows you to customize which messages you receive based on relevant topics, so that you can ensure you receive communications about the issues most important to you.

TAR’s Legislative Liaison is sent out weekly when the legislature is in session and monthly during the off-times. TAR’s Focus is sent out every other week and contains important information for daily business activities, industry news, benefits and more. Beyond their standard association publications, TAR also allows you to sign up online with their Call for Action Center, which will alert you about timely legislative happenings. By managing your subscriptions with TAR, you are ensuring you receive the information you want, how you want it.

According to the Multiple Listing Service (MLS) report by the Austin Board of REALTORS®, the volume of Austin home sales in May 2010 was 2,074, up 24 percent from the same month in 2009. The median price of Austin real estate decreased two percent from May 2009 to $192,000.

“Although the tax credit expired in April, we are still seeing its impact on sales in May,” said John Horton, Chairman of the Austin Board of REALTORS®. “Single-family sales continued to exceed last year's numbers due to home contracts written before the April deadline, which continued to close in May.”

In May 2010, the days on the market for single-family homes decreased 20 percent to 63 days as compared to May 2009. In the same time period, pending sales decreased 34 percent to 1,405; new listings remained unchanged at 3,072; and active listings increased by 13 percent to 11,230.

View the complete Austin housing market report for May online.

In July’s Legal Topics column, Don R. Hancock, J.D., of Hancock and McGill, L.L.P., discusses how to protect real estate investments from creditors, including an examination of recent legislation and a series limited liability company.

ABoR has negotiated a special, discounted rate for members to have access to services from RealtyTrac. RealtyTrac is a foreclosure resource used by members of the real estate community, the media and other agencies. According to RealtyTrac, their database includes 1.5 million foreclosure properties throughout the U.S. As part of the deal, RealtyTrac is offering ABoR members access to short sale listings and other data, as well as unlimited property uploads, a presentation tool and more! The cost per month for this service is $19.95, discounted from the normal rate of $59.95. Individuals can learn more and sign up online. For additional assistance, contact RealtyTrac directly at 1-800-306-5930.

This spring, Supra launched an improved version of the SupraWEB website, which offers a robust selection of reporting and tracking tools. As with any change and the addition of new features, you may not be familiar with all of the capabilities the system has to offer. To help ensure members are getting the most out of the system, ABoR has decided to design an office training session specifically for SupraWEB. Offices visits are conducted onsite, which means we will bring our resources directly to you in the convenience of your own office. Trained staff members conduct the sessions, which should last approximately 20-30 minutes. These training opportunities aim to offer a unique way for agents to increase their knowledge and familiarize themselves with new technology and systems. A presentation designed around SupraWEB is only the latest addition to the many topics ABoR can cover at an office visit.

To schedule your office visit, contact ABoR’s Membership Trainer James Yanz at 512-454-7636, ext. 1121.

Show your support for TREPAC over a glass of fine wine and mouth-watering appetizers at this year’s annual TREPAC wine tasting event on August 19. The Texas Real Estate Political Action Committee (TREPAC) supports and protects the legislative interests of REALTORS® throughout the year. You can show your support for your industry by joining us at Central Market, located at 4001 North Lamar, for this exciting, and delicious, event. Tickets are $35 each and can be purchased online.

Contact Christina Ortiz in ABoR’s Government Affairs Department at 512-454-7636, ext. 1501 for more information, including available advertising opportunities.

Attend the Bring Workers Home: 2010 Regional Forum on Workforce Housing and Employer Assisted Housing (EAH) Class on August 12 and 13 to learn more about affordable housing and employer assisted housing benefits. The regional forum will discuss the issue of workforce housing, including diving deeper into how to establish and maintain programs in the community for workforce housing, the importance of workforce housing, issues for employers and more. According to NAR, the EAH class “focuses on how to work with local employers to discuss employer-assisted housing.” This course was designed for REALTORS® and other stakeholders to assist them in working with employers on this initiative.

Sponsored by the National Association of REALTORS® (NAR) and in partnership with the National Housing Conference, the two-day conference will be held at the Omni Hotel and Resort in Downtown Austin located at 700 San Jacinto at 8th Street. Individuals wanting to attend this event can register online now through July 30.  For those attending both the regional forum and EAH class, the cost is $50. Taken separately, the forum is $45 and the class costs $15. Additional event details, including registration information, are available online.