Monday, August 28, 2006
This is the spot where people can post upcoming events and notes of interest for parties affiliated with the Orange Belt Board of Realtors in Porterville, California. For postings please Email notes and comments to OBBR@pacbell.net .
CALENDAR LOCATED BELOW.....
OBBR Website
What's New? @CAR Legal.
C A R REAL ESTATE FORECAST 2007
C A R DIRECTORS Meeting Summary October 2006 Long Beach
11/16/06 Lockboxes
From: Ann Owen (ID: owena)
We are in the process of getting the scheduling ready for training on Monday, Dec. 4th. Please keep this day open as this will be your one time training session. We will be on the system at that time and ready for you to use your lock boxes and cards. All cards, lockboxes and card readers must be paid for no later than when you pick them up on the 4th of December. Mary has send out your dues bill for December usage and your key of $15.36. From now on you will be bill $10. per month and it will be included in your MLS fees statement.
A STAR IS BORN - OBBR INSTALLATION
From: Debbie Branson
CAN YOU BELIEVE IT'S THAT TIME AGAIN!!!!Installation and Awards Dinner
Friday, December 1st at the Lodge
6:00pm Cocktails
7:00pm Dinner - Filet Mignon and Shrimp
Cost: $45.00 per person
2006 President, Ann Owen
We will be installing our 2007 President, Javier Martinez!!!
Surprise Local Superstar Entertainment!!
Awards - Silent Auction - Live Auction - Raffle
Please bring your donations to the Board Office, Gift Certificates, Baskets, Cash, etc. ALL PROCEEDS GO TO CAN TREE AND COMMUNITY BENEFIT FUND
For Tickets contact Title Company Rep
NONPROFIT CONSUMER GROUP FILES FTC COMPLAINT AGAINST ZILLOW.COM 11/1/06
The National Community Reinvestment Coalition (NCRC), a national nonprofit group that promotes equal access to credit and capital for underserved communities, last week filed a complaint with the Federal Trade Commission (FTC) alleging Zillow.com knowingly provides consumers, real estate professionals, and financial service providers with inaccurate home valuations. Zillow.com uses an automated home valuation model to provide "zestimates" for more than 67 million homes across the nation.
The complaint charges that Zillow.com has a less than 30 percent accuracy rate when offering valuations to the public, and these alleged discrepancies in home valuations are causing injury to consumers who are buying, selling, or refinancing their home.
Fast Facts
Calif. median home price - September 06: $553,050 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region September 06:
Santa Barbara So. Coast $1,025,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region September 06:
High Desert $329,040 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 06:
23 percent (Source: C.A.R.)
Mortgage rates - week ending 10/19:
30-yr. fixed: 6.36%; Fees/points: 0.5%
15-yr. fixed: 6.06%; Fees/points: 0.5%
1-yr. adjustable: 5.57%; Fees/points: 0.8%
(Source: Freddie Mac)
NEW LAW: AB 1169 reinstates the 60-day notice to terminate a residential tenancy* Effective Jan 1, 2007 an owner of a residential dwelling must again give at least 60 days' notice prior to termination of a tenancy or 30 days' notice prior to termination if the tenant has resided in the dwelling for less than one year, or if other enumerated circumstances are satisfied.
FAST FACTS
Calif. median home price - August 06: $576,360 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region August 06:
Santa Barbara So. Coast $1,190,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region August 06:
High Desert $332,900 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 06:
23 percent (Source: C.A.R.)
Mortgage rates - week ending 9/28:
30-yr. fixed: 6.31%; Fees/points: 0.4%
15-yr. fixed: 5.98%; Fees/points: 0.4%
1-yr. adjustable: 5.47%; Fees/points: 0.6%
(Source: Freddie Mac)
C.A.R. LICENSING BILL SIGNED INTO LAW
C.A.R.'s sponsored bill, AB 2429 (Negrete McLeod), which eliminates the "conditional" real estate license, has been signed by the Governor. Existing law provides two ways to qualify for a real estate salesperson license. The first option requires an applicant to take three real estate classes and then pass the salesperson exam to receive a four-year license. In the second option, an applicant takes only one class and then takes the exam. Should the applicant pass, they obtain a "conditional" license and may finish the rest of the required course work during the next 18 months of licensure while they engage in real estate licensed activity. AB 2429 will require all salesperson applicants, after September 30, 2007, to complete all three of their pre-license courses prior to taking the license examination. The Department of Real Estate reports that 85 percent of new licensees came in under the conditional license option. AB 2429 will increase the foundational knowledge of sales licensees entering the profession.
