Santa Cruz County, Arizona Board of REALTORS®
Santa Cruz County, Arizona Board of REALTORS®
LET US NOT FORGET THE CODE OF ETHICS!
Preamble
Under all is the land.
Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. REALTORS® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.
Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which REALTORS® should dedicate themselves, and for which they should be diligent in preparing themselves. REALTORS®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow REALTORS® a common responsibility for its integrity and honor.
In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. REALTORS® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS®. (Amended 1/00)
Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, REALTORS® urge exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where REALTORS® believe that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.
The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.
In the interpretation of this obligation, REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, “Whatsoever ye would that others should do to you, do ye even so to them.”
Accepting this standard as their own, REALTORS® pledge to observe its spirit in all of their activities whether conducted personally, through associates or others, or via technological means, and to conduct their business in accordance with the tenets set forth below. (Amended 1/07)
| SALES STATS YEAR TO DATE |
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TUBAC |
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Rio Rico |
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Nogales |
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| Month |
Sales |
Ave. Price |
DOM |
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Sales |
Ave. Price |
DOM |
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Sales |
Ave. Price |
DOM |
| Jan. |
0 |
$0.00 |
n/a |
|
8 |
$232,818.00 |
248 |
|
2 |
$112,500.00 |
56 |
| Feb. |
1 |
$305,000.00 |
93 |
|
10 |
$189,790.00 |
124 |
|
5 |
$187,340.00 |
214 |
| Mar. |
3 |
$415,000.00 |
84 |
|
7 |
$185,621.00 |
295 |
|
3 |
$87,333.00 |
49 |
| Apr. |
1 |
$700,000.00 |
140 |
|
13 |
$140,638.00 |
116 |
|
3 |
$155,501.00 |
114 |
| May. |
1 |
$243,000.00 |
361 |
|
12 |
$198,058.00 |
160 |
|
7 |
$113,201.00 |
140 |
| Jun. |
1 |
$975,000.00 |
252 |
|
17 |
$165,595.00 |
186 |
|
5 |
$139,900.00 |
96 |
| Jul. |
0 |
$0.00 |
n/a |
|
6 |
$138,500.00 |
124 |
|
2 |
$144,250.00 |
106 |
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| This information is deemed reliable but not guaranteed. |
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PRESIDENT’S CORNER
National Association of REALTORS®
Summary of Key Provisions of H.R. 3221 - The Housing Stimulus Bill (as of 7/30/08)
H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions:
- GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500. The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008).
- FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program. The downpayment requirement on FHA loans will go up to 3.5% (from 3%). The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008).
- Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).
- FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans. Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30-year fixed mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The loan limit for this program is $550,440 nationwide. Program is effective on October 1, 2008.
- Seller-funded downpayment assistance programs – codifies existing FHA proposal to prohibit the use of downpayment assistance programs funded by those who have a financial interest in the sale; does not prohibit other assistance programs provided by nonprofits funded by other sources, churches, employers, or family members. This prohibition does not go into effect until October 1, 2008.
- VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.
- Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year. This provision is effective from October 1, 2008 through September 30, 2009.
- GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.
- Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.
- National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs. In its first years, the Trust Fund would cover costs of any defaulted loans in FHA foreclosure program. In out years, the Trust Fund would be used for the development of affordable housing.
- CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
- LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.
- Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system (and requires a parallel HUD system for states that fail to participate). Federal bank regulators will establish a parallel registration system for FDIC-insured banks. The purpose is to prevent fraud and require minimum licensing and education requirements. The bill exempts those who only perform real estate brokerage activities and are licensed or registered by a state, unless they are compensated by a lender, mortgage broker, or other loan originator.
For more information, visit http://www.realtor.org/governmentaffairs.
In a statement, NATIONAL ASSOCIATION OF REALTORS® President Richard F. Gaylord said the bill “is a big step toward helping people buy and keep their homes.
6 Turnoffs That Make Clients Cringe
Of course, you aim to be highly regarded by both clients and colleagues as effective, professional, and ethical. So make sure some of your actions and words aren't posing a big turnoff to customers.
Here are six signs, according to the magazine U.S. News & World Report, that could lead homebuyers and sellers to the conclusion that a real estate practitioner may not be 100 percent committed to the job.
1. Failure to communicate. Don't expect the customer to wait around for you. A practitioner who doesn’t answer e-mail or return calls in a timely fashion is a big turnoff.
