september 7-11 - el paso realtor · al jurado any casa realty. 2012 ... will now review the...

2 • ELPASOREALTOR.COM EL PASO REALTOR MAGAZINE | JULY 2012

Visit

TexasRealtorsConference.com for registration information, a schedule of events, and much more.

The four-and-a-half day event in downtown San Antonio includes sev-

eral sessions just for Texas REALTORS® interested in international real

estate such as an International Forum, International Committee

meeting, and TAR Commercial/International Reception.

September 7-11

Registration is now open for the 2012 Texas REALTORS® Conference, in San Antonio

JULY 2012 | EL PASO REALTOR MAGAZINE ELPASOREALTOR.COM • 1

Here we are at the midway point of 2012. How has your 1st half been? Have you had a productive

year so far? Are you looking to have a fantastic 2nd half of 2012?

To help you have a fabulous completion of 2012, I suggest that you look to the Member Benefits

of being a member of GEPAR, TAR & NAR. As well as, when you are in need of a title company, mortgage company, insurance agency, home warranty company, builder, attorney, advertising venue & shopping, please take a look at the GEPAR Affiliates list. These Affiliates have made their commitment to support you & your organization. These Affiliates deserve your business and your loyalty. If your favorite affiliate is not on this list, tell them they need to be a vital part of the Greater El Paso Association of REALTORS®. I promise you, they will thank you for suggesting it because their business will grow.

Success to all!Jennifer Stroh

2012 PRESIDENT

IT’S A GREAT TIME TO BE A REALTOR®

+ PRESIDENTS REMARKS J E N N I F E R S T R O H

G R E AT E R E L PA S O

A S S O C I AT I O N O F R E A LT O R S

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ATTENTION!Important notices to all REALTORS® All REALTORS® must take ethics training that complies with specific learning objectives and criteria prior to Decem-ber 31, 2012. NAR strongly encourages members to comply with the requirement in advance of the deadline. Taking steps now to take the training will ease any administrative bottlenecks you may have in reporting and administering your membership compliance at the end of the year.

Important notices to all Designated Brokers and/or Managers who super-vise at least one REALTOR® licensee for 6 months or more during the term of your license.If you fit in one of those categories and your active license expires after August 31, 2012, the Texas Real Estate Com-mission requires that you take a NEW 6 hour Broker-Responsibility course in order to renew your license.


2012 EXECUTIVE COMMITTEE

President, Jennifer StrohCentury 21 The Edge

President-Elect, Kenny GrossERA Priority One

Secretary/Treasurer, Andrew HaggertyCentury 21 Haggerty

Immediate Past President, Linda BastrawCheryl Thomas Realty

Chief Executive Officer, Sharron K. Ramirez DIRECTORS 2012 Mickey Molina Century 21 The Pass Patti Olivas Dan Olivas & Assoc. Jim Howard RE/MAX Real Estate Group Timothy Cantrell One Realty El Paso Art Moreno The Art of Realty

DIRECTORS 2012-2013 Susan Craig Craig Realty & E-Z Apt. Finders Caroline Camfield Golden Real Estate Rick Snow First Choice Realty Angel Ochoa Success Realty Steve Carvalho RE/MAX Real Estate Group NAR DIRECTORMichael Bray EXIT West Realty TAR REGIONAL VICE PRESIDENT R. Scott Kesner Century 21 The Edge

TAR DIRECTORS Doug Hamilton Hamilton Associates Linda Bastraw Cheryl Thomas Realty

TAR NOMINATING COMMITTEE Patti Olivas Dan Olivas & Associates

TAR TREPAC TRUSTEEElizabeth Leal Future Co. Realtors TAR POLITICAL INVOLVEMENT COMMITTEEAl Jurado Any Casa Realty

2012 COMMITTEES

Budget and Finance Andrew HaggertyEducation Danii SedilloEqual Opportunity Cathy Few Governmental Affairs Elizabeth LealREALTOR®/Builder Cynthia MorrisTREPAC Caroline Camfield

6400 GATEWAY EAST BLVDEL PASO, TX, 79905

(915) 779-3521GEPAR QUARTERLY BILLING SCHEDULE2nd QUARTER BILLING

05/01/2012 - Suspension of office if members are past due w/active license.06/01/2012 - Termination of office if members are past due w/active license.

3rd QUARTER BILLING

05/15/2012 - Invoices posted – email to agents invoices ready to view & pay online05/31/2012 - 3rd quarter payments due07/02/2012 - Suspension and $50.00 reconnect fee08/01/2012 - Suspension of office if members are past due w/active license.09/03/2012 - Termination of office if members are past due w/active license.

4TH QUARTER BILLING

8/15/2012 - Invoices posted – email to agents invoices ready to view & pay online8/31/2012 - 4th quarter payments due10/01/2012 - Suspension and $50.00 reconnect fee11/01/2012 - Suspension of office if members are past due w/active license.12/03/2012 - Termination of office if members are past due w/active license.

