1

January 2011

Inside this issue:

Marketing Session 1

President’s

Message

3,4,5

Calendar of Events 6

Who’s Where? 9

Industry Update

by Greg

Grandchamp

11,

12,13

Industry Article by

Tanya

Aschenbrenner

14,15

Local Area

Statistics

16

Governmental

Affairs Update

18,

19,20

Volume 1, Issue 13

2

The News

LONGMONT ASSOCIATION OF REALTORS®

GENERAL MEMBERSHIP MEETING

February 4, 2011 8:00 a.m.

Guest Speaker: Don Marostica

Colorado Office of Economic Development & International Trade

Topics: State Budget

Our New Governor & His Cabinet Economic Development in Northern Colorado

What’s The Future of Colorado

Location: The Conference Center (formally The Radisson)

1900 Ken Pratt Blvd. Longmont, CO. 80501

COST: $10.00 in advance

Includes Continental Breakfast

You MUST RSVP by Friday, January 28th to attend

For more information visit our webpage at www.longmontrealtor.com, and click the “Events” Tab.

Or

Call Association Office at 303.772.5555

3

BUMP AND RUN – GET READY FOR 2011!

Wow, what a year we had in 2010. Some of our membership at the Longmont Association of REALTORS® enjoyed their best year ever in real estate! Really! If that wasn’t You, then perhaps you aren’t far behind. It doesn’t take too many deals gone astray by inspection, appraisal, or loan conditions, or too many short sales not closing to change ones outlook a little bit.

Attached please find some cause for hope. Though our transaction count will end around 10% below 2009, our dollars transacted will only be about 3.5% less. Actually, when viewing the attached chart, you can start to see why I am so encouraged. In all four of the markets from Boulder, to Longmont, to Berthoud/Loveland, and to Fort Collins, we are seeing a rise in the median and aver-age home sales prices.

Look for January to start with a Bang, and our numbers to easily exceed the lethargic 30 units sold in January of 2010. Prepare for one more rollercoaster year as nationally, real estate will be going up against the 2009 and 2010 tax incentives. Hence, just when we would think things are rolling, we may see our March-May numbers down 20-30 % against 2010. This may give us one last low interest hurrah, and then prepare for a steady market based, supply and demand recovery over the entire last 6 months of 2011.

I recently shared stats and data with the Board of Directors at the Longmont Chamber of Commerce, and my numbers suggest that the stimulus gave us an artificial boost of 10% more unit sales than we may have otherwise had. I would think 2011 a good year if we match numbers with 2010 in 2011, but without a stimulus! If we are doing better year over year by October, we will be tracking toward a genuine recovery.

(Continued on Page 4)

President’s Message

...by Dave Wagner

The News

3

4

Signing off on 2010, I would like to thank all the members who volunteered their time serving our Association and our community in many different ways. I am happy to report that we have stabi-lized our membership numbers and operated within our budget thanks to our past President Deanna Dyer, our Executive Vice President Amy Aschenbrenner, and our Finance Chair Tara Boston. Not only did they manage to our numbers, they communicated with our membership well, and made pay-ing for classes so easy, that our non-dues revenue from membership “buying local” helped us keep our membership dues in check

Finally, we have a new “face” on our Association office, with new windows, and a front exte-rior remodel, that was partially accomplished through grant money awarded by the Downtown Devel-opment Authority.

My message in 2011 to the public will be that home ownership does matter, and that buying and selling local, matters. Our Association of REALTORS® does make a difference, as our govern-ment affairs committee works hard to find candidates for office next fall that will best support not only small business, but an individual’s right to own, use, and transfer real property. I am counting on our members to invite the next round of endorsed candidates to their offices so that we may all share with our clients, who have all ready trusted us with their important decisions before! Have a great New Year!

(For your reference, attached the median price trends, and especially note unit and dollar sales summaries, in some of our surrounding markets).

Dave Wagner

2011 President

(dave@wagnercolorado.com)

(Please see Page 5 for attachments.)

