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Opportunity 2015: Imagine Yourself as a Member of the LAR Board of Directors As a member driven association, governance functions through volunteer leadership. The Board of Directors is the governing body of the association, composed of three leadership positions appointed by the Nominating Committee—President, President Elect and Secretary/Treasurer. It includes twelve elected director positions that serve two-year terms. Six new directors are elected annually on the third Thursday in September (09/18/14). The association is now accepting nominations for 2015 officers and 2015-2016 directors.

Board member responsibilities include: • Attendance at monthly LAR board meetings (may not miss more than

three meetings to remain on the board), which are usually held on the third Thursday of each month;

• A commitment to invest in TREPAC (the Texas Real Estate Political Action Committee);

• Serve as an ambassador of the association to promote LAR’s products, tools, education, services and provide information to your firm and other association members;

• Participation in LAR events through out the year.

Phone (806) 795-9533 Fax (806) 791-6529 5015 Knoxville Avenue, Lubbock Texas 79413-4039

2014 Board Officers2014 Board Officers2014 Board Officers2014 Board Officers

Nancy Rawls, President

Rusty DeLoach, President Elect

Charles Kearney, Treasurer

Jef Conn, Secretary

Coby Crump, Chairman of the Board

DIRECTORSDIRECTORSDIRECTORSDIRECTORS

Cynthia Arriaga, 2013—2014

Leigh Anne Brozo, 2014—2015

Vanessa Dirks, 2014—2015

Frank Harmon, 2013—2014

Jacky Howard, 2013—2014

Larry Jones, 2014

Tara Newton, 2014—2015

Nathan Jordan, 2014—2015

Jeff Sellers, 2014—2015

Susan Shakespeare, 2014—2015

Dan Williams, 2013—2014

Jana Wuthrich, 2013—2014

EX OFFICIO DIRECTORSEX OFFICIO DIRECTORSEX OFFICIO DIRECTORSEX OFFICIO DIRECTORS

Tim Garrett, 2014—2015 Regional

Vice President and TAR Director

Ann Kearney, 2014-2016 TAR

Director

John Walton, TAR Director Lifetime

REALTOR www.lubbockrealtors.com

L U B B O C K ®

JUNE 2014

Categories May 2013 May 2014 Percent Change

Total Residential Property Sales 427 361 -15.5%

Total Residential Dollar Volume $65,309,195 $58,397,155 -10.6%

Average Single-Family Sales Price $152,949 $161,765 5.8%

Median Single-Family Sales Price $129,500 $129,950 0.3%

Total Active Residential Listings 1,150 990 -13.9%

Total Pending Residential Sales 334 617 84.7%

Months Inventory* 3.8 3 -21.1%

*Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.

Year-to-Date Comparison

Categories Jan-May 2013 Jan-May 2014 Percent Change

Total Residential Property Sales 1,658 1,632 -1.6%

Total Residential Dollar Volume $251,588,605 $258,143,645 2.6%

Average Single-Family Sales Price $151,637 $150,185 -1.0%

Median Single-Family Sales Price $123,000 $117,000 -4.9%

No�ce on this informa�on: Mul�ple Lis�ng Service data is reported to the Real Estate Center at Texas A & M and the Na-

�onal Associa�on of REALTORS® on the eighth of each month. Year-to-date data may be corrected for informa�on reported

a(er the eighth. Neither the associa�on nor its MLS guarantees or is in any way responsible for its accuracy. Data maintained

by the associa�on or its MLS may not reflect all ac�vity in the real estate market.

APRIL MONTHLY MARKET COMPARISON

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If you or someone you know would make an exceptional leader and are prepared to commit your time, talents and passion to make a difference by being a part of the LAR’s Board of Directors, please submit your name to cadefowler@lubbockrealtors.com. Nominations are anonymous. Nominations must be submitted by July 31, 2014. The qualifications to serve in a leadership position are: DIRECTORDIRECTORDIRECTORDIRECTOR ♦ REALTOR® member in good standing. ♦ Holds a valid, active Texas real estate broker or

salesperson’s license.

♦ Member of the LAR for at least two (2) years prior to election, and served as a member of a standing committee or task force.