Fast Facts 9/14/06
Calif. median home price - July 06: $567,360 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region July 06:
Santa Barbara So. Coast $1,075,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region July 06:
High Desert $333,330 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 06:
23 percent (Source: C.A.R.)
Mortgage rates - week ending 9/13:
30-yr. fixed: 6.47%; Fees/points: 0.4%
15-yr. fixed: 6.16%; Fees/points: 0.4%
1-yr. adjustable: 5.63%; Fees/points: 0.7%
(Source: Freddie Mac)
9/14/06
NAR ANTICIPATES NATIONAL HOME SALES TO DECLINE 7.6 PERCENT THIS YEAR
Despite rising inventory levels and home price imbalances in some areas of the county, national existing-home sales are anticipated to reach the third highest level on record in 2006, according to NAR's recently revised forecast. For the year, existing-home sales in the U.S. are expected to fall 7.6 percent to 6.54 million. New-home sales are forecasted at 1.08 million for the year, down 16.1 percent from 2005 and the fourth highest level on record.
Forecast 9/4/06
The Federal Reserve's forecast is that growth will slow without stalling and inflation will ease, a scenario that could let the Fed keep interest rates steady through year-end.
The average rate for 30-year mortgages fell for the sixth consecutive week, Freddie Mac reported on August 31.
Fast Facts 8/31/06
Calif. median home price - July 06: $567,360 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region July 06:Santa Barbara So. Coast $1,075,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region July 06:High Desert $333,330 (Source: C.A.R.)
Mortgage rates - week ending 8/24:30-yr. fixed: 6.48%; Fees/points: 0.4%15-yr. fixed: 6.18%; Fees/points: 0.4%1-yr. adjustable: 5.60%; Fees/points: 0.7%(Source: Freddie Mac
-------------------------------------------
C.A.R. CONSIDERS NOVEMBER BALLOT PROPOSITIONS C.A.R. has taken a position on eight measures, which have qualified for the November statewide ballot:
more info http://www.car.org/index.php?id=MzY0ODA=
Dec 1 -Porterville Chamber of Commerce First Friday Coffee / Breakfast, 7:00 am - 8:30 am, Grand Ave Methodist Church, W. Grand / N.Indiana, all OBBR members are also CC members and welcome to attend !
Dec 1 -Installation of Officers / Awards / Community Benefit Dinner, @The Lodge.
Nov 30 -Board of Directors Meeting
Nov 23 -Thanksgiving-Board Office CLOSED
Nov 15 -OBBR LUNCHEN MEETING
Nov 9 -MLS Committee meeting
Nov 3 -Porterville Chamber of Commerce First Friday Coffee / Breakfast, 7:00 am - 8:30 am, Grand Ave Methodist Church, W. Grand / N.Indiana, all OBBR members are also CC members and welcome to attend !
Oct 31 - Nominations due for 2006 AWARDS: "Realtor of the Year, Affiliate of the Year, Jack Letsinger Award.
Oct 29 -Ballots Due for voting on 2007 OBBR BUDGET
Oct 28-"Paint the Town-Make a Difference Day"
OCT 25 AFFILIATES APPRECIATION LUNCHEN
WHERE: THE LODGE
WHEN: WEDNESDAY, OCTOBER 25TH
TIME: 12:00
COST: $11.00 (AFFILIATES LUNCH PROVIDED)
MENU: CHICKEN CORDON BLEU, PILAFF, VEGETABLE, SALAD AND DESSERT
LET OBBR OFFICE KNOW WHAT YOU ARE DONATING FOR RAFFLE GIFTS FOR OUR AFFILIATES OR IF YOU WOULD LIKE TO SPONSOR LUNCHES. RSVP ASAP. THANKS DEBBIE
Oct 7- Porterville Chamber "First Friday Coffee/ Breakfast", 7 am, Grand Ave Methodist Church (Free to OBBR Members)
Oct 6-OBBR Golf Tournament, River Island
FUN! FUN! FUN! Get your teams together!!
When: Friday, October 6
Where: River Island Country Club
Shot Gun at 12:00
Lunch: 11:30 - BBQ Tri-Tip
Cost: $65.00 Per Person (Includes golf, cart and lunch)
Prizes will be awarded to: 1st, 2nd & 3rd place winners.
Tee Sponsors: $75.00 (Must be in by Sept 15th.
If you have more questions please contact Courtney @ 559-789-9610
Come out and have a great day of fun, food, prizes and raise money for our scholarship fund.