President’s Message...Dave Wagner

The News

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5

President’s Message...Dave Wagner

The News

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6

January 2011

Sun Mon Tue Wed Thu Fri Sat

1

2 3

4 5

6

10am—3:30pm

Blood Drive @

LAR

7 8

9

10

8:30am—

9:30am

Marketing

Session

11

12

9am—1:00pm

2011Forms &

Contracts

Review Class

13

1pm—5:00pm

Understanding

Home Inspections

Class @LAR

14

IRES Public

Records

Class @LAR

15

16

.

17

LAR Closed

Martin Lu-

ther King Jr.

18

11am—1pm

Lunch & Learn

@LAR

19

20 9am-1pm 2011

4 Hr. Commission Update Class

21

22

23 24 25

26 27

2pm-4:30pm

IRES COMPS /

CMA @LAR

28

29

30 31

Be sure to look at your Friday Notice for more information on

meetings & events at the LAR!

7

The News

Jan 12th 2011 Forms & Contract Review 9:00am - to 1:00pm 4 Hours CE Credit Instructor: Lorraine Roemer $35 REALTORS®/$50 Non-Members Jan 13th Understanding Home Inspections 1:00pm—5:00pm 4 Hrs. CE Credit Instructor: Rob Knepshield $20 REALTORS®/$30.00 Non-Members Jan 14th- IRES Public Records Class 9:00am - to 11:00am 2 Hours CE Credit Location: LAR Jan 18th Lunch & Learn— 2012 Changes to Personal & Business Taxes 11:00am—1:00pm Instructor: Steve Anderson, Anderson—Derr, P.C. Jan 20th 2011 4Hr. Commission Update Class 9:00am—1:00pm 4 Hrs. CE Credit Instructor: Lorraine Roemer $35 REALTORS®/$50 Non-Members * For complete class details and to register for any of the above classes, please visit our website at www.longmontrealtors.com just click on the education tab.

Please Support your Association by taking your

classes at LAR!

Thank you to the following Affiliates for Supporting our Classes held in December:

Dec. 2 Ken Peter— Pillar to Post Dec. 9 Luke and Shelley Kunselman—The Kunselman Team

Dec. 16 Kyle Snyder—Land Title Dec. 30 Ilan Levy—Exodus Moving and Storage

8

The News

SureClose Lands the Deal with a Lower Fees for Small Office By Niki Moran, IRES Projects Manager

If you are from a smaller office with 1 to 10 agents, SureClose is offering a fantastic

new rate package! Now you can get this powerful online transaction management

system and still stay within your budget. Use the IRES templates which mirror the

flow of transactions, and improve accuracy, security, and communication. If you’d

like to learn more about the system, please call the IRES office (800-596-4901) to

set up a demo.

What’s the offer?

For offices with 1-5 agents, there is a low $250 initiation fee. This includes a full day of training from IRES and SureClose for your agents and staff, plus continued phone support and user group meetings. Each month, you will be charged a flat fee of $25 for unlimited use of the system for everyone in your office.

For offices with 6-10 agents, there is the same $250 initiation fee and $25 per month, which includes 5 agents. There is simply another $5 added per month for each additional agent, up to 10. This also includes unlimited use of the system for everyone in your office.

Larger offices with more than 10 agents can also get in on SureClose services and training. More info can be found at www.PropertyInfo.com/IRES including training guides, FAQs and customer testimonials. IRES researched various Transaction Management systems to find the right mix of cost, security, flexibility, features, and reliability. We found the answer in SureClose, so we entered into an agreement with them to be our Transaction Management partner. We hope you take advantage of this great offer and close on the SureClose deal yourself!

IRES...SureClose Lands the Deal

9

The News

Simplify your life!

Get educated…

ONLINE!

