January/February 2009


INSIDE: Resource Guide 13-16 | Colorado Economy : Pg 4-5 | Technology Checklist: Pg 22

Making a Difference
in your community
pages 10-11

PRSRT STD U.S. POSTAGEPAID PERMIT#751 DENVER, CO A publication of the Colorado Association of REALTORS®
309 Inverness Way South Englewood, CO 80112

Table of Contents
President’s Message ............................................................................ 3, 21 2008-2009 Calendar of Events ............................................................ 3 Colorado Economy Report................................................................... 4 Housing Stats ............................................................................................. 6 The Power of the R .................................................................................... 7 Energy Star® Windows............................................................................... 8 News Bytes .................................................................................................. 9 Making a Difference ...............................................................................10 CARHOF’s Crunch Trickles Down to Communities ..............................11 Title Insurance... .....................................................................................12 CAR Resource Guide ........................................................................ 13-16 Legal Digest ..............................................................................................17 Foreclosure Investors and FHA .........................................................17 Government Affairs .................................................................................18 Counsel Corner.........................................................................................19 Why Become a CRE? .............................................................................20 2009 Technology Checklist .....................................................................22 National RPAC Hall of Fame ..............................................................23 Colorado PSF Hall of Fame ................................................................23

makes no warranties and assumes no responsibility for the accuracy or completeness of the information contained herein. The opinions expressed in articles are not necessarily the opinions of the Colorado Association of REALTORS®. This is a copyrighted issue. Permission to reprint or quote any material from this issue is hereby granted provided the Colorado REALTOR ® is given proper credit in all articles or commentaries, and the Colorado EDITOR: Tyrone Adams, tadams@coloradorealtors.com Association of REALTORS® is given proper credit with two copies of any ADVERTISING/DESIGN: Monica Panczer, mpanczer@colorado- reprints. The term “REALTOR ®” is a national registered trademark for members of realtors.com the National Association of REALTORS®. The term denotes both business competence and a pledge to observe and abide by a strict Code of The Colorado Association of REALTORS® assumes no responsibility for Ethics. To reach a CAR director who represents you, call your local return of unsolicited manuscripts, photographs or art. The acceptance ® association/board. of advertising by the Colorado REALTOR does not indicate approval or endorsement of the advertiser or his product by the Colorado ® ® Association of REALTORS . The Colorado Association of REALTORS

The COLORADO REALTOR® is published by the: Colorado Association of REALTORS® 309 Inverness Way South, Englewood, CO 80112 (303) 790-7099 or 1-800-944-6550 FAX (303) 790-7299 or 1-800-317-3689.

[page 2]

President’s Message
Amy Dorsey, 2009 CAR President
Happy New Year, 2009! What a great time of year; a new beginning; a fresh start for all of us, as well as the real estate industry. While 2008 was a challenging year with political and financial changes, it was a dynamic one. This year, 2009, must be the REALTOR’s® year of focus on our business and industry. We must all contribute not only our time and energies, but our dollars. Yes, that’s right, I am asking for money; right up front…no soft sell here. Our business has been impacted for the past few years, and while not all of us have gone through the peaks and valleys at the same time, every region of our State, and Country for that matter, has felt an effect on real estate. As REALTORS® we share in advocacy and policy initiatives which are created to foster a healthy and vibrant US real estate market, which in turn advances vital communities in which to live and work. But in order to carry out the REALTOR® Legislative and Regulatory agendas, we must contribute to the “cause”; the REALTOR® Political Action Committee (RPAC) aka Political Survival Fund (PSF) in Colorado. While we have Members of our Government Affairs Committees who contribute and toil long hours, on our behalf, we also need dollars. RPAC was created in 1969 to promote the election of pro-REALTOR® candidates across the United States. In fact, in the last federal election cycle, RPAC contributed $12 million to pro-REALTOR® candidates to Congress. In 2008 NAR was the largest professional trade association in the United States; it represented more than 1.3 million residential and commercial REALTORS®. NAR listed 77 Legislative/Regulatory Issues on its web-site. That is an extensive and aggressive agenda. CAR also has a busy effective Legislative Policy Committee. A couple of weeks ago, I received the initial Bill Sheet from CAR’s Government Affairs Department. Then we had as, of January 9, 2009, at least 14 Bills on the List. And, there will be more. The issues on CAR’s bill list include matters pertaining to: Water, Business, Tax, Housing, Land Use, and Regulatory. Besides the “man/woman hours” necessary to pursue our initiatives, it also takes cash to support our REALTOR® agendas on a State and National level. When I was a “new REALTOR®”, my first year in the business, I got a call from a seasoned Broker in my local association. I couldn’t imagine why he called me. When I returned his call, he asked me to contribute to PSF. I had no idea what that was/is; but at least had the sense to confess to him my ignorance. He explained to me, in more basic terms than I will write here, in essence PSF consists of invested funds from REALTOR® members who want to protect real estate
continued on page 21

2008-2009 Calendar of Events
January 1-2 CAR Office Closed (Holiday) 22-23 RLI Land 101 Class - Fort Collins February 16 CAR Offices Closed 17 REALTOR® Day at the Capitol State Capitol 18-19 CAR Winter Business Meetings Marriott City Center - Denver Green Broker Course - Denver Board 26-27 March 20-24 April 9 23-24 June 8-11 AE Institute - The Broadmoor Metro Area REALTOR® Rally RSPS Course - Durango CAR Summer Conference & Bus. Meetings - Crested Butte

Go to www.ColoradoREALTORS.com for more information on these events and meetings.

[page 3]

Colorado Economy Report
The good news according to the U.S. Census Bureau is that Colorado is among the five fastest growing states July 2007 and 2008 increasing at an estimate growth rate of 2 percent. Colorado’s population increase of 96,686 is the eighth-largest gain in the country. The state’s estimated population was 4.9 million on July 1, compared with 4.8 million in July 2007.
The bad new is most economists are predicting that Colorado will join the rest of the nation in the recession in 2009. National Economist Richard Wobbekind of the University of Colorado at Boulders Leeds School of Business announced as part of the 44th annual Business Economic Outlook Forum hosted December 8th that the national economy is in a recession with no light at the end of the tunnel yet. This unknown makes it very unsettling to the person on the street and will dramatically affect consumers and businesses confidence. Low consumer confidence, coupled with the credit and housing crises as well as stock market instability point to a gloomy economic picture for Colorado in 2009. Below are economic predictors provided by Wobbekind. EMPLOYMENT Colorado employers next year will shed a net 4,300 nonfarm jobs, which represents a 0.2 percent decline, the Outlook predicts. Given deteriorating conditions since the forecast was prepared in the fall, a 1 percent job decline might be more likely, estimated Tim Sheesley, a corporate economist at Xcel Corp. who participated in the Outlook. That would translate into more than 20,000 jobs lost. Governments, natural-resource companies and health care providers are expected to show some of the larger employment gains. UNEMPLOYMENT Colorado’s unemployment rate is expected to rise from 5 percent this year to 6.4 percent next year. That would surpass the 6.3 percent rate seen in the summer of 2003 during the last downturn. Job losses will be heaviest in construction, with manufacturers, banks, retailers, publishers and the tourism industry also shedding workers. RETAIL Sales will increase only 1 percent next year following a 3 percent increase this year, the Outlook predicts. Adjusting for inflation, retail sales will have contracted in five of the past 10 years. Declining retail sales will also put pressure on government coffers, delaying some projects. CONSTRUCTION The number of housing permits pulled in the state is expected to fall to 17,700 next year from 19,500 in 2008, representing the fifth year of declines. Tighter financing requirements will hamper nonresidential construction projects for a second year, said Patty Silverstein, an economist with Development Research Partners who was involved in