Sept 28– OBBR Executive Committee Meeting 10:00am
Sept 26- MLS program from Porterville Police on "Make a Difference Day"
Sept 22- OBBR Picnic, Nuckols Ranch
adults: $15 Kids $5
tickets MUST BE purchased in advance by Sept 20
4:00 pm dinner at 6:00 pm
Fun for the whole family
see Title Reps for tickets or call OBBR 781-3844
Sept 20- Chamber of Commerce "Business Showcase and Taste of Porterville" trade show, Veteran's Memorial Building, 1900 W. Olive, 5-7:30 p m., $3 members $5 non-member
Sept 20- OBBR LUNCH MEETING, noon,The Lodge @ Main St. and Morton, $11.00, tri-tip, sponsored by PARAGON REAL ESTATE, speaker: David M. Parker of CAR Legal Affairs Forum and member of CAR Defense Referral Panel, topic:"Risk Management for Residential Sales", RSVP-BY noon 9-19-06, FAX- 781-4522, REQUIRED FOR MEAL. Offices may also be charged-back for meal if you reserve and fail to attend and we have to pay for!
Sept 19- MLS program: Charles Ludlam from HUD Santa Anna Service Center on new limits, loans. contact #714-796-1200, Ext 3611. FAX 877-796-5506
Sept 14- MLS Committee meeting 10 am
Sept 10– 16 NAR Realtor Safety Week
Sept 12- MLS Meeting program "REALTOR SAFETY"
Sept 7- New Member Orientation
Sept 5- MLS meeting program "MEMORIAL TRIBUTE TO 9-11"
Sept 4- Labor Day, office closed
Sept 1- Porterville Chamber of Commerce First Friday Coffee, 7 am Grand Ave Methodist Church
SEPTEMBER IS REALTOR SAFETY MONTH
Aug 31- Deadline to vote on Lockbox Issue
Aug 31- Success Dam Remediation workshop, 6 pm at city library
Aug 29- City General Plan Update final workshop 6 pm at Porterville Library, 782-7460
Aug 29- MLS mtg, Marty Lalanne,CPA will speak on tax tips.
A BIG thank you to all who have taken time to vote on the lockbox issue. The deadline for response to the board office is August 31st. If you are an OBBR voting member and have not received your letter in the mail, please contact the office and we will fax you the letter so you will have an opportunity to vote. Again thank you to all who have responded.
This is the spot where people can post upcoming events and notes of interest for parties affiliated with the Orange Belt Board of Realtors in Porterville, California. For postings please Email notes and comments to OBBR@pacbell.net . (August 1, 2006)
CALENDAR LOCATED BELOW.....
OBBR Website
What's New? @CAR Legal.
C A R REAL ESTATE FORECAST 2007
C A R DIRECTORS Meeting Summary October 2006 Long Beach
11/16/06 Lockboxes
From: Ann Owen (ID: owena)
We are in the process of getting the scheduling ready for training on Monday, Dec. 4th. Please keep this day open as this will be your one time training session. We will be on the system at that time and ready for you to use your lock boxes and cards. All cards, lockboxes and card readers must be paid for no later than when you pick them up on the 4th of December. Mary has send out your dues bill for December usage and your key of $15.36. From now on you will be bill $10. per month and it will be included in your MLS fees statement.
A STAR IS BORN - OBBR INSTALLATION
From: Debbie Branson
CAN YOU BELIEVE IT'S THAT TIME AGAIN!!!!Installation and Awards Dinner
Friday, December 1st at the Lodge
6:00pm Cocktails
7:00pm Dinner - Filet Mignon and Shrimp
Cost: $45.00 per person
2006 President, Ann Owen
We will be installing our 2007 President, Javier Martinez!!!
Surprise Local Superstar Entertainment!!
Awards - Silent Auction - Live Auction - Raffle
Please bring your donations to the Board Office, Gift Certificates, Baskets, Cash, etc. ALL PROCEEDS GO TO CAN TREE AND COMMUNITY BENEFIT FUND
For Tickets contact Title Company Rep
NONPROFIT CONSUMER GROUP FILES FTC COMPLAINT AGAINST ZILLOW.COM 11/1/06
The National Community Reinvestment Coalition (NCRC), a national nonprofit group that promotes equal access to credit and capital for underserved communities, last week filed a complaint with the Federal Trade Commission (FTC) alleging Zillow.com knowingly provides consumers, real estate professionals, and financial service providers with inaccurate home valuations. Zillow.com uses an automated home valuation model to provide "zestimates" for more than 67 million homes across the nation.
The complaint charges that Zillow.com has a less than 30 percent accuracy rate when offering valuations to the public, and these alleged discrepancies in home valuations are causing injury to consumers who are buying, selling, or refinancing their home.