Earn your CE in the comfort of your home, office – anywhere.

www.vaned.com

IRES Education Calendar

10

PRIMARY REALTOR® MEMBERSHIP: Mark Haan—Re/Max Traditions, Inc. Bob Luna—Crescent Properties, LLC MB Amy Powell—KW 1st Realty Associates

REALTOR® TRANSFERS: Mary Colwell—KW 1st Realty Associates—Wright Kingdom Real Estate Marie Aragon—Prudential Real Estate of the Rockies—KW 1st Realty Associates

PRIMARY REALTOR DROPS: Joe Waneka—ERA Tradewind Real Estate Maribeth Bowles—ERA Tradewind Real Estate Lisa Henry—ERA Herman Group Diane Morehead—ERA Herman Group

PRIMARY AFFILIATE Transfers: Scott Drees—Premier Mortgage

SECONDARY AFFILIATE MEMBERSHIP: Debbie Fitzgerald—Heritage Title Company

Your local Land Title real estate sales

and marketing consultant is

Kyle Snyder

303.328.7157

or

ksnyder@ltgc.com

Do You Have A Change?????

Please notify LAR

whenever you have a change in

address, email, or phone number.

The News

11

Industry Update by Greg Grandchamp, Caliber Funding, LLC

The News

So here we are at the start of another new year, and sadly without much direction or a whole lot of light at the end of the tunnel. What’s worse is that many fear the light we do see may be an oncoming train. But as in so many other aspects of life, if we continue to focus on the obstacles, we miss the opportunity.

The past 2 or 3 years have been challenging, to say the least. Between Fannie, Freddie and FHA,

2008/2009 saw more than 2,800 guideline changes and I am confident that when the numbers

are in, 2010 will be a close second. While we have seen some easing in areas, the documentation

required of every seem to be ever-increasing, with every loan highly scrutinized. Simply docu-

menting income and assets is no longer enough – lenders now review deposits, nsf’s, tax returns

in more and more cases, other addresses that might appear in the credit report, and so on and

on, ad infinitum.

What does 2011 hold for the mortgage industry and the real estate market in general? It’s impos-

sible to predict with any kind of accuracy, as there are simply too many variables.

Will mortgage interest be eliminated as a tax deduction?

What impact will inflation have, if any?

Will the Fed continue to support keeping interest rates in check?

What impact will implementation of QE2 have on mortgage bonds?

…and so on.

As we stand today – or at least as I write this prior to year-end – bonds remain significantly over-

sold and are still trying to find bottom. If stocks continue to rally it would be at the expense of

bonds, putting continued upward pressure on interest rates. Inflation is inevitable. Housing

and electronics, like big screen tv’s, keep the overall inflation factors under control, but we see

the signs in commodity prices that inflation is lurking. In fact, China is experiencing super-hot

inflation, and People’s Bank of China has continued to tighten lending requirements – a sure

sign they see inflation as the coming train. And in this global economy, any signs of inflation

will drive bonds lower and rates higher.

12

Industry Update by Greg Grandchamp, Con’t.

The News

In other words, the technical signs are all in place – as they have been since the first quarter of

2010 – for an increase in rates through the early part of 2011. Yeah, yeah, I know – I sound like

a broken record. But I can’t ignore the economic indicators. In fact, there are only a couple of

things that could perhaps return us to a lower rate environment, including if the tax cut package

doesn’t pass (bad for the economy, good for mortgage rates.)

So what are we to make of all this doom and gloom?

There is a story around that the Chinese word for “crisis” is made up of two distinctive charac-

ters that depict “danger” and “opportunity." The story is an urban legend - absolute bunk - but

the point is a good one anyway. I remember Reggie Rivers, speaking at the LAR awards banquet,

talking about “controlling what we can control.” What we control is the opportunity right in

front of us. What does today’s market offer us right now?

