NAR has two calls for action which will be arriving in your email inboxes. The first CFA addresses the issue of FHA Loan Limits. The current FHA loan limits are set to expire September 30, 2011, however the anticipated drop in the limits could start to affect lending as early as late June.  

The second CFA will ask for a long term extension of the National Flood Insurance Program (NFIP), and is set to go to out on Tuesday, June 28.

It is uncommon to have two CFA's in such a short period of time, but both issues are time sensitive. Please participate in both calls for action.  

If you know a candidate running for office in your town who is supportive of the real estate industry, why not recommend them for RPAC support? Click here for the REALTOR® Recommendation Form online, or contact the CAR office and ask that a Recommendation form be sent to you. For questions or assistance, please contact Holly Reed.

Whether used for disaster relief efforts or to help a fellow REALTOR^® through a crisis, the CAR Foundation was created to make a difference. The foundation allows us to pull together as REALTORS^® to make a difference by either helping make a dream of college education a reality or by helping a community recover from a natural disaster. Please consider pledging a penny per birdie made in this week’s Travelers Championship. Ask your peers and business affiliates too. It only takes an e-mail to those in your contact list – and present them with the option of making a pledge. 100% of funds donated go directly to the CAR Foundation. Click here to submit your pledge today. Hurry! Last day to pledge is Sunday June 26^th.

As Benjamin Franklin says “An investment in knowledge always pays the best interest”.  We agree!  The investment in time and money to attend an in-person course will pay dividends in the future. Learn from real life experiences from the best instructors around. Choose from Appraisal-1 to the Green Designation, HAFA to GRI; take a look at our fall course offerings and sign up for one. You don’t know what you don’t know until you know it!  Click here to view the 2011 Course Calendar and register for a class today! 

As previously reported, the property seller’s conveyance tax rates increase with closings taking place on or after July 1. The buyer’s conveyance tax bill was defeated on June 4. Members can compute the dollar impacts per transaction using a new rate sheet on CAR’s website. Individual income tax increases are retroactive to last January 1. Other July 1^st increases of interest to REALTORS® include an increase in the general sales and use tax from 6.00 % to 6.35%; an increase in the car rental tax (for 30 days or less) from 6.00 %to 9.35 %; a hike in the hotel occupancy tax from 12% to 15%, and a slew of previously-exempt services/products now subject to the general sales tax (including voluntary treatment/removal of hazardous materials on industrial, commercial or income-producing property).

If you have a listing on a condo or co-op unit, you may want to find out if the development is FHA approved. FHA approval opens the door to more mortgage providers and can help the property sell. Many homeowners associations have allowed the approval to lapse and have not yet re-applied which can limit the seller’s opportunities to sell. Better to have the association start the approval process early rather than find a buyer and find out then that the buyer cannot obtain a mortgage because the FHA approval lapsed.

Many CAR programs/events would not be possible without the support of our generous sponsors. We hope that you will help us thank them for their support by taking a minute to check out the various products and services they have to offer.

This year we welcome back second time sponsor, zipLogix, who will be sponsoring the refreshment break at the 10^th Annual CT REALTORS® Leadership Conference. zipLogix’s vision is to ‘Go Beyond’ business as usual and streamline the forms process freeing real estate professionals from repetitive paperwork. To help achieve this goal, zipLogix recently launched zipVault™, a document storage module for zipForm® 6 professional online users. zipVault™ was created to even further streamline the real estate transaction process by allowing one safe and secure location to store any contract related forms. 

Their vision is of a mobile, more efficient agent able to access information quickly and easily; free to focus on the art of the deal. zipLogix took that vision and has created a suite of innovative products that has virtually transformed the industry.
You can learn more about these products and services at www.ziplogix.com/zipform6/index.asp.

If you answered “yes” to these three questions, be on the lookout for CAR’s Legal Department’s QUIZ QUESTIONS. There will be a new question every two weeks, all correct answers will go into a hat and the lucky name drawn wins a $25 Restaurant.com gift card. Where’s the QUIZ QUESTION? It’s on CAR’s home page under “The Latest From CAR”. 