Fast Facts
Calif. median home price - September 06: $553,050 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region September 06:
Santa Barbara So. Coast $1,025,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region September 06:
High Desert $329,040 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 06:
23 percent (Source: C.A.R.)
Mortgage rates - week ending 10/19:
30-yr. fixed: 6.36%; Fees/points: 0.5%
15-yr. fixed: 6.06%; Fees/points: 0.5%
1-yr. adjustable: 5.57%; Fees/points: 0.8%
(Source: Freddie Mac)
NEW LAW: AB 1169 reinstates the 60-day notice to terminate a residential tenancy* Effective Jan 1, 2007 an owner of a residential dwelling must again give at least 60 days' notice prior to termination of a tenancy or 30 days' notice prior to termination if the tenant has resided in the dwelling for less than one year, or if other enumerated circumstances are satisfied.
FAST FACTS
Calif. median home price - August 06: $576,360 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region August 06:
Santa Barbara So. Coast $1,190,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region August 06:
High Desert $332,900 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 06:
23 percent (Source: C.A.R.)
Mortgage rates - week ending 9/28:
30-yr. fixed: 6.31%; Fees/points: 0.4%
15-yr. fixed: 5.98%; Fees/points: 0.4%
1-yr. adjustable: 5.47%; Fees/points: 0.6%
(Source: Freddie Mac)
C.A.R. LICENSING BILL SIGNED INTO LAW
C.A.R.'s sponsored bill, AB 2429 (Negrete McLeod), which eliminates the "conditional" real estate license, has been signed by the Governor. Existing law provides two ways to qualify for a real estate salesperson license. The first option requires an applicant to take three real estate classes and then pass the salesperson exam to receive a four-year license. In the second option, an applicant takes only one class and then takes the exam. Should the applicant pass, they obtain a "conditional" license and may finish the rest of the required course work during the next 18 months of licensure while they engage in real estate licensed activity. AB 2429 will require all salesperson applicants, after September 30, 2007, to complete all three of their pre-license courses prior to taking the license examination. The Department of Real Estate reports that 85 percent of new licensees came in under the conditional license option. AB 2429 will increase the foundational knowledge of sales licensees entering the profession.
Fast Facts 9/14/06
Calif. median home price - July 06: $567,360 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region July 06:
Santa Barbara So. Coast $1,075,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region July 06:
High Desert $333,330 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Second Quarter 06:
23 percent (Source: C.A.R.)
Mortgage rates - week ending 9/13:
30-yr. fixed: 6.47%; Fees/points: 0.4%
15-yr. fixed: 6.16%; Fees/points: 0.4%
1-yr. adjustable: 5.63%; Fees/points: 0.7%
(Source: Freddie Mac)
9/14/06
NAR ANTICIPATES NATIONAL HOME SALES TO DECLINE 7.6 PERCENT THIS YEAR
Despite rising inventory levels and home price imbalances in some areas of the county, national existing-home sales are anticipated to reach the third highest level on record in 2006, according to NAR's recently revised forecast. For the year, existing-home sales in the U.S. are expected to fall 7.6 percent to 6.54 million. New-home sales are forecasted at 1.08 million for the year, down 16.1 percent from 2005 and the fourth highest level on record.
Forecast 9/4/06
The Federal Reserve's forecast is that growth will slow without stalling and inflation will ease, a scenario that could let the Fed keep interest rates steady through year-end.
The average rate for 30-year mortgages fell for the sixth consecutive week, Freddie Mac reported on August 31.
Fast Facts 8/31/06
Calif. median home price - July 06: $567,360 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region July 06:Santa Barbara So. Coast $1,075,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region July 06:High Desert $333,330 (Source: C.A.R.)
Mortgage rates - week ending 8/24:30-yr. fixed: 6.48%; Fees/points: 0.4%15-yr. fixed: 6.18%; Fees/points: 0.4%1-yr. adjustable: 5.60%; Fees/points: 0.7%(Source: Freddie Mac
-------------------------------------------
C.A.R. CONSIDERS NOVEMBER BALLOT PROPOSITIONS C.A.R. has taken a position on eight measures, which have qualified for the November statewide ballot:
more info http://www.car.org/index.php?id=MzY0ODA=
Dec 1 -Porterville Chamber of Commerce First Friday Coffee / Breakfast, 7:00 am - 8:30 am, Grand Ave Methodist Church, W. Grand / N.Indiana, all OBBR members are also CC members and welcome to attend !
Dec 1 -Installation of Officers / Awards / Community Benefit Dinner, @The Lodge.