We all have experience with the fence-sitters. In fact, I’d say that in this uncertain economy,

fence-sitting has become a new art form. Yet, in my opinion, anyone who decides to ride out the

real estate market before listing, or waiting for prices and interest rates to “hit bottom” before

buying, is making a serious financial miscalculation. Here’s why:

The so-called “bottom” of the market is nothing more than perception. It is not an actual date,

or price, or rate. In fact, the actual bottom of the market can never be identified except in hind-

sight once the market has begun to turn the corner and is on the rise again. In 35 years in the

industry, I have very rarely witnessed someone target the bottom and hit it – and then it was

luck. So it makes sense to play the percentages to determine the actual “bottom.” In other

words, is it likely that prices will continue to decline, or is it more likely that the market will seek

equilibrium and level out or begin to rise a bit?

The same thing holds true for interest rates. We remain at historic lows in interest rates – even

still. Is it likely that we will see a further decline, or are we more likely to see rates begin to rise

above these never-before seen lows? And exactly how much lower could rates go, compared with

the potential up-swing in rates? By waiting, is a buyer waiting on a .25% drop in rates at the risk

of a .5 or even .75% bump up?

13

Industry Update by Greg Grandchamp, Con’t. The News

What does either mean for the home buyer or seller?

Well, I’m not saying anything you don’t already know when I state that a person who sells one house and buys

another concurrently, does so in the same market, they are doing nothing more than trading equities. If one

sells in a “down” market, they also buy in a down market. Waiting to sell in a “better” market means they will

also buy in a better market. Assuming a move up, waiting will cost them more to buy the new house than they

will lose on the current home. (2% of the lower-priced home is less than 2% of the new, higher –priced home.)

Clearly, the time to sell is also…NOW.

As for the buyer…

In the chart below, the curved line is the housing market over time; both on the way down, at the bottom (point

C), and on the way back up. The line represents the likely sell or buy price (say, $250,000) – the same price, but

one sells or buys while the market is moving “down,” but the other after the market has turned the corner. Let’s

face it, no one ever hits it perfectly at the bottom; because, like I said, we don’t know it was the bottom until the

corner has been turned.

As a good listing agent, you know that in responding to an offer in a “down” market, you are much more likely

to advise your seller to accept a low offer, or to include seller paid costs and/or other considerations. Whereas

an offer for the same house at the same price, but in a rising market that has just come out of a slump, a below-

list offer could be rejected, or at minimum be absent any additional considerations. So the time to buy is…

NOW.

The bottom line? 3, 5, 10 years down the road – the home will be worth the very same regardless of when they

bought, their profit will be the very same, and their equity the same in either case. A boon for the buy-only cli-

ent who bought on the way down, and a financial wash for the seller/buyer, but who would have the enjoyment

of their new home for a longer time.

We can’t control legislation, the economy, interest rates, or inflation. But there are opportunities in front of us

right now if we know how to advise our clients and are equipped with information to support our advice.

Best wishes for a joyful and prosperous 2011 on behalf of your LAR Affiliate Committee and myself!

_______________

C

Housing Prices Over Time

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Newspapers, like any other products and services, have reinvented themselves and evolved since their inception—the most significant phase of that evolutionary process being its extension and expansion into the Internet. No longer do newspapers only represent the print media.

The newspaper industry now encompasses a diverse array of products and services that transcend conventional newspaper formats. Though the print model of newspapers is still the dominant core of the newspaper industry, newspaper companies throughout the world have transcended into ambitious websites that replicate the entire newspaper and also provide links to sites that represent major business segments such as automotive and real estate. Mobile phone messaging and advertising are also now part of the newspaper industry’s diversification.

I-pads and eReaders are thought by many to have been the biggest gifts this past holiday season; hence, newspaper web options should continue to grow as information and shopping "portals" ensuring that web and mobile device clients start with the news website for all of their web needs, including but not limited to news, local information, shopping, gaming, and social net-working.

Newspapers can now offer much more to advertisers and readers by way of technological advancements and delivery systems, while also providing them with the benefits of a massive newspaper online audience. In many respects, newspaper web and mobile sites serve as launching pads for all forms of web media and services.

