The Michigan State Housing Development Authority has significantly expanded its down-payment assistance program that, when combined with the new federal tax credit, would provide more than $15,000 in help for first-time home buyers.
The loans - - which have zero interest and don’t have to be paid back until the home is sold or the mortgage refinanced or paid in full – could be used for closing costs, expenses such as setting up escrow accounts, or down payments. The federal recovery package approved in February provides first time homebuyers with an $8,000 tax credit.
“MSHDA has raised its limits on the household income for buyers eligible for the $7,500 loan from $55,000 to nearly $95,000,” said Mary Townley, MSHDA’s director of homeownership. “We felt we just needed to provide more tools for home buyers.”
For both the federal and state programs, buyers are eligible if they haven’t owned a home in the past three years. The federal credit runs through Dec 1. The state loans can be used for homes worth up to $224,500.
Income limits and other information can be found at the
MSHDA Web site.
The 2009 MAR Convention & Expo is the premier event for members to receive continuing education, network, hear from nationally recognized speakers, and have fun with nearly 1,000 of their REALTOR® peers. Help your members, and show them the benefits of attending this statewide event, with the 2009 MAR Convention Media Kit.
Start by placing the web banner on your site, and link the banner to the
Convention Web site .Place the flyer in your reception area, in your next mailing, or pass out a meeting. The convention video is also a great way to begin or end a meeting, and create energy among your members. If you’d like to request promotion materials to distribute at your next meeting, MAR can send locals hard copies of session or speaker descriptions, special Convention events, “Why Attend” postcards, general postcards, or an item customized to your local and Convention. Please contact
ctrzos@mirealtors.com, for additional materials.
Don’t forget to register early, and receive your early bird discount!
Register Today!
Upon investigation, it was discovered that there may be some confusion with Michigan's new Foreclosure 101 program and an existing foreclosure 101 investment group. This may cause confusion for members looking for our Foreclosure 101 resources. We have therefore converted our program name and all references to the NAR program description to "Foreclosure Prevention and Response". To date, three regional REALTOR® education and town hall forums have been scheduled and we are on track to release the video training session this month.
Don't miss the chance to honor your members in 2009, by submitting your REALTOR® of the Year Award nominations. REALTOR® of the Year is the highest honor bestowed upon a Michigan REALTOR®. It stands for integrity, individual achievement and perhaps the greatest compliment: recognition from peers in the real estate industry.
Each nominee should embody the following qualities:
- Advocate for and expand the interest of fellow REALTORS®, their profession, and the real estate community at large
- Demonstrate the outstanding work by REALTORS® to the general public
- Leadership among peers and spirit of camaraderie between locals, state and national REALTORS®.
Also remember to submit your REALTOR® Active in Politics nomination. This award recognizes a member that has gone above and beyond the norm in serving the REALTOR® profession in the political arena.
To start the nomination process for your association, you can find the necessary form on the MAR
Web site. All entries are to be sent directly to
jrowell@mirealtors.com, with "ROTY Nomination" or "RAP Nomincation" in the subject line. Please include a high quality photo with your nomination form. The deadline for submission is August 15, 2009.
All nominees will be honored at MAR's 2009 Convention & Expo, held October 7-9, 2009. For more information visit the MAR
Web site.
NAR's Right Tool. Right Now. program not only offers free and reduced services for members, but also has specific resources tailored for local boards and associations.
Included in the free resources are :
-
Association Management Outreach Programs & Resources: This program for all associations provides on-site leadership training, benefits, resources, Second Century programs and more. Two NAR Vice Presidents are available upon request to make field visits and presentations at your association.
-
Local REALTOR® Association Profile: This is a profile of local REALTOR® associations including administrative, organizational and compensation data for the chief state executive position.
-
Royalty Waived for Resort and Second Home Markets Course: NAR is waiving royalties for the Resort and Second Home Markets Course in 2009, and we encourage you to pass this savings on to your members. Contact Dawn Headtke at dheadtke@realtors.org with questions.
And more! Visit the NAR's Right Tools. Right Now. Web site for additional programs & resources.
MAR is excited to announce the launch of the Local Focus section on the
MAR Web site. The section will highlight recent local activities, and accomplishments on a monthly basis.
If your local has been featured in a local or national news story, been featured on a TV show, or are news worthy in other ways, please send the story to
ctrzos@mirealtors.com. MAR appreciates your feedback, and looks forward to honoring and showcasing Locals who continue to contribute to the real estate industry.
The Michigan Association of REALTORS® is making Aflac's accident and cancer insurance policies available for association members. Aflac offers a distinct type of protection. Unlike traditional health insurance, we pay you (unless otherwise assigned) not the doctor or hospital. You control the cash benefits and spend them as you like to help with financial challenges an accident or illness could have to your standard of living.
Over 40 million people worldwide have chosen Aflac because of our commitment to providing customers with the confidence that comes from knowing they have assistance in being prepared for whatever life may bring.
These insurance policies are offered to members of Michigan Association of REALTORS®.
Click here to learn more about these policies for association members. If you have any questions contact your Aflac agent Kenneth Bordua at 616.935.3560.