To all those who work so hard to make the MRE Program a success, we wish you and yours a happy and safe Independence Day.
All online resources will remain active during the July 4th holiday weekend. Instructors will be available again beginning on Monday, July 7th. Have a great weekend!
At the NAR Midyear meetings steps were taken to undergo a huge project for the association; the digital Library/Archive system for all property information in the country.
The idea of a single property database is not new. Google, Zillow and others have stated that having access to all the property information is something they desire. NAR’s current proposal would limit access to NAR members only, allowing the association membership to store and access information perhaps not readily available to the general public.
The “Library” as it is now being called, would not be an MLS database, but rather would simply be a storage and holding database for all property information, including potentially public records, MLS listing information, consumer added information or REALTOR® added information. The NAR Board of Directors gave approval for start-up funding for the project last year and now will be looking to the association for a “proof of concept”, according to a recently published article in REALTOR® Magazine. This would use one or more local markets to demonstrate to the Board how the Library would potentially function prior to the Board seeing any type of budget or business plan for the concept.
The following courses have been approved as MRE elective courses;
Foreclosures and Short Sales - 3 hours - Learn the process of a short sale and how it plays into the foreclosure process (state specific)
Affordable Housing: A Practical Guide - 3 hours - Learn how affordable housing programs function and how you can add these programs into your business.
These classroom courses are designed for MRE candidates and designees looking for more information on either of these timely and critical topics. Both courses will be available on limited bases during the summer. Those wishing to schedule live sessions should contact VanEd at info@vaned.com.
The mandatory 90-day waiting period instituted in 2003 by the Federal Housing Administration (FHA) on the sale of REO properties is being lifted. The waiting period was originally designed to reduce the number of properties in foreclosure that were being “flipped” by investors, but is now seen as an additional hurdle in the process of clearing the growing number of foreclosures from the market.
Agents should be aware that many REO properties do not meet FHA guidelines, however, and so properties that are in foreclosure may need to be rehabilitated prior to being sold to an FHA borrower.
The process of flipping homes gained popularity over the last few years. Investors would purchased foreclosed or distressed properties and then re-sell them to new buyers. The timeline for the re-sale is the subject of the 90-day rule.
The PowerPoint presentations from the NAR Mid-year meetings recently held in Washington, D.C. are now available for viewing. These presentations are from the State/Local Education Directors meetings as well as the Professional Development Committee Meetings.
You can access the information using the link provided below;
>>>>>Click Here for presentations from NAR Mid-year meetings