Commercial printing has also become a major component of the newspaper industry. Several newspaper press facilities are now equipped with their own print shops that can print posters, flyers, business cards, customized letterhead, brochures, pamphlets, and mailers for clients. Newer presses offer commercial print opportunities for all businesses, allowing clients to have thousands of their own quarter-fold, tabloid, or standard broadsheet publications printed for newspaper insertion or direct mail.

More specifically and locally, the Longmont Times-Call—a newspaper that has served hundreds of thousands of unique readers since 1871, has diversified its make-up and model in the past few years to include the most heavily trafficked local website in Longmont, with more than 2 million monthly views and an astounding audience of more than 130,000 unique visitors every month who each invest an average of 17 minutes per view.

Continued Page 15

The News Industry Article...by Tanya Aschenbrenner,

Longmont Times Call

15

The Longmont Times-Call has also ventured into all of the above, and can provide our clients with all that has been mentioned. We are a diverse communications company with an enormity of print, online, new technology, and multi media products and services.

Our newspaper has most recently provided readers and advertisers with mobile cell advertising, and we can feature open house event listing and mapping on mobile phones.

We have also recently launched a daily online replica edition of the entire newspaper every day, including all advertisements of the day. Again, the evolutionary process is in full-scale swing to ensure growth, development, and the attraction of new audiences to join our retained popula-tion of regular readers.

We feature digital editions of our weekly Real Estate section which are posted online. We also feature LocalBizSearch.com, a comprehensive business listing for the entire Front Range of Colo-rado, which is an ideal showcase for real estate agents to maintain a constant web presence through the newspaper.

As your account executive for the Longmont Times-Call, I am ready, willing, and able to engage myself fully to the real estate community. I am a seasoned veteran of the sales and marketing in-dustry, and have served successfully and reputably at the Longmont Times-Call for more than 10 years.

Newspapers, as a communications business, are here to stay. They may change in size and format, and expand into the fathomless world of the Internet, but they are here to stay. And the Long-mont Times-Call will remain accordingly as your premier source of local news and information.

The News Industry Article...by Tanya Aschenbrenner, Con’t.

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The News

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The News

REALTOR Day at the Capitol! Each year over 200 Colorado REALTORS® meet at the state capitol to learn and discuss the important policy issues affecting the real estate industry. REAL-TOR® Day at the Capitol is a great opportunity for you to:

• See our state legislature in ac-tion

• Get up to date on the impor-tant issues impacting your busi-ness and your industry

• Network with legislators

• Hear from key leaders in the House and Senate

• Advocate for your industry!

Pre-register by Thursday, February

3, 2011 for only $50*

You can pre-register online today by

selecting the "Register On-Line

NOW" tab to your left.

Register after February 3rd for $60

(onsite registration for luncheon will

be subject to availability). Space is

limited so it’s best to pre-register!

*Includes lunch and pro-

gram materials

REALTOR Day at the Capitol!

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The News

Barbara Koelzer, Regional Government Affairs Director

January 2011

Government Affairs Update

January 2011

Barbara Koelzer, Regional Government Affairs Director

barbara@ires-net.com

303.886.5675 Boulder County

RTD Considering Additional Tax for FasTracks: The Regional Transportation District has been meeting with area city councils, gathering input on a possible proposal in November 2011 to ask district voters to consider an additional sales tax for the FasTracks rail transit program. RTD is floating various scenarios: a .1 percent sales tax increase would allow 35 percent of the remaining project to be finished by 2020 and the entire system would be complete by 2035. However, in order to complete the entire project by 2018 (as RTD initially planned) a sales tax increase of .4 would be required. RTD’s polling doesn’t show much support for a .4 percent tax increase, which would double what voters approved in 2004. Without some additional revenue, the Northwest rail corridor that would serve Boulder and Longmont is unlikely to happen given lower than anticipated revenues and higher construction costs that have increased the cost of the project. However, city councils in Boulder and Longmont are reluctant to support an additional tax given that their municipalities haven’t seen any benefit from the tax yet and do not believe local voters would support another one.