Nov 30 -Board of Directors Meeting
Nov 23 -Thanksgiving-Board Office CLOSED
Nov 15 -OBBR LUNCHEN MEETING
Nov 9 -MLS Committee meeting
Nov 3 -Porterville Chamber of Commerce First Friday Coffee / Breakfast, 7:00 am - 8:30 am, Grand Ave Methodist Church, W. Grand / N.Indiana, all OBBR members are also CC members and welcome to attend !
Oct 31 - Nominations due for 2006 AWARDS: "Realtor of the Year, Affiliate of the Year, Jack Letsinger Award.
Oct 29 -Ballots Due for voting on 2007 OBBR BUDGET
Oct 28-"Paint the Town-Make a Difference Day"
OCT 25 AFFILIATES APPRECIATION LUNCHEN
WHERE: THE LODGE
WHEN: WEDNESDAY, OCTOBER 25TH
TIME: 12:00
COST: $11.00 (AFFILIATES LUNCH PROVIDED)
MENU: CHICKEN CORDON BLEU, PILAFF, VEGETABLE, SALAD AND DESSERT
LET OBBR OFFICE KNOW WHAT YOU ARE DONATING FOR RAFFLE GIFTS FOR OUR AFFILIATES OR IF YOU WOULD LIKE TO SPONSOR LUNCHES. RSVP ASAP. THANKS DEBBIE
Oct 7- Porterville Chamber "First Friday Coffee/ Breakfast", 7 am, Grand Ave Methodist Church (Free to OBBR Members)
Oct 6-OBBR Golf Tournament, River Island
FUN! FUN! FUN! Get your teams together!!
When: Friday, October 6
Where: River Island Country Club
Shot Gun at 12:00
Lunch: 11:30 - BBQ Tri-Tip
Cost: $65.00 Per Person (Includes golf, cart and lunch)
Prizes will be awarded to: 1st, 2nd & 3rd place winners.
Tee Sponsors: $75.00 (Must be in by Sept 15th.
If you have more questions please contact Courtney @ 559-789-9610
Come out and have a great day of fun, food, prizes and raise money for our scholarship fund.
Sept 28– OBBR Executive Committee Meeting 10:00am
Sept 26- MLS program from Porterville Police on "Make a Difference Day"
Sept 22- OBBR Picnic, Nuckols Ranch
adults: $15 Kids $5
tickets MUST BE purchased in advance by Sept 20
4:00 pm dinner at 6:00 pm
Fun for the whole family
see Title Reps for tickets or call OBBR 781-3844
Sept 20- Chamber of Commerce "Business Showcase and Taste of Porterville" trade show, Veteran's Memorial Building, 1900 W. Olive, 5-7:30 p m., $3 members $5 non-member
Sept 20- OBBR LUNCH MEETING, noon,The Lodge @ Main St. and Morton, $11.00, tri-tip, sponsored by PARAGON REAL ESTATE, speaker: David M. Parker of CAR Legal Affairs Forum and member of CAR Defense Referral Panel, topic:"Risk Management for Residential Sales", RSVP-BY noon 9-19-06, FAX- 781-4522, REQUIRED FOR MEAL. Offices may also be charged-back for meal if you reserve and fail to attend and we have to pay for!
Sept 19- MLS program: Charles Ludlam from HUD Santa Anna Service Center on new limits, loans. contact #714-796-1200, Ext 3611. FAX 877-796-5506
Sept 14- MLS Committee meeting 10 am
Sept 10– 16 NAR Realtor Safety Week
Sept 12- MLS Meeting program "REALTOR SAFETY"
Sept 7- New Member Orientation
Sept 5- MLS meeting program "MEMORIAL TRIBUTE TO 9-11"
Sept 4- Labor Day, office closed
Sept 1- Porterville Chamber of Commerce First Friday Coffee, 7 am Grand Ave Methodist Church
SEPTEMBER IS REALTOR SAFETY MONTH
Aug 31- Deadline to vote on Lockbox Issue
Aug 31- Success Dam Remediation workshop, 6 pm at city library
Aug 29- City General Plan Update final workshop 6 pm at Porterville Library, 782-7460
Aug 29- MLS mtg, Marty Lalanne,CPA will speak on tax tips.
A BIG thank you to all who have taken time to vote on the lockbox issue. The deadline for response to the board office is August 31st. If you are an OBBR voting member and have not received your letter in the mail, please contact the office and we will fax you the letter so you will have an opportunity to vote. Again thank you to all who have responded.
This is the spot where people can post upcoming events and notes of interest for parties affiliated with the Orange Belt Board of Realtors in Porterville, California. For postings please Email notes and comments to OBBR@pacbell.net . (August 1, 2006)
# posted by orange belt board @ 9:59 PM