♦ Elected directors cannot serve more than two (2) consecutive terms.

PRESIDENTPRESIDENTPRESIDENTPRESIDENT ♦ REALTOR® member in good standing. ♦ Holds a valid, active Texas real estate broker or

salesperson license.

♦ Served at least one term as an Officer. PRESIDENT ELECT PRESIDENT ELECT PRESIDENT ELECT PRESIDENT ELECT (automatically ascends to President) ♦ REALTOR® member in good standing. ♦ Holds a valid, active Texas real estate broker or

salesperson license.

♦ Served at least one term as a Director. SECRETARY/TREASURERSECRETARY/TREASURERSECRETARY/TREASURERSECRETARY/TREASURER ♦ REALTOR® member in good standing. ♦ Holds a valid, active Texas real estate broker or

salesperson license.

♦ Served at least one term as a Director. ♦ Served at least one term as a member of the Finance

Committee. Directors presently serving and will continue to servecontinue to servecontinue to servecontinue to serve in 2015 are:

• Leigh Anne Brozo – The WestMark Companies

• Vanessa Dirks – The WestMark Companies

• Nathan Jordan – Century 21 John Walton, REALTORS®

• Tara Newton – Keller Williams Realty

• Jeff Sellers – The Sellers Realty

• Susan Shakespeare – The WestMark Companies Directors presently serving whose terms expire and are eligible to serve as LAR Directors another term:

• Cynthia Arriaga – Exit Realty of Lubbock

• Frank Harmon – The WestMark Companies

• Jacky Howard – Coldwell Banker Rick Canup, REALTORS®

• Larry Jones – Larry Jones Real Estate

• Dan Williams – The WestMark Companies

• Jana Wuthrich – Exit Realty of Lubbock The Nominating Committee will be interviewing prospective officers and directors August 4—6, 2014.

MEMBER NEWSMEMBER NEWSMEMBER NEWSMEMBER NEWS Total Members 872 (Total Members 872 (Total Members 872 (Total Members 872 ( ↑ ↑ ↑ ↑ 9% from projected 2014 membership)9% from projected 2014 membership)9% from projected 2014 membership)9% from projected 2014 membership)

176 Companies 176 Companies 176 Companies 176 Companies │ 696 │ 696 │ 696 │ 696 SalespersonsSalespersonsSalespersonsSalespersons

New REALTORNew REALTORNew REALTORNew REALTOR Members Members Members Members

Designated REALTORSDesignated REALTORSDesignated REALTORSDesignated REALTORS / Companies / Companies / Companies / Companies

Bryan Bednarz Capital Farm Credit

SalespersonsSalespersonsSalespersonsSalespersons

Olga Castillo Minnix Property Management

Ed Roup The WestMark Companies

Dane Swinburn RE/MAX Lubbock

Katy Phillips Exit Realty of Lubbock

Haleigh Simmons Minnix Property Management

Teresa Richardson Exit Realty of Lubbock

Cole Whisenhunt Keller Williams Realty

Kristi Frazier Amy Tapp Realty

Emily Manning RE/MAX Lubbock

Dana Brown The WestMark Companies

Tim Roten Coldwell Banker Rick Canup, REALTORS®

Kevin Geeslin Exit Realty of Lubbock

Paul Pharr Keller Williams Realty

Chris Carpenter Coldwell Banker Rick Canup, REALTORS®

Amanda Pichler Brown Realty

Patty Hartline Linda Sadler & Associates

Bryce Daniel Exit Realty of Lubbock

Mindy O’Brien RE/MAX Lubbock

Darian Padua Egenbacher Real Estate

Clint Parker Egenbacher Real Estate

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Major Shift in Real Estate Online Realtor.com has announced that they plan to pull the plug on internet portals to focus on their own portfolio of online and offline channels. They are the first of the Big Three (Realtor.com, Zillow, and Trulia) to make such a move, effectively ending their agreements with all portals, including MSN, so you’ll no longer see Realtor.com-powered listings on various sites across the Internet. The strategy shift means that the company will be focusing on their own mobile and desktop products to drive traffic. This reinforces the shift in thinking that the best proof in the pudding is if consumers actually visit your native website, rather than counting traffic as people who saw your listings somewhere floating around the web.

