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CCAR News
Come and get your flu shots - 10/9
"Shift Happens"
Mortgage lending: Not just a subprime problem
2007 CCAR Annual Membership Survey
WCR Octoberfest Party! - Save the Date 10/19

Education
Education Feature Class
TRLP Class III selected

Republic Title has several convenient locations to serve you better. Our commercial division is centrally located in downtown Dallas and Fort Worth, and our residential division has many offices within the core of the Dallas, North Dallas, Richardson, Plano, Frisco, Denton and Fort Worth areas.
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"Shift Happens"
The REALTOR® update, “Shift Happens: What’s happening? What will WE do about it?,” is now available on the CCAR Web site. You can access the presentation through the direct link highlighted above, or by visiting the CCAR Web site and looking under the “Hot Topics” section.
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Mortgage lending: Not just a subprime problem
Late summer has proven to be a tumultuous season in mortgage lending. The well-publicized shortage of liquidity is a significant challenge that is impacting some strong borrowers, not just subprime buyers.

There has been a lack of appetite on Wall Street for most loans that do not fit into agency (Fannie/Freddie) or government (HUD/VA) guidelines. Examples of loans that have been under pressure include: stated income documentation, loan amounts greater than $417,000, marginal credit scores, and high combined loan to values. Because the rules and pricing on these “non-agency” mortgages have changed, many previously qualified buyers are having difficulty obtaining acceptable financing.

In order to protect your clients, we recommend updating the preapproval letter that accompanies any contract to match the contract date and loan terms set forth on the finance addendum. This added step of due diligence prior to signing the purchase agreement could shine light on a lending guideline change that might make the expected loan terms unattainable.

More than ever, your relationship with a proactive, communicative loan counselor—like one from your CCAR REALTOR® Lender Committee—is critical to ensuring that your clients enjoy a smooth buying or selling experience.
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2007 CCAR Annual Membership Survey
The CCAR 2007 Annual Membership Survey will be available the first week of October. Please watch your e-mail for information on how you can participate in the survey and enter the prize drawing. The membership survey is an opportunity for you to tell us which services are most important to you, how often and how you would like us to communicate with you, and what our association can do to ensure that you receive as much value from your membership as possible. 

Please note that the Annual Membership Survey is not the same survey you recently received. Rather, that was our Member Satisfaction Survey, which allows you to tell us how we are doing. To date, we have had more than 600 participants complete the satisfaction survey—a terrific response.

We always value and appreciate your input, and we look forward to hearing from you. Thank you, in advance, for completing the membership survey.
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TRLP Class III selected
Congratulations to those selected for Class III of the Texas REALTORS® Leadership Program (TRLP):

The TRLP is a program of the Texas Association of REALTORS®. The objectives of the program are to discover, recruit, educate and empower through eight days of interactive instruction given over an eight month period.
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Vote for Prop 6 on November 6!
Texas legislators recently passed a bill that could end the insidious fee called mixed-use vehicle taxation that targets REALTORS® and many other independent contractors. However, there is one final hurdle: statewide ratification by voters. This is the do-or-die step to ensure that all Texas REALTORS® won’t have to pay $600 or more in additional taxes per year.

The stakes are high. If Prop 6 fails, it will be a green light for all central appraisal districts to target REALTORS® and other independent contractors who drive a car. Spread the word. Tell friends, family, neighbors and business associates to go to the polls and vote for Prop 6 on November 6. Early voting runs from October 22-November 2.

To read the actual language for Prop 6 click the link, and for more information contact Diane Donley at diane@ccar.net. 
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Get involved: Have a say in your community’s tax rates
You probably already know that if you disagree with your assessed value from the appraisal district, you have the right to protest and perhaps get your value adjusted. If you don’t agree with the appraisal review board’s decision, you can submit your case to binding arbitration. However, the value of your property is only half the equation.

While this year’s protest period has ended, it’s important to note that the tax rate applied to that property value is just as significant. Did you know that you may have several opportunities to change your community’s tax rate? You can affect your property taxes by being an informed voter and by participating in property-tax rate hearings.

Background
To reduce the property-tax burden on homeowners, in 2006 lawmakers established a comprehensive tax-reform package. This tax system implemented a new tax for businesses and lowered over two years the school property-tax rates for everyday operations from a maximum of $1.50 to $1.04 per $100 valuation. Should a school district require more revenue, they have the option to increase the tax rate to $1.17 per $100 valuation with voter approval. However, many Texans don’t receive the full benefit of the property tax relief because of increasing appraisal values and rising tax rates.

Influence your local tax rate at the polls
Several school districts are already asking voters for permission to increase their tax rates. In some cases, the rate would shoot to the maximum allowed—$1.17 per $100—well beyond the $1.04 per $100 valuation set by the state for maintenance and operations. It’s startling to see how many school districts have already filed to be on the ballot to increase their tax rates—and there’s plenty of time for more districts to file.

Texas REALTORS® are not against voter-approved money for schools. In many cases, school improvements are necessary, and children deserve to attend a school with good facilities. The key is for voters to make informed decisions about their school taxes, and it’s troubling to see the way these rate increases are marketed. There is no “free money,” as all rate increases come with a real cost to property owners.

Attend a rate hearing
A taxing jurisdiction can also use an increase in appraised value as a revenue source. Local officials can keep the tax rate unchanged and boast how they’ve never raised taxes. What they may fail to acknowledge is that they can maintain the same tax rate—or in some cases lower it—and still enjoy increased tax revenues because of higher appraisals.

