NAR
NAR's Board of Directors last week authorized the association to create a broker-controlled national repository, or "library," of property data. The Board also took other actions, including the election of officers. Michael Owen, ABR, CRS, of Boca Raton, was announced as a recipient of the 2008 Distinguished Service Award.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-052008.cfm
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HOUSING AID
The U.S. Senate Banking Committee is expected to approve a bipartisan homeowner rescue bill today that could help a half-million struggling borrowers get FHA-backed mortgages. However, it's not clear whether President Bush will sign the agreement.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-052008.cfm
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PROPERTY INSURANCE
Many homebuyers want a property insurer they can trust, and that usually means a name they've heard before, such as State Farm or Allstate. But according to the Florida Office of Insurance Regulation, small companies offer equivalent coverage and, on average, are just as reliable as the big ones.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-052008.cfm
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REAL ESTATE BUSINESS
Real estate brokers can employ several tactics to help their agents succeed in the current market, including encouraging them to specialize and explore niche markets, as well as working to improve their lead generation and negotiation skills.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n5-052008.cfm
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READY FOR THE IMPACT
Fannie Mae's decision to allow 5 percent downpayments in declining markets, such as many areas in Florida, will "help encourage buyers to come back into the housing market," according to NAR President Dick Gaylord. NAR Chief Economist Lawrence Yun went even further: "The Fannie Mae decision is huge and will have a positive impact, perhaps significantly, on the housing market," he says. "We are very appreciative to Fannie Mae for listening to us and agreeing." NAR and other organizations have been calling on both Fannie Mae and Freddie Mac to change the declining market downpayment policy, which disproportionately affects minorities and lower income families, as well as first-time homebuyers. "We heard the concerns of NAR and we reviewed and determined that changes in our policy were needed," Gwen MuseEvans, Fannie Mae vice president for credit policy and controls, told Realtors in Washington, D.C., last week.
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