Monday, November 26, 2012

GTAR Weekly Facts – November 26, 2012

Deadline to register is November 29!
Experience Art in Tulsa!
Enjoy an evening of art at Philbrook Museum, featuring the annual Festival of Trees! Win door prizes and receive a discount on yearly membership to Philbrook. Event is Thursday, December 6, 4:00 to 7:00 p.m.; cash bar opens at 4:00 p.m. and hors d’oeuvres will be available at 4:30 p.m. Cost is $25 per person. Register online at; from the Main Menu, click on Member Resources tab, then GTAR Events. (You must register by this Thursday, November 29, if you want to participate!)
Don’t be Late!
GTAR 2013 Annual Dues – Deadline to Pay is November 30
REALTOR® members dues are $484; REALTOR-ASSOCIATE® members dues are $454.
Nominations Now Being Accepted: GTAR 2012 Sales Associate of the Year
The winner will be announced at the GTAR/NORES Installation & Awards Banquet January 24, 2013. Don’t miss the opportunity to recognize an outstanding Sales Associate. Nomination forms are available online at or click here. Deadline to submit completed forms to GTAR is December 15, 2012.
Nominations Now Being Accepted: GTAR 2012 REALTOR® of the Year
The winner will be announced at the GTAR/NORES Installation & Awards Banquet January 24, 2013. Don’t miss the opportunity to recognize a REALTOR® (Broker) for their service to the real estate industry. Nomination forms are available online at or click here. Deadline to submit completed forms to GTAR is December 15, 2012.
Upcoming CE at GTAR
For course details and online registration, log on to; from the Main Menu, click on the red Education bar, then click Register for Classes. (If you have a GTAR Class Pass, register by emailing or calling 918-663-7500.)
Fair Housing & Ethical Practices: Wednesday, November 28, 1:00-4:00 p.m. with Kathryn Jones; req. FHR CE (Last one of the year)
REALTOR® Ethics: Thursday, December 6, 1:00-4:00 p.m. with Kathryn Jones; this class is free, but you need to pre-register (Last one of the year)
December 3-4
Broker in Charge Course – Last one of the Year
8:30 a.m.-4:30 p.m. both days with instructor Ann Lloyd; lunch provided courtesy of one of GTAR affiliate members. OREC approved for 15 hours required BIC CE credit. Class size is limited to 15. Cost is $90 for GTAR members. This is the last Broker in Charge class of the year! Register online at
2013 GTAR/NORES Installation & Awards Banquet
Registration is now open! Seated dinner will be Thursday, January 24, 12:00 p.m. at the Hard Rock Hotel and Casino; cost is $25 per person. This year’s theme is Let the Good Times Roll. Join us in honoring our outgoing presidents, incoming presidents, officers and 2012 award winners. For banquet details and to make reservations online with a credit card, log on to; under the Member Resources tab, click GTAR Events, then 2013 Presidents’ Banquet. Or, complete the Reservation Form and fax it to 918-663-8815.
90 Years Young!
Helen Allen turns 90 in December!  We would like you to help her celebrate on December 4. There will be an Open House from 11:00 to 1:00 p.m. in the GTAR Training Center. Please let us know if you are able to stop by; RSVP by emailing Deb LaManque at There will be plenty of food and drink, and a dangerous birthday cake. Hope to see you there! Shhhhh…it’s a surprise! (Helen supposedly doesn’t use email, so she shouldn’t be reading this!)
October 2012 Home Sales Stats Now Available
Upcoming Computer Classes
Pre-registration is required; space is limited to 14 per class. For more information and to enroll: log on to, click the red Education bar on the Member Services page, then click Register for Classes. All classes are held in the GTAR Computer Lab, unless otherwise indicated.
Fusion 3 (Hands-on): Tuesday, November 27, 2:00-4:00 p.m.
Fusion 3 (Hands-on): Thursday, November 29, 9:00-11:00 a.m.
Leave Closing Process Alone, NAR Says
Improve the combined Truth in Lending disclosure and Good Faith Estimate, but don’t change the closing process, NAR tells the Consumer Financial Protection Bureau (CFPB) in comments to the agency’s 1,100-page rule to harmonize the Truth in Lending Act and Real Estate Settlement Procedures Act. NAR also suggested minor changes to the settlement statement to better disclose costs associated with appraisals.
Guidelines Address Money Laundering