CONGRATULATIONS to Melinda Kronfeld, last week’s winner! Every two weeks, all correct answers will go into a hat and the lucky name drawn wins a $25 Restaurant.com gift card.  

So, if you want to prove you’re smart and lucky and want to eat out for less, CHECK THIS OUT.

Though general membership participation still lags, all 21 Local Association Presidents have set the example by giving to this year’s REALTORS® Political Action Campaign. Gene Fercodini, CAR President, reported the accomplishment at the June 9 meeting of the Executive Committee. Special awards are still up for grabs for those three Associations raising the most “dollars” in May and June. Awards for three others - for best membership “participation” - were already  nabbed by ECAR, Mid State, and New Canaan. All six will have prizes presented  at the State board of directors meeting next month.

NOTE FOR CAR DIRECTORS:  Among CAR’s four Regions, none has yet racked-up 100% participation. Region 1 (the southwest corner of the state) leads with 85% its directors making their fair share contribution or more.

In the coming weeks, CAR will produce a summary of the 2011 regular legislative session to also be posted on CAR's website. Besides reviewing the multitude of anti-real estate proposals that were blocked by effective REALTOR® advocacy efforts, it will summarize setbacks and some surprising pro-REALTOR® initiatives.

Please note that the second annual Autumn Wine Tasting, to benefit the CAR Foundation, will be held on Thursday, September 15, 2011.

• Calls for Action
• REALTOR® Recommendations for Municipal Elections Being Accepted Now
• It Takes LITTLE Effort to Make a HUGE Difference
• An Investment in Knowledge
• July 1 Brings Higher CT Taxes, Including for Contaminated Property Clean-Ups
• Is Your Condo or Co-Op Listing FHA Approved?
• SPONSOR SPOTLIGHT: zipLogix
• Are You a Gamer? Think You’re Smarter than Your Fellow REALTORS? Want to Eat Out for Less?
• Board Presidents are 100% RPAC Investors! Six to be Honored at July Director’s Meeting
• Watch for CAR’s Legislative Wrap-Up
• Revised Save the Date for Wine Tasting-September 15th 
• Hotsheet Legal Tip
• Real Estate News
• Member Benefits

Exception to Condo Unit Resale Certificate Requirement

Usually, when a condominium unit is under contract, the unit owner must provide a Resale Certificate and the accompanying documents to the buyer or the buyer’s attorney. However, this requirement does not apply when the sale is of a unit in a common interest community that contains no more than twelve units, is not subject to any development rights, and does not use a master association. (CGS §47-262)

Permits for housing construction climbed in May, signaling a glimmer of optimism among homebuilders about the future of the housing market. The number of permits for future housing construction jumped to a seasonally adjusted annual rate of 612,000 last month, up 8.7% from the revised rate of 563,000 in April, the Commerce Department said. Read More.

Source: Real Trends

For more interesting real estate news, please visit here. 

Health and Short-Term Disability Insurance

Your health and disability insurance needs are important and assessing those needs and options can be confusing!  CAR members can turn to the Garvin Group to explore coverage specific to their personal and family situations.  Whether you are seeking information on Individual Health Insurance or Short-Term Disability Insurance, it is important to feel confident that you are making informed decisions. To learn more about this important member benefit, e-mail Bgarvin@thegarvingroup.com or call 1-800- 953-9332. 

Save Money on your Prescriptions

SUNRX has FREE prescription cards available for members and their families that can provide significant savings. Prescription drug discount cards allow prescription drug users to save money on all types of prescription medications.  For more details, click here.  

 Spa at Grand Lake

The Spa at Grand Lake is located on an expansive property in the woodlands of Lebanon, CT. The spa offers an atmosphere promoting the ultimate in relaxation and spa services. CAR members are entitled to 10% off all services at the spa. Groups of 10 or more receive a 15% discount. For more details, click here.   

 111 Founders Plaza, Suite 1101
East Hartford, CT 06108
1-800-335-4862
Fax: 860-290-6615
www.ctrealtor.com

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