Find out about your local tax rates and what your taxing jurisdiction is proposing for next year. Ask when the rate hearing is; most taxing entities finalize their rates by October and will likely be meeting soon. In most cases, the tax rate is based on the budget of the taxing entity. Many cities post their budgets on their Web sites, and getting tax information for your area is not difficult.

Making a difference
It’s no secret that Texas has some of the highest property taxes in the nation and subsequently ranks 45th in the nation in homeownership. As a Texas REALTOR®, you can make a difference. Whether through TREPAC, candidate interviews, opportunity races or something as simple as voting or attending a local tax-rate hearing, your involvement influences what happens. Find out when your taxing entity will hold budget and tax-rate hearings, and make it a priority to attend and be informed. Only through your involvement can you help decide whether the taxing entities’ services merit increased tax revenues. Make sure that you are part of the solution.

Mike Barnett is the North Texas Field Representative for the Texas Association of REALTORS®. He can be reached at mbarnett@texasrealtors.com or 512-971-8338.
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Collin County Bond Election: A winning solution
On September 24, the CCAR Board of Directors voted to endorse the 2007 County Bond Package. The package, which has three separate components for transportation, facilities and parks/open space, has a total expenditure of $329 million. Taking into account the Commissioner’s Court vote (4-1) in favor of placing the bond package on the ballot, your Board of Directors voted to endorse all three bonds believing that they will have a positive long term impact on the real estate market in Collin County.

As a note, an important feature of the transportation bond dictates that every dollar the county pays into a particular project, the participating city will match funds—thus doubling the spending power! CCAR leadership sees the value of the bond package and asks you to support the bonds when you go to the polls on November 6. 

For more information, please see the CCAR Resolution approved by the Board of Directors. For questions, please contact Diane Donley at diane@ccar.net. 
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2007 TREPAC Golf Tournament is a hole-in-one
September 19 was a beautiful day for the 2007 TREPAC Golf Tournament. Held at the Heritage Ranch Golf and Country Club in Fairview, the tournament boasted 144 golfers and raised $19,600 for TREPAC. Event participants enjoyed a day of golf followed by an awards dinner and silent auction, which featured 22 items including a big-screen T.V. and a chocolate Labrador puppy. Toll Brothers, Inc. served as a title sponsor for the event, and more than 20 other sponsors participated. We thank everyone who participated and helped to make the tournament a success.
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Recognize these people?

And this shy person?

CCAR members attend Texas REALTORS® 2007 Convention and Trade Expo in Galveston
Over 40 members of CCAR were among more than 2,000 Texas REALTORS® who attended the TAR Convention and Trade Expo, September 7-11 at the Galveston Convention Center. Exceeding attendance numbers of the last 16 years, TAR’s 2007 convention featured enhanced educational opportunities and nationally recognized keynote speakers.

State Rep. John Otto was a guest speaker during the five-day event in Galveston. Meeting participants also heard from Jim Gaines, Research Economist with the Real Estate Center at Texas A&M University; Dick Gaylord, 2007 President-Elect of the 1.3 million member National Association of Realtors; and Avis Wukasch, 2007 Chairman of the TAR.

Key topics discussed at the convention included: mortgage fraud, predatory lending, affordable housing, green building, commercial real estate trends, professional standards, technology, the future of real estate, customer service, property management, risk reduction and real estate spokesperson training.

In addition to educational sessions and speakers, the TAR installed its 2008 chairman of the board, Randy Jeffers of Amarillo. Jeffers follows 34 years later in the footsteps of his father, Franklin Jeffers, who served as the chief elected officer of the TAR in 1974.
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CCAR Committee Meetings
Monthly calendar of committee meetings located at CCAR.

10/2 - Tuesday, 9:45 a.m. REALTOR/Lender Committee
10/3 - Wednesday, 11 a.m. Education Committee
10/9 - Tuesday, 9:45 a.m. Government Affairs Committee
10/15 - Monday, 11:30 a.m. Housing Opportunity Committee
10/16 - Tuesday, 9:45 a.m. Affiliate Committee
10/16 - Tuesday, 9:45 a.m. MLS Committee
10/22 - Monday, noon B & F and Executive Committee
10/23 - Tuesday, 9:45 a.m. Independent Brokers Meeting
10/23 - Tuesday, Membership Development Committee CANCELLED
10/25 - Thursday, 9 a.m. Board of Directors
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Health insurance for Texas REALTORS®
Affinity Health Plans provides our members and their families with comprehensive, affordable health insurance protection with average premium savings of 42 percent. This new health insurance program provides a wide selection of comprehensive coverage options, including PPO plans, health savings accounts, short-term health insurance and student health insurance. Both group and individual health insurance options are available. Features include:

• TeleExpress member enrollment
• 15 percent healthy member discount
• 24-36 month rate guarantee
• $8 million lifetime maximum
• Free health savings account
• Worldwide coverage, 24 hours a day
• Office visit and prescription coverage

Through our new partnership with Affinity Health Plans, you can now build your personal plan, enroll via TeleExpress and be approved for comprehensive health insurance in as little as 24 hours. To view and compare health insurance plans available in your area, visit the special Web site for Texas REALTORS® or call toll free, 866-907-1520. Member specialists are on hand to help you enroll in the plan of your choice.

The Texas Association of REALTORS® has a variety of programs that can help you save money and enhance the value of your REALTOR® membership. For more information, visit TexasRealtors.com > Benefits.
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TAR News

Please see the information on registration, as well as the recently released "Proposed New Form Related to Mineral Clauses" from TAR.
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