WAOR NEWS

2227 Santiam HWY SE Albany, OR 97322

JANUARY 2009
Phone: 541-924-9267 Fax: 5419924-9268 Email: [email protected]
Website: WAOR.org

PRESIDENT’S CORNER Linda Long Inside this issue:

WAOR NEWS
Welcome to 2009 fellow Members.
GENERAL
As we begin what is sure to be an interesting year.
MEMBERSHIP 2
The Willamette Association of REALTORS® is looking forward MEETING
to providing services that will be of value
WCR MEETING 2
to all of our members.
We are planning a wide variety of interesting and helpful DUES 2
classes, to assist our members in their business during these
challenging times.
Be sure to check out our newsletter and website waor.org, for OAR NEWS
upcoming classes and events. OREA RULE 3
If you have any questions or ideas please contact REVSIONS
Linda or Barb at the WAOR Office OREGON REALTOR®
ACTION CENTER 3
PHONE: 541-924-9267 or from our WEBSITE: waor.org.
REALTOR® Day 3
Working together we can make this year a great one. at the Capitol

Thank You
Linda
NAR NEWS

HOME FOUNDATION AWARDS $50,000 FOR AFFORDABLE HOUSING

Realtors® Report 4
The Willamette Association of REALTORS® sponsored Willamette Neighborhood Housing
Services for the Oregon Association of REALTORS® HOME Foundation Grant. We are proud to The Four Point Plan
announce that Willamette Neighborhood Housing Services,
4
was awarded, $3,000.00 in December.
MEMBER BENEFIT:
The Willamette Neighborhood Housing Services (WNHS) 4
THE WALL STREET
Home Ownership Center provides educational, counseling, and lending services JOURNAL
that help first-time buyers purchase a home. In addition, the Center started
offering comprehensive foreclosure counseling this year. The Center works
closely with area Realtors® who volunteer their time to teach the Homebuyer
Workshop. During the past five years, WNHS has provided Home Buyer Educa-
tion services to over 1,700 people and has helped over 575 households buy
their first home. The Home
Ownership Centers works with low to moderate income households in Linn and
Benton Counties. The majority of clients served are below 80 % area median
income. In 2009, at least 210 households will participate in the Homebuyer
Workshop and 110 students will take our
Financial Fitness class.
 WAOR NEWS Page 2

January General Membership Meeting 2008 Holiday Social

Thank you to all who attended our annual Holiday Social.

Because of your generosity.
January 20th
The Willamette Association of REALTORS®
Adair Village Club House
was able to donate
Cost $10.00
$2,196.00
Time: 11:15 to 1:00 PM
To Linn Benton Food Share
Speaker: TBA
It is wonderful to see our organization come together to
1 Credit Hour help our community..

RSVP by email before January 16th 2009 We would also like to thank WVMLS for donating the room
and beverage fee.
[email protected]
This thoughtful gesture made the event affordable for all.
Or on our website
THANK YOU IT IS A WONDERFUL LIFE
waor.org

WCR January Meeting 2009 Dues

January 22nd Local Allocation: $110.00

Time: 11:30 AM to 2:00 PM State Allocation: $140.00
Location: Allied Waste Board Room National Allocation: $115.00
(next to Albany Police Station) RPAC (Voluntary) $50.00
Subject: Goals Setting and Power Marketing Total : $415.00
at Little or No Cost.
Lunch Catered by Jacopetti’s Payment may be made by check
RSVP: Sandi Brantner Mail to:
[email protected] Willamette Association of REALTORS®
2227 Santiam Hwy. SE
Albany, OR 97322
Or on our website with PayPal
Waor.org
If you have any questions
Call Barb at
541-924-9267
 OAR NEWS Page 3

OREA RULE REVISIONS Oregon REALTOR® Action Center

Being smart, politically. In the fast pace of the political arena, issues are
constantly changing. As grassroots advocates, member volunteers need to be up
to speed on issues that impact REALTORS®.

Take action. In today’s political atmosphere, there are numerous competing

ideologies. To ensure our priorities are shared by elected officials we need to
build the local pressure necessary for political success. As issues of significance
to your business emerge, the association will issue calls-to-action to present a
strong, unified voice on behalf of Oregon’s REALTORS®.

To get involved and learn about statewide political activities, visit the Oregon
REALTOR® Action Center!

The Oregon Real Estate Agency has Public Policy News

filed the final version of OREA Broker-
ages, Property Management & Escrow
Rules with the Secretary of State's of-
fice. The rules will go into effect on
January 1, 2009.

