NOTICES:
NOW LATE!
2013 Annual Dues
If you have not paid your GTAR dues, a $20 late
payment fee has been added to your account. Payment was due by November 30, 2012. REALTOR® dues are $484
and REALTOR-ASSOCIATE® dues are $454.
GTAR/NORES HOLIDAY SCHEDULE
Monday, December 24: Office closes at 12:30 p.m.
Tuesday, December 25: Office is closed all day
Monday, December 31: Office closes at 12:30 p.m.
Tuesday, January 1: Office is closed all day
December 26 until
January 2: Board Store Closed for Inventory
The GTAR/NORES Board Store will be closed for inventory Wednesday,
December 26 until noon on Wednesday, January 2, 2013, so please plan ahead.
This will not affect Key and KeyBox purchases.
COMMERCIAL RE:
NAR: Extend
Energy Efficiency Tax Deduction
NAR sent a letter supporting legislation to
extend the tax deduction for energy efficient commercial and multifamily
buildings. The legislation, "The Commercial Building Modernization Act,"
S. 3591, makes a number of NAR-supported reforms as well.
Basel III:
Mortgages Face Stark Treatment
Proposed
Basel III capital rules will have a detrimental effect on the accessibility and
affordability of residential and commercial mortgage credit due to a
disproportionate risk treatment of mortgages, NAR says in a letter to a Senate panel looking
at the standards. NAR recommends the proposed regulations be modified to more
accurately correlate the risk characteristic of mortgages with the proposed
risk weights. The standards are slated to be implemented beginning in 2013
through 2018.
EDUCATION &
EVENTS:
Registration is Now Open!
2013
GTAR/NORES Installation & Awards Banquet: 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 tulsarealtors.com; under the
Member Resources tab, click GTAR Events, then 2013 Presidents’ Banquet. Or,
complete the Reservation Form and
fax it to 918-663-8815.
GOVERNMENT/LEGAL:
Fiscal Cliff:
What It Means for Real Estate
The
federal government is grappling with looming tax increases and spending cuts at
the end of the year unless an agreement is reached to avert the so-called
fiscal cliff. NAR Chief Economist Lawrence Yun and NAR Economist Danielle Hale
walk you through the tax increases and spending cuts subject to the deadline in
a 9-minute video.
Consumers,
Economists See MID Differently
NAR
Chief Economist Lawrence Yun defended the mortgage interest deduction against a
panel of economists in an episode earlier this week on the Diane Rehm radio
show, which is distributed by NPR. Consumers calling into the show
overwhelmingly supported MID as a key incentive for wealth building for the
middle class. Access a summary of,
and link to, the show.
Don't
Forget: Call for Action on Housing
The
REALTOR® Party needs your help to protect the stability of the
American housing market. By now you have seen numerous news reports concerning
the "fiscal cliff." Many of these reports speculate that a change to
the long-standing policy that allows home owners to deduct mortgage interest
payments from their income taxes could be part of a deal. Remind Congress about
our position on any proposed changes to the mortgage interest deduction. Learn more.
Agents,
Others Get Warnings Over Mortgage Ads
The
Federal Trade Commission has issued warning letters to 20 companies, including
real estate agents, home builders, and lead generators, about possible
violations of the Mortgage Acts and Practices Advertising (MAP) Rule. MAP took
effect last year to ban material misrepresentation in advertising about
consumer mortgages. The FTC has created mock ads to illustrate
improper claims. Outlawed practices include offering low fixed rate mortgages
without full mortgage loan terms, implying a government affiliation, or
guaranteeing approval with low monthly payments without disclosing significant
strings. Access NAR's advisory
on MAP.
FHA Needs
$13.47 Billion to Shore Up Reserves
NAR in a letter supported FHA's
efforts as it faces financial pressure. The agency is projected to have a
negative capital reserve ratio of 1.44 percent, less than a required 2 percent.
They need an addition $13.47 billion.
NAR Seeks Res., Comm. Mortgage Bills
NAR wants to see swift passage of "The Responsible Homeowner Refinancing Act," S. 3522, to provide some relief to underwater homeowners who continue to meet their mortgage obligation during the economic downturn, and “The Small Business Lending Enhancement Act of 2012,” S. 2231, to increase a business lending cap on well-capitalized credit unions.
NAR wants to see swift passage of "The Responsible Homeowner Refinancing Act," S. 3522, to provide some relief to underwater homeowners who continue to meet their mortgage obligation during the economic downturn, and “The Small Business Lending Enhancement Act of 2012,” S. 2231, to increase a business lending cap on well-capitalized credit unions.
INFORMATION
TO USE:
FedEx: Save on
Holiday Shipping
REALTOR
Benefits® Program participant FedEx offers two ways to get your
gifts to where you want them by Christmas: 1) Ship with FedEx Ground by December
17 or ship with FedEx Express by December 22, and 2) enroll in the FedEx
Advantage® program to save up to 26 percent on shipping. More.
Dodge Dart
Available Through Chrysler Offer
Chrysler
Group LLC is offering a special cash allowance offer on its popular Dodge Dart.
Members receive a $500 cash allowance on the lease or purchase of select new
2012 and 2013 Chrysler, Dodge, Jeep and Ram vehicles. Additionally, purchase of
a vehicle before year’s end for use in business may qualify for a unique tax
benefit. (A tax advisor should be consulted.) Chrysler is the official
automobile manufacturer of NAR.
Free Consumer
Content: Holiday Planning
The
latest free content for your websites, blogs, social media pages, and print
resources from HouseLogic's REALTOR® Content Resource looks at holiday planning ideas.
MEMBERSHIP APPLICATION:
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.
REALTOR®:
Frank
Perdichizzi, Private Label Realty (Second Publication)
J.
R. Spence, HomeWorx, LLC (Second Publication)