Commissioners Tweak TDR Program: Boulder County implemented a 6,000 SF home size limit in August 2008 as part of the Comprehensive Plan’s Sustainability Element. Anyone wishing to construct a home greater than 6,000 SF is required to purchase additional development credits with a sliding scale depending on the size of the home proposed. According to staff, the market rate of a development credit is $7,300.

The first amendment would decrease the number of development credits necessary to build homes over 8,000 SF by adjusting the scale so that each additional 500 SF increment of floor area over 7,000 SF would require two rather than three development credits. The Planning Commission did not support this change, saying there was no need to make the requirement more lenient.

The second amendment provides a one-time allowance to add 200 SF of residential floor area. This exemption allows a property owner to allow owners to add a closet or bathroom without burdening them with the additional expense of purchasing a development credit.

19

Longmont Council Sets Topics for Retreat: The City Council finalized its list of topics for its Jan. 21-22 retreat. After much discussion, the topics determined by Council as priorities for the coming year are: water (Windy Gap and Button Rock), economic development, transportation and a proposed St. Vrain River Walk redevelopment project. Coun-cil member Sarah Levison argued that teamwork and conflict resolution should be one of the priority topics but was ultimately over-ruled by Mayor Baum and Council members Sammoury and Santos, who said that residents expect their elected officials to talk about important City issues at the retreat. However, Levison was insistent and ultimately the Council agreed to meet on a separate occasion for teamwork training.

Council Approves 2011 LAEC Contract: The City Council approved next year’s contract with the Longmont Area Economic Corporation by a 5-2 vote, with Council members Sean McCoy and Brian Hansen dissenting. While Hansen gave no specific rationale for his opposition, McCoy said that the contract continues “the good old boy and girl way of doing business… I am disgusted with it.” He argued the jobs produced by LAEC are inade-quate and that the contract is a “poor use of City tax dollars.” Councilmember Gabe Santos said that since he became a liaison to LAEC’s Board of Directors he hasn’t seen anyone from Council at the LAEC meetings except the mayor; he urged the Council to read the frequent reports generated by the organization to understand how it works and how it has benefited the City. Santos also pointed out that of the $200,000 contract, only $59,000 is from the City’s General Fund (tax dollars) while the majority comes from enterprise funds (water, electric, etc.) that are self-funding.

NORTHERN COLORADO

EPA Issues Permit to Uranium Company: The U.S. Environmental Protection Agency has issued an injection well permit to Powertech USA that allows the company to re-inject groundwater from an aquifer pump test at its proposed Centennial uranium mine site in Weld County. The permit is the first of many required by the company in its quest to extract uranium from the Centennial site. The permit allows Powertech to study hydrogeology at the site, including data about the integrity of confining zones surrounding the injection area. Powertech intends to use in-situ mining to extract uranium deposits, a proposal that has engendered strong opposition by some local residents.

COLORADO ASSOCIATION OF REALTORS®

2011 Legislative Policy Committee Gets to Work: The members of CAR’s LPC rolled up their sleeves and held an in-depth discussion regarding bills that could be sponsored by CAR in the 2011 legislative session. Recent federal regulations offer broad language regarding seller financing. Therefore, CAR is looking for a sponsor for a bill to amend last year’s HB-1141 and allow seller financing three times per annum without requiring loan originator licensing. Protecting renters and ensuring they receive notification when a property in which they live is foreclosed is another topic that generated a long discussion. A more problematic issue is how to ensure security deposits are refunded to renters in cases of foreclosure; however the LPC did not reach consensus on this issue and it was noted the banking lobby would not support legislation making them liable for security deposits. Other legislative issues the LPC is considering include the selection of title com-panies in REO transactions and taking a position on private transfer fees. The LPC will continue to dis-cuss these issues and take positions on new legislation once the session convenes on Jan. 12, 2011.

The News

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NATION (from the National Association of REALTORS®)

Mortgage Interest Deduction Still Vulnerable: On Dec. 3rd 11 of the 18 members of a Congressional commission voted to support a controversial plan to slash deficits by nearly $4 trillion over the next decade -- too few votes to command quick action in Congress, but far more than even the panel's most ardent supporters had predicted just a few weeks ago.