A shift in tone and wording Realtor.com operator, Move, Inc. is using phrases like “the most accurate U.S. residential listings,” which saves consumers from the “anguish wasting time with listings that are off the market or priced incorrectly,” and they assert that their marketing is the effectively attracting “transaction-ready consumers” to their services. Sources inside Move tell us that they’ve been in research mode for some time, and Move, Inc. CMO, Barbara O’Connor tells us, “In my role as CMO, I’m responsible for driving brand, audience growth and engagement. This strategic shift in our marketing acquisition strategy has been taking place for well over the past 12 months. My recommendation to shift our strategy was based on key metrics, new channel performance testing, and optimization driven by the results.” We take this to mean that this is not a knee-jerk reaction to any staff changes, and done regardless of former staff potentially knowing their shifting strategy. Also regarding timing, because of the confidentiality of agreements with portals like MSN, Move cannot

comment as to who initiated the severing of ties, so this could either be a bold move by Realtor.com to focus internally, a reaction to a major portal initiating the end of the relationship, or it could always be mutual.

The world is going mobile and the race is on The truth is that consumers are shifting to mobile search through apps, and as for Realtor.com, residential listings viewed on mobile devices overtook the number of views on the desktop site by January 2013, just three years after the launch of their first mobile app. In a statement, the company emphasizes the shift toward mobile, with nearly 60 percent of all Realtor.com residential listings being viewed on mobile apps, citing that mobile consumers spend more time reviewing listings and photos in a single session, “which is a strong indication they are more ready to buy or sell than desktop computer users.” The world is going mobile. Guess who’s winning the mobile race by an insanely wide margin? Zillow. The race isn’t even close, and while there is a behind-the-scenes race between Trulia and Realtor.com for the number two spot, when it comes to mobile, it’s going to take big moves like this to narrow the gap between Zillow that the competitors they’re leaving in the mobile dust.

Membership CancellationsMembership CancellationsMembership CancellationsMembership Cancellations

SalespersonsSalespersonsSalespersonsSalespersons

Chaundrea Rhodes Jerry Kitten Broker

Norv Maples Century 21 John Walton, REALTORS®

Misty McLean RE/MAX Lubbock

Emma Bauersfeld Berkshire Hathaway Home Services

Angela Jones Keller Williams Realty

Trina Black Keller Williams Realty

Jeremy Reed McDougal, REALTORS®

Amy Doty Keller Williams Realty

RRRREALTORSEALTORSEALTORSEALTORS®®®® on the Moveon the Moveon the Moveon the Move

Toy Holland Keller Williams Realty to Brookshire Real Estate Company

Bernell Wilson Keller Williams Realty to Stephens Realty

Jason Steffan The WestMark Companies to Keller Williams Realty

Jonathan Gaona Lubbock Discount Realty to Lubbock Real Estate Group

Anah Castillo Keller Williams Realty to Berkshire Hathaway Home Services

Heather Edwards Exit Realty of Lubbock to Street Real Estate

Miscellaneous ChangesMiscellaneous ChangesMiscellaneous ChangesMiscellaneous Changes

J’Rae Pineda Keller Williams Realty, cancelled MLS membership

Doug Duncan Keller Williams Realty, cancelled MLS membership

Frankie Justice Keller Williams Realty, cancelled MLS membership

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What Realtor.com plans to doWhat Realtor.com plans to doWhat Realtor.com plans to doWhat Realtor.com plans to do Instead of sitting on their hands, Realtor.com will be focused exclusively on their own apps and sites and will “regularly enhance native applications for Android, iPad and iPhone as well as create native mobile applications for new platforms.” They will also invest more time and resources into marketing, particularly with their co-branded venture with the National Association of Realtors. “Integrated marketing across all devices coupled with brand awareness not only builds a larger audience, it also creates brand advocates,” said Barbara O’Connor, chief marketing officer of Move, Inc. “Creating an ongoing emotional connection with our brand’s unique ability to deliver accurate, real-time listings is key to growing and retaining our audience. Our advocates reward us with referrals and keep coming back to Realtor.com® for services and information.”