[page 4]

preparing the forecast. Overall, the value of construction projects in the state is expected to drop to $8.7 billion next year, a 12.5 percent decline from $9.9 billion this year. TRADE, TRANSPORTATION AND UTILITIES Colorado’s largest job-producing sector will lose jobs in 2009 for the first time since 2003, shedding 4,800 jobs for a total employment of 428,700 people in the state. Retail jobs will lead the sector in jobs lost in 2009, with 2,500 jobs. Retail sales will climb 1 percent, the fifth time this decade for negative real growth. Taxes from retail sales are a primary source of income for many of Colorado’s municipalities. On the transportation side, slight declines are expected as airlines reduce capacity and business travel slows. INTERNATIONAL TRADE Colorado exports recorded a welcome turnaround in 2008, driven by a weaker dollar, the reopening of beef markets, strong increases in print machinery and robust commodity exports, such as mineral fuels and molybdenum. Growth in these areas offset declines caused by the closing or relocation of high-tech facili-

ties. Fourteen of the state’s top 20 exports are manufactured goods. Colorado’s top manufacturing exports, excluding computer and electronic components, will show doubledigit growth this year, paralleling the national trend. Exports are expected to decrease 3 percent in 2009, following an increase of 5 percent in 2008.

Why Are You Reading This?
Probably because you’re curious about real estate like CAR’s 26,000 + members. Get your message here next issue for as low as $250/issue. Call 303.790.7099 for details.

[page 5]

Housing Stats

What’ Going on in Colorado?

where the University of Colorado makes its As Colorado became more populous, home, Boulder will do much better than many national real estate trends followed and other places in the state during the current as most of the country saw their markets downturn. plummet Colorado followed suit. A Boulder is forecast by Housing Predictor to combination of the credit crunch, job losses see average homes deflate just 5.7% in 2009. and foreclosures has hit Colorado housing Low inventory levels of homes on the market markets hard with some rare exceptions. are adding to Boulder’s strength. Previously, at least Denver danced to its own Grand Junction is the biggest exception in beat in housing booms and busts against the all of Colorado real estate. A natural gas boom rest of the nation, but home prices in Denver has sent new home builders in to fill a supply have been on a two-year run south and 2009 of much needed new homes. Companies are will bring another down year in housing values forecast by Housing Predictor to drop 12.8% on still hiring workers in northwest Colorado to work in the fields in the natural the average home through the year’s end as sales remain MARKET AT A GLANCE 2009 gas boom. Many had been living slow. City Forecast in trailers and RV’s waiting for homes to be built. Foreclosures are Denver 12.8% The healthy local economy accounting for nearly 40% Aurora 11.9% is forecast to grow over the of Denver’s sales volume as 5.7% next year and appreciate at a more and more homeowners Boulder Grand Junction 3.1% moderate 3.1% in 2009, which get kicked out of their is better than most places in the homes, unable to make the Colorado Springs 7.4% nation. mortgage. In the suburb of Fort Collins 7.1% In Colorado Springs, homes Aurora home sales had a are selling much slower. The summer run-up only to slow down after bargain hunters shopping for rental community grew during the boom only to see home prices fall during the downturn and properties fled when the weather turned cold. deflation is forecast to continue through the Aurora has been hampered by a foreclosure year at a stronger 7.4%. epidemic, which forced city officials to Fort Collins is a place where many new seek federal funds to maintain the vacant residents have moved to escape big city blues homes. Foreclosures are projected to only to see the community grow during the increase throughout 2009 in Aurora as more real estate boom. Now with financing harder homeowners fall behind on their mortgages, to get for a mortgage, Fort Collins sales pace adding to an excess inventory of homes on the has slowed, sending the market’s home values market. Housing Predictor forecasts Aurora will lower, which are forecast to remain that way see home prices deflate 11.9% in 2009. over 2009 deflating 7.1%. In other parts of Colorado it’s not as devastating. In Boulder prices have fallen in This article is contributed by HousingPredictor. single digits and the market still has some com. movement. Known for being a college town,

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[page 6]

The Power of the R
What’s in a brand? You probably recognize brands from McDonald’s® to Microsoft® without even realizing it. Brands are symbols that make personal connections to consumers by evoking thoughts, emotions, and feelings. Branding helps people understand what a business or service is and what it stands for. As a member of CAR and the National Association of REALTORS®, you have the power of the REALTOR® brand working for you and your business. Research shows that consumers will pay more for a brand if they believe in its quality. NAR commissioned a study with a leading brand valuation firm and discovered that the REALTOR® brand is worth, on average, more than $4,500 annually to each individual member, and that the average lifetime value of the name REALTOR® is $32,000. That means that it would cost the average real estate professional that much money to license a brand worth as much as the REALTOR® name. Thanks in part to the Public Awareness Campaign, consumer focus groups have shown that homebuyers and sellers believe that REALTORS® are of higher caliber than are other real estate professionals. Consumers surveyed were nearly 10 times more likely to use a REALTOR® than a real estate agent who is not a REALTOR®. And in this increasingly competitive environment, the percentage of home buyers and sellers who believe that REALTORS® earn their commission has grown by 72 percent over the past 5 years.
©2007 National Association of REALTORS

Think of it as a new business magnet.
Your REALTOR® pin does more than just identify you as a proud member of the National Association of REALTORS®. It’s a powerful new business tool, one that attracts attention and starts conversations. Simply wearing it lets potential buyers and sellers know on sight alone, that you’re the person they can trust for all their real estate needs.

Of course, you can only take advantage of the power of the REALTOR® brand if you use it. Tell clients and potential customers that you’re a REALTOR®. Use the materials available to you at REALTOR.com. Include the REALTOR® R in your marketing materials and on your business cards and on your signs.
Tell them. Show Them. Wear your REALTOR® pin with pride.

Download the REALTOR® R logo and other handy REALTOR® logos at www.ColoradoREALTORS.com. Select “Resources” then logos.