As expected, the report recommends the repeal of nearly all current deductions, tax credits and exclusions (also known as tax expenditures). Of primary concern to REALTORS® is the inclusion of the mortgage interest deduction (MID). Under the proposal the MID, which has been in effect for nearly 100 years, would be converted to a non-refundable 12 percent tax credit. The eligible mortgage amount would be reduced from $1.1 million to $500,000. There would be no tax credit for second homes or home equity loans.

The report makes no explicit mention of the $250,000/$500,000 exclusion on the sale of a principal residence. If all tax expenditures were to be repealed, then that valuable exclusion would be repealed, as well. Similarly, the report makes no explicit mention of the like-kind exchange technique. Under the conventions tax analysts follow, the like-kind exchange is not counted as a tax expenditure, so it is not possible to say how or if those rules would be af-fected.

NAR anticipated an attack on the MID and a Congressional Call for Action was implemented before the commis-sion’s final vote on the deficit proposal. The co-chairs’ failure to get 14 of 18 members to support the plan means that it will not go immediately to Congress. However, that does not mean the plan is dead. President Obama issued a statement praising the commission's work, and vowed to consider its recommendations for inclusion in the administration's agenda for next year. NAR Deputy Chief Lobbyist Jamie Gregory says that if the President intends to fight for MID changes, he will mention it during the annual State of the Union address (Jan.24).

FTC Issues Rules on Mortgage Assistance Relief Services: Last month the Federal Trade Commission (FTC) is-sued text of the Final Rule on Mortgage Assistance Relief Services (MARS). The Rule: (1) prohibits providers of these services from making false or misleading claims; (2) requires disclosure of certain information about the ser-vices; (3) bans advance collection of payments for the services; and (4) prohibits those who may provide substan-tial assistance or support to providers who are in violation of the Rule. This spring NAR commented on the FTC's proposed MARS rule. NAR asked the FTC to exempt real estate agents and brokers engaged in real estate func-tions with regard to short sales including the typical advice real estate agents offer clients and former clients. Al-though the FTC did not explicitly follow NAR’s request, the preamble to the Rule states that real estate agents may perform functions such as listing homes for sale, showing homes, and finding desirable homes for consumers when properties are bought or sold through a short sale transaction.

The News

21

The News

The NAR Benefit REALTORS® Federal Credit Union is proud to be a REALTOR Benefits®

Program Partner! NAR has partnered with industry leaders to provide REAL-

TORS® with value-added offers and

significant savings on products and services they use every day. Through

unique understanding and real partnership, we guide members to securing

their financial independence, while

supporting NAR's mission and benefiting the greater community.

Who is eligible? Any member of or who works for the NAR as well as their

immediate family or household members.

When can you join? It can be as soon as your 1st day of membership or rele-

vant

affiliation with the National Association of REALTOR®’s.

What are the benefits? Highly competitive loan rates, savings rates and fewer

fees.

REALTORS® FCU Offers Industry Leading Certificate Dividends & Cash Back

Auto Loans

With Realtors® FCU, saving is made simple. Open a federally-insured investment

with a guaranteed return for as little as $1,000.00. Get an Industry leading rate of

1.66% APY on a 12-month certificate. For a limited time, REALTORS® FCU is of-

fering fixed auto loan rates as low as 4.75% APR plus $100 cash and no payment for

22

The News

Longmont Association of Realtors®

Mission Statement

The Longmont Association of REALTORS® is dedicated to providing

services and affiliations to our members necessary to conduct their

businesses in an ethical and professional manner. We act with a united

voice for our members and the public with regard to protecting and

p r e s e r v i n g t h e f r e e e n t e r p r i s e

The Longmont Association of Realtors® is pledged to the letter and spirit of

U.S. policy for the achievement of equal housing opportunity throughout the

nation. The Association encourages and