What's Going On

Tax Credit and Down Payment Assistance Seminar TONIGHT
The Memphis Area Home Builders Association will be hosting a seminar for both consumers and REALTORS® on the first-time buyer tax credit and the upcoming elimination of seller-funded down payment assistance on FHA loans. The seminar is Tuesday, August 26, from 6 to 7:30 p.m. at MAHBA, 776 North Germantown Parkway.

Semi-Annual MLS Fees Now Past Due
MLS fees for the period September 2008 through February 2009 are now past due. You can view your invoice and pay securely online. MLS users whose payments are made online or received in the MAAR office after 5 p.m. on September 2 will be assessed a $50 late fee and individual MLS services could be suspended. Please allow 5 business days for mail delivery and processing.

Housing Stimulus Legislation - First-Time Buyer Tax Credit
The Housing and Economic Recovery Act of 2008, legislation aimed at shoring up the housing market in the United States and offering current homeowners with troubled mortgages and potential homeowners with significant assistance, became law on July 30. Of most interest to people who do not own a home but have been thinking about it is a $7,500 tax credit to qualified first-time home buyers who purchase a home between April 9, 2008, and June 30, 2009. Download this Q&A document about the tax credit.

2009-2010 Director Candidates Announced
The Nominating Committee has completed its work and is pleased to announced the following candidates for MAAR's Board of Directors for two-year terms beginning January 1, 2009:

Associate Director
Pennie Barclay (Prudential Collins-Maury) vs. Randy Jefferson (Hobson Co.)

Director
Steve Guinn (Highwoods Properties) vs. Ron Riley (In-Rel Management)
Willie Lyons (Lawrence Johnson) vs. R. Darnell Tate (ERA Legacy)
Betsy Kelly (Hobson Co.) vs. Denise Martin (Prudential Collins-Maury)
Michael Green (John Green & Co.) vs. Debbie Sowell (Revid Realty)

2009 Director/2010 Vice President
Nancy Carroll (Crye-Leike) vs. Lanny Foy (Crye-Leike)

Voting will take place on Thursday, September 4, at the Annual Meeting & Election, or by absentee ballot, which must be submitted in person or via mail delivery no later than noon Thursday, September 4. Candidate bios are available online and will appear in the September issue of MAAR This Month.

Habitat for Humanity Build Kicks Off September 12
Work on MAAR's 16th Habitat house starts on Friday, September 12 and continues every Saturday thereafter until October 25. We've also added two Thursday build dates this year. Check out the schedule and volunteer today!

Call for 2009 President-Elect Candidates
Former and outgoing Directors interested in serving as the 2009 President-Elect, should complete the nomination form and return to MAAR no later than 5 p.m. Tuesday, September 9. Interviews all President-elect candidates will be conducted on Friday, September 12 at 1:30 p.m. Per the MAAR Bylaws, it is possible that the Directors will vote the same day as the interviews; however, if the Directors feel they need more time, a subsequent special-called meeting will be scheduled. For more information, contact carol.culpepper@maar.org.

NAR Quadrennial Ethics Requirement: Are You in Compliance?
The second NAR Quadrennial Ethics cycle will end on December 31, 2008. NAR requires that all REALTOR® and REALTOR-ASSOCIATE® members complete a 2-1/2-hour ethics course once every four years. If you have not completed ethics training since January 1, 2005, you must do so prior to December 31, 2008. To see if you have met the requirement, click on the second link below.

If you have questions or need additional information, send an e-mail to quad.ethics@maar.org.

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