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[page 7]

Energy Star® Windows
Raise the Bar for Energy Efficient Window Performance
By Bruce Lang
In recognition of America’s critical need to reduce demand for energy resources, the US Department of Energy (DOE) is raising the window performance standards of its Energy Star program that rates the energy efficiency of appliances and building components. New window performance standards will become effective in 2009. The agency proposes even more demanding requirements in 2013. More stringent Energy Star window performance standards will reduce energy usage, improve home values, and provide monthly savings to home owners. For Colorado home buyers, this means better, more energy efficient windows will be available for new construction and renovation. But not all windows entitled to the coveted Energy Star designation today will be so entitled when the new standards take effect. Many window manufacturers will need to re-engineer their products to meet the new standards. Fortunately, windows equipped with energy-efficient Heat Mirror insulating glass, with an insulation value of R-9, not only meet, but already exceed, the proposed 2013 requirements. R values measure resistance to heat flow and are a measure of insulation performance. Heat Mirror windows consist of a technologically advanced low emissivity and solar reflective film mounted inside an insulating glass unit in a variety of configurations (one or two coated films, clear or Low-E glass) providing a range of energy conservation performance from R-4 to R-9. Heat Mirror film, which creates multiple insulating cavities, is a superior technological alternative that extends performance well beyond the R-4 level of generic Low-E insulating glass available today. Among Energy Star’s objectives is increased market penetration of higher performance glass products, such as Heat Mirror glass, that are constructed with multiple air spaces for superior energy savings. DOE’s new standards will define the new criteria for high performance windows until at least 2018 (assuming a five year window product life cycle). Clearly, film-based, multi-cavity insulating glass is tomorrow’s state-of-the-art window glass available today. It has been saving energy in hundreds of Colorado homes and in such landmark Colorado buildings as the Boulder Municipal Library, the Eagle County Justice Center and the Jefferson County Courthouse. Bruce Lang is Vice President of Marketing & Business Development at Southwall Technologies, Inc., in Palo Alto, CA. Windows with Southwall’s Heat Mirror insulating glass already meet Energy Star’s 2013 window energy performance standards. He can be reached at blang@southwall. com.

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Earn your CE in the comfort of your home, office – anywhere. www.ColoradoREALTORS.com/Education

[page 8]

News Bytes
NAR-DOJ: Final Settlement Details On May 27, 2008, NAR and the U.S. Department of Justice reached a favorable settlement, concluding a two-year DOJ investigation (followed by two and a half years of litigation) regarding NAR’s multiple listing policy as it pertained to the display of listings from the MLS on brokers’ virtual office Web sites, or VOWs. Important changes to the NAR MLS policies and model rules require action by all MLSs no later than February 15, 2009. Learn more at www.Realtor.org. REALTOR® Rally April 9th in Denver Make plans now to attend the metro area REALTOR® Rally on April 9th at the Colorado Convention Center in downtown Denver. Hosted by the metro area boards/associations, the one-day REALTOR® Rally offers education, a trade show and Keynote speakers Larry Kendall and Lawrence Yun. Learn more at www.RealtorRally.org. One-stop Resources for REALTORS® NAR Field Guides provide information on dozens of topics. Each single-subject guide links to articles, books, Web sites, statistics, and more. Check out these guides at www. realtor.org. Not the Same Old FHA Improvements made in recent years: • FHA’s loss mitigation program authorizes lenders to assist borrowers in default. • FHA offers the Technology Open to Approved Lenders (TOTAL) Mortgage Scorecard. HUD developed the TOTAL Scorecard as an automated underwriting system to evaluate the credit risk of FHA applications. • FHA has also changed its guidelines for appraisals to make them the same as conventional appraisals. The new focus is on the valuation of the property. Repairs are no longer needed for cosmetic or minor defects or normal wear and tear. • FHA’s loan to value ratio is now comparable with other prime products. Upfront premiums, which may be financed, cannot exceed. 3.0 percent. Premiums for first time homebuyers who complete a counseling program cannot exceed 2.75 percent. The annual premium is 0.5 percent. • Borrowers can now pay any closing costs that are customary and reasonable in [page 9] the local market. However, FHA does not allow a borrower to pay a tax service fee, and the borrower cannot be charged an origination fee greater than one percent on forward mortgages. For more information go to www.fha.gov Participate in the CAR Winter Business Meetings CAR members are encouraged to participate in the 2009 CAR Winter Business Meetings that will be held February 18-19 at the Denver Marriott City Center. These meetings are an important aspect in shaping the future of the Colorado real estate industry, and your local and state real estate associations. All Colorado REALTOR members are welcome to participate. No registration is needed. To view the meeting schedule and committee agendas go to the “events” tab at www. ColoradoREALTORS.com

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Making a Difference
Volunteer Where Your Heart Leads You!
Sometimes the most difficult decision when it comes to volunteering is “where should I volunteer?” The answer is simple- where is your heart? Volunteering not only improves the lives of others, it also can improve your life and those around you. It can teach and give: work experience, job skills, responsibility, self-respect, self-esteem, perspective, passion, hope, leadership skills, generosity, tolerance, understanding, awareness, fun, credibility, confidence, community connections, appreciation for others, sense of belonging, cooperation, public speaking, planning, organizational skills, working for something beyond their own lives. Everyone -- from small children to senior citizens -- has something to offer the world. We all should have a since of responsibility to help those that are less fortunate and contribute to the common good. It may be your time or it may be financial contributions or a combination of both. Whatever the case every little bit truly helps when it comes to good works.

It is too easy to say “but I am so busy” or “I just don’t have the time” or “I don’t know where to start” and let your talents go to waste. Think about this, what if it was you who needed something or someone to fill a gap in your life? Ask yourself today what gift do I have that I can share? Then…Go where your heart leads you!


Ways to Give Back > >
1. Support affordable housing and become a CARHOF REALTOR®. This only involves a little set-up time and no monetary commitment from you. Learn how at www.CARHOF.org or call 303-790-7099. Volunteer at your local board or association. Keep your eye out for upcoming charity events your board or association is taking part in and either donate your time or money to the event. Get fit and help out. CAR has teams for the MS150 bike tour and the Brent’s Place fun run/walk in the summer months. Get ready to sign up for these or other fun run’s in your community and get fit while you give. Join NAR’s habitat for humanity efforts at their Annual Convention. Each year, NAR continues the tradition of helping one family in the Conference city realize the American dream of home ownership. You can be part of the experience by volunteering to help build with Habitat for Humanity. Learn more on NAR’s convention web page at www.REALTOR.org. 2.



[page 10]

Team Colorado REALTORS®
Let Team Colorado REALTORS® help you promote your charitable efforts and opportunities for your colleagues to get involved in too. Just send an e-mail detailing your community efforts with photos if available to tadams@ColoradoREALTORS.com. Many times the kick start people need is to know what opportunities are available. Thanks for caring and sharing!