You can see the proposed version and

a redline version on the Agency's web
site http://www.rea.state.or.us/REA/
Rulemaking_Hearing.shtml

The OREA will have a link to the offi-

cial version on the Secretary of State's
web site, once they go into effect. REALTOR® Day at the Capitol -
March 4, 2009
Gene Bentley | Commissioner
Oregon Real Estate Agency With the 75th Oregon Legislative Assembly set to con-
1177 Center Street NE, Salem, vene, 2009 brings new political opportunities and chal-
OR 97301-2505 lenges. Together, REALTORS® have the ability to
make a calculable impact in the coming 2009 Legisla-
Tel: 503-378-4770 | tive Session. To realize political success, it is vital that
Fax: 503-378-2491 REALTORS® are involved in the legislative process
and seize the opportunity to share their expertise on
issues that impact the real estate market.

Simply put, we need your help! Make a commit-

ment now to join your colleagues in Salem on March
4, 2009, for REALTOR® Day at the Capitol. If you
have questions, please contact Paul Rainey with the
Oregon Association of REALTORS® at
(503) 362-3645.
 NAR NEWS
Page 4

REALTOR® REPORT Member Benefits Wall Street Journal

WASHINGTON, December 17, 2008 Many business publications are available

to REALTOR® members for free in the virtual library
of the NAR website: www.realtor.org.
The National Association of Realtors® applauds the
Chat live with a librarian or browse and search both
actions of the Federal Reserve Board in lowering inter- recent and archived issues of leading journals such as
est rates for home buyers and homeowners who need Barron's, Business Week, The Economist, Forbes, For-
to refinance. This will significantly impact housing tune, Newsweek, Time and The Wall Street Jour-
nal. Click here to learn more. Your NRDS num-
sales, home valuations, and the nation’s overall econ- ber will be required for links marked "Proquest," pro-
omy. vided for members only.

The Federal Reserve is purchasing large quantities of Four Point Plan

agency debt and mortgage-backed securities to provide
support to the mortgage and housing markets.
The most recent economic stimulus bill, the Emergency Economic
Stabilization Act, was a good first step towards stabilizing our na-
“NAR has been aggressively calling for mortgage rate tion’s economy. Unfortunately, a number of the Act’s provisions
reductions, and the Fed’s action to slash interest rates, have not proven to be as useful at stabilizing the nation’s housing
markets as was first thought.
coupled with the actions by the Federal Housing Fi-
Congress may consider a second economic stimulus bill this
nance Agency and the Department of the Treasury, has
month. If they do, there are a number of changes that could help
driven down interest rates to make the dream of home- to provide more stability to the nation’s real estate markets which
ownership once again attainable for thousands of most agree is a necessary step towards recovery.

Americans,” said NAR President Charles McMillan. NAR has urged Congress to include the following provisions in any
future legislation:

 Make the $7500 tax credit available to all purchasers

Mortgage rates, which had averaged 6.3 percent in the and eliminate the repayment requirement. The credit’s limited
third quarter, have recently fallen into the 4 percent availability and required repayment terms have severely limited the
credit’s appeal to potential homebuyers. As a result, the credit has
range in some parts of the country. “That is the lowest not been widely used or proven effective at stimulating sales.
rate in nearly 50 years and will bring buyers back to the
 Make the 2008 FHA, Fannie Mae and Freddie Mac loan
market,” McMillan said. “We are pleased that the gov- limits permanent. New rules for 2009 would significantly reduce
ernment heard our message and responded to our call the FHA, Fannie Mae and Freddie Mac loan limit from their 2008
levels. Now is not the time to limit the availability of affordable
for action.” NAR has estimated that a one percentage mortgages.
point decrease in mortgage rates will increase home
 Get the Emergency Treasury bank relief program back
sales by more than 500,000 homes. “To boost the on track by targeting more funds to mortgage relief efforts and
economy, it is critical to stem the rising tide of foreclo- increasing efforts to mitigate foreclosures. Don't just give the banks
unrestricted cash. Make the program work to improve mortgage and
sures and boost home buyer confidence in the housing
housing markets as it was originally intended.
market.” McMillan said. “Lower interest rates coupled Permanently bar banks and banking conglomerates from
with increased foreclosure mitigation are the key ingre- engaging in real estate brokerage and management. The
dients to stabilizing the housing market banks have proven they have enough to do to simply properly man-
age their current lines of business. Do we really want them to man-
and preserving communities and home- age the home buying process? Imagine what could have been the
ownership.” situation now if they already had the added ability to engage in real
estate sales.
Take action now!