News | From VARbuzz | Residential | Commercial | Education | Broker News | Rookie News | Law & Policy
 
  November 2008  
 

Dear Member,

Not surprisingly, law and policy fills the news this issue — apparently there was some sort of election. From which RPAC-supported congressional candidates won to what you can expect from President-elect Obama on housing issues, we've got the news you need to know.

But we're also looking ahead — it's time to start thinking about nominations for a slew of VAR awards and the 2009 Virginia General Assembly session. Read on, MacDuff.

IN THIS ISSUE
  • Predicting Obama's housing policies (go)
  • Changes to FHA appraiser eligibility (go)
  • And the winner is... (go)
  • The battle royale of Virginia REALTOR® blogs (go)
  • Don't be shy: VAR helps you get Bold for FREE (go)
  • Third quarter home sales report's in (go)
  • Become a real estate know-it-all (go)
  • Valuable homes, valuable prizes (go)
  • Commercial real estate adopting social networking (go)
  • New commercial space outstrips demand (go)
  • REALTOR®, or just an agent? (go)
  • Last stop for the Broker Road Show (go)
  • Stuff to talk about at sales meetings (go)
  • The state of RESPA enforcement (go)
  • Double your money: Earn a designation (go)
  • FREE internet marketing webinar December 4 (go)
  • RPAC-supported candidates heading to Washington, DC (go)
Top News
Changes to FHA appraiser eligibility

The housing stimulus bill signed into law July 30 requires FHA to accept only appraisers who are certified by a state or a nationally recognized organization. In implementing this restriction, FHA is only accepting applications from state-certified appraisers; state-licensed appraisers are not accepted.

Appraisers must also demonstrate verifiable education in appraisal requirements as established by the agency. A mortgagee letter providing additional details is expected in the coming weeks. For more information contact Jerome Nagy at NAR: (202) 383-1233.

[Read about FHA's appraiser requirements]
And the winner is...
From VARbuzz
The battle royale of Virginia REALTOR® blogs

Virginia REALTORS® are duking it out for the right to lay claim to the title of the Commonwealth's best real estate blog. Oh, not to mention some fabulous prizes, including a free registration to Inman's Real Estate Connect New York

Check out VARbuzz's signature blogging competition and cast your vote for Virginia's best real estate blogger blogger. There are eight bloggers left, and they come from virtually every corner of the state, so go vote for your home town favorite.

And even if you're not in the competition, be aware that Inman is offering a $150 discount to VAR members for its Real Estate Connect New York conference. Just use the code "VAR08" when you register.

[Vote today at VARbuzz.com]
Don't be shy: VAR helps you get Bold for FREE

The BlackBerry Bold, that is. You can get a free BlackBerry Bold when you sign a two-year deal with AT&T before November 30 through the VAR Wireless Center.

We can also help you get a Curve, enV, or Wing. Check out VAR's Wireless Center for great prices on all the latest gadgets. We have arrangements with (in alphabetical order) Alltel, AT&T, Sprint, T-Mobile and Verizon.

[Read all about it at VARbuzz]
Residential
Third quarter home sales report's in
Become a real estate know-it-all

Looking for a better way to reach out to clients than calendars or recipes or doo-dads? That's why we're giving you ClientDirect. What is ClientDirect? It's an electronic newsletter you can send to your entire customer list, and it's chock-full of real estate information.

Pssst! It's free.

But, oh no, that's not the coolest part. What makes ClientDirect such a great tool is that you can customize it. Pick the articles you want to include. Better yet, write a short piece or a full article of your own and add it in. Tell your clients about their neighborhoods, zoning changes, big sales — whatever you like. Mix and match to make the perfect, useful, message.

Oh, and it comes from you, too; your photo and contact info's on top.

So now you've got a way to stay in contact your clients each and every month; it's a great way to keep yourself on their minds.

[Sign up for ClientDirect today]
Valuable homes, valuable prizes

As you may have heard, to help get the word out about the new Virginia Homeowners Alliance, VAR and your local association are giving away a pile of, frankly, really cool prizes. We're talking a Caribbean vacation, $500 gas cards, iPods, Nintendo Wiis, airline tickets, and much more.

It's simple to get your name in the hat to win: For every five homeowners you sign up for the Virginia Homeowners Alliance (yes, it's free), you get one raffle ticket for the quarterly prize drawing. (The first one will be held in the beginning of January.) For every 20 homeowners you sign up, you get a ticket for the grand prize drawinvhalogog for the Caribbean vacation and airline tickets.