CARHOF’s Crunch Trickles Down to Communities
It’s no secret times are tough on everyone which is why donations and volunteering is dwindling in record proportions. Non-profit organizations like CARHOF (Colorado Housing Opportunity Foundation) are starting to feel the strain of a weak economy, even though they have built a strong foundation and have received recognition like being named in the top ten for Corporate Foundations by the Denver Business Journal last month. With interest rates low and the real estate market struggling CARHOF’s return while still helpful will fall way short in its ability to help all of the non-profit housing organizations that have come to rely on this foundation. “On behalf of our Board of Directors, I would like to extend my sincere thanks for the $2,500 grant award. Your support will assist us in providing invaluable emergency shelter, services and support for victims of domestic violence.” -Safehouse Progressive for Non-Violence CARHOF isn’t just a foundation that gives money, it is a foundation that creates hope for [page 11] the homeless, victims of domestic violence, first-time homebuyers, families threatened with eviction or losing their homes, victims of a natural disaster and more. Only housing organizations are eligible for funding and they must be based in Colorado with a 501(c)3 status or be a public agency. “CARHOF grants are vital to our efforts to provide safe shelter, food, support services and an avenue to self-sufficiency for homeless adults in our community.” - Boulder Shelter for the Homeless Help one of Colorado’s most reliable and steadfast non-profit housing advocate foundations continue its mission of providing safe, decent and affordable housing for those in need by encouraging your real estate brokerage and title companies you work with to open a CARHOF account and by making a contribution online to CARHOF today at www. CARHOF.org.

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Title Insurance...
It’s the Consumer’s Choice - Providing an Educated Recommendation
By Garry Wolff shopping and selecting their title company, but does not diminish the role of real estate brokers to provide consumers with recommendations needed to make an informed decision. Based on this reality and the need for consumer education, real estate brokers considering their client’s best interests should provide consumers with an educated recommendation that encompass the elements of quality service, protection and costs. To make educated recommendations to your clients, knowledge of the ever changing title insurance market place is essential. myTitleIns.com is a FREE online title insurance resource (not a title company) that can assist you in making educated recommendations to your clients for selecting the right title company. If you prefer, guide your clients to myTitleIns.com so they can have the opportunity to shop and compare title insurance and closing services of different title companies.

In the Colorado Real Estate Industry, perception is reality because most consumers have the belief and expectation that their real estate brokers are looking out for their best interests when recommending a title company for their real estate transactions. However, recently adopted consumer protection measures will dramatically challenge the reality of this perception. The Colorado Real Estate Commission has clarified its position that consumers have the responsibility to shop and compare title insurance and closing services for their transactions. In addition, the Commission recently revised the following approved forms titled “BROKERAGE DUTIES DISCLOSURE TO SELLER/ BUYER” (BDD56-9-08, BD24-9-08 & SD16-9-08) (Mandatory 1-09), that contains the following new disclosure language that puts consumers on notice as to their responsibility. “DISCLOSURE OF SETTLEMENT SERVICE COSTS. Seller/Buyer acknowledges that costs, quality, and extent of service vary between different settlement service providers (e.g., attorneys, lenders, inspectors and title companies).” It should be noted that although the title insurance industry is regulated, title rates and closing fees can vary substantially from company to company. On a federal level, HUD on November 17, 2008 released their new RESPA rule (mandatory 1-2010) to simplify and improve the process for obtaining mortgages and makes it easier for consumers to shop among settlement service providers. The objectives of these state and federal actions are to educate and protect consumers. Most importantly, these actions were taken to give consumers the ability to shop among providers of title related services. In summary, the new Real Estate Commission approved disclosure is intended to make consumers aware of their responsibility for

PROVIDE YOUR CLIENT WITH AN EDUCATED RECOMMENDATION & GOOD FAITH TITLE ESTIMATE Subscribing title companies to myTitleIns.com will provide you and your clients with; 1) an advanced “Good Faith Title Estimate” (GFTE) of their title insurance and closing service costs, 2) information about their company and 3) additional closing protection assurances. Knowledge of these elements will assist you and your clients in selecting the right title company for their transactions. Garry Wolff has 34 years of title insurance experience and is the owner of TISERVICES LLC., a title insurance consulting & services provider. Garry can be contacted at gswolff@tiervicesllc.com or 303-795-1667 for more information about www. myTitleIns.com.

[page 12]

CAR Resource Guide
Compliments of the Equal Opportunity/Cultural Diversity Committee REALTOR® ASSOCIATION INFORMATION Colorado Assn of REALTORS® (CAR) 303-790-7099 Colorado Association of REALTORS® Housing Opportunity Foundation(CARHOF) 303-790-7099 Colorado Home Programs National Assn of REALTORS® (NAR) 800-874-6500 NAR Housing Opportunity Program NAR Action Center The NAR Action Center - Government Affairs Division. NAR Official Site Publicly accessible web site/national property search tool


www.ColoradoREALTORS.com www.carhof.org www.COHomePrograms.com www.realtors.org www.realtor.org/housopp.nsf www.naractioncenter.com www.realtor.com

Pull out pages 13-16 for your reference!

NAR INSTITUTES, SOCIETIES & COUNCILS (Specialty organizations affiliated with NAR) Commercial Investment Real Estate Institute (CCIM) 312-321-4460 www.ccim.com Council of Residential Specialists (CRS) 800-462-8841 www.crs.com Counselors of Real Estate (CRE) 312-329-8427 www.cre.org Institute of Real Estate Management (IREM) 312-329-6000 www.irem.org Council of Real Estate Brokerage Managers (CRB) 800-621-8738 www.crb.com REALTORS® Land Institute (RLI) 312-329-8440 www.rliland.com Society of Industrial & Office REALTORS (SIOR) 202-737-1150 www.sior.com Women’s Council of REALTORS® (WCR) 800-245-8512 www.wcr.org INSTITUTES, SOCIETIES & COUNCILS – COLORADO CHAPTERS Colorado/Wyoming CCIM Chapter www.cowyccim.org CRS Colorado Chapter #1 www.coloradocrs.com CRE - (Chapter info on National site) www.cre.org IREM – Northern CO Chapter #17 www.iremdenver.org IREM – Southern CO Chapter #53 www.ppar.com Rocky Mountain CRB Chapter www.rmcrb.com RLI - Colorado Chapter #5 www.coloradorli.com SIOR - (Chapter info on National site) www.sior.com WCR - Colorado www.coloradowcr.org REAL ESTATE ORGANIZATIONS Asian Real Estate Association of America (AREAA) Colorado Association of Hispanic Real Estate Professionals (CAHREP) Commercial Real Estate Women (CREW Denver) National Association of Hispanic Real Estate Professionals (NAHREP) National Association of Real Estate Brokers (NAREB) ASSOCIATIONS & ORGANIZATIONS American Society of Appraisers (ASA) Appraisal Institute Association of Real Estate License Law Officials Colorado Apartment Association Colorado Assessor’s Association Colorado Association of Real Estate Investors Colorado Association of Home Builders Colorado Bankers Association Colorado Bar Association Colorado Coalition for the Homeless Colorado Contractors Association Colorado Counties Colorado Foundation for Water Education Colorado Municipal League [page 13] www.areaa.org www.cahrep.com www.crewdenver.org www.nahrep.org www.nareb.com www.appraisers.org www.colo-ai.org www.arello.org www.caahq.org www.e-caa.com www.carei.com www.hbacolorado.com www.coloradobankers.org www.cobar.org www.coloradocoalition.org www.coloradocontractors.org www.ccionline.org www.cfwe.org www.cml.org