2. No good ideas. The reason a home seller hires a professional is to get selling help so you need to be able to step up to the plate and offer some fresh ideas.
3. Love me, love my friends. Recommendations are one thing, but insisting that clients use affiliates makes it look like a practitioner is getting a cut – even when you're not.
4. Part-time priorities. Selling real estate part time isn’t necessarily a bad thing, but failure to focus is.
5. All in the family. A practitioner who only shows his own listings or those of his brokerage is subordinating his client’s best interests.
6. Not licensed, unethical. Every practitioner should have an up-to-date license and a record that is free of disciplinary actions.
TALKING POINTS
The Santa Cruz County Board of REALTORS® are collecting backpacks and school supplies for children in need in Rio Rico and Nogales. Please drop off your donations to the Board Office, Rio Rico Homes and Land or Century 21 Success Realty. Thank you!
A Fundraising Committee meeting will be held on Tuesday, August 5 at 12:30 PM at the Board Office. The purpose of the meeting will be to discuss the 12th Annual Golf Tournament which will be held on Saturday, October 4 at Kino Springs Golf Club. Lunch for this meeting is bring your own. Sponsors and golfers needed!
The Annual General Membership and Election Luncheon will be held on Tuesday, August 26 at 12 NOON at the Esplendor Resort. Lunch will be a buffet and cost is $20 per person. If you will be attending please contact the Board office by Monday, August 18.
The Santa Cruz County Board of REALTORS® Election Ballot is:
2009 President Elect- Nanci Pottinger
2009 Treasurer- Kim Beedy
2009 Secretary- Jennifer Rainey
Directors- (Choose 4)
Kathi Campana Lupita Mendoza
Fred H. Johnson Maria Esther Solis
Mindy Maddock Emily Wilson
The Santa Cruz County Multiple Listing Service Election Ballot is:
2009 MLS Vice President- Aracely Stout
Election shall be by ballot and all votes shall be cast in person.
The National Association of REALTORS® requires that a Code of Ethics class that satisfies NAR requirements be taken once every four years. This means you need proof of attendance that you have taken this class in 2005, 2006, 2007, or 2008.
Two continuing education classes will be offered on Thursday, August 28 at the Board Office. The instructor is Len Elders of Hogan School of Real Estate. There will be a $25 charge for each class for ALL attendees.
Three hours of General Credit:
9 AM to 12 Noon - "Short Sales and Creative Financing Strategies"
Please register at: http://www.sccazrealtor.com/general-real-estate-course.html
Three hours of Commissioner Standards Credit:
1 PM to 4 PM - "Code of Ethics 2008- Procuring Causes in Trial"
Please register at: http://www.sccazrealtor.com/commissioners-standards-course.html
Two continuing education classes will be held on September 17 at the Board Office, Cost is Free to Santa Cruz County Board of REALTORS® members:
Three hours of Fair Housing Credit - "It's Not an Option!
9 AM to 12 NOON - Instructor is Bridget Reynolds
Please register at: http://www.sccazrealtor.com/fair-housing-course.html
Three hours of Real Estate Legal Issues Credit - "The Minefield of Risks"
1:15 PM to 4:15 PM- Instructor is Bridget Reynolds
Please register at: http://www.sccazrealtor.com/real-estate-legal-issues-course.html
The Rio Rico Property Owner's Association, also known as Residents of Rio Rico, will host a Candidate's Forum on Tuesday, August 19 at 6 PM at the Rio Rico Community Center, 393 Avenida Coatimundi. The public is invited to attend and is encouraged to bring written questions for the moderator to put before the candidates.
A forum to discuss the pros and cons of Propositions 400 & 401 regarding the Santa Cruz County Comprehensive Plan will be held on Wednesday, Aug. 20 at 5:30 PM at the Tubac Community Center.
A Candidate's forum will be held on Thursday, Aug.21 at 5:30 PM at the Tubac Community Center. This is sponsored by the Tubac Chamber, Sant Cruz Valley Citizens Council, Tubac Community Center and the Nogales International.
WELCOME NEW REALTOR® MEMBERS
Meet our new members by going to: http://www.sccazrealtor.com/new-member-jul08.html
CALENDAR OF EVENT
Mark your calendars and click on www.sccazrealtor.com/calendar-of-events.html
QUOTE
Welcome every morning with a smile!
Og Mandino
Constructive ideas, suggestions and comments are welcome!
Donna R. Beedy
2008 President
Santa Cruz County Board of REALTORS®
donna@sccazrealtor.com
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