Will others pull the plug?Will others pull the plug?Will others pull the plug?Will others pull the plug? If the focus is now on marketing and mobile and the value of internet portals is diminishing, will the others follow suit or will they slide into Realtor.com’s old spots in hopes of branding or driving traffic? Zillow wasn’t always number one in traffic, and as the ebb and flow of business goes, they may not always be in that spot, but unless Realtor.com and Trulia make more moves of this nature (instead of assuming the tide will change), the gap is going to widen, maybe even at an accelerated pace.

.REALTOR—New Internet Domain Coming The National Association of REALTORS® (NAR) has developed a new website –www.dotREALTOR.org. Because of the wealth of information about Top Level Domains (TLDs) and their complexities, NAR has created one convenient location where you will find everything you need to know about TLDs and the .REALTOR domain.

dotREALTOR.org Site Highlights When available, announcements for the launch of the .REALTOR domain will be made here. The latest news and information about the .REALTOR domain and the hundreds of other TLDs entering the Internet The benefits of having a .REALTOR domain Business rules for domain eligibility Marketing tools to help brokers and associations promote and discuss the .REALTOR domain with your agents/members How to integrate your .REALTOR domain into your current marketing Background Information ∗ The goal of .REALTOR is to create a name space where home buyers, sellers and investors can go to find the

most credible, trusted real estate information, resources and professional services on-line -- and ensure they are working with a REALTOR®.

∗ Only members of NAR and the Canadian Real Estate Association can call themselves REALTORS® and only REALTORS® will be allowed to use the .REALTOR domain in connection with their name.

∗ NAR will provide the first 500,000 members who register with a FREE .REALTOR domain for one year. Members will also have the option of purchasing additional .REALTOR domains at that time.

∗ After the first free domain, pricing for additional domains will start at $39.95 which includes a FREE profile website from Realtor.com® that allows you to integrate content from your social networks and include all your listings.

∗ Discounts for multiple domains and multiple year purchases will also be available. For more information on pricing visit, visit www.dotREALTOR.org.

∗ In future phases, domains will also be made available to state and local REALTOR® associations; association multiple listing services; affiliated institutes, societies and councils; and other NAR-approved licensees.

Ongoing Communications Communications to the REALTOR® Family is important to keep everyone knowledgeable about efforts to secure

NEW MEMBER ORIENTATION JULY 9

Date: Wed, July 9 Location: LAR Office Time: 8:30 AM—1:00 PM Breakfast and lunch will be provided Please RSVP to hollymcbroom@lubbockrealtors.com All new members must attend New Member Orientation within the first two times it is offered after joining the association. Failure to attend could result in termination of membership.

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the .REALTOR domain, the launch timing and what to do once the domain has been secured. For the most current information, remember to visit www.dotREALTOR.org. We will continue communications via email and notices in the AE INS, Weekly Report, and on social networks. As of January 31, 2014, 78,000 members signed up for the .REALTOR domain pre-registration list. Those members will have 72 hours in advance of the rest of the membership to claim their .REALTOR domain. Emails sent to this group will continue on a monthly basis. The best source for the latest updates and information is www.dotREALTOR.org. Check back often! At this time, we anticipate a launch expected in Fall 2014.

MARKETING FOR YOU, A CHANCE AT $5,000 FOR YOUR CLIENTS! We all know Texas is a great place to call home, but Voice For Texas and TREPAC (Texas Real Estate Political Action Committee) want hear it from the public! That’s what the My Texas Home Video contest is all about. It’s simple—homeowners submit a 30 to 90 second video about why they love their Texas home. The best video wins $5,000 from Voice for Texas—TREPAC, and there are big prizes for second and third place too! Use the My Texas Home video contest as a way to reach out to your clients this July. Not only is this great marketing for you it’s fun and possibly rewarding for them!