ASSOCIATIONS & ORGANIZATIONS CONT. Colorado Nonprofit Association Community Association Institutes Latin American Research and Service Agency (LARASA) Rocky Mountain Home Association

www.coloradononprofits.org www.caicolorado.org www.LARASA.org www.coloradohome.org


FAIR HOUSING INFORMATION American With Disabilities Act (ADA) 800-514-0301 www.ada.gov ADA & Information Technology Center www.adata.org Disabilities www.hud.gov/groups/disabilities.cfm Independent Living Centers www.ilusa.com National Fair Housing Alliance - 202-898-1661 www.nationalfairhousing.org U.S. Dept. of HUD www.hud.gov/groups/fairhousing.cfm FORECLOSURE INFORMATION Homeownership Preservation Foundation: Colorado’s Foreclosure Prevention Hotline National Foreclosure Prevention Hotline GOVERNMENT INFORMATION – STATE State of Colorado Colorado Bureau of Investigation -Convicted Sex Offender Site Colorado General Assembly Department of Regulatory Agencies Division of Civil Rights Division of Insurance Division of Real Estate Department of Local Affairs Div. of Housing Secretary of State State Land Board Mold FAQ’s Radon information Voter Registration GOVERNMENT AGENCIES – FEDERAL Environmental Protection Agency Federal Housing Administration Federal Housing Finance Board Federal Emergency Management Agency (FEMA) Federal Trade Commission The United States House of Representatives The United States Senate US Dept. of Housing and Urban Development US Dept. of Agriculture, Rural Development US Dept. of Veterans Affairs - Benefits and Services HOUSING INFORMATION Affordable Housing Management Association (Colorado) Colorado Home Programs Colorado Housing Counseling Coalition Colorado Housing Search (Free statewide listing service) Community Housing Resource Board 720-423-2789 Community Housing Services 303-831-1750 Colorado Association of Home Builders 303-691-2242 Enterprise Foundation Habitat for Humanity www.habitatforhumanity.org Housing Assistance Council (HAC) Housing Colorado 303-863-0123 [page 14]

1-877-601-4673 (HOPE) English & Spanish 1-888-995-4673 (HOPE) www.colorado.gov http://sor.state.co.us www.leg.state.co.us 303-894-7855 www.dora.state.co.us 303-894-2997 www.dora.state.co.us/civil-rights 800-262-4845 303-894-7490 www.dora.state.co.us/insurance 800- 930-3745 303-894-2166 www.dora.state.co.us/real-estate 303-866-2033 www.dola.state.co.us/cdh www.sos.state.co.us 303-866-3454 http://trustlands.state.co.us www.realtor.org/realtororg. nsf/pages/moldfaq www.cdphe.state.co.us/hm/rad/ radon www.elections.colorado.gov www.epa.gov www.hud.gov/offices/hsg/ hsgabout.cfm www.fhfb.gov www.fema.gov www.ftc.gov www.clerkweb.house.gov www.senate.gov www.hud.gov www.rurdev.usda.gov www.homeloans.va.gov www.rockyahma.org www.cohomeprograms.com www.housingcounseling.com www.ColoradoHousingSearch.com www.chrb.net www.chsico.org www.hbacolorado.com www.enterprisefoundation.org www.ruralhome.org www.Housingcolorado.org

HOUSING INFORMATION CONT. Housing Justice! HUD Home Property Listings National Affordable Housing Management Association National Association of Home Builders National Association of Housing & Redevelopment Officials (Colorado Chapter) National Council of State Housing Agencies National Housing & Rehabilitation Association National Low Income Housing Coalition NeighborWorks America Real Estate Settlement Procedures Act (RESPA)

LENDING / MORTGAGE Center for Responsible Lending www.responsiblelending.org Colorado Assn of Mortgage Brokers (CAMB) 303-991-2440 www.camb.org Colorado HOA Law www.cohoalaw.com Colorado Housing & Finance Authority (CHFA) 303-297-2432 www.chfainfo.com Colorado Housing Assistance Corporation www.coloradohousingassistance.org Colorado Mortgage Lenders Assn (CMLA) 303-773-9565 www.cmla.com Fannie Mae www.fanniemae.com Federal Housing Administration www.hud.gov/offices/hsg/ hsgabout.cfm Federal Housing Finance Board www.fhfb.gov Freddie Mac www.freddiemac.com Freddie Mac Predatory Lending www.dontborrowtrouble.com Funding Partners for Housing Solutions www.fundingpartners.org Ginnie Mae www.ginniemae.gov Mortgage Bankers Association of America www.mbaa.org National Association of Mortgage Brokers www.namb.org US Dept of HUD Predatory Lending site www.hud.gov/offices/hsg/sfh/ buying/loanfraud.cfm USDA Rural Development www.rurdev.usda.gov/co VA www.vamortgagecenter.com Veterans Benefits and Services www.homeloans.va.gov MISCELLANEOUS Action 22, Inc. ChoicePoint- (C.L.U.E. Reports) 866-312-8076 Colorado Legal Services E-Star (Energy Rated Homes) FCC’s On-Line Consumer Complaint – Unsolicited fax FDIC Special Alerts Federal Trade Commission - consumer complaints Find Your Legislators - Vote-Smart Government Services Admin/links to Fed agencies Homebuilder.com (New Construction) KnowledgePlex Lender Alerts – termination of lender approval National Consumer Law – Low Income Consumer Justice Partnership for Home Energy Efficiency Progress 15 Real Estate Library www.action22.org www.choicetrust.com www.coloradolegalservices.org www.e-star.com www.fcc.gov/cgb/complaints.html

www.housingjustice.org www.hud.gov/homes/homes forsale.cfm www.nahma.org www.Nahb.org www.nahro.org www.conahro.org www.ncsha.org www.ncsha.org www.nlihc.org www.nw.org www.hud.gov/offices/hsg/ sfh/res/respa_hm.cfm


www.ftc.gov/bcp/index.shtml www.vote-smart.org www.usa.gov www.homebuilder.com www.knowledgeplex.org www.hud.gov/offices/hsg/sfh/ lender/lendterm.cfm www.consumerlaw.org www.energysavers.gov www.progressive15.org www.relibrary.com

[page 15]