Understand the impact of federal anti-money laundering rules in real estate in NAR guidelines on In general, real estate professionals aren't subject to federal anti-money laundering rules but it's important for brokers and sales associates to recognize and react to potential money laundering activities, and that’s what the guidelines are intended to do.
FHA Taking Steps to Shore-up Reserves
FHA's reserve ratio has fallen to a negative 1.44 percent, below the required 2 percent level, the agency's latest audit shows. FHA continues to have $25.57 billion in cash reserves, but that amount is below a requirement to keep 30 years’ worth of reserves on hand. In response, FHA will no longer cancel MIP when a borrower’s balance reaches less than 78 percent. And it will increase its annual premium by 10 basis points (approximately $13 per month for the average borrower). In response to FHA's actions, NAR issued the following statement: "NAR is a strong supporter of FHA and its vital role in the mortgage marketplace. We believe that FHA's audit is an unfortunate byproduct and reflection of the continuing housing market recovery; however, we are confident that FHA has already taken many of the necessary steps to help stabilize the fund and that rising home prices and continued market improvements will also improve its future financial condition."
CFA: Mortgage Cancellation Relief Still Needed
NAR's Call for Action to spur Congress to extend mortgage cancellation relief remains in effect. Encourage your members to take action if they haven't already. Under mortgage cancellation relief, borrowers who’ve had a portion of their mortgage balance forgiven, either in a modification or through a distressed sale, don’t have to count that forgiven amount as income for tax purposes.
NAR Honored with Business Award
NAR has been recognized for its success as a forward-looking organization by journalists and business analysts in the 2012 Best of the Biz Awards. The program recognizes companies and executives based on criteria measured by a panel of 40 judges that includes editors, publishers, and analysts with ABC, BusinessWeek, Forbes, Financial Times, USA Today, Entrepreneur, Inc., and King Features Syndicate, among others. The award names NAR CEO Dale Stinton Executive of the Year in the large companies category and cites the many major new initiatives NAR has put in place in recent years, including the association's Second Century Ventures and the REALTOR® Party Initiative. "This award recognizes the strength of the National Association of REALTORS® as an organization whose members are second to none when it comes to innovating and striving for what we believe in, which is a thriving real estate market that builds wealth and strengthens communities," says Stinton.
Discounts on Member Policy Manuals Ends November 30
November 30 is the deadline to buy hard copies of NAR's 2013 policy manuals and brochures. The manuals include the 2013 Code of Ethics and Standards of Practice, the 2013 Code of Ethics and Arbitration Manual, and the 2013 Handbook on Multiple Listing Policy, among others. Electronic versions of the policy manuals and related policy brochures will be available for download in January 2013 at no cost from
Rob Nahigian On Industrial Real Estate Courses
In the newest Commercial Intelligence Briefing podcast – Rob, who teaches a wide array of courses within his specialty area including Commercial and Industrial Representation, provides insights on several of these subjects. Topics in this podcast include a primer course in Industrial Real Estate, classes on Marketing and Negotiating, Building Wealth and Successful Sales Techniques.

Healthcare Real Estate: The Consolidation Trend
In the wake of the recent Healthcare and Real Estate Summit held in Chicago, a clearer picture is beginning to form of healthcare business trends and property dispositions going forward nationally under the Affordable Care Act. Read The Source Blog to learn more about how the commercial property professional in most markets is a stakeholder in these trends in a few different ways.
Comments on the following REALTOR® applicants should be submitted by REALTOR® members to the Membership Committee, c/o GTAR, PO Box 470603, Tulsa, OK 74147.
Patricia Key, d/b/a Key Real Estate (First Publication)