TAR Committee Sign-Up...Only 2 Weeks Left Members have until July 7 to volunteer for a Texas Association of REALTORS® committee. Committees meet twice a year—at Winter Meeting in February and at TAR Convention in September. The LAR wants our members to be represented at the state level, so there’s help available to TAR committee members for travel expenses. Go to https://apps.texasrealestate.com/AB/Committees/List.cfm to volunteer. For more information and information on recommendations for committees, contact Cade Fowler, Association Executive at the LAR, 795-9533, cadefowler@lubbockrealtors.com.

Advice for Texas REALTORS®Advice for Texas REALTORS®Advice for Texas REALTORS®Advice for Texas REALTORS® Can an attorney buying a property that I’ve Can an attorney buying a property that I’ve Can an attorney buying a property that I’ve Can an attorney buying a property that I’ve listed get a broker’s fee?listed get a broker’s fee?listed get a broker’s fee?listed get a broker’s fee? Q: Q: Q: Q: A prospective buyer is interested in one of my listings. He told me he is a licensed attorney and will prepare his own offer without using a real estate agent. He also asked to re-ceive a share of my fee in the transaction. He doesn’t have a broker’s license. Can I pay him?

A: A: A: A: Yes. A broker can share a fee with a principal, regardless of the principal’s profession or license status. However, the broker is not required to do so. A concession of part of the broker’s fee to a principal is a business decision made by the broker. Remember, a broker is prohibited from sharing a commission with an attorney who represents a party in a transaction. In that situation, the attorney would need to seek payment from his or her client. Keep in mind that if you decide to share your fee with a princi-pal who you don’t repre-sent, you must obtain consent from your client to do so. Find more legal questions and answers in the Legal FAQs section of tex-asrealestate.com.

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2014

Texas Real Estate Political Action Committee (TREPAC) Investors—Levels Reached as of June 28, 2014

Crystal R ($2,500) Lisa Sellers

Sterling R ($1,000)

Karleen Boyd Rusty DeLoach Ann Kearney

Charles Kearney Tony Lloyd

Capital Club

($500) Brenda Bennett Michael Berg Bob Brandt Lisa Carswell Judy Cato Coby Crump Joy Daniel Kathy Davis Kelley Elliott Greg Luman Nancy Rawls Winn Sikes Pam Titzell

Jana Wuthrich

Lone Star Statesmen ($250) Cynthia Arriaga Brian Aycock Wayne Backus Joe Bellar Jef Conn

Carolyn Crowson Doug Davis

Bill deTournillion Curt Douglass Doug Duncan

Shannon Dunlap Vanessa Dirks

Lone Star Statesmen ($250) - continued

Norma Edwards Brad Elder

Linda Ferguson Cade Fowler Linda Gaither Tim Garrett Kent Gamble Ella Glover Tim Grissom Pat Ham

Fred Hardin Kendra Harris Jay Herrin

Cheryl Isaacs Larry Jones Cindi Lea

Jana Longbotham Kathy Marable Mark McMillan Brett Paxton Emily Ratcliff Jerrod Reep

Ginger Robertson Jack Robnett

Susan Shakespeare Liz Smart

Steve Shanklin Shari Straley John Walton Dan Williams

110 Club ($110) Courtney Allen

Stephanie Allison Tricia Anderson Lindsey Bartley

John Bost Leigh Anne Brozo

June Burks Bobbe Crawford Darelene Fillman

Rick Fowler Beth Garrett Paul Garrett

110 Club ($110) - continued Mary Ann Grafft Steve Gwinn Ken Harlan

Nathan Jordan Nita Kiesling Sharon Lee Larry Leivas Don Lynn Terry Manz

Russell McGuire Velma Medina Chase Marberry Joe L. Murfee, III David Myers Jimmy Noland Rita Paxton Rod Reynolds Jim Rosson

Ruan Samuels Lela Tackitt Gary Tapp

Rachel Townsley Debby Tullis

Donna Westfall Cindy Wilkinson

Jon Willey

Invest online at

www.texasrealtors.com

Year-to-Date Investments $53,812

Year-to-Date Participation 54%

Thank You Investors!Thank You Investors!Thank You Investors!Thank You Investors! As REALTORS® and private property owners, you know the value of protecting the real estate industry. That’s why TREPAC is so important. Not only is it an insurance policy on your career, but it makes you the ultimate advocate for your clients, friends and family. Every legislative session, TREPAC fights to protect the interests of home owners a the local, state, and national level including protecting homeowner’s equity, requiring the licensing of mortgage brokers for consumer protection and stopping additional taxes on the sale of real property. For every TREPAC event you attend, like the upcoming Golf Tournament, Casino Night, Bingo Night, etc. your registration goes towards your overall TREPAC investment. So invest today and not only will you save money by defeating fees that take away from your income, but you also show your clients another reason why using a REALTOR® is so important.