INTERNATIONAL REAL ESTATE TOOLKIT REALTOR® RESOURCES CIPS Membership Country Profiles International Consortium of R.E. Associations International Real Estate Research Power Tools for International Practitioners World Properties GOVERNMENT RESOURCES CIA World Fact Book FIRPTA Tax Rules Visa Information


www.REALTOR.Org/CIPShome.nsf /pages/Membership www.REALTOR.Org/IntlProf.nsf www.REALTOR.Org/CIPShome. nsf/pages/ICREA www.realtor.org/Research.nsf/ pages/reportsintl?OpenDocument http://narblog1.realtor.org/ mvtype/international/ www.worldproperties.com

www.cia.gov/redirects/factbookre direct.html www.irs.gov/businesses/small/ international www.RIS.Gov/Businesses/Small/ International/ www.Travel.State.Gov/Visa/ Visa_1750.html www.UnitedStatesVisas.gov www.executiveplanet.com/index. php?title=Main_Page www.getcustoms.com/2004GTC/ index.html www.ColoradoREALTORS.com/ car_resources_main.asp? section=&module_id=152 www.bspage.com/address.html www.ired.com/ www.immigrationforum.org/ www.reutersrealestate.com/ www.REALTOR.Org/CIPShome.nsf/ pages/cipshome www.REALTOR.Org/CIPShome.nsf/ pages/TRC www.REALTOR.Org/Resort www.afire.org www.cerean.com www.fiabci.org/ www.iire.co.in/ www.intlhc.org/ www.irpf.org/irpf.nsf/homepage? OpenForm www.ampi.org/english.php www.WTCdn.com

INTERNATIONAL BUSINESS Business Culture and Etiquette

Consular Corps

Business Address Formats & Communications International Real Estate Digest National Immigration Forum Reuters Real Estate DESIGNATIONS CIPS Home Page Transnational Referral Certification Resort & Second Home Property Specialist ORGANIZATIONS, INSTITUTES AND ASSOCIATIONS Association of Foreign Investors of Real Estate Central European Real Estate Associations Network FIABCI International Real Estate Federation India Institute of Real Estate International Housing Coalition International Real Property Foundation Mexican Real Estate Association World Trade Center Denver MISCELLANEOUS Basic Language Translation

www.google.com/language_ tools?hl=en

[page 16]

Legal Digest
Foreclosure Investors Not Exempted from FHA Seasoning
By: Jon Goodman and Jeremy Durham
Buyers at foreclosure auctions must purchase with cash (eliminating much competition), often don’t have the opportunity to inspect the interior of the property, and risk being redeemed out by junior lien holders. Generally, foreclosure buyers acquire properties at below their retail fair market value. While it is intuitive that they should be exempted from FHA’s seasoning requirements when flipping property, foreclosure buyers are not so exempted. The commonsensical premise of the FHA seasoning requirements is that the rapid resale of a property at a price over the acquisition price makes the resale price suspect, therefore making the financing that funds the flip transaction, and is secured by the flipped property, suspect. Federal regulation 24 CFR Part 203.37 restricts the availability of FHA mortgage insurance for properties that are re-sold less than 90 days following the date of acquisition by the seller. The 90 day clock starts on “the date the seller acquired the property.” FHA underwriters seem to interpret this language to mean that the 90 day clock starts on the date on which the flipper’s acquisition deed is recorded, not the earlier date when the flipper receives title. Under Colorado foreclosure law, title passes to the holder of the certificate of purchase eight business days after the foreclosure auction, unless a junior lien holder files a notice of intent to redeem. If no junior lien holder files a Notice of Intent to Redeem, the public trustee later issues a “Confirmation Deed” that merely confirms that title passed after the expiration of the eight business day period. But the public trustees cannot issue the deed until 15 business days after the auction, and the deed typically doesn’t get recorded for another several business days. This impedes the investor’s ability to sell the property to an FHA buyer for essentially an extra month beyond the FHA 90 day waiting period. Can the contract come before the 90 day period if it closes after the 90 day period? The rule states that the re-sale date is “the date of execution of the sales contract that will result in the FHA mortgage insurance.” Therefore, the contract that closes for the resale of the property must be mutually executed more than 90 days after the lender’s acquisition. There are logical exceptions to the FHA seasoning requirements. The resale of real estate owned (REO) by lenders is exempted. Yet if someone other than the foreclosing lender acquires title at the foreclosure auction by outbidding the foreclosing lender, the investor doesn’t benefit from an exception. The lack of an exception for foreclosure buyers inhibits the speed with which affordable housing can be sold to owner occupants. To read more about this topic, visit www.ColoradoREALTORS.com and select “Legal Tools,” then “Legal Hotline Article.”

America’s First and Foremost Home Inspection Association

To find an ASHI Inspector in your area, go to www.ColoradoASHI.org
[page 17]

Government Affairs
Register today for REALTOR® Day at the Capitol on February 17 and take advantage of your opportunity to discuss Colorado Real Estate related issues with your local and state legislators. Your support with grassroots efforts like this is needed and speaks volumes as CAR continues to protect and promote favorable real estate policies in Colorado. Don’t miss out on your chance to have a voice on issues such as: • Improving the Quality of Life in your community • The marketability of property in your neighborhood • Protecting your income and maintaining your commissions and • Educating and screening policy makers who support REALTOR® issues, plus more! Your support with grassroots efforts like this is needed and speaks volumes as CAR continues to protect and promote favorable real estate policies in Colorado. Pre-Register by Tuesday, February 10, 2009 for $40 (includes lunch, materials and transportation to Capitol). Register after Tuesday, February 10, 2009 for $50 (onsite registration subject to availability for luncheon). Tentative Schedule, Subject to Change: Denver Marriott City Center 1701 California Street Denver, CO 80202 10:30-11:30am – Registration and Check-In 11:30-1:00pm – Luncheon and Legislative Briefing (Marriott) 1:30-4:30pm – Afternoon Program (State Capitol, Old Supreme Court Chambers) 5:30pm – Evening Reception with Legislators (Marriott) Register online today at www.Colorado REALTORS.com. See you at REALTOR® Day at the Capitol!

The 2009 Colorado General Assembly convened on Wednesday, January 7. CAR’s Legislative Policy Committee (LPC) is already at work looking out for the best interests of all Colorado REALTORS’®. While they can never fully anticipate every piece of legislation that will significantly impact Colorado’s real estate industry, the group does expect the return of some familiar issues relating to affordable housing, joint-tenancy statutes, and regulation of 1031 Qualified Intermediaries. Other issues the LPC will also weigh in on issues concerning water, land use, business and taxation, housing, and regulatory issues affecting REALTORS® and the communities in which we live and work. The LPC, appointed by the CAR President, will meet regularly and on an as needed basis to discuss, to support, to oppose, or to remain neutral on proposed legislation which will then be lobbied at the State Capitol. You too can assist Colorado REALTORS® by answering CAR and NAR “calls to action” and investing your local or state Political Survival Fund (PSF). To stay up-to-date on real estate related legislative issues go to the Government Affairs page at www.ColoradoREALTORS.com or sign up to receive the NEW Government Affairs email report. Contact CAR’s Government Affairs Division at 303-790-7099 to learn how you can get the latest political news that affects your business.

