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| Governor's State of the State Speech Tonight, Governor Granholm will give her annual State of the State address. According to most political pundits around Lansing, expect to hear about the economy, job retention and diversifying industry in Michigan. In a recent radio address, Governor Granholm said she will key in on making the state "one of the best places in the nation to live, learn and earn." She is also expected to address the rising foreclosure rate in the state that has had a significant impact on the real estate community. Recall that last year, the Governor focused on investing in Michigan’s people. However, by the time 2007 came to a close, the state faced a massive budget crisis, unemployment rose, and the business community fought off a service tax not once, but twice. The service tax proposals were soundly defeated as the result of the REALTOR® community banding together with the business arena in opposition. Should there be any proposals this year containing potential business tax hikes, the MAR will continue to fight to keep the real estate industry out of any service tax umbrella. Whatever issues the Governor chooses to be top priorities in 2008, the MAR public policy staff will continue to work with legislators on both sides of the aisle in crafting legislation that will boost Michigan’s economy, along with keeping the real estate industry safe from burdensome regulation. The MAR has already been working with the Senate Majority Leader and the Speaker of the House on several ideas to help reduce the number of foreclosures, and help Michigan citizens stay in their homes, without additional costs to the REALTOR®. We will continue to work with leadership in the legislature on providing some sort of property tax relief to help stimulate the real estate market. As always, check out www.mirealtors.com to keep informed about the latest information from under the Capitol Dome. Broker Summit Hosts Powerful Lineup The 2008 Broker Summit promises to be one the best Michigan REALTOR® events of the year with a dynamite speaker lineup. You will want to make sure all of your broker members put April 15 – 16 on their calendars to attend. This year’s event will be held at the Hyatt Regency in Dearborn. MAR is pleased to present the following speakers.
The economy is on everyone's minds and this is a speaker combination that will address concerns specific to Michigan. Only MAR is bringing its members the top real estate economist in the nation together for one event. The Broker Summit will also feature an expert legal panel and an MAR update. Please let your members know they can register and find out more information at the MAR Web site and there are currently sponsorship opportunities available. On The MARk Meeting Scheduled in February MAR is pleased to invite all the local Association Executives to its headquarters on Tuesday, February 19 for an On the MARk meeting. The schedule for the day is as follows; please watch your email for more information: 10:00 - MRAEC Business Meeting On the MARk meetings are designed for AE’s to receive direct access to MAR senior staff, such as CEO Bill Martin to have dialogue about what is happening at the state level. The meetings also focus on topics that make your job as an AE easier and provide networking opportunities amongst AE's. The meetings are free of charge. To reserve your spot, email Shelley Albert at salbert@mirealtors.com or call 800.454.7842. BlackBerry maker Jazzes Up Goods for Broader Appeal Research In Motion has leapt into the retail consumer market with products such as its pink BlackBerry Pearl, a candy bar-shaped e-mail phone stuffed with multimedia goodies, exposing itself to shoppers' fickle tastes and competition from Apple's iPhone. Its devices now include more "lifestyle" features, such as television, music players, cameras, and Facebook social-networking software for broad appeal. House OKs Lift on Fannie, Freddie Loan Limits The economic stimulus package hammered out between the White House and Congress on last Thursday lifts the size of home loans that may be bought or insured by Fannie Mae and Freddie Mac. The Fannie/Freddie cap would rise to $729,750 for one year. Currently Fannie and Freddie are capped at $417,000. The measure also would permit the Federal Housing Administration to indefinitely insure loans up to that same level. Currently, FHA loans may not exceed $367,000. “The stimulus package is a positive step toward strengthening the housing market and our economy," NAR President Dick Gaylord said in a public statement. "The increase in loan limits should provide liquidity to the mortgage market in all parts of the country allowing qualified home buyers who may have been on the sidelines to enter the market." The measure is also expected to make jumbo loans more affordable because it will make them more attractive to investors, who since summer have shunned home loans that don’t pass through Freddie or Fannie. “In high-cost states, many home buyers with good credit could save $3,000 to $5,000 per year by not being forced into the current jumbo mortgage market," Gaylord said. "Currently, only families in lower cost areas are able to qualify for these types of affordable loans. Such a move would stimulate home sales and help stem the rise in foreclosures, reducing the number of foreclosures by as much as 210,000." Source: REALTOR Magazine Online
MAR Calendar of Events
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Michigan 48901-7925 Copyright © 2005 Michigan Association of REALTORS® |