Think of it as a highly relevant and ready-made reason to get in touch with some old clients. We even have a starter set of tools to use — signatures to add to your e-mail, letters you can send, forms, and more.

[Check out the Alliance right now]
Commercial
Commercial real estate adopting social networking
The most recent edition of Commercial Investment Real Estate magazine gives readers a primer on how they can use social networking to extend their professional networks. [Read the full article]
New commercial space outstrips demand

From the DC metro area to Hampton Roads, the amount of new office space being completed far exceeds demand. PilotOnline.com reports that of 860,000 square feet of office space currently under construction in Hampton Roads, only 27 percent of it is currently leased.

In these economic conditions, the retail sector is especially vulnerable according to DC area real estate developer Charlie Bresler, who foresees a need for adaptive reuse of big box stores.

Professional Development & Education
REALTOR®, or just an agent?
Broker News
Last stop for the Broker Road Show

November 20 is the last of the Broker Road Show sessions for 2008. Held at the Herndon office of the Northern Virginia Association of REALTORS®, you can register online and learn from VAR's special counsel, Lem Marshall, about the most current risk management issues in today's real estate marketplace.

And yes, this course counts towards the Virginia Real Estate Board's Broker Management Supervision continuing education requirements.

[Register today!]
Stuff to talk about at sales meetings

Ever find yourself scrambling to find topics for sales meeting? Here are three resources from VAR you can use at your next sales meeting to help your agents be more effective in the current housing market.

1.    Give your agents a tour of VAR's comprehensive (and always-growing) legal resources center. Guide them through this index of commonly-asked legal hotline questions to help them find answers to common real estate dilemmas.

2.    If you're interested in a longer-term curriculum, check out these sixteen lessons based on NAR's code of ethics, which should last you at least a few months.

3.    In these challenging economic times, your agents are probably looking for all possible ways to squeeze the value from every penny they earn. Help them out! Show them around our REALTOR® tools and member discounts pages.

The state of RESPA enforcement

A recent podcast (Episode 17) by NAR Legal Affairs examines federal enforcement of the Real Estate Settlement Procedures Act, which prohibits kickbacks in exchange for business referrals, among other things.

[Get episode 17 of NAR's Legal Affairs podcast]
Rookie News
FREE internet marketing webinar December 4

If you need a hand reaching out to the current generation of home buyers and sellers, this presentation from VAR member service partner Advanced Access is a must attend! Learn the basics and review the most innovative marketing strategies including blogging, social media, and search engine placement.

Learn how these changing platforms of real estate technology can actually help you achieve more leads and more clients today!

[Sign up for this FREE webinar]
Law & Policy
RPAC-supported candidates heading to Washington, DC

Thanks to your contributions and your votes, a delegation of REALTOR®-friendly legislators from Virginia are headed to Washington, DC to advance property rights and protect the real estate profession. RPAC supported these candidates in their Election Day victories:

U.S. House of Representatives

  • Rep. Rick Boucher 
  • Rep. Eric Cantor 
  • Rep.-elect Gerry Connolly 
  • Rep. Randy Forbes 
  • Rep. Bob Goodlatte 
  • Rep. Jim Moran 
  • Rep. Bobby Scott 
  • Rep. Rob Wittman 
  • Rep. Frank Wolf

U.S. Senate

  • Senator-elect Mark Warner

We know that it's a tough economic year, but that's especially why you need to invest in your best political protection TODAY. When state legislators convene in January, they may rely on taxing real estate to raise extra money. Protect your business and your livelihood... your RPAC fair share contribution is just $20.

The 2008 RPAC fundraising year ends on November 28th (when ALL money must be at VAR). Don't wait. Invest online today. Your local association will be notified of, and credited for, your investment.

The fine print: Contributions are not deductible for income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. The amount suggested is merely a guideline and you may contribute more or less than the suggested amount. You may refuse to contribute without reprisal and the National Association of Realtors or any of its state associations or local boards will not favor or disfavor any member because of the amount contributed. 70% of each contribution is used by your state PAC to support state and local political candidates. Until your state PAC reaches its RPAC goal 30% is sent to National RPAC to support federal candidates and is charged against your limits.

[Invest in RPAC today]

housevalues


C A L E N D A R

November 20

2008 Risk Management Roadshow for Brokers

Office Policy Workshop with Lem Marshall

Northern Virginia Association of REALTORS® (Herndon office)

February 11-13

VAR's Legislative & Education Conference 2009

Richmond Omni Hotel


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Virginia Association of REALTORS®
10231 Telegraph Rd., Glen Allen, VA 23054, Tel. (804) 264-5033