2013 YEARLY DUES WILL BE BILLED THE 1ST WEEK OF

NOVEMBER, 2012 AND ARE DUE DECEMBER 31, 2012

IMPORTANT REMINDERS

E L PA S O R E A LT O R . C O M

Please watch for the online notification of the EL PASO REALTOR® each month and for a new weekly update bulletin.


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SUPREME COURT UPHOLDS THE CONSTITUTIONALITY OF THE HEALTH REFORM LAWBY MARCIA SALKIN

On Thursday, June 28th, the Supreme Court issued its decision on the constitutionality of the Affordable Care Act (ACA). In a 5-4 decision, the Court upheld the constitutionality of the health reform law. While the Court ruled that the health reform act’s individual mandate provision requiring all Americans to have health coverage could not be supported under the Constitution’s Commerce Clause, the majority held that the tax imposed on those who don’t buy insur-ance is constitutional under the taxing powers granted Congress.

The Court also upheld provisions of the law which expanded eligibil-ity for Medicaid to a larger number of low income individuals, but specified that the law’s provision denying federal Medicaid funding to states that don’t expand eligibility is not acceptable. Chief Justice Roberts wrote the majority decision and was joined by Justices Gins-berg, Breyer, Sotomayor, and Kagan in upholding the Act.

NAR, along with other organizations with an interest in the outcome of the health care debate, will now review the decision in more detail and will provide more information once the review is completed.

Since the measure was upheld, the law’s popular underwriting and rating reforms already in effect, i.e. the ability of young adults to stay on their parents’ policies, reduction in Medicare Part D copays, etc., as well as those going into effect in 2014, such as the ban on denying coverage on the basis of a preexisting condition or setting insurance premiums on the basis of health status or sex, will remain intact.

For more information on how specifics of the Affordable Care Act as it was originally ap-proved, please consult NAR’s FAQ on the reform law visit www.realtor.org.

BIG WIN FOR HOUSING, FLOOD INSURANCE EXTENDED

DAILY REAL ESTATE NEWSMONDAY, JULY 09, 2012

President Obama signed into law Friday a five-year reauthorization of the National Flood Insurance Program, which will help keep flood insurance more accessible and affordable in protecting property owners in more than 21,000 communities where flood insurance is required for mortgages. The program now will be extended through Sept. 30, 2017.

The extension will “end the uncertainty of NFIP stopgap measures and shutdowns and will help bring stability to real estate markets,” says Moe Veissi, president of the National Association REALTORS®. NAR has advocated for the long-term reauthorization of NFIP for years.

According to NAR, more than 5.6 million property owners rely on the program for affordable flood insurance.

“Without the NFIP, families and business owners across the U.S. would go without essential flood protection, since the private market cannot guarantee the availability or affordability of flood insurance,” according to an NAR press release. “The NFIP also saves taxpayers money, since it serves as an alternative to expensive federally funded disaster relief for flood victims.”

Since September 2008, Congress has only been approving short-term extensions of NFIP, with more than 17 extensions of the program in that time. What’s more, Congress has let the program expire two times since September 2008.

When lawmakers let the program expire, about 1,300 real estate transactions were delayed or canceled each day, according to NAR research. In June 2010, for example, more than 40,000 homes sales alone were delayed or canceled while the program lapsed. “Available and affordable flood insurance is essential to properly functioning real estate markets, and the certainty of a five-year reau-thorization will allow long-term real estate investments that are vital to the U.S. economic recovery,” Veissi says.

The reauthorization, known as the Biggert-Waters Flood Insurance Reform Act of 2012, was approved by Congress as part of a transpor-tation funding bill last week and signed into law by President Obama on Friday.

Source: National Association of REALTORS®



+ BY THE NUMBERS M AY R E P O R T

NATIONAL ASSOCIATION OF REALTORS® Real Estate Trend IndicatorBoard: Greater El Paso Association of REALTORS® State: TexasDate of Report: 06/15/12

NAR SINGLE FAMILY RESIDENTIAL HOME SALES REPORT


> ASSOCIATION EVENTS

Board of Directors Regional MeetingOn June 29, 2012 the Greater El Paso Association of REALTORS® Board of Directors had a Regional Meeting with the Texas Association of REALTORS® Leadership. Joe Stewart, Chairman of the Texas Association of REALTORS®, Kaki Lybbert, TREPAC Chairman, and Travis Kessler, President/ CEO of TAR gave an update on state issues that affect the REALTOR® community.

8 • ELPASOREALTOR.COM EL PASO REALTOR MAGAZINE | JULY 2012 8 • ELPASOREALTOR.COM EL PASO REALTOR MAGAZINE | JULY 2012

HOUSING AFFORDABILITY INDICES REACH RECORDS IN FIRST QUARTERWASHINGTON (MAY 15, 2012)

Housing affordability conditions for all buyers reached a milestone in the first quarter, according to the National Association of Realtors®.

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NAR’s composite quarterly Housing Affordabil-ity Index* rose to a record high of 205.9 in first quarter, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. This is the first time the quarterly index broke the 200 mark; recordkeeping began in 1970.

NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said market condi-tions are optimal for home buyers. “For those with good credit, we’ve never seen better housing afford-ability conditions or market opportunities than we see at present,” he said. “Although home prices are stabilizing and sales are rising, some buyers still have to jump through a lot of hoops to convince a lender that they are creditworthy, even for a mort-gage that would be well within their means. This is especially true for self-employed buyers.”

Veissi noted home sales would be much higher if lending standards would return to normal.

The index shows the median income family, earning just under $61,000, could afford a home costing $325,500 in the first quarter, which is more than double the national median existing single-family home price of $158,100. The median monthly mortgage principal and interest payment for a median-priced home would take only 13.5 percent of gross income.

A companion index measuring the ability of first-time buyers to purchase a home also set a record, with the first-time buyer index reaching 135.8 in the first quarter.

Assumptions for the first-time buyer index include a lower income, at 65 percent of median family income, a starter home costing 85 percent of the median price, and a downpayment of 10 percent.


INFORMATION ABOUT NAR IS AVAILABLE AT

WWW.REALTOR.ORG.

This index means the typical entry-level buyer could afford a home costing $182,500, which is well above the overall median price.

“It’s never been easy to buy a first home because of the cash required for downpayment and closing costs, but condi-tions for first-time buyers who are able to get a mortgage have never been better,” Veissi explained.

Most first-time buyers choose a loan with a lower downpay-ment, often an FHA-insured loan with 3.5 percent down, and some use the VA program with no downpayment.

Both home prices and mortgage interest rates are expected to edge up modestly as the year progresses, but housing affordability will remain very favorable with the median-income household well positioned to afford a median-priced home. For all of 2012 the index is projected to set an annual record, averaging 191 for the year.

The National Association of Realtors®, “The Voice for Real

Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries

*A composite index of 100 is defined as the point where a median-income family household has exactly enough income to qualify for the purchase of a median-priced exist-ing single-family home, assuming a 20 percent downpay-ment and 25 percent of gross income devoted to mortgage principal and interest payments.

News releases are posted in the website’s “news and commentary” tab. Statistical data in this re-lease, as well as other tables and surveys, are posted in the “research and statistics” tab of www.realtor.org.



2 8:00 am – TRLP Module 4 12:30 pm – Toastmasters

3 1:30 pm – Education Committee

4 Office Closed

5 8:30 am- RCA Weekly Meeting 6 8:00 am – Orientation 9:00 am - Century 21 - The Edge Mtng.

9 9:00 am – Strategic Plan Review 12:30 pm – Toastmasters

10 8:30 am – Dotloop Class

11 8:00 am – Orientation 9:00 am - Century 21 - The Edge Mtng. 9:00 am - Success Realty Meeting

12 8:30 am- RCA Weekly Meeting 11:30 am – Builder University 11:30 am- TREPAC Phone-a-thon 1:30 pm – TREPAC Meeting

16 12:30 pm – Toastmasters

17 8:00 am – MCE

18 8:00 am – MCE 9:00 am - Century 21 - The Edge Mtng. 1:30 pm – Budget and Finance Meeting 2:00 pm - Executive Committee Mtng.

19 8:30 am- RCA Weekly Meeting 9:00 am - GEPAR Nominating Committee Meeting


25 8:30 am- MLS Board of Directors 9:00 am - Century 21 - The Edge Mtng.

26 8:30 am- RCA Weekly Meeting 11:30 am- Pointe 2 Class

27 8:30 am – Board of Directors


1 8:00 am – Orientation 9:00 am - Century 21 - The Edge Meeting

2 8:30 am- RCA Weekly Meeting 1:30 pm – Governmental Affairs Meeting 6:00 pm – TREPAC Bandstand!!!

6 8:00 am – TRLP Module 6 9:00 am – Understanding Leasing Agreements 12:30 pm – Toastmasters

7 11:30 am – Education Luncheon 1:30 pm – Education Committee 10:30 am - MLS Nominating Committee Meeting

8 9:00 am - Century 21 - The Edge Meeting 9:00 am - Success Realty Meeting 2:00 pm – Equal Opportunity Meeting

9 8:30 am- RCA Weekly Meeting

1:30 pm – TREPAC Meeting

10 11:30 am – Builder University


15 9:00 am - Success Realty Meeting


20 8:30 am - Online Voting Begins 12:30 pm – Toastmasters

21 8:00 am – MCE

22 8:00 am – MCE 9:00 am - Century 21 - The Edge Meeting 1:30 pm – Budget and Finance Meeting 2:00 pm - Executive Committee Meeting 27 8:00 am – TRLP Module 7 12:30 pm – Toastmasters

28 8:00 am – Income Property Analysis

29 8:00 am – After Tax Income Property Analysis 8:30 am- MLS Board of Directors 9:00 am - Century 21 - The Edge Meeting


31 8:30 am – Board of Directors

AUGUST 2012

JULY 2012

MARK YOUR CALENDAR

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september 7-11 - el paso realtor · al jurado any casa realty. 2012 ... will now review the...

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