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Special Guest Speaker

Dr. Ted Jones Chief Economist, Stewart Title

“Residential Real Estate & Economic Outlook”

RSVP to hollymcbroom@lubbockrealtors.com by noon, July 7

About Dr. Ted Jones: As Chief Economist for Stewart Title, Dr. Jones addresses the

information needs of internal and external customers, conducts ongoing research and supports economic and financial analysis for Stewart Title and their customers. Previously, he served as the first Director of Investor Relations for Stewart Information Services Corporation (NYSE-STC) for 17 years, ending March 2014. Dr. Jones earned a PhD in Finance with a minor in Statistics and a Master’s Degree in Land Economics and Real Estate from Texas A&M University. He holds a Bachelor of Science degree from Colorado State University. Prior to joining Stewart he served as Chief Economist at Texas A&M University’s Real Estate Center, the nation’s largest publicly funded real estate research group. Before that, he authored and taught the valuation and appraisal section of the Bachelor of Commerce in Valuation and Property Management at Lincoln College, University of Canterbury near Christchurch, New Zealand. Dr. Jones typically gives more than 150 presentations on real estate and the economic outlook each year.

Representative real estate groups addressed include the National Association of REALTORS, National

Association of Home Builders, National Association of Corporate Real Estate Executives, Fannie Mae, the

American Land Title Association, The Housing Round Table, Association of University Real Estate Officials, New

Zealand Property Management Institute, Employees Relocation Council, GMAC Real Estate, Prudential Real

Estate Associates, the Institute of Professionals in Taxation, the American Bar Association, the Association of Real Estate Law Licensing Officials and the National Conference on Unit Value Standards.

Donate to United Way

and You Could Win! For every $25 donation, you will be automatically

entered into a drawing for these great prizes!

Donate $100 and get an extra entry!

1 Tablet (iPad / Microsoft Surface / etc.)

3—$100 cash prizes

2—$250 cash prizes

1—$500 cash prize

The drawing will be held at the Sept 11 Membership luncheon, but you do

not have to be present to win. You can donate by cash, check or on-line at

unitedway-lubbock.org. The LAR will be notified if you donate on-line.

Grant Terms

Grants of any amount up to 5% of the Loan Amount

Buyer does not repay grant; no liens are filed

Buyer is not required to contribute any minimum down payment from their own funds

Grant funds may be:

o applied against Buyer’s closing costs, prepaid items and down payment

o used to reimburse Buyer for any prepaid amounts (e.g. earnest money, etc.) or to reduce

the loan principal, but cash back is not allowed

Eligible Properties

New or existing residential properties located in Lubbock and surrounding areas

Maximum Sales Price – $250,200

Buyer Eligibility

No minimum credit score

No maximum debt-to-income ratio

No first-time homebuyer requirement

“Qualifying” income may not exceed $75,000/year (Actual income may be higher than $75,000,

but lender may not use more than $75,000 of Buyers’ income to qualify them for the loan.)

Non-purchasing spouses, non-occupying co-borrowers and co-signers are permitted

Buyers must occupy the property as their principal residence within 60 days of loan closing

Eligible Loan Products/Terms

FHA, VA, USDA-RD, Conventional

Fixed rate; fully amortizing; any maturity (not to exceed 30 years)

Other

No program fees charged to Buyer or Seller

Homebuyer education not required, but recommended

* agency and/or investor guidelines may be more restrictive than Welcome Home guidelines

Call Lubbock Housing Finance Corporation at

806-745-9559 for Additional Information or

Contact a Participating Lender

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