[page 18]

Counsel Corner
While reactions to the most significant provisions of the final RESPA reform rule (“Final Rule”) range from applause to criticism, industry experts and officials seem convinced that the Final Rule will ultimately be pushed through. Therefore, REALTORS® should understand the final rule’s impact on the services you provide. A detailed report on this 341 page Final Rule is beyond the scope of this article. Arguably, the real estate brokerage industry is one of the settlement service industries least impacted by the Final Rule. HUD listened to constructive comments presented by NAR and redrafted the Good Faith Estimate (“GFE”) and the HUD-1 language to synchronize the documents and allow for easier consumer comprehension. Further, in response to concern from small businesses, HUD chose to scrap the proposed modifications to the term “thing of value.” While the modifications would have explicitly allowed negotiated discounts and possibly steered lenders and consumers to larger service providers, HUD made it clear that in most circumstances if an individual settlement service provider negotiates a discount on behalf of the borrower, and then passes 100% of that discount to the borrower, there is no violation of the Final Rule. Even though HUD listened to industry leaders and made several positive changes to the Final Rule, HUD has not yet collaborated with the Federal Reserve to update the Truth in Lending Act to comport with the Final Rule. As a result, the real estate brokerage industry must comply with both laws, and there may be some confusion. The HUD-1 will be

This column is a legal resource for local associations, local association counsel, and REALTORS®.

By: Kristine Poston, Esq. & Dick Clark, Esq.

three pages with the third page replacing the “script” to be read at closing which was proposed in an earlier draft of the Rule. Closings may be longer because consumers may have questions stemming from the longer HUD-1. Although the effective date of the Final Rule was January 16, 2009, it actually has two implementation phases, as follows: January 16, 2009: (1) the new definition of “required use” is applicable; (2) the use of average charges by all settlement service providers is permitted; and (3) three proposals have been implemented without change which are: (a) revisions to the mortgage servicing disclosures, (b) removal of expired escrow regulation provisions, and (c) recognition by HUD of the applicability of ESIGN (i.e., allowing for the electronic transmission of disclosures). January 1, 2010: (1) the new three page GFE and affiliated requirements take effect; (2) the new three page HUD-1 are required; and (3) all other definitions and provisions not previously effective are implemented. Links to the New Rule, new GFE, new HUD1, other forms and pertinent information may currently be found at www.hud.gov/respa. Please contact your attorney/local board counsel with specific questions.
Kristine Poston’s practice at Rothgerber Johnson & Lyons LLP. She can be reached at 303-628-9538 or by e-mail at kposton@rothgerber.com. This Article is published for general information purposes only. The content should not be construed as legal advice or opinion. You are urged to contact a lawyer concerning your specific legal situation. Determination of the need for legal services and the choice of a lawyer are extremely important decisions and should not be based solely upon advertisements or self proclaimed expertise.


othgerber Johnson & Lyons has more than 30 years’ experience advising real estate brokerage firms across Colorado in commercial, residential, property management, investment, leasing, industrial, resort, and farm and ranch transactions. From listing and commission issues to licensing, regulatory and tax matters, we assist with the legalities of brokerage needs.
Denver · Colorado Springs · Casper

· Affiliated business arrangements · Commission disputes and collections · Environmental challenges · Homeowners’ associations · Insurance

· Licensing · Listings and contracts · Oil & gas leases · Regulatory matters · Tax matters · Title issues · Trials/appeals

Contact Dick Clark at 303-628-9531 or rclark@rothgerber.com

303-623-9000 · www.rothgerber.com

[page 19]

Why Become a CRE?
By: Ryan Toole, CRE
So, why become a CRE? Becoming a CRE is not for every senior real estate professional. For me, the CRE® (Counselors of Real Estate) designation is as much about access as it is about demonstrating my own professional qualifications. It is about the opportunity to attend local and national meetings with people at the very top of their professions- bankers, appraisers, mortgage professionals, asset managers and consultants. CRE®, formerly known as the American Society of Real Estate Counselors, is one of five diverse commercial affiliates of the National Association of REALTORS®. The other four are CCIM, SIOR, RLI and IREM. The other affiliates are well known, highly regarded, main stream designations with many thousands of members. Their members are typically specialists who have met the training, education and experience requirements to join these organizations and use the designation. Today there are only 1,100 CREs world-wide. Members come from real estate, financial, legal and accounting firms as well as from leadership positions in government and academia. The essential business linkage among them is that they all provide advisory services to clients or employers in the real property arena. What is real estate counseling? “It is the act of providing advice or guidance on real estate decision-making for a client or employer. The advice is rendered solely for the use of the parties receiving the advice and it is rendered without personal bias or conflict of interest. Real estate counseling is not considered a real estate discipline such as brokerage, management or appraisal, but rather a process.” This definition reflects the long-standing requirement that the Counselor’s compensation be based upon the inherent value of their knowledge and experience as opposed to being contingent upon an outcome or otherwise being linked to the value of a real estate transaction. Membership does include some very senior commercial property agents, but these are individuals whose long careers and depth of experience have allowed them to become advisors as well as commissioned brokers. Nor does one have to be a “consultant” in the common sense of the word. Many CRE’s have spent their careers as “single-client” advisors, working for a company or institution in the real estate business. You might ask how one becomes a CRE. The CRE designation is awarded twice a year by invitation only, in recognition of an individual’s achievements in counseling and adherence to a strict code of ethical conduct. There are no formal classes or tests to complete. However, applicants must: 1. have at least ten years experience in real estate, three of which must be in counseling; 2. hold a senior position in their firm, university or government section; 3. show evidence that they provide meaningful professional real estate counseling services; 4. be recognized by his or her peers for excellence as an advisor; and 5. conduct their business activities with uncompromising adherence to ethics and professional standards. Application may be self-initiated, although many applicants are sponsored by members of the CRE organization. It is also more expensive than some other designations. You can learn more at CRE.org. I belong to several other professional organizations, but only the Counselors of Real Estate (CRE) provides exclusive access to top professionals in such a wide spectrum of disciplines in a small group setting. This access, combined with the collegial atmosphere of the Counselors, provides a unique professional experience.
Ryan Toole is a single-client advisor with The Pyne Companies, a boutique real estate investment management firm.

[page 20]

President’s from page 3 interests and private property rights. Yes, PSF does contribute money to support candidates on all levels; local, state and national, and a majority of the money is used in our local communities. However, a very important point is that PSF/ Political Survival Fund is nonpartisan. We support REALTOR® interests. As the years have gone by, and my business has grown, I have been able to contribute more than the initial $25. I have always considered it my good fortune that I am able to contribute larger amounts. And, my RPAC pin is truly one of my favorite pieces of jewelry. I feel it is my badge of success and honor. I’ve always been quiet about much of my involvement as a REALTOR®; to each his own, and no one likes a zealot. But, that stops now. I owe you my utmost and fidelity to the REALTOR® agenda. If you are not contributing, why not? Why are you allowing others to “carry you” and fight the fight to allow you to do business as you always have; or promoting private property rights on your behalf? More importantly why are they protecting your right to compensation as you deem it, or dealing with tax and business issues which greatly affect the sale of private property? If you happen to go on to the Colorado Association of REALTORS® web-site, you will note on the PSF Contribution Form the following statement, “Your contributions are voluntary and used for political purposes. You may refuse to contribute without affecting your membership rights. Your contributions will be allocated according to the following formula: 30% of your contribution will be used by RPAC…, 20% of your contribution will be used to support local candidates. 50% of your

contribution will be used by RIPAC to support ballot issues…” I know it has been a tough business year for some of you. But, if you do not have CAR and NAR Government Affairs Divisions working, daily, on your behalf, the upcoming years could be tougher. I am still asked to drop by the Vail Board of REALTORS Monthly Orientation for New Members. I usually give them a quick five minutes about many things; one of which is “why” we will ask them for PSF Dollars. One of the things I always say is that each day, someone wakes up and gets in a car or on a plane to work on REALTOR® initiatives and on behalf of you the individual REALTOR®. This is the year of change and involvement, step up and give. You will never miss the dollars. My first job was babysitting. My mother always told me when I left our home to go sit for the neighborhood children, to leave their home in clean orderly condition…she always reminded me that I should leave the home in better condition than I found it. That is what each of us must do this year; leave our industry better than we find it today. If you have the pleasure to meet our 2009 PSF Committee Chair, Bob Fullerton, please give him your thanks for accepting his very “big job” of asking Membership for contributions. Thank you and I wish you all health, happiness, and great fortune this year.

CRS 201 Listing Strategies February 9th - 10th, 2009 Instructor: Chuck Bode Co-Sponsor: Loveland/Berthoud Association CRS 204 Building Wealth through Residential Real Estate April 14th - 15th, 2009 Instructor: Dale Carlton Co-Sponsor: Denver Board of REALTORS® CRS 205 Financing and Tax Class – Newly Revised, Two Dates & Locations May 18 - 19th, 2009 Instructor: Pat Zaby Co-Sponsor: Aurora Association of REALTORS® November 3rd - 4th, 2009 Instructor: Tina Daniel Co-Sponsor: Denver Board of REALTORS®

Course descriptions & registration at www.ColoradoCRS.com All courses are $250 or $225 for Chapter Members. [page 21]

By Michael Antoniak | www.realtor.org
Is your real estate office ready for 2009?

2009 Technology Checklist

Technology is so interwoven into the real estate business that keeping up with new product introductions and services is necessary to stay competitive and efficient. In 2007, 65 percent of sales agents and associate brokers spent anywhere between $251-$2,000 on technology for real estate purposes, according to the 2008 REALTOR® Technology Report, conducted annually by the Center for REALTOR® Technology. Here’s an overview of key products and solutions to help you make those dollars stretch in 2009. THE 4 ESSENTIALS Many real estate pros are finding they can’t live without these four essentials: a mobile phone, computer, digital camera, and navigation solution. New products are constantly being introduced, but there’s good news for bargain shoppers: You can find great deals across the board on these products as vendors work to move product in a sluggish market. 1. Phones: The smartphone is the smart choice for most real estate professionals, giving you a portable office in the palm of your hands. NAR’s 2008 technology survey found 42 percent of real estate pros already are using some form of Web-enabled phone. Notable introductions like the latest iPhone and Blackberry Bold have garnered the kind of publicity and visibility that helps legitimize the smartphone for more people. Phones are evolving in other ways to become the one indispensable device for all your mobile needs. The 5-Megapixel Kodak/ Motorola Motozine ZN5 was unveiled in June as a mobile imaging device good enough to replace a digital still camera. More models are on their way. 2. Computers: For most real estate pros, a laptop makes sense as a primary computer. You have many choices, even under $1,000: Dell’s Vostro line-up, Hewlett Packard’s “balanced mobility” laptops; and Lenovo’s Thinkpad SL series.

Another notable trend is the increased selection of ultra-compact mobile computers. For some, this might be the ideal compromise between a smartphone and laptop, delivering basic functionality and mobile Web access in a truly portable package. Examples include the Lenovo IdeaPad S-10, Dell Inspiron Mini-9, HP 2133 Mini-Note, or Asus Eee PC 900. 3. Cameras: The one area where camera phones continue to lag behind digital-still cameras is lens optics. Wide-angle capabilities can be especially important for real estate photography, and the selection of wide-angle cameras continues to grow. Nikon’s Coolpix P80 launched this year is one good example: It has an 18X zoom for highlighting features and a wide angle setting for getting the whole room in the picture. Newer wide-angle models include Canon’s PowerShot SX 10 and the Olympus SP-565 Ultra Zoom. 4. Navigation: This year’s technology survey found that more than a third of real estate practitioners—34 percent—now rely on GPS navigation for help getting around. The technology is evolving in two directions: hardware and service. On the one hand, you have hardware systems like Sony’s Nav-U line, TomTom’s car navigation systems or the Gamin nuvi 880. But you’ll likely see more GPS capabilities becoming a function built into other hardware, or provided as a service, rather than requiring a dedicated device. For example, services like Verizon’s VZNavigator, AT&T Navigator, Sprint Navigation, and Telenav offer point to point directions on your cell phone. TECH TRENDS FOR 2009 1. More mapping mashups. 2. Virtual tours grow up. 3. Social networking becomes mainstream for real estate. 4. Not text messaging? You will be soon. To learn more, visit www.Realtor.org and select the technology tab. If you have technology questions or problems, CAR members can call the Tech Helpline for FREE at 1-866-3027, Monday - Friday from 8am - 5pm.

[page 22]

PSF Hall of Fame
list updated 11/15/08

National RPAC Hall of Fame

(Cumulative Lifetime Monetary Commitment of $25,000 or more to PSF and RPAC)

Amy Dorsey Vail

Chris McElroy Fort Collins

Bonnie Smith-Allen Summit

Kay Watson South Metro

Colorado PSF Hall of Fame

(Cumulative Lifetime Monetary Commitment of $10,000 or more to PSF and RPAC)

Okie Arnot

Joseph Clement

Kevin Cook

Kit Cowperthwaite

Amy Dorsey

William Hurt

David Jenkins

Dennis L. Johnson

Jeff Kirkendall

Michael Labout

Adam Malachi

Scott Matthias

Nancy McBride

Chris McElroy

Ron Myles

Tyrone Olson

Bill Osnowitz

Carolyn Osnowitz

Bud Patterson

Kay Deen Patterson

Bobbi Price

Jim Rhoades

Bonnie Smith-Allen

Tami Spaulding

Terry Storm

Debbie Tamlin

Kay Watson

Gus Williams

Greg Zadel


Become a PSF Investor in 2009
Investing in the Colorado Association of REALTORS® Political Survival Fund (PSF) and the REALTOR® Small Donor Committee (RSDC) is one of the smartest investments you can make in your real estate career. Best yet, PSF and RSDC represents the REALTOR® party - not the Republican or the Democratic party! By investing in PSF and RSDC, you are helping to: • Protect your income and maintain your commissions • Educate and elect policy makers who support REALTOR® issues and • Improve the Quality of Life in your community and the marketability of property in your neighborhood. Become an investor today in your business by going online to the Government Affairs tab at www.ColoradoPSF.org or contact your local association. Donate Online at www.ColoradoPSF.org [page 23]

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